Are 3.8 Litre , manual prices , around the world , likely to go the way of the E Type any time soon

 

Not from anyone I have talked to. I was talking with a Jaguar restorer the other day. He loves the MK2s but doesn't have any in his long que of work because they just don't have enough value to make it worth it.
Sure they will go up in value in proportion to the cost of restoring them, but if you are looking for an investment, other cars are better investment options. On the other hand, with a MK 2 they are undervalued in my opinion, and are lovely cars which should be a pleasure to own and drive.

 

The prices will only go sky high if one hits the auctions and is bid over the top, then it seems to bounce all over the world and make it harder for anybody to buy one, let alone buy the parts.

 

I have gotten a LOT of positive response when I show friends pictures of my Mk2 now, as-is, before the resto. I think people are tired of seeing the "same ol' same ol" on the streets and Mk2s are definitely shapely. Lots of curves. OTOH, I live in Oregon, USA. We don't have many classic Jags here. If people saw them all the time maybe my response would be different.

As far as future values of any commodity, who knows? Buy what you love, restore/configure it to the level you want to see everyday, then drive the heck out of it. Isn't that what you would do with a new car? I intend on paying less for my Mk2+TheResto than I paid for my wife's new car. Even if I blow my budget and that figure doubles I have a hot-looking Jag for less than a new Jag. And I will be happy that I helped rescue this "rolling work of art" from the landfill.

That, IMHO, is a better investment than money.

 

That said, if money is your focus, maybe this should be your guide:

https://www.hagerty.com/apps/valuati...ar-Mark_II-3.8

 

I think all Jaguars will continue to rise as the new Jaguars have shifted to the higher end of the market. Now it is pretty hard to buy a Jaguar without spending close to or over $100K. Additionally the designer of the MK II, Callum just finished his modified restomod MKII and already has orders for the limited run of 12, those by the way are going for $350,000 to $375,000 dollars.

 

Thanks guys

The enquiry wasn't so much can I make money from buying a Mk 2 so much as , i would like to buy one in a couple of years, are the prices going to go stupid like the E types did.

The styling of the Mk 2 is a big factor in the desire to have one.

My other weakness is old land rovers

I have cleaned out the collection and kept a 1978 SWB S3 .

A very tidy, original car but not concors , with only 70000 kms on it

The thought was to get something similar to that in a Mk 2

Pete

 

I too think the Land Rovers are cool but to make them a modern cool 4x4 will take a LOT of money as does the Jaguars regardless if you go stock or restomod. Thus I think you should really think it through if you have the resources to finish two cars that are not cheap builds? To me for a stock Jaguar that you want to remain fairly stock I would recommend to spend the money and get one already completed as you will save money, you may just need to get a loan to do so but that would be better. If you want to customize it more like my preferences for a restomod then you should think which is more important because if you are already worried about the cost to buy a car to then start upgrading I do not think you have the resources to do both and finish them? You do know as an example to restore the wood on a Jag to true concourse level you can spend $5K on that lone


In US dollars you can probably get a good Jag already done to stock for $30-35K and you will likely spend more if you try to do it yourself and take a long time to do so; remember the majority of people that do project cars never finish them. Cash talks so if you have the cash the best way is to buy a Jag or even the Land Rover already done. I have seen fully restored Land Rover wagons sell for about the same $30-45K but believe me I have researched companies that will build it for you and it is pretty much about 100K. You have to love to work on cars to do it yourself as a restored Jag or Land Rover will be cheaper purchased already done.


For restomod Jag or Land Rover you might need to do it yourself or pay someone as it is hard to find one done that way and done right. I have seen Land Rovers restomoded to either a Jag V8 or a GM LS V8 but they sell for 100K easily just like the Toyota Land Cruisers wagons with GM LS V8's will go for over 100K. The reason for the high prices for a pre 1973 Jag or Land Rover as well as Toyota is that those are smog exempt in the US and there are companies that specialize in those builds so the cars are getting scarce and going up. A Land Rover or Toyota Land Cruiser wagon restomoded with a LS V8 is amazing but that is NOT an easy DIY build and NOT a cheap endeavor either way

 

A Mark 2 restoration is likely only to be economic if a lot of the work is DIY. I restored mine in the 80s because I loved the car, not to make money, When I sold it I got back all my spend plus some over, but if I had contracted out all the labour it would have been a very heavy loss. Anyway, it kept me out of mischief for 7 years. Wife always knew where I was !!

 

Hi team

Primaz. I think you're 100% right about buying someone else's project. I am in the club here in Victoria , Australia and I reckon either a faithful restoration or a 2 owner fully original but well looked after will come up , at a fair and reasonable price if I wait long enough.
My 1978 , 2 owner, low km ( 70000 )Series 3 Landrover is already 90 % there and is completely original , just in need of a small tidy up and some minor tinkering.
That is the type of Mark 2 I would like

Frase . I hear ya brother. My wife says I spend a lot of $ , time , love and passion on my cars. I told her I don't smoke , I don't drink , I don't do drugs, I don't go around with loose women and you know exactly where to find me.
What a great catch I am ( and modest)
My hobby is good, clean ( well sort of ) healthy, fun.
Beats sitting on my butt every night watching the teev

Pete

 

Pete, Fraser - Exactly. If it's not for spending on the finer things in life, what are we saving all the money for anyway? Good luck with your hunt

I agree with Primaz that Jaguar prices are on the rise but I don't think "stock" Mk2 prices are ever going to compete with E-types.

 

The problem for me is that I could go out and buy myself a really nice Mark 2 tomorrow. I'm not into rebuilding one again ! However, I have nowhere to keep it. I wouldn't want to keep it in the open, and my garage already has an MG Midget in it, my mother's garage has an MG TF in it, so there is nowhere !


And, of course, I already have a Jaguar !

 

from my observation the values of these cars have plummeted over the past 8 years in USA.. along with many other pre '74 4 door sedans.. the S types (arguably a finer car than the mk2 ) have always been soft.. and the 420s tend to be unwanted orphans except to the very few who appreciate them .. same with Mk10 and 420G.. I recently drove 2 days to check out a one family owned car ( '65 3.8 mk2.. manual overdrive and other nice options) but passed it up due to the purchase price + cost to bring it back ..was unable to calculate the cost to get the engine good again (it had locked up due to sitting some 30+years..and the coolant had 'disappeared'..it may have found it way into the cylinder bores.. not uncommon..and costly to fix ) .. someone else bought it.. and they also figure out it won't pen out..so its back for sale (this time on eBay) ..with some of its obvious flaws not shown (nor did they declare the repaint..its described as 'original paint..which it aint) .... will make a super nice car, due to its relatively unmolested condition.. but whoever puts it right will be well under water by the time they are done.. unless they buy it for under $12k.. which is about $10k less then the seller is seeking..

 

Four door cars are always a bit slower to rise as fast as sports cars but I would disagree that the prices are soft. There are some select models as was said like the 420, MKI, and older more boxy sedans that are a bit soft. I have watched prices since the last 3-4 years since I purchased my 3.8s and the cost of a fully restored one is on the rise and cars that need work are also a bit higher than when I purchased mine. This link does show that the prices for a MKII are still affordable but going up
Jaguar Mk2: Market Watch | Classic and Performance Car


Regardless these cars are not a cheap DIY car to either restore and customize. Thus if you can find a car the way you would want to ideally have done right now by someone else ready to sell, you will do better purchasing it rather than doing it yourself unless you love the process of building. When you see a car for sale in CA that is not fully restored the prices are definitely higher now and as tjt77 states most will cost more to restore than you can buy them now. Those prices for ones restored are definitely higher and are slowly rising. To me this is a good time to purchase one as the prices will continue to rise especially for a 1973 or older model.


Bottom line buy it if you love the car regardless as they are meant to enjoy but they will increase in value for sure. I built my custom restomod for my enjoyment and love it. I was pleasantly surprised as I have already been offered by two people to sell the car one for $10K and the other $15K over what I have into the car which most of the work was done at shops but have no plans to sell it...

 

The ONLY good reason to get involved with this hobby is if you have a passion for the cars .. as has commonly been noted :- 'If you seek to make small fortune with classic cars, start with a large fortune'.. several issues set the popularity/value .. who do they appeal to ? mostly older people, most of those who were around when the cars were current are now deceased.. very few of the up and coming generation who have the time and funding to explore classic cars and are simply not interested and have 'other' hobbies to use up their leisure time.. the Mk2 jaguars were always remarkably good cars...elegant, great 'presence' and abundant performers..especially good as regards 'bang for the buck'.. as to 'values' and 'return on investment' is a very thorny issue.. one of the easiest cars to 'lose your shirt on' has to be the mk2 Jaguar.. they are extremely costly to restore when deteriorated.. even a simple thing for other cars such as a sun damaged interior is formidably costly to do 'properly' on a mk2 ..and if you DONT get this stuff right..the cars have little appeal.. Ive recently got back into them (and the Daimler version) after a break of close to 20years.. why? I really appreciate them and am not enjoying restoring the MGA's anymore.. started out early last year with an original, unmolested grey '61 3.8 that someone else decided to restore .. took part ..bought lots of new parts ..and then realized he was in well over his head and bailed.. will it go back togeather ? I don't know at this point.. acquired another 5 since them..as well as 4 daimlers.. I hope to get one of the daimler and one of the Mk2s 'done' by the end of this year.. have acquired a couple of 'majestic major' engines for one of the daimlers and deciding what trans to use ..may go with a 200R4.. or may go with either full synchro manual overdrive jag box or a Toyota Supra 5 speed( have both on hand and already have the adaptor for the GM conversion) and have an extra 'power-lok' rear end in 3.45 ratio.. a 'period correct' majestic major powered daimler version makes for a formidable driving car.(I built one in'73) it will leave even a well developed 3.8 in the dust as regards performance.. and the handling is vastly better due to less weight upfront..plus the daimler hemi is one of the best sounding older V8s out there.. I'm also exploring the possibility of putting Rover V8 in one.(which has its heritage in USA...Rover developed the old buick 215..and it remained in production in UK from '67 through '99) there is an abundance of dead range rovers/ discoveries out there in the US junkyards and both the rare 4.2 and the final 4.6 version have very good power and light weight. My preference is for power trains from other UK cars rather than US V8 engines.. personal choice surrounding 'period correctness'.. but Id have to say that a GM 350 powered '80s XJ6 with the GM overdrive auto trans makes a super driving car when done 'properly' ..far superior to the original jag set up that was well past its best when the cars were in production.. and given the pitiful prices and availability of these cars.. makes good sense..

 

The original poster is clearly one whom loves the car but the only question is can he afford the cost to make it a reality given his multiple desires of more than one classic vehicle and limited garage space.


To give you my advice for a V8 conversion I highly recommend the GM modern aluminum block LS V8's instead of any V8 that is not a modern V8 fuel injected and computer controlled. Most restomod cars that command the large dollars are the modern V8's especially the GM LS V8's. Many will view an old school 350 and other carbureted engines as less desirable for a daily driver, etc. My Jag originally had a old school iron Chevy 350 which was not that powerful nor the improvements of a modern V8. Now that I have installed a modern aluminum block LS1 the car is so much more enjoyable to drive and incredibly fast with zero to sixty in 3.9 seconds. I have put 40,000 miles in the first 18 months after completing the car.


I have seen Jaguar saloons with old school 350 V8's, V-6 conversions and others which were all carbureted non modern engines and they do not seem to command anywhere close to the value that a Jaguar with a aluminum block GM LS engine. This same scenario is similar to other classics for people whom want the classic look but want a more daily driver that is reliable and enjoyable to drive. This is why in recent years quality modern restomods of many classics are outselling numbers matching stock cars but only when the modern engine and luxuries are used so that the car drives just as nice as a brand new quality car. People do not want a touchy carbureted car that has issues with change in altitude, hard cold starts with the hassle of a choke, etc.

 

horses for courses really.. engines design and production as well as drivetrainand other running gear has improved radically over the years and the modern high efficiency alloy V8s make perfect sense..there are 'specialists' building MK2 jaguars with modern Jag V8 powertrains and all manner of high end modifications to make the car 'civilized' and user friendly for todays roads. I really enjoy cars modded to specs that were possible, and sometimes done in their day. since Ive been involved with restoring old cars and building them to the spec's I desire and could practically produce for some 40years,and have always had access to the desired old parts required, I use as many 'period correct' components as possible. I am not seeking modern car that looks old..but an old car that is modified as it would have been when it was in production.. many people have fitted US V8s in the mk2 and style as well as inline six and V6s.. is a kiss of death to the cars potential value.. although a good,well engineered v8 conversion produces as better driving car ... a fully re-engineered car with modern mechanicals throughout definitely has appeal to a certain group of people..and hence, considerably more value than a car with an older US V8 such as GM 350 or ford 289.. which seem to be out there for those who seek good value in 'something different'

 

Thanks guys

Really interesting perspectives and inputs from different angles

My reason for posting was really around this statement.

" Are Mk 2 values likely to skyrocket over the next few years like the E types have"

I think we all clearly agree that the answer is no, they will not.

That suits me , because I am a little way off buying just yet.

The subtext to the opening statement is also

" Am I going to do my nuts in resale , with a Mk 2 " If that should become a necessity

Again , I think the answer is no, so long as I purchase wisely, either a fully restored car or a very original but well looked after car.

It seems that a 1966 , 3.8 manual with overdrive is the pick and likely to have any future resale appeal. Old English White with red leather.

In Australia a very nice restored or original car, as above can be bought for between $ 25,000 and $35000 Aus. I am more near the $25000 but who knows.

Interestingly tjt77, I just stumbled across the Daimler 2.5 /250, manual with O/D. Very nice.

I'd think a 1967-69 manual would be the pick here

We don't seem to enjoy the discount on these as applies overseas.

They tend to range in price for similar conditions to the Mk 2 for $20000 - $35000.

I think I'd hedge my bets on sale value retention on a Mk 2 over a Daimler and given they aren't much cheaper here will probably stick with that strategy.

Either way , I am happy to bide my time and wait for the bargain of the century to come up, across either one.

I hear ya about the LS1. My mate just bought a whole driveline LS1 and GM manual box for $5000 , for his replica Cobra. The driveline had 20,000 kms on it only and he was able to drive the wreck before the seller took it out for him . It was out of a written off Holden SS Ute , that had gone backwards, at speed, into a light pole

If I was going to build a ground up racer that is probably what I would do
but given I have the XKR for my need for speed(taken responsibly of course) the Mk 2 or 250 would be more of a period faithful cruiser and car club shows and outings

The JCCV Mk 2 guys are very cool

Thanks again

Keep up the chat

Pete

 

Peter, the Daimler with the standard/OD is rare, most were automatics.


Primaz, I guess I'm old school, but give me a carburetor any day of the week over fuel injected.
Modern electronics in cars may basically appear to be reliable, but how many people do I see stranded on the side of the of the road with some sort of electronics failure.


And how much of those electronics are made in China to questionable standards.
My expensive and crumby "Lumenition" ignition in my Bentley cost me 150.00$ dollars for a tow.
I've had a number of Pertronics units through out the years in different vehicles _ none were reliable...


And that's just the ignition.
While I'm sure FI is great when it works, I however, just don't trust it.

 

Hi Jeff

I think it was a popular mod done here in Oz , maybe as an aftermarket jobby by owners

I think the Daimler 4 sp with o/d came out of the 340 Jag?

There is one here but up in Sydney with a 4 sp and O/D for $22000 Aus

Through our local auction house , Shannon's a few have been sold over the last few years

Dec 2014 - $ 13500
Jun 2012 - $ 10000
Jul 2013 - $ 17000

To be fair , I never saw any of those cars at auction so I dont know what nick they were in. In the web page photos, they looked ok

I'm sort of with you on the carby thing. I'm happy to tinker with jets and butterfly valves and stuff but am an Etronic numpty

Pete