It may seem rather late in the day to publish a valuation verdict on the Jaguar E-Type, one of the mainstays of the British classic car world, but I think there’s an interesting story to tell. Like many classic British cars of the 1950s and ‘60s, E-Type values have been slipping over recent years, but it’s how the different submodels are considered, and therefore priced, that interests me: their values seem to be converging. Ten years ago, UK Hagerty Price Guide ‘excellent’ values of the earliest Series 1 cars and the last of the V12s were separated by over £50,000. Today, it’s less than a fifth of that.
We’ve always known what a hugely important model the E-Type was for the British car industry, and how it seemed to make an indelible impression on many youngsters at the time. That translated into collectability once that generation, mostly Baby Boomers, grew older and prices soared as a result. They prized the very early and rare examples most highly: prices of the tiny number of earliest fixed-head cars built with welded louvres and an outside bonnet lock peaked in 2015 with a top (concours) price of £680,000. Standard models in what we’d consider ‘excellent’ condition were much less but still demanded big prices, and there was a distinct pecking order: Series 1 3.8 roadsters were at the top, with later cars reducing in value down to the Series 3 V12.
With many of the Baby Boomer generation leaving the market through age, it is no surprise that these values have slipped over the past decade, but why they are converging is interesting as it suggests today’s buyers value different aspects of each model. The Series 1 was built at a time when the British motor industry was still a leading force in the world, and the sensation it made on launch was borne from a combination of not just its power, but its looks. Later series were maybe considered a little less pure in design thanks to new crash and emissions regulations, and built at a time when Jaguar was struggling with industrial and directional turmoil following its absorption into British Leyland in 1968.
But today, without this cultural background, the different series are maybe being taken more on their merits. Although the power outputs of the Series 1 3.8 is not a whole lot less than the Series 3 V12, the latter is arguably easier to drive over longer distances, with more torque, more space inside, driver aids such as power steering, and fewer cooling issues that typically challenged the earlier cars. Plus, today’s buyers may just want ‘an E-Type’ and the Series 3 remains the entry level, price-wise.
This may offer an opportunity for the enthusiast. Malcolm Sayer’s original creation was a masterpiece, and the feedback you get from driving a sorted Series 1 is phenomenal; maybe it’s time for another generation or two to see what all the fuss is about. The outlook is good: although prices have slipped, these are still desirable cars and although the demand has reduced, it is still significant.
Which E-Type generation would you choose? Tell us in the comments below.
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