Elise prices. What's going on?
Discussion
bennno said:
I think you are over egging this, seem to be missing the point that as you put it in the last 15 years a S1 or K series S2 have gone from being a few years old sportscast with potential for daily driving and finance, to effectively becoming 20-25 year old classics.
The same thing affects other newer cars from Lotus and other brands as well though. Its the price point that's the issue. Lefty said:
Decent s1’s bottomed out in around 2015 or so I’d say, I bought mine then and had a huge choice of fairly tidy but well used cars around the £8k mark. That’s probably still half what they are today.
This. They went up massively and are so far up there now that no-one wants to sell them for those sort of prices because they are used to the super high prices of previous years. Without COVD you'd have them from £5k upwards and then they'd be selling!Frimley111R said:
T_S_M said:
What do people think will happen to the values of late Elises? Are they likely to hold their value due to them being "the last ones"?
(Crystal ball stuff I know).
IMO they will go the way of the earlier models unless you have a limited run model with tiny mileage. (Crystal ball stuff I know).
I had a quick look at some online and the cheapest S1 was £13/14k with 145k miles on it. It's hardly surprising no-one is buying them. That should be a £5-6k car but the COVID push has made the prices quite silly.
You don't get much car for £5-6k these days. Lotus or not.
You're trying to wind it back to 2009 and the financial crash (I'd like to too sometimes!).
Edited by John D. on Tuesday 10th December 13:47
Can’t see Elises being available for £5k unless they are only fit for keeping chickens or have been put back together more times than Humpty Dumpty.
Sports cars have gone out of fashion and two seaters are no longer seen as romantic and aspirational as they once were.
Old Elises are a compromise and really, you need to be handy with the spanner’s to own one. Or have deep pockets. If you want a two seat sports car for under £10k a Boxster is a better bet for most people. Far more comfortable, practical and useable.
I saw Jon has just reduced the price on a nice looking 220 in PTS olive green by a whopping £3k. That’s a cheap 220 at £36k.
The only sports car that seems to continue to do well is the 911 which remains aspirational with cross generational appeal.
Loads of people covet 993’s. I had one for a decade and bought an S1 which sat next to it for a few years.
After a few months it was clear to me that I preferred driving the S1 as something to drive for pleasure. By some margin as well.
That’s why I sold the 993. I also thought the market had peaked circa 2016. What a walloper of a misjudgement that was. Car was loaded with rare factory options with FSH and 70k miles when I sold it for £52k. Would have been an £80k car today.
I keep looking at Emira’s. Had my first new Elise in 98 in my 20’s. Everytime I get into my Final Edition I’m silently grumbling. In my 20’s those complaining about entry and egress seemed hopelessly old and out of shape. Less so now.
The ‘old’ 911’s - are now worth the same or more than there newer counterparts. Late Evora are close to Emira prices. Maybe late Elises end up bouncing a bit in the spring.
Sports cars have gone out of fashion and two seaters are no longer seen as romantic and aspirational as they once were.
Old Elises are a compromise and really, you need to be handy with the spanner’s to own one. Or have deep pockets. If you want a two seat sports car for under £10k a Boxster is a better bet for most people. Far more comfortable, practical and useable.
I saw Jon has just reduced the price on a nice looking 220 in PTS olive green by a whopping £3k. That’s a cheap 220 at £36k.
The only sports car that seems to continue to do well is the 911 which remains aspirational with cross generational appeal.
Loads of people covet 993’s. I had one for a decade and bought an S1 which sat next to it for a few years.
After a few months it was clear to me that I preferred driving the S1 as something to drive for pleasure. By some margin as well.
That’s why I sold the 993. I also thought the market had peaked circa 2016. What a walloper of a misjudgement that was. Car was loaded with rare factory options with FSH and 70k miles when I sold it for £52k. Would have been an £80k car today.
I keep looking at Emira’s. Had my first new Elise in 98 in my 20’s. Everytime I get into my Final Edition I’m silently grumbling. In my 20’s those complaining about entry and egress seemed hopelessly old and out of shape. Less so now.
The ‘old’ 911’s - are now worth the same or more than there newer counterparts. Late Evora are close to Emira prices. Maybe late Elises end up bouncing a bit in the spring.
I brought a cheap S1 a few years back, thought id bagged a bargain at £8.5k
It then needed 4 shocks, manifold gasket, steering rack, disks and pads, service - from memory it was about £7-8k
Ergo cheap ones can turn out more expensive than a nice one.
The only car thats cheap in this sector is the early Porsche Boxster and thats due to parts prices and engine issue roulette.
John D. said:
Frimley111R said:
T_S_M said:
What do people think will happen to the values of late Elises? Are they likely to hold their value due to them being "the last ones"?
(Crystal ball stuff I know).
IMO they will go the way of the earlier models unless you have a limited run model with tiny mileage. (Crystal ball stuff I know).
I had a quick look at some online and the cheapest S1 was £13/14k with 145k miles on it. It's hardly surprising no-one is buying them. That should be a £5-6k car but the COVID push has made the prices quite silly.
You don't get much car for £5-6k these days. Lotus or not.
You're trying to wind it back to 2009 and the financial crash (I'd like to too sometimes!).
Edited by John D. on Tuesday 10th December 13:47
My neighbour has a 911 auto in a deep purple and with a tan interior (996). Not a desirable spec but he can't give at away and there are a ton up for sale right now.
Edited by Frimley111R on Wednesday 11th December 08:13
T_S_M said:
What do people think will happen to the values of late Elises? Are they likely to hold their value due to them being "the last ones"?
(Crystal ball stuff I know).
I’d wager they’ll drop to within 10-20% of earlier cars over time, they are a pretty specialist car and as they age won’t be worth double that of arguably very similar earlier cars. Latest s3 cars worse looking of the bunch for me.(Crystal ball stuff I know).
Indeed. They’ll go through the same curve that most modern classics do - the values will initially dip, then as the attrition rate slows and the pool of good ones, with decent provenance & condition shrinks, the prices will firm back up again, probably even more so as they’re the last of their type.
I can’t imagine many people bought a Final Edition Elise with the intention of selling them so assume these will be rarely available so possibly will fetch a premium over other S3 SC models? Who knows…
I bought one as I had an early S1 when I met my wife so wanted to bag the last of the type for nostalgia. In my opinion they are the best version for driving. Much more refined than earlier cars (and good power). I actually can’t think of a better Sunday morning driving car tbh.
I’m not really bothered about values as have no intention of selling, but my guess would be in 10-15yrs any Elise will be a very coveted car to own given the pure (but not extreme) analogue experience and relatively low running costs.
I bought one as I had an early S1 when I met my wife so wanted to bag the last of the type for nostalgia. In my opinion they are the best version for driving. Much more refined than earlier cars (and good power). I actually can’t think of a better Sunday morning driving car tbh.
I’m not really bothered about values as have no intention of selling, but my guess would be in 10-15yrs any Elise will be a very coveted car to own given the pure (but not extreme) analogue experience and relatively low running costs.
fridaypassion said:
The S1's were cheap but they all got exported out to the EU so hardly any left now hence the prices will never go back to that level. Well...hopefully not!
O/T but the orange gcc s2 exige you have in, does that have EU CofC?I know it, and the chap who imported it, well. I was under the impression that they were impossible to get the certificate for.
shirt said:
O/T but the orange gcc s2 exige you have in, does that have EU CofC?
I know it, and the chap who imported it, well. I was under the impression that they were impossible to get the certificate for.
Yes it's an EU base car basically it's going out to Switzerland shortly that one. I'm guessing they must have thought about the importation thing when they ordered the cars (the other one being the yellow one with the same spec) good thinking! I know it, and the chap who imported it, well. I was under the impression that they were impossible to get the certificate for.
Deadlysub said:
I’m in the market for an S2 Exige NA, I’ve always wanted one. I sold my VX220 in 2011 and haven’t had a sports car since.
Reading this thread has made me wonder whether to wait rather than jump in now just before a price correction in the market.
I you'd like a mint factory Sport 135 then please DM me. Recent cambelt, brakes and tyres all round. Reading this thread has made me wonder whether to wait rather than jump in now just before a price correction in the market.
Theres already been a price correction - but I suspect many owners will just hold cars if they drop any further as decent ones very hard to find / replace.
Agreed, we’ve had the price correction, Elises have looking best value for years. Great time to buy as slow sales across all sports cars means low offers more likely to be accepted. Given production stopped in 2021 values should be rising really, Final Edition cars not commanding much of a premium currently, they will one day.
Edited by twinturban on Tuesday 31st December 21:57
Deadlysub said:
I’m in the market for an S2 Exige NA, I’ve always wanted one. I sold my VX220 in 2011 and haven’t had a sports car since.
Reading this thread has made me wonder whether to wait rather than jump in now just before a price correction in the market.
I really do think we are past this point now you would have had a very valid point about 9/12 months ago but everything is as cheap as it's going to get now. I'm just sat at the moment doing all of the January price increases which we do every year....Reading this thread has made me wonder whether to wait rather than jump in now just before a price correction in the market.
Edited by fridaypassion on Tuesday 31st December 15:38
What budget are you thinking? I’ve a lovely S2 SC 34k miles 2006/56 I’m thinking of selling in the spring (or the noble)
Drop me a PM
Drop me a PM
Deadlysub said:
I’m in the market for an S2 Exige NA, I’ve always wanted one. I sold my VX220 in 2011 and haven’t had a sports car since.
Reading this thread has made me wonder whether to wait rather than jump in now just before a price correction in the market.
Reading this thread has made me wonder whether to wait rather than jump in now just before a price correction in the market.
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