1967 Shelby 427 Cobra sells for $1m at Mecum

A 1967 Shelby 427 Cobra roadster has sold for $1m at Mecum Auctions in Indianapolis.

The car led a major sale at the Indiana State Fairground on May 18.

Produced in collaboration between British maker Ac Cobra and American designer Carroll Shelby, the model was designed to rival the Corvette, and features a powerful V8 engine.

Cobra Mecum Ac
The 1967 Shelby Cobra is exceptionally well maintained

The car that sold is considered among the finest known examples, having been extensively restored during the 1980s.

It features a low mileage, having been used only in day trips up and down the California coast, a factor that contributed to its strong price at auction.  

Other lots included a 1971 Ferrari 365 GTB/4 Daytona Berlinetta that made $775,000.

The model was first shown at the Paris salon in 1968. At the time, it was the fastest production car ever released by the marque - capable of speeds of 170mph.

It proved a highly effective racer, achieving strong times at Le Mans and the Cannonball Run during the 1970s.

The present example was formerly part of the Don Davis collection.

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