Craig,
As someone who has brokered 50+ (I've personally owned 29) Cobra replicas, let me caution you and your client that not all Cobra replicas are the same. I've owned FFR's, SPF's, Unique, Contemporary, and ERA's, been around them (real and replica alike) since the late 70's. If you and your friend are not certain what you are looking at, seek a third party for the advice that will be needed.
Enough said.
Bill S.
PS: The attached picture was my last 289FIA (an ERA).