by dapinky » Sun 07.06.2015, 10:46
Whilst Elan prices have definately 'bottomed out' over the last year or two (and appear to be slightly rising), there is still the "Seasonal" price difference - a soft top will always command a higher price in the Spring/Summer than in the depth of Winter.
People who currently own them will want to get another Summers use before letting it go, and so there are less private sales around, and dealers try to capitalize on that by (perhaps) inflating prices of the ones they have in stock.
Add that to the fact that over the last 5 years or so, with the bottom end of the market dropping, many 'poor' cars have been broken for spares instead of being sold complete (more cash for the seller) and this just adds to the misery of potential purchasers as there are less of them on the road.
Good cars at a good (fair?) price do come up from time to time, but they don't hang around too long. I have noticed a fair few sell within days of going on sale (or not even getting to the advertising stage).
Whilst the price/value is in it's current place i see that trend continuing - an Elan is often (but not always) a second car, and their prices are not ridiculous for a 'toy', so also appeal to the impulse purchaser as well as the afficionado.
As scarcity increases, and cars are improved by their owners, values will rise and many of us have no intention of ever getting rid of our cars - whatever the money - as so much time and effort has been expended that they wouldn't be replacible.
In a few years' time it will change again, with some people wanting/needing to release the cash equity which they have gained in their cars, and by that time there will be less buyers as they will cost too much for an impulse purchase, and the market will have a higher number of more expensive cars advertised!
There are still 'project' cars, 'cheap' cars and 'value' cars out there - but the trick is getting to it before someone else does....
....the biggest issue seems to be where a prospective purchaser 'wants' something specific as will not deviate. I'm not saying that is a bad thing - but it does limit your options.
There are just not enough low mileage S2 NMY cars for sale within 30 miles of everyones' house.
For me (and maybe I'm the one out of step), colour is well down the list of 'needs' on a second-hand car - it's all about condition. If you really want an S2, then fine, they are a tad different from an SE, and a tad newer - but not really enough to warrant a huge price/desirability issue (i do like the wheels though - but not at the silly money which some people seem prepared to pay for them).
Most of the earlier cars have already had their wishbones replaced with new ones, so that isn't so much of an issue either.
A mechanically good SE (or S2 in the 'wrong' colour) is a better bet than a re-sprayed 'dog' which looks shiney but needs lots of work {unless you only go short distances and then polish it - each to their own}.
When you can get a car re-painted for less than the price of a 'B+C' service, some sellers would rather try to hide what they are selling behind the shine.
However, for the price of that service, plus a set of shock absorbers, tyres, hood seals and brake overhaul/upgrade you can get a good re-spray (with colour change).....
.... all of a sudden that 'tatty' looking Elan in the 'horrible' colour but with FSH and well maintained, can look like a sensible purchase. (but only for those in it for the longer haul - not the 'use it for a couple of months and move it on' speculator).
Dave
Just the one now, but this one's mine! - and it will be finished eventually..... - but also temporary custodian of a project until it is finished enough for Angie to drive it
...oh, and a 2006 Freelander destined for the jungles of The Gambia - 4500 miles across roads, desert and tracks - what could possibly go wrong?
