Hmm, fair point.
My S2 needs paint due to corrosion but nothing like that. I was quote £8-9k for a full prep and spray. Also the top needs replacement, I was quoted £2k for that.
Right then, off to book the appointment.
Sounds not too far off AND yours has been cared for!
I recently helped someone get a quote for one, that was in better shape than the photos show that one to be, and it was over £10k + VAT. This was it being taken apart by someone who knew Aeros, panels repaired properly, sprayed, and then the lining tape/seals replaced before panels were put back in place.
As you said, a roof done by someone who knows the Aero is going to be circa £2k.
Add to that any engine work - and I would be surprised, based on the photos and signs of corrosion, if that didn't need work - and you're at the price of a decent S2 Aero.
If we assume the car has a spotty service history, which again, wouldn't be unfair based on current condition, that also stands against future value.
£23k all of a sudden doesn't seem like such a keen buy and that is probably why it ended up at auction.
As an aside, if anyone is looking for a lovely, cherished S3, I have been made aware of one. Drop me a PM if you're serious and looking to buy and I'll make an introduction; sadly, the vehicle is only available due to a bereavement.