Exige Market Watch, for discussion and to help those searching!

[jep]

I've sold a few Lotus lately, admittedly all sub-£30k. Also a McLaren at £65k+. Private sales. I priced competitively and fairly, the right buyers popped out but certainly no stampede 🙂

All cash buyers. I think those punters who need finance are out of the market, not completely but certainly not the boom days of 0.1% interest rates. 

There are plenty of buyers around with cash, they can be choosy as the demand is thin. 

Justin 

 

[SW_Mike]

Does anyone know whose vehicle this is/was? It's a lovely example

 

https://www.autotrader.co.uk/car-details/202309152001494

 

 

[HXT]

On 19/11/2023 at 18:09, SW_Mike said:

The market seems static at the moment, Bell and Colville have had a white 380 and a blue 350 for 4+ months and 410 prices appear to be dropping. 

 

Might just be seasonal, might be something bigger. 

Caffyns have just sold my old 410 20th which was in mint condition. I think the asking price started over 80 and dropped to mid 70’s. I obviously don’t know what it sold for but they’d had it six months.

The yellow one above looks a nice example but doesn’t have carbon seats which I think is a big negative for 410’s as the majority have them.

The best example of reducing values is a Laser Blue 410 20th on Collecting Cars which has just failed to sell. Less than 400 miles with extra carbon bits and looks brand new. It got to 66K but failed to meet the reserve. Six months ago that would have gone for way over 70K

 

 

 

 

[Tex]

I don’t think  cars advertised on CC are any reflection on prices. 
 

The site has and probably still does use dubious advertising tactics. 
 

It’s actually not a safe place to purchase from as no Consumer protection.
 

subsequently should you decide not to proceed with the purchase even if car has been misrepresented you lose your buyers fee

[SW_Mike]

CC seems to be where Targa Florio buy their cars to resell at a markup. It's another useful information point but not definitive. 

[jep]

Collecting Cars is not the correct platform to sell any Lotus. Lotus is far too specialist with a tiny pool of buyers. 

Any price achieved on CC for Lotus is irrelevant to a retail value - it is effectively a trade sale, hence why dealers buy on the platform. 

Any owner who is truly invested in the Lotus marque would only ever sell privately or perhaps SOR, unless they need dosh quickly. 

Justin 

[pete]

Surely any auction site is a true reflection of price, the problem is a too high expectation.

Be interested to know their dubious advertising tactics.

No consumer protection if you buy private

All auction sites your bid is binding and you have recourse if a misrepresented trade sale 

If targa Florio buy a car they have no comeback on the seller but when they sell it on they have to warranty it. 

Buying private is a minefield and on sor the dealer has to make something as he has to warranty it so possibly the auction may yield you more money.

 

[jep]

8 minutes ago, pete said:

Surely any auction site is a true reflection of price, the problem is a too high expectation.

No. 

Auctions are a gamble, you need two willing buyers and is time limited. A private sale, be it a car, house, jewellery, art etc.. only requires one buyer and time is not a factor. 

I always sell cars privately and I always get the price I want but I know I have to wait - though sometimes I don't wait long. If I auctioned my cars, I'd have the money sooner but considerably less. 

True market value cannot be time restricted to a narrow window.

Justin

 

 

[HXT]

Well I’ll agree to disagree on the the above not reflecting falling values but agree wholeheartedly about CC being a gash way of selling a Lotus.

Maybe I got lucky using Carwow, which is basically an auction, as I achieved a figure which I think I’d have struggled to get selling privately or having it sat at a dealers for months on SOR.

 

[Tex]

2 hours ago, pete said:

Surely any auction site is a true reflection of price, the problem is a too high expectation.

Be interested to know their dubious advertising tactics.

No consumer protection if you buy private

All auction sites your bid is binding and you have recourse if a misrepresented trade sale 

If targa Florio buy a car they have no comeback on the seller but when they sell it on they have to warranty it. 

Buying private is a minefield and on sor the dealer has to make something as he has to warranty it so possibly the auction may yield you more money.

 

For clarification if your bid on CC is the highest and above the reserve then you win.

CC immediately take their buyers fee, you then arrange car collection 

However if you reject the car because of a fault or misrepresentation etc and do not then complete the purchase you will 100% not receive a refund on your buyers fee from CC.

That’s their terms and imo very poor and far riskier than a private purchase 

Edited November 23, 2023 by Tex

[auRouge]

On 23/11/2023 at 13:29, pete said:

Surely any auction site is a true reflection of price, the problem is a too high expectation.

Be interested to know their dubious advertising tactics.

No consumer protection if you buy private

All auction sites your bid is binding and you have recourse if a misrepresented trade sale 

If targa Florio buy a car they have no comeback on the seller but when they sell it on they have to warranty it. 

Buying private is a minefield and on sor the dealer has to make something as he has to warranty it so possibly the auction may yield you more money.

 

We’re about to find out what my cars roughly worth then 😂 

https://collectingcars.com/for-sale/2020-lotus-exige-410-sport-20th-anniversary-edition?utm_source=Email&utm_medium=email&utm_campaign=SF_CC_Global_Daily_v6a_WC_5/January/2024&utm_term=&utm_id=490446&sfmc_id=6157194
 

This cars spec doesn’t match mine for carbon bits but is practically new..

Somebody’s about to bag a bargain!

410 Sport anyone?!!

CC is a great platform for special sightly niche modern classics.

I’d personally not spend so much money without seeing or test driving a car but it is possible to arrange viewing cars and then having a PPI before the auction so you can go in eyes wide open.. possibly saving thousands of your hard earned in the process. A few friends of mine have bought and sold cars (430Cup and a Senna) successfully on CC and were happy with the service.. 

Much nicer going down to see Jamie or Antonia at B & C but if they don’t have the car you want and it’s available on CC like this blue beast.. why not?! 
 

Anyone know why this latter 410 doesn’t have an exposed Carbon Wing? Assume it is carbon but has been painted? 
 

Whats a 410 Sport worth these days?!!

On PH and Autotrader the cheapest is about £67k…

[auRouge]

This one is currently £57k plus fee so about £60k for a new ish 410 Sport…

Great timing whoever you are!! 

[jep]

Further proof that CC is rubbish for selling a Lotus. 

Justin

 

[pete]

But it sold!! 

[Jcx]

Looks like it didn’t sell In the auction. As for prices, I see quite a few dealers using CC as a cheap way to procure cars for stock. 

[jep]

1 hour ago, pete said:

But it sold!! 

No. It didn't sell. 

And even if it had, it's a rubbish price for the seller. 

If you want proper money for your Lotus, you have to sell privately and be patient. 

Justin 

[Olly43]

I’m kinda glad, was begining to have regret for the price I paid for my S last year 😅

[pete]

It didn't sell then because reserve too high. Nearly 70,000 seems about right to me

[Jcx]

What did the bidding get up to? I wish CC revealed the unsold prices. 

[Tex]

CC will not reveal anything.

It’s a place where the traders get good deals but private buyers and sellers get their pants pulled down.

CC has to be the worst place in the UK to buy and sell, but you don’t know that until too late 

[Jcx]

Have you bought it sold through CC @Tex? Was your experience painful?

[auRouge]

I watched the auction till the end whilst making dinner.. peaked at £67k + fee and as @jep says didn’t meet reserve.. So that would have been circa £73k..

Good. 410s are rare, incredibly quick made from very expensive components.

[Tex]

4 hours ago, Jcx said:

Have you bought it sold through CC @Tex? Was your experience painful?

I have and the company is about as bad as you can get in the Car World, no surprise when you know who owns them !

[pete]

Did you buy or sell? 

[Jcx]

35 minutes ago, Tex said:

I have and the company is about as bad as you can get in the Car World, no surprise when you know who owns them !

Wow. That’s not good to read. I think they present very well. It’s a good-looking, well-presented platform. But at the end of the day it’s an auction and with that comes all of the issues of buying from an auction. I don’t think I could buy that way.