- The 1993 Jaguar XJ220 is one of only 275 built and has covered only 613 kilometers – just 381 miles – from new
- It was sold at the Bonhams Goodwood Revival auction on Saturday, raising the previous record to £46,000. defeated by
- The winning bid was £60,000 higher than the low estimate, but £10,000 less than the cost of the new XJ220 in 1993
- Its original £470k price is now worth almost £1m with historical inflation – double the number of sales on Saturday
- First delivered to Germany and kept in dehumidified storage, it has barely turned a wheel in 28 years
A nineties Jaguar XJ220 supercar that has barely been used by its two keepers in 28 years has been sold for a record fee over the weekend.
A collector paid £460,000 on Saturday for the stunning Monza Red motor, one of just 275 examples of the 213mph British vehicle.
Despite its age, the Jag has hardly turned a wheel since it was taken out of the factory, showing only 613km from new on the clock – just 381 miles in total.
Bonhams says the price paid for a ‘good as new’ car is a world record amount at auction for an XJ220. However, the winning bid is less than the bid paid by the first owner before it was placed in controlled storage in 1993.
Barely powered British supercar sells for a record fee: This 1993 Jaguar XJ220 – one of only 275 examples ever built – has covered only 381 miles from new. It sold for a record £460,000 auction on Saturday… but there’s a catch
Despite the winning bid being £60,000 higher than the lower estimate and £46,000 higher than the previous auction record, it was £10,000 less than the XJ220’s new cost in the early nineties.
The XJ220 was bought after starting at £300,000 during the auction house’s Goodwood Revival sale on Saturday.
The two collectors were vying for the keys to the Jug, until it reached the £400,000 mark, with the exchange of bids rising to £20,000 – some £60,000 from the low estimate estimated for the model and Bonham’s. Some were £40,000 shy of the top estimate of half a million .
With sales fees thrown in, this pushed the final price paid to £460,000 – less than anyone has ever seen for the XJ220 at auction.
However, the winning bid is some £10,000 less than the cost of the car when it was ordered new from almost three decades ago.
Customer cars from 1992 had a retail price of £470,000, a total of only 275 made before production ceased in 1994.
Taking into account historical inflation, its then new price is now equal to £995,993.
This example was delivered to its first owner in Germany and immediately placed in dehumidified storage as part of an automobile collection, where it remained for the next 22 years.
The winning bid of £460,000 is not only less than the car’s new cost in 1993, it is less than half its original value after taking into account 28 years of inflation – and your storage and maintenance costs during that period. factor before.
This makes it very difficult to justify the decision not to run the wonderful machine in the hope that its value will increase in future years.
Speaking shortly after the hammer fell, Tim Schofield, Head of Department for Bonhams Motor Cars UK, said: ‘It was an outstanding result, and we are thrilled to set another auction world record with the sale of the XJ220.’
Taking into account historical inflation, £470,000 paid in 1993 is now equal to £995,993. This is more than twice the winning amount paid during Saturday’s auction.
As this picture of the odometer shows, it has covered only 613 kms from the new one. That’s 381 miles. It had its only service in June 1994. It had 388 kilometers (241 mi) on the odometer at that time. This means it has covered just 225 kilometers (140 mi) in the last 27 years.
While the figure paid over the weekend is the highest in auction history, the fact that it is still less than it cost 28 years ago somewhat quashes the decision to store the car rather than drive it.
Haggerty’s classic car valuation experts said the price paid was much higher than a ‘concours’ – meaning one that’s enough for a museum display – a version of an XJ220 is worth calculating at an average cost of £415,000 .
This is based on the previous record fee paid at auction, which was at the Bonhams Goodwood Festival of Speed sale in 2019 when the hammer fell to £414,000.
The left-hand drive XJ220 has never actually been registered in the UK, whereas these shores were made back only five years ago.
The original owner, a Mr. Wu Yung Tae – who had given the motor to his company Primrose International – hired a former Ferrari-trained mechanic to ensure that his fleet of expensive motors remained in optimum condition and working order. , while a German Jaguar dealer out of its sole service on 13 June 1994.
At that time, it had 388 kilometers (241 mi) on the odometer. This means it has covered just 225 kilometers (140 mi) in the past 27 years.
The XJ220 remains the fastest production car sold to customers today, with a top speed of 213mph.
The respected automotive auctioneer describes it as a ‘virtually pristine cosmetic order’ in ‘great condition’ with its Monza Red paint and sanded leather interior.
The current owner acquired the car from the original collection through an intermediary in October 2015, and has maintained it in its significant collection ever since.
Its entry into the UK was appropriately taxed, but when an application was submitted to register the car, the process was never completed and the vehicle has never been registered since new – of course. One of the last XJ220s from that can make such a claim.
In 2019 the seller had a Jaguar recommended by Don Law Racing, which has become the specialist British firm dealing with retro supercars.
All receipts – £35,000 in total – are included from work…