woody wrote:Hi,
I have a brand new S2 Steering Rack, does anyone know the what the present value is ?
Cheers,
Woody
There is no 'standard' answer for something like this...... there are many variables.
For example:-
the last price listed by Lotus was £1484 + VAT - but they are no longer available.
when Lotus sold off their remaining stock in the 'aftersales' event back in 2009(?), they went for £100+VAT each - so that is what mine cost me..... it is also what others on here paid at the time, and there are possible only 2 left in original/unused condition (yours and mine!), unless anyone else has one on a shelf somewhere "just in case".
Adjusting the price for inflation over the past 15 years suggests that it owes me about £200-250ish - but does it really???
Any that were bought up by retailers will have been sold by now at whatever markup they felt was appropriate.
If a S/H one is listing for whatever they ask, and you add on the cost of reconning it (£400 on ebay, or £390 via Lotusbitz), then it gives you another number.....
I know that a set of seals can be got for under a hundred quid, but I have never done a PAS rack, so don't know what is involved in "getting it right" - maybe it needs specialist kit, tools and (certainly) knowledge......or maybe I could do it on the kitchen table with an adjustable spanner, a hammer and a bent spoon.
So, the value to me (for mine!) is the knowledge that, should I need one in the future, I have it ready to go.... I can then either rebuild, get reconned, or sell the old one for whatever price the market will bear (as Lotusbitz want a £200 surcharge for the 'core' return, it suggests that the value of a 'duff' one is still substantial).
Should I ever have no further need for it, I will have choices - it will probably become a problem for my kids to worry about whilst clearing the garage, in which case there will be bargains to be had for someone!!!!!
The only decision you need to make is whether it is worth more to you to keep it, than to sell it - if you want a 'value' then the only real way is to put it on an auction site and see what "the market" will give you for it - but I would be starting the listing at whatever I would take as a minimum (whether that be the hundred quid I paid, the 200 for a core unit, or the 1500 last list price), and see where it goes.
However, if you want the cash for something else, and just want to liquidate stuff quickly, then you may be open to offers.
All that said - realistically, anyone who wants one has 2 or 3 choices - recon their current one (£400 or £100 DIY), and get a unit which will probably outlast their ownership....... find and fit a S/H unit of unknown history - maybe good, maybe not much better that they started with....... find a Holy Grail OE unit which has been lovingly stored and pay whatever the owner is happy to accept..... and (hope) it will outlast the car
All of this only applies if the current unit is good enough to rebuild, and if not, that the parts can be got to make it worthwhile.... so, lets assume the knackered rack is worth £100, a s/h one can be got for £150, and a recon is going to cost £400..... that means you can sell your current one and buy a s/h one at a cost of fifty quid or so - but take a risk..... you can buy a recon one, pay the 'core' charge and keep a used-but-could-do-with-some-work one on the shelf for £590.... you could get your own one rebuilt and be back on the road for £400 with no further worries...... OR...... you buy the Holy Grail and do what you want with the old one (sell, recon, keep as-is) - but expect to pay for the privilege.
This is a very, very long-winded way of saying that I can't give you a number, BUT it would be well north of any other option out there, and maybe a starting price of double the recon price would seem fair, and see where the market takes it - or not...... after all, it isn't something that anyone NEEDS (when recon options are available), but if someone WANTS it, then it isn't going to be cheap.