Some do consider our economy is in the state of depression or at least at its bottom. Can anyone relate... I see NSX listings at their all time lowest and they aren't selling! Opinions?
Depression causing a drop in NSX resale prices.
- Thread starter nsxexotic
- Start date
I think its just the time of year. Most people put their cars up for sale towards the start of winter. Once spring comes around the prices will go back up.
I am not an economic expert here.
I feel that winter approaching has much to do with the slow down.
The other huge factor is the slump in the Real Estate industry through out the U.S with Sub prime market. Consumer confidence is not at all time high.
Hopefully next year the sun will shine again.
Cheers.
I feel that winter approaching has much to do with the slow down.
The other huge factor is the slump in the Real Estate industry through out the U.S with Sub prime market. Consumer confidence is not at all time high.
Hopefully next year the sun will shine again.
Cheers.
It's a buyer's market. Just like in real estate.:biggrin:
I agree with other posts, just like houses and boats, sports cars don't sell fast in the winter time. Its a cycle peaking in June-July and at the bottom between November-January.
I posted this statement back in Aug. 07
Unfortunately with the Economy and the Housing market is going way down, and people are holding t on to their money. There is no signs of it getting any better anytime soon. This is just the beginning of a downward turn. People are going to have to settle for less $$ in cars and housing if they want to sell it. In the general, $30K-$60K sports cars like these is a luxury. This is not a good time to sell anything. Also, loans are not easy to come by anymore. Judging by the economy, and all of the recent cars for sale on Prime NSX that aren't selling as fast, it's definitely a buyers market right now.
Currently on Prime there are quite a few cars for sale with very few "SOLD" replies on thread. Regardless, I still enjoy my Red NSX everyday.
Unfortunately with the Economy and the Housing market is going way down, and people are holding t on to their money. There is no signs of it getting any better anytime soon. This is just the beginning of a downward turn. People are going to have to settle for less $$ in cars and housing if they want to sell it. In the general, $30K-$60K sports cars like these is a luxury. This is not a good time to sell anything. Also, loans are not easy to come by anymore. Judging by the economy, and all of the recent cars for sale on Prime NSX that aren't selling as fast, it's definitely a buyers market right now.
Currently on Prime there are quite a few cars for sale with very few "SOLD" replies on thread. Regardless, I still enjoy my Red NSX everyday.
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On the other hand a '04 Silver w/9K sold in 4 days in Sept. '07 for just under $70K (Seattle Metro area) & a '05 Silver w/appprox 1700 miles went on E-bay in less than 7 days for right around $75K. The seller had it listed on Prime prior to e-bay and many told him the price was too high.....
We are no where NEAR the bottom of this market. We have a LONG way to go. Having said that the truly wealthy will ALWAYS have disposable income to buy things as a 3rd or 4th car. Pcar prices remain strong in the areas they have been, such as 993 variants.
Winter coming does not help for the average buyer. I dont mind getting into one (again) in the dead of winter.
Winter coming does not help for the average buyer. I dont mind getting into one (again) in the dead of winter.
Depression? LOL The only people not working are those that don't want to. Our biggest problem is finding people to hire. Some people need to wake up.
check out this nsx for sale, not that it sold but still holding its own.
http://honolulu.craigslist.org/oah/car/464352400.html
http://honolulu.craigslist.org/oah/car/464352400.html
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There hasn't been a depression since 1929. I think you're talking about a slowdown or recession in one component of the larger economy. There's also a fair amount of negative hype out there.
The economy may be depressed, but when I am driving my NSX I am anything but depressed.
This is a bad time of year to get good prices for cars but that doesn't mean that the nice cars are going so cheap. Try looking for a good car and see if you can get a deal, that's the true test. I think the best cars go up for sale in the Spring-Summer, most owners know that's the best time to sell.
I haven't seen any reduction in prices whatsoever. If anything, market values for well-kept older NSXs seem to be either stable or appreciating slightly.
Greetings
I bought mine a few weeks ago. I started looking for one in February. The number available in the US and Canada was about 140 -- guy at work ran a tool to find all on the web and dedupe the listings. There were almost 50% more in October when I bought mine. This was true for all other luxury cars too.
Martin
I bought mine a few weeks ago. I started looking for one in February. The number available in the US and Canada was about 140 -- guy at work ran a tool to find all on the web and dedupe the listings. There were almost 50% more in October when I bought mine. This was true for all other luxury cars too.
Martin
Just my two cents, since I have done my time in retail. Sales of big ticket items (homes / cars / planes / boats) tend to slow down in the winter time, partly because of the weather (who wants to shop or sell a house or car in the rain or snow), and the holiday season (people more concerned about gifts for themselves, friends, and relatives). That being said, the numbers should tick back up in the spring time.
Connections to a slow economy may or may not be valid and may influence the amount of the slowdown, but regardless, there is always a slowdown on big ticket items during the winter months.
Connections to a slow economy may or may not be valid and may influence the amount of the slowdown, but regardless, there is always a slowdown on big ticket items during the winter months.
Will the tool work for other makes/models? Can I get a copy for NSX and/or other cars?
Thats a VERY broad statement. ALL other luxury cars?
Greetings
Answer 1
I compared total numbers of listings of Ferrari's, Lamborghini's, some BMW's, and some MB models that I was also interested in purchasing before buying my 2003. I also routinely browse the DuPont registry. That was what I was basing my numbers on.
Answer 2
I don't have access to whatever was written to track and locate cars. Some of the web sites emailed to me were the following:
http://www.dupontregistry.com/
http://www.motortrend.com/used_cars/11/acura/nsx/
http://www.autoextra.com/search/vehicle
http://www.vast.com/cars/used-for-sale-Acura.NSX
http://autos.msn.com/classifieds/li...r=&make=&model=&type=both&LNX=MSNATUSEDRESRCH
http://www.carsforsale.com/Find_A_V...ke=Acura&Model=NSX&FromYear=-1&ToYear=-1&Zip=
You can probably do a pretty good search looking at these. Some of them save the search information, so that you can click a link and see.
Cheers,
Martin
Answer 1
I compared total numbers of listings of Ferrari's, Lamborghini's, some BMW's, and some MB models that I was also interested in purchasing before buying my 2003. I also routinely browse the DuPont registry. That was what I was basing my numbers on.
Answer 2
I don't have access to whatever was written to track and locate cars. Some of the web sites emailed to me were the following:
http://www.dupontregistry.com/
http://www.motortrend.com/used_cars/11/acura/nsx/
http://www.autoextra.com/search/vehicle
http://www.vast.com/cars/used-for-sale-Acura.NSX
http://autos.msn.com/classifieds/li...r=&make=&model=&type=both&LNX=MSNATUSEDRESRCH
http://www.carsforsale.com/Find_A_V...ke=Acura&Model=NSX&FromYear=-1&ToYear=-1&Zip=
You can probably do a pretty good search looking at these. Some of them save the search information, so that you can click a link and see.
Cheers,
Martin
Yup. Also, outside of the Sunbelt, some of these items, particularly boats and high-end sports cars, tend to get stored, rather than used, during the winter months.
My opinion on this is that with the real estate shake up we're going through right now, there will be less and less 'qualified' buyers for these expensive toys. Current owners may be 'forced' to let go some of their exisiting toys which would create supply > demand situation. I'm pretty sure there are quite a few people out there using the equity they built from the real estate they owned to enjoy these luxury items such as sports cars, high-end watches, luxury vacations, etc. Also, when we talk about older model year NSXs where the current market price is way higher than blue book value thus making the transaction be cash buy only and many cash buyers tap into their real estate equity for it. Just my 2 cents worth...
You're not really trying to prove a point using the Kelley blue book value whose derivation methods are entirely fallacious for low-volume cars, are you?
