I have a 2002 Audi TT Quattro Coupe ALMS Edition (Avus pearl silver w/ red interior) 225HP 6-Spd manual with 142K miles. On my way to work this morning I accelerated to pass someone and heard some clunking noises, saw smoke and debris in my rear view mirror, and saw smoke coming from under the hood. The engine loss power, I pulled off the side of the road, killed it, and got out to inspect the damage. There was a trail of oil behind me and the reminder of my oil was running down the shoulder of the road in front of me. I haven't had a chance to fully inspect the damage but I suspect that the engine threw a rod and went through my oil pan or something. I got it towed back to my house so I will inspect it once I get home from work.

Anyways, my question is this... Assuming the engine is indeed shot, should I:

1) Invest the time/money to repair/rebuild the engine (assuming anywhere from $5k-$10K)

2) Try to sale the car as-is to an individual or company specializing in damaged cars

3) Take the time to part it out and sale the good components on Audi forums or eBay?

Other than some prior damage to the driver's side door and rear quarter panel (and of course the engine now), the car is in fairly good shape considering its age/mileage. And with it being the limited edition ALMS package, I would assume the red leather interior components and premium RS4 wheels may be of some value.

Besides the poll, any advice would be greatly appreciated. Thanks!