The Lotus Cars Community banner

1 - 15 of 15 Posts

·
Registered
Sold Elise SC
Joined
·
22 Posts
Discussion Starter #1
I've been watching the market for a couple of months now waiting for the right example to become my first Elise. I check the market pretty much daily and have seen every car listed on every dealer platform/ craigslist/ facebook marketplace/ lotustalk classifieds. The last month or so I have noticed Elise's have been selling much faster and the average listing price has increased a couple of thousand dollars. I've been watching for months, not years, so I was wondering if this is a normal seasonal uptick going into the summer months (in which case I'll sadly wait until later in the year) or if the market is just picking up in general? I'm in SoCal so the time of year for me doesn't really matter (although I'm beginning to feel impatient). Cruising days are year-round down here.
 

·
Registered
Joined
·
4,406 Posts
I think the general logic is that sports car markets are seasonal, but I've not seen that really to a great effect. I blame the internet since people without winters can buy cars from those with winters, so there isn't a huge drop in overall demand. Probably what you've seen is more related to Covid panic. March saw the markets plummet, so splurging on a sports car probably wasn't a high priority for many. Now that the market seems to have stabilized (yes, I know there's concern about another bottom, this isn't a stock market thread), people might be spending on sports cars again.
 

·
Registered
Sold Elise SC
Joined
·
22 Posts
Discussion Starter #3
Yeah, I kind of figured most of those things have played a role. Reading the "what did you pay for your elise" thread, the best deals seem to trend in the fall months so I may have to hold off still and watch the summer months unfold.
 

·
Registered
07 Exige S
Joined
·
1,572 Posts
Historically seasonal. Of course we all ruminate about purchase decisions, and all the associated possible scenarios, If you think of a vehicle as a investment like a ice cream cone and not a future potential collectable, you will enjoy the ownership experience more. I have only learned this recently in my advance age...

I took my own advice when I bought, plus lots of gentle nudging from the LT community during my lurker chapter. Even if the economic sky fell, there are not going to be any more of these cars, the demand for them won't fall. So you are likely looking at a 5K swing. Find what you want, put your money on the table and get yours man. Peacb
 

·
Registered
Sold Elise SC
Joined
·
22 Posts
Discussion Starter #5
Yeah I definitely feel that advice. I was originally planning on waiting until 2021 to purchase but looks like no way that is happening now. Its just a couple weeks ago very nice nightfall blue sold for $47k on BaT and now everyone seems to think they can get $40k for the cars. Seems temporarily hyped is all, but I'm by no means an expert.
 

·
Registered
Joined
·
487 Posts
Yeah I definitely feel that advice. I was originally planning on waiting until 2021 to purchase but looks like no way that is happening now. Its just a couple weeks ago very nice nightfall blue sold for $47k on BaT and now everyone seems to think they can get $40k for the cars. Seems temporarily hyped is all, but I'm by no means an expert.
I think that was a high water, exceptional sale.... and I do think the trend will slowly be upward, but not at that extreme.

If I'm wrong, the new owner of my car just got a REALLY good deal on my Nightfall Elise! :D
 

·
Premium Member
2005 Elise LSS Saffron Yellow
Joined
·
809 Posts
I think that the Lotus market is probably less seasonal than more common cars: the pickier you are, the longer you're likely to be looking, which means you buy the car when it appears - whenever that is. In my case, I did buy my Lotus in summer, but was shopping for a car and then persuaded myself (and was surprised by the spouse saying) that I really wanted something as hardcore as an Elise.

That said, nobody wants to drive a fragile car with hard to find parts on salted/snowy/slushy roads. I know there are people who buy cars sight unseen and have them shipped; I'm not one of those people. Admittedly, that's only two months a year here, but it's a time window I wouldn't shop for an exotic in.
 

·
Registered
Joined
·
4,406 Posts
Yeah I definitely feel that advice. I was originally planning on waiting until 2021 to purchase but looks like no way that is happening now. Its just a couple weeks ago very nice nightfall blue sold for $47k on BaT and now everyone seems to think they can get $40k for the cars. Seems temporarily hyped is all, but I'm by no means an expert.
Yeah, BaT is known for bringing the crazies out for one-owner, low miles, low production cars. When those three coincide like with that car, it is far from a barometer of the market. There have been plenty others this year on there in the high 20s and low 30s. If you think someone is asking a stupid price for a car, there's no harm in (respectfully) showing them recent sales of a similar car to justify your offer. If they ignore the facts, you don't really lose anything.
 

·
Registered
Sold Elise SC
Joined
·
22 Posts
Discussion Starter #11
Thanks for all the replies. Ended up taking steelypip's advice. Exactly what I was looking for popped up and I jumped pretty quick. Mag Blue, supercharged, low mileage, in state, newer model year, check check check check and check! I'm a very happily new to the Lotus community. Lurker chapter closed!
 

·
Registered
Joined
·
487 Posts
Thanks for all the replies. Ended up taking steelypip's advice. Exactly what I was looking for popped up and I jumped pretty quick. Mag Blue, supercharged, low mileage, in state, newer model year, check check check check and check! I'm a very happily new to the Lotus community. Lurker chapter closed!
Post a picture! (Although assume it's your avatar now .. :) )
 

·
Registered
2005 Lotus Elise Nightfall Blue
Joined
·
45 Posts
Nice! I just joined the "lotus owner" club four days ago, myself. I did a hell of a lot of market research on these cars before I bought one, and this is my $0.02:
(Note: everything I'm about to say is particular to a "stock" 2005 Elise. Every other model doesn't sell in high enough volume to be able to do good data analysis, at least not easily. I controlled for Mileage and general "condition" - again, mostly stock or very few mods)

1: The market is seasonal, but actual sale price only seems to fluctuate up or down $500. Up to you whether or not that's worth waiting for. For me, it's not. Best time to buy is December. But, that's National. I didn't control for being in SoCal, which may have little or no seasonal effect. (I'm also in So Cal, but I was keeping my eyes open nationally)
2a: The nightfall blue elise that sold for $47k on BaT was a distinct outlier. Almost every other auction I could have predicted with a statistical data analysis software within $1,000 of the final sale price. That auction went for $12k MORE than my model predicted. You really just ended up with a bidding war, and two people who wanted that particular car, for wahtever reason, and could afford to bid it up. Simple as that.
2b: Funny story: About a week or two later, a guy posted a nightfall blue Elise for sale, single owner, 13k miles, I think asking only $37k, here on Lotus Talk (all of these facts should be public, so I don't think I'm outing any confidential information here). I reached out to him, but there was another "highly motivated buyer" who beat me to the punch. My money's on it being the guy who "lost" the BaT auction. He might be the real winner here ;)
3: Elise's only appreciate, on average, $50 per year over the last 3 years. Coronavirus has changed the market dramatically though, and since March I believe BaT has had record levels of traffic, bids, and final sale prices.
4: I'm the new owner of the car 6TVRs mentioned - Yet ANOTHER night fall blue elise, sold within the same month. By my data modeling, I might have paid a few grand over "market rate" but it also appears to be a very well cared for car with no major issues, and many of the common things have already been taken care of. In the end it's a wash, and I paid a fair price, even ignoring the $47k nightfall blue elise. If you think that's indicative of the market going up (I do not) then I got it for a good deal.
5: And last but not least: Congrats!!!
 
1 - 15 of 15 Posts
Top