Overseas Auction Results - Bonhams Goodwood Revival A 1993 Jaguar XJ220 supercar that had barely been used by its two keepers in 28 years sold for a record fee with a collector paying £460,000 for the stunning Monza Red motor. Despite its age, the Jaguar has hardly turned a wheel since it left the factory, showing a mere 613km on the clock from new - just 381 miles driven in total. According to Bonhams, the price paid for the ‘good as new’ car is a world record sum at auction for an XJ220. The XJ220 was bought during the auction house’s Goodwood Revival sale after bidding started at £300,000. Two collectors were vying for the keys to the Jag, with exchanging bids increasing by £20,000. With sales fees thrown in, it pushed the final price paid to £460,000 £46,000 more than anyone has ever put down for an XJ220 at auction.
Customer cars from 1992 had a retail price of £470,000, with only 275 made in total before production ceased in 1994.
But there is a catch.
Taking into account historic inflation, its then-new price now equates to £995,993.
Despite the world record auction price, the winning bid was some £10,000 less than what the car cost when it was ordered from new almost three decades ago.
This example was delivered to its first owner in Germany and immediately placed into 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 what the car cost new in 1993, it’s less than half its original value when taking into account 28 years of inflation and that’s before you factor in storage and maintenance costs during that period. It makes it very difficult to justify the decision to not drive the wonderful machine in the hope its values will soar in future years.
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Despite the winning bid being £46,000 higher than the previous auction record, it was £10,000 less than what the XJ220 cost new in the early nineties. Taking into account historic inflation, the £470,000 paid in 1993 now equates to £995,993. That’s more than double that of the winning amount paid at the auction. XJ220 are still one the best and most stunning looking supercars ever built. With XJ15’s selling for US $2.0m, XJ220’s are still cheap! PAGE 54
THE OFFICIAL MONTHLY MAGAZINE OF THE JAGUAR DRIVERS CLUB OF SA
