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Shelby 427 Cobra S/C – Car Profile

1967 Shelby 427 Cobra S/C (photo: David Newhardt)
1967 Shelby 427 Cobra S/C (photo: David Newhardt)

Invoiced to Shelby American on December 14, 1966, Shelby Cobra CSX3356 was first sold to Paradise Ford of Scottsdale, Arizona, at an inventory reduction price of “$1,000 off dealer cost” and was delivered to Arizona by truck on October 2, 1967. In its original configuration it was equipped with the single four-barrel 427 “side oiler” engine and finished in Red with a Black interior.

The Shelby Registry notes that its early history is unknown, but an unidentified owner in the San Antonio, Texas, area offered it for sale in the fall of 1980.The ad described “427 Cobra CSX3356. 7 aluminum wheels, 4 magnesium wheels, chrome side pipes, 200 miles on balanced, blueprinted 427 side-oiler, special competition transmission. Just painted. An exceptional Cobra for someone who is looking for JUST THAT. First time sale since 1970. Expensive – serious inquiries please.” Forristall’s GT Cars of Houston, Texas, then advertised the car for sale in the spring of 1981. Described by Forristall’s as “possibly the finest example in the world, only 17,000 documented miles since new…optional S/C equipment.”

It was purchased by Stockton, California, resident Robert Panella of Panella Trucking fame. Panella delivered the car to noted Cobra specialist Mike McCluskey of Torrance, California, for a no-expense-spared restoration involving nearly every facet of the car.

McCluskey rebuilt the car from the bare refinished frame, overhauling the entire suspension, fuel, cooling and electrical systems. The work also included a blueprint rebuild of the engine and transmission by Dennis Cann and an overhaul of the differential by McCluskey, who also repainted the car Metallic Blue with White stripes, then brought it to full S/C specifications, including a revised dash and trunk, early tail lights, an oil-cooler scoop, widened front flares and rear-wheel arch lips and relocating the battery to the trunk. The instruments were also rebuilt and the odometer returned to zero miles; the present mileage reading accounts for the distance travelled since the restoration by McCluskey. Mr. Panella enjoyed the Cobra for several years as part of a varied collection of important automobiles. In 1996, he contracted a noted exotic automobile broker to facilitate the sale of the Cobra to Harry Mathews of Arvada, Colorado, who owned what was widely acknowledged as the world’s finest collection of McLaren racing and road cars.

The broker then arranged the sale of the car to a previous owner in 2007. It has been enjoyed sparingly since then, mostly during brief forays up and down the California coast. It has been maintained as regularly as needed and without regard for expense, with most work being contracted to Oakland Shelby specialist Jack Schroll. In 2013 it was returned to McCluskey for a full service. McCluskey replaced the inner spherical ball bearing in the right A-arm and aligned the rear suspension, replaced the hood jamb rubber, Stewart Warner water pump, clutch slave cylinder, oil filter and water temperature sending unit. He also repaired the fuel tank and changed the brake and drivetrain fluids.

CSX3356 remains in exceptional condition and presents a unique opportunity for collectors to acquire an investment-grade big-block Shelby Cobra.

1967 Shelby 427 Cobra S/C (photo: David Newhardt)
1967 Shelby 427 Cobra S/C (photo: David Newhardt)

1967 Shelby 427 Cobra S/C CSX3356 – Highlights

  • CSX3356, 427 big block Cobra
  • Invoiced to Shelby on December 14, 1966
  • First sold through Paradise Ford of Scottsdale, Arizona in October 2, 1967
  • Originally Blood Red with Black interior
  • Sold to Robert Panella in 1981
  • Professional restoration by Mike McCluskey in 1981
  • Blueprinted rebuild of engine and transmission by Dennis Cann
  • Instruments rebuilt
  • Painted Blue with White stripes
  • Sold to Harry Mathews in 1996
  • Sold to new owner 2007
  • Serviced in August, 2013 by McCluskey including replacing the inner spherical ball bearing in the right A-arm, rear suspension alignment, replacing the Stewart Warner water pump, repairing the fuel tank, replacing the clutch slave cylinder, changing the brake fluid, replacing the oil filter, replacing the water temperature sending unit, changing the drivetrain fluids and replacing the hood jamb rubber

This 1967 Shelby 427 Cobra S/C Roadster will be offered at the Mecum Auctions Original Spring Classic sale, scheduled for May 12-17, 2015 at the Indiana State Fairgrounds in Indianapolis.

[Source: Mecum Auctions; photos: David Newhardt]