The Week In Deals with Richard Barnett
Jaguar’s 1960s’ icon is defying the auction experts’ forecasts – here’s why
Market experts say that tempting reserves, rather than a sudden upswing in demand, are what’s resulting in Jaguar E-types currently selling at well above their expected prices at auction.
Bonhams’ 7 April auction at the 77th Goodwood Members’ Meeting featured four E-types, all of which sold, but unsurprisingly it was a 1961 ‘flat floor’ that stole the show. The gunmetal-grey coupé was estimated to fetch £60,000-70,000, having lost its flat floors during
restoration 10 years ago. However, the car went on to sell for £115,000, some 65 per cent more than its upper estimate.
Just days later at H&H’s Buxton auction, a 1963 3.8 roadster pulled off a similar feat, selling for £118,687 after being listed with an estimate of £50,000-60,000.
Series 3 V12s at both sales also sold over estimate. Bonhams saw a white 1972 V12 Roadster fetch £78,200 from a maximum estimate of £70,000, while H&H sold a Primrose Yellow 1972 coupé for £37,687, after estimating a maximum price of £32,000.
James Knight, group motoring chairman at Bonhams, was encouraged by the result: ‘E-types are a perennial favourite and it is easy to see why. I was pleased to see that all those offered found new homes – and was particularly happy with the interest in the V12 which has, perhaps unfairly, lived too much in the shadow of the sixcylinder variants.’
The head of classic motoring at Brightwells, Matthew Parkin, said: ‘E-type values have dropped in recent times, so we’ve all had to be realistic with vendors, which allows an auction house to list the cars with attractive estimates – everyone is just being frightfully realistic.’
James Blackwell, general manager for the Jaguar Enthusiasts’ Club, says: ‘Those prices are about what I would expect to pay for those cars. It’s really the estimates that are remarkable. People are still paying good money for good cars, but the market has stopped growing.’