Autoblog and Yahoo may earn commission from links in this article.This 1997 Ford Mustang SVT Cobra convertible is a one-owner survivor showing 57,000 miles, dressed in Pacific Green Clearcoat Metallic over Saddle leather, with a matching soft top to complete the look. Under the hood sits Ford's 4.6-liter V8, paired with a Borg-Warner T45 five-speed manual and a Traction-Lok limited-slip diff. The auction listing ticks off all the right boxes: 17-inch cast-aluminum wheels, Cobra-branded front calipers, fog lights, air conditioning, and the period-correct Mach sound system. It comes with a clean Tennessee title in the seller's name.1997 Ford Mustang SVT Cobra ConvertibleBring a TrailerWhat It's Worth Right NowClassic.com currently puts the benchmark CMB for the 1994-1998 Ford Mustang SVT Cobra at $18,069, with 52 recorded sales averaging $17,999. The database shows a lowest recorded sale of $3,850, a top sale of $66,000, and a most recent sale of $12,000. Those figures cover the SN-95 SVT Cobra market broadly rather than this exact 1997 convertible configuration.AdvertisementAdvertisementCurrent asking prices prove just how much condition and mileage can shake things up. Classic.com has a 1997 SVT Cobra with only 13,000 miles listed at $22,900, and another with 20,000 miles at $24,900. Some ultra-low-mileage cars are asking even more, so if you want the best, originality and mileage are still king in this market.1997 Ford Mustang SVT Cobra ConvertibleBring a TrailerFor this specific Cobra, you're probably looking at a fair value somewhere between $15,000 and $20,000—assuming the condition matches the listing and that open recall gets sorted. Right now, the bid sits at $12,600, which is a bit low, but there's still time on the clock and 219 people are watching. The last sale in the wider market was $12,000, so that gives you an idea of where things might land.Condition and DetailsThis Cobra rocks Pacific Green Clearcoat Metallic paint, Saddle leather seats, and a matching soft top. The seller bought it new and it's only ever lived in Oregon and Tennessee. All the Cobra-specific bits are still here: revised front bumper, fender badges, hood vents, fog lights, and dual exhausts. It was ordered spoiler-free, and the rear-left quarter panel has had a repaint.1997 Ford Mustang SVT Cobra ConvertibleBring a TrailerStep inside and you'll find articulated front seats in Saddle leather, with the dashboard, door panels, and carpet all matching up. Creature comforts include cruise control, dual front airbags, air conditioning, and the Mach sound system rocking a CD/cassette stereo—because it's the '90s, after all. The odometer reads 57,000 miles, and the 4.6-liter V8 was rated at 305 horsepower and 300 lb-ft of torque from the factory.1997 Ford Mustang SVT Cobra ConvertibleBring a TrailerMechanically, it's all classic late-'90s Mustang: the V8 sends power through a Borg-Warner T45 five-speed manual to the rear wheels, with a Traction-Lok limited-slip diff keeping things in check. The Carfax shows at least one open recall, so you'll want to check with Ford before pulling the trigger. It's also smart to look over the repaint, soft top, tires, and anything else that might have aged over the years.1997 Ford Mustang SVT Cobra ConvertibleBring a TrailerAdvertisementAdvertisementThe OfferSpecificationDetailMakeFordModelMustang SVT Cobra Convertible (SN-95)Year1997Mileage57,000 miles shownEngine4.6-liter V8Power305 horsepower, 300 lb-ftTransmissionFive-speed manualDrive typeRear-wheel drive with Traction-Lok limited-slip differentialExterior colorPacific Green Clearcoat MetallicInterior colorSaddle leatherSellerOriginal owner, private partyLocationCordova, TennesseeCurrent bid$12,600Interested in this car? View the listing here.What Makes the 1997 Mustang SVT Cobra UniqueThe SVT Cobra is a step above your garden-variety Mustang GT in the SN-95 lineup, and the 1997 model brings all that performance hardware with the bonus of a drop-top. The 4.6-liter V8 puts out 305 horsepower and 300 lb-ft of torque, with a five-speed manual and limited-slip diff sending power to the rear. It's got that no-nonsense, mechanical feel that defines late-'90s performance Mustangs.1997 Ford Mustang SVT Cobra ConvertibleBring a TrailerThis one is a time capsule, with its Pacific Green paint, Saddle leather, and matching soft top standing out from the usual red, black, or white SN-95 Cobras. The spoiler-delete keeps the rear end looking clean. Throw in the original-owner story and 57,000 miles, and you've got a recipe for someone who wants a stock, unmolested Mustang – not a project car covered in mods.Final ThoughtsWith a current bid of $12,600, this Cobra is trailing the Classic.com benchmark of $18,069 and the $17,999 average sale price for SN-95 SVT Cobras. Sure, the mileage is higher than some of the pricier listings, but the original-owner story, five-speed manual, and that Pacific Green/Saddle combo make this one worth a closer look.AdvertisementAdvertisementIf you're thinking about bidding, focus on the car's real-world condition, not just the price. Check out the repaint and open recall, and definitely get a pre-purchase inspection – this is almost a 30-year-old performance car, after all. If everything checks out, this could be your ticket into the SN-95 Cobra club without shelling out for a garage queen.Disclaimer: This post is for informational purposes only. We are not a dealership or broker. All vehicle specifications, pricing, and availability are subject to change without notice. We are not responsible for typographical errors, omissions, or the accuracy of the provided information. Please verify all details directly with the seller.Autoblog aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.This story was originally published by Autoblog on Aug 17, 2026, where it first appeared in the Car Buying section. Add Autoblog as a Preferred Source by clicking here.