A stunning 1961 E-Type Jaguar, discovered in a garage in Bath, UK, auctioned at Hendon's RAF Museum as part of Bonhams' Collectors' Motorcars and Automobilia auction on April 29.
 Although repairs could prove costly, the Jaguar E-Type could be worth as much as £120,000 ($185,942) if restored |
Having lain in wait for more than 30 years, the vintage Jaguar brought £109,020 ($169,033) - a 263.4% increase on its £30,000 ($46,500) estimate.
Although filthy inside and out and covered in rust, it is believed that the rare "flatfloor" car could be worth in excess of £120,000 ($185,942) if fully and sensitively restored.
Prior to 1962 - the year footwells were introduced - taller drivers often complained that the E-Type's interior was too small. However, pre-1962 "flatfloor" models remain the most coveted among serious collectors.
Since collectors value original parts and finishes above all else, it is very likely that the fact that this classic car remains completely unrestored contributed to its substantial sale price.
The present model is among the earliest surviving right-hand drive Jaguar E-Type roadsters.
Previous to yesterday's sale, it belonged to a naval architect based in Bath, UK, who bought the vehicle in 1965.
Spiralling running costs forced him to retire the car. In 1983 he consigned it to the garage, where it has remained ever since.
Classic cars can be extremely pleasurable investments. According to Knight Frank's most recent Wealth Report, these symbols of luxury have increased in value by 23% over the past year alone. For more information on the market, visit Paul Fraser Collectibles' free guide to investing in classic cars.
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