Old German turntable

You could always tear it down, and do a clean lube and adjust.  Be sure to take the motor apart and then lube the motor bearings.  Then remove and replace the tone arm with any arm up to 9 inches.  It will require you drilling the top plate for the new mount but it’s very easy to do.  I did this with my Dual 1229, and mounted a Grace 747.  
Its my favorite turntable and gets used every day.

The Elac is a very well made turntable.

Check EBay for comparative prices! Do not over pay! My $20 GW purchase was just one of those lucky finds - like the time I walked in and bought a pair of Klipsch Heresy's for $25!

There are several on EBAY right now! Buy one in the best condition, of course!

If you like rumble.

@roberjerman- thank you for posting. I’ve got a chance to pick up a Miracord 50h in pristine condition for a couple hundred bucks. Thoughts?

@noromance : Definitely worth restoring! They had great (and powerful) motors - plenty of torque! My rim-drive Rek (with wood plinth) and Grace 707/Denon 103 sounded really good! 

@roberjerman Great posts. Nothing to add except to say I have a Rek-o-Kut B12GH waiting for some love. 

Just remembered that I have another rim-drive Rek-O-Kut (arm-less) in storage! And I would buy another Miracord if the price was right!

I also have on hand: 2 Dual's (1209 and 1229), a Garrard Lab 80, a Bogen/Lenco, and a Kenwood. All rim-drive. Along with 4 Empires, a Rek-O-Kut, a Fairchild, a VPI HW-19 and a Saul Marantz ST-7 linear-track. These are all belt-drive. And the list goes on ... I like collecting TT's and cartridges!

The Miracord 50 is an excellent rim-drive TT (like a Dual). It has a rather heavy tonearm - which I was planning to mount a Denon 103 on (probably a good match!). Should work well with low-compliance MC's! Definitely a collectible TT - and good German engineering! Someday I will buy a new headshell and get it out of storage! 

But I did pack the Miracord and had it sent along with most of my HiFi gear to Florida. Where it still sits (headshell-less) in storage! 

I have one that I bought at GoodWill some years ago. Paid about $20 (maybe less!) for it! Cleaned it and used it briefly. Then while fiddling with it I dropped the headshell - which fell under a pile of gear! My search for it was futile! Might as well have disappeared into another dimension! Right before I made my move to Florida I told my brother to check for it when the cleaning crew went to work. Alas, nothing! So I went months with a nonfunctional Miracord because I didn't want to spend another $40 for a new headshell!