1993 Cobra R Shatters Fox Body Auction Record with $132K Sale

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1993 Mustang Cobra R

Barrett-Jackson Scottsdale had the largest-ever bid on a Fox Body, so how will this change the market?

Remember when Fox Body Mustangs were kinda cheap? Well, those days appear to be pretty much over, at least for the rarest models of this beloved platform. And they don’t get any rarer (or more expensive, now) than a 1993 Mustang Cobra R.

Yes, the magical machine that served as a swan song for the beloved Fox Body, one that Ford produced a mere 107 examples of. And this particular example, number 11 of those 107, just set a new Fox Body auction record by selling for a jaw-dropping $132,000 at Barrett-Jackson Scottsdale.

1993 Mustang Cobra R

It may have been overshadowed by the first production 2020 Shelby GT500 and its incredible $1.1 million dollar sale, but make no mistake – this Cobra R sale is even bigger news. Sure, it’s easily the holy grail of Fox Body Mustangs. This is a car that was originally sold only to licensed racers. And this particular example is a two-owner car with just 500 miles on the clock.

Still, we must consider the fact that the previous Foxbody auction record holder was a 1990 convertible with 16 miles on the odometer. It sold for $82,500 at the 2017 Barrett-Jackson Scottsdale auction. Thus, this SVT Mustang Cobra R didn’t just break the record – it completely shattered it.

1993 Mustang Cobra R

Of course, this doesn’t mean you’re going to be able to sell your LX coupe for six figures now. But it is obviously a good sign for those holding on to their nice, original Fox Body Mustangs. As they say, a rising tide lifts all boats. And the way things are going, we wouldn’t be surprised to see Fox Body prices continue to surge following this shocking auction result.

Photos: Barrett-Jackson

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Brett Foote has been covering the auto industry for over five years and is a longtime contributor to Internet Brands’ popular Auto Group websites, including Corvette Forum, Rennlist, and Ford Truck Enthusiasts, among others.

Foote has been an automotive enthusiast since the day he came into this world and rode home from the hospital in a first-gen Mustang, and he's been wrenching on them nearly as long.

In addition to his expertise writing about cars, trucks, motorcycles and every other type of automobile, Foote had spent several years running parts for local dealerships.

You can follow along with his builds and various automotive shenanigans on Instagram: @bfoote.

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