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Bugeye vs. TR4 vr. Lotus 7

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Probably not the correct venue to suggest an American car but if I had 17K to spend on a fun car I'd to buy a car SURE to appreciate, a '69-72 Corvette big block convertible. Guaranteed to double in value in ten years. You heard it here, first. Bob

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Bob,
I think I beat you to that. I bought my '69 Corvette 427/435hp (now tuned 454ci) big block two-top roadster for $6000 in 2002. I sold it this past March for $24,500. It was a good driver, but needed paint, stress cracks fixed, new rubber window seals, new glass etc...)

The prices are definitely already rocketing. The asking prices still exceed the selling prices by quite a huge margin, which is common when the auctions are so far ahead of the mass private sale market.

Corvette generations tend to follow the same trends -- when the cars reach the popular tide, private sale prices go $16K for really rough small hp cars, $25K for good small hp drivers that you can show. Nice mid-tier matching numbers cars go $35Kish. High HP #s matching go up to $45-50K if they are local/regional show quality. Multiply it by 2 for Barrett-Jackson or other large venue auctions. Problem is that it's near impossible to get your car into B-J. (And obviously, this excludes L88, L89, ZL1, Z06 type cars.)

So with my car being non-numbers matching (wrong engine) with no history, needing paint and lots of things to bring it to show, it was never going to go much higher based on previous trends. I could buy a nicer '64 Stingray with what I sold my '69 for.

But, I agree that mine sold for too much given the current pricing trend, and that you can still make good money buying and selling C3s. I've owned the '69, plus '70 350/350 convertible, as well as '73 and '74 numbers-match 454 4pd coupes.

As for the Lotus 7 and Coldplug's correct assessment, I should explain a little more... I did see that was an S4, which means that it is indeed overpriced. But because Lotus Sevens (all Lotus cars) are niche classics, there tends to be more negotiation room.

Interestingly, I've always thought Keith Martin's SCM has always priced Lotus cars low. Keith is an Italian car guy -- loves Alfas, Ferraris (as well as Porsches,) and I think has always held a grudge against Lotus. Call it passive aggressive, or just chalk it up to Lotus road cars selling more frequently on the private markets than at auction. NOBODY with any sense ever buys anything other than a top-tier Lotus racer (like an F1 car or Eleven Le Mans) at auction, due to the amount of inspection needed to make a good purchase. Of course, I've never thought it has made sense to buy a car at auction in the last 15 years...Why buy a car when you have no negotiation power and limited inspection time?
 
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John C.,

What is a good price on the S4 Seven? It has the twin cam and supposed 10K original miles with some clear coat cracking on the right rear fender? I know it is not as good looking as the previous series and is all fiberglass rather than aluminum. I am not sure the seller would come down much. ...

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Steve, I think it's a very hard car to price because there so few change hands. I don't know how many were imported but it would have been a 3 digit number. I'd base an offer on the going rate for other 7's, including Caterhams and the other good replicas unless the Lotus name is important to you. This is a case where the replicas are as good as the real thing unless you're planning on vintage racing. An S4 is probably worth 75% of the others in similar condition.

All that said, this car has the advantages of being in good condition - probably better than most Lotus-made 7's will be - ,having very low mileage, and being for sale near you.

My suggestion is to drive it and see what you think. These are great cars but not everyone's cup of tea. My experience with older Lotuses is that no one who drives one has trouble deciding whether they like it or not - they either love 'em or hate 'em, and it doesn't take long to decide which.

Also, try to find out why it only has 10000 miles on it after all these years. Was it pampered or was it unused because of some other reason.

If you drive it, love it, and are happy with the mileage explanation - what's the worst that can happen? The value of these cars isn't in their ability to start on cold mornings etc - the value is in the enjoyment they provide, in and out of the garage. What if you lose a few thousand over a few years time? I've lost more than that already on the truck I bought last year. It'll still be a bargain as long as it resonates with you. I didn't want to sound too negative on the Lotus - I understood your question to be solely financial, which it really wasn't. Good luck with whatever course you take.
 
Thanks again for all the information from this question; it has been enlightening to see what other lovers of LBCs have to say. I understand the stigma of the Lotus and I will investigate more; however, I do not live anywhere near the car, so any driving it would entail much effort and costs (must bring that into the equation). Well, on with the search.

Thanks -- Steve T.
 
I think Sammyb sells the tr4s a little short on current value and appreciation potential. Very nice condition to me would be somewhere between good and excellent....I'm not sure how many Tr4s on the market at any given time rise to that standard but I see them as selling in the 10 to 13.5k range. I've seen near concourse TR4a's on ebay sell early in the mid twenties and a couple hit the mid thirties. These as rare...but the potential is there.

The more these 4s show up well sorted right next to the popular TR6...the better they look. The racing history, the British pride in this model, the Michelotti design, the enthusiast ability to work on, the ability to perform with modern traffic. The parts availability, the club support, the increasing press support.

I don't know....might be an ok investment.
 
I have to apologize for overstating the possible increase in value in Corvettes. I seem to have missed the ccurve as the snow ball is already rolling. There are no more $17K BB convertibles. On checking the latest Hemmings EVERYONE is selling at what I anticipated the value to be in 5 or 10 years. Maybe next time I can get ahead of the boom. Bob
 
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