Disclosure: This site may receive compensation from some link clicks and purchases.
The purchase of an unfinished project car can be risky. Parts may have gone missing so it is hard to know what all is included in the sale. Plus, without previous experience or some very detailed shop manuals, reassembly could be extremely difficult. For this very reason, some projects are never finished, even by the very people who took them apart in the first place. This 1972 Lotus Elan represents that very conundrum. The frame has been gone through, the engine rebuilt, and the body stripped, but could you justify the $12k price tag with so many unknowns? Take a closer look here on eBay and decide for yourself. Thanks goes to Jim S. for the tip!
I’m surprised no one has commented on this one. That first photo and the asking price probably speople everyone before they look at the rest of the photos. I assumed it was priced too high, but then I looked at all the work that has already be completed on the frame and engine. It’s not a killer deal, but looks like a very good start to me. Guess I’m alone on that though….
I am a bit surprised about the lack of comment too. This car has been offered for sale a few time over the last few years, I saw it advertised a couple of years ago when i was looking for mine.
12k$ isn’t cheap but I think it is fair to decent price for what is included. A (assembled) Lotus Twin cam in that quality would cost a very large percentage of the asking price.
I’d guess that currently it’s a 25k to 30K$ car all finished up to a high standard. To get there you probably looking an expensive paint job 8k+ then all the other bits and pieces (e.g. carbs). That’s assuming there aren’t significant missing bits.
So it is probably a break even kind of project. But at the end you’d have have a very nice car. Personally i think +2 prices will raise a bit over the next few years so might be a small profit in it by the time it’s actually finished.
The good news is there very good parts books and service manuals around for these. Also very good forum with some very knowledgeable people on it that will help you get the jigsaw back together correctly.
$12k is a lot, but there is the option to make an offer. If it’s been on the market that long they might accept considerably less. You will still have to really want a +2 to take it on though.
12k$ is a lot of money but I reckon significantly less than the sum of what is on offer here. There looks to be quite a few choice parts included with this package. Unless the seller has time pressures I can’t help but think there is limited scope for an offer. The seller has a serious amount of money invested and understandably wants to re-coupe a reasonable amount of it. As prices for these climb he stands a better and better chance of getting the asking price if he waits.
I think it’s safe to say when buying any car in boxes you really must want it and a project what ever the car is! Personally I think this could be relatively straight forward and enjoyable project. Finish the body prep, get it painted and put it back together.
Easier said than done but at least you won’t be spending months finding and fixing rust issues. Which is good for those of use who can’t weld.