Why are S1 values so strong, is it seasonal?

[FlashBastd]

I am hoping to get into an Elise or VX220 in the not too distant future. What seems to amaze me is how high S1 values are, very little below £10k, there seems to be exceptional overlap with S2's, which should be better.

Is this down to more demand for the S1, or is it partly seasonal with all being advertised at stronger prices in the hope that warmer weather will entice buyers?

I think I know the answer to this, but should I be holding on to my cash until the autumn before buying?

[kambites]

I think it's just that S1s and early S2s have plateaued at roughly the same value (about 10k), so obviously good S1s will cost more than bad S2s and vice versa. It's far from a universally accepted truth that S2s are "better".

[pthelazyjourno]

Out of the box, they drive differently.

Some people prefer S1s. The demand drives the prices of good ones up.

Not particularly seasonal - prices are strong all year round (and have been for the past few years) lthough there aren't as many for sale over the winter months.

[Tyrewrecker]

FlashBastd said:

I am hoping to get into an Elise or VX220 in the not too distant future. What seems to amaze me is how high S1 values are, very little below £10k, there seems to be exceptional overlap with S2's, which should be better.

Is this down to more demand for the S1, or is it partly seasonal with all being advertised at stronger prices in the hope that warmer weather will entice buyers?

I think I know the answer to this, but should I be holding on to my cash until the autumn before buying?

See if you like the VX, few good deals at the minute IMO

[fuzzymonkey]

I've just counted at least 13 S1 under 10k in the adverts that look good. And a good number under 8k that would be great.

[pthelazyjourno]

fuzzymonkey said:

I've just counted at least 13 S1 under 10k in the adverts that look good. And a good number under 8k that would be great.

Fair point.

I just sold mine for £8k.

Granted, it had done 94,000, but I doubt you'll find many more sorted S1s, including the majority of sub 30,000 mile cars.

In retrospect, it's the sort of car I'd go for again over a more expensive low mile car - you often pay more for the privilege of buying a car that will likely need a £xxxx suspension refresh, often has crapper dampers and plastic radiator, and lots of other bugs that haven't been ironed out.

In the time I had mine, I changed the balljoints, toe links, dampers, bearings, radiator, clutch, brakes, exhaust, head, valves, headgasket and far more, it was a brilliant little car.

Obviously I spent a lot on the car, but the point being get one that most of those things have already been done. From the history on mine, most things have now been changed twice - ball joints, dampers etc etc. Once at around 30-40k, and again at around 70-80k.

I will be buying it back again in the not too distant future.

But yeah, there are bargains to be had. Depends if you're willing to "compromise". I personally never had an issue with a high mileage car, did 30,000 miles over 2 years and sold it for what I bought it for. I spent a lot on mods, but 2/3rds were through choice rather than necessity.

Edited by pthelazyjourno on Wednesday 20th June 16:53

[FlashBastd]

The high Vs low mileage question is a good one. I was hoping to get into an early S2 111S or VXT but I guess they are going to be of an age where even a low miler is going to need things replacing.

Not in any rush so I guess I will just wait and see what comes up, my plan was always to wait until later in the year. Recently missed out on a low mileage VXT in a trade auction, which is what has renewed my interest.

Thanks for everyone's input, as ever.

[mcmikey43]

Hi, I have an early S2 and love it, they are a bit easier to get in and out of if you are a well proportioned 50 something. I have spent cash gradually doing the suspension and cooling, I'm now moving on to a big valve head so it's steady expense but it's now more for fun than essentials. I think values remain strong because they are great to drive and cheap to play with, the later Toyota cars are more expensive because of the more modern engine. Remember thereis little corrosion risk providing you don't take them out in winter or give them a rinse after driving in salty roads.

[kambites]

Ignore mileage (within reason, I probably wouldn't buy a car on 200 miles or one on 200k miles); buy on condition.

[chris7676]

Definitely not seasonal and I have noticed a longer term price stability with the S1s. The cheapest I have seen S1s for £7k but for £10k you could even get a VXT. Aiming for low-miles / high-price makes little sense, particularly with such simple and light cars.

[aelord]

S1 Elises are beginning to edge towards classic status - rare special editions that are more than just a paint job already are, such as the Sport 160.

The values of S1 Elises have nowhere to go but upwards - there will never be a car like it made again, so pure and simple and light. Look good. Unadulterated driving.

Best value however, and the canny buyer's choice perhaps at the present are early S2's with K series power. If I didn't already have one, I would be looking for a S2 Sport 190, rare as hen's teeth, but arguably the zenith of all Elises, before they got heavy and lost the characterful K series.

Edited by aelord on Saturday 23 June 19:14

Edited by aelord on Saturday 23 June 19:15