Lotus Elan

?55k Sprint

PostPost by: MarkDa » Wed Aug 02, 2017 2:22 pm

A nice looking car sold over the weekend ?47,250 + 15% buyers premium.

http://www.silverstoneauctions.com/1970 ... sprint-dhc

Must get mine polished up!
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PostPost by: mark030358 » Wed Aug 02, 2017 3:15 pm

Sprint or S4 Sprint? June 1970... I'd be interested to know..

thanks
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PostPost by: types26/36 » Wed Aug 02, 2017 3:43 pm

mark030358 wrote:Sprint or S4 Sprint? June 1970... I'd be interested to know..thanks


From the blurb.....
"According to its accompanying Lotus Certificate of Vehicle Provenance, the car presented here was only the 8th example of an S4 to be factory-converted to Sprint specification. It was built in June 1970, receiving its upgrade shortly after, before being sold through Hammonds & Oakwood Ltd. of Beckenham. In the car?s history file, there is its original green VE.60 Registration Book plus a letter from the Lotus Archive Department, which combine to tell us it was bought by a Mr E Watters of Penshurst on the 6th April 1971, being first registered on the 22nd April 1971. The car is believed to have been enjoyed by only one more owner, before being acquired in circa 1996 by a senior Lotus technician at renowned Lotus specialists Paul Matty Sports Cars. During the next 18 years of his ownership, the car was used regularly but maintained to a very good standard." ........ :wink:
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PostPost by: Grizzly » Wed Aug 02, 2017 4:55 pm

What i find interesting is i was under the impression all the Lotus paperwork was lost/destroyed for that period? I guess not......


Nice to see the S4-Sprints are worth the same as a Production line Sprint 8) Wounder why the Technician didn't sell his car through Paul Matty?
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PostPost by: deryck » Wed Aug 02, 2017 5:33 pm

hi
the same car is being advertised on car and classic for 54950.00 by a dealer
no much profit in that!

I visited the auction as I was interested in a low mileage Elise MK1 which had obviously been on track for most of its 1600 miles. it was advertised as new, absolute complete waste of twenty quid and a afternoon, stone chips all over and bald rear tyres.
the elan was nice but not 50k plus
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PostPost by: elansprint71 » Wed Aug 02, 2017 7:27 pm

Don't we all wish we had bought early 911's when we bought our Elans 15-20 years ago?!!! :twisted:

I know they are made of tin and rust like a bastard but, even allowing for a costly restoration ten years ago- have you seen the six-figure (UK) prices they are achieving now? I'd like someone to explain that to me.

I know most of us on here are not in it for money but...just think how many Elans one could have bought with the profit!

My other big regret is not having bought another plastic car 20 years ago, when a good one could be had for a grand- Citroen Mehari... as much fun to drive (really) as an Elan but you have your accident at 35 miles an hour, not 90 mph!
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PostPost by: mark030358 » Wed Aug 02, 2017 10:10 pm

Thanks Brian,
I only looked at the pics as the blurb is usually that blurb....

Cheers
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PostPost by: MarkDa » Wed Aug 02, 2017 11:07 pm

Probably not that much profit for the seller either if really did spend ?30K on restoration with 5% commission and entry fee shaving another ?2.5K off.
If the PM Tech did as.good a maintenance job as described it would surely have been worth more than ?15k in 2014?
Madness all round?
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PostPost by: MarkDa » Wed Aug 02, 2017 11:26 pm

The car was sold by PM in 2014 apparently.
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PostPost by: reb53 » Thu Aug 03, 2017 6:38 am

Grizzly wrote:

Nice to see the S4-Sprints are worth the same as a Production line Sprint


Being rarer, shouldn't they be worth more.....? :)
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PostPost by: jimj » Thu Aug 03, 2017 8:23 am

A misconception: It sold for ?47,250, that`s a final bid of ?41,500 plus the 15% commission inc. VAT. I think they charge the seller 10% so he would get ?37,350.
The dealer probably hopes to get, say, ?52K earning himself 10% profit on return, gross.
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PostPost by: Grizzly » Thu Aug 03, 2017 9:34 am

That makes more sense.......
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PostPost by: MarkDa » Thu Aug 03, 2017 9:39 am

Thanks Jim, I stand corrected and that explains the current dealer price at which he stands to make a few grand.

However the restorer's position looks even shakier with 5% commission and entry fee dropping the net income to 39k with. 30k spent on a car that I'd be surprised if PM sold for less than ?9k in 2014.

Anyway what we see on Car and Classic are several cars in mid 50s - which is very nice if you have a top notch car that you want to sell rather than enjoy yourself.
I'm driving mine!
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PostPost by: jeff jackson » Fri Aug 04, 2017 11:09 am

Have a look at the Brooklands Capri sold at auction near me.
Justified?
https://www.swva.co.uk/auction-category ... ount=23419

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PostPost by: Grizzly » Fri Aug 04, 2017 11:53 am

Frankly thats about right for a 280 Capri. I've seen 4 or 5 sell over the last year for 20-30k, they have quite a large following so tend to go for good money.

This one was Good condition but not outstanding Sold for ?21840.00 https://www.handh.co.uk/buy/1987-ford-c ... ands/13537
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