The allure of a limited-edition sports car, especially one celebrating a brand’s rich racing heritage, is undeniable. Manufacturers often capitalize on this, releasing special models that journalists adore and collectors clamor for. These vehicles are typically destined for instant appreciation, becoming prized assets in the collector car market. However, the Jaguar F-Type Project 7 presents a curious anomaly. Despite its pedigree and exclusivity, this celebrated model is currently available for less than its original sticker price.
Take, for example, a recent sale on Collecting Cars. A well-maintained Jaguar F-Type Project 7 fetched £105,000 (approximately $131,000) before auction fees. This price point raises eyebrows, especially when considering the car’s limited production run and the general upward trend of collector car values. To understand this unexpected depreciation, we need to delve into the story and context surrounding the Jaguar Project 7.
A Nod to Jaguar’s Glorious Racing Past
Jaguar’s legacy is deeply intertwined with motorsport, particularly its dominant performance at the 24 Hours of Le Mans. Before Porsche and Ford established their racing dynasties, Jaguar was a force to be reckoned with at Le Mans, securing five overall victories in the 1950s. This era cemented Jaguar’s reputation for performance and speed, a brand identity that resonated for decades. Further Le Mans wins in 1988 and 1990 with the iconic Silk Cut liveried XJR-9 LM and XJR-12 LM reinforced this image in a new generation.
By 2013, while Jaguar was re-establishing itself as a performance luxury brand, the introduction of the F-Type was a crucial step in reclaiming its sporting essence. To further emphasize this heritage and commemorate their seven Le Mans victories, Jaguar unveiled the F-Type Project 7 concept at the 2013 Goodwood Festival of Speed. The name “Project 7” itself was a direct homage to Jaguar’s seven Le Mans wins.
From Concept to Coveted Collectible
The Project 7 masterfully blended the contemporary appeal of the F-Type with design cues reminiscent of the legendary Jaguar D-Type. This retro-modern fusion captivated enthusiasts and potential buyers immediately. What began as a marketing showcase quickly transformed into a limited production run of just 250 cars due to overwhelming demand. The Jaguar F-Type Project 7 was destined to be an instant classic.
Initial reviews of the Project 7 were overwhelmingly positive. Critics praised its enhanced F-Type character and the potent 575-horsepower V-8 engine, a notable increase of 25 horsepower over the standard V-8 F-Type. Performance upgrades extended beyond just power; tweaks to the suspension, including springs, dampers, and sway bars, sharpened the car’s handling dynamics. Weight reduction was also a key factor, with the Project 7 shedding approximately 190 pounds compared to the standard V-8 convertible, partly due to a minimalist manual roof. Visually, a shorter windscreen, a distinctive fairing behind the driver’s seat, and racing-style number roundels on the doors further solidified the Project 7’s connection to Jaguar’s racing lineage.
A Collector Car Market Paradox
Given its limited production, performance enhancements, and strong ties to Jaguar’s celebrated past, the current market value of the Project 7 comes as a surprise to many. The aforementioned sale of a pristine 2015 Jaguar F-Type Project 7, with regular servicing and just over 3,000 miles, for under its original MSRP of $165,995 highlights this depreciation. This represents a significant discount for a car that was initially touted as a highly desirable collectible.
This isn’t an isolated incident. Data from auction sites like Bring a Trailer reveals a trend. In the past two years, a majority of Project 7s sold have gone for prices below their original sticker, a pattern mirrored in European auctions. This contrasts sharply with other limited-edition, heritage-inspired sports cars from the same era.
Contrasting Fortunes: Porsche 911 Speedster
A prime example of a contrasting market trajectory is the 2011 Porsche 911 Speedster. Another low-windshield, limited-edition model with historical inspiration, the 911 Speedster saw a production run of 356 units. While its original starting price was higher at $204,950, these Speedsters now command significantly more on the collector market. Excellent condition examples (Condition #2) are valued around $379,000 and routinely sell well above their initial MSRP.
This stark difference begs the question: Why is the Jaguar Project 7 experiencing depreciation while comparable cars are appreciating? Is the Project 7’s historical narrative, referencing Jaguar’s mid-20th-century glories, perhaps less resonant with today’s collectors compared to Porsche’s heritage? While this is a possibility, examining market trends for similar vehicles offers further insight.
Market Context and Future Potential
The collector car market is still in the process of defining the Jaguar Project 7’s place within the hierarchy of collectible Jaguars and limited-edition sports cars. This valuation ambiguity isn’t unique to Jaguar. The Ferrari 550 Barchetta Pininfarina, another open-top special edition, has also experienced fluctuating values as the market determines its position within the Ferrari lineage.
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, demonstrating that appreciation can sometimes be a slow burn. While the Jaguar Project 7 may not reach the stratospheric heights of the 507, its future could still be brighter than current market values suggest.
With Jaguar discontinuing the F-Type after 2024 and transitioning towards an electric and SUV-focused lineup, enthusiasts may increasingly view the F-Type and its special editions, particularly the Project 7, as the poignant swansong of Jaguar’s celebrated performance heritage. Until then, the Jaguar Project 7 represents a unique opportunity: a limited-run, high-performance modern sports car that remains surprisingly affordable in the current collector market.
