Limited edition cars from prestigious European brands, especially those with a strong racing pedigree, often become instant collector’s items. These vehicles, celebrated by automotive journalists for their unique character and exclusivity, typically command premium prices shortly after release and appreciate over time in the collector car market. However, the Jaguar F-Type Project 7 presents a curious case. Despite its limited production run and historical significance, this special edition F-Type is currently valued less than its original debut price.
This intriguing situation is highlighted by a recent sale on Collecting Cars, where a Project 7 example fetched £105,000 (approximately $131,000) before auction fees. To understand this anomaly, we need to delve into the history and context of the Project 7 Jaguar.
Jaguar’s legacy is deeply intertwined with racing success, particularly at the legendary 24 Hours of Le Mans. In the pre-Ford and Porsche era, Jaguar established its performance credentials with five overall Le Mans victories in the 1950s. This racing heritage was revitalized with wins in 1988 and 1990 by the iconic Silk Cut-liveried XJR-9 LM and XJR-12 LM, reinforcing Jaguar’s performance image into a new generation.
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By 2013, while Jaguar remained a luxury brand, its performance identity needed a jolt. The introduction of the F-Type sports car was a step in this direction. To further emphasize its heritage and commemorate its seven Le Mans wins, Jaguar unveiled the F-Type Project 7 concept at the 2013 Goodwood Festival of Speed. This was more than just a concept; it was a statement.
The Project 7 masterfully blended the contemporary appeal of the F-Type with design cues reminiscent of the classic Jaguar D-Type. The unveiling generated immediate excitement. Enthusiasts and potential buyers quickly expressed interest, transforming what began as a marketing exercise into a limited production run of just 250 cars. The Project 7 was destined for exclusivity from the outset.
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Upon its release, the Project 7 received rave reviews. Automotive journalists praised its enhanced F-Type character and the uprated 575-horsepower V-8 engine, a notable increase of 25 horsepower over the standard V-8. While lauded for its performance, some reviews noted its demanding nature at high speeds, adding to its raw, driver-focused appeal. Beyond the power boost, Jaguar engineers refined the Project 7’s handling with adjustments to the springs, dampers, and sway bars. Weight reduction was also a key factor; the Project 7 shed approximately 190 pounds compared to the standard V-8 convertible, partly due to a minimalist manual roof designed for brief weather protection rather than extended touring. Visually, a shorter windscreen, a distinctive fairing behind the driver’s seat, and racing number roundels on the doors further solidified the Project 7’s connection to Jaguar’s racing history.
Given its inherent personality, limited production, and the generally robust collector car market, the depreciation in value of the Project 7 might seem surprising. This particular 2015 example, sold for approximately $131,000 (before fees), is described as well-maintained, regularly serviced, and in excellent condition. While showing 3387 miles on the odometer, it’s still considered relatively low mileage for a car of this type. Considering the original starting price of $165,995, this sale represents a significant price decrease for a sought-after limited edition model.
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This isn’t an isolated incident. Data from Bring a Trailer indicates a trend: in the past two years, four out of six Project 7s sold have transacted for less than their original MSRP. Similar outcomes have been observed in European auctions, suggesting a broader market trend for this model.
This market behavior contrasts sharply with other heritage-inspired, limited-edition sports cars. Consider the 2011 Porsche 911 Speedster. Limited to 356 units, it originally retailed for $204,950. Today, a Porsche 911 Speedster in #2 (Excellent) condition is valued at around $379,000 and consistently sells above its initial sticker price. This begs the question: why is the Project 7 Jaguar experiencing this valuation trend?
One possibility is that the Project 7’s historical homage, referencing Jaguar’s mid-20th-century racing triumphs, might not resonate as strongly with contemporary collectors compared to other marques or models. However, broader market dynamics offer further insights into the Project 7’s current valuation.
The collector car market may still be in the process of defining the Project 7’s place within the hierarchy of collectible Jaguars and limited-edition vehicles in general. This phenomenon is not unique to Jaguar. For instance, the Ferrari 550 Barchetta Pininfarina, another open-top special edition, has experienced more value appreciation than the Project 7. Yet, its position within the Ferrari collector car spectrum also sees price fluctuations, indicating market uncertainty.
Time and perspective may also play a crucial role. The BMW 507, a rare and initially commercially unsuccessful car, eventually achieved blue-chip collector status. While the Project 7 may not reach such stratospheric heights, its future outlook could brighten. Jaguar’s decision to discontinue the F-Type after 2024, leaving a void in their sports car lineup, could significantly impact the Project 7’s desirability. As Jaguar transitions towards electrification and SUVs, enthusiasts may increasingly view the F-Type and its performance variants, particularly the Project 7, as the defining swan song of Jaguar’s performance legacy. Until then, the Project 7 Jaguar remains a comparatively affordable entry point into the realm of limited-run, modern sports cars, potentially representing a compelling value proposition for discerning collectors.
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