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I used to own an Elise about a year ago and have been itching to get another one, so I checked online for one. Now, I haven't been back on the forum for a year so I don't know what has been going on.

WHY are there barely any for sale? And why are they so expensive now? I mean, I'm glad that they are holding their value but... Can someone please explain to me what the heck happened? How the value of elise/exige went up and the Evora's are crap?
 

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I used to own an Elise about a year ago and have been itching to get another one, so I checked online for one. Now, I haven't been back on the forum for a year so I don't know what has been going on.

WHY are there barely any for sale? And why are they so expensive now? I mean, I'm glad that they are holding their value but... Can someone please explain to me what the heck happened? How the value of elise/exige went up and the Evora's are crap?
Evora's are overpriced to begin with. And they do attempt to actually compete in a car segment.

The Elise/Exige MAY be cross shopped with everything from a Miata to a Cayman, but at the end of the day they are a niche unto themselves. If you want a car like an Elige, you really only have one choice.

Total Exiges (estimates)
About 300 06 (N/A)
about 300 07
about 150 or so 08
Probably less than 150 total 09 to the present.

Less than 1000 Exiges total in the U.S.
 

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The street version of the Elise and Exige are no longer imported into the United States. There is a standing pool of people who want one of these cars. Supply and demand drive the price on everything. New Supply equals Zero, Used supply equals a fixed number, price goes up (or does not significantly decline). The street version of the Evora is still imported.
 

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It's a good time to be an Elige owner:)
 

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The street version of the Elise and Exige are no longer imported into the United States. There is a standing pool of people who want one of these cars. Supply and demand drive the price on everything. New Supply equals Zero, Used supply equals a fixed number, price goes up (or does not significantly decline). The street version of the Evora is still imported.
Yes, but what happens to that standing pool if the price creeps up? Correct that Supply and Demand drives everything, but price is a big factor in driving demand.

Remember, there was 'a lot' of pent up demand for the Elise when it first got here. But that demand was satisfied very quickly. Because of pre-orders they thought they would easily sell more 05's than they actually were able to at MSRP. By the end of 05 model year you could get really good discounts on a new car off MSRP.

I paid MSRP for my first Elise in January 05. Later that year I bought another new 05 Elise with about $8K off MSRP.

In August 08 I bought a brand new leftover 07 Exige S, right before the dealers were directed to start the warranty clocks on the leftovers, for $46K.

That drying up demand was reflected in a lot fewer 06's being brought in, and a dramatic drop off thereafter. Exiges are rarer, true, but after the 06/07 MY's, demand for THEM dropped way, way off.

I believe what is driving the demand now is that the prices have come down so far. Sports car guys who were in the used S2000, 350/370Z, RX8 and even Miata spaces can now aspire to own a used Elise or Exige, especially the Elise, because purchase price used is so affordable.

Let the prices start creeping up, and watch that demand diminish.

The rarity of the Exige will work in its favor (although the Elise is hardly commonplace) and allow it to hold value, or at least depreciate slower. But again, their demand will slow as the price goes up.
 

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Let me give you some perspective.

* The previous owner of my Sport Elise purchased it for $32k
* I bought it for $37k (they wanted $40k) only a couple of years after.
* If i had to sell it today, i wouldn't give it up for anything under $45k. It's 1 out of 50 units and it's the best car i've ever driven.
 

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Yes, but what happens to that standing pool if the price creeps up? Correct that Supply and Demand drives everything, but price is a big factor in driving demand..

Let the prices start creeping up, and watch that demand diminish...
I agree with what a few folks have stated... that the rising price is directly related to supply vs demand. Though in your comment above, I believe you have misstated one item. The supply of used Exiges is not at a steady state (standing pool). As cars are crashed and totalled, the supply is actually diminishing at a steady rate. That decreased supply will, to some degree, further offset the decreased demand as the prices rise.
 

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I have been saying they will be like land rover defenders for years.
 

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demand is moderately low, but supply is very low. I wonder how many market threads we have had lately...
 

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Let me give you some perspective.

* The previous owner of my Sport Elise purchased it for $32k
* I bought it for $37k (they wanted $40k) only a couple of years after.
* If i had to sell it today, i wouldn't give it up for anything under $45k. It's 1 out of 50 units and it's the best car i've ever driven.
As one of 50 identical Elises that year, that made it the most common Lotus produced that year.
 

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I agree with what a few folks have stated... that the rising price is directly related to supply vs demand. Though in your comment above, I believe you have misstated one item. The supply of used Exiges is not at a steady state (standing pool). As cars are crashed and totalled, the supply is actually diminishing at a steady rate. That decreased supply will, to some degree, further offset the decreased demand as the prices rise.
That can be said of any car no longer in production, and especially so for cars that have some enthusiast appeal. The Exige is not the first enthusiast car to go out of production. Won't be the last.

Look at the Esprit. They averaged what, 100 or so a year over 20 years? The X180R, as rare as THEY are (20 street versions) generally change hands for about 2/3rds of their original MSRP, if that.

Complicating the value thing is that right now the Elise and Exige are seen as drivers cars, cars to be driven here and now. They are not collectibles. Many are tracked, and if not daily drivers see a fair number of miles during driving season. Each mile diminishes value.

Rising price is based on supply and demand. True enough. I believe that the rising price will actually curb demand, leveling off prices or driving them down a bit.
 

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