I have been looking at a few early XK8's, and tomorrow I want to buy one. KBB for a private party sale of a '97 with standard equipment and 80K miles in very good condition is $4990. The XK8 convertibles I have looking at are priced from $6500 for a high milage one to like $8500 -$9000 for an 80K miles one. When I question price buyers tend to say something like "Blue Book private sale and trade is low to help dealers. A serious buyer will pay retail plus even for a private sale with no guarantees." Is this true? I don't want to be "mean" and loose my dream car!

My first post so I say Nice to Be Here.

 

Car valuation guides are just that, guides.

Look at eBay completed auctions for actual sale prices. Or Mannheim if you have access. That said prices are all over the map on the early XK8's. I'd figure a number you are comfortable with for the car and then a decent number to bring it up to your satisfaction (they will all need something). Add those two numbers and you have a total budget. Buy a cheaper car, maybe do more work, and vice versa.

I'm sure this isn't much help though.

Sorry,
dsd

 

Complete Suspension/Brake rebuild on an 80K mile car is going to be about $1,200, even if you do most of it yourself. Figure $2,000 if you pay someone.

Every 80K mile '97 is going to need the suspension rebuilt and the brakes redone.

Every '97 is going to need the Timing Chain/tensioners changed. Figure $600 to do it yourself, At least $2000 if you pay someone.

If the car has no codes, put the shifter in manual and see if you get a transmission fault. Fixing the Transmission? easily $2K.

Does the top work flawlessly? Fixing the Convertible top?, easily $1,500.

Are the seats perfect? fixing cracked leather interior? Easily $800.

Is it making sense why people are asking $9K for an 80K mile car? They probably recently spent $4K -$6K on it. If these cars Don't have any of this work recently performed, subtract the "pay someone" value off of their asking price.

 

Oh, I paid $4500 for my 84K mile very good condition Coupe. It needed suspension (clunks, squeaks crumbled upper shock mounts, bad shock lowers, torn ball joint boots, very sloppy inner tie rods, bad front wheel bearings) and brakes (deeply scored rotors, thin pads in front) which I all did completely myself (about $1200).

Timing chain/tensioners were done 7 years ago by a previous owner (according to carfax).

Transmission works fine in D but faults in manual(I bought car to LS1/T56 swap so no big deal). Interior is an 8/10. Original paint/body is 8.5/10 considering its age. Coupe so no top hydraulics. Seller probably would have taken $3800.

 

I have a 98 XK8 in excellent condition. Had all the usual dealer fixes, and I recently put new tires, shocks, mounts,and a front bearing.

I had a firm offer on my car today for 10K. I accepted it on a handshake.
The guy shows up at my door with cash in hand a few hours later.
I looked at the car and changed my mind.
I just know I could never get a car like this again.

As the saying goes..... Value is whatever someone is willing to pay.
There is no "book" on these cars.

Also... You might want to factor in potential insurance savings. There are insurance companies that insure these cars as collectables at a substantial discount.
I put 2500 in repairs, but save about 1200 a year on insurance. Nice to know that my car is paying me back.

 

Welcome to the forum Mike,

You're getting good advice here in this thread. Check the FAQ's for regular issues with the XK8/XKR and factor any items needed into the negotiations.

Graham

 

If the owners are so sure of the car ask for the maintenance records to see what service was done and when. Note any 'gap' years. Then respond that for the premium price you'd expect a car to have had it's maint, if not then negotiate from there. As Graham said review the information here on what you maybe in for, knowledge can be a bargaining tool

 

Thank you all for such constructive input. When I get one you will hear the story.

 

I look at it this way: This is a low supply and low demand market. Valuation based on average sales is not terribly useful.

When I was searching for my car, I ran across cars I would not have taken home for free, and others so nice they had no common ground with any type of book value (and worth it, too).

 

I bought my XK8 convertible last May. For the car I got it was a great bargain. Even after the 3,000 I put into it after taking it home. If the timing chain tensioners have been switched out the car is worth more. The throttle body is still throwing codes on mine. I knew it needed tires. I got lucky on mine as the tensioners were switched out but there was no record of it. I checked it out when I replaced the plugs. My transmission throws a code when the lever is put into the manual side. I just drive it in D.

 

This is true especially for cars but, interestingly, for many other things as well. You have to figure that someone who gets it into their head that they really have to have an XK8/XKR would be willing to pay more than some idiotic blue book suggests. I have found that whenever you are looking to buy some "specialty" item you end up paying a premium (unless you stumble into something) but that when it comes time to sell, you take it in the shorts.

Perfect example not related to cars is when my old Microsoft wireless mouse decided to die. I really liked this long discontinued mouse and when I started hunting around on ebay I found a few sellers that had these NOS (new old stock) and the prices were astronomical. Same thing when I was looking to replace my lousy 20-year old Seiko watch (which I happen to like) and getting a spare particular model digital camera. Sellers of those types of oddball specialty things figure than anyone looking must really want one and jack up the asking price accordingly.

Doug

 

Don't believe everything you read in a book. The market sets the price.

 

Markets always set price, but KBB claim their numbers are actual sales numbers updated monthly. So they are what the market is saying.

I am thinking maybe it is buyers under reporting to avoid sales tax that makes KBB low. Others believe that the numbers are just chosen by the auto industry to suite the new car trade, but I don't see how book being understated would help.

 

It seems to me that Kelly Blue book prices are always too low, every time I have been either buying or selling something their numbers just were too low. Like others said look on ebay and craigslist for what people are asking and decide what you're will to pay. Value is only what someone is willing to give, books can say what they want if no one is will to pay that figure.

 

BUT WHY? KBB claims to be based on realtime actual sales transactions!

 

Mannheim or other Auction results are probably the best indicator of dealer price levels (IMO).

Dealers want trade-in values low, so they can pay less for your trade in. Its easier to sell for a higher number than the book then buy for a lower number.

 

I bought. I think I negotiated a fair price based on this threads feeling that KBB really is low.

2003 XK8 Convertible. 86,000 miles. $9,500 + tax and license.

It was a consignment at a luxury car dealers lot. Mine was the cheapest car there. They had used used Ferraris at $175,000 and a used Goilf Cart for $18,000.
Everything looks OK save these ISSUES:
Drivers door hangs low on hinges.
Drivers seat - no tears or stitching loose but leather top layer peeling in places.
Front suspension has not been serviced. Needs bushings and shocks as some thump over speed bumps.
Wood facia panel in front of passenger has three cracks in varnish.

I'll look for a new members/buyers thread. Thanks for all your help in my buying experience.
Comments welcome.

 

Just replace the seat cover, $300.....I replaced everything in my front suspension, everything from shocks to all ball joints and anything rubber, doing the work myself and some machine shop charges for pushing bushings out/in, $1K....
You can source replacement dash panels on eBay but matching is difficult unless you replace the complete dash, a complete dash can be found for anywhere from $500 up but you have to look and wait for one to come up, a lot of folks wrap the wood which is a good look if you like it. Cracking is common so beware when buying replacement panels, there's a guy in Florida, British Auto Wood, that will refinish your complete dash.
The drivers door hanging low would be a deal breaker from me, unless you can see an obvious reason for that I know of no adjustments.

Don't expect to recover any repair cost n resale value, you buy these cars because YOU like them not for possible resale value.

Good luck and welcome to the club, oh buy the way the polished Appolo wheels on your car are the best looking stock wheel Jaguar ever made.

 

Congrats! Where in California are you?

Doug

 

I'm in Bonsall. My Signature says that now. Bonsall is next community inland from Oceanside. I am closely bordering Vista.