Esprit Market Watch

[snowrx]

How's $USD 135K sound?

https://bringatrailer.com/listing/2003-lotus-esprit-7/

 

[mike_sekinger]

.... and complete within non-OEM parts

[Hornsey Boy]

 

https://www.autotrader.co.uk/car-details/202207057473007?make=Lotus&model=Esprit&sort=relevance&postcode=cm164px&year-to=2022&advertising-location=at_cars&radius=1501&include-delivery-option=on&onesearchad=New&onesearchad=Nearly%20New&onesearchad=Used&page=1

Beautiful HC, just popped up on Autotrader.

Strong money, but in top condition with some big bucks being recently spent on the car.....  

[RobinB5]

1 hour ago, Hornsey Boy said:

Strong money, but in top condition with some big bucks being recently spent on the car.....  

Surely they'll come a time when a car that's done only 23k miles and is 35 years old doesn't command this price? To be left sitting for so long / so often isn't an indication of reliability. (I only say this with a 1994 Esprit S4 that's done 95k and is driven weekly, hasn't failed me ever and of course should therefore be worth £80k  ! )

[Mysterae]

Very strong money best of luck to the seller. In the advert's video, the dealer's waffle, "patina".. if that's what increases the price then mine must be worth a million .

I agree @RobinB5, my Esprit was at it's most reliable when it was being driven as my daily. I then hide it away when life changes and I have to start all over again (kinda) to make it as reliable again.

[obi-nu]

I see a lot of variance in asking prices ATM and am curious as to the concensus from others in the community on current giugiaro values (let's assume condition is good but not concourse).

From observational research, I think values (not asking price) seem to be something like this in the current market based on recent (last 12-24 month) sales (not including special editions such as JPS and Essex etc);

S1 - 35-40k

S2 - 20-25k

S3 - 17-22k

Turbo - 30-35k

Now I know people may put some higher (such as maybe closer to 45-50k for an S1 and 40-45k for a Turbo), but as I say, the above appears to reflect average sale prices from what I can see (UK prices/ RHD cars).

What are peoples thoughts, agree/ disagree (evidence based as opposed to just opinion)?

Thanks.🙂

 

[pete]

Does it matter

[Fridge]

I haven't seen any UK spec S1s for sale for over 10 months, so I'm not sure where you get your value from @Nu_S1

I'm awaiting a valuation for insurance purposes, that'll be interesting.

[obi-nu]

1 hour ago, Fridge said:

I haven't seen any UK spec S1s for sale for over 10 months, so I'm not sure where you get your value from @Nu_S1

I'm awaiting a valuation for insurance purposes, that'll be interesting.

Mainly auction sale prices over the last couple of years David. It also seems to match market trend data though some of those do include U.S cars.

Insurance purposes is one of the many reasons why it matters to most pete, though as I stated, I am just curious and thought it an interesting conversation piece.

[Fridge]

6 minutes ago, Nu_S1 said:

Mainly auction sale prices over the last couple of years David. It also seems to match market trend data though some of those do include U.S cars.

Insurance purposes is one of the many reasons why it matters to most pete, though as I stated, I am just curious and thought it an interesting conversation piece.

Yes, this is why you need to pay particular notice to values, especially as certain series become popular and the market price follows suit. Otherwise you could end up priced out of the market if you're unfortunately to have your car written-off.

@Nu_S1the S1 has reached far higher values than you state (£40-50,000). I know of at least two that sold for £58,000 and £68,000.

Though I'm not sure what the market is doing currently. It certainly won't be a seller's market that's for sure.

Edited July 9, 2022 by Fridge

[obi-nu]

3 minutes ago, Fridge said:

Yes, this is why you need to pay particular notice to values, especially as certain series become popular and the market price follows suit. Otherwise you could end up priced out of the market if you're unfortunately to have your car written-off.

@Nu_S1the S1 has reached far higher values than you state (£40-50,000). I know of at least two that sold for £58,000 and £68,000.

Though I'm not sure what the market is doing currently. It certainly won't be a seller's market that's for sure.

I was waiting for someone to reference those.😉 They were nut and bolt restorations so I put them in the 'concourse' bracket at the top end. If you look at auction sales over the last couple of years for 'good' cars, my figures are in the range.

[Fridge]

Well, it that case it depends what form of car you have. They are not unique, as I and a number of other folks I know own S1s at that level of finish.

£40-50,000 is misleading.

For an S1 I would say that you are now talking a price upwards of £20,000.

[obi-nu]

2 minutes ago, Fridge said:

Well, it that case it depends what form of car you have. They are not unique, as I and a number of other folks I know own S1s at that level of finish.

£40-50,000 is misleading.

For an S1 I would say that you are now talking a price upwards of £20,000.

Yes, that's why I referenced good but not concourse condition and averages.

Not misleading at all, look at the average auction sale prices over the last few years. I know top end is 55-65k but those appear to be exceptions (and concourse) by the looks of it.

20-25k will get you a project car I agree.

[Fridge]

My insurance valuation has just been received and sure enough it falls way above the upper value of your band.

[obi-nu]

27 minutes ago, Fridge said:

My insurance valuation has just been received and sure enough it falls way above the upper value of your band.

David, I think you have misread what I've said. 35-40k or (arguably) 45-50k is based on a good condition car. It sounds like yours falls under the 'concourse' category which is higher as you said yourself above...

[Fridge]

I think when stating valuation and recent market activity it is important to include the full range, as owners often are not aware of current values. Especially given that there are quite a number of concours examples in the UK these days.

So for S1's this equates to £20-25,000 right up to £68,000.

There has been no sale activity of higher end examples over the past 6 months as far as I know, but with likely sale prices reflecting the current economy.

It is very important however that insurance valuations are kept up to date.

[obi-nu]

1 hour ago, Fridge said:

I think when stating valuation and recent market activity it is important to include the full range, as owners often are not aware of current values. Especially given that there are quite a number of concours examples in the UK these days.

So for S1's this equates to £20-25,000 right up to £68,000.

There has been no sale activity of higher end examples over the past 6 months as far as I know, but with likely sale prices reflecting the current economy.

It is very important however that insurance valuations are kept up to date.

I would have put the full scale exactly the same but I thought I had been clear I was basing it only on averages; condition and sale price wise.

Fair enough though, I invited opinions so all good input.👍

[Senior]

be interesting to see what this JPS makes. Been a while since a decent one has been up for sale. I have a vested interest as I have 079 in a similar or better condition.

https://www.silverstoneauctions.com/sa080-lot-18860-1979-lotus-esprit-s2-jps?el=18860&pn=2&pp=100

[Djs44]

Yes - estimate is quite low . 

[Barrykearley]

Glenmarch is always worth looking at for past results 

 

[Senior]

On 15/08/2022 at 12:35, Barrykearley said:

Glenmarch is always worth looking at for past results 

 

Can't argue with what they sold for at the time. I looked at one of these cars, it was ropey at best. Been a few sold since then for far better prices. At the end of the day at auction they sell for what the market dictates. 

 

[Djs44]

On 04/08/2022 at 20:52, Senior said:

be interesting to see what this JPS makes. Been a while since a decent one has been up for sale. I have a vested interest as I have 079 in a similar or better condition.

https://www.silverstoneauctions.com/sa080-lot-18860-1979-lotus-esprit-s2-jps?el=18860&pn=2&pp=100

Have you 079 and 094 ?

[Senior]

2 hours ago, Djs44 said:

Have you 079 and 094 ?

sorry typo, I have a 1979 ...... 094.

I only have 094

[exeterjeep]

On 22/06/2022 at 11:14, stephenwhyte said:

For an S3!! I need to watch that, when shown on TV!😳

TV program on next week  So we may know what it sold for, but will be interesting to see how much the car actually cost including at SWLC.

 

[Fridge]

I looked at restoring an S3 in 2016 and there was no way I could make the numbers work, and that was doing most of it myself. So I suspect the TV chaps will blow their budget comfortably with this one, as they seem to have done with their other purchases. Good job AirTV have a programme to sell to cover their losses.