Current values

[dereksharpuk]

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?

[Gfhug]

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

[cactusman]

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...

[dereksharpuk]

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.

[cactusman]

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.

[dereksharpuk]

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.

[Gfhug]

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! )

Geoff

[cactusman]

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.....

[Simon P]

I was at a Brooklands auction about two years ago when a near concours (there's always room for improvement in my book ) 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