If you need more evidence that one man’s trash can be another’s treasure, one Jaguar just proved the rule again.
A totaled Jaguar XK150 S, which originally rolled off the line in 1960, just achieved an eye-popping $127,552 at auction. As the third and final iteration of the XK series, the model came in fixed-head or drophead coupe. The latter was limited to just 3,000 examples and the one pictured here is a high-performance “S” version that is even rarer still. So rare, in fact, that it attracts a pretty penny even when the front end is completely crumpled.
This particular Jag spun off the road on a rainy day in September of 1996. While the owner was fortunately left unscathed, the same couldn’t be said of the four-wheeler. Still, it hammered for six times its initial, presale estimate in a Bonhams auction on May 22.
The Jaguar XK150 S, which was produced between 1957 and 1961, is characterized by its rounded, mod styling that’s, sadly, almost indiscernible on this rusted-out ride. However, following the crash, the Jag was stowed away in a garage and now has the potential to be revived.
“Considering the date of the crash and being kept in dry storage, the car is still in a salvageable condition, and offers enormous potential as a rewarding project car,” the auction house said on the listing.
Indeed, when presented in mint condition, the best Jaguar XK150 S can attract up to $280,000, according to the Hagerty Price Guide. Though prices do vary, it makes restoring a barn find not only a satisfying project but a financially rewarding one, too.
That has not gone unnoticed by collectors, either. Sales of classic and collectable cars across the world have skyrocketed over the past few weeks, with Bonhams and RM Sotheby’s selling more than $60 million worth of old cars in a single weekend in Florida, as reported by Bloomberg Pursuits. In the wake of the Covid-19 pandemic, auto enthusiasts have been gifted more time to work on fixing up derelict vehicles and the restoration shops have been flooded with new business.
It’s difficult to tell whether investing in this particular Jag will see the owner make some serious dough or just break even. What is guaranteed, however, is the fun they’ll have restoring it.
Check out more photos of the car below: