I just spotted a S-Type 3.0, 2001 (224.000km) for sale cheap due to "transmission damage".
I asked for more details and the owners really do not want to spend a minute of time with the car, hence, they do not even know, if the problem is low transmission fluid (ATF).

The described failure is:
"I drove it home about 13kms. It is slipping and free revving, It was worse going up hills . As it got hotter it was slipping worse."

Is that description enough to know that it is just low ATF, or is that more serious, like torque converter, clutches or other serious transmission damage?

 

PS: My above question is obsolete now:
Less than 24 hours after it was listed for AU$1500, it is already sold. It was about 400km away from me - had it been any closer, I would have bought it.

 

I’m thinking you dodged a bullet.