My understanding is that the reason the the judgment went against JD Classics, was the aggrieved buyer (who spent £40m with JD Classics) alledged that Mr Hood acted as his his agent for the sourcing of the cars, a charge that Mr Hood unsuccessfully defended. On that basis the judge found that Mr Hood could not be acting on the buyers interest, by selling him a car that Mr Hood already owned.
It’s unusual for a buyer to win this sort of action these days, where the point of law examined is a bending the truth by a classic car dealer, something the more worldly of us frankly expect. Let’s hope it does some good to improve the worst elements of the classic car trade.
Incidentally, I’ve been a guest at an open day at JD Classic’s where Derek Bell entertained us with some reflections of his career. My brother in law bought a 3.8 Mk II Jag for a (to me) crazy £120k, and with his eyes wide open. That Mk II he bought was the best on the world and a Hood gave him £50k for his old MkII. I’m not the kind of person, who buys cars in environments like this and being in engineering all m life, I’m not easily impressed, but JD was an operation like no other. 60 employees, over a hundred cars, several million pound Cobras knocking around like they were common place. We examined a 300SL gulling, that could not feasibly been restored to a higher standard. I’m sad to see that part go, because it was unique. I’m not convinced the new owners will be there for long.
