EKO Cobra(s)

For no reason at all (really: we don't need one, we don't have the money, we don't have the space, etc.), we've been looking at 12 string electric guitars, specifically at a model made in the 60s by EKO called The Cobra, which shows up on eBay all the time and routinely sells for less than $500.

Does anyone know what the story is with these? Why are they so cheap? And what's the best sounding model? From what we've found (on eBay right now), there are single coil, dual single coil and dual humbucker versions of this thing.

Hmm... maybe we should get them all. Hey, wait a minute!