Lotus Elan

Artificial Price Inflation

PostPost by: danielmo » Thu Feb 22, 2018 3:53 pm

I try to keep tabs on the Elan and Europa market by scouring the ads daily.

I have noticed that many recent car ads are easily twice what the normal asking price is for both the Elan and Europa. Maybe this can be filed under conspiracy theory, but it seems to me that the ad-listers are trying to artificially inflate the price of our cars. Opinions?

-Dan
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PostPost by: theelanman » Thu Feb 22, 2018 3:59 pm

sell....... :lol:
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PostPost by: 65sunbeam » Thu Feb 22, 2018 4:32 pm

Lots of those adverts are from dealers/brokers so that is most of the problem. When a private owner wants to list his car for sale, he prices it in line with those cars for sale....I would do the same!
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PostPost by: JimE » Thu Feb 22, 2018 6:01 pm

Both Paul Matty and UK Sportscars advertise at prices in the high range. The former tends to shift cars quicker than the latter but whether that's because he compromises on price or he has better quality cars we'll never know.
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PostPost by: Fred Talmadge » Thu Feb 22, 2018 6:42 pm

I think this is a common practice of selling classic cars. Sellers want more money than buyers are willing to part with. Just be glad you are not looking to buy a Porsche.
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PostPost by: vincereynard » Thu Feb 22, 2018 7:55 pm

JimE wrote:Both Paul Matty and UK Sportscars advertise at prices in the high range. The former tends to shift cars quicker than the latter but whether that's because he compromises on price or he has better quality cars we'll never know.


Having been to both, I think I know!
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PostPost by: HAIRY » Thu Feb 22, 2018 9:01 pm

I have recently completed a nut and bolt rebuild of my 1970 S4 and am now in the middle of the rebuild of my 1969 S4. As a consequence, I am surprised how low the asking prices are for comparable cars given the cost of spares and my free labour.
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PostPost by: mbell » Thu Feb 22, 2018 9:06 pm

Seem to happen over here too:
https://www.hemmings.com/classifieds/de ... 74926.html

I mean it a nice car but that's 50% higher than any other +2 I've seen for sale here and not selling a compelling reason....
'73 +2 130/5 RHD, now on the road and very slowly rolling though a "restoration"
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PostPost by: mark030358 » Thu Feb 22, 2018 9:44 pm

My 2p worth...
If you want a "minter", one owner, blah blah, its going to cost a lot.
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PostPost by: danielmo » Thu Feb 22, 2018 9:50 pm

theelanman wrote:sell....... :lol:


Yes, if they were getting asking price, I'd be all over it. They can ask all day, whether they get it or not is another thing.
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PostPost by: mrob » Thu Feb 22, 2018 10:28 pm

Michael Robertson
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PostPost by: prezoom » Fri Feb 23, 2018 2:21 am

I spent a week in Phoenix going to all but one of the auctions a few weeks ago. There was one particular car that sold for price that was below what I thought it should bring, based upon sales of other like vehicles. Today it is being offered on eBay for near double the sale price at the auction. Another dealer boosting prices. What if found was interesting, was the pictures on eBay appear to be photoshopped to enhance the color a detail. I spent some time going over the vehicle prior to it being presented for auction. A tear in the drivers seat was no longer visible, and the blemish in the paint was omitted in the photos posted on eBay. If it sells for near the buy it now price, it won't break my heart, as a rising tide lifts all ships.
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PostPost by: Frogelan » Fri Feb 23, 2018 6:48 am

Hi Daniel

Lotus Elan prices seem understandable (for open cars), but Europas and Elan +2 prices do seem overlooked given the prices of spares, cost of restoration etc.

Looking at Porsche's, 911s are over priced everywhere (personally I would take a 944 over a 911 anyday) but this simply underlines supply and demand.

I keep an eye on "bring a trailer" and it is interesting to see the mispricing. The current boom seems to be for BMW "M" cars (which here in France as seen as cars for bad boys involved in "go fast" drug runs from Southern Spain...) but are popular with probably younger owners, born in the Eighties.

Where does the supply and demand come from? This brings us onto evolving tastes, notably from demography, product placement, image, ease of use and repair etc.
1965 Lotus Elan S2 26/4022 (originally Dutchess Lotus East, PA and NJ Area, USA)
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PostPost by: gjz30075 » Fri Feb 23, 2018 9:57 am

mbell wrote:Seem to happen over here too:
https://www.hemmings.com/classifieds/de ... 74926.html

I mean it a nice car but that's 50% higher than any other +2 I've seen for sale here and not selling a compelling reason....


This car went for $37,400 at Gooding, so I'm sure there's some 'wiggle room' here.
https://www.goodingco.com/vehicle/1973- ... an-2s-130/
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PostPost by: 512BB » Fri Feb 23, 2018 10:50 am

'This car went for $37,400 at Gooding, so I'm sure there's some 'wiggle room' here.
https://www.goodingco.com/vehicle/1973- ... an-2s-130/'

And just look what the reserve was on this car, 50 - 70k dollars.....................ridiculous !

There are several dealers in the UK that are complete chancers, re asking prices. One in Kent has a red Sprint. Started off asking £56k, now dropped to £49k. As discussed elsewhere, Sprint in Lancashire, asking £55k. Horrible dashboard, horrible wheels, daft aerial location, and thats for starters. Just waiting for a mug to turn up. Hopefully they will not.

Prospective Elan buyers, seek advise / help here first BEFORE making a purchase. More so if the car is big bucks.

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