Current prices

[Loafers92]

Seems like Elise/Exige prices keep on going up - I was thinking about getting into an Exige there aren't that many on the market and it got me thinking - its the same with S1s and S2s.

I've been checking Elise s1 & s2 prices this last year and i'm a bit surprised at how the cheapest s2 is now at 16k? Is it because of all the cars that have left the country pre-brexit? Just some years ago they were going for 12 or 13k!

[Lotobear]

I suspect it may have as much to do with the movement towards digital cars and folk wanting to experience the last of the analogue Loti before time is called.

That and people sitting on wads of unspent holiday and furlough cash and thinking... 'WTF if not now then maybe never?'

[Ikemi]

Anything remotely sporty has been going up in value since last year. I can only comment on the cars I’ve been looking at, but the V8 Vantage has increased by about 10-15%, cheapest convertible R8 V8 is just over £40K, a 2012-2104 Porsche 981 Boxster S with 30-40K miles is going to cost you around £32-38K depending on options!

It’s all a bit crazy! That said, I didn’t lose too much when I sold my F-Type V6S convertible last month!

The price increase is mainly due to the pandemic and lack of holidays. People who would spend a fair amount of cash on a holiday (or 4!) cannot go anywhere, so it makes sense to buy a nice sports car and enjoy some drives outside - knowing the car will be worth something when travel re-opens and the car is sold on.

I expect prices may drop as supply increases when travel re-opens and more people choose holidays.

However!

Lotus ... Perhaps has it’s own bubble outside of this? Last of the true unaided cars, Elise/Exige/Evora production stopping this year in a move towards new models (and EV tech), plus S1 cars are coming up to the 25 year US import rule. Lots of noise about EV in the future, autonomous driving ... Get in while you can!

Ironically, I might be selling my S1 soon (and may regret it!), but I’m after an Aston Martin (or a V8) before it’s too late!

[AlexNJ89]

Ikemi said:

Anything remotely sporty has been going up in value since last year. I can only comment on the cars I’ve been looking at, but the V8 Vantage has increased by about 10-15%, cheapest convertible R8 V8 is just over £40K, a 2012-2104 Porsche 981 Boxster S with 30-40K miles is going to cost you around £32-38K depending on options!

It’s all a bit crazy! That said, I didn’t lose too much when I sold my F-Type V6S convertible last month!

The price increase is mainly due to the pandemic and lack of holidays. People who would spend a fair amount of cash on a holiday (or 4!) cannot go anywhere, so it makes sense to buy a nice sports car and enjoy some drives outside - knowing the car will be worth something when travel re-opens and the car is sold on.

I expect prices may drop as supply increases when travel re-opens and more people choose holidays.

However!

Lotus ... Perhaps has it’s own bubble outside of this? Last of the true unaided cars, Elise/Exige/Evora production stopping this year in a move towards new models (and EV tech), plus S1 cars are coming up to the 25 year US import rule. Lots of noise about EV in the future, autonomous driving ... Get in while you can!

Ironically, I might be selling my S1 soon (and may regret it!), but I’m after an Aston Martin (or a V8) before it’s too late!

Great post.

The only thing I'm unsure of is whether we'll see a bubble-like correction where within a few months cars come shooting back down, or has the market been on rewind and cars with gradually depreciate from this point on just as normal.

I'm hoping for a correction as I sit here waiting to pull the trigger on an Evora.