Lotus Elan

Time to Part with my 1964 Series 1 Elan

PostPost by: AlfaLofa » Wed Mar 30, 2011 8:08 am

Because of ill-health it is likely that I shall be forced to give somebody else a chance to own my Type26 Elan.

The car is a very original RHD car with many original features such as:

? Window pulls,
? Aluminium kick plates
? Black instrument bezels
? Woodrim steering wheel
? Aluminium Radio Suppression Plug Cover and back plate
? Original Radiator (but currently fitted with a Tony Thompson aluminium unit and swirl pot)

I have owned the car (and the green log book) for over 38 years. It was fully restored in 1999-2000 with the engine, diff and uprights sorted by Mick Miller and the Gearbox overhauled by Paul Matty.

A new front body section was also fitted at the time of the restoration to rectify a repair carried out in the 1970s.

The car was fitted with "fast road" cams from Ian Walker Racing in the early 70's - hopefully they are still in situ following the engine rebuild.

Getting the car a good home is just as important as getting the right price.

The attached photo is of the car shortly after its restoration.

The car needs minor remedial work to the bonnet - which has minor bowing like just about all S1 Elans.

I have an idea of the car's value - but I would like advice in this area.
Attachments
NoNumberPlate.jpg and
Steve
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PostPost by: Elanintheforest » Wed Mar 30, 2011 11:24 am

Steve
Sorry to hear about your circumstances. The value really will depend on the quality of the restoration, and how complete the car is with all its original bits and pieces. A project S1 sold a few weeks ago for ?13k, missing a lot of the goodies it should have (woodrim etc.), and needing absolutely everything restoring. A perfect car with good door clearances and headlamp fit (both were good on the S1 & S2) with near 100% originality would be ?30k plus. I would have thought that your car would be in the ?22k - ?30k range, depending on the above.

But with a top car it would be better to sell via a dealer. If Paul Matty knows the car, why not give him a ring? If he sold it on commission, chances are you would still get more for the car than selling it privately.

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PostPost by: Bahamayellow » Thu Mar 31, 2011 6:54 pm

Steve I agree with Mark that a well connected dealer like Paul Matty is probably your best bet. I understand your reasoning behind wanting it to go to a good home but unless you know the intended purchaser well I would be wary. Recently a nice chap in the Mini Cooper Register put his beloved 1071 Cooper 'S' (similar to one I own) up for sale on a mini cooper forum. He received a call from a supposed enthusiast who said he would cherish the car and that it would not leave the country so he sold it to him for around ?15,000 and quite pleased reported this on one of the Cooper forums only to find from another member that the car was now for sale with a specialist dealer at ?28,000 and indeed when we checked it had been sold. I feel really sorry for the chap as he has in my opinion been cheated by someone misrepresenting who they were and what their intentions were :twisted:

My advice is always double check everything with the forum (this out of all the forums I am in is by far the best with friendly like minded folk going out of their way to help) but beware of dealers who scour the forums looking for bargains from well meaning enthusiasts. Sorry Steve to put a dampener on your good intentions but the car looks a lovely example and you should get the best value you can from it :D

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PostPost by: AlfaLofa » Fri Apr 01, 2011 7:37 am

Mark and Mike - thanks for your responses.

I have taken Mark's advice and been in touch with Paul Matty Sports Cars who have lodged an interest in selling on the car for me. (I hope to know more next week).

I must admit, I wouldn't have thought of selling the car this way if it were not for Mark's advice.

I am sure they will get more for the car than the ?399 I paid 38years ago!

If I can get an agreement with Paul Matty, they will hopefully service the car and do whatever is necessary to restore the car to its full glory before putting it up for sale - i.e. do something about the bowed original bonnet and re-spray the car to get rid of the blemishes obtained in the 10years since the restoration. Also a good valet wouldn't go amiss.

As said previously the Elan is very original. The only non-mechanical parts which I can think of which are not of original spec are the arm rests on the doors (the fluted material wasn't available at the time of restoration) and a non oiled-teak dash (It has a polished veneered dash which was bought from London Lotus Centre in Chiswell Green - so was a genuine S1 Lotus part in Lotus wrapping). Also the dash fixing bolts are chromed. Everything else bar the carpets is original.

Mechanical non-original spec parts include larger front calipers, stainless exhaust, Tony Thompson rad & swirl pot and the modified cams (if they are still fitted). Otherwise everything is as it should be.

Hopefully I'll have more news next week.
Last edited by AlfaLofa on Sat Apr 02, 2011 7:21 am, edited 1 time in total.
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PostPost by: Bill » Fri Apr 01, 2011 7:08 pm

Steve, Mark, Gents
I have 26/0538 built in winter 63/64. I purchased it factory direct and had it shipped by sea to Vancouver Canada. There were no North America dealers at the time. Like Steves car it is complete and original (the oiled teak dash is still there - refurbished) but fore SS exhaust, jap starter, tires and paint, Pertroics ignition, larger front disks and calipers (that was an S2 change) - I added the factory stage 2 cam kit and hard top when they became available in mid 1964. As well, I have the original factory bills of sale, S1 maintenance manual, parts book and all the bits, pieces and paper work from shipping and packaging. The original cost was 1210 pounds with all accessories (radio, tonneau and radial tires) ay the time.
I restored it totally in the mid 90's and did another respray after a front end shunt repair 2 years ago. I have kept a complete log since I purchase it 48 years ago. I turned 50k original miles last year (Vancouver Island is pretty small, relatively speaking)
With the above provenance, anybody able to offer another value opinion on a one owner?
I also have a '65 S2 disassembled - it as well is original and complete - I was going to restore it but now I am considering selling it - my time is marching on!


Thanks guys - Bill
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PostPost by: stovekjj » Fri Apr 01, 2011 10:49 pm

I understand your regrets on parting, as I also feel that I am a care-taker for an aging elan.. my 67 S3 DHC is well.. original and un-restored, which has brought comments as it is a 'diamond in the rough'.. particularly the interior and somewhat tired engine.. and original frame AND wiring...

so the tach stops at 4k after the petronix upgrade.. and the CVs whine a bit...

But, having owned her since 1981 and using it as a daily driver for the last three years I am loath to part with her.. My wife and dog refuse to ride along, so I may soon be in your boat...
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PostPost by: 1964 S1 » Sat Apr 02, 2011 2:31 am

This is the first thread I've read, dealing with a topic that's rushing at this site head on...
Us old guys selling or giving our Elans away.
Maybe we can talk Jeff into providing our own catagory as this subject becomes more relevant and therapy is needed.
My advice on April 1, 2011 is no joke, keep the Elans as long as you can,,,, they're only going UP in resale prices.
If the time really has come to sell it and a Reputable agent is available, I'd negotiate a % contract and let them determine what an original S1 is worth today.
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PostPost by: Bill » Sat Apr 02, 2011 3:00 am

Or it will be my coffin.

Bill
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PostPost by: jimj » Sat Apr 02, 2011 9:19 am

If the car needs paint, which is very expensive, and Paul Matty needs a margin, it may be worth selling at auction as it is. In recent years the market has polarised into immaculate, good as new cars and rarer original cars reaching really top money. Middle of the road stuff doesn`t. At least you get the real worth on the day and I think an S1 at auction would attract media attention and a lot of interest.
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PostPost by: paddy » Sat Apr 02, 2011 2:48 pm

There was an S1 auctioned by Bonhams at last year's Revival:

http://www.bonhams.com/cgi-bin/public.s ... leNo=18216

339 1964 Lotus Elan Competition Roadster Chassis no. 18-26/3762 Engine no. 116E6A26B ?26,450

I don't know what the spec was - it was very nice condition but it was neither original nor a full GTS-spec race car by the looks of it.

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PostPost by: elj221c » Sun Apr 03, 2011 11:14 pm

Steve, (AlfaLofa)

What a dilema!

Is there no one you could pass the car on to? Family? Very good Lotus friend/s?

No disrespect to the traders, but they will take their pound of flesh!

It's especially critical since an S1 or S2 is fodder for the racers.

That's probably all mine is good for but yours is much better than that!

Perhaps keep hold of it for now and pass it on in your will? Even if you can't drive it you can still look and remember!

There are no guarantees of course but an advert in the Club Lotus News might get the result you may like without the dealer cut.

Hopefully my daughter will take over my car. (She has expressed interest) I do have to get it road worthy first, though!

Roy
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PostPost by: toomspj » Thu Apr 07, 2011 3:21 pm

Where is it again - I'm looking for another 26 to race!

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PostPost by: AlfaLofa » Sun Apr 10, 2011 3:52 pm

He doesn't know it yet - but I've decided to give the car to my Brother-in-Law.

Before I married his sister, I used to take him (as a 10 year old) for blasts in the Elan.

Unfortunately - he used to then go and tell his Mother (i.e. my future Mother-in-Law) how much he enjoyed being driven at 100mph.

I didn't want to disillusion him - but you know what it feels like with the top down and your backside 6 inches off the ground. 60 feels like a 100.

I need to make sure he has garage space.

If he has and if he promises to look after the car he can have it. Hopefully he will then pass it on to his son.

At least this way the car won't end up with a bonehead - and it stays in the family (sort of).
Last edited by AlfaLofa on Sun Apr 10, 2011 5:22 pm, edited 2 times in total.
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PostPost by: Crusty » Sun Apr 10, 2011 4:39 pm

Nice touch your an old romantic
-~------~-----~------~------~-
>.....ELAN 1969 S4 SE COUPE.....<
>...SEE YOU ON THE FLIP SIDE...<
-~------~-----~------~------~-
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PostPost by: trw99 » Sun Apr 10, 2011 5:48 pm

What a grand decision! Well done Steve, I applaud you.

Tim
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