The MK1V Cobra is undoubtedly the legitimate and deserving successor to the Thames Ditton cars. A MK111 silhoutte in form, with a new chassis design underneath, itself mimicking some of the MK111's attributes again but, essentially a very clever Brian Angliss Cobra redesign with flawless execution. Done well enough to attract serious investment from a major multi-national company in the shape of Ford and legitimately wearing the AC badge, it was a master stroke and surprised many detractors at the time.
Angliss continuously advertised under 'AC' in the Exchange and Mart in the early '80's, the registered trademark status of AC and that it was not to be used by others, nor non-AC cars advertised in the wrong section. He was of course fighting back the tide of kit car Cobra replicas without success before himself being taken to task by Carroll Shelby. The Brooklands factory was very impressive and produced some beautiful cars to a higher standard than Thames Ditton ever managed. A bespoke product with a waiting list that was selling at well over list at the height of the classic car boom.
I think part of the problem around values is that, even within the AC owners club itself, we seem to be at odds with what the cars really are : 26 Lightweight vs. Lookalightweight vs. standard MK1V. Many cars modified back to ''original MK111'' specification and owners never even realising that the basic MK1V is essentially a completely different car - as before, essentially just a silhouette, much like the modern Ford GT versus the GT40 produced in the '60's. It is perhaps therefore unsurprising that members of the wider car buying public have trouble appreciating what the MK1V actually is, especially with most kit cars and copies being advised under the 'AC' section in the small ads. The situation is made even poorer when the kits carry replica AC badges and even chassis plates. This of course affects all genuine Cobras, but in particular the MK1V.
The arrival of the Kirkham has not helped. If you want a Cobra that represents what Thames Ditton built then you could screw one together yourself for under£100k. However, I suspect the MK1V has investment potential over the next couple of decades that the Kirkham will never match. Many of us with modified MK1V dash boards etc. may one day be considering returning the car to its original hand built unadulterated factory specification. This may one day become a very sound objective, naff plastic switches and all.
I long struggled to understand why anyone would ever purchase a very high quality kit Cobra for c.£25k when MK1V's could be bought for £32k in mint condition. Their rise in value means they are essentially now beyond the reach of most people with children and a mortgage. The kit Cobra makes a lot of sense still when you have conflicting financial priorities. The basic Cobra experience is there to enjoy, real or not.
The MK1V nonetheless remains the car to have if you want the genuine article and cannot afford, or are not prepared to pay for, a Thames Ditton car. As we all know, not all Thames Ditton cars are what they purport to be, with known fakes or 'continuous history' cars abound, some created by Mr Angliss himself. It is certainly easier to identify an unadulterated MK1V and then enjoy it for what it is ; a lovely piece of hand built craftsmanship with a very strong lineage.
