O4, 111S what is it worth?
Discussion
I've been in this market for a few months.
I've seen two 05 111S sell in days at an advertised pice of £14995 (that's what they were advertised for - I don't know what they sold for). One was at a Fiat dealer and sold two days after the ad came out. I tried at the asking price to include a cambelt service and they said no. I can only assume it sold the next day as was, at the screen price. The other was the silver car at a Jeep dealer. It was offered for ages at £15995. I'd been thinking it was about £15k to me, but it was a long trip. Eventually it got reduced to £14995 and sold in under a week.
Very early 111Ss (wind up windows, 'early' heather controls, 7 spoke alloys and mostly with aircon) are about £12k upwards. One was advertised two weeks ago for £10995 at a 'trader' dealer and sold before he'd uploaded photos. It had 34k miles. There's one at the Lotus Centre in Devon which looks good value at £12995 with 20k miles, but it's been for sale for weeks.
I've seen plenty of cars at £15k, a few at £14k - mostly with over 35k miles and modifications. Those under £14k are either early models as described above, or higher miles (e.g. Hi-Torq have a 54k miler in for £12k).
I could go on!
I'd say if it's got the later alloys, a recent cambelt service, FSH and is in genuinely good condition then £14k is about right. A bit more for a/c and hardtop or possibly just an easier sale. But it all depends on the popularity of the colour scheme, your location etc.
I've now bought a '53 111S which I probably paid a bit over the odds for - but the vendor (trader) is the only guy who has without any hesitation agreed to do a few jobs for me and included tax, warranty and a stainless exhaust too. It's also exactly as I'd have specced myself, so no regrets when a 'better one' pops up next week.
It's the worst time of year to be selling an Elise - never mind the eceonomic climate - but in its the favour the 111S is relatively very cheap to tax, fuel and insure. Relative to other sportscars it's cheap to service too. One of the problems is that 111Rs are easily available for about (I've seen four under) £15k. Whilst these will push K series cars' values down, there'll be a cross-over point where the K-series running costs and characteristics of its own counter the 111Rs paper power.
I'd advertise it for £14k and hang on if you can take months rather than weeks. £12k if you want it sold before Christmas.
Hope that rambling is some help!
I've seen two 05 111S sell in days at an advertised pice of £14995 (that's what they were advertised for - I don't know what they sold for). One was at a Fiat dealer and sold two days after the ad came out. I tried at the asking price to include a cambelt service and they said no. I can only assume it sold the next day as was, at the screen price. The other was the silver car at a Jeep dealer. It was offered for ages at £15995. I'd been thinking it was about £15k to me, but it was a long trip. Eventually it got reduced to £14995 and sold in under a week.
Very early 111Ss (wind up windows, 'early' heather controls, 7 spoke alloys and mostly with aircon) are about £12k upwards. One was advertised two weeks ago for £10995 at a 'trader' dealer and sold before he'd uploaded photos. It had 34k miles. There's one at the Lotus Centre in Devon which looks good value at £12995 with 20k miles, but it's been for sale for weeks.
I've seen plenty of cars at £15k, a few at £14k - mostly with over 35k miles and modifications. Those under £14k are either early models as described above, or higher miles (e.g. Hi-Torq have a 54k miler in for £12k).
I could go on!
I'd say if it's got the later alloys, a recent cambelt service, FSH and is in genuinely good condition then £14k is about right. A bit more for a/c and hardtop or possibly just an easier sale. But it all depends on the popularity of the colour scheme, your location etc.
I've now bought a '53 111S which I probably paid a bit over the odds for - but the vendor (trader) is the only guy who has without any hesitation agreed to do a few jobs for me and included tax, warranty and a stainless exhaust too. It's also exactly as I'd have specced myself, so no regrets when a 'better one' pops up next week.
It's the worst time of year to be selling an Elise - never mind the eceonomic climate - but in its the favour the 111S is relatively very cheap to tax, fuel and insure. Relative to other sportscars it's cheap to service too. One of the problems is that 111Rs are easily available for about (I've seen four under) £15k. Whilst these will push K series cars' values down, there'll be a cross-over point where the K-series running costs and characteristics of its own counter the 111Rs paper power.
I'd advertise it for £14k and hang on if you can take months rather than weeks. £12k if you want it sold before Christmas.
Hope that rambling is some help!
That is a really useful & interesting post (just starting to look myself). My focus is on very good S1's and early S2's. The pricing spread seems very wide and it is actually quite hard to determine current market price for any given model or year. Are all the lower priced cars 'cheap for a reason' despite glowing descriptions, or the high end ones overoptimistic and not selling. I've not been looking long enough yet to make that judgement, and wonder if anyone on here has?
griffter said:
Very early 111Ss (wind up windows, 'early' heather controls, 7 spoke alloys and mostly with aircon) are about £12k upwards.
I'd say if it's got the later alloys, a recent cambelt service, FSH and is in genuinely good condition then £14k is about right.
You only get one type of alloy on an S2 111s, the 8 spoke that looks the same as the 111r alloy.I'd say if it's got the later alloys, a recent cambelt service, FSH and is in genuinely good condition then £14k is about right.
cjm said:
You only get one type of alloy on an S2 111s, the 8 spoke that looks the same as the 111r alloy.
Well I've seen early cars with both, but these have the 7 spokes:http://www.exchangeandmart.co.uk/iad/motors/cars-f...
http://www.exchangeandmart.co.uk/iad/motors/cars-f...
GR4 said:
That is a really useful & interesting post (just starting to look myself). My focus is on very good S1's and early S2's. The pricing spread seems very wide and it is actually quite hard to determine current market price for any given model or year. Are all the lower priced cars 'cheap for a reason' despite glowing descriptions, or the high end ones overoptimistic and not selling. I've not been looking long enough yet to make that judgement, and wonder if anyone on here has?
Most of the cars I saw fell short of my high expectations. I was amazed that some of the cars I saw sold soon after I'd viewed them given the advertised prices...But I think they're very colour and spec sensitive. For example although red body, black leather looks great on a Ferrari, there are loads of Elises in that combo. It works, but it didn't do much for me. Similarly there are a few cars with blue body, blue leather. No disrespect to owners etc but that just doesn't work for me.
OTOH there's a 111R Type 25 replica with red leather at B&C which I think looks great but it's already heavily discounted and still hasn't sold, so maybe my tastes are in a minority.
I've also been very suprised at the reluctance of owners (and traders) to take offers.
So it'll depend on the vendor's circumstances, their location (I found it all to easy to dismiss a car in under 2 minutes and so ended up being unwilling to make long journeys), spec, colour, whether the tyres/brakes/servicing needs doing etc.
There's plenty that can be wrong with an Elise, hence many may be cheap for a reason. I didn't see any which were a real no-no; just cars which either didn't work for me in the flesh or which had too much to bring up to scratch.
I think my standards are quite high though; to my mind cracks and grazes in GRP need sortig - they are not 'wear and tear'. Similarly the number of cars which hadn't been serviced annualy and were overdue a cambelt because they were 'low mileage' was astounding. Anything can be fixed, but it's got to be factored into the price.
All these things will factor into whether or not a specific buyer can agree a deal with a specific vendor. It is a tricky market - perhaps because Elises remain in high demand (begin wallet-friendly and great in their own right) and yet many owners sadly find themselves in a position to have to sell.
I think once you start looking you'll get a better idea of what's what. Then when the right car comes along you can be decisive.
griffter said:
cjm said:
You only get one type of alloy on an S2 111s, the 8 spoke that looks the same as the 111r alloy.
Well I've seen early cars with both, but these have the 7 spokes:http://www.exchangeandmart.co.uk/iad/motors/cars-f...
http://www.exchangeandmart.co.uk/iad/motors/cars-f...
cjm said:
griffter said:
cjm said:
You only get one type of alloy on an S2 111s, the 8 spoke that looks the same as the 111r alloy.
Well I've seen early cars with both, but these have the 7 spokes:http://www.exchangeandmart.co.uk/iad/motors/cars-f...
http://www.exchangeandmart.co.uk/iad/motors/cars-f...
The red one does appear to have a 111S diffuser though, but no carpets. Is that a 111 rather than a 111S? Not sure which wheels the 111 had.
Edited by kambites on Thursday 4th December 16:20
I think that the colours of a car make it worth more saleable in the long term. I personally wouldn't but a red interior, as it looks like theres been murder commited in the car.There was a car in graphite with a red interior, which I asked the Seloc massive if the price was suitable and the amount of people who cringed at red leather.I wasn't looking for a red Lotus, actually black or silver. The red one came up, with a black interior and to me was the right combination.Be aware of bright interiors etc.Some have bright blue flock dash etc and as time goes by is going to be a b
d keeing it clean and smart.
I got mine in September for £13k, but had a good deal with PX on my wifes car.28k on clock,all leather (black) probax seats, aircon, leccie windows etc. Some 111's's don't come with leccie windows and aircon.late 2003 (december) meant it was a 2004 spec.
d keeing it clean and smart.I got mine in September for £13k, but had a good deal with PX on my wifes car.28k on clock,all leather (black) probax seats, aircon, leccie windows etc. Some 111's's don't come with leccie windows and aircon.late 2003 (december) meant it was a 2004 spec.
Edited by Justin S on Thursday 4th December 20:17
kambites said:
The red one does appear to have a 111S diffuser though, but no carpets. Is that a 111 rather than a 111S? Not sure which wheels the 111 had.
Might be on to something there. It is a VVC car - has the airbox and second cambelt. But there's a '111' on Autotrader at a Subaru garage with the 8 spokes.Edited by kambites on Thursday 4th December 16:20
Edited by griffter on Thursday 4th December 22:31
Justin S said:
I think that the colours of a car make it worth more saleable in the long term. I personally wouldn't but a red interior, as it looks like theres been murder commited in the car.There was a car in graphite with a red interior, which I asked the Seloc massive if the price was suitable and the amount of people who cringed at red leather.I wasn't looking for a red Lotus, actually black or silver. The red one came up, with a black interior and to me was the right combination.Be aware of bright interiors etc.Some have bright blue flock dash etc and as time goes by is going to be a bd keeing it clean and smart.
I got mine in September for £13k, but had a good deal with PX on my wifes car.28k on clock,all leather (black) probax seats, aircon, leccie windows etc. Some 111's's don't come with leccie windows and aircon.late 2003 (december) meant it was a 2004 spec.
Hmmm...mine (which I like so much remember) is Storm titanium with red leather - and a red roof!!!d keeing it clean and smart.I got mine in September for £13k, but had a good deal with PX on my wifes car.28k on clock,all leather (black) probax seats, aircon, leccie windows etc. Some 111's's don't come with leccie windows and aircon.late 2003 (december) meant it was a 2004 spec.
Edited by Justin S on Thursday 4th December 20:17
griffter said:
LordGrover said:
kambites said:
They also only have six spokes, if you count like a normal person.
You gonna join us?...
I have the Griff and Audi for sale at the moment - not sure what to get next. I want a Sag but can't afford it so maybe a Tuscan/T350? Also looking at XK8/XKR, maybe Elise/Europa ... ? I really don't know. The way things are it's all dreaming really because I'll never get what I want for the Griff, nor the Audi probably. Probably have to wait a while to save enough/wait out the crunch.
It's fun looking though.
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