Pound Drops after UK Election: Makes better investment for International Classic Car Buyers

Following the UK general election the result of who will be running the country was quite literally hanging in the balance. We look at how this could benefit international classic car buyers looking to get their hands on a beautifully restored Jaguar XJS.

The one thing we can see for sure is the effect that the election has had on the exchange market.  Before the election the pound was slowly rising following Brexit and the flash crash in October 2016, which saw a higher demand for British classic cars from international buyers.

Now the pound has dropped further again making British classic cars over 10% more affordable to U.S. and European buyers than this time last year.

Why Jaguar XJS?

The XJS may not initially have been the most popular Jaguar, due to some questionable build quality and the hard-lined style that took some time to be publicly accepted. We can now safely say it has left its mark as one of the greatest luxury grand tourers of its time, with Jaguar selling a remarkable 115,413 examples over a period of 21 years, making it a hugely successful model for the famous British brand and comfortably outselling its more famous predecessor, the E-type, by around 40,000 units.

With that in mind, good condition examples of these cars are ever becoming harder to find, after a check with the DVLA there are less than 900 XJS models left registered on the road in the UK, and around 2200 declared off the road in 2016. Most of these examples are in an unknown condition. However, KWE have proudly carried out extensive restoration work on over 300 various XJS models, covering over 30% of the cars that are still on the road in the UK today. We cannot account for the number of XJS models left around the world, but we would expect there to be a lot of good LHD examples in the U.S, especially in its dry states, and in Japan for RHD, this is being due to their more rigorous testing standards and the fact they do not use road salt, thus keeping rust at bay and bodywork in far better condition.

The chart above shows all models of Jaguar XJS registered with the DVLA (Department of Transport) from 1994 to 2016.

Next, we looked at the rising value of the XJS, especially in the convertible and cabriolet models. The Jaguar XJS is not yet valued in the hundreds of thousands of pounds like the E-type. But it is steadily rising year on year at an increasing rate. According to web-based Classic Car Auction Results, this is the time to get your hands on the next big thing:

“The XJS does seem to have begun a growth curve in recent years that suggest similar levels of growth to what we have seen in E-Types are to come, Charlie suggests: There are now far more cars selling for more than £10k, and the cars fetching over £20k are no longer just ultra-collectible cars or super low-milers. High spec, exceptional condition cars are now achieving these figures too.”

“With an approximate value increase of 50% in 10 years, Jaguar XJS values don’t need to get much higher before the annual value increase is in the thousands [of pounds].” He adds.

Jaguar XJS Auction Results

The graph above shows auction sales figures of various Jaguar XJS models.

Why KWE?

Why choose the UK’s leading Jaguar XJS Specialist? Well, we are probably the most experienced restorers of the XJS to better than new condition, and work hard to make the car exactly as the client desires rather than working to minimise time and cost.

KWE carefully select upgraded parts that are second to none, and their experienced specialist technicians have inside and out knowledge of these glorious cars. They have an excellent track record in keeping their customers happy, one of the ways they achieve this is by regular updates and photos on their exciting restoration journeys. KWE likes to keep you in the loop, whether you are around the corner or across the sea.

In addition to the above, they strive to make the process as hassle free as possible. With their international clientele spanning across the globe, they have gained experience in importing and exporting classic cars to wherever their customers are in the world, including Europe, Australia, Japan and the U.S.

As part of the comprehensive Sea Freight service they can offer, their trusted agent will;

• Collect your vehicle (if required)
• Make the appropriate shipping line booking
• Receive and prepare your car for shipment, to include steam cleaning when required
• Complete pre-condition reports
• Load and secure your vehicle into container
• Complete all Customs formalities
• Pre-alert the nominated arrival agent to process the arrival formalities for release
• Arrange for the offloading of your vehicle at destination
• Arrange the onward delivery of your vehicle to KWE

Should you own or purchase a car anywhere in the world, they are able to arrange all of the above formalities in reverse, setting up and monitoring the entire process from start to finish.

So, if you’re based outside the UK, now is a very good time to buy a UK classic car!

Contact KWE today to discuss your requirements – whether that’s sourcing a classic car, shipping, or restoration.