1968 Lotus 7 S3 - What's it Worth?

[scannon]

Ross Robbins, a dyed in the wool Lotus enthusiast has decided it is time to pass on the care of his Lotus 7. Ross is a former president of LOCO and the main man behind LOG27 and LOG35. He asked me what I thought it was worth and I really don't have a handle on Lotus 7 originals so I am putting his story and some pictures here to get input as to what the car is worth.

 

The Lotus Seven, a car whose design was “dashed off in a weekend” by genius Colin Chapman is an icon that is still in production as a Caterham almost 60 years later. While the Seven is indeed iconic, in the hierarchy of the Lotus and Caterham Sevens there is one that gets no respect and that is the Series 3 version. The original version, later referred to as the Series 1, had a lovely formed aluminum body and though the most basic, it was hand crafted art and, for its time, went far more quickly than it should have based on the origins of its humble parts. The Series 2, the car that most think of when they picture a Lotus Seven, is the “Prisoner” version driven by Patrick McGoohan at the beginning of every episode. It was and still is widely raced and, in its Super version with the twin side draft Weber 1500 Ford engine, is the Seven that developed the reputation as a “Giant Killer”. The 948 cc BMC powered version, called the America, ruled the F production class thus cementing the reputation. While the Series 4 may have looked like a beach buggy it at least had the twin cam engine as an option throughout its production and was the roomiest and some say the best developed.

The Series 3 was pretty much relegated to the “cooking” version of the Ford Cortina engine so it didn’t rule the racetrack and wasn’t quite the streetable racer its predecessor was, nor was it as “Cool” as the Series 4. But it had the improved and widened rear axle, a fuel gauge and all the instruments placed in front of the driver. It wasn’t hip and it wasn’t a racecar. But you know what? It was and is a pretty good all-round sportscar, and has been my trusty companion for over 30,000 miles. This very car is the star of the book “Road Trip!” written by the owner and available on Amazon, featuring in four of the stories

Now offered for sale is my 1968 Lotus Seven S3. It is an original unrestored but well maintained car. It is chassis number SB2352, making it the 41st of only about 350 Series 3 cars ever built.

John W. Watson, the registrar of Lotus Sevens worldwide, said this about 2352:

“Unfortunately some of the factory records for the Lotus Seven are missing and SB2352 is one of the missing ones. However I can tell you that the car would have left the present factory at Hethel, Norfolk, UK in November 1968. It would most likely have had bare aluminium body and coloured g.r.p. wings and nose. Looking at the pictures I would say you have a nice original example.”

This Seven and I have accomplished exactly seven trips over 1,000 miles, some well over that. This symmetry is too compelling to ignore. I purchased the car in Snohomish Washington from a longtime owner in September of 2000 and have done all I can with her. I have been privileged to be her steward for 15 years and enjoyed every one of them. Now it is someone else’s turn to make memories as I have.

After purchase in Snohomish, WA in 2000, I drove it 1,350 miles home. In Sept. 2005, this car along with about 45 other 7’s from Great Britain, Europe, and the US, made a 2,800 mile jaunt from Santa Fe to San Francisco. The return trip back home on “The Loneliest Road in America” Highway 50 in Nevada provided one of the best stories of my 15 years with her. Then, in October 2006 it completed the Texas 1000, a thousand mile circuit around the Big Bend area of Texas, wearing just the Brooklands Screens as you see it here, despite cold and windy weather conditions. In 2010 the big adventure was a trip to Ocean City, MD to finish the US 50 trip across the USA, stopping at Gettysburg, PA for the 30th annual Lotus Owners Gathering. The return trip was another story generator with each leg of the journey well over a thousand miles she gathered a total distance of 4,141 miles. On this trip alone, the engine turned almost 14 million revolutions, yet it didn’t miss a single beat. Just this past August and September 2015, three friends and I took her and her brother, my 1965 Elan, north from Colorado to Itasca, MN the source of the Mississippi River then down the Great River Road all the way to New Orleans and then back to Colorado. She made it home fine with only two quarts of oil used and topping up with water occasionally. The generator needed to be overhauled and it has been and now she’s ready for another big trip. Perhaps to your house!

So you can see, I drive the living whee out of my Seven. And the right hand drive has not been a problem at all. It is small enough that it doesn’t seem to matter. An unrestored car, the patina on the car comes from many owners although I am responsible for some of the most obvious, like the scrape and dent on the left side of the bonnet. I took it out after checking things over but forgot to fasten the clamps that hold the bonnet securely. About a block from home, when I reached a speed high enough for the wind to catch the front edge of the loose bonnet, it flew like an aluminum kite up over the cockpit and onto the nearby curb. Ouch! While I straightened the sheet metal, I have never repainted the damage. Hey, I have scars from driving and my cars do too. It adds character!

As for repairs, the engine has been rebuilt, the rear “A” frame has had the brackets repaired along with new bushes, and the rear axle has gotten new seals. New front shocks were added and all the bushings replaced in 2010. I had a new tonneau cover made and new side curtains were obtained from Caterham USA which still carries most specific Seven parts. She got a new stainless exhaust system as well. What doesn’t work? The gas gauge always reads empty, the top doesn’t fit over the roll bar and the hand brake doesn’t. Other than that, everything works as it should.

The car has seen three or four track days. My favorite memory is of chasing a Porsche Boxster around Second Creek Raceway, a twisty 1.3 mile track in Denver. The guy ran away from me on the two straights but I caught him quickly in the turns. The car slides so nicely it is fun to drift it through the corners on the Korean all season radials. I can maintain a lot of momentum through the turns. When we got back to the paddock, the Boxster guy asked what I had in that thing that made it go so fast. That cooking Cortina engine made 84 horsepower at sea level, new, and Denver is a mile high city so it’s more like 70 there. It is Lotus handling that allows such high average speeds with low power.

I have never had the top on during my ownership of fifteen years. Fortunately it rarely rains in Colorado, so my key fashion accessories are a cap and sunglasses. What if it rains? I get wet. It is only really bad with the Brooklands screens, but tolerable with the windshield and side curtains if one is moving quickly enough. I still go out regularly in my beloved Seven and hope for dry weather. One night, returning from a local club meet, it began to rain and while I was sitting at a red light, a police cruiser pulled up in the right lane. It was a long light and I looked up to my right (RHD remember) at the officer in the car while the rain relentlessly soaked me only to see the cop with a wry smile shaking his head in that universal massage of sympathetic disdain.

Never restored, just well maintained, the dings and scars are the patina of a well-used and loved road buddy! I say it now defines the term “Grand Touring” car!

 

 

 

 

 

[Kitcat]

I remember this car as well as its owner and his wife and her Elan at LOG 30 in Gettysburg. The car is as beautiful as represented above and the driver as heroic as the car is lovely. I was pretty proud of having driven my Cat 600 miles one way to LOG. Then I saw this driver and I stopped bragging. I later bought his little tome chronicling his se7en adventures. Quite a fun read. So what is this worth, who knows? Seems like decent original S3's are bringing somewhere around $35K? This one does seem special tho and it is running and well loved and maintained, not a dried up relic. So maybe $35-40K? Hopefully Skip will eventually tell us the sales price and we will all know for sure.

[scannon]

A price hasn't been set yet. That's the purpose of this thread, to get an idea of a realistic price.

 

The car is an unrestored original, well loved and maintained and driven. It needs a similar owner.

[Kitcat]

Skip-that's why I guesstimated $35-40K. It might depend on how big of a hurry he is in, the lower the price, the likelier it is to sell. And how lucky he might get in finding that one, rare, potential buyer who values originality above all else. Original Elites are going for $100+K. Elans from the same era as this S3, seem to go for about $30-40K?

I dont claim to be an expert, or even semi-informed, maybe Croc will offer his thoughts, and ditto the folks over at simple sevens? But I am sticking to my $35-40K guess. And for that $, I'd likely buy a higher performing, newer Caterham, since this car's wonderful provenance is not esp imp to me.

A final (updated) thought: I recall being told that when you buy used the rule is:Buy the owner, not the car. That concept adds value to this se7en.

Edited September 29, 2015 by Kitcat

[Alaskossie]

Skip,

 

Very sorry to hear that Ross is planning to move on from his Seven -- he and this car are both icons.

 

Once he gets an idea of a fair price to ask, I expect to see this car featured on Bring a Trailer. (Ross is a frequent commenter on Lotus cars listed on that site).

[TheDingo8MyBaby]

I agree it depends on finding the right buyer. In addition to what Ross states about S3's, they are a bit less desirable for vintage racing as they may be too "new" for some production car classes. The stronger axle does make them well suited for a road car. To me, this seems like a great car for someone looking for a driver/collector genuine lotus 7.

 

Here are the Pros in my mind:

Very Honest Mostly Original Car with Great History (from a great guy)

Rear Axle

Rare S3 (this may or may not matter to the potential buyer)

Lots of miles and fettling behind this one - reliable platform

Chronometric Tach (it's not stock, but this is a huge pro for me)

A potential pro could be how many original parts he has laying around (wheels, etc)

 

 

Cons:

Some people may not appreciate the patina

downdraft, & the bulge in the hood (at least it's not my cup of tea)

85 horsepower Kent

Age and preparation if wanting to go vintage racing

 

Taken this all into account, I'd say closer to $30-35K, but it's difficult to tell with so few S3's out there. If it was a later car and had the Holbay 1600 CFR with DCOE's, I'd say closer to $35-40K. Lotus Sevens are a bit more valuable in the UK, so with this being a RHD example, it may be more likely it would sell to someone over there.

Edited September 29, 2015 by TheDingo8MyBaby

[Croc]

I saw this car at Gettysburg LOG and chatted with Ross there - lovely chap. I am sorry to see that he is moving the car on but it is a wonderful opportunity for someone to get a beautiful seven

 

I really cannot add anything to what TheDingo8MyBaby/Meryl Streep (world's worst Australian accent in a movie) said above - I agree with him/her/it wholeheartedly. Lower $30s. Pristine and freshly restored models with desirable spec are in the $40s and this is not pristine.

 

I hope Ross is patient with the sale and aims to catch the right buyer who will drive and cherish the car as much as he has in his stewardship.

[TheDingo8MyBaby]

TheDingo8MyBaby/Meryl Streep (world's worst Australian accent in a movie) said above - I agree with him/her/it wholeheartedly.

 

I'm a he, but my australian accent is pretty horrible.

[yellowss7]

I'm a he, but my australian accent is pretty horrible.

 

Croc's Australian accent is pretty bad too. :leaving:

[rikker]

Well Mate,

looks like fair dinkum cobbers all round old blue

[scannon]

Ross's trip in the above Seven and his Elan down the Mississippi River is chronicled here:

 

http://www.lotuselan.net/forums/lotus-talk-f50/the-louts-lotus-and-the-great-river-t34266.html

[Innominatus]

I hope Ross is patient with the sale and aims to catch the right buyer who will drive and cherish the car as much as he has in his stewardship.

 

Er, that person appears to be me!

 

I'm Josh, Ross's son. I know this car intimately, having first driven it about about a week after Ross first purchased it! So there is substantial overlap in the care and feeding of this particular machine, enough to assure even the crustiest old-school Sevenite of a seamless transfer of stewardship and, more importantly, of philosophy.

 

Recently I have been actively looking for a more modern Caterham (better as they are for track work) so when the opportunity came up to exercise my long standing right of first offer, I knew I had to make a choice: go the new way, or go old. In time there may yet be an opportunity for a newer, hot-roddier Caterham to be stable mate to this car, but this one was a moment unlikely ever to re-present itself, so I'm happy to say we reached purchase terms over lunch today.

 

I hope to have more details to share in the next few weeks... there are many more stories to come from this 7.

[scannon]

Hi Josh,

 

Ross told me at the LOCO meeting that you wanted the car. I'm happy to see it stay in your family and in the area.

 

Congratulations!

[Croc]

Congratulations on your "new" car! You are in a nice part of the country to be able to enjoy the seven as it is intended.

 

In time there may yet be an opportunity for a newer, hot-roddier Caterham to be stable mate to this car

 

I can say it is socially acceptable to have two sevens - one for track and one for road - I do! :iagree:

[super7guy]

Ross is fortunate to have Josh being interested in the L7S3. Many of my friends have offered their specialty cars to their offsprings only to be told, Don't want it.

 

There is nothing wrong in having two sevens, but there comes a time to find another caretaker and for us with original cars, most of those interested are on the other side of the pond.

 

Wayne

[Jesse D]

Great result. Congratulations.