A 1965 Shelby 427 Competition Cobra will headline RM Sotheby's Arizona sale on January 28-29 in Phoenix.

It could make $2.5m-3.3m.

The Shelby Cobra is one of only 23 ever made

The model is one of only 23 made and was originally outfitted for use on the road. However, its original buyer found it far too powerful for non-racing purposes and sold it on.

It was raced from 1967 onwards and achieved success both in the 1968 SCCA Championships and the 1971 Eastern Canadian Endurance Championships.

Since then it has been a regular fixture at concours and rallies across America.

RM Sotheby's comments: "A true dual-purpose car, CSX 3010 has completed no less than seven long-distance tours in recent years, as well as competed at the Monterey Historics on multiple occasions.

"Ready for continued enjoyment on the road or track, it is offered in Arizona with its original front clip, street and race equipment, and extensive documentation."

A 1963 Shelby 289 Cobra 'Dragonsnake' is valued at $1.4m-1.6m.

Dragonsnakes were designed by Shelby for use in drag racing and are extremely rare. Only five Dragonsnake Cobras were produced in house.

A further three, including the present lot, were converted by enthusiasts.

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