Esprit Market Watch

[rizla603104]

I don't know if I've woken up in the twilight zone - but every Esprit I see for sale (even the ropey ones) seem to be going for lots and lots of money.....

S1's - in good order - £25 to £40k

S2's and S3's - £10 to £16k

X180's > £10k

SE's > £12k

S4's > £16k

S4S >£19k

V8's >£19k

What's happened? Does anyone know - is it because the good ones are less and so they're worth more?

Has James Bond declared he's buying an X180 for the next film?

As a footnote there are also some absolute howlers for sale at the moment who seem to think that they have equally good cars and seem to be trying to cash in on the price increase too.

[fmxa]

I meet someone who just bought a 2002 25th anniversary ~30K miles for $32,000 (from a dealer) which is way cheap

[cbclotus]

Hope so.I think they deserve to go up.Have just bought a se esprit turbo..When you look at the very small numbers these cars were produced  in.They should be worth a lot more.....Mike

[Vanya]

I think SE's and S4 are still cheap as chips - the latter mostly cost as little as the Turbo SE despite the superior build quality, but I've also noticed most S4 cars have a minimum of 8-10 previous owners whilst the SE's have something like 5 or so.

S4s' are getting ridiculously expensive - not only do they usually have something like 70,000 miles + on the clock, but they sell at £25,000 and up to boot.... crazy. I've seen a fair few V8's under £19,000 so they're still affordable (although these are most likely best avoided?). The less said about the Sport 300 the better though - a few on sale in Germany for something like 50000 euros.

I'm hoping prices don't balloon too much within the next year since I want to get myself a concourse V8 to keep me busy while I restore my Turbo SE...

[red vtec]

Thee is an NA on pistonheads at paddocks it has been sitting there at least 7 years. It would need commissioning as all it's done is sit in one place, it's priced about 2k more than last time I looked at it. I think they are going up but compared to other classic they are bottom end in price.

[Vanya]

I think it might be time to start buying up the nice ones and sitting on them for a decade or so....

[hedgerley]

 I've seen a fair few V8's under £19,000 so they're still affordable (although these are most likely best avoided?). 

I'm hoping prices don't balloon too much within the next year since I want to get myself a concourse V8 to keep me busy while I restore my Turbo SE...

I'm not sure why there seems to be a downer on the V8 these days. Yes they can be fickle and they are expensive to maintain but if you find a good 'un and have the budget they are delight. I know the S4S has almost a mythical status, as does the S300 and the GT3 is probably the best balanced, but there is something about a V8 

As for finding a concourse V8, they are out there. It will be interesting to see how much this one goes for, given its provenance...

http://www.lotusforsale.com/ads/the-final-lotus-esprit/

[Bibs]

I'm fairly sure that's sold now Mark, pretty much within a fortnight of going on sale 

[rizla603104]

QED!

[hedgerley]

I'm fairly sure that's sold now Mark, pretty much within a fortnight of going on sale

Damn. I was beginning to have a serious think about it but would have to go into hiding afterwards as that money is for my upcoming corporation tax bill. Boo.

Any idea how much Bibs?

[Bibs]

I sold it so yes, I know. I'll ask the chaps involved if they're willing to disclose the price. 

[Vanya]

Chaps involved you say....wouldn't happen to be 2 brothers from Sweden would it?

 

 

I'm not sure why there seems to be a downer on the V8 these days. Yes they can be fickle and they are expensive to maintain but if you find a good 'un and have the budget they are delight. I know the S4S has almost a mythical status, as does the S300 and the GT3 is probably the best balanced, but there is something about a V8 

As for finding a concourse V8, they are out there. It will be interesting to see how much this one goes for, given its provenance...

http://www.lotusforsale.com/ads/the-final-lotus-esprit/

Good points Mark - I think the V8s are bottoming out right now. I don't believe they will sink lower than 15,000. Concourse can be had for 25-30000 I believe, which is what I'll be aiming for. Don't think its because of the costs of maintenance really.

I have a hard time believing that the 10675th V8 went for anything less than 60,000 pounds though. Plus it didn't have cream leather interior, so I'd have let it pass anyways, even if I did have the dosh

[hedgerley]

Actually I think they are on the up Vanya and tbh at £15k today a V8 would be a bit of a wreck. I paid £15k for my 1998 V8-GT in early 2005 and got exactly that back from the insurance when I wrote it off on black ice two and a half years later. I paid £21k for my current V8-GT in early 2008 - pristine, FLSH and good mileage. 

I've just a quick look around Autotrader, Pistonheads and on here and you know what, there aren't many about. As I've mentioned elsewhere there have been some very positive guides in the mags in recent months. Given the 'investments' I've made (re-furb seats going in this week for example) I would expect mine be nearer £25k by now should I want to sell it. Not that I do of course....

Looking forward to Bibs 'market report'!

[rizla603104]

Just wanted to go back to average owners. An average UK car is owned for 4 years - which means "on average" a 20 year old Lotus should have 5 owners. However these are not average cars and costs can spiral - so the average vastly reduces - and that is really born out by those who buy - realise they are not Ford Mondeos and sell again - coupled with those who realise that keeping them in storage and not driving them is as expensive as using them - on top of that - the economic climate over the past 5 years means that the average is far less. I think not going for a car because it has 12 owners only means that it has had 12 owners - the proof is in the recent record keeping and provenance. A car that has been stored in a barn for 10 years is going to have less owners but is likely to wallop you for a huge bill or two to begin with - whether the previous owner has got a large old book of receipts or not. I think the chances of finding an SE with less owners is higher because there are nearly 3 times as many SE's vs S4's.

Ooh yes - Bibs market report - sounds good to me!

[Vanya]

Paul,

You have a good point there - but it swings both ways. I've unfortunately met a lot of Esprit owners who buy the car for a summer fling and then sell it on a year later without doing any maintenance at all. And I think many of the 12-15 owner cars have histories (or lack thereof) which reflect this. Other than that, if its 12 owners with each one pampering the car before it's been moved on, that's just dandy. I haven't seen it with mine own eyes yet though.

Furthermore, there are also a lot of owners who say "Oh the Esprit isn't such an expensive car, I've had it for 5 years and spent a total of 300 pounds on it!" - It's the poor bastard who buys the car on the 6th year and has to replace a bunch of stuff that's been neglected, at the very least the timing belt, and also likely any and all fluids. I'm currently that guy with my SE

[GordonMasson]

As for finding a concourse V8, they are out there. It will be interesting to see how much this one goes for, given its provenance...

http://www.lotusforsale.com/ads/the-final-lotus-esprit/

Denis got in touch with me a while back asking if I wanted to buy it.

He had said years back that he would give me the option on the car if he ever did sell it so true to his word, he did.

It would have been pretty cool to own both bookends in the Esprit lifespan but I would have had to sell every internal organ I have just to be in the ball park.

Great car though!

[rizla603104]

Vanya - you are so right. I have been there too....

[Vanya]

But you're still around! Which is a good sign - I take it your Palacio Purple isn't your first Esprit?

[Mike6]

When I was looking for a Stevens carb turbo about 4 years ago it wasnt that difficult to find them for about £6k depending on condition and history. I got mine in poor condition and without much history (but only 1 previous owner) for £4.5k and have since spent thousands on it doing DIY overhauls etc. Money spent is dead money and cannot be entered into the equation as I get the benefit of this in terms of a fine running car. However looking at the ads does show these cars are shooting up in value and I doubt you will now find one sub £5k however bad it is.

Possibly the bad ones have been scrapped or like mine returned to life but about £10k does seem the entry price but it is interesting that ones requiring work rarely seem to make it to the ads.

[rizla603104]

You are right 10k is really where it starts. For me an S3 from 2001 until 2007 SNL606Y

[red vtec]

Are they actually selling at these prices? I keep seeing the same ones month after month and in the case of the white x180 year after year.

But the esprit is due its increase in price they have been looked down on for far to long, I went to a car show and people were more interested in te F360 kit car parked next to mine, rather than the thoroughbred, (the Esprit)

[Vanya]

That's unfortunate Chris - I've found the Esprit commanding more attention and receiving more affection than its more expensive Italian counterparts.

I've also see then prices some are asking - and it's true the ads just keep getting renewed. I think the most annoying are the S4s prices - ads describing them as well loved, fantastic examples, asking £25-30,000 and they have a huge amount of miles on the clock, worn interior, worn engine bay, dirty engine, God only knows the state of the suspension....

But then these are usually dealers so that says quite a bit.

IMO it's kinda sad that prices are going up - as someone mentioned earlier, money spent is dead money and I wouldn't recoup my investments in the SE (although the loss wont be anything like a regular vehicle or new car) so I have nothing to celebrate really - all it'll do is prevent me from buying another one

[Rick Edwards]

you can ask whatever you want for a car, but it doesn't mean its worth it or will sell...my S4s has been advertised for a month at under 19K and i have only had 1 enquirer!

I could put it up for +20K but whats the point if no one is interested.

There seem to be a few advertised in dealers for 25-30K at the mo but surely thats a dream??  ....maybe I should hang on till next spring, if I can sell a body organ in the mean time, and re advertise it at 25K.

[Nelly]

I have to agree with a rather more cautious view on prices.  I keep an eye on the prices and there are a lot of cars which have not sold.

I had one eye on selling my S2, and a similar car is for sale an hour away from me and was up at £15k, then £14k and then £13k and has not sold.  I was considering taking £10k for mine which is bottom of the thread estimate, and I really think it should go for more but if the buyers are not there.... 

[ramjet]

The prices certainly haven't risen in Australia for used Loti. In fact, I would suggest the used Loti market has stalled. I still see Esprits on carsales that I saw when I was looking for mine back in 2010. I paid 65k AUD (38.5k GBP) for my S4 and I don't expect to recoup close to that to be honest.