300k in depreciation!!
20 June 2003, 12:53 AM
#1
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It's just been on the radio that a guy has just sold his Jaguar XJ220 at auction for 100k, having bought it new in 1993 for 400k. A grand loss of 300k, even with my bad maths that works out at 30 grand a year 
Could have been worse, it could have been me
Ed
Could have been worse, it could have been me
Ed
20 June 2003, 09:44 AM
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The XJ220 holds the record for the highest depreciation ever on a car. Orders were taken from a lot of bankers and stockbrokers - when the market crashed they all tried to cancel but Jaguar wouldn't let them. Lots of people were left with a car that neither they, nor anyone else, could afford.
20 June 2003, 09:55 AM
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Which is where all the legal action started about it not actually being able to do 220mph. The people who had orders but could no longer afford the car were looking for a way out, and tried to prove that the car wasn't fit for purpose or as advertised or something.
20 June 2003, 10:04 AM
#6
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You think THATS bad ............... imagine being the owner of a Bug-Eyed-Fugly Impreza???!!!
About as popular on the secondhand market as a Beige Marina with Dark Brown Vinyl Trim!!!
Glad I have a Classic MY00, THEY are increasing in value to fill the years the Fugly was made!! There just aren't any Imprezas of MY01 - MY03 that anyone wants, so the MY00 is filling that gap and rapidly increasing in value!! Whoooopie!! (of course, if it hasnt been modded, raced or has gold wheels !!)
Pete
About as popular on the secondhand market as a Beige Marina with Dark Brown Vinyl Trim!!!
Glad I have a Classic MY00, THEY are increasing in value to fill the years the Fugly was made!!
There just aren't any Imprezas of MY01 - MY03 that anyone wants, so the MY00 is filling that gap and rapidly increasing in value!! Whoooopie!! (of course, if it hasnt been modded, raced or has gold wheels !!)Pete
20 June 2003, 10:13 AM
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I heard a great story about someone who ordered an XJ220 locally. Phoned the bank and told them to transfer the funds needed for the deposit. Bank forgot to do the transfer on time. Customer was livid and was going to sue the bank for the loss he thought he would make from not getting the car. Before it got to court the value of the cars had already plummeted and he was thanking the bank instead. Bit like the old Monopoly Community Chest card "Bank error in your favour collect £300,000". 
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20 June 2003, 11:07 AM
#9
just goes to show, all good things eventually come to an end. At the time these were being sold, people thought the stock market would just rocket for ever, and the collectable car market would do the same "A safe bet" they all cried, oh dear..............................then it happend again with the dot com boom.................................will the housing market be next?????????????? hope so
hope so
20 June 2003, 11:15 AM
#10
This is a nice one:
http://www.nuevosalondelugano.com.ar...220/xj2205.jpg
This also looks nice in blue and for sale here (110k) : http://www.aston.co.uk/forsale/cars/101372.htm
[Edited by ChristianR - 20/06/2003 11:17:17]
20 June 2003, 11:34 AM
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Pete, as usual you've got it all wrong.
MY01/02 owners will tell you that their cars are "limited editions" and, as such are very rare and the ones to have. Naturally this will mean they'll be the most collectable and therefore the most valuable.
I actually had someone tell me with a straight face that the STI7 was more exclusive than the P1 because less were made.
The 03 looks are really quite nice, but I still miss the looks of my old DBM 00 sometimes. Not massively, but sometimes...
[Edited by chiark - 20/06/2003 11:36:01]
MY01/02 owners will tell you that their cars are "limited editions" and, as such are very rare and the ones to have. Naturally this will mean they'll be the most collectable and therefore the most valuable.
I actually had someone tell me with a straight face that the STI7 was more exclusive than the P1 because less were made.
The 03 looks are really quite nice, but I still miss the looks of my old DBM 00 sometimes. Not massively, but sometimes...
[Edited by chiark - 20/06/2003 11:36:01]
20 June 2003, 11:42 AM
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Christian R - have a butchers at the other cars for sale on there. Some really exotic models featured. The 456GT estate is the best looking "estate" I've ever seen... not surprising, as it's a Ferrari!
Goes to show though, how many rich buggers are out there!
Goes to show though, how many rich buggers are out there!
20 June 2003, 12:52 PM
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the XJ220 was a doomed car from the start it came out as the global economic buble burst and world went into recession, at the time financial companys where investing in classic and exotic cars, some rare Ferrari where trading for 10mill+ (there back down to 1 mill now)
the car was originally going to be supplied with a V12 engine but as the economic climate changed a modified metro 6R4 engine was used, complete with legendary turbo lag.
this and the fact it had the worst brakes every fitted to an exotic car (one mag test cooked them on a single 180-0 brake test) meant many buyers walked away and jag had a surplus of cars for many years.
a shame really as they look superb when you see one on the road
the car was originally going to be supplied with a V12 engine but as the economic climate changed a modified metro 6R4 engine was used, complete with legendary turbo lag.
this and the fact it had the worst brakes every fitted to an exotic car (one mag test cooked them on a single 180-0 brake test) meant many buyers walked away and jag had a surplus of cars for many years.
a shame really as they look superb when you see one on the road
20 June 2003, 01:39 PM
#17
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My word look at this, what a piece of engineering
http://www.qv500.com/lamborghinikremerdiablo6vt.htm
That is how an engine bay should look
http://www.qv500.com/lamborghinikremerdiablo6vt.htm
That is how an engine bay should look
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