FINANCE ENQUIRY

From £18,000 to £180,000 in nine months – the story of an E-Type

We spend all day, every day looking at classic cars that our customers are thinking about buying. It’s because of this that we spot a lot of noteworthy vehicles and this one was of particular interest because of its history.

We first picked up the story at RM Auctions through our auction pricing analysis where we record the details of the sale. A client then subsequently drew our attention to the new location of the vehicle when they  enquired about it. Recognising the car, we immediately checked to confirm that it was the same car that had been sold at RM auctions only days previously. It certainly looked like a good, low mileage car that had been restored by a well known marque specialist.

Our second check was on www.xkedata.com which is an invaluable resource of data on E-type Jaguars and over the years we have found it to be pretty reliable provided you are able to read between the lines. The information on this particular car was very interesting…..


NB – The following information reflects some of the information we were able to find about a vehicle online. We have not spoken to any previous owners or seen the paperwork accompanying the service history and we cannot guarantee the accuracy of the information provided (just as an auction house will not do). Our purpose it to highlight the information available to buyers and not to present a history of a vehicle. The description on XKE Data is here.

After two attempts to sell the car on eBay – described as having 116,000 miles – the then incumbent owner who had bought the car in 2002 apparently gave up and the car then reappeared on eBay in the hands of a classic car dealer in California in January 2014, this time listed as having 16,000 miles and in black primer. The car failed to reach it’s reserve at $29,100. The car then disappeared from public view until it was MOT’d on 26th July in the UK and subsequently registered on the 1st August – just five weeks before it found it’s way into RM’s London auction.

Extracts from the auction description. You can read the full description here.

The current consignor brought the matching-numbers E-Type to the UK with the intention of fully restoring it.

This seems to have been the case as it was restored in approximately five months and consigned to auction within nine days of being registered.

Whilst its interim history is unknown, it was acquired by the current owner from a gentleman in California, who is believed to have owned the E-Type for over 40 years. It is said that the car was used sparingly whilst in the U.S., and the 16,800 miles showing on the odometer are believed by the owner to be original.

This is at odds with the information on XKE data and it is possible that the “gentleman in California” is the US dealer who offered the car on ebay. The car was certainly used sparingly over the preceding ten years.

Well-known Jaguar restorers … were entrusted to apply a full cosmetic restoration to the car.

 

Extracts from the dealer description.

One of the UK’s leading and highly respected Jaguar restorers were entrusted to carry out a complete restoration of the motorcar.

The dealer also points out that there is no paperwork to support the mileage but that it is believed to be genuine.

It is said that the car was used sparingly whilst in the U.S., and that the mileage of 16,800 showing on the odometer, is believed by the last owner to be correct, although no documentation exists to support this.

Interesting stuff which serves to show how descriptions can differ. Like many other US vehicles, it sounds like the car was purchased for restoration and a quick sale. It also serves to show how much information there is on classic vehicles is available on the internet – unfortunately it doesn’t tell us which information is correct.

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