Cheap Luxury: 1999 Jaguar XK8 Convertible – Sold?

August 13, 2022, Update – We just confirmed the listing for this “Classifind” expired, so with no replacement found, we’re assuming this ride is “Sold?” While this one got away, please reach out either by email or call us directly if you’d like to be informed when we come across something similar.

When it comes to acquiring a new project car, there’s a certain point whereby the price is so good that even an extremely needy vehicle begins to look appealing. It’s the how can I go wrong scenario. This 1999 Jaguar XK8 convertible is firmly in that space with a dirt cheap asking price owing to some mechanical issues that are serious but straightforward. This Jaguar was originally listed in July 2022 on Craigslist in Stone Mountain, Georgia, with a busted torque converter and an asking price of $2,750. Comparing that price against the model guide here on Classic.com shows an average sale price of over $13,000, but that assumes a running, driving example with lower miles:

The XK8 is one of those collector car marketplace enigmas. It has all the hallmarks of being a sought-after Jaguar, with show-car looks, powerful V8 engines, classic two-seater proportions, and far more manageable costs of ownership than the Jaguar lineup of the early 90s. In some ways, the XK8 was too much of a good thing, as production numbers were definitely quite high and it lost some of that exclusivity that make the prior generations so special. The XK8 also felt somewhat cheapened in some critics’ opinions, as Jaguar wasn’t really Jaguar anymore. It was a Ford-owned company, and if you’re part of the Ford umbrella, component-sharing is a standard cost of entry and some of the brand’s identity is sacrificed in the process. Still, the XK8 was a decent package overall and subsequent versions introduced more powerful models and refreshed styling. That said, the early cars are generally quite affordable, especially in a non-drivable condition like our subject car.

The Men & Motors YouTube Channel provides this Buyer’s Guide and Advice video when contemplating the purchase of one of these automobiles:

The seller does his best to paint the potential upside to his British Racing Green XK8, which is absolutely the best color to find one of these in. The color combination is for sure a winner, but there’s a few more issues beyond just the failed torque converter. The power top mechanism suffers from a common XK8 fault, which is that the hydraulic fluid contained within the top mechanism has started to leak, which eventually turns your power top into a manual one. This is a common flaw on the XK8 and easily repaired via DIY or at the dealer. The seller also reveals that the driver’s seat leather is tired and that one of the headlight covers blew off on the highway. All minor concerns for sure, but still tells a story about where this XK8 is on the revitalization scale. For the price, it’s still hard to go wrong, but I’d push a little harder for a discount given you’ll have to tow the car out of Georgia to get it wherever it’s going. Would you take it on for $2,500 or less?

Here’s the seller’s description:

“Jaguar xk8 convertible coupe 1999 model with only 137,221 miles. Manufactured in England

British Racing Green exterior with sand convertible top (I have leather bonnet for when tops down) and sand leather inside (drivers seat needs help but I have spare seat foam)

Upgraded Pioneer detachable face stereo head unit with Bluetooth and USB ports plus remote control. New component speakers (mids and tweeters) from Polk Audio up front with Orion 600 watt 4-channel amp in the trunk. (2 channels are still unused and available)

4.0 liter V-8 engine (296 HP)
Car is in good condition for the year, and has been taken care of with many recent parts and repairs. Car fires up and runs great, but cannot drive as it almost certainly needs a torque converter replacement. Purrs like a kitten otherwise. The convertible top system has a fluid leak somewhere, and one glass headlight lens is missing as it blew off on the highway) Power steering may have a small leak as well. Needs a bit of TLC to be a daily driver again.

Car is in my garage on a battery tender to ensure the battery functions and remains in good shape. Tires are decent but will need replaced within 6/8 months or so…

Car is not currently registered but passed emissions last year without a problem.

Some paint pealing off small trunk. A few tiny dings and scratches in paint finish from normal use. Drivers seat in rough repair (leather), passenger seat is not too bad. Back seats are in VERY good shape and possibly never sat in (no adult can fit back there).

I love this car, but I need to let it go. This car sold for around $74,000 when new (more in todays dollars), and gets looks and comments everywhere I took drive it. This car needs only some TLC, and will be a thrill to own for years to come… Hate to let this one go, but sometimes it is time to go another route… Thanks for looking!”

Worth repairing: should this XK8 get a new lease on life with a fresh torque converter?