Elise prices. What's going on?

[John D.]

Well I bought an S1 end of May. Had been watching the market for a few months. Two I would have been happy to buy sold quickly in March/April, so there clearly is some movement at the right price.

[fridaypassion]

Ha I got that 250 cup it just needed a valve replacing in the fill port..50p fix! People are absolute sts though it never fails to astonish me that people can lie when there's issues with the cars. Selling to a big multi site multi million dealers is one thing but directly trying to rip me off when I'm just a one man band is not fair at all. Gearboxes are the main ones people try it on with how they think we're not going to test this stuff is beyond me! Luckily all the lotus issues you get are cheap fixes when you know what you're doing. Luckily the vast majority of people I deal with are great and usually very forthcoming with any issues.

But yes I'm slowly coming to the realization that the future for us is likely to be going multi marque which is a shame but we have to move with the times. Nobody wants the older cars now and the new cars are so niche. So far we have had to stop Honda's/Rover k series and modified cars all of which were great business 3/4/5 years ago.....

Edited by fridaypassion on Saturday 6th July 12:34

[Prestonese]

New Elise S1 111S owner on here. Recently found a nice metallic mustard yellow one from a proper gent who'd had it from new and bought it back after letting it go for a few years. Car has the thickest file of maintenance records I've ever seen - not sure if that is a good or bad sign. It is all with the same, well known indie specialist though and they seem to know what to do with these cars. I feel like the prices being asked of other S1s in the classifieds are a bit rich given the condition and maintenance records. I have a dealer calling me up repeatedly to sell me a couple of Elises they have had in stock for seemingly ages so I'm not surprised about some of the feedback here. I feel like Elise buyers would rather buy privately than pay a dealer premium unlike other enthusiasts marques. But as always, good history and a coherent story about the car will always sell if priced correctly.

[Puzzles]

What gearbox issues are there?

[PoorCarCollector]

Prestonese said:

I feel like Elise buyers would rather buy privately than pay a dealer premium unlike other enthusiasts marques. But as always, good history and a coherent story about the car will always sell if priced correctly.

I'm not sure that's the case, a lot of private sale Elises seem to be priced higher than at dealers!

I guess lots of unrealistic owners who still think prices are on the rise

One thing that they all seem to talk about is the price jump as they are now 25 years old and will be heading off to America.

I just don't see that happening much, but could be wrong

[Puzzles]

All the American's I talk to are more interested in Skylines, Supras etc. Not an S1 Elise.

That said it's a large country with many people, wouldn't need many to hoover up the ones for sale.

Doesn't seem to be happening though.

[PoorCarCollector]

I've just had a look at the 111Rs for sale

A lot of the private adverts on Autotrader are asking between £25-30,000

Are all these people on drugs??

[Prestonese]

I don't think the 25 year thing for the US is a thing. Collectors have been buying up cars and keeping them in storage until they can be registered for many years already. So cars would have been bought a long time ago if there was interest in Elises rather than there being a sudden cliff effect.

[Jack91F]

Id guess those sellers aren’t motivated to sell them and just speculating.

[jasonrobertson86]

fridaypassion said:

The back end of last year was the worst I have ever known it I was seriously looking at setting another business up! We have had some busy times this year but certainly June has seen another real slowdown. Just this week I have had to turn 4 of my previous customers away wanting to sell me cars back which anyone that follows our business will know is something we ALWAYS normally do. There is certainly a bit of a log jam in the market at the moment. I like to be busy so it's frustrating to have to put a hold on buying but I have 24 cars at the moment so there has to be a limit!

sounds like they're priced too high then

[John D.]

Prestonese said:

I don't think the 25 year thing for the US is a thing. Collectors have been buying up cars and keeping them in storage until they can be registered for many years already. So cars would have been bought a long time ago if there was interest in Elises rather than there being a sudden cliff effect.

I read somewhere recently that an Elise can be/ is classed as a kit car in the States, and that got around the 25yr rule.

[fridaypassion]

John D. said:

I read somewhere recently that an Elise can be/ is classed as a kit car in the States, and that got around the 25yr rule.

Absolutely not true. There are ways and means I know a guys that registered a V6 Exige and an Atom somehow but generally they have it locked down pretty tight.

[fridaypassion]

jasonrobertson86 said:

sounds like they're priced too high then

Is there no area of the forum thats safe from your constant spamming you're like a bloody forum blastoma FFS!

[John D.]

fridaypassion said:

John D. said:

I read somewhere recently that an Elise can be/ is classed as a kit car in the States, and that got around the 25yr rule.

Absolutely not true. There are ways and means I know a guys that registered a V6 Exige and an Atom somehow but generally they have it locked down pretty tight.

Yeah was the first I'd heard of it and did think it seemed a bit fishy. Makes the whole fuss over the 25yr rule a nonsense if true.

[RonnieHotdogs]

PoorCarCollector said:

I've just had a look at the 111Rs for sale

A lot of the private adverts on Autotrader are asking between £25-30,000

Are all these people on drugs??

Yep. Lovely looking yellow one owner 07 plate 111R just went for £15600 on eBay. It was higher mileage (89k) but looked to be well maintained.

There was another on auto trader for about £15400 which got reserved within about 48 hours.

As others have said, it's probably owners who aren't too fussed about selling and are testing the market.

[fridaypassion]

Yellow one was clear accident damaged and repainted. Theres a lot more value out there. I was offered a black one thats listed on PH for 20k with 54000 miles that looked decent value. I've had a mission selling an awesome one for 19k with 72000 miles. The guys looking for 23/24k are well into the realistic market for supercharged cars now. I have just sold an S3 SC for £27500 so why would you spend 24 or more on an older NA?

[Prestonese]

John D. said:

Prestonese said:

I don't think the 25 year thing for the US is a thing. Collectors have been buying up cars and keeping them in storage until they can be registered for many years already. So cars would have been bought a long time ago if there was interest in Elises rather than there being a sudden cliff effect.

I read somewhere recently that an Elise can be/ is classed as a kit car in the States, and that got around the 25yr rule.

I think you can use them on track but not on the road until the car can be registered. You can still bring the car into the country before it turns 25 though

[CubanPete]

There's a lot of people still expecting COVID money for S1 and S2s.

Interest rates are up, money isn't free in the way it was a few years ago. The expected 25 year old boom where they were all exported to the states hasn't happened

There are plenty of buyers out there, sellers just need to be realistic about prices.

[highway]

I don’t think Elises are bought via finance deals. They are mostly second or third cars and people buy them out of savings because they want one. If those same people are going to sell, they mostly won’t want to take a pummelling on the price vs what they paid. So if they can’t get what they want, they don’t flex or keep reducing price. They just sit tight and keep the car:
Prices have really been up and down on the early cars over the past few years. S1’s have been £12k with 18k miles, circa 2015. Circa 2021 those same cars were close to £20k.
Given how prices of old 911’s have rocketed, the same with many mediocre hot hatches, I remain surprised Elise values are as low as they are.
Just as unique to drive as an old 911, arguably much more fun. British built, which matters now perhaps more than it used to, and low volume with exotic looks.
I suspect there remains a finite pool of people who want one and many think they could take their kids out in and old 911 giving it more practicality.
I’m really enjoying my Final Edition. The A/C works well and it’s a lot of fun to drive.

[PlywoodPascal]

If you’re really worried about price/value fluctuation, just plan to keep it 10 years, you’ll more than likely be fine. I just think of money spent on anything as spent, it’s not coming back, I’ve got a thing instead.
Sometimes you have things to sell again later, great, that’s nice. It’ll sell for what it’s worth. If it’s less, I haven’t ‘lost’ money, I’ve spent money.