End of Esprit line and Price of the Esprit
Discussion
Hey everyone,
I wanted to see what you guys think will happen to the Esprit market since the end of the Esprit line. What are your opinions about the prices of the Esprits. Will they be going up or still depreciating. I am actually in the process of now buying my second Esprit a 1999 esprit v8. I sold my 1993 1/2 esprit last year and have been severely missing it...
Thanks in advance for your opinions,
Edvin
I wanted to see what you guys think will happen to the Esprit market since the end of the Esprit line. What are your opinions about the prices of the Esprits. Will they be going up or still depreciating. I am actually in the process of now buying my second Esprit a 1999 esprit v8. I sold my 1993 1/2 esprit last year and have been severely missing it...
Thanks in advance for your opinions,
Edvin
Edvin-
I've heard that we are seeing the all time lows and that they will level off and possibly go up due to better economy. I'm currently selling my 2000V8 here in California if you are interested. The addition to the factory AP Racing ventilated braking system and updated ECU makes a world of difference to the pre 2000 Esprits. I'm selling for a very reasonable price.
EG-
2000V8
egomes9@attbi.com
>> Edited by egomes on Wednesday 30th July 00:43
I've heard that we are seeing the all time lows and that they will level off and possibly go up due to better economy. I'm currently selling my 2000V8 here in California if you are interested. The addition to the factory AP Racing ventilated braking system and updated ECU makes a world of difference to the pre 2000 Esprits. I'm selling for a very reasonable price.
EG-
2000V8
egomes9@attbi.com
>> Edited by egomes on Wednesday 30th July 00:43
I too think prices are at rock bottom. Frankly it's ridiculous you can buy a 10 year old Esprit with the performance it carries for the same price you'd buy a Mustang, Accord or Sebring.
But that's the reality right now. But as the number of cars can really only stay steady or decline, and as the economy takes an upturn, you'll see the prices go back up. Not a lot mind you (you'll never see the ridiculous Ferrari price inflations) but probably to the levels of a year or so ago.
I think it's just a wierd time right now. It'll get better. We have a pretty heavy influx of new owners, and if they hang onto the cars, you should see prices really rise as availability dwindles.
But that's the reality right now. But as the number of cars can really only stay steady or decline, and as the economy takes an upturn, you'll see the prices go back up. Not a lot mind you (you'll never see the ridiculous Ferrari price inflations) but probably to the levels of a year or so ago.
I think it's just a wierd time right now. It'll get better. We have a pretty heavy influx of new owners, and if they hang onto the cars, you should see prices really rise as availability dwindles.
Reality is that it's unlikely that they'll do anything but depreciate. Cars with a reputation for being cranky and expensive to maintain get hit hard. We can hope otherwise, but other than the Ferrari frenzy of the late '80s, how often do you see a relatively modern car appreciate in value? Owners of V8 Ferraris are learning this lesson very well. When I bought my S4s 3ish years ago, '95 355s were solid 100k cars. Now $70k and falling. Testarossas can be had for under $40k. People paid $200k for them in the late '80s. Ouch.
EDIT: Mike may be right about a slight uptick coming with the economy. OTOH, maybe prices were artificially inflated the last couple years because the economy was so good. Who knows?
>> Edited by MikeyRide on Wednesday 30th July 15:10
EDIT: Mike may be right about a slight uptick coming with the economy. OTOH, maybe prices were artificially inflated the last couple years because the economy was so good. Who knows?
>> Edited by MikeyRide on Wednesday 30th July 15:10
madmike said:
I too think prices are at rock bottom. Frankly it's ridiculous you can buy a 10 year old Esprit with the performance it carries for the same price you'd buy a Mustang, Accord or Sebring.
But that's the reality right now. But as the number of cars can really only stay steady or decline, and as the economy takes an upturn, you'll see the prices go back up. Not a lot mind you (you'll never see the ridiculous Ferrari price inflations) but probably to the levels of a year or so ago.
I think it's just a wierd time right now. It'll get better. We have a pretty heavy influx of new owners, and if they hang onto the cars, you should see prices really rise as availability dwindles.
Mike,
I disagree. I think prices will continue to fall, although the rate of decline may slow somewhat. The reasons are varied, but include:
1. The cars are really not that rare if you are set on acquiring one, you can do so pretty easily.
2. While waiting for prices to rise, the cars get even older.
3. Demand, when measured against the entire performance auto market, has never been that high. In the many years of production, Lotus never sold them all in the same production year despite their limited numbers. And this was when they were new. Nostalgia (either current or in the near future)is not likely to have that great an effect on this demand.
4. Parts availability will become an issue over time. There simply aren't enough cars to command heavy aftermarket support. We are already seeing a scarcity of parts for the early cars and things like tire choice is becoming very limited.
5. New car offerings are coming increasingly close to Esprit levels of performance for much less money than the prices of new Esprits and are more reliable and will more easily meet more stringent environmwental, MOT/DOT, mileage and fuel requirements. This limits the sale of old Esprits to a very small 'niche' market which will be smaller than when the cars were new and 'mainstream'.
I'm afraid that you won't ever realize a gain on the purchase of your Esprit in monetary terms. In fact, the only Lotus to appreciate significantly is the early Elite. Elans and Europas are going for rediculously low prices. I have a 'G' car in excellent shape, reliable as any of the other cars I own, but I have about $4,000USD more into it than I could ever get should I sell it, and at my age, I'll be long dead before that trend reverses itself, if ever.
The best thing to do is keep your Esprit in the best shape your pocketbook will allow and drive the heck out of it. That's where you'll really see a return on your investment. Happy Motoring! Jim'85TE
>> Edited by lotusguy on Wednesday 30th July 15:59
Yeah Jim, but you hope I'm right 
It really depends on one thing, actually. Were the prices of a year or two ago artificially inflated, or are they now artificially deflated?
I for one think they are deflated, and will eventually rebound.
As for your points, while the cars aren't extremely rare, nor are they at all common. And nice examples even less common.
The cars are getting older, yes, but not in relation to the overall model range, which is fixed now that production has ceased.
Demand for new cars was never that high, as you suggested, but for used cars demand has been higher than that for new. Reason? I can't afford a new 90K car, but can afford a used one at half that price. Lots of people who covet the cars are in that bracket.
While parts supply will eventually become a problem, this could actually increase prices, as fewer an fewer roadable cars become available. Problem cars will become more likely to be consolidated into good cars.
Newer cars are approaching the numbers of ALL exotic cars. 5 second 0-60 times no longer belong to the exotic owner. I don't see this as being a depreciation factor, as few if any common new cars approach the overall performance offered by the Esprit (handling, top speed, styling, etc.)
In short tho, I do agree that I'll never see a gain on my investment. I never really expect to sell Evilyn for what I paid for her. I would however, expect the current gulf in that number to shorten back up a bit.
Not that it matters to me, as I have no intentions of selling.
Mike
It really depends on one thing, actually. Were the prices of a year or two ago artificially inflated, or are they now artificially deflated?
I for one think they are deflated, and will eventually rebound.
As for your points, while the cars aren't extremely rare, nor are they at all common. And nice examples even less common.
The cars are getting older, yes, but not in relation to the overall model range, which is fixed now that production has ceased.
Demand for new cars was never that high, as you suggested, but for used cars demand has been higher than that for new. Reason? I can't afford a new 90K car, but can afford a used one at half that price. Lots of people who covet the cars are in that bracket.
While parts supply will eventually become a problem, this could actually increase prices, as fewer an fewer roadable cars become available. Problem cars will become more likely to be consolidated into good cars.
Newer cars are approaching the numbers of ALL exotic cars. 5 second 0-60 times no longer belong to the exotic owner. I don't see this as being a depreciation factor, as few if any common new cars approach the overall performance offered by the Esprit (handling, top speed, styling, etc.)
In short tho, I do agree that I'll never see a gain on my investment. I never really expect to sell Evilyn for what I paid for her. I would however, expect the current gulf in that number to shorten back up a bit.
Not that it matters to me, as I have no intentions of selling.
Mike
I made a decision to sell my V8 during the worst possible time. I know that as many possible buyers have emailed me or called me telling me they don't have all the money yet but if I sell in a few months they will be able to buy at the price I'm asking for. Looking at ebay bidders across the board, it seems bidders have become very "skimpy" about bidding. Even the Ferrari cars on ebay are not reaching their reserve or even getting close. I've noticed that in the past week the bidders are bidding a bit more at the same time that the economy rose a tad. If the economy gets a big jump start in the upcoming months, I believe we'll see a definite increase in consumer confidence and Esprits will have a better chance of selling. I'm not saying they will be sold for the NADA guide value but at least there will be a bit more demand and consumer willingness.
Ed-
2000V8
Ed-
2000V8
Down is the most likely direction for Esprit prices with fluctuations from economic influences.
I think all the reasons have been talked about already but for me it makes sense to own one:
1. I love the car, fun to drive and unique.
2. It will always be an exotic by design and limited numbers.
3. I can modify the car for extreme performance if I want and no one can keep up.
4. Lets say you got a car at $50,000 USD and 5 years later sold it for $30,000. That’s $4,000 per year for a hell of a lot of fun. I could also by a nice BMW for the same price with less depreciation of $2,000 per year or what ever. The difference between the two cars is not much. So for a few more dollars I can have an Esprit.
5. I can’t find a way to justify owning and Esprit as an investment. There are too many better places to invest than a car.
6. And perhaps the most important reason to own an Esprit NOW is you only live once and you never know when your ticket is going to be punched.
Dan
>> Edited by fj40 on Wednesday 30th July 18:16
I think all the reasons have been talked about already but for me it makes sense to own one:
1. I love the car, fun to drive and unique.
2. It will always be an exotic by design and limited numbers.
3. I can modify the car for extreme performance if I want and no one can keep up.
4. Lets say you got a car at $50,000 USD and 5 years later sold it for $30,000. That’s $4,000 per year for a hell of a lot of fun. I could also by a nice BMW for the same price with less depreciation of $2,000 per year or what ever. The difference between the two cars is not much. So for a few more dollars I can have an Esprit.
5. I can’t find a way to justify owning and Esprit as an investment. There are too many better places to invest than a car.
6. And perhaps the most important reason to own an Esprit NOW is you only live once and you never know when your ticket is going to be punched.
Dan
>> Edited by fj40 on Wednesday 30th July 18:16
Alot of great points have been made. Yet still, we will never know what the future holds. All I know is that nothing will keep me from bringing my new baby home. The pleasure my old Esprit gave me was priceless and I cant wait to put that first coat of Zymol wax on my new one...lol..
Thanks for all of your opinions,
Edvin
Thanks for all of your opinions,
Edvin
All one has to do is look at history.
Lotus history.
Well sort cars (Elans/Europas)are selling more than the retail price when new.
You might have to wait a long time for the price to get there, but it has a good chance to get there eventually.
The short term is another matter. It does not concern me much about what I will get when I sell. There is a dollar value to be placed on entertainment.
Calvin
Calvin
Lotus history.
Well sort cars (Elans/Europas)are selling more than the retail price when new.
You might have to wait a long time for the price to get there, but it has a good chance to get there eventually.
The short term is another matter. It does not concern me much about what I will get when I sell. There is a dollar value to be placed on entertainment.
Calvin
Calvin
To me it's all about living my dream of owning a true exotic sports car. Yes, you can buy a really nice reliable car for the same price, maybe more maybe less, But It would not be a true exotic sports car and I think that's what this car is all about. You don't buy a Esprit to drive to the store or to the hardware store you buy the Esprit to enjoy the ownership of owning a true Exotic. I love my Esprit, It's hot looking, it's fast, and it fills my dream of owning a true exotic sports car with out selling everything I own to buy one. I know I will never see the money that I put into the car, but who cares, I'm having a blast at 42 with my first exotic and I hope that one day I can sell this one and upgrade to a 95'. Their will always be someone out there that wants a nice TRUE exotic sports car and that will hopefully keep the value of the esprit up and sales moving.
Bill
90'SE
Bill
90'SE
wbillybobw said:
To me it's all about living my dream of owning a true exotic sports car. Yes, you can buy a really nice reliable car for the same price, maybe more maybe less, But It would not be a true exotic sports car and I think that's what this car is all about. You don't buy a Esprit to drive to the store or to the hardware store you buy the Esprit to enjoy the ownership of owning a true Exotic. I love my Esprit, It's hot looking, it's fast, and it fills my dream of owning a true exotic sports car with out selling everything I own to buy one. I know I will never see the money that I put into the car, but who cares, I'm having a blast at 42 with my first exotic and I hope that one day I can sell this one and upgrade to a 95'. Their will always be someone out there that wants a nice TRUE exotic sports car and that will hopefully keep the value of the esprit up and sales moving.
Bill
90'SE
Bill,
Does the phrase 'Preaching to the Choir' come to mind..?? Well said! Happy Motoring! Jim'85TE
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