Buyer Beware (and seller)

[Qavion]

Sold my '89 Esprit SE last month (to help pay the bills on my new acquisition). I priced it according to what I thought it would be worth given its age, mileage and the possible things which might need attention in the near future (i.e. A$24,500). I spent ages telling the buyer things he might need to know, threw in lots of extras (manuals, ALDL adaptor/software, spare gear knob, spare steering wheel, etc). The buyer knocked me down to A$22,500. He readvertised it for sale for $40,500 a day or two ago and, by the looks of things, he just sold it.  WTF?

His advertisment was full of pure BS (claiming that the car was immaculate, a 91 model, and had ABS and power steering) and, unfortunately, the new buyer is going to discover very quickly that he's spent way too much for the car. My sympathies to the new buyer.

Now wished I'd sold it through Club Lotus Australia

 

[Bibs]

Post the reg so anyone searching online will find this post. 

[silverfrost]

Bad news indeed Ian.  That is some traders for you sadly 

[Qavion]

Rego is/was "E5PRIT" and VIN is SCC100ZT1RHA26106

Thanks,
Cheers

Ian.

[silverfrost]

Bloody hell,  you are not going to miss that plate anywhere stands out like a sore thumb.  The plate alone must of been worth some money ?

[ramjet]

Plates in Australia don't work like yours do. In Australia, a personalised plate is generally about $4~500. You have to apply for what you want, but you also have to supply alternatives. You may not get your first preference. Some things are not allowed. For instance, I was unable to get 'ESPRIT S4' for my car in WA. Had to have ESPR1T S4. The model names are generally reserved they told me. I am not sure of the rules in Vic, but expect them to be similar.

[Qavion]

Quote

You have to apply for what you want, but you also have to supply alternatives. You may not get your first preference.

Actually, the process is a lot less hit-and-miss now (at least in NSW). You just go to the website and see if it's available by filling in the blanks. Mine was a 
"CUSTOM" (which costs A$448 a year), i.e. on top of the purchase price.

https://www.myplates.com.au/#/home

The good cheaper ones have mostly gone. You have to be a little creative.

[johnpwalsh]

7 hours ago, Qavion said:

Sold my '89 Esprit SE last month (to help pay the bills on my new acquisition). I priced it according to what I thought it would be worth given its age, mileage and the possible things which might need attention in the near future (i.e. A$24,500). I spent ages telling the buyer things he might need to know, threw in lots of extras (manuals, ALDL adaptor/software, spare gear knob, spare steering wheel, etc). The buyer knocked me down to A$22,500. He readvertised it for sale for $40,500 a day or two ago and, by the looks of things, he just sold it.  WTF?

His advertisment was full of pure BS (claiming that the car was immaculate, a 91 model, and had ABS and power steering) and, unfortunately, the new buyer is going to discover very quickly that he's spent way too much for the car. My sympathies to the new buyer.

Now wished I'd sold it through Club Lotus Australia

 

Same happened here Ian. Sold my stunner to what was a private collector, she was going ino a museum. It was collected on the Sunday, I got a message saying it had arrived on the Wednesday evening. On the Thursday it's advertised with a £10,000 mark up. Private collection my ar+e.

[s4simon]

Mmmm - There was an S4S up for  sale a couple of months back here.  On the market for a ridiculous 40k.  Sold on day one and then sold a day later for an extra 15k. 

 

I think that when I sell mine, I'll start high and see what happens.

[Qavion]

Seems there is a market out there. I didn't realise.. and to thank the guy for buying the car so quickly I said I'd pay the toll fees to get the car back to his place (I didn't want him to get fined). I just got the bill for the tolls ... Talk about adding insult to injury 

[s4simon]

Well I promise that if you sell your 355 to me for a small fee, I won't sell it...

I was actually tossing up whether to buy a nice red one for 29k (UK) back when I was buying the Esprit in London.

I so need to invent a time machine.

[Steve V8]

Was that the 355 spider advertised in Exeter UK.  £29,995,  I think that was a scam. I enquired about this car, seems the seller no longer existed, hope someone didn't get stitched up. Buyers need to be so careful these days putting deposits on cars from foreign countries. 

[Iconic Ride]

Does this mean I should pass on the "like knew, free skipping whirld wide, ownlee 5K miles, veree rare 2005 Lowtus Esprit" listed by a "privett collectorh" in Lagos?

[s4simon]

This was back in 2003 when I lived in Surrey.  Local dealer down the road was Talacrest, lots of lovely cars there.  They had this 355 for 29k back then.  This is just after I bought the Esprit (in the background).  Went out with a mate from Oz (pictured).

Lovely car.

[Qavion]

Just keeps getting more and more absurd....

 

Now re-selling at A$46,995....

 

http://www.classicthrottleshop.com/modernclassics.htm

[Daniel]

Aside from a little exaggeration from the dealer..... I don't really see what anyone's done wrong here?

You've done yourself out of a few quid under-valuing it in the first place, but if you were happy with the deal back then, thereon in, it's other people's business. 

[Qavion]

Quote

but if you were happy with the deal back then, thereon in, it's other people's business. 

 

OK, I'll bite.

You don't think that after the dozens of people who have helped me on the forum, I shouldn't return the favour and tell any potential buyers here that the the car is quite overvalued?

After owning the car for 16 years, I do have some idea of what the car's shortcomings are. I saw some potentially big bills coming up in the next few years and valued the car accordingly (Note that it wasn't the reason I was selling it). 

A little exaggeration? I can assure you, whilst I did pay a great deal to keep the car on the road, in no way could you describe the car as no expense spared....   and the car is not definitely not "original". I had to do quite a few things to make it more reliable than original.

If there are any potential buyers out there, please feel free to PM me.

[Daniel]

I'm confused......

You claim that the price you originally sold it for was fair based on your knowledge of the condition of the car.... stating that you wished you'd have sold it to an enthusiast through your club, presumably as they'd get an honest deal and would be less likely to flip the car.

Then you acknowledge that you didn't know the market and lament the fact that the guy who bought if off you not only got a great deal, but got reimbursed for toll fees....... as if him then selling the car for more money was of some insult to you?

The car then gets advertised for yet more money and you call it absurd.

I was merely pointing out that if you were happy with the original deal, then it's no harm, no foul....... and what subsequent owners do with the car is none of your business....... 

Plus..... how is your claim that, thanks to your ownership, the car is now "more reliable than original" any less of an exaggeration than a claim that it's original?.......

[pete]

Certainly know how to present a car

[Qavion]

Quote

Certainly know how to present a car

 

As Daniel pointed out, I'm happy* with the original deal (what I got for the car and how quickly it sold). What I don't understand is why I can't comment on the subject. Agreed, it's not my business, but it could be the person-who-next-buys-the-car's business. That's why I started this thread.

 

(*Edit: other than the fact the he bargained me down an extra couple of grand because he seemed like a nice guy)
 

Quote

 

Plus..... how is your claim that, thanks to your ownership, the car is now "more reliable than original" any less of an exaggeration than a claim that it's original?.......

 

 

 

By this I meant that I had quite a few problems with the car and I did all the usual stuff Esprit SE owners do to make them more reliable.

Edited November 3, 2016 by Qavion

[Iconic Ride]

[johnpwalsh]

I'm with Ian on this one. I got a pretty good price for my S3. The irksome part for me was the fact that I did discount the car as it was going into a museum for all to see. Then to see it the day after delivery with a 10k markup. The story is the galling part.

[Andy Esprit SE]

Funniest example i eversaw selling a car was one of my friends selling a honda accord. Two nice chaps saying they are in the trade so need it cheap....benefit being he gets a quick easy sale.

Walk round test drive...back at the house they chip him....he said if you want it knock on the door ....if you dont then have a nice day, my teas ready..... sat there 40 mins before they gave in, knocked on and paid full price

[Jrider]

Well why not for a new post. Given my lust for an esprit why not. When you sell a car you have to ask what you want for it or if you can really live without it. Ive seen cars ive sold or given away go straight to the junkers other sell for double. It happens. The guy probably has been flipping cars a long time. I met a guy like that once who drove down from god knows where he offered 500 to my mom and I aid no 1200 or you can go back to timbuck two. He folded. Car was a good condition accord. He had it for sale a week later for 2300 I chuckled because I knew he would but I also knew that the car wasn't going to sit in my garage for as long as it would sit in his lot. Just open a beer its easier.

[ramjet]

Welcome to TLF Robert.

You should duck over to the Introductions area and start a topic in there and let us know what sort of esprit you are after.