A builder who was at Mr Spier's clifftop home when the accident happened said Troy was playing hide-and-seek with relatives at the time.
He went missing during the game, and when Mr Spiers opened the lift to look for him he found him unresponsive with serious head injuries at about 1pm.
Despite frantic efforts by the builder and then emergency services, Troy could not be revived.
Troy is the son of Mike Spiers, of Oamaru, and Melanie Watson, and has an older sister, Aleisha.
Troy had just finished Year 6 at Pembroke School in Oamaru and was planning to go to Oamaru Intermediate School next year.
Pembroke School principal Brent Godfrey said Troy was a really nice boy who loved competition.
"He would put 150 per cent into everything. He was sporty and had a lot of friends. He was a never-give-up type of kid who would give anything a go."
Mr Godfrey said Troy was considerate beyond his years.
"He was quite a deep thinker. He would come and have chats with me every now and then when things were worrying him. We'd talk through his worries, work them out and then he'd be on his way again."
The family had moved a few times around Oamaru but had kept Troy at Pembroke School. Troy's sister had also been a top pupil there."I got to see both the kids grow up," Mr Godfrey said.
"They're both great kids. The teachers were devastated yesterday when I told them about Troy.
"Troy was in Pembroke's top touch rugby team which won the inter-school competition a couple of weeks ago. He also loved getting involved in the school drama productions. His dad often came to school events, Mr Godfrey said.
"Troy is certainly going to be missed. We, as a school, want to do whatever we can to support the family now."
Mr Godfrey had been contacting pupils' families and hoped the school might be able to hold a service for Troy.
Dennis Spiers' sprawling house has three levels, and the lift is a 1.5m by 1m platform that moves between each, with a doorway and window on each level.
The doorway and window - a small glass panel - are on opposite sides of the lift.
The builder described the frantic efforts to try and revive Troy.
"He would have been in the lift a little while before we got to him, the poor little guy.
"We spent about 30 minutes trying to revive him before the fire brigade arrived and then they took over. I was working on him for a while and I thought I had him.
"They worked on him for a good two hours trying to get him back."
He said the accident was "shocking" and he could not stop thinking about what had occurred.
The Manly Fire Station in Whangaparaoa attended the incident and St John also rushed to the scene, but said the boy was deceased when paramedics arrived.
The Auckland Westpac Rescue Helicopter was also notified, but stood down soon after.
Troy's death was referred to the coroner.