Current values

Talk about the E-Type Series 2

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dereksharpuk
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#1 Current values

Post by dereksharpuk » Tue Jul 24, 2018 9:40 am

As stated here, prices are all over the place. I suppose that is partly due to the fact that there are many variants of E Type for sale, from flat floor Roadster to automatic Series 3 2+2. I'm told by one dealer recently, rather rudely, that E Type values have 'gone down the toilet'. Whereas I don't 100% agree with him, they do seem to have dropped back a bit lately. What valuation would learned owners put on a mint, nut & bolt 2018 full professional total restoration of a signal red Series 2 Roadster, matching numbers, heritage certificate, RHD?
Derek Sharp
Series 2 4.2 OTS

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Gfhug
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#2 Re: Current values

Post by Gfhug » Tue Jul 24, 2018 9:55 am

Derek, the valuation is what you feel you would have to pay to buy a car in that condition if yours were written off or stolen. Does your insurance not require a valuation from a club e.g. JEC, JDC etc?

Now if you're trying to test the waters to sell? That is a different subject.

As for dealers, is this an E Type dealer or an Arthur Daley clone? If it's an E Type dealer then ask him/her why the prices they are asking are still high. Arthur Daley clone? Then he's trying to get you to sell cheap to him so he can make a BIG profit selling on!

Another way of valuing, what did you pay for the car, what did it cost to nut and bolt, add the two together.....

Geoff
S2 FHC Light Blue

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cactusman
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#3 Re: Current values

Post by cactusman » Tue Jul 24, 2018 10:00 am

Impossible to say but as a guide the hagerty valuation tool says £89900 for an excellent car and £122k for a concourse....if you believe them of course....
I would say prices generally have levelled or maybe dipped slightly but gone down the toilet is rather pessimistic...
Julian the E-type man
1962 FHC
1966 MGB....fab little car too

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dereksharpuk
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#4 Re: Current values

Post by dereksharpuk » Tue Jul 24, 2018 10:06 am

Well sadly I paid £100K for a reasonable car and then spent £50K making it just about perfect. Not sure though I would get £150K for my 'as new' Series 2 Roadster, matching numbers and heritage cert. One valuation was £100K, another (who did not want it) suggested £150K. Insurance agreed at £125K, before refurbishment.
Derek Sharp
Series 2 4.2 OTS

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cactusman
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#5 Re: Current values

Post by cactusman » Tue Jul 24, 2018 1:16 pm

Geoff...doubtful that adding a restoration cost to a purchase price equals current insurance value for most cars, not just jaguars, unless you got the car for a song or it is of special significance. A nut and bolt restoration may take 2000 man hours and at £50 per hour thats £100k just for the Labour before you add in parts costs. Insured values reflect (or are supposed to reflect) the current market value of your car. You could probably buy a rusty Austin 3 litre for £500 but it could still cost close to £100k to make concourse unless you did the work yourself .....and the market value according to Hagerty...a whisker over £7000...which is why land crabs are very rare!
That's why most will agree that buying a restored car will wind up cheaper in the long run than buying a basket case on the cheap and restoring it....unless of course you can do most of the work yourself.
Julian the E-type man
1962 FHC
1966 MGB....fab little car too

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dereksharpuk
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#6 Re: Current values

Post by dereksharpuk » Tue Jul 24, 2018 1:33 pm

Julian very true. That is why I bought a 'restored' car. I assumed £5K would be enough to sort a few bits out. Unfortunately, the whole restoration was not to my standard and I had to add oodles of TLC. Furthermore, a few bits had been done on the cheap and thus detracted from what I wanted. Now I'm happy but the bank manager is not. The whole process has been detailed recently over 5 issues of The E Type magazine, if you want to know the whole sage.
Derek Sharp
Series 2 4.2 OTS

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Gfhug
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#7 Re: Current values

Post by Gfhug » Tue Jul 24, 2018 1:36 pm

Julian, sorry if my comment might have mislead you, I was only saying that to ask what is it worth to Derek as his investment in the car, which he has answered himself.
I agree with you regarding restoring costs. Your £2 million lightweight (or whatever figure you put on it) costs just about the same to restore as a £50,000 pristine S3 2+2 (go on all you S3 2+2 owners, your turn! :bigrin: )

Geoff
S2 FHC Light Blue

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cactusman
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#8 Re: Current values

Post by cactusman » Tue Jul 24, 2018 3:37 pm

Exactly Geoff and Derek....although I suspect £50 an hour would be optimistic. I wonder what the hourly rate of the premier restoration people is? My view would be that the Hagerty tool gives one a ball park figure but really only an evaluation in the flesh or metal will give a final figure....and of course insurance valuations are usually higher than one can expect to get if you sell. And sadly I don't have a light weight...or ever will.....
Julian the E-type man
1962 FHC
1966 MGB....fab little car too

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Simon P
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#9 Re: Current values

Post by Simon P » Tue Jul 24, 2018 4:26 pm

I was at a Brooklands auction about two years ago when a near concours (there's always room for improvement in my book :wink: ) Series 2 OTS sold for £125k - if that helps give some indication?

E-types do seem to have an extraordinarily wide spread of prices - even within the various 'subsets'. However, good ones still tend to command good money - and having followed yours in the magazine, I'd say yours is definitely one of the better ones.

HTH

Simon
1969 S2 FHC - 1R20258
1993 Lancia Delta HF integrale Evo II

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