Here are a few news highlights from the classic car industry from the last couple of months…
Classics as investments: still a safe bet? (Car and Classic Magazine)
Today’s classic car market is attracting increasing numbers of investors and speculators. The last few years have certainly seen major increases in classic car values, with vehicles selling for the kind of money that would have seemed unthinkable even just a decade ago.
Ultra-low bank rates are encouraging enthusiasts and investors alike to spend their own money on cars, giving them an enjoyable asset that may continue to rise in value, rather than them simply relying on 1-2% from their bank.
According to a report last month on ClassicDriver.com, the upper end of the classic car market has been outperforming both gold and art on the international scene.
Investors and speculators are still outnumbered by genuine enthusiasts; and that means there’s unlikely to be a major drop in either demand or value once interest rates start creeping upwards, according to classic car insurance specialists, Hagerty.
For the first time in its history, Jaguar will be allowing buyers to drive some of the most unique models in its classic heritage collection. The Jaguar Heritage Driving Experience includes models such as the Le Mans D-Type racing car, various E-Types, and the XKSS from the 1950s.
The new Jaguar driving experiences offered are the result of the British firm purchasing over 500 heritage classics from a private collector. Jaguar have since fully prepared the cars, some of them over 70 years old, for regular driving by lucky punters.
The half and full-day experience packages, available from November, will cost from £95 up to £2,000 depending on what you drive and for how long. The events will be held at Jaguar’s new 200-acre testing facility in Warwickshire.
Details of the vehicles lost to the 2009 scrappage scheme have been revealed, and they make grim reading for classic car enthusiasts. Alongside the thousands of badly beaten hatchbacks and saloons were a significant number of classics, traded-in and certified for destruction.
The scrappage scheme was initially introduced because new car sales in 2008 were so poor, and it was hoped that these incentives would stimulate cars sales in a depressed market. It clearly worked, and the sales remained largely buoyant. But there was a price to pay.
Among the victims of the scheme were 88 Citroen 2CVs, 81 Morris Minors and 45 Jaguar XJSs. In total 392,227 cars more than a decade old were culled that year.
Could buying a V12 be seen as a silly idea in the current climate? We’re constantly reminded that oil is running out and petrol is in short supply, so could this, therefore, be the last chance to experience the decadent joy such an engine brings?
Classic Cars for Sale selected some of its favourite V12s for less than £20,000, and fifth on its list was the Jaguar XJS Cabriolet!
Describing the car the article stated: “The Jaguar XJS Cabriolet arguably exemplifies the effortless cruising delights such a large engine brings. As much as you may appreciate sudden bursts of snarling V6s and rumbling V8s, nothing quite compares to Jaguar’s super-smooth V12 driving experience. Owning a V12 classic can be expensive and requires a brave wallet, as befits what were high-end luxury motors in their heyday. However, driving any V12 is a truly special experience.”
A rusting 50-year old Jaguar, found in a garage in Conwy, has been sold for more than three times its estimate. The Jaguar Mark 1 saloon was in such a state that it struggled to make it to auction. The classic attracted great interest from vintage vehicle enthusiasts and was eventually sold for £1,600.
The car was sold with its original service manual and a letter to the owner from the manufacturer in Coventry, dated 6 February 1963, indicating he was leaving the Jaguar while going to the Far East. A collector in Norfolk who owns and races Jaguars is now intending to return the classic car to its former glory.