The big story
Jaguar Mk2 values rising
‘They are out of favour but they will come back’
There are a few cars that have remained at the heart of the British classic movement – Morris Minors, MGBs, Minis and compact Jaguar saloons in MkI and Mk2 forms.
Everyone seemed to want one during the last boom, and Mk2s in particular were in and out of classic dealers in the blink of an eye, especially if they were red with chrome wires, and in bigger-engined 3.4 and 3.8 forms. Interest in the 2.4 and MkI was, by comparison, minimal. Today’s market is different from that of the late 1980s, but some might be surprised to learn that demand is slackening-off. The market, it seems, isn’t coldshouldering the small Jaguar four-door, but it is re-valuing cars in favour of buyers.
None sold at auction in January, but ACA did shift a pair of Daimler V8 250s, a 1968 car making £8610 and a 1969 example, £3675. Silverstone sold a 1963 3.8 in February for £24,750, but things improved in March, H&H selling three at its Duxford sale, including a 1968 340 re-engined with a 4.2litre engine that sold for £33,750.
Nevertheless, the compact Jaguar isn’t the halo motor it once was, as CCA sales manager, Gary Dunne, explains. ‘ We would even go as far as to say that values of these cars are actually softening. The main reason we think this is happening is simply that the cars aren’t as topical or fashionable with as many buyers as they used to be,’ he says.
‘For example they used to feature heavily on many hit British TV series, but less so now. Many are holding their own but they are not moving up in the way of, say, Jaguar E-types. On the positive side this makes them great, affordable cars and at the right condition and level, examples will always find a buyer.’
Gary is not a lone voice, and Barons’ director Peter Gascoigne highlights the pitfalls of ownership. ‘It’s that unusual blend of a beautiful
car that is practical,’ he says. ‘So why are prices sticking at the moment? The cheaper 2.4 is slow and thirsty, while the bigger models are just thirsty, and if you have a Moss gearbox and no power steering they are very heavy to drive.
‘Restoration of a Mk2 is always going to be expensive, costing at least £1000 per side to do the door sills properly. Today’s new buyers don’t necessarily know about Mk2s, as dad probably didn’t have one. They are out of favour right now but they will come back, they are just too beautiful not to.”
Thanks to TV shows like Inspector Morse Jaguar Mk2s were very hot property. Things have cooled down, now.