Restore or Sell?

[Roger1944]

I am in urgent need of advice as to what to do with the remains of 2 Lotus cars that I have clung onto for more than 3 decades is the vain hope I would one day manage to make them roadworthy again. Now, as an OAP, I have finally accepted that the work required is beyond me and, to make matters worse, I need the garage space currently occupied by said cars.
The 2 cars in question are a 1971 Sprint part way through a chassis change (from the days before chassis came galvanised) and a 1973 +2 wrecked as a result of brake failure. No substantial work has been done on either of them during the last 30 years. I think the +2 is probably beyond redemption but I would like to see the Sprint restored if at all possible on my limited means but since just about everything will need to be restored that might be beyond me even if restoration turns out to be cheaper than the market value of the restored car.
So can someone recommend a restorer who would be willing to work to a price somewhat less than market value of the restored car who I can approach for a quote? Hopefully someone close to West Yorkshire rather than towards the far ends of England.
Or is my only option to put the remains up for sale and take whatever someone is prepared to offer? If that then where to sell and what sort of price can I expect for the cars?
Many thanks to anyone who takes the trouble to respond.

[ElanSeries2]

Posting some photos would help, but from what you say, its going to need everything doing... The expensive bits are:
1) Bodywork, 2) Engine, 3) Getting hold of rare missing bits. If the car is complete, that's a good start. If it needs a full respray (and after 30 years, its going to), you could be looking at ?4,000-?7,000 just for that. Have you got a new chassis? Does the engine turn over? I'm not as experienced as others on the site, but if the car needs a respray, new chassis, all the suspension replaced and a full engine rebuild and work to the interior - and you can't do it yourself - then this is going to be very expensive.

On the other hand, Gary (Piss-ant) shows in his Sows ear thread what is possible with enthusiasm and limited budget. And a really good drop-head Sprint could be worth maybe ?35,000 or more? A good fixed head is a little less, maybe ?30,000.

Where are you based? Its possible someone here might come and have a look/offer advice. I do know some folk in West Yorshire/North who could help. Hope this helps...

[Elanman99]

Roger

I think that before you make any decisions you should spend some time looking in the (recent) archives of this website. You will get a much better idea of what people want, the value of the cars, and just generally learn a lot about the current market.

Restoration costs are high (especially bodywork and resprays) but then not every restored car has to be concours. If you have a rethink and want to make the Sprint into a usable runner then the Plus 2 will be a valuable resource of (mostly) running gear.

If you go for it (I hope you do) then this website, (through its contributors) is a goldmine of information.

Ian

[Apx]

If it helps with values, theres been two auctions this year that I've seen sprints have come up. both not perfect but good and they made 22 and 23 thousand respectively. i've looked at one that was good and complete but not running and requiring light restoration and complete bodywork i offered 14500 and was later told by the owner it went for 15000.

[Spyder fan]

Hi Roger,

Nobody worth reccomending will restore your Sprint for less than ?25,000 (including VAT) and that will be the bare bones complete with a basic re-spray, not an SMS or Option 1 concours paint job. Freshly restored it will struggle to sell at more than ?30,000.

In my opinion it isn't financially worth restoring an Elan professionally unless you are going to keep it to enjoy.

With regards to selling:
Sometimes tha magic words "ELAN SPRINT" can make people go all misty eyed and forget their good financial sense, because of this it's always a good idea to sell a project of this type on Ebay as an auction. You can always set a reserve so that the car doesn't sell for less than you want. Then be prepared to answer lots of questions and have appallingly long telephone conversations with all the dreamers out there, but remember that by doing this you stand a far better chance of getting a good price for your car. The +2 is a good one to sell on Ebay as well. When selling on Ebay, under no circumstances accept an offer to end the auction early, people only make offers to try and get the goods at a price they want to pay, but often will be prepared to pay more, so let that auction run and hope you get a bidding war.

If both cars are complete (apart from accident damage on the +2) they are worth around ?10,000 as a job lot advertised in the classifieds, but you could get a lot more if you market them correctly.

[Roger1944]

I am new here and can?t see how to reply to individual posts so this is a composite reply.
Photos will have to wait for the moment as I am only 4 days out of hospital after a hernia op. and banned from moving or lifting anything heavy.
The good news is that the Sprint is a rag-top. The bad news is that it needs just about everything bar a chassis change. The chassis was new in 1977 and the rebuild originally ground to a halt due to lack of certain parts. Prices of spares now seem reasonable. It is labour that is expensive and I have finally accepted that I am just not good enough to do it myself.
I live in Keighley and anyone who wants to come and view is welcome to visit.
If a restoration is going to cost ?25,000 then it is beyond me. My savings won?t run to half that sum. So it is going to be a sell then. Both cars are partially dismantled, the Sprint more so with the body just sitting on the rolling chassis. I think I should have all of the parts apart from the bits of exhaust that have rusted away.
I would prefer the pair to go as a single job lot since the wrong engine is in the +2 following a sump full of petrol incident and it will be months before I will be fit enough to pull it out.
If anyone is prepared to stump up ?10,000 they can have both cars now provided they are prepared to do the donkeywork shifting everything around.
Incidentally one curious fact I remember from way back when. The Sprint had Webers and was always a sod to start. The +2 had Dellortos which transformed the transplanted engine.

[trw99]

Roger

In an effort to be helpful to you, I have sent you a private e-mail message via this site.

Tim

[elansprint71]

I think that ?10k is an absolute minimum for the package; e-bay should, almost certainly, get you quite a bit more than that, particularly if a bidding-war comes your way. In any event you can set a reserve, if it is not met try again next week and who knows?
Sprints have been worth a lot of money for a long time now, therefore the number of projects coming on to the market diminishes every year. Plus 2s have been down to the bottom and are now on the up as folks realise just what good value they are... even as a project.

Good luck and keep us posted.

[ardee_selby]

As Pete has said. e.g. this S4 Coupe project without an engine was bid up to ?5.5K before someone stepped in and paid the ?10.5K to "Buy it Now"!

http://www.ebay.co.uk/itm/170914987467? ... _cvip=true

Cheers - Richard

[types26/36]

this S4 Coupe project without an engine was bid up to ?5.5K before someone stepped in and paid the ?10.5K Cheers - Richard

Well here is a complete car (in bits) for 10K
http://cgi.ebay.co.uk/ws/eBayISAPI.dll? ... SS:GB:1123

[seriouslylotus]

As Pete has said. e.g. this S4 Coupe project without an engine was bid up to ?5.5K before someone stepped in and paid the ?10.5K to "Buy it Now"!

http://www.ebay.co.uk/itm/170914987467? ... _cvip=true

Cheers - Richard

Are you sure???
Its now for sale on pison heads!!!!

[ardee_selby]

Are you sure??? Its now for sale on pison heads!!!!

Well...it said sold as opposed to no longer available...

[elansprint71]

this S4 Coupe project without an engine was bid up to ?5.5K before someone stepped in and paid the ?10.5K Cheers - Richard

Well here is a complete car (in bits) for 10K
http://cgi.ebay.co.uk/ws/eBayISAPI.dll? ... SS:GB:1123

Baby Elan!!!!!!!!!!!!!


No PayPal- cash only on collection. Man turns up at lock-up with ten grand in readies, man found unconscious one hour later, no sign of the cash.

[AHM]

From the tone of your message my advice is to sell - put your efforts into getting the best price and the money in the bank.

You don't have to respray a restoration.

[elanner]

Am I allowed to say that I don't think I've ever met anyone who said to me "I'm glad I sold my Elan."

Typically there's a sad story, justifying the sale, but it's invariably followed by "I should have kept it."

They are like land - not being made anymore.

Nick