Mileage and Value

[Dad]

Hi Everyone

I have a very low-mileage (approx. 5,000 miles) 1966 series 1, as it has an unusual story of being sealed in a Californian garage for decades, untouched, without a trace of rust anywhere. I have good reason to believe the mileage is accurate, given photographs and service records.

It's been restored, now lives in Canada and is in very good condition with matching numbers throughout.

How much difference will miles added to this car change the value? I appreciate that's an incomplete question, so let's say I doubled the mileage. What would that do to the value? Are there kind of accepted rules in this business regarding mileage and/or very low mileage classic cars?

Many thanks in advance.

Dom

[Series1 Stu]

Hi

If it has been restored then the mileage is largely irrelevant, in my view. The low mileage would definitely increase the car's desirability and value a little but not as much as it would if it was unrestored. Truly original cars are generally considered to be more desirable because the driving experience is as close as you're likely to get to driving them in period. The restoration process generally removes some of that.

It's interesting that it needed to be restored given that it was sealed in a Californian garage for decades?

I say drive it and enjoy it!

Regards

[Dad]

I suspect I’m using the wrong term. ‘Polished’?

[Tommd]

Are you saying the paint is original? What about the interior?
Tom

[Allrand]

Photo's, photo's, something to drool over?

[mgcjag]

Look at this recent thread on JL....5k miles S2 sold for $276k....so there's your answer..use it and drop its value....Steve https://forums.jag-lovers.com/t/superb- ... s-2/450622

[Gfhug]

It’s a Series 2 with Strombergs so not as valuable as a similar S1 3.8. Ok, in pretty much original condition, but why buy it if you’re not going to drive it? I’d have thought if it were it appear in any “concours” show then it will always be beaten by an earlier car in the same condition.
Drive it, enjoy it. My opinions for all they’re worth.

Geoff

[mgcjag]

Hi Geoff....that S2 was sold for far more than most S1...dont forget that to get that price it took at least two bidders....if the poster above is just after value then its probably at its highest now....add milage and it just becomes other S1s.....Steve

[44DHR]

Just my two pennyworth.
I don’t think Mileage and Value are directly correlated - as Mileage is a fact, whereas Value is a subjective matter and conditional on many factors.
Low mileage - especially on an older car - can be a bad thing in that these cars need to be regularly used and the various moving parts and rubber seals in brakes and clutch components exercised. I remember one lovely V12 E Type locally which was garaged from new and minimal miles, yet the main crank bearings spun and were damaged when it was eventually fired up. My mother had a new Renault Clio which was only used to drive a mile each day to collect the daily papers. She would complain to me that it wasn’t running well, so I just used to take it for an “Italian Tune” by driving it enthusiastically and once returned to her she was very pleased with the result ! When she past away, the car had minimum mileage for it’s age, but due to it’s lack of use potentially was in worst condition than a well used car which had been regularly used and any mechanical parts serviced.
I don’t like static shows, but if we take our car to a show, the usual question from Joe Public is “what’s it worth ?” I alway reply to that question and any other material object - that anything is only worth what someone is prepared to actually pay - and certainly not the value that some sellers seem to ask. This “true” value can be arrived at by different people in different ways, dependent on their viewpoint. The car could be 100% original, but I personally don’t do concours as I prefer my car to stop with reliable modern brakes, ride on radials rather than old crossply tyres, see with modern halogen headlights and the engine to run more efficiently with modern ignition and fuel systems. Each to their own and the actual value of any car depends on a buyers viewpoint on such modifications and the history of how the mileage was obtained.
Just my view,
Cheers,
Dave