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-   -   I Don't Get It .... (https://www.lotustalk.com/forums/f164/i-dont-get-468420/)

BobWeber 04-28-2019 07:00 PM

I Don't Get It ....
 
Just received a notice from eBay that this '95 S4 asking price has been lowered to $32,995. I don't get it.....is there something I'm missing? The updates, modifications and care of the car is, clearly, the work of an avid owner and likely LotusTalk member. Should a car this nice command at least another $5k....or more? Does the 55,000 miles compromise the value that much....though the redo of carpeting and (seemly) interior leather is concerning.

https://www.ebay.com/itm/1995-Lotus-...57ea%7Ciid%3A1


Bob

sleekgt 04-28-2019 07:02 PM

Probably quick sale to pay bills.
Or angry spouse that says to sell it.
Donít ask me how I know c


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Erik L 04-29-2019 05:20 AM

That is a really neat car - I think people are just a little "scared" of old Lotus. Unfortunate, I think there is tons of DIY types would really enjoy them and could afford to buy and maintain them.

Seraph 04-29-2019 06:46 AM

Green has been a historically hard color to sell.

mieczkow 04-29-2019 12:55 PM

It's a beautiful example and of course I think it should commend more money. But I think it is realistically priced for a relatively quick sale. I like the green - we have a green SE in the shop owned by my partner and I think that racing green fits almost any British two-seater. The car looks impeccably clean and the upgrade to Spal fans and a three row radiator is a real plus. Like every Esprit owner I almost always think these cars sell too cheaply. Whoever ends up buying this one will be a lucky owner. Also nice to see someone took such loving care of the car.

Price-wise, our day will come! :-)

Tom

Nexus9 04-29-2019 03:40 PM

Well, in the world of sales there are some basic rules that govern the "value" of any item for sale. They sound simple, but they are really useful in understanding why things sell at a certain price. (worked in sales for more than 22 years)

1. Something is "worth" exactly what any one person is willing to trade at any given moment.

Sounds simple, right? Note that this has nothing to do with what you (the owner) paid for it, what you need to pay your bills, how much money you spent fixing it up after you bought it, or any other personal issues you are trying to solve by selling it. The interesting thing to note here is that at any given moment, ten different people might be willing to trade ten different amounts, and any one of those people might be willing to trade a lot more, or a lot less tomorrow or next week. That's because

2. What someone agrees to trade is based on two things: a. How closely the item meets their needs, and b. what options they have to meet those same needs.

Basically just a fancy way of saying Supply and Demand dictate price. Something can be impeccably clean, might've had a lot of money invested, been painstakingly cared for for 20 years, amazingly, none of that matters if nobody has enough interest to trade what you want in return for it at the time you decide to sell it. Crazy, right?

BobWeber 04-29-2019 05:42 PM

I've been saying that exact comment regarding home sales: it's worth what someone is willing to pay for it. But this car, though higher mileage, presents itself so well. Clearly, he had no takers at the $34k original asking price, which in itself is extremely reasonable, thus the lowering to $33k. Hagerty puts 'excellent' cars at $40k (based on actual sales) and I'd say this car is excellent by any measure.

However, replacing carpets and refurbishing the interior begs the question 'why'? There might be more to the story.

Erik L 04-30-2019 05:22 AM

Quote:

Originally Posted by Nexus9 (Post 5943142)
Well, in the world of sales there are some basic rules that govern the "value" of any item for sale. They sound simple, but they are really useful in understanding why things sell at a certain price. (worked in sales for more than 22 years)

1. Something is "worth" exactly what any one person is willing to trade at any given moment.

Sounds simple, right? Note that this has nothing to do with what you (the owner) paid for it, what you need to pay your bills, how much money you spent fixing it up after you bought it, or any other personal issues you are trying to solve by selling it. The interesting thing to note here is that at any given moment, ten different people might be willing to trade ten different amounts, and any one of those people might be willing to trade a lot more, or a lot less tomorrow or next week. That's because

2. What someone agrees to trade is based on two things: a. How closely the item meets their needs, and b. what options they have to meet those same needs.

Basically just a fancy way of saying Supply and Demand dictate price. Something can be impeccably clean, might've had a lot of money invested, been painstakingly cared for for 20 years, amazingly, none of that matters if nobody has enough interest to trade what you want in return for it at the time you decide to sell it. Crazy, right?


This takes all the fun out of it :-(:frown2:

Erik L 04-30-2019 05:26 AM

Quote:

Originally Posted by BobWeber (Post 5943184)
I've been saying that exact comment regarding home sales: it's worth what someone is willing to pay for it. But this car, though higher mileage, presents itself so well. Clearly, he had no takers at the $34k original asking price, which in itself is extremely reasonable, thus the lowering to $33k. Hagerty puts 'excellent' cars at $40k (based on actual sales) and I'd say this car is excellent by any measure.

However, replacing carpets and refurbishing the interior begs the question 'why'? There might be more to the story.


One thing that is different about homes and cars is the mortgage.

Bank wont lend you more than the home is worth so its kind of a "check" on the asking price. At least if you are paying attention and its a standard type home that can easily be 'valued'...

that may be over simplifying - In my experience when I tried to buy a house where the owner was asking too much the bank politely declined because the 'comps" did not support it.

With old cars most people are not getting that kind of loan or paying cash....so you have an opportunity to be irrational! :-)

esseye 04-30-2019 05:33 AM

Quote:

Originally Posted by Seraph (Post 5942930)
Green has been a historically hard color to sell.

Can confirm. When I was hunting for my Evora, there were 2 excellent listings in green. One a BRG and one a Heritage Edition.

Wife immediately veto'd both "ugly greens".

Somehow it feels like every Lotus is doomed to head for a value around $35k USD. Good thing I don't have any garage space, last thing I need is to own 2 of them.

Nexus9 04-30-2019 01:43 PM

Quote:

Originally Posted by Erik L (Post 5943302)
This takes all the fun out of it :-(:frown2:

Ha haha...

Ooops, you're right!

Sorry 'bout that. :nerd: :grin2:

Bt87cab 04-30-2019 03:05 PM

This S4 sold on BAT last November and was very well vetted in the comments, $32,500 +5% buyer’s fee = 34,125 all in.

https://bringatrailer.com/listing/1995-lotus-esprit-4/

Looks like the BAT seller documented some of the work on his website:

http://www.jimphoenix.com/1995-lotus-esprit-2/

The usernames are the same (BAT buyer and eBay seller). Simple Google sleuthing on the phone number in the eBay description:

https://scaledetails.com/meet-the-owner/

Most of the eBay description is copy/pasted from the BAT auction. My take - hypothesizing - the current owner/seller is an enthusiast who’s enjoyed the car and is ready to move on. I’ve owned some cars for months, enjoyed them and was ready to move on. Others I had for years. Each car is different.

Whether there’s are any issues or not with the car is up to the prospective buyer to perform their due diligence.

It’s refreshing to see the seller recognizing the market spoke recently as to the value. I’m a long time Porsche enthusiast/owner (hopefully an Esprit owner soon). It is amazing to see the flippers and greed in the P-car circles. Seems the Lotus crowd is pretty level headed, and not a bunch of Gordon Gekko’s.

BobWeber 04-30-2019 04:12 PM

1 Attachment(s)
Nice website from a guy not afraid to tackle things!...especially the radiator/fans package. On the site, the car is shown without the mid-wing (??), which should make Atwell really happy!

lotus90 05-04-2019 07:15 AM

It can be difficult to own a S4 esprit. finding a good mechanic can be hard if you are not good with tools. i tried to buy a esprit and gave up because they all needed work. Elise is easier to own and work on/ get parts

beinmymirror 05-04-2019 10:31 AM

Your correct. I had an 05 Elise for 8 years or so, loved it. But than got the itch to go back to an esprit. Love it even better. All work is up to date and fortunately have a good place to take it for repairs.


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