1958 xk150, value?

A friend of mine asked me to go look at a 1958 xk150 OTS. The owner was a classic car enthusiast, who passed on earlier this year. The sister of the owner asked my friend and I for help selling the collection of cars. The car(s) are in the Boston area (north shore). We are helping her out for free.

Jag: It appears to be a ‘regular’ OTS, matching numbers but color changed. The HC says black/black/black, but the car is now a grey-blue (Cotswold?) with a dark red interior. It’s a manual shift w overdrive.

I had a cursory look at the car and some of the paperwork. It appears to have been nut & and bolt restored by Bill Bassett (RI) a few years ago, and then only driven a very small amount. Other than some grass clippings, even the inner fender wells are clean. The restoration goal does not appear to have been JCNA Championship class but not far off. I noted some incorrect hose clamps, and a new motolita steering wheel,for example. I think the car would do well in the driven class.

The polished aluminum in the engine bay did show a bit of corrosion (damp barn), but overall the car was only a detailing away from being a concours contender (driven class).

Questions:
(1) how to determine ball park value so the sister doesn’t get ripped off by a flipper or dealer?
(2) where to advertise to minimize flippers and unscrupulous buyers?

Thanks for any feedback.

John

Bringatrailer.com? Certainly not Ebay or Craigslist.

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In my opinion, BAT requires the seller or sellers mechanic to be deeply involved to answer questions and deal with idiots. I believe this is exactly what the sister/seller is trying to avoid.

John

Try ClassicCars.com. There are 16 XK-150s currently listed

I’d still stick with BaT. There are numerous BaT auctions where the seller just cannot answer the questions – and the cars STILL sell FAR OVER their worth.
Be as forthright in the description, such as: “We are not Jag experts and we just do not know all the important details about this car – but if you ask for specific pictures, we’ll do our best to get them. However, it is almost impossible for us to do any mechanical checks on the car. You are more than welcome to stop by and inspect the car ahead of time.” Something like that.
They should be able to set a reserve price to cover the event of low-interest.
Have a thick skin, as MOST of the comments are from NON-BUYERS – typical human behavior to voice an opinion loudly, and pooh pooh sales, BUT be in an insignificant nugg in the last row of the peanut gallery.

Craiglist is too limited in its audience, and many potential buyers just do not troll EBay these days. Local newspapers have been out for decades, and Jag Owners clubs are the bastion of true lowballers who are looking to take advantage of a widow’s ignorance. (Tell me I’m not correct!)

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Sports Car Market lists a median value of $112K.
Hagerty lists up to $145K for a #2 car, $75K for a #3.

I think that’s pretty much inline with recent sales:
1959 Jaguar XK150 3.4L OTS Roadster for sale on BaT Auctions - sold for $95,150 on July 18, 2021 (Lot #51,407) | Bring a Trailer
1958 Jaguar XK150 3.4 OTS 5-Speed for sale on BaT Auctions - closed on May 7, 2021 (Lot #47,525) | Bring a Trailer
33-Years-Owned 1958 Jaguar XK150 3.4 OTS for sale on BaT Auctions - sold for $145,000 on November 20, 2020 (Lot #39,417) | Bring a Trailer

I’ve sold two Jags on BaT with very good results. I agree with Baloo above, as long as you are open and honest, you’ll keep the nitpickers at bay.

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The problem is … who is going to answer all the questions? Not me!

John Feng

Thanks, very helpful.

John

Thank you for the good info. I’ll ping the BAT guys to see it they are ok with a reserve and absentee seller.

John

does it say anything about a 2+ or 1- condition car?

John

No, it lists only a median value.

BTW - On BaT, you can almost guarantee a car with a non-participating seller will take a hit on price.

Which is why I think BAT is the wrong place for this lady to sell her car.

John

I’m not sure I follow your logic. Why tell her she has a six-figure car, only to relegate her to a mode of sale where she’ll never realize that price? ANY informed buyer, especially one willing to pay top dollar, will want info about the car. Lots of it. If that can’t be provided, she’s better off with a very reputable dealer or auction house, preferably one who specializes in the marque.

If my wife ever has to sell my 150S, she’ll use Bonhams.

Maybe your right about this.

I was going to write up an inspection report on the cosmetics and mechanicals plus a hundred pics as a document for interested buyers. But as you say, this is unlikely to be sufficient for any remote buyers and won’t help with BAT (which requires live participation). Having the car avail for inspection also seems less useful these days since so many buy cars remoteky. I’m a bit of a dinosaur in that I believe in going to see cars I want to buy, and spending $300 for PPI’s. Selling classics sure has changed a lot since I sold one.

Anyway, great advice. I’ll have to rethink this whole matter.

John Feng

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Photos are no longer an issue. With a “Plus” listing, BaT will send a photographer out and they will take a hundred high-resolution shots. The inspection report you mention would be sufficient for BaT to create a listing (they write the copy, the seller just approves it). I’m currently working a listing that way and so far it’s been fantastic.

She may also want to consider BaT’s “White Glove” service. They do everything for you:

Submit your Vehicle (bringatrailer.com)

Bring a Trailer. A documented Bill Bassett restoration carries a great deal of weight and will answer 90% of the questions knowledgeable buyers would have. I would document Bill’s work with either the receipts or a letter from Bill acknowledging that it was his work.

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This is not much different, and arguably less risky, than buying 6 or 7 figure yachts located somewhere else. People do it all of the time, (including me).

“Info about the car, lots of it”

I totally agree! Maybe my mistake is assuming real buyers will come see the car and that stacks of paperwork/records.

FWIW, I see lots of cats sold on BAT without really basic easy and cheap to get info such as who did the restoration, how far did the restoration go, what is the basic mechanical condition (compression, hot OP, exhaust gas in coolant check, brake fluid hygrometer check, running AFM), how good is the underlying sheet metal work (yes I have electronic testers for both ferrous and nonferrous substrates and have checked what is underneath the shiny paint).

And unlike many, this restoration was done at a shop that is nationally known (for better or worse) as a long time XK restoration expert. That expert is alive and well, and available for any serious buyer to call up for more restoration details.

These are all things I generally see absent from 99% of auctions and BAT sales. And from personal experience, auction sales are usually accompanied by a huge amount of hyperbole. Some years a friend bought an XK140 from a BIG auction. Car was described as near excellent, what what showed up on the truck can only be described as a rolling turd with major mechanical issues which made it unsafe to drive across the parking lot. The auction company took it back and blamed the owner providing them with an inaccurate description. Apparently auction companies are not liable for the accuracy of their descriptions, and often don’t bother confirming condition etc.

So I feel there is more info already on this car compared to most on BAT and at the big auctions.

While I cannot help the lady as an ACTIVE seller, I hope the basic inspection report I put together for her (free) would be sufficient to get a serious buyer interested.

And I hope any serious buyer would do due diligence to spring for a $300 professional PPI, and take a trip to Lovely Boston to check the car and documentation in person. And, god forbid, maybe to go for a spinal see how the car drives.

Would any of you here buy a $100,000+ classic from a stranger sight unseen and without a detailed inspection by an expert whom you trust? If yes I have a bridge for sale…

Oh! Maybe that would work! Excellent suggestion. I’ll give the folks at BAT a call to see what’s involved.

John

And, clearly I am a total dinosaur when it comes to buying and selling cars. I was burnt once buying a car without a thorough check out, but I guess these days people are willing to take their chances.

That is not my intent. I mistakenly thought people still buy classic cars the old fashioned way. If BAT is the best way then I’ll advise her to give it a shot with that “White Glove” service. Sure would save me a lot of work putting together that inspection report…

I just looked they a bunch of sales on BAT. Prices seem generally ok, but the lack of basic condition info seems so strange to me. I see race cars sold without engi e build/dyno sheets and track lap times. Are BAT buyers simple super optimists??