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Presumably the $65k bid was the owner trying to create interest! I do hope it gets the restoration it deserves.

https://www.ebay.co.uk/itm/Vintage-supercharger-Arnot/323558530465?hash=item4b55975da1:g:5eUAAOSwQctbTPpT:rk:1:pf:0

This may beof interest. 1939 brochure

https://www.ebay.co.uk/itm/AC-CARS-1939-RANGE-BROCHURE-jm/350617891265?hash=item51a27471c1:g:GAoAAMXQgoBRhISb

I note that they state 'is open to pre tax cars and bikes only'  what are pre tax cars or is this a misprint for pre war cars?

https://www.ebay.co.uk/itm/AC-Ace-Aceca-2-0Litre-Pistons-Liners-VSCC-Frazer-Nash/223109199926?hash=item33f2583836:g:z1EAAOSwawZbYB5a

I don't know if this thread is of any help.
https://www.acownersclub.co.uk/forum/index.php?topic=848.msg9138#msg9138

Apologies, I can't help directly, have you googled '3 brush dynamo' there are a lot of diagrams there, you may be able to deduce the correct connections.

https://www.invaluable.co.uk/auction-lot/auto-carriers-ltd-1912-1998.-a-collection-of-ac-6324E5FA18

May be of interest.

Some Tyres are said to develop flatspots if left for any length of time without use, in my experience these quickly vanish with use.

I see it sold for £39,675-  inc. premium.
Hopefully the new owner will put it back to an AC engine.

I expect that this is well known, but just in case.....
www.graemehunt.com
Were advertising a 1967 428 fhc described as official factory road test car.  However it's not appearing on their web site.

The forthcoming Bonhams auction has a 2-4-6 from 1937, because of its non standard running gear its estimate looks low.
http://www.bonhams.com/auctions/24874/preview_lot/5144373/
At the same auction there is a Vintage AC, an early Ace and a ME 3000.

I would have thought that even a couple of years ago, a Cobra at little more than Ace Bristol money should have raised a question.  And selling it on because the cost of the annual road tax was too high sounds a bit lame.

https://24hrnews.co.uk/2018/01/30/man-sues-dvla-for-150000-over-sports-car-logbook-change/

Are you intending to do much of the work yourself, or give the job to a specialist?
   Which engine are you looking to source?  AC;  Bristol;  6cyl Ford or something else?
   It does sound as if your starting point could be very basic!
   If you are going for an original specification and much of the work done professionally, i would want a budget of $200,000-