Valuation Help

[Rob Kilham]

Hi everyone , new to the forum as I have just purchased a pair of Lotus' . I hope you don't mind me starting off with a help request !

I import a few cars a year from the USA , mostly Chevy and Dodge vans , but a month or so ago I got offered a small collection of 4 cars . A 1973 triumph Spitfire , 1974 Lotus Elite , 1978 Lotus Esprit S1 and a 74 Maserati Merak . A friend in California went to view them and I have now bought them . wasn't really sure about the Spitfire and Elite , as they're not really money makers , but the rules were , buy all 4 , or none at all .

So I'm looking to sell the Esprit , and was wondering what you all think it may be worth ?  Its been in California its whole life , so no rust , paint is pretty faded , and a lot of the plastic parts have suffered in the heat . Its a US model , so has SU carbs and horrible bumpers fitted . Engine turns over . The Prices for good S1s seem to have shot up over the last few years , but all I see for sale is nice, or very nice ones , seldom projects , so its hard to gauge . 

The Elite , I'm actually thinking about keeping as Ive always liked them , but still curious as to what you think it may be worth ? 

I am flying over there in a few weeks , to do a bit of work on them , hopefully get them running . But I will be selling the Esprit as a project , assuming it runs , it will still need plenty of recommissioning . I will post more info as I receive it , and will post more pics when I see them for the first time .  Both cars are LHD , so it may be better to sell them in the US , as shipping them over will add £2k to each one . 

Thanks in advance , and if anyone is currently looking for an Esprit , feel free to message me . Cheers , Rob

 

[silverfrost]

Good luck on the cars,  the elite will not go for much, even more so over in the UK been a left hooker sadly but if you plan to keep then that is a different story.  You must have very good shipping rates lol..  The esprit should be easy to shift though, hard to tell price wise , as projects are a different kettle of fish to put a value on.  

I think the Merak will be your best money earner as they are fetching extemely strong money at the moment,  one went last year, body was very poor, just a bare shell with dront end collision damage and a pile of bits in a box, iirc it went for 8 or 9k 

Good luck with the sales and projects and please keep us posted 

 

[Bibs]

@Tony K may be able to assist with the Esprit, no-one know the market better than he does in the USA.

[Tony K]

Welcome, Rob!     I may be able to help you with the S1.    Please message me when you have the chance.   

Thanks for the kind words, Bibs!    

 

[TpupNomad]

Been looking for an S1.  Let me know how much you want for it.

Thanks

Roy

[Rob Kilham]

Thanks for the replies everyone . o was unsure how desirable a LHD S1 would be over here . 

Tony , I've messaged you , Roy , Tony was first . but difficult to say how much I want until I've seen it and can properly asses it . 

 

Cheers , Rob

[Ekku]

Lhd esprit would be highly desirable In mainland Europe...

 

[Rob Kilham]

Hi everyone .

 

Here's a couple of pictures of the S1 being moved , and the Merak now safely in my friend's garage .  they had sat for a long time but rolled nice and easily . 

As you can see the big US spec front bumper on the S1 has fallen off . 

Dies anyone know where I can get a US spec or euro one ? 

 

Thanks , Rob

[Barrykearley]

@johnpwalsh any idea on bumpers ?

[TAR]

SJ Sportscars do both the UK and USA spec front bumpers. https://www.sjsportscars.com/home.htm

 

[Rob Kilham]

Thanks a lot !!  

Who knows what car the ignition switches are from for the esprit and elite ?  The cars I bought have no keys , so I'll need to replace them , I'm guessing I'll need the whole steering lock and switch ....? 

 

Thanks , Rob

[johnpwalsh]

8 hours ago, Barrykearley said:

@johnpwalsh any idea on bumpers ?

Can have a look at SJ prices online. Pricewise. The Esprit is probably worth between 10 and 13k USD going by what I know has been paid for current running restoration projects.

 

[Rob Kilham]

1 hour ago, johnpwalsh said:

Can have a look at SJ prices online. Pricewise. The Esprit is probably worth between 10 and 13k USD going by what I know has been paid for current running restoration projects.

 

I have looked at prices, but to be honest I haven't come across many projects, so found this one hard to price. 

What about if I sold it as found? As in, non running. 8k - 10k US? 

Thanks for your input! Rob

[Rob Kilham]

On 24/01/2019 at 07:18, Tony K said:

Welcome, Rob!     I may be able to help you with the S1.    Please message me when you have the chance.   

Thanks for the kind words, Bibs!    

 

Messaged you Tony , but not sure if you got it or not , cheers , Rob

[johnpwalsh]

2 hours ago, Rob Kilham said:

I have looked at prices, but to be honest I haven't come across many projects, so found this one hard to price. 

What about if I sold it as found? As in, non running. 8k - 10k US? 

Thanks for your input! Rob

Rob, hard to put a price on a none runner as condition would be totally unknown and as such the value would drop way down, she would possibly then only be considered as a parts car. If the engine were turning over and compression checks were carried out, that at least would be something.

[Jeanvm]

Mechanical condition is not that important. The important thing is that the car is complete. You know with these photos that there is a lot of work to do anyway. I believe 10K is way too much.

[Ginger pig]

Ebay auction it in March - April..... people come out of winter hibernation; looking for a project.

[gvy]

Value wise in Europe ( Belgium in my case ) I see some drawbacks on this one. On first view: 

Any owner will want to have the euro spec bumpers and in the rear that means also changing the valance. In front You need the right blinker lights to.

Most owners over here will prefer the dellorto carbs instead of the strombergs and that means also changing inlet manifold.

Most Esprit S1 owners will want to have the original wolfrace wheels to restore the real value of an S1 esprit.

This US car has the numberplate cut out in the back for US cars ( eurospec numberplate will not fit )

These are all things than can be taken care of, but they add up significantly to the restoration budget.

It is a california car, so with a little luck , chassis will be OK or better than most european or english esprit S1 and S2

Geert

[Rob Kilham]

Thanks for everyone's replies, much appreciated. 

I'm thinking the best thing would be to offer it for sale in the US. Its a US spec car, so makes sense, and bringing it to the UK will only add to my costs. 

So if anybody in the US is after a esprit project, message me. I understand I needs a lot of work, but it's a good solid base for restoration. Open to offers.. 

Thanks a lot, Rob 

[TpupNomad]

Bought them both. This should be interesting.   👀

[silverfrost]

Fantastic news Roy       Now hurry up and get a project thread started,  like buying two pups,  they get to stay together 

     

[Rob Kilham]

Thanks a lot Roy, I hope you enjoy them. 

Looks like I won't be building the Elite for myself after all. Oh well I'll just have put put the money into one of my other projects! 

Thanks a lot, Rob 

[Jeanvm]

16 hours ago, TpupNomad said:

Bought them both. This should be interesting.   👀

Roy, have fun but it will take some time to get it like this:

https://rmsothebys.com/en/auctions/az19/arizona/lots/r0099-1977-lotus-esprit-series-1/732254

But it is worth every penny.