NSX Price Trends: New Hagerty Valuations Released

[tof]

The August pricing data are up on the Hagerty collector car valuation pages. These valuations are updated three times a year, at the end of April, August and December. August, 2015 shows small increases pretty much an across the board in NSX values. Increases range from a couple hundred dollars to eleven hundred depending on year and condition. Some model year NSX's have been flat for the last year and those joined the party, increasing a bit just like all the others. Nothing really dramatic to report but a nice appreciation across the board. Certainly better than the Dow lately and you can't have nearly as much fun with those Apple stock certificates. :wink:

Values range from 25K for a condition 4 '91 5-speed (assume at least 1000 less for an automatic) to 86,700 for a condition 1 Zanardi. Pricing only goes through 2001 model year. I guess the frog-eyes are still considered "used cars" rather than collectible by Hagerty, although I'm betting they would be happy to write a policy on an '05.

All data here: https://www.hagerty.com/valuationtools/HVT/VehicleSearch

 

[blue_myriddn]

Pricing only goes through 2001 model year.

You can get info on 2002+ - just need to set the model to NSX-T. Price info is flat for the most part for the 2002+

 

[warrenw]

I just had my 1991 appraised for insurance purposes and these number line up. Market values are way up. For my 1991: ~13% per year, compounded over the last three years.

 

[AEROBUFF]

What is the deal with NA2 coupe values? Does anyone think that the NA2 coupes are less valuable than the targas? I would pay $48.7k for a Condition 2 1997 coupe in a heartbeat.

 

[blue_myriddn]

What is the deal with NA2 coupe values? Does anyone think that the NA2 coupes are less valuable than the targas? I would pay $48.7k for a Condition 2 1997 coupe in a heartbeat.

they likely don't have sales information and are just using NA2 targa values.

 

[Vanishing Point]

My condition 1 '05 took a nice jump without even taking into consideration of the rarity of the color combination.

 

[skafia]

What do they use for mileage for these figures? Do they go by the average 12k per year?

 

[tof]

skafia, that's one thing they don't explain anywhere. My guess is that condition is far more important with most older collector cars. Obviously mileage is a HUGE factor with NSXs, though. Maybe they factor that into the condition. But if so, they don't say so anywhere in the on-line description of the valuation tool.

 

[Wavey1]

Wow... my'92 is now worth about 15K more than I paid for it 4 years ago. Nice!

 

[skafia]

My condition 1 '05 took a nice jump without even taking into consideration of the rarity of the color combination.

I'd like to see what you consider a condition 1. Apart from a brand new NSX, I don't think I've ever seen a condition one. Care to post some photos?

 

[blue_myriddn]

For a NSX, I think that mileage would only come in to play for the Condition 1 cars - in which case you had better have 10,000 miles on it or less. There may be a few exceptions to that, but if you are over 30,000 - I would say there is a 90% chance that your car is Condition 2 (or 3).

With that said the exotic collector car market has largely been dominated by the unreliable but strikingly beautiful Italian vehicles (and even they have gotten more reliable), so maybe higher mileage will start to be less important. Honestly though I doubt it as everyone likes their car to be as close to "new" as possible when they are shelling out Condition 1 dollars.

Condition 2 would probably be hard to achieve with a car over 100,000 miles (and probably even over 75,000).
Condition 3/4 is unlikely to have large mileage restrictions and more to do with history & condition of the car.

It is worth noting that Haggerty lists their "average" price at Condition 3. Generally speaking, dealers list their cars at Condition 1/2 prices and actually sell them at Condition 3/4 prices.


Just my 2 cents.

 

[TomCat]

My opinion is that the "collector car market" is not dominated by driving enthusiasts...the high $ collectables are treated as original art. Therefore, I believe the higher $ NSXs will be the low mileage early model ones with: original wheels and tires, working Bose stereo systems (with speakers, center sub and cassette players), working retractable antenna, original floor mats, original air intake boxes, original exhaust systems etc...

This forum is dominated by enthusiasts...of which I count myself as one and I can imagine the "collected" NSX owners do not frequent forums...they still go to their original dealer for their oil changes and minimal repairs.

 

[BlackTop99]

What is the deal with NA2 coupe values? Does anyone think that the NA2 coupes are less valuable than the targas? I would pay $48.7k for a Condition 2 1997 coupe in a heartbeat.

Just simply a function of a lack of data points. There aren't many of them and they change hands less frequently than any other variety. Even Zanardis. I would guess condition for condition, the NA2 coupes command about a $15k premium to the targas.

 

[AEROBUFF]

Just simply a function of a lack of data points. There aren't many of them and they change hands less frequently than any other variety. Even Zanardis. I would guess condition for condition, the NA2 coupes command about a $15k premium to the targas.

I understand that coupes do not change hands very often, but I figured a company like Hagerty would be able to establish a correct value. Their entire business is based on valuing and insuring rare and collectible vehicles. I would be pretty upset if I paid the market value for a coupe ($65K) only to have Hagerty deny a stated value policy because they believe the car to be worth $49K. $15K is quarter of the car's value and a big deal relative to NSX values. This is something I would expect from NADA and KBB not Hagerty.

 

[skafia]

Just simply a function of a lack of data points. There aren't many of them and they change hands less frequently than any other variety. Even Zanardis. I would guess condition for condition, the NA2 coupes command about a $15k premium to the targas.

I just checked, and a 2001 Coupe is priced higher than a 2001 Targa: $75900 vs $74800 (Both condition 1). It's very interesting that they are able to get these values when these cars do not change hands publicly at all, especially the Zanardis. Would it be safe to say that these prices are the average of the agreed prices on current policy holders?

 

[BlackTop99]

Would it be safe to say that these prices are the average of the agreed prices on current policy holders?

I haven't the slightest idea how they come to values on cars that aren't traded publicly. Ever. When it comes to a car where there are literally 20 of, it becomes even harder since the individual motivations of the policy holder come in to play. Do they want the lower valuation for the lower premium? Who knows? And, who knows how many policies that Hagerty even has out for NA2 coupes?

It's a black box to me....

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I understand that coupes do not change hands very often, but I figured a company like Hagerty would be able to establish a correct value. Their entire business is based on valuing and insuring rare and collectible vehicles. I would be pretty upset if I paid the market value for a coupe ($65K) only to have Hagerty deny a stated value policy because they believe the car to be worth $49K. $15K is quarter of the car's value and a big deal relative to NSX values. This is something I would expect from NADA and KBB not Hagerty.

"Value" is a strange thing, right?

Say you are writing a policy for a rare/collectible car. The whole agreed upon premise is that the insured amount should be enough to cover the replacement of like with like. Now, I challenge Hargety to do the following. Find an NA2 owner who would be willing to part with their car for a $5K premium to a like Targa. $10K? $15K? So, how does Hagerty "value" the NA2 Coupe vs. the like targa? Grey area for sure.

So yea, "value" is a weird thing, especially when it comes to something as scarce as what we are talking about here.

 

[blue_myriddn]

My opinion is that the "collector car market" is not dominated by driving enthusiasts...the high $ collectables are treated as original art. Therefore, I believe the higher $ NSXs will be the low mileage early model ones with: original wheels and tires, working Bose stereo systems (with speakers, center sub and cassette players), working retractable antenna, original floor mats, original air intake boxes, original exhaust systems etc...

This forum is dominated by enthusiasts...of which I count myself as one and I can imagine the "collected" NSX owners do not frequent forums...they still go to their original dealer for their oil changes and minimal repairs.

I believe this man speaks the truth.

 

[TomCat]

I believe this man speaks the truth.

I'm just old enough to have experienced this and not too old that I can't remember.

 

[The King]

My opinion is that the "collector car market" is not dominated by driving enthusiasts...the high $ collectables are treated as original art. Therefore, I believe the higher $ NSXs will be the low mileage early model ones with: original wheels and tires, working Bose stereo systems (with speakers, center sub and cassette players), working retractable antenna, original floor mats, original air intake boxes, original exhaust systems etc...

This forum is dominated by enthusiasts...of which I count myself as one and I can imagine the "collected" NSX owners do not frequent forums...they still go to their original dealer for their oil changes and minimal repairs.

Original tires would definitely be high on my list for sure!?

 

[skafia]

Original tires would definitely be high on my list for sure!?

Now that's sketchy. 10+ year old original tires are not a good idea I'm sure. The originals have been discontinued, correct?

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I haven't the slightest idea how they come to values on cars that aren't traded publicly. Ever. When it comes to a car where there are literally 20 of, it becomes even harder since the individual motivations of the policy holder come in to play. Do they want the lower valuation for the lower premium? Who knows? And, who knows how many policies that Hagerty even has out for NA2 coupes?

It's a black box to me....

- - - Updated - - -


"Value" is a strange thing, right?

Say you are writing a policy for a rare/collectible car. The whole agreed upon premise is that the insured amount should be enough to cover the replacement of like with like. Now, I challenge Hargety to do the following. Find an NA2 owner who would be willing to part with their car for a $5K premium to a like Targa. $10K? $15K? So, how does Hagerty "value" the NA2 Coupe vs. the like targa? Grey area for sure.

So yea, "value" is a weird thing, especially when it comes to something as scarce as what we are talking about here.

It would have made life a lot easier for me had you been that guy!

 

[TomCat]

Now that's sketchy. 10+ year old original tires are not a good idea I'm sure. The originals have been discontinued, correct?

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hence the VALUE to a collector

 

[BlackTop99]

Now that's sketchy. 10+ year old original tires are not a good idea I'm sure. The originals have been discontinued, correct?

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It would have made life a lot easier for me had you been that guy!

Dude! you ended up w/ a Zanardi! Hardly a poor consolation prize IMO.

 

[95nsxtc]

Original tires would definitely be high on my list for sure!?

My friends 93 had original tires on it. Sold his to a museum somewhere

 

[vdavie]

i just started looking for one again. Had one about 10 years ago and sold it. i see a lot of cars for what ii would consider strong money but they hang out there a long time. I bought a 1989 M3 all original with 80k miles on it a few years back. i never drive it. I paid 24k for it and it is a very, very nice car. that car now it seems is worth over 50k. what should i be paying for lets say a 93-95 with less than 75k miles on it? Stock is best as i live in Ca and don't want any smog issues.

Thanks,
Vince

 

[tof]

'95 Targa with 75K, all original (or with original parts included), no stories, reasonably nice inside and out, and with a solid documented maintenance history should be available for 43-45K all day. Patience and willingness to travel for the right car might get you something for around 40 or maybe even high 30s. That's my guess.

'93s may be available for up to 10K less. Since 93s are coupe only there is no bump for open air motoring. 93s aren't that much different from 91s after all and they lack the "first year" appeal of the 91s. (Purists may prefer the more rigid coupes over the targas but the market seems to value the topless option more.)