Looking for a mint M-100

Elans wanted within North America

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Re: Looking for a mint M-100

Postby lotos » Tue 22.09.2015, 20:38

Ahh, that makes sense. My car has never seen a drop of rain much less salted, snowy roads, and the dry environs of Denver keep the rust at bay in general. I'm hours from the mountains, I suspect few people have sports cars that live in the high altitude areas of Colorado.

Just googled it - Colorado has only used mag chloride for many years anyway, and that doesn't cause any rust. But it's not great for chrome trim if you don't rinse it off promptly.

Well I learned something today. I guess I'll know in the future to keep a close eye on cars I get from anywhere east of me.
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Re: Looking for a mint M-100

Postby tedtaylor » Tue 29.09.2015, 14:14

Lotus38 wrote:I have an autotrader automatic alert for Elans. So I called on that one the same day the ad went live.

Long story short, it belongs to the owner of the dealership and from the tone of the sales rep, it's clear he's a flakey dude. I asked about service history and hi resolution pictures, I didn't ask anything about pricing, and the next day the sales rep called me back to say the dealer already changed his mind and it's no longer for sale.

For all I know, it's probably his wife's car and he listed it to get back at her for rejecting his advances.


I test drove this white Elan about two years ago and wrote about it on this LEC forum. Unfortunately, our moderators "cleaned up" the site of older posts. What a shame, as older posts were an excellent resource for investigating these cars, especially since their limited numbers make tracking their history easier.
When i test drove the car, it did indeed have under 10K miles (i believe now that number has been surpassed), but it was far from mint or perfect. In fact it needed alot of work to bring it up to worthy condition. The convertible top irons tore through the canvas at the critical spots and the clear coat was flaking off the hood extensively. there may have been some other issues (after market radio, etc.), but those two come to mind. Gailen, the owner, is a car collector and he had a $22K price set in stone. if he got it, fine, but if not, he would just continue to own and drive it. Nothing wrong with that thought and i wish him luck (if and when he decides to keep it listed on the market).
Also i'm taken back somewhat by the statement made by lotus38 "Restoring an Elan really doesn't make financial sense to get it to my standards since it's not a collectible"
How can you say the Elan is NOT a collectible, and here you are searching for a mint example for yourself. Obviously you are an enthusiast, collector wanting one for your collection....collectible?? am i missing something here??? :)
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Re: Looking for a mint M-100

Postby tb10 » Tue 29.09.2015, 14:38

tedtaylor wrote: am i missing something here??? :)


I gave up 'looking' a while back.......... :bonk:

Shame really but each to their own.
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Re: Looking for a mint M-100

Postby GeoffSmith » Tue 29.09.2015, 16:13

tedtaylor wrote:Unfortunately, our moderators "cleaned up" the site of older posts. What a shame, as older posts were an excellent resource for investigating these cars, especially since their limited numbers make tracking their history easier.

Pretty sure it's only the thread title/sale status that is being updated by the moderators. It does however look like the posts only go back so far, so maybe there is some autopruning going on. It was an issue a few years ago but the IT boys sorted it - maybe there has been a PHP upgrade that has reset a flag. I'll make enquiries.
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Re: Looking for a mint M-100

Postby GeoffSmith » Tue 29.09.2015, 16:16

Are they in the SOLD section Ted?
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Re: Looking for a mint M-100

Postby tedtaylor » Tue 29.09.2015, 16:35

no Geoff, it never sold (and i looked there too regardless). it was easily 2 years ago, maybe three. That white Elan out of Bridgewater, NJ BMW dealer is well known (at least back then).
The point i was trying to make is that these cars come and go between buyers/sellers over the years, so it's nice to research history here on LEC to support condition, repairs, miles, etc., basically the history of specific cars that show up from time to time.
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Re: Looking for a mint M-100

Postby tedtaylor » Tue 29.09.2015, 16:48

[/quote] It's really the other way around. Some of you guys have inflated views of the value of your car despite many examples of the actual sales value. Ask the guy that just sold his not-so-bad Elan with very low miles for only $8.5K.[/quote]

The key is this. A "not-so-bad" Elan at $9K is still easily $10K to $15K away from a "mint" Elan just by way of needed repairs, parts, labor, etc. to bring it to that upper pristine level. Furthermore, there's a big difference between a "restored" car that was brought back from less than optimum condition as compared to an original, mint, pristine, unmolested example. Give me the later every time, any time. And of course, a premium price tag will be attached! :)
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Re: Looking for a mint M-100

Postby lotos » Tue 29.09.2015, 22:16

tedtaylor wrote:The key is this. A "not-so-bad" Elan at $9K is still easily $10K to $15K away from a "mint" Elan just by way of needed repairs, parts, labor, etc. to bring it to that upper pristine level. Furthermore, there's a big difference between a "restored" car that was brought back from less than optimum condition as compared to an original, mint, pristine, unmolested example. Give me the later every time, any time. And of course, a premium price tag will be attached! :)


That is EXACTLY what I was trying to say. You're better with words than I, well put Ted. This forum is fantastic about educating people on our unique cars and I have put my faith and trust in them time and again.
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Re: Looking for a mint M-100

Postby tweetdriver63 » Wed 30.09.2015, 03:52

I bought some loose stones overseas a few years ago. I told my wife I wasn't going to get them appraised when I got them set for her. When she asked why, I told her that it didn't really matter how much they're worth. It only matters how much she's worth.

My point is, if a mint condition Elan is what you want, then all that really matters is what it's worth to you to have one. The market value isn't all that important, unless your main concern is resale. Are you wanting one as an investment, or because you love them?
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Re: Looking for a mint M-100

Postby lotos » Wed 30.09.2015, 05:34

You're still thinking that the mint prices I have quoted ($22-26k) aren't actual selling prices. They are. That's what mint cars trade for. It's not some math between the renovation cost plus purchase price of a lesser car. It's what they sell for and have sold for over the last 15 years.
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Re: Looking for a mint M-100

Postby tb10 » Wed 30.09.2015, 09:48

Ironically the best and most mint M100 I bought was the cheapest one by a country mile so it's a case of being in the right place at the right time.
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Re: Looking for a mint M-100

Postby epipete » Wed 30.09.2015, 12:24

I just gotta say, and I guess I'm being impertinent, but why? It's a car, it should be used as a car which will result, at least in some wear and tear to its detriment. And if it's to retain in a glass bubble merely to gawp at or show to other folks then, I fail to understand that either, go and buy a diamond or a nugget of gold or a Picasso

I'm lost with this thread, patently, I'm to poor to understand the mentality of spending lots of money on something that in order to enjoy is going to diminish its value which renders the enjoyment er, unenjoyable, what's it all about :smt102
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Re: Looking for a mint M-100

Postby lotusflasherman » Wed 30.09.2015, 12:50

epipete wrote:I just gotta say, and I guess I'm being impertinent, but why? It's a car, it should be used as a car which will result, at least in some wear and tear to its detriment. And if it's to retain in a glass bubble merely to gawp at or show to other folks then, I fail to understand that either, go and buy a diamond or a nugget of gold or a Picasso

I'm lost with this thread, patently, I'm to poor to understand the mentality of spending lots of money on something that in order to enjoy is going to diminish its value which renders the enjoyment er, unenjoyable, what's it all about :smt102

:agree:
First M100 I bought with 38k miles on it and used it .... work as a Consultant Engineer took me all over the country and I put 120k on it, including trips to south of France over 3 years. That got written off and with insurance money went looking for a replacement... eventually found a really nice low mileage one above market price, but less than insurance money but because I'd paid 'over the odds' to get a low mileage example I found I was reluctant to use it.... and like people, they do need regular exercise to stay healthy... I've now seen the error of my ways.. :lol:
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Re: Looking for a mint M-100

Postby tedtaylor » Wed 30.09.2015, 13:34

Lotus38 wrote:
tedtaylor wrote:
It's really the other way around. Some of you guys have inflated views of the value of your car despite many examples of the actual sales value. Ask the guy that just sold his not-so-bad Elan with very low miles for only $8.5K.


The key is this. A "not-so-bad" Elan at $9K is still easily $10K to $15K away from a "mint" Elan just by way of needed repairs, parts, labor, etc. to bring it to that upper pristine level. Furthermore, there's a big difference between a "restored" car that was brought back from less than optimum condition as compared to an original, mint, pristine, unmolested example. Give me the later every time, any time. And of course, a premium price tag will be attached! :)[/quote]

So if you buy a 80's Chevy Corvette for $2500, and then spend $100,000 to make it the most perfect 80's Corvette ever, what do you think that Corvette is worth on the open market? Hint: If you say $102,500, then bingo, you now know you don't know how market pricing works.

Elan's just aren't worth it to buy and fix up because they are not investor-grade collectible cars. If they were, they would be worth $100K plus and it would make financial sense to buy one and fix it up.

Geez, I can't believe I am having to explain car values 101 to you guys. :bonk:[/quote]

Well YOU are the original poster to this tinder-box thread and as a "newbie" you sure have instigated and alienated the LEC community with your Elan-bashing. You obviously do NOT want a mint Elan. I sent you information on my "mint" Elan which is not widely advertised for sale (other than my personal website - where all the cars I own are listed), and which is a pristine example, one that has won awards at LOG events, one that was displayed in the AACA Museum as the finest of the Marque, one that I will be very careful and cautious as to who its next owner will be. It wont' be YOU, that's for sure. So go ahead and TRY to find your MINT Elan "outside" of this LEC community. When you do find it, don't dare consider it a "collectible" car!
If during your search, you find prices above what you're willing to pay, then respectfully pass on it and continue your search for one in your price range. Don't bash those who cherish their cars and demand big bucks for them. Just keep quiet about it and continue searching, without putting everyone down.
Well I've said way too much and obviously wasting my time on this charade. I know what my car is worth. I've turned down $20K offers and rightfully so, and will continue to do so. I know, as others here know, that "mint" Elans are few and far between and that you will pay a premium for one, unless you are in the right place at the right time and capitalize upon a unique opportunity (usually someone else's hardship or misfortune to have been forced to sell quickly). Those are the exceptions (and if you're willing to wait for them, so be it). Good bye, signing off...
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Re: Looking for a mint M-100

Postby tb10 » Wed 30.09.2015, 14:22

tedtaylor wrote:Good bye, signing off...


This might be a good point for a moderator to lock this thread :poke:
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Re: Looking for a mint M-100

Postby dapinky » Wed 30.09.2015, 15:24

tb10 wrote:
tedtaylor wrote:Good bye, signing off...


This might be a good point for a moderator to lock this thread :poke:


I have been watching the whole thread - starting with interest :-) , traversing through contemplation :? , and ending with incredulity :(

Obviously, I do not know what messages have been sent and/or received off-LEC (or even by PM on-LEC), or what research has been done by all parties....

...What I can say is that everyone has their own idea of what constitutes a 'mint' cat, and the price for which they would wish to sell or buy such a vehicle for...

...the arguement about whether the cars should or should not sit and be looked at, or driven regularly is totally seperate and NOT really part of the debate.

It would appear that Ted has brought his car to the attention of the hopeful purchaser (and it is clearly listed as for sale on his website, along with the asking price), but no deal has been done for whatever reason (disparity of perceived value vs condition, one would presume, but I don't know).

All I will say on that matter is that it's Teds' car - he can ask what he wants to for it - if you don't want to pay that, look elsewhere, but please dont get into a war of words by saying that it isn't worth it - It clearly is to Ted, and it will sell one day, or be kept in stock - simples! (This is car dealing 101 for those who don't understand it - you either pay what they want, or look elsewhere - the guy with the stock has the advantage if he doesn't need the cash, otherwise the buyer has the advantage).

I have never seen Teds car, and have no association with him (other than being on this forum) and wouldn't presume to be dissparaging about the car and/or price - it clearly has been well looked after and presented at various shows/events, and I do know what sort of level that takes!

As requested, I shall be locking this thread, but not deleting it - someone else may be along in a minute with a mint car for $10k and we'll all be happy.

In the meantime, if anyone wishes to add anything, feel free to PM me with your arguement, and if it is compelling, I will allow it :wink:
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