X350... prices being buoyed by the X351?
#1
10-30-2012, 09:27 PM
X350... prices being buoyed by the X351?
I had a 2006 XJ8 Vanden Plas which I bought approximately 2 years ago. It had <40k miles and it cost me about $26,000, which was about an average deal at the time.
So fast forward 2 years later, you'd think I could get the same car for about the same price, right? No! In fact, prices are seemingly $5-10k more expensive for the same X350, relative to the model year, etc.
Why is this?
My theory is that the X351 is quite a bit more desirable by the "mainstream" as it is one of the new breed of Jaguars that is quite a departure from the more stodgy classic Jaguar designs. As used X351s begin to enter the market, they command fairly high prices, and as 2008-2009 X358s are the same model line, the prices are sort of inflated due to association. Otherwise, I can't figure it out! X358s still depreciate, but the depreciation seems much flatter than you'd expect.
The only other thing I can think of is that X350s are the last of the classic-looking Jaguar designs, and that makes them more desirable.
Or maybe this is something that just applies to all cars?
Look at the attached graphics. It shows average XJ asking prices over 2 years for 2008 and 2009 X358s, and average prices of XJs of all years. The average price of XJs increasing so drastically is especially surprising!
Data obtained from cargurus.com.
So fast forward 2 years later, you'd think I could get the same car for about the same price, right? No! In fact, prices are seemingly $5-10k more expensive for the same X350, relative to the model year, etc.
Why is this?
My theory is that the X351 is quite a bit more desirable by the "mainstream" as it is one of the new breed of Jaguars that is quite a departure from the more stodgy classic Jaguar designs. As used X351s begin to enter the market, they command fairly high prices, and as 2008-2009 X358s are the same model line, the prices are sort of inflated due to association. Otherwise, I can't figure it out! X358s still depreciate, but the depreciation seems much flatter than you'd expect.
The only other thing I can think of is that X350s are the last of the classic-looking Jaguar designs, and that makes them more desirable.
Or maybe this is something that just applies to all cars?
Look at the attached graphics. It shows average XJ asking prices over 2 years for 2008 and 2009 X358s, and average prices of XJs of all years. The average price of XJs increasing so drastically is especially surprising!
Data obtained from cargurus.com.
#2
10-30-2012, 09:29 PM
It just occurred to me that there was a 1 year hiatus of the XJ, so theoretically now that the X351 are hitting the used car markets, it would increase the overall XJ average asking prices. Whew!
But that still doesn't explain why I can't buy the same car 2 years later for the same price.
But that still doesn't explain why I can't buy the same car 2 years later for the same price.
#3
10-31-2012, 12:53 AM
Economy is slightly better now than two years ago. Glut of off lease cars is gone (2004-2007 new sales pre-economy downturn were good--> when they came off lease economy was in the crapper so there were a lot of cars available for fewer buyers).
I think people, or at least I, realized that there will be no more classic jags so get a good one now.
I have seen this in other vehicles as well. In the last two years, the prices of lotus have not fallen at all and the price of land rover defenders have climbed 25%. These are the markets I am most familiar with, but I know a lot of classic cars have climbed recently as well.
I think people, or at least I, realized that there will be no more classic jags so get a good one now.
I have seen this in other vehicles as well. In the last two years, the prices of lotus have not fallen at all and the price of land rover defenders have climbed 25%. These are the markets I am most familiar with, but I know a lot of classic cars have climbed recently as well.
#4
10-31-2012, 06:48 AM
I had a 2006 XJ8 Vanden Plas which I bought approximately 2 years ago. It had <40k miles and it cost me about $26,000, which was about an average deal at the time.
So fast forward 2 years later, you'd think I could get the same car for about the same price, right? No! In fact, prices are seemingly $5-10k more expensive for the same X350, relative to the model year, etc.
Why is this?
My theory is that the X351 is quite a bit more desirable by the "mainstream" as it is one of the new breed of Jaguars that is quite a departure from the more stodgy classic Jaguar designs. As used X351s begin to enter the market, they command fairly high prices, and as 2008-2009 X358s are the same model line, the prices are sort of inflated due to association. Otherwise, I can't figure it out! X358s still depreciate, but the depreciation seems much flatter than you'd expect.
The only other thing I can think of is that X350s are the last of the classic-looking Jaguar designs, and that makes them more desirable.
Or maybe this is something that just applies to all cars?
Look at the attached graphics. It shows average XJ asking prices over 2 years for 2008 and 2009 X358s, and average prices of XJs of all years. The average price of XJs increasing so drastically is especially surprising!
Data obtained from cargurus.com.
So fast forward 2 years later, you'd think I could get the same car for about the same price, right? No! In fact, prices are seemingly $5-10k more expensive for the same X350, relative to the model year, etc.
Why is this?
My theory is that the X351 is quite a bit more desirable by the "mainstream" as it is one of the new breed of Jaguars that is quite a departure from the more stodgy classic Jaguar designs. As used X351s begin to enter the market, they command fairly high prices, and as 2008-2009 X358s are the same model line, the prices are sort of inflated due to association. Otherwise, I can't figure it out! X358s still depreciate, but the depreciation seems much flatter than you'd expect.
The only other thing I can think of is that X350s are the last of the classic-looking Jaguar designs, and that makes them more desirable.
Or maybe this is something that just applies to all cars?
Look at the attached graphics. It shows average XJ asking prices over 2 years for 2008 and 2009 X358s, and average prices of XJs of all years. The average price of XJs increasing so drastically is especially surprising!
Data obtained from cargurus.com.
Last edited by 912guy; 11-01-2012 at 06:05 AM.
#5
10-31-2012, 08:22 AM
Well, since there was no 2010 XJ, perhaps there is a very small number of 2008 and 2009 models (X358s) and therefore is very little supply to keep up with demand. I just don't buy the "economy is a little better argument," because I just don't think it would cause used luxury car prices to go up--certainly not by that much!
#6
10-31-2012, 09:55 AM
Well, since there was no 2010 XJ, perhaps there is a very small number of 2008 and 2009 models (X358s) and therefore is very little supply to keep up with demand. I just don't buy the "economy is a little better argument," because I just don't think it would cause used luxury car prices to go up--certainly not by that much!
#7
11-02-2012, 06:27 PM
Member
There may be something in this. I for one bought my X350 partly because it was a "last chance" to get a a big classic jag, without having a car that is old enough to give reliability issues. While there is nothing wrong with the current model XJ, and no doubt it is technically better, it could quite frankly have been made by any manufacturer, it no longer has the unique jag appeal.
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#8
11-03-2012, 06:39 AM
#10
12-17-2015, 07:58 AM
Senior Member
I don't believe in charts or graphs...If you have a used XJ8 and put average miles on it after 2 years it will depreciate quite a bit...These cars are not going to go up in value anytime soon. They are a dime a dozen especially the 04 model year...Jaguar will revive the classic style eventually with a high tech modernized version ala Mustang GT, Challenger, etc...
#11
12-17-2015, 09:41 AM
Veteran Member
Well this is an old thread and hope against hope but after all the conjecture back in 2012 when this thread started, a 2006 VDP with 40k miles has a KBB value of $14,500 if it were in very good condition, $13,500 in typical condition. Well you'd be lucky to find one now with miles that low.
We don't buy em for the resale though do we? We own them because we love them.
We don't buy em for the resale though do we? We own them because we love them.
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nlt624 (12-17-2015)
#12
12-17-2015, 01:22 PM
I think what the OP is saying applies to only the higher trim models with low miles. The base XJ8's and XJ8L's continued to depreciate and are now selling for $6-7k in my area. Just checked new X351 prices -- XJ Base $25k, XJL $27k (all with 50+k mi)-- same as your old XJ8 VDP. One could also say the X351 depreciates faster...
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