Pricing.
Author
Discussion

MDubyaB

Original Poster:

203 posts

187 months

Sunday 16th June 2013
quotequote all
Learning as much as I can about 7s at the moment and just wanted people's opinions on the prices of these cars in the 'Classified' section.

Are they both priced correctly? I'm not saying they're not, I'm just keen to understand why they're priced so similarly.

http://www.pistonheads.com/classifieds/used-cars/c...

http://www.pistonheads.com/classifieds/used-cars/c...

sjmmarsh

551 posts

249 months

Sunday 16th June 2013
quotequote all
The first is priced as an 'as new' car assuming at the condition matches it. The second has a more 'desirable' engine and this adds to the value of the older car.

The main rule of 7 pricing is condition and spec. Age and mileage are less relevant tan for 'normal' cars.

Steve

MDubyaB

Original Poster:

203 posts

187 months

Sunday 16th June 2013
quotequote all
Thanks Steve.

I understand that 7s hold their values but I've also read that modified cars don't, quite so well. It seems in this case that the modifications are actually propping the price of a much older car.

What am I missing?

Orange Blackbird

105 posts

196 months

Sunday 16th June 2013
quotequote all
It is a difficult one and I can understand your confusion. If the car is a clearly defined performance model like the Superlight/Superlight R/R300/R400/R500/Beaulieu/Prisoner/HPC/JPE etc then modifying them away from Caterham fitted products makes a car become less attractive to some. However if the car is a basic Caterham model like a Classic/Roadsport then adding modifications can(not always) increase its value. Caterham products like 6 speed box, R500 wheels, upgraded brakes are good always worth having on most cars.

The 1996 car looks very nice and is very individual, you are unlikely to find another seven with that spec however it will have limited appeal imho and may take time to sell and resell in the future, although for someone it may be their car for life. The newer car is a good first 7 and it will have wide appeal and although pricey is hardly used and would always sell well in the future when you want more power.


Dr Slotter

408 posts

175 months

Sunday 16th June 2013
quotequote all
I reckon that older one is priced to try and take advantage of it has had a TwinCam put in it. Original TwinCam engined cars are pretty valuable.

MDubyaB

Original Poster:

203 posts

187 months

Sunday 16th June 2013
quotequote all
That all makes sense, thanks.

Ummm...why's this one basically half price though?
http://www.pistonheads.com/classifieds/used-cars/c...

TeflonT

1,670 posts

292 months

Sunday 16th June 2013
quotequote all
I would not touch a Twin Cam. Should it fail you will have a nightmare getting it fixed at a reasonable cost. Some TwinCam parts are very hard/impossible to get. The K-Series is a better engine, simply because it is more modern and plentiful. Stronger than the Twin Cam too.

{runs for cover from Lotus purists, but this is a Caterham, not a Lotus)

They are both expensive for the model they are, but one definitely has very very low mileage. However had it done 10k miles it would be worth £14k. So if you are going to do £10k miles in it, you are pouring money down the drain IMO.

tomwoodis

570 posts

213 months

Monday 17th June 2013
quotequote all
That last one you sent details on looks to be a bargain to my eyes.

Ok it has just about the least desirable of the K series engine variants being the 1.4 but its had a Super Sport upgrade which has put the BHP above that of a bog standard 1.6 or even 1.8 k series so it has that in its favour.

It's also got lots of bits on it making it very similar in spec to the latest Super Sport model.

I guess the biggest factor dragging its price down is mileage and the age of it. Other than that though looks like a bargain.

sjmmarsh

551 posts

249 months

Monday 17th June 2013
quotequote all
The last one looks like it has been used on track a lot (extinguisher in the boot, kill switch). It also has no heater or screen.. Cars that have been used a lot on track are generally less wanted as people worry about the hard life they have had. I tend to think the opposite as they will have been well maintained, particularly suspension and powertrain, but may have some Panel damage, so check condition.

As a first car it is unlikely to drop much from there.

Steve

downsman

1,099 posts

185 months

Monday 17th June 2013
quotequote all
I wouldn't buy a 7 year old car that has only done 700 miles.
Lack of use isn't a plus point, it just means there will be a whole load of teething problems when you start using it.

The twincam engine is quite straight forward to rebuild, I rebuilt mine when I used to own an Elan, and Miles Wilkins wrote an excellent book that covers it all.
Built properly it can be a very reliable engine, and I thought the parts problem were all sorted now.
If you have the money, QED can even supply new cylinder heads.

Having said that, I think there are much better value K series engined cars out there.

framerateuk

2,935 posts

213 months

Tuesday 18th June 2013
quotequote all
The K Series one looks a bit expensive to me. My Sigma Roadsport 140 ('09) with every conceivable option cost me the same (6 speed, LSD, Big brakes)

Admittedly, it had 11,000 miles on it, but I was glad to see it had been used instead of sitting in a garage collecting dust. Aside from slightly worn seats it was in great condition. Under the bonnet was spotless and the engine is a peach!

Agent Orange

2,194 posts

275 months

Tuesday 18th June 2013
quotequote all
Personally I think the later Roadsport with such low mileage is overpriced. I think you're paying a premium for the low miles.

I that price range I found this... much more my cup of tea. With the money "saved" get a half hood, screen and side screen.

http://www.pistonheads.com/classifieds/used-cars/c...



But probably the right question is not are they priced correctly but more what is your budget and what could you expect to get for it? My budget was £12K and realised I was looking at a K Series as Ford power was coming in mid-high teens.

By removing some cars from my list I found learning about them a lot easier. ie. I only had to concern myself with K-Series info.

Cheers

MDubyaB

Original Poster:

203 posts

187 months

Tuesday 18th June 2013
quotequote all
I'm not really sure what my budget is yet and at the moment I'm really just trying to figure the market out.
It seems that it's not an exact science but, happily, people seem keen to get involved an offer advice.

If the weather is good this weekend I'll jump on my motorbike and head off to either Caterham South or the factory and have a good nose around a few. I'm roughly the same distance from both so am open to advice as to which would be a more worthwhile trip.

Dr Slotter

408 posts

175 months

Tuesday 18th June 2013
quotequote all
South.

LRdriver II

1,936 posts

278 months

Tuesday 18th June 2013
quotequote all
Actually.. what do you want to use the car for?

alot of different cars with different specs and will give you a direction to start taking the car in when you start throwing mods at it smile

I bought a touring car and ripped out heater, sparewheel carrier and wet weather gear ( including wipers and windsheild)... fitted aeroscreen, carbon tilletts and a 6sp box I had bought BEFORE finding a car that suited (had to be 1996 for import reasons to scandinavia) ... now I have a nutcase car which is perfect for the 1-2 hour blats that put a grin on my face ( flies in the teeth and all)

buy that orange superlight and flog the cage and return it to SL spec... happy days and likely no money lost at resale

edited to add.. is it actually a Superlight? or is it a superlight spec?.. eitherway, nice car

Edited by LRdriver II on Tuesday 18th June 19:52

V7SLR

476 posts

215 months

Tuesday 18th June 2013
quotequote all
LRdriver II said:
edited to add.. is it actually a Superlight? or is it a superlight spec?.. eitherway, nice car
Unlikely to be an "original" Superlight. It's actually a "race" chassis .... post '96 (relocated front suspension) and under-dash handbrake.

Manchestergas

67 posts

168 months

Wednesday 19th June 2013
quotequote all
I bought a 2006 with 2k on the clock. I have done 350 miles in it of Which 200 miles was the drive home.
It is in the garage as we speak with suspect head gasket failure. New silicone hoses going on while it is there as they were showing signs of the rubber breaking down.
Was it bad look?
Was I ripped off?
I don't think I was but its not nice not knowing what the out come will be. Only time will tell.
Do I drive it hard when it comes back or do I drive like miss daisy for fear of having it go again?
My heart is telling me to take it easy but the my brain is telling me to drive it with enthusiasm.
Think I will end up doing the latter as I has no interest in selling her and have an upgrading itch including wide track, smaller headlights and a lsd. All in time obviously. Should be getting her back this week after 14 day wait for silicone hoses,
They really mean 14 days delivery when they say it!


Toaster

2,940 posts

222 months

Thursday 20th June 2013
quotequote all
MDubyaB said:
Learning as much as I can about 7s at the moment and just wanted people's opinions on the prices of these cars in the 'Classified' section.

Are they both priced correctly? I'm not saying they're not, I'm just keen to understand why they're priced so similarly.

http://www.pistonheads.com/classifieds/used-cars/c...

http://www.pistonheads.com/classifieds/used-cars/c...
Thats interesting, in 1996, Caterham were using K series 1.4, 1.6, 1.8 roadsport and supersport which are all twin cam engines, (and the basic Vauxhall single cam) its seems that the lotus twin cam has been installed recently its not a bad engine but why would you put one of those in a 96 year model car? personally I would not but it.

As a general rule of thumb Caterham only re-sell standard build cars eg those that the factory have supplied with original or upgrades they have supplied.