Two of the most significant Shelby vehicles to appear at public auction this year are heading to the same sale — and crossing the block on the same afternoon. Dana Mecum’s 39th Original Spring Classic in Indianapolis puts both cars in its high-water-mark final session at the Indiana State Fairgrounds this Saturday, May 16.
CSX3272 — The Competition Cobra
The first is CSX3272, a 1966 Shelby 427 Cobra Roadster delivered from the factory in full competition specification — one of a very small number of Cobras that left Carroll Shelby’s operation that way. Red over black leather. The 427 cubic-inch Ford V8 is backed by a four-speed manual, limited-slip rear differential, independent coil-spring suspension at all four corners, and four-wheel disc brakes. Trigo wheels, side pipes, roll bar, and hood scoop round out the package.
The history isn’t without complication, and knowledgeable buyers will want to understand it clearly. Following a significant incident in the late 1970s, the car was professionally rebuilt by specialist Mike McClusky — using a Brian Angliss Autokraft chassis and a fresh alloy body wrapped around the original mechanical components. Angliss held full AC restoration rights through Ford, which gives the rebuilt structure legitimate provenance. A comprehensive restoration followed in the mid-2010s, and the car has since been campaigned in Midwest regional and vintage events. CSX3272 arrives at Mecum as the lead car of The Apex Collection, a consignment that also spans Corvettes, Chevelles, and European exotica including Lamborghini, Porsche, and Ferrari.
Mecum has published no pre-sale estimate. Recent 427 Cobra results provide the market frame: a narrow-hip CSX3218 brought $1,540,000 at Mecum Kissimmee in January 2026; CSX3355 commanded $1,842,500 at Mecum Glendale in March; and the final factory narrow-hip example sold for $3,300,000 at Kissimmee — the first time that car had appeared publicly in nearly 15 years. Competition-specification cars carry a meaningful premium over street examples. That said, two Cobras — one at Mecum Indy 2025, one at Pebble Beach 2025 — failed to sell, a reminder that reserves matter at this altitude.
“Mecum hasn’t provided a pre-auction estimate, but nothing suggests that adding this Cobra to your collection will be cheap. The 427 model stands out as one of the most valuable Cobra models built.” — Hagerty Media
SFM5R106 — The Racing Mustang
The second car is something else entirely. SFM5R106 is a 1965 Shelby GT350R Fastback — chassis number 106, one of just 34 production R-models built to SCCA B-Production rules. It races Wimbledon White, carries fewer than 4,900 miles on its original drivetrain, and retains its original Plexiglas windows and magnesium American Racing wheels. The Shelby-modified 289 K-code V8 — producing 325 horsepower through a high-rise aluminum intake, Holley four-barrel carburetor, and Tri-Y headers — has never been replaced.
The provenance is exceptional. First owner George Jordan purchased the car through Jack Loftus Ford in Hinsdale, Illinois, and had it on-track at Road America just ten days after delivery — September 4, 1965. It went into storage in the early 1970s and didn’t emerge until 1986. Paul Zimmons purchased the car in 1987, restored it, and took the Gold Award in the Competition Class at SAAC-18 at Watkins Glen in 1993. Subsequent owners include Paul Andrews, Anthony Tomasi, Dave Christenholz, and noted Shelby authority and author Colin Comer. The car comes with original Shelby American and Jack Loftus Ford paperwork and carries the signature of GT350 project engineer Chuck Cantwell on the underside of its hood.
The market is unambiguous about what genuine R-models are worth. Mecum sold one of the two GT350R prototypes for $3,850,000 in Indianapolis last July. SFM5R106 itself last changed hands publicly at RM Auctions Monterey 2012 for $990,000 (including buyer’s premium); a 2021 Mecum Kissimmee appearance estimated at $1.2M–$1.5M ended without a sale. Comparable production R-models have traded in a documented range of $775,000 to nearly $2,900,000 depending on originality and provenance — and few carry a story this intact.
SFM5R106 is listed as Lot R676. Both cars stream live on ESPN+ starting noon Eastern this Saturday, May 16.
What to Watch
With $1.84M and $3.3M already established as 2026 benchmarks for 427 Cobras, CSX3272’s competition specification gives it a legitimate argument for the upper end of the current market — provided bidders accept the Autokraft chassis context. SFM5R106 is the more straightforward case: 34 were built, this one has its story entirely intact, and the last time a prototype appeared at Mecum Indy it sold for nearly four million dollars. Watch the bidding on both cars Saturday afternoon for the clearest read yet on where blue-chip Shelby iron sits in the spring 2026 market.
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