Not sure I agree with the salvage title valuation, but otherwise, yes, they do typically hover at $30k.

 

Yep, not much variance in price. Insurance valued mine last year at $5k more than I paid for it despite it being higher mileage over 3 years of use.

 

Isn't this an old Jalopnik meme? I suspect a good number of cars don't sell at listing price, FWIW.

 

Just as an FYI, mine sold for my asking price. I didn't remove it from my ad so that others could see what it sold for. Couple people tried to haggle me down, but the guy who ended up buying it couldn't be happier.

 

The spread on eBay for cars that actually sold over the last month is $5,000: $30,000-$35,000 for 2005s. An '07 sold for $38k. The highest I've seen a rebuilt title actually go for is about $5,000 under market. The market has gradually risen over the last couple years, and rebuilt cars seem to have followed (yay for me!).




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You can drop in a new motor for a few grand. These cars are so modular, that as long as the frame is in good shape, mileage doesn't really impact the value as much as it would a car with a lot more availability.

 

Mods do not add a ton to value especially if they are minor mods due to the fact you removed an item worth something to put on an item that is worth a little more so it is kind of a wash. Most lotus for sale are 2005/2006 models. Prices go up as the years do. 2010/2011 Elise usually go for high 30's to low 40's. Some put a really good price to get the car sold.

 

Mods do not add a ton to value especially if they are minor mods due to the fact you removed an item worth something to put on an item that is worth a little more so it is kind of a wash.

It amuses me how many people don't get this...across all types of cars. The car is supposed to have a suspension. It's supposed to have a motor. It's supposed to have brakes. Etc.

Modifications to a car, while sometimes desirable, don't really add value to the car unless someone is specifically seeking out said mods.

 

I can't wrap my head around salvage title Elise going for almost $30K. MAYBE if clean titles were selling for $40K, but not when most are listing at $30- $35K. Personally, I just can't justify it.

 

The market is rising on good Elises. I predict within 3 years all Elises will be 40k unless Lotus reintroduces them into this market (USA/Canada). I doubt they will as it will cost the 10 million to do so.

 

Ta Da!

I am a fan of Doug Demuro as his reviews are pretty funny and enjoyable to read. He describes this "price floor" of the Elise (30k) and uses it as an opportunity to drive one for free. Pretty good read.

Exiges seem to have the same trend. They're around the 40k-45k mark.

The exclusivity and niche market for these cars makes the relatively low demand larger than the tiny supply. This is what keeps the floor in place because buyers hardly ever see an Elige for sale that fits all of their requirements. People wait for months to find the car they want and cough up the 30k because if they don't, someone else will be more willing to. Who knows when the next one will show up?

 

I'm sceptical of the market is rising argument. The OP is right - they've been $30k cars for a while now (05s and 06s that is). And RW Bronco's thread has examples of cars selling for under $30k w/clean titles and reasonable mileage.

I can also think of several Elises on sale here which have taken ages to sell, despite being reasonably priced. So I am also sceptical that demand exceeds supply by much, if at all.

FWIW, I paid $29,900 in October.

 

I think the delta here is that most of us have daily drivers, so when a car goes up for sale, there's not much rush to sell it. Our cars are so impractical that the type of person who buys an Elise/exige is one that has the financial liquidity to buy a $30k toy.

Even though other cars are at similar price points, they are infinitely more practical, so there is a much higher percentage of single car owners and as a result, more urgency when a car is listed for sale.

 

Not quite accurate. My observation has been more like this:

Low mileage Elise '05: $27k-$33k
Low mileage Elise '06-'09: $29k-$38k (Exige add $1k, Exige S add $3k, S240 add $5k)
Low mileage Elise '10-up: $35k-$45k (Exige S260 add $6k)
Low mileage Elise SC (any year): $35k-$45k
High mileage Elise (any year): $25k-$35k (Exige add $1k to $6k depending on model)
Salvage Elise (any year): $16k-$27k

 

This seems about right. I'm shopping for one now and all I have to add is polar silver seems to be a lower priced color while Chrome Orange you can add $2-4k and K Green $3-5k.
Anyone know the color numbers for each year? Is CO a rare color or just more desirable?

What do you think a hard top adds?

 

^^^^

Best price guidance so far.

 

It just feels like every Elise is $30k since most Elises are 05-06.

 

This seems to be pretty on point.
But of course with any car, a very clean example with the right options/color combo can command a bit more.
I have been watching this market for awhile and i have seen 30-40k mi examples still selling for almost $30,000 at manheim auto auction recently.

 

Mine. Is for sale at 26k an it's not salvaged

 

Why is almost every Elise for sale an '05 or '06 ?
Did something happen in '07 and '08? Recession?
Anyone got sales figures?

 

http://www.lotustalk.com/forums/f3/lotus-elise-exige-u-s-production-figures-2005-2011-a-146442/

They imported fewer and fewer every year.

 

Wow, only 6000 total. Pretty rare car.
Any theories why sales figures dropped like a rock each year?

 

Any theories why sales figures dropped like a rock each year?

Yep, there were only 4,000 Lotus/lightweight stripped out sports car enthusiasts in the U.S. Once they all got a car the demand dropped to almost zero.

People like me that could not afford a new one waited for prices to drop and picked them up used.

 

I'm holding a bone stock 05 with 3300 miles.

 

Damn man, you should try driving it some time, I've heard they're fun cars.

 

Regarding mods, some people want to buy cars that have 'em, and some want bone stock. Regardless, I agree that mods themselves will only add nominal resale value in most cases.

Although I have no immediate plans to sell my car, I carefully saved every stock item that I've removed from my car. That way I could sell it in stock condition and then sell off the mods separately, or vice-versa.

Aside from a well-sourced and installed supercharger, and maybe an upgraded suspension, a hardtop is the "extra" item I would pay most for above-and-beyond base.

 

I've been in the market for an Elise. Over here (Chicago), seems locally I keep finding low mile 2005 (7-20k miles) hovering in the high 30s. From this thread it appears that is a bet on the high end for an '05. There was a '05 Touring with 30k miles for $33.9k.

 

Maybe stop looking locally?
Shipping costs $1500, and it looks like you'll make that back 5 times over,
since EVERY '05 Elise on LT is selling for $30k.

Lotus Cars For Sale - LotusTalk - The Lotus Cars Community

All low $30s, which you can negotiate.

http://www.lotustalk.com/forums/f94/2005-elise-32-000-clean-title-sf-bay-area-299122/
http://www.lotustalk.com/forums/f94/2005-storm-titanium-elise-f-s-296393/
http://www.lotustalk.com/forums/f94/sale-2005-elise-lotus-racing-green-16k-miles-292273/
http://www.lotustalk.com/forums/f94/2006-elise-sale-256049/

 

Not to mention the ones Wire Wheel has for sale in the same price range.

 

Our cars are so impractical that the type of person who buys an Elise/exige is one that has the financial liquidity to buy a $30k toy. Even though other cars are at similar price points, they are infinitely more practical....

+1 and I just bought my first Lotus and sold my GT3 RS to get it...really.

I'm a Porsche guy and have owned and tracked 15+ Porsches, but after driving my friends Elise on the track, I declared it the BEST car I have ever driven. Getting in and out of it........different story, but who cares as once you're strapped in,the driving experience is sublime.

 

Wish there were more Exige's on the market.

 

Bought my clean title '05 in 2009 for $31K. Sold it clean title two months ago for $31K. It had a bunch of mods that the buyer got for free. That's been the story for years. The price floor won't rise because these cars are getting older and while the engines are easy enough to rebuild or replace, the clams are more and more expensive and harder to find. In a few years these will be 10-15 year old cars and the market will have the first batch of used Alfa 4C's. Putting all else aside, at least they will be well supported for parts.