The Jaguar E-Type is one of the most iconic sports cars of all time, and a popular relic among avid car collectors. Due to its rarity, one of the most sought after models is its lightweight variant, the E-Type Lightweight Competition - Jaguar only built 12 of them. One recently went up for auction at Scottsdale in Arizona via Bonhams for the first time in over a decade, where it sold for a record $7.37 million by a telephone bidder. Not only is this the most expensive E-Type ever sold, it's the most valuable post 1960s Jaguar to sell at auction.

The 1963 E-Type Lightweight Competition had only driven 4,000 miles, and was in immaculate condition having been stored away in the UK for over two decade. Back in 1963, this model was driven to victory in the Australian GT Championship by Bob Jane, adding value to this already rare sports car. It packs a straight-six, 3.8-liter engine that produces more than 300 horsepower compared to the 265 hp of the original E-Type and a 0-60 mph time of six seconds. Aluminium alloys replaced the steel body panels of the original to bring the weight down to 960 kg. As you can imagine, the result was glorious.

18 "Lightweight Competition" E-Types were originally planned to be built, but Jaguar managed just 12, only 11 of which currently exist today. Mercifully, Jaguar built six continuation models of the E-Type Lightweight Competition over the last few years with 340 hp on tap to complete its original intended run of 18. It's the very definition of a modern classic.