For automotive enthusiasts and collectors, the formula is usually quite predictable: a celebrated marque with a rich racing heritage unveils a limited-edition version of its flagship sports car. The automotive press raves about its unique character and performance. It’s instantly deemed a future classic, and these special editions typically command premiums on the collector market, often exceeding their original sticker prices. However, the Jaguar F-Type Project 7 presents a fascinating anomaly to this well-worn narrative. Despite ticking all the boxes of a desirable collector car, this rare Jaguar is currently trading hands for less than its original MSRP.
This intriguing situation is perfectly illustrated by a recent sale on Collecting Cars, where a Jaguar F-Type Project 7 fetched £105,000 (approximately $131,000) before auction fees. To understand why this limited-edition Jaguar, the Project 7, finds itself in this unusual position, we need to delve into its history, features, and the current dynamics of the collector car market.
Jaguar’s legacy is deeply intertwined with motorsport success. Before Porsche and Ford became dominant forces at Le Mans, Jaguar established its reputation on the Circuit de la Sarthe in the 1950s, securing five overall victories. This early dominance forged a performance-oriented identity that resonated for decades. Later, in 1988 and 1990, the iconic purple Silk Cut liveried XJR-9 LM and XJR-12 LM Jaguars added further Le Mans victories to the brand’s illustrious racing history, reinforcing its performance credentials into a new era.
By 2013, while Jaguar still held a reputation for luxury, its performance image needed a jolt of adrenaline. The introduction of the F-Type sports car was a significant step in revitalizing this aspect of the brand. To further emphasize its sporting heritage and celebrate its seven Le Mans wins, Jaguar unveiled the F-Type Project 7 concept at the 2013 Goodwood Festival of Speed. This car was not 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 legendary Jaguar D-Type. The unveiling was met with immediate enthusiasm. Prospective buyers lined up quickly, transforming what began as a marketing exercise into a limited production run of just 250 vehicles. This exclusivity was a key element in its initial appeal and anticipated future collectibility.
Automotive reviews at the time praised the Project 7 for its heightened F-Type character and the potent 575-horsepower V-8 engine – a notable 25-horsepower increase over the standard V-8 F-Type. However, they also noted its demanding nature when driven at high speeds, adding to its raw, driver-focused appeal. Beyond the power boost, Jaguar engineers implemented chassis enhancements, including revised springs, dampers, and sway bars, to sharpen the car’s handling dynamics. Weight reduction was also a priority; the Project 7 shed approximately 190 pounds compared to the standard V-8 convertible, partly due to a minimalist fabric roof designed more for brief rain showers than extended top-down touring. A lower windshield, a distinctive fairing behind the driver’s seat, and racing-inspired roundels on the doors further cemented the Project 7’s connection to Jaguar’s racing lineage.
Given its inherent charisma, limited production numbers, and the generally robust collector car market of recent years, the current depreciation of the Project 7’s value is somewhat unexpected. This particular 2015 example, sold for around $131,000 before fees, is well-equipped, boasts a consistent service history, and appears to be in excellent condition. While its odometer reading of 3387 miles is higher than some auction examples, it’s still relatively low for a car of its age. Considering the original starting price of $165,995, this sale price represents a substantial discount from new.
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 on the platform have transacted for less than their original sticker prices. Similar results have been observed in European auctions, suggesting a broader pattern of depreciation for this limited-run Jaguar.
To put this into perspective, consider the 2011 Porsche 911 Speedster, another low-windshield, limited-edition model inspired by Porsche’s heritage. Production was limited to 356 units, and its original MSRP was $204,950. Today, a Porsche 911 Speedster in #2 (Excellent) condition commands a value of around $379,000 and consistently sells for well above its initial price. This stark contrast begs the question: what factors are contributing to the Project 7’s less-than-stellar market performance?
One possibility is that the Project 7’s historical references, rooted in mid-20th century Jaguar racing, might not resonate as strongly with contemporary collectors compared to Porsche’s or Ferrari’s heritage narratives. However, a deeper look into market trends reveals more nuanced explanations for the Project 7’s valuation.
The collector car market may still be in the process of establishing the Project 7’s place within the hierarchy of collectible Jaguars and limited-edition sports cars in general. This period of market discovery isn’t unique to Jaguar. The Ferrari 550 Barchetta Pininfarina, another open-top special edition, has experienced greater value appreciation than the Project 7, but its market positioning within the Ferrari lineage is still subject to price fluctuations, indicating ongoing market evaluation.
Time and perspective could also be crucial factors. The BMW 507, now a blue-chip collector car, initially took decades to achieve widespread recognition and appreciation, overcoming its initial commercial failure. While the Jaguar Project 7 may not reach the stratospheric heights of the 507, its future prospects could brighten as it matures within the collector car landscape. Jaguar’s announcement that the F-Type will be discontinued after 2024, effectively ending the marque’s sports car production, may ultimately enhance the Project 7’s appeal. As Jaguar transitions towards an increasingly electrified and SUV-focused lineup, enthusiasts may look back at the F-Type and its most extreme iteration, the Project 7, as the definitive and characterful swan song of Jaguar’s performance legacy.
Until that potential future appreciation materializes, the Jaguar Project 7 remains a comparatively affordable entry point into the realm of limited-run, modern sports cars, offering a unique blend of Jaguar heritage, exhilarating performance, and relative value in today’s collector market.
