For Auction - The Esprit Limited Collection

[LOTUSMAN33]

Is it just the Esprit then I wonder, have they gone out of favour?

I doubt the JPS will reach £63k second time around and the reserve is lower than £60k so that looks like a tactical error or false hopes from Bonhams.

That Essex reached half of what they fetched in the peak which was the biggest surprise, perhaps the high estimates put buyers off?

What’s the next project Barry? Another Stag or a surprise 😁

[Giniw]

Red S1 https://themarket.co.uk/en/listings/lotus/esprit-s1/42040a20-1e7d-45ab-bb99-3ebf013d6939?status=live
£31300 reserve not met

 

 

Green S4 GT https://themarket.co.uk/en/listings/lotus/esprit-s4-gt-commemorative/ee722fb7-d1c3-4e69-91e8-57286a0cdab8
£26750 reserve not met
update: sold for £34000

 

 

 

JPS #21 https://themarket.co.uk/en/listings/lotus/esprit-s2-jps-edition/48d2201c-f00f-4ee0-a557-9daae7fbbce9
£63000 reserve not met
update: live, currently £27500 09/09/2021

 

 

 

Silver Sport 350 https://themarket.co.uk/en/listings/lotus/esprit-sport-350-v8/ef747f51-80b3-44a6-af8c-f3a980a200f7
£44,500 reserve not met
update: live again, currently £41000 (2021 09 07)
currently £41000 (2021 09 09)

 

 

 

Sport 300 https://themarket.co.uk/en/listings/lotus/esprit-sport-300/a2c4df24-c22e-418c-bee1-a9a1262940c2
£60 000 reserve not met

 

 

 

S4s https://themarket.co.uk/en/listings/lotus/esprit-s4s/0784d6ad-eef1-4e3c-9f27-0acc24f03d38
still live (2021 09 07) currently £43000
£43000 reserve not met (2021 09 09)

 

 

 

Essex https://themarket.co.uk/en/listings/lotus/esprit-turbo-essex/3d828dfd-0bb5-483d-afff-52e8781e2e58
still live, (2021 09 07), currently £60 000
£65000 reserve not met (2021 09 09)

[Djs44]

I still think that listing them all at once was/ is a mistake . Whilst they are all slightly different , if only one was listed and it was , say , on your list of the 2 options you’d consider , you might be tempted . 

Also they are hardly the best examples , most need money spending to be top drawer ?? 

[Barrykearley]

I think many forget the benefits of some hard wax 💪

[Fridge]

4 hours ago, Barrykearley said:

It’s only just over what they paid for it before they poured money into the restoration 

Does the description mention receipts? I'd like to know where and how they spent £40,000.

[Djs44]

7 hours ago, Fridge said:

Does the description mention receipts? I'd like to know where and how they spent £40,000.

Very easy to spend £40k plus on a restoration 

[Barrykearley]

There’s pics of most things on the listing. A quick scan shows that the £40k of receipts looks to be the history file stack rather than what was spent recently. The recent expenditure is probably half of that though.

[Djs44]

22 minutes ago, Barrykearley said:

There’s pics of most things on the listing. A quick scan shows that the £40k of receipts looks to be the history file stack rather than what was spent recently. The recent expenditure is probably half of that though.

Maybe really expensive wax 😂

[Barrykearley]

Apparently there’s a heap of restoration photos - yet not a single one was shown in the pics. It was important however they showed the insurance cover note for an Italian motorbike from the 1990s - I’m sure that helped prospective bidders.

[Mark Blanchard]

I think we can conclude the auction wasn't a success.  And The Market have made a loss on it, what with the advertising and promotion of it.  Spotted this full page ad in Octane mag and lots on social media.

Kind of a shame really, not well planned.

[Fridge]

2 hours ago, Djs44 said:

Very easy to spend £40k plus on a restoration 

A full restoration yes, and more.

28 minutes ago, Mark Blanchard said:

I think we can conclude the auction wasn't a success.  And The Market have made a loss on it, what with the advertising and promotion of it.  Spotted this full page ad in Octane mag and lots on social media.

Kind of a shame really, not well planned.

Yes, you'd expect better from an organisation associated with Bonhams. It'll be interesting if sales of some of the recent Esprits are made via other online sites.

Saying that, The Market has sold cars, including Esprits, quite well until very recently.

[Barrykearley]

One things for sure - it’s set a damn good set of market figures on cars.

the Essex - id have thought would have done a bit better though.

[Bazza 907]

1 minute ago, Barrykearley said:

One things for sure - it’s set a damn good set of market figures on cars.

the Essex - id have thought would have done a bit better though.

I'm not so sure about the Essex. As with some of the other cars, there are things about it that are not quite right about it or, perhaps better to say not as you would want bearing in mind its a collectors car.

[purso]

Bonhams didn't do a great job with descriptions but everyone knew about the cars, so maybe that's the level for the quality of those respective cars at this current time?

[Djs44]

The JPS is at £27500 . If it didn't meet its reserve at £63k .... why bother bidding anything that isn't remotely close . 

[v8vantage]

Sadly the auction house tried to claim these were the best examples in the world but the cars didn't match the claim. The cream always rises to the top and the best cars bring the best money.....this collection was obviously not up to a high enough standard.

[Chillidoggy]

S4s bid up to £43K? Looks like I was wrong, I never thought it would get that high. I might have to revise my Agreed Value.

[Barrykearley]

Looks like them auction values were brilliant.

[Giniw]

Red S1 https://themarket.co.uk/en/listings/lotus/esprit-s1/42040a20-1e7d-45ab-bb99-3ebf013d6939?status=live
£31300 reserve not met

 

 

Green S4 GT https://themarket.co.uk/en/listings/lotus/esprit-s4-gt-commemorative/ee722fb7-d1c3-4e69-91e8-57286a0cdab8
£26750 reserve not met
update: sold for £34000

 

 

 

JPS #21 https://themarket.co.uk/en/listings/lotus/esprit-s2-jps-edition/48d2201c-f00f-4ee0-a557-9daae7fbbce9
£63000 reserve not met
update: live, currently £27500 09/09/2021
currently £27500 10/09/2021

 

 

 

Silver Sport 350 https://themarket.co.uk/en/listings/lotus/esprit-sport-350-v8/ef747f51-80b3-44a6-af8c-f3a980a200f7
£44,500 reserve not met
update: live again, currently £41000 (2021 09 07)
currently £41000 (2021 09 09)
now NO reserve, currently £41000 (2021/09/10)

 

 

 

Sport 300 https://themarket.co.uk/en/listings/lotus/esprit-sport-300/a2c4df24-c22e-418c-bee1-a9a1262940c2
£60 000 reserve not met

 

 

 

S4s https://themarket.co.uk/en/listings/lotus/esprit-s4s/0784d6ad-eef1-4e3c-9f27-0acc24f03d38
still live (2021 09 07) currently £43000
£43000 reserve not met (2021 09 09)

 

 

 

Essex https://themarket.co.uk/en/listings/lotus/esprit-turbo-essex/3d828dfd-0bb5-483d-afff-52e8781e2e58
still live, (2021 09 07), currently £60 000
£65000 reserve not met (2021 09 09)

[Giniw]

8 hours ago, Mark Blanchard said:

I think we can conclude the auction wasn't a success.  And The Market have made a loss on it, what with the advertising and promotion of it.  Spotted this full page ad in Octane mag and lots on social media.

Kind of a shame really, not well planned.

 

 

 

 

Not a success, well it depends how you see it. The prices are not bad at all, it's a different thing that the reserves were set too high. The prices for the UK market with RHD cars seem quite comfortable to me? (maybe not for the Essex, I don't know what used to be its price)

[Mark Blanchard]

10 minutes ago, Giniw said:

Not a success, well it depends how you see it. The prices are not bad at all, it's a different thing that the reserves were set too high. The prices for the UK market with RHD cars seem quite comfortable to me? (maybe not for the Essex, I don't know what used to be its price)

I agree the prices are good.  But the auction only sold one car, so that's not very successful.  If they'd sold almost all the cars, then I would have said that was successful.

[Chillidoggy]

4 minutes ago, Mark Blanchard said:

I agree the prices are good.  But the auction only sold one car, so that's not very successful.  If they'd sold almost all the cars, then I would have said that was successful.

It’s certainly difficult to value rare cars like those. The only thing they have to go on is previous sales.

Not a success in my view, too.

[Senior]

I’d say the JPS was ropey, £63000 was a fair price for what it was.

[Fridge]

28 minutes ago, Senior said:

I’d say the JPS was ropey, £63000 was a fair price for what it was.

"Original and low mileage" is how I'd have describe it (assuming the auctioneer's description is accurate). So you choose as a buyer if that's what you want, or a fully restored version where some aspects may be reproductions. Such as interior, equipment etc.

£63,000 was a very good price IMO. I think the seller was badly advised. Something I would have expected better from the Bonhams association.

For me that is were the auction has been let down. Oversold.

4 hours ago, Chillidoggy said:

It’s certainly difficult to value rare cars like those. The only thing they have to go on is previous sales.

Not a success in my view, too.

They had enough previous sales to go on as to not over egg the custard as to expected prices and associated reserves.

[Barrykearley]

Not rocket science - cars were over hyped. Sadly some of the better ones were utterly let down by the poorer ones in the collection. The bad ones sure didn’t help make any prospective buyer think the good ones were indeed good.

https://www.glenmarch.com/cars/results?make=213&model=&auction_house_id=&auction_location=&year_start=&year_end=&low_price=&high_price=&auction_id=&fromDate=&toDate=&keywords=&show_unsold_cars=0&show_unsold_cars=1