Lotus Elan

Advice re Elan plus 2 please!!!

PostPost by: jinxy1608 » Sun Sep 23, 2012 6:33 pm

This is my first time on so hello to one and all. Ive always had a soft spot for the Lotus Marque since owning a blue Lotus Eclat 521 in the early nineties. The fact is I have been offered a Yellow Lotus Elan plus 2 originally registered in 1968. This car was reversed into a dry garage ten years ago and hasnt seen the light of day since. Its owner has recently passed away unfortunately. the car is utterly complete and appears original with about 50,000 recorded miles. The body appears good with no apparent fractures. From what i can see the car appears to be on its original chassis though the condition of the chassis is unknown. The car was owned by an engineer so it would probably have been cared for. the paintwork is good as is the brightwork, original wheels and spinners. The engine has not been started since it was parked.

Does anyone have any guidance for me as to what would be a fair price to give. This is not a money making exercise. the car is to restored and kept by me (once I have finished restoring the 1967 Triumph Trophy that I am halfway through doing).
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PostPost by: Matt Elan » Sun Sep 23, 2012 7:11 pm

Welcome Jinxy
The plus 2 sunds like a gem; looking at the market I would say a complete car needing work and recommisioning seems to go from around ?3000 but one with a good body, chassis and paint, but again needing recommisioning probably is around ?4000 to 5000. Good runners go for ?5000 upwards, and very good ones seems to be anywhere between ?8000 upwards.
But a new chassis is now around ?2K plus the time and effort to replace it, so adjust the price to suit; and if the car still has its original chassis then it will probably need attention by now.
The 67 Trophy sounds nice - I restored a 1970 T120R (pre oif) a few years ago and its still the nicest bike I've had (and I still own and ride it :D )
Matt
Matthew Vale - Classic Motoring Author
1968 Plus 2 - Somewhat cosmetically and mechanically modified
1969 Plus 2S - Currently undergoing nut and bolt restoration
Visit me on matthewvale.com
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PostPost by: kstrutt11 » Sun Sep 23, 2012 7:19 pm

Difficult to price it really, they range from a around 2 k for a wreck which is complete to 12k + for really good ones. If the engine turns over, chassis is not rusty and it does not require major body or trim work, I would be thinking around 4 or 5 K. Even if you have to rebuild the engine you shoud not lose out.
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PostPost by: Jason1 » Sun Sep 23, 2012 7:36 pm

Hi and welcome

Have a look at this post:

elan-plus-f13/prices-will-they-soon-over-the-20k-mark-t22880-60.html

This should give you a good idea of prices.

If you can find a complete +2 with engine under ?3000 you should snap the sellers arm off.

Are you in the US or UK?

Jason
50/0951 1968 Wedgewood blue +2, 1990 Mini Cooper RSP
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PostPost by: alaric » Sun Sep 23, 2012 9:41 pm

Hi. Sounds like a good find. Sad circumstances but if it goes to a good home... Re price I would expect a good runner at around ?7k, one that's been standing to need an engine rebuild and all brakes plus servo and master cylinders to need restoration before going on the road. So probably around ?3.5k to ?4k ish. Depends on the bodywork but I'm assuming it's looking ok but tired on close inspection.

Sean.
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PostPost by: JJDraper » Mon Sep 24, 2012 6:08 am

The key factor that affects +2 values is paintwork, then chassis, then engine - although the last two could be the other way round! Be very critical of paintwork, as the most common fault is micro blistering - small bubbles in the paintwork. Producing a good quality paintjob is very expensive in either cash or your own labour - ?6-7k is not unusual. Do not apply steel car respray costs. If the car has reasonable paint, then run it as a fun car. A chassis change is cheaper, but you need an inspection to confirm its condition - ?2-3k. Don't forget the sill reinforcing bars - again cash or time - ?1k. Engine - ?3k for a farmed out rebuild. It all adds up, which explains the spread of prices. I think the earlier valuations in this thread are pretty close to the mark.

Sounds like it could be a good find.

Jeremy
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PostPost by: jinxy1608 » Mon Sep 24, 2012 2:51 pm

In answer to the last question i am in the UK. Looking in the engine bay it sports two large twin choke webers. Apparently the boot is full of spares for the car but until I drag it out I will have no idea what they are. Oh yeah, just one more problem. I have nowhere to put it. Does anyone have a dry secure garage to rent in the Wakefield area?
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PostPost by: tinker » Mon Sep 24, 2012 3:06 pm

Hi Jinxy, I agree pretty much with the posts regarding the cars value. Unfortunately another factor that tends to steer the prices of cars needing work or restoration is the amount of money the +2 breaks for. There seems to be an increasing market for the twincam engine leading to many cars being broken up over recent years, it is not difficult to see how a tired +2 will easily fetch 3 to ?4000 in parts. As for paint work the restoration involved and the cost of it is pretty much the same weather the car looks nice, shiny/ presentable or looks tired. A piece of advice i would give is decide before buying what degree of condition you would be happy with, then you can come to a realistic figure what this would cost to achieve. Seeing you have an on going restoration your obviously no stranger to the time, effort and the expenditure . Good luck with your purchase and i hope you come to an amicably agreeable deal. Tony
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