Don't understand the current classic market

[richkaz]

They say that e - types are the best barometer of the classic car scene




Just seen Coys August Nurenburg results and was fascinated by this.

1963 3.8 e- type flat floor roadster
Owner drove the car for 2 years from new and then he garaged it for the next 44 years
Total mileage from new 9,800

Coys said this project is an 'easy straightforward restoration' ( very easy unless your the poor bugger restoring it )








'


Car sold for 58,925 euros

Now I figure it would need another 25,000 euro's to do the 'easy restoration'
After fitting replacement parts and salvaging whatever was left then rechroming and updating I'm not sure just how original the finished car would be. As the mileage increases isn't it going to lose some of its appeal ?

A few weeks back Barons offered this

1970 series 2 e-type coupe
Converted to RHD
4 year nut and bolt restoration by a marque expert to apparently 'better than new standard'
Less than 5000 mls. since restoration.
Sold for £ 25,000
Not sure what the e- type barometer tells us about the current market

[decapman]

It tells us that an original flat floor 3.8 E Type is a much more sought after car than a RHD converted series 2.

[pmjt]

It tells us that an original flat floor 3.8 E Type is a much more sought after car than a RHD converted series 2.

Damn - took the words out of my mouth

[richkaz]

It tells us that an original flat floor 3.8 E Type is a much more sought after car than a RHD converted series 2.



Yes and always has been but unlike the white £ 79,000 911E currently for sale with a similar low mileage which still looks new and presumably requires little or no resto , how 'original' would the Jag be when its restored.
Good matching numbers restored series one cars can be had for about £40,000.
If the market is paying a premium for barely used classic cars , what will the novelty be once the mileage increases or are they destined for museums ?

[Hendrik Moulds]

The low mileage and original E-Type is probably riding the wave of enthusiasm for the "survivors" which has swept through America in the past few years.

[pmjt]

Good matching numbers restored series one cars can be had for about £40,000.

Only a coupe (cab's have always had a huge premium) and probably a 'home' restoration or one that's not 'by a name'.

911 prices? Someone can always ask £80k for an E - will they get it?

I agree with your point that "prices" are all over the place - what's being "paid" is another matter all together

[left4dead]

In a similar vein, I looked at a car recently through a dealer that was advertised POA. A lovely old thing which I would have loved apart from the asking price was £185,000 (non-Porsche, btw). Too rich for me so jokingly offered £125k. I heard yesterday the same car is now 'under offer' at £235,000

It would appear that some cars (dealers ) are priced according to the size of the wallet of the prospective purchaser. At least that's what it seems or maybe there's some market force in play that I'm not part of or aware of...



And on the subject of E types it the 50th anniversary in 2011; does anyone see this has having any significant impact on future prices

[veryporky]

Really not sure if E types are a good barometer of the classic car scene. Nice flatfloors seem to have been in the 40-60k range for a decade and a half now. Rock solid with no movement up or down Some other classics have quadrupled over the same period, some have performed like the E and stayed where they are. Some have gone up, come down, and gone back up (246 Dino?)... IMO classic prices are fragmented and all over the place as opposed to the late '80s early '90s when everything seemed to be going up.

[richkaz]

Could well be true. My tip for the top would be a 1975 - 1980 early pre HE manual XJS.
Think it must be those delicious Kent magnesium alloys