M100 Auction - Phoenix AZ, Jan 17 2020

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M100 Auction - Phoenix AZ, Jan 17 2020

Postby hethel_haus » Tue 07.01.2020, 19:15

Full disclosure - I have no firsthand knowledge about this car nor any relationship with the auctioneer. However, this looks to be a pretty special car from a private collector who appears to have bought it new and kept it in storage ever since. 232 miles showing on the odometer!

If anyone on the forum can shed any light on this car, or ends up as the proud new owner from the auction, please let us know!

Link to the RM Sotheby's auction site with the car details follows:

https://rmsothebys.com/en/auctions/az20 ... lan/841855
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Re: M100 Auction - Phoenix AZ, Jan 17 2020

Postby hethel_haus » Sat 18.01.2020, 20:17

Was anyone interested in what a like new M100 was worth? Very surprised that no one on the forum posted anything about this car. Maybe everyone is hibernating???
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Re: M100 Auction - Phoenix AZ, Jan 17 2020

Postby Brit-Car-Nut » Sat 18.01.2020, 22:33

hethel_haus wrote:Was anyone interested in what a like new M100 was worth? Very surprised that no one on the forum posted anything about this car. Maybe everyone is hibernating???

Not hibernating but an almost new version is not a good example of the value of a decent used model. $30K to $40K is way beyond the car's real value.

Having never been driven more than a few miles, how well did it survive mechanically?
Brakes, cooling system and suspension rubber all have end of life issues - even sitting on a shelf. It is still 29 years old and a LOT of parts will have gotten OLD and much less flexible.

Since it was a SALE, did it actually sell? What was the final price? Who bought it and what plans do they have for the car?
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Re: M100 Auction - Phoenix AZ, Jan 17 2020

Postby sideways » Sun 19.01.2020, 02:19

Brit-Car-Nut wrote:
hethel_haus wrote:Was anyone interested in what a like new M100 was worth? Very surprised that no one on the forum posted anything about this car. Maybe everyone is hibernating???

Not hibernating but an almost new version is not a good example of the value of a decent used model. $30K to $40K is way beyond the car's real value.

Having never been driven more than a few miles, how well did it survive mechanically?
Brakes, cooling system and suspension rubber all have end of life issues - even sitting on a shelf. It is still 29 years old and a LOT of parts will have gotten OLD and much less flexible.

Since it was a SALE, did it actually sell? What was the final price? Who bought it and what plans do they have for the car?


What he said.

(some) people need to stop oohing and aahing simply because a car has only a few miles...okay, make that EVERYONE (who does this) needs to stop such nonsense.

Cars were manufactured to be driven.

End.
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Re: M100 Auction - Phoenix AZ, Jan 17 2020

Postby Fredjohn » Sun 19.01.2020, 10:36

Brit-Car-Nut wrote:
hethel_haus wrote:Since it was a SALE, did it actually sell? What was the final price? Who bought it and what plans do they have for the car?


If you follow the link to the sale above, the RM Sotheby's website has a results page. Unfortunately it does not as yet include 2020 results. Keep watching if you're interested.
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Re: M100 Auction - Phoenix AZ, Jan 17 2020

Postby Brit-Car-Nut » Sun 19.01.2020, 14:47

I read the listing and I asked because they have not included the sale in their results pages. The original poster's second post suggested that the sale went through and info was available...
Last edited by Brit-Car-Nut on Sun 19.01.2020, 16:30, edited 1 time in total.
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Re: M100 Auction - Phoenix AZ, Jan 17 2020

Postby Fredjohn » Sun 19.01.2020, 15:44

Brit-Car-Nut wrote:Most of us CAN read and I asked because they have not included the sale in their results pages.


Sorry if my comment offended you. It wasn't directed at you personally, but at anyone who hadn't followed the link and were interested in the final outcome.

Just trying to be helpful.
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Re: M100 Auction - Phoenix AZ, Jan 17 2020

Postby Brit-Car-Nut » Sun 19.01.2020, 16:26

Not offended at all. I was curious earlier and tried to look it up but they hadn't posted the results.

I apologize that my reply appears to be less than courteous towards you. It was directed toward the company that has a RESULTS link but not kept current.

Why waste our time by suggesting that information was available.
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Re: M100 Auction - Phoenix AZ, Jan 17 2020

Postby hethel_haus » Sun 19.01.2020, 18:40

Not sure how long it will take RMS to post results but I'm sure they will in due time. It was unfortunate that they did not televise their auction the way that Barrett-Jackson and Mecum do. Anyway the Lotus should have sold at RMS since it was listed as a No Reserve sale. It was advertised as a 1 owner car and the listing photos showed it to be in pristine collection. Hopefully it was purchased by someone with the resources to put it back on the road where all Lotuses should live! The fact that they would have to go thru servicing bearings, seals, fuel and braking systems, whatever should not be a difficult task. After all, we have all read about barn find cars that have been collecting dust for decades and many of them have been purchased for big $$$ because they were an unmolested original. Let's all hope that this car was bought by a fellow enthusiast who will get this car back on the road, at whatever the cost!
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Re: M100 Auction - Phoenix AZ, Jan 17 2020

Postby Fredjohn » Mon 20.01.2020, 18:40

Some mad rich people out there!

It sold for $32,480!!!

:bonk:
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Re: M100 Auction - Phoenix AZ, Jan 17 2020

Postby Brit-Car-Nut » Mon 20.01.2020, 18:49

That's only £25,000.00!

What a deal!

I hope it gets driven now.
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Re: M100 Auction - Phoenix AZ, Jan 17 2020

Postby tedtaylor » Wed 22.01.2020, 00:24

Fredjohn wrote:Some mad rich people out there!

It sold for $32,480!!!

:bonk:



We all (current M100 owners) should be ecstatic with this outcome. it only goes to heighten the value of ALL our cars!
it's time to stop talking down conditions/values, but rather take the high road and highlight the hidden values in Lotus's best kept secret sports car......the M100 Elan!

:gathering:
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Re: M100 Auction - Phoenix AZ, Jan 17 2020

Postby ElanBRG » Thu 06.02.2020, 05:56

tedtaylor wrote:
Fredjohn wrote:Some mad rich people out there!

It sold for $32,480!!!

:bonk:



We all (current M100 owners) should be ecstatic with this outcome. it only goes to heighten the value of ALL our cars!
it's time to stop talking down conditions/values, but rather take the high road and highlight the hidden values in Lotus's best kept secret sports car......the M100 Elan!

:gathering:


$32k for a unicorn M100 isn’t something to be too happy about for a car that listed for $40k almost 30 years ago. Just shows they are still not well regarded well by the collectors.
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Re: M100 Auction - Phoenix AZ, Jan 17 2020

Postby Brit-Car-Nut » Thu 06.02.2020, 06:06

Ironically, I just sent them a NEW original mirror control switch - not a GM version.

It seems that someone at the sale stole the original one.

I really expected the car to bring a MUCH higher price.
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Re: M100 Auction - Phoenix AZ, Jan 17 2020

Postby tedtaylor » Sun 09.02.2020, 04:55

I would much rather have a higher mileage car that is well maintained as opposed to a very low mileage car that's been sitting unused....
lots of hidden gremlins just waiting to jump out.... rubber perished, hydraulics, weak or static valve springs, disintegrating plastic, dry rot, condensation, and on and on...
good luck to the new owner!
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Re: M100 Auction - Phoenix AZ, Jan 17 2020

Postby Rambo » Sun 09.02.2020, 09:29

The car looks absolutely fantastic.

But I can't help thinking the owner has missed a trick. Not only has he/she lost $8500 but its only been driven 232 miles in nearly 30 years of ownership :shock: How sad is that ? I would drive that in a day just for a bit of fun and feel good factor. What a waste of a good car :(
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Re: M100 Auction - Phoenix AZ, Jan 17 2020

Postby dapinky » Sun 09.02.2020, 12:25

As said, there has been an $8.5K loss (so far!) on this car, add in storage fees, and it's cost someone big bucks.....with no driving enjoyment.

Also, realistically, what the hell can you do with it?

To drive it regularly will soon add on the miles, and thus ruin the 'uniqueness' of the car - and the value.,,,, also, it will cost a lot to make it reliably roadworthy (otherwise, I'd just be expecting things to go wrong every time I took it out).

The biggest issue I see is maintaining it... *if* you choose to drive it, and something breaks, where are you going to get the 'new' parts to keep it in the current state?

Either way, and whatever happens, I hope the new owner gets enjoyment out of the car.
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