This is a true story. I was working for an insurance company and went to San Francisco for training. In the cellar of their building, where they did bodywork demonstrations for new adjusters, was an area where they stored some recovered thefts. One of these was an actual 427 Cobra with the factory real magnesium Halibrand Mags, factory roll bar, side-mounted exhaust, and an intake manifold with two four-barrel carbs. This was a limited factory option car, no custom junk.
The story was that the car's owner called his agent to get it insured, claiming it was a Mustang or some other cheaper car. The agent added it to the policy without seeing it, a big no-no obviously.
The Cobra was stolen and later recovered by the police. The owner was paid as if it was a Mustang, $4500, as that is what he claimed it was. That company wouldn't have insured a Cobra under any circumstances anyway.
Anyway, I was offered that car for what they had in it, that $4500. To me, newly out of school and poor, and in those days, it was like $100,000 now. I thought it was a good deal and that I could probably sell it for more than $4500, but the exotic car market appreciations hadn't happened yet and so there was no way that I could have known that at one time that car woud go for.....one. million. dollars. You can't look back at good deals in cars, houses, etc. Nobody knew.
I have driven a real 427, the fastest one in American road racing. I was just trying to be careful, so didn't really wring it out. It was plenty fast as you might expect. And it got a ton of attention in all its redness and noise.