90k Elan

[types26/36]

Have prices REALLY reached this level .... for a "Historic " race car?
http://cgi.ebay.co.uk/ws/eBayISAPI.dll? ... SS:GB:1123

[cliveyboy]

I remember a 26R that had won a few championships advertised for ?85,000 a few years ago.
Dont know if it sold for that price.
Clive

[CBUEB1771]

Hmmm, "26R body work" including the FHC and Stromberg bonnet. I don't think the investment made in this rebuild will be recovered easily.

[cliveyboy]

It would appear a lot of money.
I wonder if I took my FHC Sprint and fitted lots of Tony Thompsons parts on it how it would be different and how much cheaper than ?90K.
Its certainly a nice car with a lot of expensive parts on it.
Clive

[rodlittle]

I was talking to Miles(Wilkins) the other day and he reckoned that my very early S1 would be worth 60-70K when finished !
I was gob smacked
rod

[Ross Robbins]

Relax guys,

In order to ask that kind of money you need to have the

ALL STELL TWIN CAM,

[types26/36]

I've seen cars being offered for big money but do they actually sell? I dont know what "history" this car has but essentially its a modified S3 so not a Lotus sanctioned race car as a 26R would be, I wonder if it has historical interest to command the high price.....maybe ACBC sat in it I know which I would rather have between that car and a Genuine 26R......
Even this car is only 55K and it does have some historical interest......
http://www.ebay.co.uk/itm/1971-Lotus-El ... 4abb5500ee

[Bob]

If its not a 26R I would think someone has spent to much money, and wants to recoup it.
Bob

[Roy Gillett]

And I would want more than the 97bhp quoted whoever had built the engine!

Roy

[ricarbo]

and i thought 90 k referred to the mileage! which i thought impressive.
regards
richard

[gordont]

hey personally I think it would be good for all of us if it gets this price ....

[Maulden7]

Anybody who has undertaken a full restoration knows that you are very unlikely to see the money spent back into the value of the end result for many years, if at all (even if you do loads of the work yourself)

Elan values have soared in the last couple of years, & some of the Lotus marque "experts" are trying to talk prices up even further!

My own S2 Elan was valued at ?16k (for insurance purposes) two years ago, & I have just been shocked to receive a new valuation figure (done by the same source) of ?30k. Now that isn't a market value of course, but it does provide some idea of how prices have moved generally.

Try to find a genuine 26R for less than ?120k (will be in need of some work) & this would probably make an S1/2 Elan newly built to 26R spec (however you define that) worth circa ?70/?80K?

The mistake these guys have made, if any, is to use a 36 ID at which to throw shed loads of money. This will never be worth what a 26 ID car with the same work done should be imo.

However, you can't blame them for trying, if you don't ask you don't get!

[trw99]

This is an Appendix K race car. It is most likely to appeal to someone looking for a car to race at Appendix K events.

We should not compare apples with pears. This car is far removed from our roadgoing Elans. For price comparisons, Sergei, we should be seeing what other Appendix K race cars go for.

Tim

PS Current prices advertised for Elans do not represent what they are worth, as we know. It's what the car eventually sells for that gives it value. In this market I know there to be a large difference between the two. Of the six Sprints listed on Pistonheads at the moment, five have been there for many months. The laws of supply and demand apply.

[rgh0]

You start with an Elan in decent condition for $30k to $40k and you modify it for historic racing and you will spend another $30k or $50k depending on exactly what you do and who does it. So around $80k is a reasonable price for a completed competition prepared car. 90k pounds is at the high end but I guess it leaves some negotiating room in terms of an asking price.

I guess being able to step into a prepared and properly setup car without all the development hassles is also worth something if your aim is just to race and you are not interested in the rebuild and development side of racing an Elan.

But as others have said if I was doing it to make money I would have started with a S1 or S2 car as the end result would be worth a little more in terms of what events you can run it in I think in the Uk and Europe

cheers
Rohan

[simonknee]

Out of interest I looked up what Appendix K meant. The official documentation is somewhat impenetrable. It seems to talk about original homologated cars from the period and also cars that have been constructed so as to be at the same spec as those original cars. Is that right and what actually is Appendix K?