Emira Market Watch, for discussion and to help those searching!

[Bibs]

• The winning bid was: £84,500.
• There were 27,105 views.
• This auction had 42 bids.

[TomE]

So the buyer is paying about £90k with the fees and the seller is getting about £3k over their on the road price.  This outcome and the £105k advertised cars not selling give a fairly clear indication this car isn't going to make a lot of money for speculators.  I expect that'll mean a batch of cancellations tomorrow.

[exeterjeep]

2 minutes ago, TomE said:

the seller is getting about £3k over their on the road price

and if they had to borrow the funds to pay for it initially, would have reduced their profit.

[jep]

Collecting Cars prices are generally soft. 

[TomE]

I believe the seller had a change in personal circumstances, so is probably just relieved it sold for above what they paid.

[scotty435]

Yes true. A expensive personal change in circumstances that a lot of married men have had to go through rightly or wrongly. 

[Emiralust]

So it sold for £90k in reality with the 6% fee? The guy who bought it is paying £90k then. It was never going to be £105k. Given the long wait time now it's made me feel more comfortable about my big purchase. 😀

[Bibs]

I think their fee is min £600, max £6,000 or similar.

[scotty435]

31 minutes ago, scotty435 said:

Yes true. A expensive personal change in circumstances that a lot of married men have had to go through rightly or wrongly. Happy he as made a small profit he going to need it. Been there my self it don’t come cheap.

 

[Wake]

1 hour ago, Emiralust said:

So it sold for £90k in reality with the 6% fee? The guy who bought it is paying £90k then. It was never going to be £105k. Given the long wait time now it's made me feel more comfortable about my big purchase. 😀

It’s made me less comfortable. I would never be intending on flipping. But if I could get out of the car at the 6/9/12 month point at relatively no cost after “scratching” that itch then I’m all for it. It’s a tad concerning that the first one to market with a waitlist stretching into 2024 only went around 8k over list price. 

[MJON]

See two up on Autotrader, one private at £105k but not actually with the seller yet 😏

The other is with Premier GT, priced slightly higher (link below) guessing both looking to clear £100k. If they can achieve this it will make the £90k (inc premium) sale via Collecting Cars a bargain.
https://www.autotrader.co.uk/car-details/202212052292613?advertising-location=at_cars&atmobcid=soc5&include-delivery-option=on&make=Lotus&model=Emira&onesearchad=New&onesearchad=Nearly%20New&onesearchad=Used&radius=1501&sort=relevance

[Emiralust]

10 hours ago, Wake said:

It’s made me less comfortable. I would never be intending on flipping. But if I could get out of the car at the 6/9/12 month point at relatively no cost after “scratching” that itch then I’m all for it. It’s a tad concerning that the first one to market with a waitlist stretching into 2024 only went around 8k over list price. 

Sports cars are always cheaper in December anyway, and as others have said collecting cars prices are soft.

Everyone is allowed their opinions but the pessimism on forums is tiring, bit of positivity surrounding this toy wouldn’t go a miss. At the end of the day it’s not a low volume car and Harry’s video at the weekend showed a very busy factory with lots of the same car on the line which doesn’t provide that feeling of exclusivity early buyers might want. The car market is softening not the Emira specifically. If people are worried about the financial implications of buying the car now or it’s overs prices going forward you might find that the Emira was actually the best of a bad situation.

[simonb]

TBH going just over list is perfect

Will move the speculators out of the queue, and will give buyers assurance that buying blind and not getting on with the car has a get out that wont hurt the wallet

[duncx]

I agree, c£10K over list is perfect and frankly quite encouraging considering the time of year and the state of the economy etc.

Looking ahead a bit, there is no way that Lotus will be able to keep the new car prices as they are now. If waiting lists stay healthy and inflation stays high then some chunky rises are on the way, which will of course bolster the s/h market.

Looking longer term, what was the list price of a LE Evora - £50K? A decent example will still fetch high £20s, so that's less than £2K per year depreciation. An absolute bargain for a car like this 👍

And even longer term, there's the petrolheads' problem looming of 'can't buy a new ICE car anymore' - who knows what that's going to do?

Oh sod it, just buy one and enjoy it while we can 😄

Edited December 7, 2022 by duncx

[jimichanga]

Funny watching people here desperate to talk prices up whereas over on the Exige market watch they are trying to talk them down! It’s definitely the Exige that’s really ‘for the drivers’. Sure who doesn’t like a sports car without the depreciation but Emira owners seem more preoccupied with ‘turning heads’ and financial performance, Exige owners are more into turning corners and straight line performance! 😎

Edited December 7, 2022 by jimichanga

[mcdonaa]

33 minutes ago, duncx said:

Looking longer term, what was the list price of a LE Evora - £50K? A decent example will still fetch high £20s, so that's less than £2K per year depreciation. An absolute bargain for a car like this 

It's a good point you make...inflation won't let Lotus keep them at £75ish K list...that one on CC may end up being cheaper than they are in 12 months.

Using an online inflation calculator, the £50k (without some options such as paint/wheels etc) of the LE Evora....the 2009 price would be nearly £73k today....not far off the Emira list price now.

https://www.bankofengland.co.uk/monetary-policy/inflation/inflation-calculator

 

Edited December 7, 2022 by mcdonaa

[Beady]

1 hour ago, duncx said:

what was the list price of a LE Evora - £50K?

the LE was £60k (i bought one) 

[mcdonaa]

Thats 87.5K in today's money!

[LotusLeftLotusRight]

Or nigh on £100K after another 12 months’ inflation! 😃

[MJON]

Third Emira now up on Autotrader and again another car dealer. This one’s priced more conservatively than the two previous. £99,995, a bargain 🙄

https://www.autotrader.co.uk/car-details/202212062315824?advertising-location=at_cars&atmobcid=soc5&include-delivery-option=on&make=Lotus&model=Emira&onesearchad=New&onesearchad=Nearly%20New&onesearchad=Used&percentVehiclePriceDeposit=true&radius=1501&sort=relevance

[exeterjeep]

Another one seems to have been added today..£104991 yellow

https://www.autotrader.co.uk/car-details/202212102424691

 

[MJON]

And another In Nimbus with Cameron Sportscars. Looks like several trade speculators were in early, not really surprising and can see again that they don’t actually have the car yet. Be more interesting to see them being sold, plus or minus £100k? Would have thought early mid £90’s a respectable result.

https://www.pistonheads.com/buy/listing/14296820

[philnotts]

18 hours ago, exeterjeep said:

Another one seems to have been added today..£104991 yellow

https://www.autotrader.co.uk/car-details/202212102424691

 

Apparently this is the collecting cars auction Emira. 

[LotusLeftLotusRight]

Already looking for its third owner after only 12 miles? Must be something wrong with it.

[Rambo]

Maybe needs a new clutch 😉