Lotus Elan

DHC Elan Sprint For Sale

PostPost by: terryp » Thu Dec 08, 2011 1:15 pm

If what everyone is saying above is correct, why are Lesters buying cars and "fully restoring" them and selling for 30 to 40K? Surely to make any money they should be selling at 60 to 70K or putting their money into vintage watches or something!

Terry
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PostPost by: trw99 » Thu Dec 08, 2011 1:31 pm

But they're not selling them Terry!

I noticed that Lesters has changed their web site, it is now only three pages and their stock is in single figures; probably finding life tough like a lot of us.

There is a difference between the theoretical cost of restoration and the actual. If a firm like Lesters buys in a project car for ?10k, restores it and then advertises it at ?40k, the ?30k (and I'm making these figures round!) will have covered the parts, say another ?10k. They have not had to charge themselves for their time, so they will view the rest as margin - and thus probably accept around ?35k for the car to bank ?15k.

Of course, if they did cost out their time, they probably would charge ?60k! However, the laws of supply and demand apply, so who would fork out ?60k when they know they could pick up a good car for say ?30k? And it's all very different when we as punters go along and pay for the restoration ourselves, when we do end up paying for time ... and skill and parts and the car in the first place!

Tim
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PostPost by: terryp » Thu Dec 08, 2011 1:43 pm

Tim
But this is the bit that I can't understand. Its OK for someone who wants their car to be restored to pay top money to have it restored.
But why would a company restore a car to sell. They would be better buying good cars and just fettling a bit. Lester's have seemed to have bought total restoration projects?
Perhaps they have the little man working at ?12/hr :wink:

Terry
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PostPost by: trw99 » Thu Dec 08, 2011 2:39 pm

May be it's just the man himself? Subs out what he needs to?

He looks in here occasionally so maybe he can enlighten us on the pleasures and perils of being a classic car restorer/dealer.

Tim
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PostPost by: Elanintheforest » Thu Dec 08, 2011 6:28 pm

Terry, some do have men working at ?12 an hour....employees. If customer work dries up or there's all bodywork / no mechaniccal work etc., then an 'internal' project can be worked on to keep folks busy, and eventually earn a buck.

Mark
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PostPost by: Mazzini » Thu Dec 08, 2011 10:02 pm

I reckon if these 'restored to better than new' cars were almost as good as a Daytune restoration, they just might sell at the prices being asked.

The DLF car is very good, but there are a few things on it that irk, but it's almost there, it looks in the photos at least to be the best professionally restored car that I've seen in awhile.
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PostPost by: holywood3645 » Thu Dec 08, 2011 11:33 pm

From the www and pretty well said.

What Determines the Classic Car Value of a Vehicle?

"The most common leaders in the setting of classic car value and pricing information are price guides, auctions, industry professionals, and banks.

It's hard to overestimate the effect that the industry price guides have on the classic car value. Most collectors use one or more of these guides as the starting point in determining how much a car is worth in the marketplace. The classic car price guide offers an approximation of how much a certain car model is worth at a particular point in time. And it's a mistake to look at their valuations as more than approximations because not all cars of the same make and model are of the same quality. Some will have been restored professionally and others may have had little or no restoration work done.

Probably the factor that has the most immediate effect on the value of a classic car is it's auction price. As those who frequent eBay are aware, the bidding usually begins with a relatively modest price. Depending on the interest is the particular car model, the price is bid up until it reaches the highest amount that someone is willing to pay for it. The biggest "blue book" producers take this into account when evaluating the classic car value for that particular model. Even a no-bid scenario is noted as it usually indicates that there is not much interest in that particular car model and the value will be lowered accordingly.

We are in the middle of the celebrity worship era. No matter the make or model of a classic car, if a well known celebrity has owned that car, it's value is increased. Other factors still matter, of course, but the fact remains that a classic car previously owned by Jay Leno, for example, is going to fetch more than the exact same car in the exact same condition owned by Jay Smith."

At the end of the day it?s a buyer and a seller that decide what the value of an elan. We can throw this around all we want and it?s not going to change the ways of capitalism and the free market. Its great that we can still say, If you?re a 'Cheap Bastard' or 'Loads of Money' or like most of us 'Somewhere in Between' there is a car out there for you... just bring your wallet, and let it do your talking.

we should have a pole.... :shock: how do you think it would turn out?
CB.... ? %
LOM... ? %
SIB... ? %

THE END

James :D
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PostPost by: casalunge » Sat Dec 10, 2011 10:40 am

And I trust everyone sells their houses for what they paid for them 15 years ago :D
1960 Lotus 18 FJ
1962 Lotus 22 FJ
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PostPost by: trw99 » Sat Dec 10, 2011 3:13 pm

Mmmm! However, the underlying principle applies to the classic car market, the housing market and every other market - the law of supply and demand.

Of course, in financial services fear and greed have a large part to play too!

Tim
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PostPost by: RichardS » Sun Dec 11, 2011 8:10 pm

trw99 wrote:1 owner and less than 15k miles with all the right bits. Only fault I could see from a quick look were very minor - rear gold decals too high and lack of rimbellishers, both easily fixed.
Tim


My Sprint has black plastic washer jets (which I think are original) rather than the shiny chrome ones on this car. But as others have said, looks a very nice FHC Sprint, and good to see another FHC seeing the light of day.

Richard
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PostPost by: elanfan1 » Mon Dec 12, 2011 11:12 am

Richard - are your jets like these? - if so a bit Hen's teeth thesedays!
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PostPost by: trw99 » Mon Dec 12, 2011 12:27 pm

The black plastic type were fitted to the S4 onwards, though I have not seen a change over date for them. They are the same as the old Mini so should still be around in the breakers yards with luck.

Tim
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PostPost by: mark030358 » Sun Dec 25, 2011 10:09 pm

Interesting post this. I have restored two Europas and am continuing to restore an S4. My attitude is that I don't really care what it costs as most of the effort is mine. This excludes body and engine machining. What I care about is that the car ends up in my eyes "as it should be".

My Sprint is, and hopefully the S4 will be top cars, having been well kept and restored respectivley. As for ?37K for a Sprint, long may it continue, as if you have a really nice example then why not be comparible with Healy's Jag's et al.

Finally restoration/car purchase is personal choice. I wouldn't buy a fixed head and cut the top off and call it a DHC Sprint (funny but someone tried to sell me one once... long story) and neither would I replace a Stromberg head with a Weber one. However I would uprate the engine, suspension and brakes... its a personal thing.

Merry Xmas to all on the forum.. keep up the great posts and thanks for all the help this year..

Mark
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