Lotus Elan

Should we as owners try to set sensible +2 Prices

PostPost by: JimE » Thu Mar 11, 2021 3:17 pm

jasper2347 wrote:We buy, sell and restore classics for a living. I've always said a car is worth what someone will pay for it at the time of sale. Restoration cost are sometimes a hole you can't dig yourself out of, once you start, you have two choices. Go forward or sell the project. We try to get through to potential customers the costs involved with body resto's. Some people don't realise how long it takes or what is involved to do a proper job. Mechanical work is easier to estimate, so I always recommend potential buyer to look for a good car bodily, or at least one they are happy to look at. I don't see any +2 being worth north of 20k, but classics are out of control at the moment, caused I think by all these TV shows that restore a basket case in and hour episode. Prices I think are in for a fall shortly, as they did a few years ago. Let's wait and see. :D

Tell that to Paul Matty and UK Sportscars. They both have +2s for sale at £38k and £40k respectively.
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PostPost by: jasper2347 » Thu Mar 11, 2021 3:44 pm

Best of luck to them. They might find a lottery winner? The 40k one is just about four times what I was offered for my mint '73 with 78k miles last year. Needless to say it's asleep in the garage waiting for better weather. :D
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PostPost by: jono » Thu Mar 11, 2021 4:54 pm

I know of many Plus 2's which brought significantly more than 20k, including my own
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PostPost by: jasper2347 » Thu Mar 11, 2021 9:37 pm

Might try mine again if we ever get out of lockdown. The only interested parties in mine were the traders. They were going to sell at 16-18 and were offering 10-12. We were asking what they said was retail for them. No private buyer enquiries at all except some idiot from France offering 9000 euros. Seen them wanting full resto for more than that. Did have a blast round the industrial estate before parking it up. So much fun I might just keep it anyway? Probably keep the hillclimb +2 as well as we have only had daft four figure offers for that. Not desperate for the parking space or the money. Be nice to have a bit of fun this year though.
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PostPost by: kwhittle » Sat Apr 03, 2021 10:44 am

Well, I have read all the posts, and still belive it's up to owners to set the selling price.
Compare the +2 to the E type 2+2.

When new they were only £100 apart in selling price.
Which do you think is the better car ?

So why the great difference in prices, would it be because the owners have more self belief in their cars. is it the differing cost of restoration.

Either way, Jaguar owners know the value of their cars and will not sell cheaply.
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PostPost by: jasper2347 » Sat Apr 03, 2021 1:33 pm

Agree totally Kevin, that's why I still have mine. Had a ride short out in it today, the fun factor is still there. smiling all the way. cheers, Rob
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PostPost by: Slowtus » Sat Apr 03, 2021 5:11 pm

kwhittle wrote:Well, I have read all the posts, and still belive it's up to owners to set the selling price.



You can set the ASKING price but you have rely on the market to decide whether that becomes the selling price.

Anyway, the bias here is such that, by definition, everyone selling would like the highest possible price...

Market decides.
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PostPost by: steveh » Sat Apr 03, 2021 9:16 pm

Personally other than the £100 when new i don't feel a direct comparison between the 2+2 E type and the lotus+2 , they are very different cars in many respects. The Jaguar is very refined with high quality engineering in every component , a different driving experience. Quoted as under priced when new , maybe the Lotus was over priced by comparison ?.
Condition aside values between the 2 are more variable on behalf of the Jaguar, from the highest S1 4.2 manual rhd then reducing with auto, twin strombergs Vs 3x SU , lhd , V12 engine ,Series 1,2,3, - sunroof -- not all 2+2 e types are high value.

I also think that P Matty is good guide for the UK --minus 10-15% for a private sale , a competent owner who knows their car thoroughly are right to be able to set a price accordingly , elsewhere this falls down with deluded sellers and deluded buyers with apposing expectations.
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PostPost by: alan.barker » Tue Apr 06, 2021 6:06 am

If a +2 was the same price as a Jag type E you wouldn't have one. Because it would be far too expensive and out of the budget of most.
Surely it's better if they stay cheap then more people can afford one and have fun.
A poor man's E type.
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PostPost by: SwissBlue » Tue Apr 06, 2021 8:53 am

Slowtus is absolutely the correct.

The market sets the value, driveable +2s seem to range from 16k to 40k, depending on condition and who the seller is (you know who). Based on the amount of fun and excitment I get from my +2S 130/5, they are worth more than any MGB/Triumph... As I'm not selling, I'm quite happy for them to be 'undervalued', should I want to sell (unlikely) I may feel differently
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PostPost by: Bud English » Tue Apr 06, 2021 2:42 pm

A lot depends on your definition of "sensible". I have to agree with Alan's sentiments. Putting your personal effort and money into the car to have, drive, and enjoy for the love of the experience is one thing. That sounds sensible to me. Putting your personal effort and money into the car and expecting to sell it for what you've invested, sounds to me like to opposite of sensible.

A "sensible" person isn't going to pay any more than your car is worth to them, not what the car is worth to you. :wink:
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PostPost by: Slowtus » Tue Apr 06, 2021 5:01 pm

Bud English wrote:A lot depends on your definition of "sensible". I have to agree with Alan's sentiments. Putting your personal effort and money into the car to have, drive, and enjoy for the love of the experience is one thing. That sounds sensible to me. Putting your personal effort and money into the car and expecting to sell it for what you've invested, sounds to me like to opposite of sensible.

A "sensible" person isn't going to pay any more than your car is worth to them, not what the car is worth to you. :wink:


This,
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