I paid $3K for this car via a friend in the Jaguar business. It was a single owner car with 35K miles. The gel coat was bad, plus I immediately spent another $3K on brakes (a full rear end job is very expensive on any XJS model prior to 95), and it's been worth every penny. I'm about to splash out on a paint job, because I love the old fashioned style of the car, and this one has chrome wire wheels as well. I may have had about 10 Jags, including 3 XJSs, 3 XJ12s, and an XJR (8) and my wife has a 2005 S-Type with all the "bells and whistles", and I think I am enjoying this as much as any, even the XJR. Don't let the low initial cost fool you though. It's not a cheap car to own.
It's smooth, has that great V12 growl, and is a real head turner. Old fashioned and hand built but with many of today's features like ABS. The chassis is incredible, with ride and handling like nothing else. This is not the car for everyone, but if you like the "character" of Jaguars you'll love it.
I wish it had the 4 speed gear box of the 95/96 model. It lacks "quickness" off the mark. Make sure you start with a good example, otherwise you'll at least triple your orignal investment in repairs to get what you want.