Much has been written about our cars, and it continues as they approach their 18th year. Many were sold to appreciative buyers who, having experienced the 90’s, wanted a small slice of motoringt enigma on their driveway. Who on earth wouldn’t appreciate the motorsport look of a lithe, lightweight Lotus coupe, that for all intents and purposes looked stunning and very purposeful. Despite all that, Lotus struggled to move the last cars on, reducing their price by around 10%, but I’d appreciated confirmation of WHEN sales got tough (i.e. how MANY had sold before sales tailed off?).
Values for our cars have fluctuated from their purchase price of around £34,000, to a huge fall to around £14,000 in 2004/5, coming up to £32,000 in January 2017, to advertised prices of £62,000 in July 2017 (currently). Some have said (Lotus owners specifically) that “They won’t ever realistically sell for more than their purchase price when new”, but as inflation moves on and therefore the value of £1000 diminishes with the passing of the years, £34,000 was more in 2000 than it is now in 2017. Equally, an early (relatively humdrum) RS Escort is magnificently more valuable than its VERY humble origins, most likely due to supply, demand, nostalgia and buying capacity.
Some of you will be aware that I took advantage of the market earlier this year, when I advertised my car (No.077) for sale, asking £39,500. Despite the naysayers on SELOC saying it was overvalued, you’re dreaming, at least the wife knows you’ve put it on the market etc, I had 2 genuinely interested parties. There were NO other S1 Exiges for sale in the World at the time. Had I not withdrawn the car from sale, I realistically could have achieved £38,000 for my car. I withdrew because my wife reminded me of how much I enjoyed spending time in the garage looking at, or after, my Exige.
As part of the naysayers comments about my car, they said it had had too many owners, had done too many miles, had a sketchy service history and was the wrong colour. As part of my healing process, and having learned more from other S1 Exige owners at last weekends Midlands Lotus Owners Club (MLOC) Lotus in The Peak (LiTP) event, I’d really be intrigued to know more details about your cars. This is mostly about recording the information for this particular moment in time, but more to do with how those factors affect subsequent value and sale price. I don’t thing there are many cars (of ANY manufacturer) out there with one owner from new, a full manufacturer service history, and more importantly, is that actually relevant? Going high end for a while, would Ford GT40 owners knock a car that had been hiding in a barn for 50 years, given that it didn’t have FSH? I think not!
So, just so we can have a snapshot in time, would you be able to share information with the rest of us? Specifically I’m asking for Chassis Number, Mileage, Number of owners and when you bought your car. This information will be very interesting to look back upon in years to come and how values are reflected, so lets get this information out there. I’ll start:
Chassis Number: 077
Mileage: 43,000
Owners: 7
Bought: 2011
Thanks for your participation, and please go easy on my slurred ramblings.
Cheers,
Kurt
