Ebay prices for the NSX

[hlweyl]

Has anyone been keeping track of what the NSX has been selling for on ebay? I've been following it for a couple of days and it doesn't look real good. A low mileage 99 only bid up to $35,000 and never met the reserve.

It's really hard to gauge the market on only a few auctions and other things are happening behind the scenes as well. What I mean by that is that potential buyers usually email the seller with questions that stay mostly private, so the bidders could have been getting bad responses from the seller.... I don't really know. The seller could have been disclosing his reserve and could have been so high that potential buyers decided to look elsewhere.

I was planning to put my 97' up for a 7-day auction this Friday with a very fair reserve but I'm becoming very pessimistic about whether I will get a fair price. I just sold my 67 Camaro on ebay and I actually got more money that I expected and the whole transaction was very smooth. It could be the market for muscle cars is way better than modern exotics though.

 

[dynatac]

I think timing may be a significant factor.
Think about people in the upper states. Who wants to buy a car when as soon as you take delivery, you need to put it in the garage until spring?

Also most people looking at the NSX that know about it and have done their homework are probably willing to compromise and get an older model, since 20hp and a targa may be something they can do without. (I fall in this category)

Some people just can't justify the price and their final bid is indicative of what they feel is a fair price in mind. (Again me, simply because I personally can't justify the NSX as a 70-90K car in this day and age)

Keep in mind you have competition. Yes NSX prices have gone down, but so have others like the 911/996, Z06, 355, Viper etc. Some people may just go the C6 route.

It doesn't cost an arm and a leg to list on ebay, so if you do it, I suggest you do it as a no reserve auction, and cancel it at the last minute if it's obvious you're not getting what you feel is a fair price.

Good luck with whatever you choose!

 

[Shumdit]

For the most part, Ebay shoppers want a bargain. Unless it is a rare, hot item (think IPOD Mini a few months ago, or maybe a brand new F430 right now) most people will not bid high for a used car they have not seen in person or driven. This is true with most cars on Ebay. Do not use Ebay as a guide for the value of your car, and do realize that (as mentioned above) sometimes deals are struck off ebay, even though it was the forum the two parties met each other through.

 

[nsxtasy]

I think the perceived risk for purchases on eBay is also a factor that drives prices lower than in some other venues.

Also, if a car doesn't sell, it just means that no one was interested that particular week. In a small market like ours, you can't expect to sell a car within a week unless it's truly a bargain price.

I suggest you do it as a no reserve auction, and cancel it at the last minute if it's obvious you're not getting what you feel is a fair price.

To me, that would come across as a seller who is deceptive (because that's not "playing by the rules"). I would be very reluctant to purchase anything from a seller who engages in such fraudulent tactics.

If you don't want to sell it for less than a certain amount, I suggest you either assign a reserve, or use a minimum starting bid.

 

[01blacks4]

also demand for the car has wained greatlty...look @ how many new ones are sold..you can only have so much demand for a car that has a 13 year run...

 

[Shumdit]

also demand for the car has wained greatlty...look @ how many new ones are sold..you can only have so much demand for a car that has a 13 year run...

I wil say I respectfully disagree with this statement. To me the demand for new ones disappeared within a few years of them being released (considering the huge price increases (MSRP) from the original 91 price, for one thing). That said, I think the demand for them as used vehicles is still very healthy. It is like the Supra TT models. Toyota could not give them away (and lowered MSRP by 10K, pissing off a lot of owners, and I think causing a few lawsuits), but now people jump all over them. A very nice 91 will still bring more than 50% of original MSRP, which is a huge number for a 14 year old car. The only people who really get hurt depreciation-wise, are people who buy them off the showroom floor (and then, really only if they do not negotiate agressively).

 

[RyRy210]

The demand for used vehicles is of course related to its depreciation making it more affordable for a lot of people that could not have otherwise afford the car new.

A new NSX is targeted to a certain demographic. A used NSX is different, and other factors like the cars condition and mileage would affect the price and its demand.

My son's 22 year old friend just got himself a '95 NSX because the price was right since the car had frame damage and was an automatic.

You can't use the same logic when you talk about new vs. used. A lot more research and due diligence must be done to assess the value of a used vehicle.

Its easier to have a budget in mind, say $30K, and find a used NSX that fits that budget. You can't do this for a new NSX.

On ebay it’s hard to pay top dollar for a vehicle you've never ever seen in person.

 

[nsxtasy]

I wil say I respectfully disagree with this statement.

So do I. The fact that a well-maintained early NSX sells for almost the same amount as it did five years ago speaks for itself. Demand is as strong as ever.

considering the huge price increases (MSRP) from the original 91 price

If you adjust the MSRP for inflation, there has not been any huge price increase at all:

MSRP of 1991 NSX in 1990, in 1990 dollars: $60,600
MSRP of 1991 NSX in 1990, in 2004 dollars: $87,399
MSRP of 2004 NSX in 2004, in 2004 dollars: $89,765

 

[Steve]

Never thought of it but if you use the 91 dollars vs the 05 dollars and you purchased a new 91 in 91..........today it is worth about 30k in 04 dollars. What is that equal in 91 dollars.. 42k? Not much loss here!!

 

[nsxtasy]

today it is worth about 30k in 04 dollars. What is that equal in 91 dollars..

$21,676

 

[Meeyatch1]

...It doesn't cost an arm and a leg to list on ebay, so if you do it, I suggest you do it as a no reserve auction, and cancel it at the last minute if it's obvious you're not getting what you feel is a fair price...

I must disagree with this statement. A tactic like that is what makes you into one of the more shady, and less trusted, members of the Ebay community. If you are going to have a no reserve auction, then you have to have it and follow through. Keep in mine that on auctions like that most of the serious bidders bid at the last minute. So you would be taking a huge chance by trying to wait them out and then pulling the auction only seconds before bidding. All in all, trying something as dishonest as that is not a good idea.

 

[hlweyl]

Mitch, I agree with you and Ken on that point and I would never consider doing that. My current plan is to list my 97 with a 39k reserve hoping to get a fair price between 40 - 45k.

When I sold my Camaro, Briank recommended publishing the reserve and it seemed to work out well (btw, thanks Brian). You wouldn't believe how many emails I got at first when the reserve wasn't published. I think some buyers may tend to shy away if they haven't a clue what the reserve is.

 

[nsxtasy]

Mitch, I agree with you and Ken on that point and I would never consider doing that. My current plan is to list my 97 with a 39k reserve hoping to get a fair price between 40 - 45k.

When I sold my Camaro, Briank recommended publishing the reserve and it seemed to work out well (btw, thanks Brian). You wouldn't believe how many emails I got at first when the reserve wasn't published. I think some buyers may tend to shy away if they haven't a clue what the reserve is.

I find the whole area of eBay "strategy" fascinating!

I am aware that some buyers shy away if they don't know what the reserve is. I don't understand why that would be the case, though. From a strictly rational approach, it would make sense for any prospective buyer to bid his "walkaway price" - the price above which he would be willing to walk away from the deal - and if he wins the auction or not, this would maximize his satisfaction with the auction. To skip an auction simply because there is an unknown reserve price means missing out on the satisfaction of possibly buying a car at a price that you would be happy with. There must be some kind of emotional (i.e. non-rational) motivation there.

As a corollary, I don't understand why it makes a difference if the reserve price is posted (either in the auction, or made available offline). If you're going to do that, why not just use that price as the starting bid? That will serve the same function - again, from a strictly rational perspective.

 

[hlweyl]

I don't really have the answer to that Ken although I do agree with what you are saying. I think one thing what happens is that frequently sellers will think that their item (be it a car, house, etc) is worth way more than they think. There is always that "emotional" attachment. So they put their reserve to far above fair market value and bidders notice that when bidding does hit a fair price, the reserve still hasn't been met.

My guess is that buyers do not want to waste their time on a certain auction if they think that in the end the car is way overpriced. You do have to dedicate yourself to the particular item because most of the action occurs at the end of closing so the bidder has to get as much information as he can, watch the bidding, and schedule himself to be in front of his computer during the last hour of auctioning. (My old camaro bid up over $2000 during the last 20 minutes of auction)

Could they just bid their "walkaway price"? Sure, but if their max price would be way over the current bid, they will never do that. I think the sellers need to make the deal look sweet enough to get alot of bids. When buyers see that other people are bidding they are more likely make a bid on that item vs other items that have not yet received a bid.

The idea of just using a starting price rather than a reserve is a good idea as well. I'm wondering from a ebay strategy, is using a reserve or a starting price better? I think the item with the reserve will have way more bids towards the end of an auction vs items that have a high starting price. Any thoughts?

 

[nsxtasy]

The idea of just using a starting price rather than a reserve is a good idea as well. I'm wondering from a ebay strategy, is using a reserve or a starting price better? I think the item with the reserve will have way more bids towards the end of an auction vs items that have a high starting price. Any thoughts?

I think there are pluses and minuses both ways.

If you use a starting price with no reserve, you can put "NO RESERVE!" (or "NR") into the eBay title, which seems to attract some attention to the auction.

If you use a reserve price, you can have "action" (bids) on the auction at lower prices, and watch the item get bid up. But if the bids are less than the reserve price, they don't really matter (maybe they do from an emotional standpoint, but not from a rational one).

 

[lancemr2]

Some ebay stats:

- Back in early September a Yellow '97 with 37100 mi sold for $37,302
- In late September a Prime member sold his Silver '97 with 112327 mi for $31,712 on ebay... and he's local here in Maryland.
- In April a Blue '97 with 6600 mi sold for $34,900

I've noticed that '97 NSX's with in the 40-60k miles ballpark are getting their top bids in the $38-42K range.
The most I've seen any bids on a '97 go for this past year on ebay is just $43,000 and that was one with just 24,500 miles (needless to say, that one did not sell on ebay).

Unfortunately, a 1997 NSX is out of my price range, so it won't be me picking up your NSX

 

[emdoller]

I just purchased a 95 Red/Black NSX two weeks ago off of EBAY. The car had 14K miles and an extended warranty. It cost me $36K and I bought it w/o seeing it in person. This is my 2nd NSX (first was a new 2000 in yellow).

The car arrived and was exactly what I expected from a car that had only 14k original miles. Both the interior and exterior are in fantastic condition.

I agree that most people are hesitant, and for good reasons, to buy a car w/o looking at it in person. I guess it's the old risk / reward thing at work.
I have been looking for about 5 months and beleive I got a great deal.

I didn't realize how much I missed driving this piece of artwork. For the record, I do not like the new ones and that's wjy I went for the "old" style.

 

[Shumdit]

Some ebay stats:

- Back in early September a Yellow '97 with 37100 mi sold for $37,302
- In late September a Prime member sold his Silver '97 with 112327 mi for $31,712 on ebay... and he's local here in Maryland.
- In April a Blue '97 with 6600 mi sold for $34,900

I've noticed that '97 NSX's with in the 40-60k miles ballpark are getting their top bids in the $38-42K range.
The most I've seen any bids on a '97 go for this past year on ebay is just $43,000 and that was one with just 24,500 miles (needless to say, that one did not sell on ebay).

Unfortunately, a 1997 NSX is out of my price range, so it won't be me picking up your NSX

Ok, Let's clarify this: The cars you mentioned (especially the Blue 97 with 6600 miles) may have been bid up to that price, but that does not mean they sold for that price. Are you saying reserve was met on all of these??? I highly doubt that is true, unless they are salvage title, or something was way off about them

 

[nkb]

Auctions, in general, have a really weird dynamic. A lot of it is psychological.

I've seen this scenario multiple times: Let's say a bedroom furniture set is up for bid, which they start at $3000. Nobody bids on it. The auctioneer starts dropping the opening bid, and goes all the way down to about $1500. All of a sudden, a flurry of bidding starts, with the price going over $3000 in a matter of 20 seconds. Somebody ends up buying it at about $4000.

There were multiple bidders in the running after it went over $3000. Yet, none of them bid when the opening bid was set at $3000. I guess they think there is a chance that they will get it for a much lower price, but I have yet to see that happen. In addition, all the furniture auctions I've been to, they have a reserve set, so you have no chance of getting it for dirt cheap anyway, because they will pull it back if that happens.

 

[lancemr2]

Sorry, been gone for a bit.

In my message, when I indicate 'sold for', that's the highest bid for an auction where reserve was met. I have no way of knowing if the sale actually happened or fell through (I have noticed that lots of auctions for NSX's that ended with a successful bid, but where the car is back on ebay a couple weeks later when the sale falls through). All other instances, where I indicated what the range of 'high bids' was, are auctions where the reserve was NOT met.

The point I was hoping to identify was that it appeared that bids on ebay were typically staying rather low for '97s.

Hope that clarifies my previous post a bit.

 

[Shumdit]

I do not think it is possible that someone would sell a 97 with 6600 miles for $34,900 with reserve met. I would love to see a link to this, as it must be a rebuilt car, or some weird scam, ala the free shipping from Europe ones now running rampant on Ebay and Autotrader.

 

[hlweyl]

From all of the recent auctions I've followed bids only get to about $10,000 under fair value. Mine did about the same.

 

[Ben]

IMO, I think eBay is full of lowballers looking for a bargain. I could be wrong, but in my experience, unless something is a collectible, out of production, or a limited edition that can't be easily bought somewhere else, you will never get fair market value for it on eBay, simply because the people who are willing to pay fair market value will have already bought it for fair market value outside of eBay.

 

[Eric C.]

Well I recently sold a 1965 Ford mustang fastback on ebay...I've had a few...it was ok...got over 8000 hits...it sold in 7 days for DOUBLE the price it should have . No fuss, no tirekickers...ahhh sometimes 2 people want the same thing!!!! :biggrin:

 

[apapada]

IMHO Ebay's auctions sell the adrenaline rush of getting something valuable for dirt cheap. Many people on Ebay are looking for "unheard-of", "cheaper-than-cheap" bargains. When a reserve auction is on, it denies the dream of getting that item at a lower-than-valued price, and turns-off most bidders eventhough they don't know what the reserve price is.
Same thing applies for those auction which start at a fair-priced value. It appears to be better to start the auction at $0.01 and let it run past a given price than starting that same auction at that given price.
Or the bidders who wait the last 10 seconds before placing their final bid eventhough Ebay practices proxy-bidding (it will bid for you up to the highest price you are willing to pay for)

Very emotional indeed...