Lotus Elan

Plus 2 values on the up?

PostPost by: JonB » Fri May 10, 2019 11:41 am

Not sure this has been mentioned before. An article about classic cars for investors that specifically calls out the Plus 2.

https://www.adams.uk.com/classic-car-market-2018/

I don't fancy the Merc (ugly) or the E-type (expensive) so the Plus 2 is pretty much ideal for me..
Late 1972 Elan Plus 2S 130/5 - UK - Unit 50/1115L
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PostPost by: theelanman » Fri May 10, 2019 11:59 am

erm........that article is almost 18 months old...... :D

:lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol:
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PostPost by: Grizzly » Fri May 10, 2019 12:16 pm

I actually thought Elan prices in general had stalled in the last couple of years, +2's have always been approx 25% less than a 2 seater equivalent and that doesn't appear to have changed is it's quite easy to judge where the market is.
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PostPost by: Mazzini » Fri May 10, 2019 12:50 pm

It's not just Elan's but the whole classic car market as far as I can see.
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PostPost by: JonB » Fri May 10, 2019 1:00 pm

theelanman wrote:erm........that article is almost 18 months old...... :D

:lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol:


Is true. But thought it was of interest any way. Market won't have changed that much in 18 months?
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PostPost by: Mazzini » Fri May 10, 2019 1:17 pm

JonB wrote:
theelanman wrote:erm........that article is almost 18 months old...... :D

:lol: :lol: :lol: :lol: :lol: :lol: :lol: :lol:


Is true. But thought it was of interest any way. Market won't have changed that much in 18 months?


Is that a serious question????
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PostPost by: JonB » Fri May 10, 2019 2:18 pm

Yes. Classic cars aren't like highly liquid commodities (example, precious metals) whose prices are published and fluctuate on a second by second basis. So the market will tend to move more slowly. How much more slowly, I don't know, hence the question. The article is looking at classic car purchasing from the perspective of investment potential so I think the comparison with market traded assets is pertinent.

You may want to take the mickey, but I think it's a fairly serious question that merits some proper discussion.
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PostPost by: wotsisname » Fri May 10, 2019 2:29 pm

it is definitely the case that the insurers valuations are lagging significantly behind... the "book" value of a top end +2 seems to be around £15-£16k... advertised prices more like £20-£25k (maybe higher)...doesn't mean they are achieved... but an agreed value is probably a sensible idea, as long as you revisit it on renewal
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PostPost by: JonB » Fri May 10, 2019 2:49 pm

Well I had a nose round and it does look like the classic market is cooling significantly. It's hard to tell as the data is often buried (and I'm only interested in the UK market anyway). I often use eBay as a sort of barometer of worth, looking at sold prices of items. The last Elan Plus 2 sold was a surprisingly cheap Plus 2 S130 at £7,700 (after 24 bids) and this was presented as on the road with a MOT. The only thing about it that was odd was that it had a Ford Cross Flow engine fitted, not a Twin Cam, so I suppose that explains the price!

I checked my insurance and the agreed value is 16k. Will have to up that next time round...
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PostPost by: vincereynard » Fri May 10, 2019 3:06 pm

When I was looking, about Sept 2016, a good usable +2 / +2S was around the 16K . S130 / 5 - 22 >23 K.
They "usables" seemed to have dropped about 2K to 14.

Zetec kits somewhere in between.

Originallity is now more important. Interior / colour / oily bits (Although not necessarily the chassis. And definitely not the DoNuts.) Hence me building up 2 original rear struts!

Mr Clugson is still upping the prices - https://www.uksportscars.com/view/lotus ... ia-leather You may recognise the car. It was on sale when I was looking in 2016.

IF he is successful then it looks like, whilst the top end are keeping pace with inflation, the cheaper "rolling restorations" are not.
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PostPost by: JonB » Fri May 10, 2019 3:51 pm

"..repainted last year at a cost of £4,650"

Seems a bit cheap for a full paint job. I like the leather interior; I have Oatmeal vinyl and it gets very sticky in the Summer.

Hmm, well... I say "Sod those concours trailer princesses, I bought mine to drive."

And I do. :D
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PostPost by: vincereynard » Fri May 10, 2019 4:33 pm

JonB wrote: I have Oatmeal vinyl and it gets very sticky in the Summer.


I've told you, make yourself a sheepskin seat cover. Warm in winter, cool in summer.

s3100003.jpg and
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PostPost by: Spyder fan » Fri May 10, 2019 6:51 pm

vincereynard wrote:
JonB wrote: I have Oatmeal vinyl and it gets very sticky in the Summer.


I've told you, make yourself a sheepskin seat cover. Warm in winter, cool in summer.

S3100003.JPG


Baa humbug!

Our Welsh correspondent will be along shortly
Kindest regards

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PostPost by: Mazzini » Fri May 10, 2019 10:04 pm

https://www.thisismoney.co.uk/money/car ... April.html

I have three Elans (S2, S3 S/E djc and Gold Leaf Sprint dhc) and a '62 Elite, if somebody were to offer me 15% under my agreed insurance valuation for each I would be happy.
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PostPost by: EPC 394J » Fri May 10, 2019 11:48 pm

My personal view?

I think Plus 2 values absolutely are on the up and up. The article identifying them as the classic to watch, is spot on. For some inexplicable reason, they’ve always been under appreciated in comparison to their smaller sibling. I was staggered when I had a phone call from the Club Lotus guy giving me his insurance valuation of my very original, if un-concourse car! Perhaps it’s just a reflection of them becoming more rare as many of them have now been broken up for their parts, in favour of their more lucrative ‘babys’?
Originallity is now more important. Interior / colour / oily bits (Although not necessarily the chassis. And definitely not the DoNuts.) Hence me building up 2 original rear struts!

If you have anything other than an original style ‘chassis’, perhaps best refer to it as a ‘sub frame’. Lest the DVLA award you a ‘Q’ plate?

What part makes an Elan, or Plus 2, ‘original’?

Is it the chassis? Is it the engine? Is it the body? If none of those are verifiable, is it a kit car? Like a Spyder?

Can of worms?
Where, then, lies the answer? In choice. Which shall it be: bankruptcy of purse or bankruptcy of life?

Plus 2S

BLL 315H in white.
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