Hugus-built Shelby Cobra prototype driven by Henry Ford II heads to auction with original engine and extensive documentation.
One of the most historically significant Shelby Cobras ever produced—chassis CSX 2003, the third Cobra built and one of the earliest examples to survive—will cross the auction block at Broad Arrow’s Monterey Jet Center sale in August 2025, carrying an estimate of $1.5 to $2 million.
This 1962 Shelby Cobra, fitted with its original 260 cubic inch "XHP" V8, four-speed transmission, and rear end, is considered among the earliest production Cobras still in private hands. Even more remarkably, the car has spent 36 years under the care of one Virginia-based owner, who acquired it in 1989 after a trade for another Cobra.
CSX 2003 holds deep historical significance, having been assembled at Ed Hugus’ European Cars dealership in Pittsburgh—not at Shelby’s later Venice, California facility. Hugus, a key but often underappreciated figure in the Cobra legacy, personally funded and assembled the first batch of Cobras at his shop, allowing Carroll Shelby to bridge the gap until Ford officially backed the project.
According to period documentation and multiple Cobra registries, CSX 2003 was inspected and driven by Henry Ford II and Ford’s Special Vehicles Team in Dearborn in early 1962, before being shown by its first private owner during the 1963 12 Hours of Sebring.
Later owners included George Reed and William Webbe, and it was restored in the early 1980s by Cobra expert Bill Kemper. The current owner acquired the car in pristine condition and has maintained its originality, removing later-added racing stripes and preserving its original white over red color scheme.
Notably, Carroll Shelby himself signed the glovebox during a Ford-hosted event in Washington, D.C., after personally inspecting the car and praising its condition.
Used regularly for years—including daily drives to work by its surgeon-owner—CSX 2003 was eventually retired to climate-controlled storage. Despite its rarity, it has been kept roadworthy, occasionally exercised by the owner’s sons.
As one of the few surviving Hugus-built 260-powered Cobras, CSX 2003 offers collectors a rare combination of historical pedigree, mechanical originality, and personal connection to both Ford and Shelby. Its appearance at Monterey marks a potentially once-in-a-lifetime opportunity to acquire a foundational piece of Shelby history. See it here.
