Paging Dr. Hess! Europa alert!

My boss, who used to own one, has found this and is agonizing over it... What's the consensus?

http://stlouis.craigslist.org/cto/4230366223.html

People are starting to ask money for basket case Europas? I thought they were primarily given away for free.

That's about a grand too high. If he really wants one, especially a stock one, buy one for $12-$15k. There's no point in buying a project unless he wants to do something special with it.

In today's market, that might be a tad on the high side, but not totally out of line. That's what is called a "Free Range" Europa. Last ran 20+ years ago, head in the boot (motor in boxes, whatever.) It looks to be complete and that's the important part. Motors are available. People are putting various versions of the Renault lump in, which is a bolt-in deal and cheap. Or change to another motor and spend a lot more time and money.

I know of a car, an S2, that was restored to better than new. The paint job alone was like six large. I think he wants 14K for it and easily has double that in the restoration. That would save your boss about 10 large in the long run if he can come up with the extra 11 today.

Classic British car project pricing is very simple:

If you are going to take it apart and put it back together properly, you are going to spend 20-30k on top of the puchase price.

10k getting the shell to painted stage

2k suspension &brakes

2k interior

4k engine

2-6k for E36 M3 I have not thought of yet but that seems to add up (like nuts and bolts)

If you are going to sell that car 5 years later, you will be getting 50 cents on the dollar if you did a good job. People who want to drive a classic buy these cars, drive for five years, and sell for what they paid.

To your own self be true...decide which group you are in and proceed accordingly.

That seems about $1000-1500 high to me. Especially for an S2 that you don't know what shape the engine is in.

About 4 years ago I bought one that was in roadworthy condition with a whole bunch of parts, including a DCOE conversion kit, for $2200.

That being said, I would offer about $1500.

There's a S2 profiled in the current issue of Sports Car Market that sold for $17,600. I can post copies of the article later when I'm not iChallenged. It was in very good shape having "benefited from a really complete makeover that likely cost twice the $17,600 sales price. Therefore we can call this Europa very well bought." The latter is SCM code for either the seller was screwed or the buyer got a bargain, or possibly both. "Well sold" on the other hand...

I don't see spending $10k on a paint job. If you are going to drive the damn thing it is going to get scratched. Sure, throw some paint on it, but ensure it isn't going to detract from your enjoyment of the mechanical thing because the paint on it is too precious to screw up.

Out.