Where The Money Went
This list represents what it would cost to have the engine built buying the parts a la carte, and having a decent engine builder assemble everything. Though many of the parts used in Smeding's crate engines aren't available to the public, we've still provided estimated mail-order pricing that compares favorably to similar items.

Smeding 427 Cobra Special
Small-block Ford Windsor
Displacement: 427 ci * Bore: 4.125Stroke: 4.00 * Compression ratio: 10:1

Block: Dart four-bolt (31355235) $2,248.95
Crank: Smeding custom forged 4340 $800.00
Connecting rods: Smeding H-beam forged 4340 $450.00
Bearings: high-silicone race bearings $145.00
Pistons: KB custom by Smeding $800.00
Rings: Total Seal low-friction $120.00
Heads: AFR custom by Smeding $1,900.00
Head gaskets: Cometic multi-layer $130.00
Gaskets/seals: custom made for Smeding $50.00
Camshaft: COMP hydraulic roller (35-522-8) $249.75
Lifters: COMP (851-16) $209.95
Pushrods: Elgin (34B) $74.98
Rocker arms: Scorpion 1.6 ratio (SCP2018) $259.99
Timing cover: aluminum timing cover $120.00
Timing chain: true-roller custom for Smeding $85.00
Intake manifold: Edelbrock Victor Jr. (2981) $279.95
Carburetor: 850-cfm Mighty Demon (5563020-GC) $449.99
Oil pump and pickup: Melling (M83) $28.95
Oil pan: Canton road race style (15-660) $239.95
Oil pickup: Canton (15-661) $39.95
Oil pan gasket: Engine Tech one-piece silicone $28.00
Harmonic balancer: Pro Race (64269) $305.00
Distributor: Pertronix Flame Thrower (D231800) $240.39
Spark plug wires: Moroso custom by Smeding $65.00
Spark plugs: Autolite (3924) $12.00
Hardware: ARP $275.00
Oil and filter: 10W40 non-synthetic and Fram filter $32.00
Misc. fluids: assembly lube and sealants $25.00
Labor: machining and assembly $1,900.00
Dyno time: dyno and tuning $700.00
Total:   $12,264.80
Smeding Performance’s Crate engine price $9,995.00