Investing in world’s worst E-type

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Never before did we see a Jaguar E-type that had matured so badly as the one on offer with Bonhams Auctions last weekend. Floors, bonnet, sills, engine, suspension, interior – it was all so rotten that you began to wonder if there’d be anyone out there longing to give it a go at all. No doubt the 15-20,000 GBP made us chuckle – it even didn’t have any paperwork, so who’d be daft enough to pay that for what seemed like world’s worst restoration project to us? We were wrong. And not just a bit. The E-type passed the 20,000-line within few hits of the hammer. And it went on to 30-; 40-; 50,000 – easily doubling its estimate. The end was still not there. Including the auctioneer’s premium this rusty hulk sold for £77,660. That’s just under 100,000 Euros. For, yes for what, actually?

Well, it was for an E-type Roadster of the first series with the ‘flat floor’. This car, supposedly on the road until 1992 (!), and with matching numbers was sold ‘strictly as viewed’. We wonder how long it will take before it will end up at auction again. Restored. Or perhaps rather recreated. Anyone out here who knows what the price for a new flat floor body would be? A bonnet alone is some 5,000 GBP. But there will be many other parts that will need replacing. And how about the number of man hours that will go into the colossal job of ‘recommisioning’ it? But hang on. A fully restored 1961 no-reserve roadster fetched 528,000 dollars earlier this year. It's official: the world has gone mad.

(Pictures Joris Bergsma)      

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