Market Intelligence
Bargains at the RM Sotheby’s Elkhart auction
This article discusses four unique cars sold at the Elkhart auction, highlighting their features and prices. The cars include a 1969 Lotus Elite Race Car, a 1957 Jaguar MkVIII, a 1966 Fiat 850 Spider, and an ACMA Vespa 400. The Lotus Elite Race Car, equipped with a Coventry Climax engine and three Weber carburetors, was sold for $67,200, while the largely original Jaguar MkVIII with a Borg Warner automatic transmission was sold for a bargain price of $34,720. The article also features the cheapest car in the selection, the 1966 Fiat 850 Spider, sold for $15,680, and the ACMA Vespa 400, a minicar with an interesting background story, sold for $47,600, which was much higher than its estimated price of $25-30,000.
In my previous article on the Elkhart auction, I promised to look at some of the bargains seen at that event. So, here are four more cars that could easily have captured your heart.
The first (and also the most expensive of the four) is a 1969 Lotus Elite Race Car. Its exterior, painted in the traditional British Racing Green worn by all Lotuses, is its only similarity with a normal Lotus. Equipped with an aluminum radiator, this car is lighter than the original (which weighed 504 kg) and more efficient. Furthermore, it is powered by a Coventry Climax engine that has received a number of upgrades. It also features three Weber carburetors, which make the model’s previous output of 75 HP a distant memory. This car was probably capable of delivering 100 HP. Therefore, with a power-to-weight ratio of 200HP/ton, it was, and is, bound to be a real pleasure to drive. The estimated price of $25-35,000 assigned by RM Sotheby’s was probably strategic, given that standard versions of these cars sell for around $50-60,000 regardless of their preparation. The hammer came down at $67,200 and even though this was almost three times the lower estimate, it was the right price for this car.
1960 Lotus Elite Race Car Sold For $67,200
