November 17th 2016
Due to the fact we specialise in Jaguar E-types, we always like to keep an eagle eye on the market for how prices are evolving and moving. Be it auctions or classifieds, we know the ins and outs of E-type pricing, or at least we thought we did…
The Classic Motor Show at the NEC held by Lancaster Insurance is the place to be to get your last dose of classic car action before the winter fully sets in. As avid car fanatics, we were eager to watch the auction held there by Silverstone Auctions as it offered a wide range of classic cars including several E-types. This not only would be interesting and a great place to judge the classic car buyer’s view on E-types compared to the other options in the classic car world.
Saturday’s auction showed a good headwind as the E-type’s came under the hammer with an economically restored Primrose Yellow Series 3 OTS selling for £81,563 and a Californian Series 2 2+2 went for £34,875; both prices were what we would expect but showed that the E-type was in good health.
Sunday, however was a different story with no less than five E-types being offered, the results were very promising with all lots exceeding our expectations in terms of price. The first under the hammer was a Series 1 4.2 that had covered 16,000 miles since its restoration in 1999, it sold for £146,250. As an E-type restored 7 – 8 years ago and not being in perfect condition showed strong performance for RHD examples.
Other E-types sold on Sunday include a restored Series 1 3.8 with only 2 owners from new that featured in an F-type promotional video, it went for a healthy £171,000. Another Californian Series 2 2+2 was offered but this one sold for an amazing £70,875, although it had been restored this is more than double the price of the one sold on Saturday. Lastly a Series 3 OTS in need of a full restoration went for £69,750, a high price for a non-functioning Series 3 E-type.
The second E-type of the day I have left until last for a reason; it was the most surprising due to price: another Primrose Yellow Series 3 OTS, this one went for a huge sale price of £119,250. An unbelievable price for a Series 3 car with thirteen owners from new and missing history. Although stated to be in excellent condition, the car was restored in 2007/8; the price paid for this car is almost 1.5 times the price of the similar Series 3 mentioned earlier which both have their pluses.
The bottom line on this, is that while E-type prices are showing a strong tailwind, there is possibly more to come in the near future and especially within the Series 3 market, watch this space!