Generation Shift Creating Jaguar Mark II Bargains

UK “Classic Car Magazine” has noted the high number of Mk 2 no sales at auctions over recent months in what they believe is a generation shift. They conclude that the Mk 2 may be a “Boomer’s” classic, but there is now a younger demographic skewing price and demand structures. They commented in particular that Mk 2 models with automatic transmissions, 2.4 and 3.4 litre engines were not achieving reserve. But even original 3.8 litre manual overdrive Mk2s are not currently the flavour of the month.

Other commentators note the classic car market is experiencing a shift in ownership as younger generations become interested in classic cars and older enthusiasts become a shrinking part of the population. According to Hagerty (UK), individuals that make up Generation X and Millennials have surpassed Pre-Boomers and Baby Boomers as the largest share of those interested in classic car ownership. These younger buyers also have a specific interest in “modern classics”.

So what’s trending? At the moment, the BMW E30, the rotary-powered RX7s, some of the sportier Toyotas like the MR2 and Supra and the Nissan Skyline. Similarly, hot hatches from the ’80s, notably the XR2 and the Ford Escort XR3i.

According to Car & Classic’s head of editorial, Chris Pollitt, he sees the classic car trend constantly evolving, with followers placing cars from the ’80s and ’90s as the new generation of soughtafter classics.

Australian commentators note that younger owners also prefer classic cars with some degree of comfort like airconditioning, cruise control, electric windows and the like. The increasing eligibility for historic registration is also considered a factor. In South Australia that now includes classic cars up to 1998. However, for those looking for older cars, there may be good buying opportunities and bargains for the next custodians of classic cars like Mk 2s. .

Editor: Information for this story sourced from UK Classic Car Magazine, WhichCar? Hagerty Insurance UK and Car Scoops.