Right now I’m flicking through a classic car price guide and am almost in tears. If I’d taken the plunge and invested the £45,000 I intended to pay for a Ferrari Berlinetta Boxer 512 BBi some years ago, today I’d be selling that same car for an additional £255,000! That’s a hell of a lot more than any high interest investment account would have achieved. Investing in classic cars can be highly profitable business and, for the owner, enjoyable too. Buy right and you win on both counts. South London businessman Gary Gordon (48) bought this stunning 1972 Jaguar E Type V12 a decade ago. Gary told us,
“I’ve always liked old cars and planned to buy a Triumph TR3A, but I saw the E Type for sale at Bonhams and my friend told me it suited me, so I bought it! It was previously owned by the actor Nick Berry of television’s EastEnders and Heartbeat fame. I’m its second owner in 30 years.
“In the 10 years I’ve owned the Jag it has been a lot of fun. I’ve only covered about 1,000 miles a year in it since I bought it and it’s done about 85K in total now. The Jag’s been very reliable, but like all older cars things do go wrong, and on this one it has tended to be things like rubbers and other minor niggly stuff. During its time with me I’ve had a new power steering unit fitted, a new radiator, and overhauled the brakes; most recently I’ve treated the car to a back to metal respray so I’m happy. The insurance costs me about £400 per year which isn’t bad. Some garages do tend to overprice the work on the car though, often based on their perception of the value, so you need to be careful on that score. The car gets a lot of attention and it’s comforting to know that it is appreciating in value.”
On the road What’s ultimately surprising is the driving refinement of this legend of a sports car that is some 44 years old. In its day it would have been state-of-the-art, yet even today the ride quality and manoeuvrability of the Jag impresses. It is a surprisingly low effort car to drive, saved by the power steering that its early predecessors lacked. This late reiteration of the E Type also benefits from excellent all round vision due to deeper and longer glass. It’s not fast by today’s standards but is certainly no pushover, and it goes and sounds ‘the business’ when pushed. Unsurprisingly, the car handles too but we were not inclined to test the limits! The heavy V12 and limited rubber suggests on-limit caution but hey, do you really care? Petrol’s cheap these days and you’re unlikely to build up big mileages, so best enjoy your V12 to the full. In the meantime, sit and watch your money grow.
Tech Spec In Brief
Years produced 1971-1975
Engine 5.3 litre V12 petrol
Transmission 4-speed manual or 3-speed auto
Power 276 bhp
Top speed 146 mph
O-60 mph 6.4 seconds
Price when new £2,245
Current prices based on condition Excellent £85,000; Good £60,000; Average £20,000; Project £15,000 (Source: Classic Car Price Guide – values are approximate)
