The creation of the XK120 in 1948 heralded a new benchmark when it came to production sports car performance, and the model was the first true sports car made by Jaguar since the SS100.

And it set a high bar indeed. It offered drivers an exotic and sublimely beautiful ride capable of stunning performance from its 160 hp, twin-overhead cam inline six-cylinder engine.

The XK120, designed in just 3 months by Sir William Lyons, was meant as simply a test platform for his new 6 cylinder twin OHC engine, but when it was launched at the 1948 Motor Show, the XK120 which offered swooping lines and 120 mph (193 kph) performance caused a sensation.

But what sealed the deal was a price point that made it seem like a showroom steal. Buyers could have all that performance and sophistication for under $4,000. At the time, that was serious money, but it threw down the gauntlet to dealers of other marques and offered supreme performance for that money.

Following the tremendous success of the XK120, Jaguar decided to stay with the formula, rather than ruin the blend, with the successor, the XK140. It came with a number of changes, including an engine moved forward by three inches to provide more interior comfort, and an upgrade to the standard engine which pumped up output to 190 bhp from the 3.4-liter inline-six. The MC option offered an additional boost to performance with its 210 horsepower output.

Examples of the XK140 MC were difficult to procure when new, and they’re now increasingly rare on the classic car market. Yet from time to time they do surface, like in the case of this highly desireable 1955 Jaguar XK140 MC, the result of a restoration that began in 2000 and ended in 2015.

Presently listed as for sale on Bring a Trailer, it comes with a Jaguar Heritage Trust certificate, photos taken during the restoration, a service book, and a clean Florida title. The car shows 69,000 (111,000 km) miles on the clock and a red body over a tan interior, all propped on black, 16-inch wire wheels.

At the time of writing, the highest bid for the Jag sits at $32,500, but there are still seven days left in the auction, so that might go up a bit.