Falling prices on Jag

recent discussion of prices falling as collectors age out:

I see this:

is at 80 K with three days to go and it’s a 1958. So maybe E types will still be strong 20 yrs from now

Keep in mind this is an S Series car, with very limited production. It’s the first production Jaguar to be fitted with triple SU’s. It’s also in original condition according to the write up. I owned the same car years back and if I could by this car for $80k I would do so without hesitation. It may be worth twice that. And there will always be a market for it.

It sold in 2017 at Gooding auction for $159,500, its estimated valuation for that auction was $200,000 - $250,000.

Back-to-backs are the best types of comparisons.

I’ve shared this before, but about 3-4 years ago, an all-original (time capsule) Lotus Cortina with GREAT history sold in Scottsdale for about $105k. Last year later, the same car came back to the same venue with a sales estimate of $150-160k…but it sold for only $60k (sad trombone).

I’m talking about a car that they only built about 3,000 of…and of which only about 200 came to the US.

No sale at $130,000.

If the car is as advertised, that’s an exceptional and rare car stalled at about $100k less than it was estimated to sell for just 2 years ago.

Might be a portent: time will tell.

That seems to be rather overstating it. Auction estimates are often overstated. With buyer’s premium the $130K bid would have cost them $135K if accepted. So, the high bid was a little less than $25K shy of what the seller paid 2 years ago. Still down, but nothing like $100K.

My bottom line on this whole thing: had it been possible for me to keep the Jaguar, I would not have cared if it was worth $6 or $60,000.

Same for Margaret: I own it, the same way I owned the Jaguar: I LIKE it, utterly irrespective if it ever made/makes me money.

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From what I saw over the last 7-9 year run-up in prices, reputable auction houses like Gooding & Co weren’t throwing out ambitious estimates; quite the opposite. It looks better for them when cars beat their estimates…as long as they don’t come off looking clueless.

I don’t believe Lotus Cortina I mentioned above had anything like a $100k estimate when it sold 3-4 ago for $106k. But, a couple of years later (in a cooling market) they got caught looking like carnival-barkers by estimating it at $100k more than it sold for.

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I agree that estimates can be wrong in both directions. My point was that a car is worth what someone will pay for it. 2 years ago someone paid a little less than $160K for it, so that is what it was worth. Today, someone was prepared to pay $135K for it.

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Shorter David: all it takes is a willing seller, and a willing buyer.

Worth established… for that car, in that moment in time.

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Nice car. Honest. There are cosmetic issues that will turn off a top dollar buyer. I agree with @bobgthomas though. Sometime in the future someone’s really going to want this car enough to pay more for it.