Collecting Cars

Collecting Cars: Jaguar XJ220

November 8, 2024

Event Date:

Read time: 5 mins

Author:

James Mills

Is the Jaguar XJ220 the most underrated and undervalued supercar of its time? It’s a big question but one that deserves scrutiny, because if it is, there could be room in the market for the values of the 220mph supercar to take off…

Named after its potential top speed, the Jaguar XJ220 set an ambitious benchmark, designed to compete at the pinnacle of high-speed performance. Originally showcased in 1988 as a prototype with a V12 engine and all-wheel drive, the XJ220 entered production in 1992 as a twin-turbocharged V6, rear-wheel-drive supercar. Despite the shift in mechanical makeup, it achieved a proven top speed of 217 mph, briefly securing it the status of the fastest production car of its era. It also offered a snapshot of Jaguar’s engineering prowess off the back of its competition pedigree in sports car racing.

Yet there has always been a cloud hanging over the XJ220’s streamlined body. Does it really rank as a significant, collectible piece in the history of the supercar?

History of the Jaguar XJ220

The original XJ220 prototype designed with TWR was a V12, four-wheel drive concept.

The XJ220 began as a side project at Jaguar, developed by 'The Saturday Club' – a small, passionate team within the company that gave up their weekends to create something off the back of Jaguar’s success in Group C racing and ultimate victory at the Le Mans 24 hour race.

The concept car was initially unveiled at the 1988 British International Motor Show, and wowed potential buyers and car enthusiasts alike. Demand surged as enthusiasts embraced the idea of a V12, four-wheel drive Jaguar supercar, and 350 deposits – at £50,000 a piece – were handed over.

However, the final production model underwent substantial changes: instead of the V12, it received a lighter, race-proven 3.5L twin-turbo V6 from Jaguar’s XJR-10 and XJR-11 sports prototype racing cars. This may have reduced the car’s overall weight and still delivered a robust 542 horsepower, but the omission of four-wheel drive and a V12 met with mixed reactions. It didn’t help that the final price of the XJ220 had climbed to £403,000 – when a Ferrari F40 cost less than £200,000 – and the financial climate had caught a cold.

Customers weren’t happy. Some went so far as to demand a refund. Jaguar refused, and the various parties argued their case in court. Jaguar won but the reputational damage had been done.

While some were disappointed, the XJ220 achieved extraordinary performance metrics, including a 0-60 mph sprint in 3.6 seconds and its record-setting 217 mph top speed. Its name, XJ220, reflects the initial goal of reaching 220 mph, a speed it came very close to achieving with F1 driver Martin Brundle at the wheel, in 1992.

The big cat’s got claws

The XJ220’s design, with its low-slung, aerodynamic body, is more sculptural than most contemporaries. Jaguar crafted the aluminium bodywork with sculpted lines that not only enhanced its sleek aesthetic but also optimised airflow for ultra-high-speed stability. Yet it’s a big beast, at 4.8-metres long and more than two-metres wide, which you really notice when just pottering about or trying to park at your local cars n’ coffee event.

Inside, the layout is minimalistic, focusing on the essentials – great seats, a sound driving position and clear but simple instruments with an extra set of dials set into the driver's door. The seats are excellent but the dashboard and base of the windscreen are miles away, which can feel disconcerting.

The twin-turbo V6 is known for delivering power with a slight delay, a characteristic turbo lag that adds to the thrill. As the turbos spool up, they release an immediate surge, making the XJ220 feel ferocious on the open road that always calls for respect and a considered approach at the wheel. There are no driver aids whatsoever…

At lower speeds the suspension seems firm and unforgiving, while the turning circle is comical, but as the pace picks up the XJ220 settles beautifully and the unassisted steering comes into its own with fantastic feedback and quick responses. Many imagine it is a car best suited to straight-line speed sorties, but the surprise is that it’s alert and agile like you wouldn’t believe, and far more engaging than a Porsche 959. But… take liberties and it will bite.

Owning any supercar like the XJ220, however, requires commitment beyond the driving experience and purchase price. A bi-annual service with the likes of Don Law Racing in the UK will costs around £7000. Sourcing the Bridgestone tyres can be tricky, as they are made in limited batches. And all the while, at the back of your mind, is the nagging notion that at some point in the not-too-distant future, it may require a comprehensive overhaul and restoration, which will be a significant financial commitment.

Tracking the values of the Jaguar XJ220

Ten years ago it was possible to pick up an XJ220 for £150,000, writes Giles Gunning of The Classic Valuer. Today, you can expect to pay anywhere between £350,000 at the bottom end of the market to more than £500,000 for a pristine example. The world record is for a Le Mans Blue-finished XJ220 with just 1,300 miles selling for $687,000 (£551,000) in 2023. That car was sold in the US where typically we see XJ220s trade at a premium to what they do this side of the pond. The European record currently rests with a ‘93 car with 385 miles on the clock – Bonhams sold it in 2021 for £460,000.

Whilst prices are up a seemingly significant 150 per cent in the past decade the big question is this: are XJ220s still undervalued? You could argue they're not. After all, the free market determines the value of something and therefore how could something be under or overvalued? But that would be a pretty dull conclusion – so let’s look at its contemporaries.

A Bugatti EB110 GT will set you back between £1 – £1.5 million, an EB110 Super Sport between £2m – £2.5m. Whichever way you cut it, that’s a two to five times multiple on an XJ220. Then compare it with the Ferrari F40. Average prices now sit at more than £2m – around a four time multiplier.

Now ask yourself whether an XJ220 is five times less desirable or valuable as an EB110? What's at play here are three influencing factors. The EB110 is rare, has a superior technical specification (on paper, at least) and is associated with a super-luxury brand.

A total of 283 XJ220s were produced whereas there were less than 150 EB110s. The EB110 has a quad-turbo V12 rather than a twin-turbo V6; Bugatti is arguably the stronger brand, although the XJ220 is a prettier thing. Does that make it up to 5x less desirable? Absolutely not.

What about its contemporary Ferrari? Is an F40 four times more desirable than a XJ220? Whilst both were twin-turbocharged the F40 packed a V8 rather than a V6. 1,315 F40s were produced, officially. That makes it four times more common than the XJ220.

But the F40 has a reputation that far exceeds that of the XJ220, partly due to Ferrari’s brand strength but also its wild, visceral driving experience. You’ve also got a far broader range of specialists to care for an F40 – although slowly but surely more specialists are embracing the XJ220.

Whilst the F40's looks can be divisive, that isn’t the case with the XJ220 – it’s stunning. So, on balance, does that make an F40 four times more desirable than a XJ220? Absolutely not.

The question then becomes should the XJ220 be worth similar money to an EB110 or even a F40? No, but they should be a lot closer in price than they are…

The current price delta certainly isn’t justified and the market is increasingly chasing iconic analogue supercars from this era so I predict one world record busting sale will release the flywheel and XJ220s will start accelerating towards the £1,000,000 mark.

Ironically, in today’s money the XJ220 launch price would be just north of £1,000,000…