Lotus Elan

What's it worth?

PostPost by: jasper2347 » Sat Aug 17, 2019 12:48 pm

Have a chance to buy a +2 1973 S130 with big valve motor. Been stood inside since 1984. Parked up because of the head gasket. Engine in bits, had all the valves done, ready to install. Will need water pump, gaskets etc. Gearbox out and has been overhauled. Body, although in a rubbish paint job in the wrong colour is is great condition, with only minor cracking around the usual headlight pods and the heater vents and washer jets. Only downside I can see is it has a glass sunroof in it and a black vinyl roof. On Steel knock on wheels. Car is all there and just needs a nice paint job and reassemble. Any ideas on what it's worth to buy? Guy wants me to tell him rather than tell me what he wants. Cheers. :)
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PostPost by: JonB » Sat Aug 17, 2019 2:18 pm

Problem is the paint. £10k for a good job. Engine and box are unknown quantities - are you going to reassemble yourself? What condition is the dashboard and interior in? Suspension probably needs rebushing and new trunnions / uprights on the front. What are the shock absorbers like? Wiring? Is the chassis original and if so have you checked for rust (especially front turrets)? New chassis from Spyder: £1865+VAT.

All these items are not minor jobs. If you are going to restore it properly (body off, as you would if you were going to respray) your budget should be around £20k. So you're looking at buying the thing for no more than £5k-£8k.

Do bear in mind that much of the car is unknown - especially "what it runs and drives like". Ask the owner why it was left off road in 1984. Yes, head gasket, sure; but why has it been left since?
Late 1972 Elan Plus 2S 130/5 - UK - Unit 50/1115L
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PostPost by: jasper2347 » Sat Aug 17, 2019 4:49 pm

About where I thought, around 5k was enough. Car has done 28k from new with one local owner and serviced at a local Lotus agent, now closed. Run my own body shop so no problem there. Son who is selling for sadly deceased father says the suspension was all redone, bushings shocks discs calipers etc around two years back. No fluid in the system at all, so that's good news.. Cylinder head was worked by a local machine shop and looks great with invoice for new valves, unleaded seats and has a non corroded face. Would recon. the engine bottom end if required after measuring. Water pump is there but not worth risking. Can't really see the chassis that well, but what you can see at the front with the motor being out looks like new. Tyres are obviously dead, but not a problem. Interior is perfect, even the carpets are nice, all the switches are where they should be, glass is all good with no cracks in the screen. Car was obviously running fine before the gasket issue. There is a load of old bits in a box, suspension, brakes etc. so what is on the car has been replaced. Think I'll have a go at the 5k level and see what he says. Think you would get that breaking the car anyway. I agree it's not worth much more in the present condition. Thanks for your thoughts. Rob :D
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PostPost by: JonB » Sat Aug 17, 2019 8:21 pm

Good luck, Rob.

The engine is probably worth that on its own, but of course we'd rather see another one restored to the roads instead of sold off piecemeal. If the low mileage is genuine and the provenance good you might have a bit of a sleeper on your hands.
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PostPost by: RichC » Sun Aug 18, 2019 11:01 am

£5k is a bargain .. Good luck !
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PostPost by: seriouslylotus » Mon Sep 02, 2019 2:29 pm

This just popped up for sale
https://www.carandclassic.co.uk/car/C1130893
Gives some idea of whats out there
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