Elise prices. What's going on?
Discussion
This is a question of curiosity - I'm not looking to buy or sell but motivated to enquire as a result of insurance renewal that has revealed what seems some odd things on the prices of Elises.
I got a 2007 S2 a year ago. Paid £17k. 44k miles and in very good condition, history, etc. GoCompare suggests that current market value of the car is £13k yet I'm struggling to find anything comparable on the market for anything less than £25k.
Did I bag the deal of the year or have I really made £8k on it in 12 months?
I got a 2007 S2 a year ago. Paid £17k. 44k miles and in very good condition, history, etc. GoCompare suggests that current market value of the car is £13k yet I'm struggling to find anything comparable on the market for anything less than £25k.
Did I bag the deal of the year or have I really made £8k on it in 12 months?
Prices certainly appear to be strong; however I’m not sure what cars are actually changing hands for - if they’re changing hands at all.
Mine has been quietly advertised at what looks like market rates and I’ve not had a lot of interest. With the current and deteriorating economic environment, the market for indulgences might be small.
Mine has been quietly advertised at what looks like market rates and I’ve not had a lot of interest. With the current and deteriorating economic environment, the market for indulgences might be small.
I guess the prices being observed are asking prices, which may not reflect actual sold prices. We're also still in August so prices tend to be higher during summer months than over winter. That being said, I do think prices are on the up for these.
For reference, I bought a base spec S2 around 5 years ago for £11k, and sold it on less than a year later for £11.5k. Nowadays, the equivalent car (2001 k series, 44k miles) would probably fetch upwards of £16k quite easily.
Also they're not making these anymore. It's been mentioned the emira is a very different beast to the elige platform (more of a comfy GT car/less raw/less power than a later exige) so I'd expect values across the board to increase due to increasing scarcity (also some owners will bin their cars over time, further decreasing the numbers).
I think we will see a decline in the value of mass production ICE vehicles over time, however Lotuses are more of a niche, low volume, enthusiast market, so provided fuel costs do not spiral beyond affordability, should not experience the same issues.
For reference, I bought a base spec S2 around 5 years ago for £11k, and sold it on less than a year later for £11.5k. Nowadays, the equivalent car (2001 k series, 44k miles) would probably fetch upwards of £16k quite easily.
Also they're not making these anymore. It's been mentioned the emira is a very different beast to the elige platform (more of a comfy GT car/less raw/less power than a later exige) so I'd expect values across the board to increase due to increasing scarcity (also some owners will bin their cars over time, further decreasing the numbers).
I think we will see a decline in the value of mass production ICE vehicles over time, however Lotuses are more of a niche, low volume, enthusiast market, so provided fuel costs do not spiral beyond affordability, should not experience the same issues.
From what I've seen prices have been relatively stable in real-terms for ten years or so. Whether the current spike in inflation will see non-adjusted prices spike similarly or we'll see a real-terms drop in values remains to be seen. I suspect the latter as income fails to keep up with inflation and hence disposable income collapses.
Generic car valuation sites tend to be hopeless with relatively specialist cars though so I would take something like GoCompare (I didn't even know they did car valuations!) with a hefty pinch of salt.
If you want to see what people are actually paying looking at completed auctions on Ebay is quite useful.
Generic car valuation sites tend to be hopeless with relatively specialist cars though so I would take something like GoCompare (I didn't even know they did car valuations!) with a hefty pinch of salt.
If you want to see what people are actually paying looking at completed auctions on Ebay is quite useful.
Edited by kambites on Tuesday 23 August 09:48
Zarco said:
Without doing too rigorous with my research, I'd say a 111R would be worth around £17-20k currently. Not £25k, nor £13k.
That's my thinking too. As others have noted, asking and getting are separate entities. Will be interesting to see what happens over the next few years.
Part of my justification process for getting one was that should I ever need the money in the future, it's unlikely that I'd loose much, if anything, on the original purchase price.
I may be talking my own book as I sold a Boxster s to buy an Elise R 2 months ago for a few reasons one of the main one being I think Elise residuals will be rock solid..I think to get a low mileage ,non ragged car with proper history etc and low mileage I think 23-25 k is the likely price for a 111r/r…mk1’s are going up in value which I think will feed through into later models eventually in the same manner Porsches etc have done
kayc said:
I may be talking my own book as I sold a Boxster s to buy an Elise R 2 months ago for a few reasons one of the main one being I think Elise residuals will be rock solid..I think to get a low mileage ,non ragged car with proper history etc and low mileage I think 23-25 k is the likely price for a 111r/r…mk1’s are going up in value which I think will feed through into later models eventually in the same manner Porsches etc have done
I have to agree with this. Looking at the last couple of years and having recently sold an S2 111S, I would say that a K series S2 ranges from £16-22k whilst a 111R is higher at around £20 - £25. The Elise S (134bhp Toyota 1zz) is harder to place.
If the OP bagged a 111R with 44k miles for £17k, then great work, that’s a bargain!
Edited by Sausagebacon on Saturday 27th August 16:23
Zarco said:
He bagged it 5yrs ago 
One year ago actually……anyway, I think Elise values will continue to see appreciation. As fuel costs spiral, they make a lot more sense than a lot of heavy, large-engined performance cars. That and the fact they are epic to drive and there will not be another like it. I was potentially going to sell mine this summer. A Elise S2 Supercharged. Was offered the same that I paid for it 2 1/2 years earlier from the trader I bought it off. Car buying sites we’re offering about 25% less. Car buying sites are not for the more specialist cars and are not a reflection of the market.
I’m looking for a late S3. Prices are bewildering. All the dealer cars are mid £40’s and any private sale cars seem to be priced at barely any less. Most of the cars are welded into the classifieds. There’s a special order car in a Peppermint green colour with a dealer in Scotland that’s been for sale most of the year at an asking price in the late £40’s.
Perhaps owners would rather keep than sell at less than they think their car is worth.
In 2019 a 2017 220 would have been worth early/mid £30’s. Everything seems to be inflated price wise but that can’t remain the case forever.
Perhaps owners would rather keep than sell at less than they think their car is worth.
In 2019 a 2017 220 would have been worth early/mid £30’s. Everything seems to be inflated price wise but that can’t remain the case forever.
bencollins4 said:
Zarco said:
He bagged it 5yrs ago
One year ago actually……anyway, I think Elise values will continue to see appreciation. As fuel costs spiral, they make a lot more sense than a lot of heavy, large-engined performance cars. That and the fact they are epic to drive and there will not be another like it. I think the only thing that could slightly scupper the chances of Eliges appreciating is if lotus created a more hardcore, stripped down, sub-tonne EV roadster with crazy power. Basically an elige for the modern day.
I don't really see it happening given the car market we have and the difficulty to achieve lightness, whilst having all modcons, driver aids and heavy electric batteries. It seems generally people want either more GT-esque cars like the new emira or SUVs, and that's what has best chance of making money for lotus, particular with lotus's ropey financial history.
I don't really see it happening given the car market we have and the difficulty to achieve lightness, whilst having all modcons, driver aids and heavy electric batteries. It seems generally people want either more GT-esque cars like the new emira or SUVs, and that's what has best chance of making money for lotus, particular with lotus's ropey financial history.
Douvre777 said:
I think the only thing that could slightly scupper the chances of Eliges appreciating is if lotus created a more hardcore, stripped down, sub-tonne EV roadster with crazy power. Basically an elige for the modern day.
I don't really see it happening given the car market we have and the difficulty to achieve lightness, whilst having all modcons, driver aids and heavy electric batteries. It seems generally people want either more GT-esque cars like the new emira or SUVs, and that's what has best chance of making money for lotus, particular with lotus's ropey financial history.
My view om this point would be the opposite.I don't really see it happening given the car market we have and the difficulty to achieve lightness, whilst having all modcons, driver aids and heavy electric batteries. It seems generally people want either more GT-esque cars like the new emira or SUVs, and that's what has best chance of making money for lotus, particular with lotus's ropey financial history.
A lightweightEV roadster would promote the prices of the previous ICE incarnations IMO.
I really hope so. I guess it's just when the emira got launched it seemed to become overnight the prettier sister and overall preferred car to the evora with its baby lambo lines. I think the styling on the emira looks a little less clumsy overall, so figured if they rebuilt the elige platform, it could make older versions look a bit dated...less so the S1 as the looks are more classic, but perhaps the S2 which attempted to look more modern in its heyday. I think simplest fix on an S2 is probably to remove the inner front clam lights (refill with GRP) and replace the dated greyish plastic grilles with S3 black mesh ones to bring up to date. Mines had the grilles done and it makes a big difference.
In fairness, the top end evoras still have the emira beat on the weight and grunt front so purists (who may not want something quite as raw as an Exige but still want the power) may still opt for it. It may also become the rarer car if too many people end up buying the emira.
Pretty irrelevant anyway....wouldn't really want to sell unless I really had to (more likely just add to the stable
) and I think that probably holds true for many lotus owners, which all bodes well for prices as a whole.
In fairness, the top end evoras still have the emira beat on the weight and grunt front so purists (who may not want something quite as raw as an Exige but still want the power) may still opt for it. It may also become the rarer car if too many people end up buying the emira.
Pretty irrelevant anyway....wouldn't really want to sell unless I really had to (more likely just add to the stable
) and I think that probably holds true for many lotus owners, which all bodes well for prices as a whole.John Henry said:
I’m looking for a late S3. Prices are bewildering. All the dealer cars are mid £40’s and any private sale cars seem to be priced at barely any less. Most of the cars are welded into the classifieds. There’s a special order car in a Peppermint green colour with a dealer in Scotland that’s been for sale most of the year at an asking price in the late £40’s.
Perhaps owners would rather keep than sell at less than they think their car is worth.
In 2019 a 2017 220 would have been worth early/mid £30’s. Everything seems to be inflated price wise but that can’t remain the case forever.
Some of the cars have been on sale for a very very long time. I have a few performance cars on watch and your talking over 6 months to 10 months still for sale. Perhaps owners would rather keep than sell at less than they think their car is worth.
In 2019 a 2017 220 would have been worth early/mid £30’s. Everything seems to be inflated price wise but that can’t remain the case forever.
Some will sell of course but from what I can see it is slow, very slow.
The problem is stock coming in is also slow because there is nothing to move to, no deals to move to, no new cars to move to.
The new car market needs to move first to push the used market.
When it does move though, my word it will bloody move.
Posters above talking about solid residuals buying a car 2.5 years before and it still being worth the same or more is pointless. Most cars have done that. I had a good spec Boxster S I purchase in Jan 2020 and sold it for 25% more few months ago. It then turned up at a dealer and sold for a further 6k added on top. Its utterly bonkers.
I’ve seen the first few final edition cars coming up for sale used. Dealers are pitching the 240 at close to £60k. I look at buying one new and that was the retail on one. So anyone buying at that level is effectively paying list on a soon 2 year old car.
I don’t want a Cup- though they are more popular, I don’t care for the wing or the aero- I know many do. Elises aren’t GT3’s. They don’t have bespoke engines and frankly there’s not much difference between a 2017 car and the last of the line FE.
Doesn’t change the fact there’s nothing on sale I fancy more. Pity is, I just won’t stomach current prices. I’ll hang on till the right car is sub £40k.
I don’t want a Cup- though they are more popular, I don’t care for the wing or the aero- I know many do. Elises aren’t GT3’s. They don’t have bespoke engines and frankly there’s not much difference between a 2017 car and the last of the line FE.
Doesn’t change the fact there’s nothing on sale I fancy more. Pity is, I just won’t stomach current prices. I’ll hang on till the right car is sub £40k.
Gassing Station | Elise/Exige/Europa/340R | Top of Page | What's New | My Stuff