Concept cars may look out of this world when perched on a brightly lit motor show pedestal, but often they give a good idea of what a coming model will look like. Away from the creative flourishes and the oversized wheels, often concept cars will carry a design language that will go straight onto a showroom model, albeit slightly watered down.Ford is no stranger to this kind of teaser. Both GT supercars were unveiled as concept cars, looking suspiciously road-ready—when the finished cars arrived shortly after, they looked almost the same. But there is one Ford concept that looked ready to roll, only to disappear without a trace for a few years. When it resurfaced, it remained a one-off that is now worth a fortune. Ford Never Forgot The Cobra Mecum In 1965, Carroll Shelby introduced the 427 Cobra. The car was a result of a collab between AC, builder of the lithe Ace roadster, and Ford, which supplied the legendary 427 FE big block V8. Shelby, of course, was the man who made it happen, creating the fastest car on the road in the 1960s. While the Texan can take most of the credit for dreaming up the AC Cobra, Ford is intrinsically linked to the car. In the early 1960s, AC Cars had lost the engine supplier for their car, and Shelby got in touch to explain his idea, at the same time getting on the phone with Ford to set up a supply of engines. Few cars are as instantly recognizable as the AC Cobra, a simple but brutally effective two-seater that could run rings around more exotic rivals. Ford Hatched A Plan To Build A Modern Cobra Mecum In the 2000s, Ford was having a good rummage through its back catalog. The company was not only developing the GT supercar—a clear homage to the GT40 of the past—but also building the S197 fifth-generation Mustang, also a throwback to the 1960s glory days of the model. In this environment, it made perfect sense for Ford to revisit another car that it had a hand in: the AC Cobra. With kit cars, replicas and continuation AC Cobras still selling extremely well, it was clear that the car had lost none of its appeal to enthusiasts. How about making an AC Cobra for the modern day, just like the GT, using a blend of old school styling and modern tech? Ford was on to something... The Ford Shelby Cobra Concept Was Designed To Bring Back A Classic Mecum AuctionsWith Carroll Shelby turning 80, the great man was more than happy to work with Ford when it decided to build a new Cobra. At the start of the 2000s, Shelby and Ford engineer Chris Theodore embarked on a top-secret project, code-named Daisy, designed to be a follow-up to the retro-styled 2005 Ford GT. Shelby couldn't be more excited by the project, saying, "There are so many things left in the world that I want to do... and building a new Cobra is No. 1."When the concept was unveiled, it was unmistakably a Cobra, while being updated and modernized in a similar way to the GT. The all-aluminum space frame chassis used Ford GT extrusions and castings, and the body was crafted from a double-wall fiberglass construction with a foam core for added rigidity. Even the unique seven-spoke BBS billet wheels were the perfect blend of retro styling, with a modern edge. But the real surprise was under the hood. The Cobra Concept Took The Concept Into The Modern World Mecum Auctions Incredibly, Ford resisted putting a crate V8 in the Cobra, which almost no one would have minded. This being the early 2000s, when everything from BMW M5s to sleeper Audi S6s were getting V10s, Ford decided to develop a special ten-cylinder for the new Cobra. Under the hood of the concept was a 645-horsepower, 6.4-liter, 40-valve aluminum V-10 with dry-sump lubrication, linked to a six-speed manual. This was one of four experimental engines produced by Ford’s Advanced Powertrain group. A rear-mounted Ricardo 6-speed Ford GT manual transaxle handled the power. Brembo cross-drilled and ventilated discs with four-piston monoblock calipers provided stopping power. The Cobra Concept Was Designed To Be Driven Mecum Auctions This was not some show pony either. Shelby himself did extensive testing behind the wheel to fine tune the car, and even took journalists for test drives to show it off, doing a few donuts for good measure. Shelby said, "It turned out just beautiful, didn't it? I’m very happy with the car. At 81 years old, how lucky can you get to be part of a continuation of something that happened 40 years ago? It’s going to be a real ass kicker.” As concepts went, the new Cobra couldn't look more destined for production. But then it all went quiet. The Cobra Concept Never Made It Past The Start Line Mecum Auctions The Cobra may have seemed ready for production, but it was quietly canned after it was unveiled at the 2004 North American International Auto Show. The car was a victim of timing. Production was slated to start in 2007, but the looming financial crisis that arrived the following year meant Ford decided against bringing it to showrooms. This would be the last Shelby Cobra, and it would sadly remain a one-off. The car did come in useful, driven by Ice Cube in the movie "XXX: State of the Union," as well as doing the rounds at various auto shows. According to Mecum, the Cobra was then disabled "for liability reasons" and it looked like it would never hit the road again. But then something interesting happened. The Cobra Concept Is Worth A Fortune Today Mecum Auctions Chris Theodore, former Ford Vice President of Product Development, managed to purchase the Shelby Cobra Concept at a charity auction, and decided to get it back on the road. The car was sent back to Technosports in Livonia, Michigan, which had assembled the chassis in the first place, and a new transmission output shaft was created to original specifications by Livernois Motorsports of Dearborn Heights, Michigan. The renovation also saw the fitment of new wiring harness, spark plugs, and mufflers, along with a twin-plate clutch.In 2020, it was seen on Jay Leno’s Garage Season 6, Episode 1 with Donald Osborn and Chris Theodore. Finally, in 2021, the Cobra Concept went up for auction via Mecum. The car fetched an incredible $2.64million at the sale. It may have never made it to production, but at least one lucky owner got to enjoy a modern take on the classic AC Cobra.Sources: Mecum.com