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Do enthusiasts overprice their cars???


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The Porsche 996 is now a distant memory, and the daily runner Lexus IS200 is in sight.

This still leaves the remainder of my budget designated for the Esprit. It's encouraging that there aren't that many post-98 ones for sale. However, I WANT ONE, AND I WANT IT NOW :(

My Budget:

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parkers guide is TOTAL bollocks when it comes to esprits, even insurers have told me this, a good gt3 would be

OUR CURRENT COLLECITON :- MODIFIED LOTUS ESPRIT, FULL VEILSIDE SUPRA (BEAST 409.3bhp), NEW ADDITON TO THE TROOP, 1996 S CLASS MERC (FULLY PIMPED OUT, DUB EDITION)

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I don't think cars are overpriced by their owners, they are worth what someone (not neccessarily you!) is willing to pay. The trick with exotic and rare cars is that the prices can be very disparate, as can the cars condition.

I'd rather buy a pristine V8 for

88 Esprit NA, 89 Esprit Turbo SE, Evora, Evora S, Evora IPS, Evora S IPS, Evora S IPS SR, Evora 400, Elise S1, Elise S1 111s, Evora GT410 Sport

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MC,

I think your probably putting yourself in a really bad position. Esprits as you are aware are very rare and good ones even more so. Im sure you will find a GT3 or V8 for that sort of money and fairly soon but if you do bag one of the first ones you see, I hope you've got a healthy contingency fund to sort out any issue. There are many people on here who waited a long time to find the right car in the end this paid off. There are others on here to that bought fairly quickly and spent a substanital amount of money get the cars running right (Me included :( ).

If I was buying now knowing what I know and being involved in the Forum I'd be sitting tight, cash ready to jump on a cracker which the forum knows. If you are able to wait and buy a car from some one on here then you have a very good chance the car will be in good condition and been well looked after.

Good luck in your search, I hope you do get lucky and make the right purchase.

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No disrespect intended toward anyone, but..........

We have the same problem in the US. People get unrealisic ideas about how cheaply they can buy an Esprit by looking at the national valuation guides. Then potential buyers get mad at us for not defering to the figures in the price guides. Why don't they get mad at the people who write the price guides for consistently undervaluing the cars?

It seriously damages resale and personally I think it creates a situtaion where owners become less willing to maintain them properly. Owners may wonder why they should "dump" large sums of cash into a car if its value is perceived to be low. Very bad indeed, since Esprits react very favorably to proper maintenance and can quickly become basket cases when the penny pinching begins. In a sense, this lends serious weight to the argument that you should always buy the most expensive Esprit (best condition, best maintained) that you can find, NOT the cheapest one!

I recently sold an antique car that was in extraordinary condition (total ground-up restoration) and I had people offering me 1/3 of what I was asking. They'd hold up the NADA Valuation Guide and tell me, "The people who write this book say the car is worth this much...." I'd just smile and say, "Well then let them sell you one." In case you're wondering, I did get my asking price.

Tom Beggan

87 HCi

New Hampshire USA

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Yep. Keep looking at parkers all you want, and complaining they are too expensive. However unlike mondeos it is finding one that is the problem. Then you suddenly start realising that when you find the "good" one that you were looking for the person wants more than Parkers say it is worth. You are free to walk away, but believe me when you have found the one that you want then that is hard.

For low demand, but even lower numbers, market forces determine the price not parkers. Parkers just stop some people buying the good ones.

As Kato says, happens on main stream cars as well. Try getting a "good" BMW M3 for parkers price, or for that matter a 330D. Can't be done, and if it can you had better watch your wallet.

Phil B

PS Your other problem is that now it is only enthusiasts that own esprits and so you have this terrible problem finding one that is owned by a non enthusiast that will just follow Parkers blindly.

PPS there are a couple for sale nationally that fall into your catagory on autotrader, but are

Edited by Phil_B
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The  Porsche 996 is now a distant memory, and the daily runner Lexus IS200 is in sight.

This still leaves the remainder of my budget designated for the Esprit. It's encouraging that there aren't that many post-98 ones for sale. However, I WANT ONE, AND I WANT IT NOW  :(

My Budget:

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Enthusiasts sell more expensive cars because they know their car is the good one.

There is an old cliche (trueism) that we wheel out all the time here "There's nothing more expensive than a cheap Esprit"

Parkers is known as nonsense.

I would not touch a GT3 for

"When I was a kid I used to pray every night for a new bicycle. Then I realised that the Lord doesn't work that way so I stole one and asked him to forgive me."

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One word - Market Value.

As for overpricing, some do - some dont, depends on how they feel about their car and to an extent how honest they are.

The Esprit in general is so rare (105 GT3s in the UK ?!) that a price guide simply cannot cater for it. People will pay what they feel comfortable with, the right car comes up so in-frequently squibbling over a few hundred quid isn't the best best - buy the car and enjoy it, yes I only learned that last year as well which is why I paid over the odds for my car which needed a lot of work on it, but it was summer and the car was right...that extra I paid earned itself back very quickly.

When I look at a car the price wouldn't indicate anything to me initially without looking at it. Perfect example was mine. Marked up by a specialist who assured me it was a good car (which it clearly wasn't) wanted

Edited by Jonathan

facebook = jon.himself@hotmail.co.uk

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I think South West Lotus still have Tony's old GT3... It ought to be a good car (he was no twat and no miser) but you would need to be able to live with that colour! The mere fact they still have it after all this tiem, says that most potential buyers can't live with it! While that would get you a cheaper car, it also means any re-sale will be at a poorer value and/or more difficult :lol:

Also... it has been there SO long now that I would start to feel concerned about it not having been driven properly / regularly for over a year! Get them to B/C service it as part of the deal and offer some kind of warranty and then it' a definite maybe! :( lol

"When I was a kid I used to pray every night for a new bicycle. Then I realised that the Lord doesn't work that way so I stole one and asked him to forgive me."

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Price is a funny thing and while generally it may well be someones perspective of what they value the car that they price it at. I feel the true bargain will only come around when someone needs to sell.

Mine for example is up for 8.2k which i actually think is a bargain for my car which has had now had almost your budget spent on it!!

Yet i still get people asking if i will accept 7k which as a do not need to sell i will not however this time last year when my job was on the line i would have happily accepted 6.5!

So bargains will come up if the circumstances are right but you have to be prepared to sit there for what maybe a year or more and drop everything when one comes up.

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Jason - IMHO That looks like its at the upper end of 'about right' - for a GOOD car in the nick yours is in, a genuine, serious buyer after an S4s would pay it.

Glyn makes a good point - as Jon and Paul can testify they both looked for about 6 months iirc and had to move at the drop of a hat in order to get the 'right' car.

Really good ones can easily sell within a half an hour of being advertised!

What I don't think any of us can emphasise enough is the magnitude of the difference (and consequences) between a good example and a bad one!

Underestimate this advice at your peril! :(

Another rule of thumb we always wheel out is no matter what you pay for your car - even a very good one, keep about

"When I was a kid I used to pray every night for a new bicycle. Then I realised that the Lord doesn't work that way so I stole one and asked him to forgive me."

------------------------------

ribbon200.gifG-Car Owner and Proud! ribbon200.gif

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Glyn makes a good point - as Jon and Paul can testify they both looked for about 6 months iirc and had to move at the drop of a hat in order to get the 'right' car.

Tis true that :lol:

The bad examples look great until someone that knows looks at them,

by that i don't mean an Esprit owner looking at it for you (although this

will help a LOT), but get a specialist to look. This action saved me buying

one SE that had about

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Is this car still for sale? It was being sold by nick warren, but is ex-bernard grenville-jones. He's a mate of me and Dermot - i've known him and the car for several years - its had a rebuild and lots of

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So guys just to chuck more into the melting pot, is mine overpriced????

<{POST_SNAPBACK}>

As I say most of these models are individual and hence very very rare.

They pretty much have to be assessed on a case by case basis.

An otherwise identical V8 with the liners done is clearly worth more than a V8 without....but to anyone not knowing that the good car might be marked up less than a more expensive one....hence when buying a car so individualistic the car MUST be assessed by its merrits not the market price.

Jason you're asking a fair price, people who know the car would agree but someone who knows jack about it might disagree and buy elsewhere.

Your target for that price then is someone who knows their Esprits and wants to go for an S4s...not necessarily newcomers.

End of the day no-one can tell whats going to happen unless they have stollen my crystal ball and magic wand I keep at work (so funny...well, you have to see it to appreciate it :( ) you might fork out top dolla for a 'good' car only to have the clutch konk out on you 50 miles down the road.

facebook = jon.himself@hotmail.co.uk

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I was privately offered $14,000 for my red S1 'as-is' a couple of months ago. This is a little above average for a good S1 in the States. I told him I would not sell the red car until the white one is done; maybe then I would think about it. :(

Edited by Tony K

Tony K. :)

 

Esprit S1s #355H & 454H

Esprit S2.2  #324J

1991 Esprit SE

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Is this car still for sale?  It was being sold by nick warren, but is ex-bernard grenville-jones.  He's a mate of me and Dermot - i've known him and the car for several years - its had a rebuild and lots of
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This is the one I was referring to. 1999 V8 GT, with engine rebuild, sold last week (just before I had cleared funds) for less than

1996 Esprit V8, 1998 Esprit V8 GT, 1999 Esprit S350 #002 (Esprit GT1 replica project), 1996 Esprit V8 GT1 (chassis 114-001), 1992 Lotus Omega (927E), 1999 Esprit V8SE, 1999 Esprit S350 #032, 1995 Esprit S4s, 1999 Esprit V8 GT (ex-5th Gear project), 1999 Esprit V8SE ('02 rear)

1999 S350 #002 Esprit GT1 replica

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Nick Warrens V8-GT is not sold. I had an email from him this morning that it is still availble:

Nick Warrens V8 on Pistonheads

This car is an absolute bargain imo.

Regards,

Mike S

<{POST_SNAPBACK}>

Presumably when the engine is rebuilt, you would get the liners sorted... Are there any other issues that you would look for / expect on an early V8?

My current thoughts had always steered me away from thinking about V8's because of worries about reliablitly in comparison to the established engines of the S4s and GT3. Am I being over paranoid there? :(

... To be honest, I am getting that keen for a Esprit, I am loosing a lot of my pickiness on models / colors etc. :lol:

Ben

Lemoncurd

factory.jpg

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I think the others have summed it up for you about prices of Gt3 and V8. My advise is I think they've hit rock bottom. Prices will start to creep back up again at least for the summer period.

There is a black GT3 with black wheels for

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......  A sorted V8 is going to cost you early

1996 Esprit V8, 1998 Esprit V8 GT, 1999 Esprit S350 #002 (Esprit GT1 replica project), 1996 Esprit V8 GT1 (chassis 114-001), 1992 Lotus Omega (927E), 1999 Esprit V8SE, 1999 Esprit S350 #032, 1995 Esprit S4s, 1999 Esprit V8 GT (ex-5th Gear project), 1999 Esprit V8SE ('02 rear)

1999 S350 #002 Esprit GT1 replica

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Hi,

Still for sale the buyer has left a deposit but have not heard from him since i requested cash or bankers draft during banking hours...i guess he was trying something on.

Anyway brand new mot last friday, advisories were front brake pads worn, its running track days EBC and they warm up too slow for road driving so a change to a road compoud good idea anyway, the front anti roll bar bushes are worn, it has brand new Quicksivers sports pipes fitted, wear on drivers seat bolster, other than that is great car, got to be worth my

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