Esprit Market Watch

[obi-nu]

A reasonable looking red '83 S3 has just come up on car and classic down my way for just under 20k...

https://www.carandclassic.com/car/C1424455

[Escape]

On 12/02/2022 at 13:59, kkv444v said:

Is that article supposed to be about S3 and Turbo cars, or just S3s? The photo used just confuses what I assumed was a piece on non-turbo cars. 

It's not uncommon for all later G-cars being referred to as S3, both N/A and Turbo. The Turbo Esprit name is only used by us nerds connaisseurs.

 

 

[kkv444v]

I know it seems to be getting more common but that doesn't make it correct. I am happy to be classed as a nerd, though. And I think the writer here knew what they were doing but - as is quite common - another person chose the picture, and got it wrong. 

[gvy]

I am not even sure the writer knows his esprits.

The S3 is in all the ways a better build car than S2 and S1 , It is also more comfortable and quiter inside , so a better GTcar  because of the changed rear wheel suspension  It has the Turbo esprit chassis. But it does not drive dramatically better than its forebears.

Compared to the S2.2 It has the same engine, but it is noticeably heavier .S2.2 is just 1000kg vs 1220kg for S3. In my S2.2 I do feel the difference driving alone vs with passenger, so 220kg extra is a lot on these cars. The S2.2 has the chapman strut. The S2.2 feels nimbler and will be faster even in cornering. So are S2, but these lack some torque. Also S1,S2,S2.2 have the looks.

 

Edited February 21, 2022 by gvy

[jep]

Journalistic errors? You've shattered my deep trust in the profession.

Justin 

[hedgerley]

81 Turbo just went for £48,000 at Mathewsons. Strong money I think, but a very nice car. 

https://fb.watch/bwVHKoKwyX/

 

[stephenwhyte]

Decent amount for a non-original example in many ways…..and not somewhere I’d expect the true potential of any car to be realised.

[hedgerley]

Watching the auction, it was clear the guy was having the car come what may. He opened the bidding AT the reserve, £30k, as soon as it started. There were 3 or 4 interested and it moved quickly in £500 jumps then at £45k he bid £47k, which cleared the other bidders out bar one, who tried once more and left at £48k.

He was really determined and it goes to show it very much depends who's in the room (or phone in this case) on the day. So I think there is an element of hubris/ego baked into the price 😉

[Andyww]

Yes, seller was lucky as there were two people determined to have it, which is ideal. 

Not sure what was going on with the two gold stripes across the nose, looked odd but likely easily removeable.

[Vipers]

Hi Guys,

Anyone got any thoughts on the below? at auction this weekend, it was up at auction recently and got to £65k and didn't meet its reserve so will be interesting to see what it can get to this weekend.

https://www.silverstoneauctions.com/sa078b-lot-17659-1981-essex-commemorative-lotus-esprit-turbo?el=17659&pn=1&pp=100

[chipp]

Silverstone should yield a higher return this time, and a sale. Going to be around the reserve I would say.

[Bazza 907]

I like the fact that Silverstone have not tried to list the restoration details which I suspect would open it up the sort debate we have had previously. They have done it the right way by simply saying if you're interested come and have a look.

Slight shame they have included the development cars to get to the number of 45 Essex cars.

I suspect it will get a much better reception than it did at the previous auction. 

[Barrykearley]

No matter what - it’s a very pretty car

[Vipers]

I'll certainly be watching with interest, hoping to get over to Paul Matty on Monday to check out the White one, is the general thought that one is worth £75k?

 

[pete]

Owned by someone on here

[Vipers]

Yes always used to admire it when Jonny owned it, or does he still own it, not sure, trying to gauge the market as you could buy the below and bank £40k, although you can't beat white with those wheels.

https://www.uksportscars.com/view/lotus-esprit-turbo-1985-33000-miles-calypso-red-with-full-black-leather-interior/

[MPx]

If you want white Paul, you can have Lionel for £35k....😉

[Vipers]

11 hours ago, MPx said:

If you want white Paul, you can have Lionel for £35k....😉

Thanks Mike, have you got more info please, is there a link to an ad? definitely an S3 Esprit shaped hole in my collection 🙄

[Bazza 907]

Did the Essex not make its £95k reserve?

[pete]

Doesn't look like it ,along with quite a few others

[stephenwhyte]

Showing as Buy it Now at £109k

 

[LOTUSMAN33]

Unfortunately it’s been on sale for sometime now so not fresh to the market, prices aren’t what they were 3-4 years ago where they seemed to have peaked.

I think the current global market uncertainties with the conflict, rising energy prices and interest rates are all factors to consider post what’s already past us with COVID, the EV factor also plays on peoples mind to a degree.

The Essex will always be a good investment for the future due to its low numbers and exclusivity but the current market is dictating its value today. It will be interesting to see what it fetched through bidding compared to when it was fresh into the Bonhams auction last year.

I watch the Esprit market all the time and these cars can hang about for a long time with some for sale over two years. 

The seller may be better off pulling it into storage for a while like I assume Paul Matty has done with Jonnys old turbo, anyone who seriously wants an Essex (myself included) will find the owner in the meantime through media.

Interesting times for sure, barn finds will always be strong as they don’t turn up often anymore and some collectors enjoy the restoration more than the ownership itself.

The market will rise again I’m sure and this is one beautiful car being the star of the Esprit line up.

Dave  

[jep]

1 hour ago, LOTUSMAN33 said:

barn finds will always be strong as they don’t turn up often anymore and some collectors enjoy the restoration more than the ownership itself.

So true. Not my approach at all, ownership and driving are my priorities. With Excel, people seem willing to pay £5k for a near wreck, rather than £12k-£15k for a FSH well maintained car.

Or even worse, £8k for an average car that will swallow vast wonga within 12 months. Illogical.

Justin

 

[Bazza 907]

Looks like the Buy it Now for £109,250 is the £95k reserve plus the 15% buyers premium inc VAT.  

[LOTUSMAN33]

Made £82k apparently so £94300 with 15% which isn’t bad 🙂