Without looking at a book value, there seems to be a misconception of a true value for this car.

My 1998 XK8 with 46K miles is already recognized by insurance companies as a collectable, and as a result qualifies for a limited driving discount.
That tells me that there's more to this car, than what's on the surface.

What are these cars worth today? I hear they're going up, yet there's no demand for a 1998 Jag XK8.

How would I place a value on my car?

 

Check NADA.com

 

In my neck of the woods they sell between $4500 and $7000......Mike

 

I just looked on nada and says average retail is about $8700

 

At a Barrett Jackson Auction its worth about $14,000. On Craigslist, about $7,000.

Rich guys still seem to like them. Poor people seemed to be scared of them. It's hard to find a nicer car on Craigslist.

 

Its an unanswerable question, its whatever someone will pay on the day. I think all XK8 owners overvalue their car as they are convinced they are are a classic and so the price must go up, right? I've just had a look round for an insurance deal on mine and after filling in the details it came up with a value of £2200 and yes its an immaculate 1998 model, last year it came up with £2500 , so insurance company's are convinced they are going down in value. You can change the valuation if you want to, but when the s**t hits the fan and you have a crash, they will wright it off in an instant rather than repair and you are left with a wreck and a then a fight to convince them its worth more than they are offering. Honestly, get you head out of the clouds, it isn't a classic yet, maybe in 10 years or more.

 

I agree with this 100%.
This is my opinion as well, and the reason I started this thread. I spoke to 2 insurance companies and both were wiling to give me a policy based on "agreed value" and calling it a "collectible". The premium quote was starting at a paltry 130.00 per year for a policy with 300k coverage and comprehensive fire, theft and collision.
I found that rather odd that an insurance company would call this a collectible and offer a discounted policy at all.
All this raised a little curiosity on my part.

 

I have mine insured on an agreed value policy for $7000, and $136 a year. The agreed value policies are cheaper, because they do not expect you to use the car as a daily driver, even though they give you unlimited miles. They are written mostly for true classics, and trailer queens.

I can't say anything bad about the company I am using(Grundy), because I have even needed a tow a couple of times on various cars over the years, and got my money back within a week. I have a friend who even had his insurance help him find a NOS fender after a small accident.

I thought your question was more along the lines of what you could sell your 98 on craigslist, or at a dealer for, and not what you could insure it for. Best of luck........Mike

 

If you insure for agreed value, I would suggest at least $10K so that you have a chance at replacing it without spending too much out of pocket.

There are several cars on ebay at any given time that could be bought for $5K or less and then brought up to date for a few thousand, providing you DIY and the car doesn't need a repaint.

 

I've been thinking of dropping Geico and going with one of the collectible ins. companies (e.g. Haggerty, Grundy). I'm surprised they allow unlimited mileage but don't you have to prove that you own a second car and state that the XK8 isn't the daily driver? I was of the impression that they don't want your business if you use the car for anything more than Sunday drives and trips to/from classic car exhibits.

 

I couldn't get insurance unless I had a primary vehicle. In my case, my policy is exactly for its intended purpose. I intend to use the car for weekend joy rides and pleasure.
I have a Ford Explorer for every day use.

Being able to save at least 1K+ a year on insurance is a big plus for a pleasure vehicle.
Not many cars qualify for that privilege, while giving you a "modern" feel and ride.
The Jaguar XK8 was built way ahead of its time, and easily fits in with today's cars on the road.
I went for dinner last night, and without saying a word the valet offered to park the Jag XK8 with the Benz, Masurati's, and BMW's to avoid door dings.

 

I have 4 'collector' cars, including the XK8, with Grundy and spend just over $400 per year total. I 'declared' their value at the max they would allow. What you will find is that the difference between a $10k and $14k value is just a few bucks.

You do have to also have a car less than 5 years old for each driver in the household. My Expedition was a little more than that but I got special dispensation that allowed it.

 

What's it worth? As oft stated, what someone is willing to pay on the day.

This side of the pond, values are higher which is odd given that rust is an ever-present danger. There's a low-mileage '97 on Ebay UK at the moment asking just shy of £17,000...

I have mine on value agreed insurance of £8000. It costs peanuts, but required an independent valuation, pictures all round and imposes a 6000 mile annual limit.

TBH, I'm not really worried about it's market value.

M

 

You do need a second(Primary) car, and a garage to park your XK8. They do allow unlimited mileage though. I use my XK8 almost exclusively, during the spring, summer and fall, when the weather is nice. I use my X Type when the weather is not that great. I have taken 1200 mile vacations with my XK8. I also drive to the beach during the spring summer and fall, because I live 15 miles away, and I really like taking pictures of the animals and waves.

I don't leave my XK8 out of my sight though, because I have too much invested in her.

They don't want you to use the car as something you would take to Home Depot, and pick up bricks. That is pretty much what any collector car insurance company would want......Hope this helps.....Mike