Outlook on Esprit Prices
Discussion
hi there im very disapointed with the esprit prices dropping also.i purchased my 03 1/2 4 months ago and its dropped big,not sure why they dont hold their prices like other exotics and theres only a handfull for sale.i heard of one dealer selling a 04 model for 69 k that really hurts for esprit values.just my thoughts
adam
adam
Esprits have always traditionally dropped like the proverbally stone. I assume that nobody purchases one of these cars for an investment, at least I hope not, without performing some research on them and looking at prices.
The low end of the market is still dropping, by low end I mean 80s and early 90s 4 cylinder cars, although not dropping a whole lot. Hardest hit will be the newest cars, that much is certain. Buying these things used, is in my opinion, the best way to purchase them - let the 1st and 2nd owners take the loss and the 3rd and up owners after 4 years and higher comes away with a car they can use without fear of big depreciations.
Ron
The low end of the market is still dropping, by low end I mean 80s and early 90s 4 cylinder cars, although not dropping a whole lot. Hardest hit will be the newest cars, that much is certain. Buying these things used, is in my opinion, the best way to purchase them - let the 1st and 2nd owners take the loss and the 3rd and up owners after 4 years and higher comes away with a car they can use without fear of big depreciations.
Ron
armynick said:
I'm a bit disapointed to see that GT3 prices seem to be dropping a little is the the future trend or am I getting paranoid?
Me too, though I try not to look. I bought mine with the thought that examples 10 years older were still fetching good money (£10k plus), so thought 10 years use would cost roughly £1k depreciation per annum. Seem to have gone though a good 1/3 of that in 2 years... gulp!
>> Edited by britten_mark on Sunday 2nd January 23:10
To give you an idea of GT3 prices, I bought mine for £35k and sold it for £16k 6 years and 65k miles later. So that's a tad of £3k a year. But, you can look at it this way : £16k/£40k = 40% of new price for a 7 year old car. How many cars fetch that percentage when they are 7 years old ?
Adrian
Adrian
As my account mentionioned; the collector car market currently provides diminished return on investment. Like all commodities however, there are most certainly exceptions to this statement. The Lotus Esprit, I do not believe, is one. Buy, restore, and enjoy one of these wonderful machines but do not go into this market thinking you will end up ahead of the depreciation cycle after a few years of ownership. Especially if you went to the bank for the money. That would have put you another 5 - 8 percent farther back.
Best of the Season to all.
Steve
Best of the Season to all.
Steve
Its classic supply and demand. The supply of the car exceeds the number of people who appreciate and desire it. You can't sell a used 03 Esprit for $70k because there is no one out there who wants one at that price.
Again, I'd quit worrying about it and enjoy the cars. If you love the car, who cares about the depreciation hit?
Again, I'd quit worrying about it and enjoy the cars. If you love the car, who cares about the depreciation hit?
Depreciation is a fact of life with Esprits. 04s will be selling for $55k in two years, or close to it I bet.
On another thread someone said "Sellers don't sell your Esprits for such a low price". Well, not much you can do about that. My Esprit is up for sale and it'll sell for what the market will pay. I could offer it for $30k, but then it wouldn't sell.
As Jeff said, buy the cars and enjoy them, that is what I have done. I'll lose some money selling mine, for sure, but I've enjoyed owning it and it has been a great experience.
If you want an Esprit buy a used one, in my opinion, and save yourself some depreciation. Those first 2-3 years are rough on the value of a car!
On another thread someone said "Sellers don't sell your Esprits for such a low price". Well, not much you can do about that. My Esprit is up for sale and it'll sell for what the market will pay. I could offer it for $30k, but then it wouldn't sell.
As Jeff said, buy the cars and enjoy them, that is what I have done. I'll lose some money selling mine, for sure, but I've enjoyed owning it and it has been a great experience.
If you want an Esprit buy a used one, in my opinion, and save yourself some depreciation. Those first 2-3 years are rough on the value of a car!
depends on the car$$$$ a perfect low mileage beauty will allways attract buyers. If there is something special and rare you can get top $$. Nyone watch barret-jackson on sat?
New you allways loose unless you buy at below dealer dump cost.
if you love it, its priceless.
$$$$$$$$$$$$$$$$$$$$$$$$$$$ 125k for my s4s!!!!!!! Outrageous!
New you allways loose unless you buy at below dealer dump cost.
if you love it, its priceless.
$$$$$$$$$$$$$$$$$$$$$$$$$$$ 125k for my s4s!!!!!!! Outrageous!
solar said:
depends on the car$$$$ a perfect low mileage beauty will allways attract buyers. If there is something special and rare you can get top $$. Nyone watch barret-jackson on sat?
New you allways loose unless you buy at below dealer dump cost.
if you love it, its priceless.
$$$$$$$$$$$$$$$$$$$$$$$$$$$ 125k for my s4s!!!!!!! Outrageous!
What???!!! Did someone really pay that? Was it stock?
More depreciation..............
The 350 I went to see a few months ago is up for sale again at Nick whale sportscars for £27,950.
www.pistonheads.com/sales/detail.asp?i=34351&s=11
As I recall it was up for £31,995 when I saw it last in October.
The 350 I went to see a few months ago is up for sale again at Nick whale sportscars for £27,950.
www.pistonheads.com/sales/detail.asp?i=34351&s=11
As I recall it was up for £31,995 when I saw it last in October.
Angelis said:
More depreciation..............
The 350 I went to see a few months ago is up for sale again at Nick whale sportscars for £27,950.
www.pistonheads.com/sales/detail.asp?i=34351&s=11
As I recall it was up for £31,995 when I saw it last in October.
Not Really, the last one we had was a V Reg, this one is a T Reg, and its done about 10,000miles more, taking these factors into account prices have moved very little
I knew what I was getting into when I bought into Lotus but it doesn't make it any easier eh?
I must have easily spent £10K on up-grades, new parts, servicing and insurance etc in the 2.5 years that I've had it.
No wonder I'm skint! Now the air-con pump has gone and the cat pipe too...Yipeee!
I've got 60k on the clocks but will have at least 100k before I sell her.
I must have easily spent £10K on up-grades, new parts, servicing and insurance etc in the 2.5 years that I've had it.
No wonder I'm skint! Now the air-con pump has gone and the cat pipe too...Yipeee!
I've got 60k on the clocks but will have at least 100k before I sell her.
When I sold my car in November I lost $500 on the deal.
If you count maintnence/tweaking costs. I lost about $1500 more on the car, lost an additional $1300 on the sales tax and title transfer fees, $250 on airfare/fuel when I picked up the car and drove it home.
So I suppose I lost $4250 while driving the car for 4 driving seasons. It is an acceptable loss for years of fun. Lotus cars will drop to about 40-50% of their new value and level off. Their prices will be pretty stable around the 7-10 year old mark.
If you count maintnence/tweaking costs. I lost about $1500 more on the car, lost an additional $1300 on the sales tax and title transfer fees, $250 on airfare/fuel when I picked up the car and drove it home.
So I suppose I lost $4250 while driving the car for 4 driving seasons. It is an acceptable loss for years of fun. Lotus cars will drop to about 40-50% of their new value and level off. Their prices will be pretty stable around the 7-10 year old mark.
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