If you’re after luxury on a budget, but a Jaguar is too flash and a Mercedes too clinical, the Rover P5 fits the bill like nothing else

If Rolls-Royce hadn’t existed in the ’60s, there’s a good chance the Rover P5 would have assumed the mantle of ‘best car in the world’. Sure, Mercedes was creating some impressive machines, but when it came to luxury, power, ambience and presence, nothing could carry it off like the P5 – especially when the price tag was taken into consideration.

Four decades on, little has changed. The P5 still has all those qualities that made it so achingly desirable, yet the costs are even lower; for little more than ten grand you can buy a mint example. If you’re after luxury on a budget, but a Jag is too flash and a Merc too clinical, the P5 fits the bill like nothing else.

The P5 made its debut at the 1958 Earls Court Motor Show. It was Rover’s first car with monocoque construction, although it retained a subframe for the steering, engine and suspension. Despite this, it was still an old-school Rover: over-engineered, upright and very conservative. It looked even more old-fashioned when the P6 arrived in 1963, but it was the P5 that was the first to receive the Buick-derived V8 in 1967, with the arrival of the 3.5-litre P5B. If the six-cylinder cars had been desirable, the V8 edition was – and still is – an even more enticing prospect.

Peter Mueller monitors the market for the Rover P5 Club. He says, ‘The P5 has long enjoyed a steady demand, which has usually exceeded supply at the top end, but values have remained steady in recent years. The 3.5-litre Coupé has always been the most sought after and hence the most valuable, but the saloon also has a strong following. The 3-Litre has never been in favour unless in exceptional condition; while many enthusiasts rush to buy a six-cylinder P4, the early P5 with a larger version of the same engine has never enjoyed such popularity. That’s because the P5B has always offered one of the cheapest routes into V8 territory.’

Although mint cars will always find buyers, there’s also a steady demand lower down the scale. There are four distinct groups of buyers: the first is those who want a project car for just a few hundred pounds, followed by those on a budget who can find only the £2000-4000 for a decent model. Next group is those who can afford a really nice P5, who can pay significantly more money; typically £4000-8000. At the top end are those who can afford – and will settle for nothing less than – a one-owner, low-mileage or freshly restored P5, often through Hurst Park Automobiles, a long-time specialist in exceptional P5s.

Peter continues: ‘Colour can make a big difference to a P5’s value. Anything with a buckskin interior will be more desirable, as will anything with blue or burgundy paintwork [Arden Green is also popular]. A 3.5 Coupé is worth 25% more than an equivalent 3-Litre saloon, which means that the best V8s are commanding £15,000 or more.’