Elise valuation required..
Discussion
Had my Elise up for sale for a little while now and yet it remains for sale.
spec is here
http://www.pistonheads.com/sales/682950.htm
I thought that the price I was asking was realistic. I realise the market is slow, but with the elise only being £145 to tax a year and 40mpg I would have thought this sort of sports car would be more in demand than the stuff with high running costs. Am I being wildly optimistic with my price?
Last year I asked for a PH valuation, advertised at the suggested price and sold my old Elise quickly, so I would welcome any comments.
spec is here
http://www.pistonheads.com/sales/682950.htm
I thought that the price I was asking was realistic. I realise the market is slow, but with the elise only being £145 to tax a year and 40mpg I would have thought this sort of sports car would be more in demand than the stuff with high running costs. Am I being wildly optimistic with my price?
Last year I asked for a PH valuation, advertised at the suggested price and sold my old Elise quickly, so I would welcome any comments.
I'd have thought that the price was right - even for a standard 111S, mileage is more than reasonable, a lot of the 'extras' are sensible and things that most people would be interested in getting anyway (the sub, splitters etc may be a bit more than most but can't see them being too much of a negative).
I'd say it's probably more to do with people holding their breath financially at the moment more than anything to do with the car.
For a complete newcomer to Lotus it may present them with information overload, but if they are looking at a 111S then they'd already have some idea what they are after.
Stick it out I'd say.
I'd say it's probably more to do with people holding their breath financially at the moment more than anything to do with the car.
For a complete newcomer to Lotus it may present them with information overload, but if they are looking at a 111S then they'd already have some idea what they are after.
Stick it out I'd say.
thanks guys for the response (apart from you Dave. t
t.). Food for thought.
Not quite sure what you mean by the splitters?? I appreciate the sub is a bit "bling" but only really installed as part of a decent stereo installation. The remainder of the modifications are more function over form I thought and enhancements, albeit I appreciate their value in the second hand market is negligible. There is no ally tat, no carbon interior bits or anything like that.
I am just not using the car so thought I would sell it but if its really taken that sort of a bashing in the price since I bought it I think I'll hibernate her and see if I use it any more in a few years time.
t.). Food for thought.Not quite sure what you mean by the splitters?? I appreciate the sub is a bit "bling" but only really installed as part of a decent stereo installation. The remainder of the modifications are more function over form I thought and enhancements, albeit I appreciate their value in the second hand market is negligible. There is no ally tat, no carbon interior bits or anything like that.
I am just not using the car so thought I would sell it but if its really taken that sort of a bashing in the price since I bought it I think I'll hibernate her and see if I use it any more in a few years time.
I had the exact same dillema, I just wasn't using the car enough to justify keeping it. Only did about 1k this year.
If you did hibernate it you'd still have to get it serviced (else it'll really lose value) and unless you were getting it SORN'D then insurance, tax etc which would all add up & probably cost more than the amount you'd lose by dropping the price a bit.
My reckoning was, flog mine now, have a nice runaround for the occaisional driving I do (Audi A3 with all the trimmings) & then in a years time get back into Lotus ownership with a nicely depreciated Exige for feck all or not if I can actually live without one!
If you're not using it, no point hanging on for it to depreciate further.
If you did hibernate it you'd still have to get it serviced (else it'll really lose value) and unless you were getting it SORN'D then insurance, tax etc which would all add up & probably cost more than the amount you'd lose by dropping the price a bit.
My reckoning was, flog mine now, have a nice runaround for the occaisional driving I do (Audi A3 with all the trimmings) & then in a years time get back into Lotus ownership with a nicely depreciated Exige for feck all or not if I can actually live without one!
If you're not using it, no point hanging on for it to depreciate further.
Looks well priced to me, although personally I'd take out the ICE and sell it separately - it's as likely to put people off as attract them in an Elise.
If I'd come across that car when I was looking for mine, the first thing I would have looked into would be how easy it was to rip out the sub and return the exterior to standard.
Better pictures might help too. The strange exposure on those makes it look like you're trying to hide something.
If I'd come across that car when I was looking for mine, the first thing I would have looked into would be how easy it was to rip out the sub and return the exterior to standard.
Better pictures might help too. The strange exposure on those makes it look like you're trying to hide something.
Edited by kambites on Friday 26th September 14:52
jb111s said:
I had the exact same dillema, I just wasn't using the car enough to justify keeping it. Only did about 1k this year.
If you did hibernate it you'd still have to get it serviced (else it'll really lose value) and unless you were getting it SORN'D then insurance, tax etc which would all add up & probably cost more than the amount you'd lose by dropping the price a bit.
My reckoning was, flog mine now, have a nice runaround for the occaisional driving I do (Audi A3 with all the trimmings) & then in a years time get back into Lotus ownership with a nicely depreciated Exige for feck all or not if I can actually live without one!
If you're not using it, no point hanging on for it to depreciate further.
All good points, some of which I had overlooked. If you did hibernate it you'd still have to get it serviced (else it'll really lose value) and unless you were getting it SORN'D then insurance, tax etc which would all add up & probably cost more than the amount you'd lose by dropping the price a bit.
My reckoning was, flog mine now, have a nice runaround for the occaisional driving I do (Audi A3 with all the trimmings) & then in a years time get back into Lotus ownership with a nicely depreciated Exige for feck all or not if I can actually live without one!
If you're not using it, no point hanging on for it to depreciate further.
Possibly with a sharp knife next to my nose but I don't think I could let it go for what I considered a sum too cheap just to avoid paying running costs next year. If I do sell then chances are my running costs next year will be higher anyway (the potential replacement would be a 1 car solution for both my Jaguar and the Elise and a lot heavier on fuel and parts) and so by spreading the costs between 2 relatively cheap cars to run there probably isnt much in it.
I need to re-do the PH advert any day now anyway so I think I will make a price cut and if it doesnt sell by the time that advert expires I'll possibly try my luck again next spring/summer when buyers are out in force again (assuming the whole country hasn't gone bankrupt by then!)
Shnozz said:
spikeyplanet said:
Wish I was in a position to buy - we spoke about the 350z.
hiya mate. Its a shame I didn't get on so well with the 350Z as it may have been a good option. Good luck with it - I'm stil trying to shift the Z too
kambites said:
Looks well priced to me, although personally I'd take out the ICE and sell it separately - it's as likely to put people off as attract them in an Elise.
If I'd come across that car when I was looking for mine, the first thing I would have looked into would be how easy it was to rip out the sub and return the exterior to standard.
Better pictures might help too. The strange exposure on those makes it look like you're trying to hide something.
It would be worth taking some of the mods off and selling seperatelyIf I'd come across that car when I was looking for mine, the first thing I would have looked into would be how easy it was to rip out the sub and return the exterior to standard.
Better pictures might help too. The strange exposure on those makes it look like you're trying to hide something.
Edited by kambites on Friday 26th September 14:52
Nitrons
OZ Wheels + 888s
ICE
Get a cheap set of std wheels with AD07/Bridgestones and some Billies, then drop the price. accordingly.
I also agree with the comments about the pictures .. some are a bit arty.. negative image and an interior shot in the dark.....? Its a nice car but the mods make it appeal to a smaller market. Its more focused on track use going by the spec. most owhers dont track their lotus...
I'm also not sure about the following bits in the add
'It's also a perfect example of how you never get your money back on mods on cars. '
and
'If you are looking for a base car to "Honda" this would be a great base.'
anyone looking for a honda donor will know this anyone not looking will wonder whats wrong with the engine.
All just my opinion. personally i like the car and would certainly be interested if i were buying now .. but 1 year ago when i bought my current car (first Lotus) i would have been put off by the level of mods and the wording... a year of ownership and trawling SELOC does make you appreciate things more though
thanks for the input miro, useful to gain another perspective.
To be honest, I CBA to do a parts raid, even though you speak sense in it bringing in more ££s that way. Being frank, I am not too fussed by the money to squeeze every last penny from the sale. I am strange in that respect as I am happy to not maximise profit from the sale by doing this, but I cannot stomach letting the car go too cheap in my eyes (and I realise an owner wears blinkers and hence the thread).
I think I will reprice the car at a lesser sum with a view to achieving that amount rather than an offer.
Once again, thanks all for the input. I am minded to replace the photos as well from what has been said.
To be honest, I CBA to do a parts raid, even though you speak sense in it bringing in more ££s that way. Being frank, I am not too fussed by the money to squeeze every last penny from the sale. I am strange in that respect as I am happy to not maximise profit from the sale by doing this, but I cannot stomach letting the car go too cheap in my eyes (and I realise an owner wears blinkers and hence the thread).
I think I will reprice the car at a lesser sum with a view to achieving that amount rather than an offer.
Once again, thanks all for the input. I am minded to replace the photos as well from what has been said.
You need to remember, a large portion of people are put off by modified cars... whether because of association or simply higher insurance premiums...
I think the price is okay, a touch on the high side for a standard car, and I can't see a modified one selling for much more, simply because your appealing to a smaller market with it.
I'd also ditch the "ideal to be honda'd" - to me thats saying "the engines crap in my car and needs replacing".. (IMHO)
Also, i only skipped the ad, but you seemed to have spent the entire time talking about the mods, rather than the actual car, its service history etc...
I think the price is okay, a touch on the high side for a standard car, and I can't see a modified one selling for much more, simply because your appealing to a smaller market with it.
I'd also ditch the "ideal to be honda'd" - to me thats saying "the engines crap in my car and needs replacing".. (IMHO)
Also, i only skipped the ad, but you seemed to have spent the entire time talking about the mods, rather than the actual car, its service history etc...
Scuffers said:
not sure I owuld say it's far off the right price, looks like a nice car with decent spec for a rasonable price...
think some of the wording could be better...
Price wise this may be true but you might need to wait for a buyer (y) If it were last year and it wasnt grey and i knew what i know now ..... id buy it think some of the wording could be better...
That's a stunning car mate.
If you need to lose the nitrons and oz's to get back to stock to get a sale, I'll swapsies with you
I think with that amount of mods, and condition, you are on the money - you just need to wait for the right buyer - maybe £500 lower to make it more attractive, but that isn't a 12K car IMO!!
If you need to lose the nitrons and oz's to get back to stock to get a sale, I'll swapsies with you
I think with that amount of mods, and condition, you are on the money - you just need to wait for the right buyer - maybe £500 lower to make it more attractive, but that isn't a 12K car IMO!!
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