Where are all the newer V8 Esprits?
Discussion
Have been keeping an eye out for late V8 esprits (on behalf of a relative) preferably 2002+ (but also 2000+) but there are very few for sale. Those that are for sale are in colours that he does not like namely red and silver and none are ever private sales meaning prices are expensive considering the dealer markup.
I believe there are approx 46 2002+ V8s and god knows how many 2000 and 2001 cars in the UK. Given that my relative is tight with his cash i.e only will purchase a bargain I am guessing he has no chance in picking one of these cars up.
Anyone know any for sale?
Guide price he is looking to pay is around £22K for a 2002 car, a bit more for a newer car but much much less for anything pre 2002 upgrades.
He has seen all the ads on Pistonheads, Lotus Esprit World and Autotrader but likes none. His ideal car would be a Black 2002 car for £22K.
I believe there are approx 46 2002+ V8s and god knows how many 2000 and 2001 cars in the UK. Given that my relative is tight with his cash i.e only will purchase a bargain I am guessing he has no chance in picking one of these cars up.
Anyone know any for sale?
Guide price he is looking to pay is around £22K for a 2002 car, a bit more for a newer car but much much less for anything pre 2002 upgrades.
He has seen all the ads on Pistonheads, Lotus Esprit World and Autotrader but likes none. His ideal car would be a Black 2002 car for £22K.
Edited by Creditcrunch on Wednesday 20th January 23:55
He needs to relax his criteria for the car and add £3k IMO.
46 cars to pick from, probably 3/4 black ones and late Esprit owners aren't fluid in ownership as it's an enthusiasts car so ownership is generally a long term relationship with the car. He's going to struggle.
Final Editions are £25k cars. He'll not get a bargain, it's a 175mph supercar with looks to match, people don't sell them cheap.
46 cars to pick from, probably 3/4 black ones and late Esprit owners aren't fluid in ownership as it's an enthusiasts car so ownership is generally a long term relationship with the car. He's going to struggle.
Final Editions are £25k cars. He'll not get a bargain, it's a 175mph supercar with looks to match, people don't sell them cheap.
Ditto on what Bibs says. You're searching the right places....you're just going to have to keep on searching. They do pop up from time to time...in fact, I'm surprised that there are three for sale (perhaps two now I think) because Bibs is right, we keep them for a long time. They are like a house, and you keep on upgrading it when you have some spare cash (and even when you don't). I have two and I can't even seem to let one go! If I didn't think my wife would kill me I'd have three. 
There's a blue one on Autotrader but it's close to 28000. Good luck.
There's a blue one on Autotrader but it's close to 28000. Good luck.
Edited by mikeS350 on Thursday 21st January 10:49
Edited by mikeS350 on Thursday 21st January 17:01
Creditcrunch said:
Guide price he is looking to pay is around £22K for a 2002 car, a bit more for a newer car but much much less for anything pre 2002 upgrades.
He has seen all the ads on Pistonheads, Lotus Esprit World and Autotrader but likes none. His ideal car would be a Black 2002 car for £22K.
Sorted or limited edition Esprits often never reach the open market place. The last of the Esprits have the best of everything and are the ones to keep IMO. These will not be given away for 22K unless something personal comes up with the owner that the car needs to be moved on quick!He has seen all the ads on Pistonheads, Lotus Esprit World and Autotrader but likes none. His ideal car would be a Black 2002 car for £22K.
Edited by Creditcrunch on Wednesday 20th January 23:55
Good luck
Looks like that lazer blue one for sale at £28K both here and autotrader is a recent advert. I however do remember it being previously advertised many months ago but for a higher price. Guess the seller didnt get any takers hence his revised price of £28K.
It is a nice car and no doubt an example that my relative would like as lazer blue and gunmetal/titanium are other preferred colours. However the price will mean he will not even bother to enquire about the car.
His reasoning is that if dealers are struggling to sell them for £25K how is anything above this good value? Of course we know that the condition of each car will be different but regardless of this he will expect cars from dealers to be mint as well as good dealers only take good cars.
I guess he will just continue to wait.
It is a nice car and no doubt an example that my relative would like as lazer blue and gunmetal/titanium are other preferred colours. However the price will mean he will not even bother to enquire about the car.
His reasoning is that if dealers are struggling to sell them for £25K how is anything above this good value? Of course we know that the condition of each car will be different but regardless of this he will expect cars from dealers to be mint as well as good dealers only take good cars.
I guess he will just continue to wait.
Edited by Creditcrunch on Thursday 21st January 20:51
Edited by Creditcrunch on Thursday 21st January 21:02
Private sellers aren't particularly looking to offer value and I'd imagine with a £28k second car he's not desperate for cash or he wouldn't have such a car in the first place. It's a sellers market for these cars, there aren't many of them about.
There's a Sport300 for £40k and a Turbo SE for just shy of £15k up for sale, that's not value either. As I said, these are enthusiasts car and it's like selling an organ to some.
There's a Sport300 for £40k and a Turbo SE for just shy of £15k up for sale, that's not value either. As I said, these are enthusiasts car and it's like selling an organ to some.
To be clear, his price of £22K is not his "value" price.
£25K dealer price = £22K ish private price.
i.e his max price which he still wouldnt be too keen to pay but will do so because of the limited numbers.
Of course owners have the right to put up their cars for whatever they want.
Its the good old supply and demand. However both sides need to remember the middleman man i.e the dealer. The middleman is currently at the £25K level for a 2002 car. The supply and demand mechanics do not work if either side do not factor this level in.
There was a silver 2002 model advertised on here privately for £22K about a year ago. I think it may be the one that the dealer recently sold which is advertised here for just under £24K. Having declined this car based on colour it will be very hard to pay anything over this amount a year later (i.e now) or longer.
£25K dealer price = £22K ish private price.
i.e his max price which he still wouldnt be too keen to pay but will do so because of the limited numbers.
Of course owners have the right to put up their cars for whatever they want.
Its the good old supply and demand. However both sides need to remember the middleman man i.e the dealer. The middleman is currently at the £25K level for a 2002 car. The supply and demand mechanics do not work if either side do not factor this level in.
There was a silver 2002 model advertised on here privately for £22K about a year ago. I think it may be the one that the dealer recently sold which is advertised here for just under £24K. Having declined this car based on colour it will be very hard to pay anything over this amount a year later (i.e now) or longer.
Edited by Creditcrunch on Friday 22 January 11:26
Hi Creditcrunch,
I think the silver V8 you were referring to that was recently up at a dealer for £24995 and then £23995 was a car I sold for a friend of mine about a year ago. It was up for £26495 I think and he took £24K I think in the end. The guy bought it also became a friend of mine and he recently traded it in for a launch edition Evora. The dealer in question hadn't sold their launch edition Evora so I think they wanted to just move their stock. I think the sold the Esprit for what they took it in as part ex, yes he got £24K as a trade in!
So I think £24K upwards is what you are looking at. I did recently sell my other friend's 02 plate for £21K but we didn't advertise it and I found another guy who is also now a good friend of mine to buy it within 24 hours. These sort of prices are pretty rare.
I have a titanium V reg Esprit V8 with the 03 updates on and I would be asking similar price for mine. Mine's pictured here www.espritperformance.com
Regards,
David Walters
I think the silver V8 you were referring to that was recently up at a dealer for £24995 and then £23995 was a car I sold for a friend of mine about a year ago. It was up for £26495 I think and he took £24K I think in the end. The guy bought it also became a friend of mine and he recently traded it in for a launch edition Evora. The dealer in question hadn't sold their launch edition Evora so I think they wanted to just move their stock. I think the sold the Esprit for what they took it in as part ex, yes he got £24K as a trade in!
So I think £24K upwards is what you are looking at. I did recently sell my other friend's 02 plate for £21K but we didn't advertise it and I found another guy who is also now a good friend of mine to buy it within 24 hours. These sort of prices are pretty rare.
I have a titanium V reg Esprit V8 with the 03 updates on and I would be asking similar price for mine. Mine's pictured here www.espritperformance.com
Regards,
David Walters
I'd agree your friend is either going to have to set his sights lower or increase his budget. Whatever he decides to do he needs to move quick - prices are firming and have been for a year or two I reckon. I bought my first, a 1998 V8-GT (dash facelift), in Oct 05 for £18k. It was written off on black ice two and a half years later, at 49k miles and the insurance paid out at £18k. Bit of a result. I bought another, a late 2001 V8-GT in June 08 for £21k. In black, my favourite colour (as are my other 3 cars!)
Looking at the prices now, I feel that was a bargain. Murray in Edinburgh have a very tidy 1998 V8-GT in azure blue, magnolia interior, for £22k. OK, its a dealer and that does include a Lotus warranty and 12 months RAC, but the price is indicative of their rarity these days.
Looking at the prices now, I feel that was a bargain. Murray in Edinburgh have a very tidy 1998 V8-GT in azure blue, magnolia interior, for £22k. OK, its a dealer and that does include a Lotus warranty and 12 months RAC, but the price is indicative of their rarity these days.
Edited by Hedgerley on Saturday 23 January 12:59
Edited by Hedgerley on Saturday 23 January 13:01
fesuvious said:
I sold a GT3 in 2004, its worth the same now as I sold it for !
Yep.I bought a 21,000 mile 1987 Turbo HC from Paul Matty's for £15,000 nearly ten years ago.
I sold it privately three years later at 26,000 miles for exactly the same amount.
Then I bought the very same car back again at 28,000 miles a couple of years ago.
I'll not admit in public what I paid to buy it back, but it was more than I sold it for.
I am more interested in condition, mileage and history and less interested in whether it is a private or trade sale and I would willingly pay a big premium to buy exactly the right car.
There are loads of tired and scruffy Esprits for sale.
Kylie is right. The absolute minters often change hands without ever coming onto the market.
Saw this in the window of Westover cars on Saturday - looks fantastic but personally prefer a lighter colour interior
http://www.westovergroup.co.uk/used-cars/view/2730...
http://www.westovergroup.co.uk/used-cars/view/2730...
Anyone know anything about this car?
http://www.pistonheads.com/sales/1476526.htm
Is it correct to assume that since it is being sold by a non lotus dealer or even a recognised dealer that it is likely to have been purchased from an auction and thus will more likely have a shady history?
Anyone have any info before we go and view it.
http://www.pistonheads.com/sales/1476526.htm
Is it correct to assume that since it is being sold by a non lotus dealer or even a recognised dealer that it is likely to have been purchased from an auction and thus will more likely have a shady history?
Anyone have any info before we go and view it.
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