XJS Prices Seem to be Climbing: Will it Become the Next True Collectible Jaguar?
 

Hey everyone! I've wondered for years about why classic XJS and XJ6 prices seem to be stuck in the dumper, and I've just written a post for the HP about an upward trend in what these babies are fetching. Take a look and let me know what you think! The full post is here.

Mixed blessing.

On one hand higher values might make owners more likely to pour some money into the cars. That's means fewer cars neglected, and fewer sent off to the scrapyard. Existing cars will become better. That's good.

OTOH, due to low prices the XJS has been a great hobby car for the DIY enthusiast of more average means...a chance for an ordinary guy to have something sort of special. I like that and would hate to see it go away.

*Personally* I prefer the later scenario. I've owned several Jags and resale value or 'collector value' has never entered into the picture. I'm not looking for return on investment....other than the personal satisfaction I derive from owning one and keeping it in good shape. That's "return" enough for me.

Prior to owning a string of Jags (and a couple MGs) it was a years-long love affair with muscle cars. But I became priced out of the muscle car hobby. They're still a big part of my life as I work on them all the time and that's how I pay my bills, and that's all fine. But ownership is out of the question.

Cheers
DD

Prices here in the US have been pretty stagnant, at least what I've seen @ auctions and Hemmings Mag. $20K here seems only dreaming IMO. I'd sell mine for that in a heartbeat.

I think you might be ignoring a fundamental of economics, that makes that preferred scenario unlikely.

The reason for historically low prices for the XJS is the supply exceeded demand. Demand was artificially repressed by Leyland Era reputations and false notions of the V12 not being reliable. Supply was excessive due to an extraordinarily long production run spanning three decades (oversimplification for purposes of keeping post short).

As time is going by, those demand repression factors, are having a direct result on the supply.

- For a lot of people, the cost to keep the XJS well-sorted, particularly if you have to pay a shop, is far exceeding the perceived value. Therefore, these cars get neglected or abandoned.

- Some cars get driven, but not well-looked after; then a dropped valve seat, engine fire, or other preventable mishap renders the car a write-off and it's gone.

- Some decide they'll avoid hassle by replacing the single most reliable and durable part of the car -- the engine -- perhaps not realizing that the annoyances and foibles of this vintage Jaguar is in wiring, relays, and rubbery bits. Once converted, that car may have fans or interested buyers, but it is effectively removed from the collectible supply.

- If a car was well looked after, but also used daily, the excess supply still would effect decision making. If due to wear or sun exposure, the car needed a new paint job or a new interior, it has been financially wiser to buy a XJS with better cosmetics than to restore the existing one (the irony of finding a well preserved car from a rust POV, is it will be from somewhere that kills the paint and leather). The poor cosmetic car, traded away for the garage queen, will 9 out of 10 times fall victim to one of the above factors and it's gone from supply.

So supply has been dwindling, and I would guess is rapidly accelerating in diminishing, while demand will start to increase as people who were kids from the production run era become older and wealthier.

We've likely already hit the inflection point, that demand is no longer exceeded by supply. In another thread someone (Greg?) posted the number of actual roadworthy/registered/MOT XJSs in the UK. It was shocking how low it was.

Applying U.K. logic to US cars is nonsense. This country is swimming in XJS's. Look at eBay sold listings and the best are $12k, and many under $1k. Frank Sinatras XJS has been resold at auction several times, most recently at $24k. I just got a beauty for $3500. Buyers market, so buy two. I have three.

Mac
I agree. Prices are climbing in the UK with many examples being priced well above 20,000 UKP and those prices are being paid. Cars for breaking have begun to dry up as a source of parts. Now, classic car prices are a phenomenon driven by the same loose-money zero interest rate policies that are currently driving stock market prices. If ever these policies change - voluntarily or otherwise - market prices will drop. But for now, the fundamentals are all going for the V12 XJS: dwindling supply, low prices compared with other classics, interesting engine, fantastic looks.
Greg

I realize that my desire for the XJS to remain an affordable hobby car for is subject to forces beyond my control. I'm just hoping, that's all :)


Cheers
DD

Good thing I didn't do that. Whew!


Buyer's markets only last as long as there is an excess of supply. Being at the inflection point is to be at the bottom of the price curve (when the prices are lowest).

You could buy a beauty for $3500 five years ago. Will you be able to do the same five years from now when the supply is significantly lower, and a generation larger than the baby boomers starts to become classic car enthusiasts?

some of you guys are gonna be so old you cant work on cars, by the time XJS are valuable.

one of my departed mentors called me before he passed and said he has Ruem. Arthritus in his hands!

and cant hold tools anymore, he had a 60 year collection of tools , had auction, what didnt sell went to junkyard!

i would give anything for his skill with tools and metal working.

Greg, I agree with the first part of your statement about zero interest policies etc. but explain why you said " the fundamentals are all going for the V12 XJS " and not rather all XJS' ? Last I checked all the fundamentals you listed were just as much a part of the inline 6 XJS as the V12 XJS.

Fair point; but in the UK, the high prices are mainly for V12s rather than for the 6s. The consensus in the specialist trade (FWIW) is that the V12s will command higher prices once/when/if prices do climb high.

It seems that in the UK many XJSs are made into race cars, if the photos in Jaguar World are to be believed. That would surely seem to dry up their supply. The XJS was primarily designed for export, and there are a lot of them here, especially in California. Perhaps European buyers will start importing them from the US, That would drive our supply down! I do think that regular market forces will cause the prices to rise in the coming years though probably never like the E Type, which everyone has always loved. Who knows what the market will be like in ten years.

Speaking of white elephants, I just bought a '51 Mark VII. It's a complete unmolested example with a great story. It was listed on CL for over a month before I saw it. I don't think that there were any other interested buyers. It was going to go to the scrapper. I know it's not worth anything, but I bought it because I wanted a Classic. Maybe that will rise in value after my XJS?

Already happening. Lots of US cars going to the UK and the Germany (often via the UK).
Greg

every one WINS..


in the UK prices rise... in the US our prices stay where they are due to so many being here....


and we get to drive nice V12 Hobby cars
I need to pick up another one

Come to think of it, I sold a '71 Buick Riviera to a buyer from the Netherlands twenty years ago. He bought three that Summer. Maybe he'll be back looking for Jags?

I have seen a few very nice original unmolested V12 XJS's go for mid to high teens... Lower mileage and nice unmolested condition usually brings a higher price.

What I hate seeing is these used car salesmen picking up the later XJS's and trying to turn a quick profit on ebay, with flowery and sensational descriptions that make it clear they have no true idea or understanding of what they are selling, and asking waaaay more than their particular cars are worth based on the conditions, miles and modifications from previous owners. Kinda pisses me seeing them trying to pass off these sub-par beauties like they are all original and mint condition.

I went to a kind of car museum/restoration/sales place where there were 4 US imported XJ-S' on sale... Now, they all were US models and 2 were converts, the other 2 coupés. All V12s. I'd say aroumd 1988-1991. So not really super rare cars. They cost in the States a lot less.

To show the prices, I made a quick video whilst I was there.


I highly doubt that any of the cars cost any more than USD 5.000. But look at the proce tags. A Series I E Type costs around €100.000 here at the moment. A Series III can be had for aroumd €40.000. So this dealer is already pushing the prices towards a Series III E-Type. I can see these cars getting really dear here soon. And I luckily already have one!

Asking prices are not sales prices. I'm curious if they're selling at those prices. Any idea how much it costs to ship a car to Europe?

The E Type is still a bargain at around $200,000USD for a car that Enzo called the most beautiful car in the world. Try pricing a similar 250 Ferrari of the same vintage $10m+USD I think the record was $28.5mUSD.

XJS prices seem to very market driven, there are a few here in Aus that are asking over the $20kAUD and have been on the market for a LONG time no matter how good they are. I certainly would not buy one as an investment. I just drive and enjoy mine.