Broad Arrow Auctions will offer one of the earliest examples of a Shelby Cobra ever produced at their upcoming Monterey Jet Center Auction during Monterey Car Week. This car, CSX 2003, is unique in a few ways and we spoke with Senior Car Specialist, Donnie Gould about why this car is so exciting to see at auction.
CSX 2003 with Donnie Gould
Question: Who was Ed Hugus and why was he important to the Shelby Cobra?
Donnie Gould: Ed Hugus was a world-class racing driver and one of the leading sports car dealers on the eastern seaboard, who knew Carroll Shelby from their days racing against one another. Without Hugus, Shelby’s vision for the Cobra almost certainly would not have made it into production. Hugus not only funded the earliest prototypes, he took on the role of producer, East Coast distributor, and first Cobra dealer all in one. He also drove one of the first prototype Cobras in competition (CSX 2001) and even entered a Cobra at the 24 Hours of Le Mans in 1963.
Question: How many prototype Cobras were built by Ed Hugus?
Donnie Gould: Hugus’s Pittsburgh dealership, European Cars, produced five of the seven earliest prototypes.
Question: Why is CSX 2003 so significant to the history of the Cobra?
Donnie Gould: CSX 2003 is central to the legacy of the Cobra, arguably even more so than CSX 2000 itself, because it was the very car that helped seal the deal between Carroll Shelby and the Ford Motor Company. It was built by Hugus before Shelby American was even operational and was sent to Dearborn in early 1962 for testing. There, it was evaluated by Ford’s Special Vehicles Team and even driven by Henry Ford II himself!
Question: How is the experimental 260 cubic inch engine different than the production versions used in the pre-289 Cobras?
Donnie Gould: The XHP Cobra 260ci engine—XHP standing for Experimental High Performance—was an entirely hand-built, blueprinted engine loaded with prototype parts. Everything from custom camshafts and prototype dual‑point mechanical distributors to unique iron intake manifolds, bespoke forged steel connecting rods, experimental cylinder heads.
Question: Aside from the repaint, how original is CSX 2003?
Donnie Gould: CSX 2003 is astonishingly close to the way it left Ed Hugus’s shop and the car is “as delivered” in every meaningful way […] CSX 2003 is still equipped with its extremely rare original XHP 260 cu-in engine, transmission, and rear end, and even retains its factory soft top, tonneau cover, side curtains.
Question: What makes CSX 2003 so special compared to Cobras equipped with the production 260 cubic inch V8?
Donnie Gould: CSX 2003 stands out as the most original prototypes because, along with CSX 2000, which today lives on display at the Shelby Heritage Center in Las Vegas, and CSX 2006, which has been owned by Herbie Hancock since new, it’s one of only three prototypes to escape competition use, crashes, or rebuilds.
Question: What should the next owner do with CSX 2003? Is it a show car or more suited for tours?
Donnie Gould: With its irreplaceable significance to the Cobra legacy and its impeccable originality, it’s sure to draw attention at concours events or marque gatherings—but it was built to be driven.
So What's CSX 2003 Worth?
CSX 2003 is expected to sell for $1,500,000 – $2,000,000 when it crosses the block at the Monterey Jet Center Auction by Broad Arrow on August 14.