This 1952 Jaguar XK120 Fixed Head Coupe might appear to be an expensive starting point for a restoration project, but upon completion, it could be a car that is capable of commanding a solid 6-digit value. What makes it all the more attractive is that it is a car that appears to be free of any rust issues. It is located in Saint Simons Island, Georgia, and is listed for sale here on eBay. The BIN for the Jaguar has been set at $37,000, but there is the option available to make an offer.

The single most worrying area of the Jaguar’s body is the left-rear corner, which is exhibiting signs of previous accident damage. However, the frame is said to be okay, so this area would seem to be repairable. The owner doesn’t provide any external photos that give us a clear look at this corner of the car from the outside, so it isn’t completely clear how good the panel alignment is. He does give us plenty of photos of the vehicle’s underside, and apart from a light dusting of surface corrosion, the frame and floors look to be perfect. The same would seem to be true of the body panels, although the original Cream paint has most certainly seen better days.

As with the external paint, the Biscuit colored interior trim in the Jaguar has also seen plenty of better days. It will require a complete restoration, but apart from the carpet, it does look to be largely complete. The “big ticket” item inside the car will be the dash, which will probably cost a fair amount to revive. Replacement upholstery for the XK120 is surprisingly affordable, but the timber on the dash has deteriorated badly, while the gauges will either need to be restored or replaced. To give you some insight into this, I have found a couple of companies that can supply a full set of replacement gauges for an XK120, but you will get no change out of $4,000 for those alone.

The Jaguar is a numbers-matching car, meaning that the original 3,442cc DOHC 6-cylinder engine, capable of producing 180hp, nestles in the engine bay. Backing this is a 4-speed manual transmission. That’s the good news. The bad news is the fact that the XK has been parked since 1974, and the engine doesn’t turn. That means that it will almost certainly need a full rebuild, provided it can be successfully unlocked. Getting that engine turning freely and in a fit state for a rebuild is pretty important, because keeping the car as numbers-matching will have an impact on its ultimate value.

Today it is possible to buy a driving example of the XK120 Fixed Head Coupe for under $80,000, but it will be a car that will still require some work to bring it up to its best. Immaculate examples will command prices of $110,000, while you will get no change from $130,000 for a pristine example. I even found a spotlessly restored, numbers-matching XK120 that sold recently for $152,000. Amazingly, that is still well short of the record sales price, which was set at $213,000 in 2015. That is one of the reasons why getting that motor turning is so vital. There is no reason why this car couldn’t command prices well in excess of that $130,000 figure if properly restored, but to do that, it would need to be a numbers-matching car. It will be a challenge, but it could be a challenge that is well worth accepting.