Barely driven 1993 Jaguar XJ220 sells for record £ 460,000 at auction

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A ’90s Jaguar XJ220 supercar that has barely been used by its two owners in 28 years sold for a record price this weekend.

A collector paid £ 460,000 on Saturday for the stunning Monza Red engine, which is one of 275 examples of the UK vehicle at 213 mph.

Despite its age, the Jag has barely turned a wheel since it left the factory, scoring just 613 km from the start – only 381 miles driven in total.

The price paid for the car “as new” is a world record amount at auction for an XJ220, Bonhams says. However, the winning bid is less than what the first owner paid in 1993 before it was put into controlled storage.

The barely driven British supercar sells for a record price: This 1993 Jaguar XJ220 – one of 275 examples ever produced – has only driven 381 miles since origin. It sold for a record auction of £ 460,000 on Saturday… but there’s a catch

Although the winning bid was £ 60,000 above the lower estimate and £ 46,000 more than the previous auction record, it was £ 10,000 less than what the XJ220s cost new at early 90s.

The XJ220 was purchased at the auction house’s Goodwood Revival on Saturday after the £ 300,000 auction began.

Two collectors were vying for the keys to the Jag, with trade-in offers increasing by £ 20,000 to the mark of £ 400,000 – around £ 60,000 above the lower estimate predicted for the model and around 40,000 £ below Bonham’s top estimate of half a million. .

With the added selling costs, this pushed the final price paid to £ 460,000 – more than anyone has ever tendered for an XJ220 at auction.

However, the winning bid is around £ 10,000 less than the car would have cost when it was ordered almost three decades ago.

Customer cars from 1992 had a retail price of £ 470,000, with just 275 made in total before production ceased in 1994.

Taking into account historic inflation, its new price is now equivalent to £ 995,993.

This copy 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 price of the new car in 1993, it’s less than half of its original value taking into account 28 years of inflation – and that is before taking into account the costs of storage and maintenance during this period.

It is therefore very difficult to justify the decision not to drive the wonderful machine in the hope that its values ​​will soar in the years to come.

Speaking shortly after the fall of the hammer, Tim Schofield, Head of Department at Bonhams Motor Cars UK, said: “This is an excellent result, and we are delighted to have set a new world record for auction with the sale of the XJ220. ”

Taking historical inflation into account, the £ 470,000 paid in 1993 is now equivalent to £ 995,993. That’s more than double the winning amount paid in Saturday’s auction

As this odometer photo shows, it has only driven 613 kilometers from new condition. It is 381 miles. It had its one and only overhaul in June 1994. At the time, it had 388 kilometers (241 miles) on the clock. This means it has only driven 225 kilometers (140 miles) in the past 27 years.

While the figure paid over the weekend is the highest in auction history, the fact that it is still lower than what it cost 28 years ago somewhat undermines the decision to store the car. rather than driving it

The classic car appraisal experts at Hagerty said the price paid was well above what a “contest” – which means good enough for a museum exhibit – version of an XJ220, was worth, calculating an average cost. of £ 415,000.

This is based on the previous record amount paid at auction, which took place in 2019 at the Bonhams Goodwood Festival of Speed ​​auction when the hammer fell to £ 414,000.

The left-hand drive XJ220 was never registered in the UK, although it was returned to these shores just over five years ago.

The original owner, a Mr. Woo Yung Tae – who had the engine delivered to his company Primrose International – employed a former Ferrari-trained mechanic to ensure his fleet of expensive engines remained in good condition and condition. operating conditions, while a German Jaguar dealer carried its only service on June 13, 1994.

At the time, it had 388 kilometers (241 miles) on the clock. This means it has only driven 225 kilometers (140 miles) in the past 27 years.

The XJ220 remains today the fastest production car Jaguar has ever sold to its customers, with a recorded top speed of 213 mph

The esteemed automotive auctioneer describes it as being in “virtually impeccable cosmetic order” with its Monza red paintwork and sand leather interior in “superb condition”

The current owner acquired the car from the original collection through an intermediary in October 2015 and has kept it in his own significant collection since.

It was appropriately taxed when entering the UK, but although an application to register the car was submitted, the process was never completed and the vehicle has never been registered since that it is new – surely one of the last XJ220 that could make such a claim.

The seller in 2019 had the Jaguar returned to service by Don Law Racing, which became the British firm specializing in the retro supercar.

All receipts – totaling £ 35,000 – from the works are included in the sale, as are the original tool kit, car cover, manuals in their leather wallets, wheel socket and left and right rear moldings for use during maintenance.

The previous record amount paid for a Jaguar XJ220 at auction was £ 414,000 at the 2019 Bonham Goodwood Festival of Speed ​​sale.

Production of the Jaguar XJ220 ran from 1992 and finally ceased in 1994 when 275 cars had been built

Bonhams said ahead of Saturday’s auction that the XJ220 remained in “virtually pristine cosmetic order.”

It is stated that all small paint defects have been “corrected” and that the sand leather interior is in “superb condition”.

“This is without a doubt one of the freshest, freshest and best prepared XJ220s available on the market, now available for recording for the first time in its life,” the auction house concluded. auction.

Mark Osborne, global motorsport director for Bonhams, told This is Money: “The Jaguar could rightly be described as a 28-year-old car at delivery mileage.

“This is a potentially unique opportunity for the next owner to take ownership of a car exactly as the manufacturer has presented it.”

Jaguar XJ220: will it fit in my temperature-controlled garage?

Years of manufacture: 1993-1994

Production efficiency: 275 examples

New price: £ 470,000

Motor: 3498cc, turbocharged V6

Power: 540 hp at 7,200 rpm

Couple: 475 lb-ft @ 4,500 rpm

Transmission: Six-speed manual

0-60mph acceleration: 3.6 seconds

Top speed: 217 mph

Declared fuel consumption (combined): 18.0 mpg

Dimensions

Length: 4,860 mm

Width: 2000 mm

Height: 1150 mm

Wheelbase: 2,640 mm

Weight: 1,560 kg

The XJ220 made its debut at the 1988 British Motor Show. Designed by Keith Helfet, the vehicle on display featured a host of complex engineering feats, including all-wheel drive, rear-wheel steering, adjustable suspension and active aerodynamics. as well as a booming 6.2 liter V12 engine, but by the time production came around that had reduced to a V6

However, the version approved for production in December 1989 – with Tom Walkinshaw Racing selected as the project partner – was somewhat different from the British Motor Show concept presented a year earlier. Even with half the number of cylinders it could overtake a Ferrari F40 and a Lamborghini Diablo

The XJ220 remains today the fastest production car Jaguar has ever sold to its customers, with a recorded top speed of 213 mph.

Built using an advanced aluminum honeycomb, the car was extremely strong and, despite its size, weighed only 1470kg – roughly the same as today’s Vauxhall Corsa supermini. ‘hui.

Originally designed as a concept car, the XJ220 made its debut at the 1988 British Motor Show. Designed by Keith Helfet, the vehicle on display featured a host of complex engineering feats, including all-wheel drive, wheels rear steering, adjustable suspension and active aerodynamics plus a booming 6.2-liter V12 engine.

Its design and specs were enough to make the most affluent gasolines salivate, with some depositing £ 50,000 in deposits for the svelte supercar.

The seller acquired the car from the original collector in Germany in 2015. It was appropriately taxed when entering the UK, but although an application was submitted to register the car, the process did not occur. ‘has never been finished and the vehicles have never been registered since new – surely one of the last XJ220s that can make such a claim

However, the version approved for production in December 1989 – with Tom Walkinshaw Racing selected as the project partner – was somewhat different from the British Motor Show concept presented a year earlier.

The rear-wheel drive XJ220 did away with a V12 and Jaguar installed a twin-turbo 3.5-liter V6 instead.

It developed 550 horsepower and 475 pound-feet of torque and the XJ220 was recorded accelerating from zero to 60 mph in under four seconds – faster than the Ferrari F40 and Lamborghini Diablo, which were the poster supercars of the generation. .

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