How much should I ask?

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How much should I ask?

Post  andydclements on Mon Jun 11, 2012 4:43 pm

Hi all, I'll not do the introduction here, but it's a question to those most likely to know.

I'm probably going to sell my Mk3 Elf and wondered what sort of price should I expect to achieve.
I simply have too many old car projects on and so am getting rid of a Landy and the Elf (probably) to give myself some breathing space to progress the others although I still keep thinking the Elf is a nice one to keep and do it properly (chemically dip, repair shell and paint).


It's road worthy and has current MOT and tax but isn't pretty.
Last year was the first year for any under-body welding and so it had panels put in for the rear subframe to secure to, some repairs to the sills and front corners near the sill/wheel arch area and a little in the spare wheel well. It will need that welding to be replaced with new panels if it's to ever be a concourse car, ditto it would need new wings as they are going round the headlights.
It had a replacement (used) rear subframe fitted at the time of the welding (that's when I found the mountings rusted away).
The interior isn't too bad but 40+ year old carpet isn't going to be great. A previous owner had a trim piece made to house a radio and speaker along with a few switches and this is at the front of the roof (it's not a nice look) just above the driver & passenger heads.

The paint work is not pretty but is intact in most places, where the welding was done I've simply covered with black to keep the water away. This is not a nice look overall, it's a 1970s yellow where it should be (was) the wine red/ burgundy with English cream roof.

I had initially thought I was going to struggle to get £500 based on what I paid for it several years ago and then depreciation and paintwork fading since then but I've started looking around and have to agree with a mate who suggested it should be over £1k as it's running and roadworthy.

I'm still not sure I'm going to sell (it would be a money pit for a while I guess if I go for the restoration route) but how much should I ask and where should I advertise if I'm not in a rush to sell fast but want to get a decent price for it?

Andy

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Re: How much should I ask?

Post  Jono_h on Mon Jun 11, 2012 7:41 pm

Andy,

I paid £775 for mine last year - it was a non runner, but didn't need much for an MOT. It's very original, with no welding. I reckon that any car with an MOT has got to be worth more than £1k.

You'll probably get the best price on eBay, but have to put up with the timewasters. Advertising on here might not get as much, but it'll (probably) go to a good home with an enthusiast.

Edit: Its not XGX 505G is it. That was my first car!


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Re: How much should I ask?

Post  andydclements on Mon Jun 11, 2012 8:04 pm

Thanks Jon.
It's a year older than your first car.

I was afraid it would be eBay, I don't mind the time wasters who ask lots of questions, it's the ones that bid and then don't turn up or worse do and then expect to haggle the price down. I suppose I'd be happy at £1k, it's probably what it cost me to purchase and to have transported here, the work last year was a few £s but then other than tyres, brakes, dissy, carb (I broke the old carb) it hasn't cost me much in the 4-5 years I've owned it.

I bought it on eBay several years ago so I guess it's fitting I use that as they way to part company (if I go that route). A bad sign is that I've just been looking in the manual at the engine mount as I suspect one has failed (auto, the OS drive shaft is rubbing the subframe when at full travel). It's not good to be thinking about mechanical items and then a thought comes along, of "A couple of wings, a couple of A panels, outer sills and minor patching then I could just have it painted".

Who knows, there may be a Mk3 auto Elf coming up for sale on eBay soon, or maybe I keep it and insure it for another year.

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Re: How much should I ask?

Post  Jono_h on Mon Jun 11, 2012 8:46 pm

Andy,

Keep it and enjoy it. It's only going to be worth more, as you work on it.

Interestingly, I was reading an issue of Mini Magazine which featured a bit about a '59 mini that Quentin Wilson had bought and was restoring. He was bemoaning the costs involved, but said that 'as a Custodian of one of only 192 '59's it had to be done'. Well there aren't that many more Elf's on the road, so when everyone's gone off Minis we'll be quids in!

Jon

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Re: How much should I ask?

Post  andydclements on Tue Jun 12, 2012 12:11 pm

I'm probably tipping towards the keep it option. It was entirely out of the question a while ago but that was at a time when I thought about keeping the Landy project. I've now decided I don't "need" a 110inch Landy as I can always hire a van even one with a tow bar if necessary. The space an Elf takes up is a lot less and the money it should take to get that Elf to a decent condition (me doing most of the work) is darn sight less than the Landy would take to get it road worthy, let alone time.

My brother was going to help me by doing the bodywork on another project (Lotus Europa) but I think it would be better for him if he did the welding and panel re-shaping etc on an Elf body shell, now I just need to convince him of that.

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Re: How much should I ask?

Post  Big_Al_Smith on Tue Jun 12, 2012 1:26 pm

offer him beer as an incentive - i find that always helps :-)

good luck with it
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