Planning on selling my '05 Elise. Help with asking price?

[Frank Amoroso]

Greetings everyone,

Well, seeing as how I've got a 3 month old daughter and I'm set to close on a new house in less than two weeks (which, of course, represents a bigger monthly nut than my current house), I have come to the conclusion that I should sell my Elise. On the one hand, I REALLY don't wanna. The car is just such a joy to drive and as an automotive journalist I can confidently say that it truly is unique in the world of autodom. OTOH, trying to get alone time with her these days is causing some stress on the home front, so some cash in the bank and a brief hiatus make sense. I'm not ruling out getting back in the Lotus game in a few years via an Exige S 240 (50 extra horse never hurt anyone). Furthermore, I have been kicking around the idea of having a different car on hand for winter use (i.e. ski rig, ice-autocross, ice track use up at the Bridgestone Winter Driving complex in Steamboat Springs) so an R32 or a previous gen Audi S8 could be in the cards in the interim.

So, the reason I am posting this entreaty for help up is that the car has a number of, IMO, very desirable upgraded parts / modifications and I don't know what I should ask for the car either in its “as delivered” condition or in its “currently configured” state. I know that prudence and common wisdom dictate that in order to maximize value, one should return the vehicle to its stock state and to sell the aftermarket goodies off separately. However, I am curious…

What should I offer the vehicle up for sale for in its current configuration and what should I ask for it were I to return it to its as delivered state?

Here are the details: I purchased the vehicle new from Hunting Ridge Motors in March of 2006 (as such, it is still covered under the factory warranty until March of 2009), it is Graphite Grey on black, has 12,500 miles and it is located in Boulder, CO. Here is how the vehicle was delivered:

2005 Lotus Elise
Hard Top
Lifestyle Paint (Graphite Grey)
Sport Pack
Star Shield
Touring Pack

Plus Hunting Ridge added the following items:
Stage II Exhaust
Satin silver stripes
Stainless steel braided brake lines
Seatback grommets

Furthermore, Hunting Ridge modified the following items:
LSS wheels powdercoated black
Diffuser powdercoated black
Fuel filler door powdercoated black

Plenty of pics of the as delivered state here: amoroso : photos : Elise (after)- powered by SmugMug

In the interim, this is how the vehicle is currently configured, in addition to the above:
S111 Harness Bar
S111 CRD mount
S111 folding front tow hook
Stealth front turn signal bulbs
S111 black micromirror
JL VR-525CXi front speakers (w/ Jim Clayton’s adapter rings)
JL VR-525CXi rear speakers
S111 WorksBell Rapfix II Quick Release steering wheel hub
OMP Superquadro steering wheel
Passenger side airbag delete
Graphite Grey HVAC surround
Graphite Grey Shifter Console (rear portion covered w/ clear bra)
Graphite Grey engine covers w/ black script and satin silver stripe
S111 red fire extinguisher and bracket
BWR Unikey
S111 DownLow driver seat rail (modified for more leg / steering wheel clearance and an increased adjustment range)
Reverie Mulsanne C carbon fiber driver and passenger seats
S111 Fixed Passenger Side Seat Subframe Kit
Pagid RS-14 front and rear brake pads
Fujita CAI
S111 RTD Brace
FF engine damper
FF tubular exhaust manifold w/ high-flow cat
Charlie X ECU (lower cam changeover, FF header, high-flow cat / cat bypass, Fujita CAI).
Carpeting removed
Interior sound deadening removed
Smoked (VHT Nite Shades paint) rear reflectors
Lotus rear badge

People’s thoughts as to relative market values / suggested market values would be very much appreciated.

Note: I’m posting this in General Discussion as the Lotus Cars For Sale section stipulates: “Notices only. No discussion, no replies.”

Thanks,

[s14roller]

Stock low 30s. I would part out the mods if you want to make more back. Otherwise I think mid 30s modded.

[stinkyonion]

Wow, nice. Keep it. Wont recoup most of that. Second choice is to sell on this forum for about 36k. Even that is optimistic this time of year (winter approaching and new models being unveiled). Off this forum most buyers dont know what those addons are. You can ask for more but remember lowest priced car is the one that actually sells. If doesnt sell would piece out many of those addons (I want half of them) and sell more stock vehicle for slightly less. Finally, if you just want to get rid of it put on ebay with no reserve, will likely go for around 33k.

[serpent]

i would say 35-37k wit the mods....

i would personally take out all the mods (take it back to stock) and sell the stock car for 30k and sell the mods.

[madden]

$32,500

[Elise8206]

Keep the car if not let it go @ 39k

[CertifiedCC]

31.5K w/out mods and 32K w/mods. better to part out

[lotusforsale]

Originally Posted by Elise8206

Keep the car if not let it go @ 39k

Can pick up a nice 06 Exige for that or less.

Very low 30's with or without mods, so part them out and net more.

[CertifiedCC]

Originally Posted by lotusforsale

Can pick up a nice 06 Exige for that or less.

Very low 30's with or without mods, so part them out and net more.

heck you can find a '08 unregistered stock elise with about 2-3K more and sometimes just a bit less. Searching is all you need do.

[lotusforsale]

Originally Posted by CertifiedCC

heck you can find a '08 unregistered stock elise with about 2-3K more and sometimes just a bit less. Searching is all you need do.

Too true. Had my nearly new 07 Exige S that I bought as a new car for what I believe is a very reasonable price at a very large car show in Ocean City, MD today. About 2500 cars of all kinds.

If I heard it once, I heard it a dozen times from people walking by. One person (usually a wife/girlfriend) asks companion what kind of car it is...and the (usually male) companion would say...'Aw...that's just a $30K car."

To the average person simply walking by the car, there is no visual distinction between the Elise and Exige. And to many enthusiasts who wanted in on the new Lotus, but couldn't afford the low $40's price of admission when they were first introduced, they are simply a low $30's/high $20's car now on the used car market. Almost regardless of mileage and options.

It's a really weird market for these cars. On the one hand, it's a buyer's market because often sellers are very willing to sell low to get rid of the car, thinking they'll be sitting on it forever at a higher price.

On the other hand, buyers are expecting to buy very low mileage, totally unmarked showroom quality cars for low $30's high $20's...and often stipulate specific combination of colors, options, mileage, etc. As if there are a whole lot of these cars on the road. Oh, and they always have 'cash in hand.'

What they often don't realize is when they say "Looking for a CO 06 Elise with touring, starshield, LSS" they may be talking about a grand total of a couple dozen cars meeting that exact description being shipped to the US. And at any given time maybe only a couple of those, nationwide, might be for sale.

[FIRME]

I checked the Manheim Report to see what dealers are paying for a 2008 N/A Elise and none haved popped up so far. I checked Cars.com and nothing either but when I go to Autotrader, I see that :

Park Place has (1) new
Midwestern Auto Group has (3) new
Lotus of Atlanta has (1) new
Lotus of Jacksonville has (1) new
Used car lot in Ohio (Toy Barn) has 1-used

None of those stores are anywhere near $39K and the least expensive one is a NEW car for $48,885.

My understanding is Lotus brought in roughly (10) N/A Elise and the rest are Elise SC & Exige 240.

[Noisycow]

Low 30s - nice looking Elise though. The best advice would be to start at $35 or so and hope for 32k-33k.

[CK_lotus]

$31-32K

[CertifiedCC]

Originally Posted by FIRME

I checked the Manheim Report to see what dealers are paying for a 2008 N/A Elise and none haved popped up so far. I checked Cars.com and nothing either but when I go to Autotrader, I see that :

Park Place has (1) new
Midwestern Auto Group has (3) new
Lotus of Atlanta has (1) new
Lotus of Jacksonville has (1) new
Used car lot in Ohio (Toy Barn) has 1-used

None of those stores are anywhere near $39K and the least expensive one is a NEW car for $48,885.

My understanding is Lotus brought in roughly (10) N/A Elise and the rest are Elise SC & Exige 240.

fact is, thats BS and only an idiot would buy for those prices. I HAVE seen and I'm sure some ppl here have it one at around 40K. in fact, someone here made a thread about one for 42k but was accidentaly sold to someone else. Point is, I am right and dont BS here.

[Noisycow]

Price critic - please don't be offended by others opinions - what do you want, worship?

[CertifiedCC]

Originally Posted by Noisycow

Price critic - please don't be offended by others opinions - what do you want, worship?

maybe........it's just that he knows he's BS'ing and thinks he can raise the price of Lotuss like that. Kinda annoying

P.S. continue ur avatar changing I like'em!

[Mr. Know]

Originally Posted by CertifiedCC

fact is, thats BS and only an idiot would buy for those prices. I HAVE seen and I'm sure some ppl here have it one at around 40K. in fact, someone here made a thread about one for 42k but was accidentaly sold to someone else. Point is, I am right and dont BS here.

Wow, that sounds great...when are you buying one?

[CertifiedCC]

Originally Posted by Mr. Know

Wow, that sound great...when are you buying one?

buying 2 in spring, one used and 1 new. I made sure i am up to date with prices. i did not lower em. Plus 1-5k wont really matter to me as i have a good job i just like keeping this game fair.


Edit: i dont care if something is expensive, as long as i'm not getting ripped off. heck even if it isnt worth the price, as long as im not being ripped off, Ill buy it

[lotusforsale]

Originally Posted by CertifiedCC

buying 2 in spring, one used and 1 new. I made sure i am up to date with prices. i did not lower em. Plus 1-5k wont really matter to me as i have a good job i just like keeping this game fair.


Edit: i dont care if something is expensive, as long as i'm not getting ripped off. heck even if it isnt worth the price, as long as im not being ripped off, Ill buy it

'being ripped off' does not have a precise definition, I might point out.

The market, ie supply and demand, will set the prices. Not you, or anyone else for that matter.

When you go to buy, I wish you the best of luck. If you run across sellers with cars configured the way you want, who don't want to budge, well...that's their right. And your wrong.

[logan2z]

Originally Posted by CertifiedCC

heck you can find a '08 unregistered stock elise with about 2-3K more and sometimes just a bit less. Searching is all you need do.

Hmm, I'd like to know where. I've been hunting for an Elise for a while and the best I've seen even on a new old stock '07 Elise is in the low 40K region, and that's with just Touring, SS, and hardtop. New old stock '07 Exiges are in the $52K range. These prices on 2 MY old cars surprise me, but that's been my experience thus far...