Under 2-Liter Sports Racer – 2012 Market & Price Guide

Two-liter sports racing cars have always had a place to compete within the ever-changing regulations of international motor sports: the World Sports Car Championship from 1953–1961; the Speedworld Challenge from 1962–1963; the International Championship of Makes from 1964–1971; and the World Championship of Makes from 1972–1981. There was even a European Championship of Makes for cars up to 2 liters from 1970–1975. This allowed manufacturers to showcase their design and engineering excellence by producing a limited number of purpose-built racing cars to compete at the world’s greatest racing venues including Silverstone, Nürburgring, Le Mans, Monza, Daytona, and Sebring. On the right circuit, these nimble cars could often get the better of their larger competitors. Today, these historic cars are highly sought after by collectors, not just for admiration of their technology, but also to participate in reenactments of these famous racing events. Most historic groups, both in Europe and the United States, break the categories down into pre-1960, 1960–1965, 1966–1970, and 1971–1978.

1962 Lotus 23

Colin Chapman was a young English engineer whose career started by modifying an Austin Seven for trials events in 1948. By the early 1960s Lotus had become famous for well-engineered, lightweight, excellent handling, single-seater and sports racing cars. Lotus had won sports car and Formula One races, and Chapman’s designs, coupled with young Jim Clark’s driving skills, would make a mark in racing’s history books. For 1962 Chapman chose to widen the chassis of the successful Lotus 22 Formula Junior single-seater and built the Lotus 23 sports racing car. The suspension remained similar, outboard with A-arms, coil springs and disc brakes. The engine choices were Coventry Climax and Ford-based 4-cylinder 1097cc units mated to either a Renault or VW-based 4-speed gearbox. Thirteen-inch wheels were used allowing a low, sleek body with a two-seat open cockpit. In the works was a Lotus modified 1.5-liter version of the Ford 109E engine. This twin-cam engine with a 5-speed Hewland gearbox would prove successful. Clark debuted this car at the June 1962 Nürburgring 1000-kilometer race and led the race in the rain by up to two minutes—over the might of Ferrari, Maserati, Aston Martin and Porsche. At the Le Mans 24 Hours, a dispute with the French organizers over the number of wheel studs caused the entry to be declined and Chapman vowed never to race at Le Mans again. Nonetheless, the Lotus 23 had been recognized as a race-winning car and sales took off, with 131 cars built. It would see success in Europe and across the USA. The Lotus twin-cam was the engine of choice, but success also came in cars with Porsche and BMW power. George Follmer won the 1965 USRRC title driving a Porsche-powered Lotus 23. Today the 23 continues to race in historic competition in a category for under-2-liter 1961-’65 sports racing cars.

1978 Lola T298

Eric Broadly founded Lola Cars in Huntingdon, England in the 1950s. By the 1960s Lola Cars was well known for building successful sports racing and single-seater racing cars. In 1971 Lola won the 2-Liter European Sports Car championship with the T212. For 1972 Lola was to design an entirely new 2.0-liter car with a formidable design team. Lola designers Eric Broadley and Bob Marston were joined by a young Patrick Head and John Barnard. Both Head (Williams) and Barnard (McLaren, Benetton and Ferrari) were later to be involved with the design of multiple Formula One World Championship winning cars. The T290 was an improved full monocoque design and was one of the most advanced 2.0-liter sports prototypes of its day. It was the basis for the T292-T298 series as well as the 3.0-liter T280-T286 series. As it evolved into the T298, the last of that 2-liter series, the cars became very successful, often racing in FIA Championship of Makes endurance races, such as the Le Mans 24 Hours and Monza 1000km. Engines were the fuel-injected, 4-cylinder, multi-valve 2.0-liter BMW M12, Cosworth BDG and Chrysler ROC. The gearbox of choice was the Hewland FG 5-speed. This was a 1250 lb, 300 bhp 2.0-liter sports prototype that could often beat the larger cars on the right circuit. Today the Lola T298 is eligible to race in the Classic Endurance Racing series in Europe, which races at the best circuits such as Le Mans, Spa, and Paul Ricard. In the USA there is a 2.0-liter FIA Group in both East Coast and West Coast racing groups. The Lola T298 is one of the best 2.0-liter racing cars money can buy.

Criteria Used For Assessing Valuations for this Guide:

• Degree of Originality
• Overall Condition, Restoration
• Technology, Design, Coachbuilder
• Production Numbers/Rarity
• Competition History
• Ownership History, Documentation
• Modern Event Eligibility

Regional Variances

The prices stated in this guide are based on U.S. values. The values of historic racing cars can vary as much as 25%-35% in other countries, depending on local market appeal, currency rates, import duties, and VAT. Most of the time, we are able to document known sales or closed escrows, as they say in real estate. When this is not possible, a logical estimate of the car’s value is given, based on its sales history and relationship to cars of its type.

The prices stated in this guide are based on U.S. values. The values of historic racing cars can vary as much as 25%-35% in other countries, depending on local market appeal, currency rates, import duties, and VAT.