enkrypt3d said:
I have been looking at getting another NSX and yet, they all seem to be way over priced versus the Blue Book value? Why is this?
I figured since Honda has stopped making the NSX, the resale value would go down a bit, and according to KBB and others, it has..... why hasn't the people selling their NSX's seen this?
KBB and Edmunds are useless when it comes to pricing low-production cars such as the NSX. In the absence of sufficient available resale data, they simply apply a depreciation percentage to the car's original purchase price. Their values are totally out of line with the market. They claim that you can get a nice used NSX for under $20K, which is ridiculous. Find me such a deal and I'll buy a dozen of 'em.
The best pricing guide for NSXs is the one in the FAQ (under Buy, Sell ==> Pricing). The values there are slightly high for the few most recent years, but otherwise they are accurate.
enkrypt3d said:
I wouldn't say never. It's not as if blue book values are completely irrelevant...
Yes, they are.
enkrypt3d said:
For example, if you total your NSX, even if it is 100% stock, you won't get even the KBB value...
Absolutely untrue. Insurance companies reimburse based on market value, NOT on KBB values. Depending on the insurance company, you may need to negotiate with them and prove to them how much it would cost to buy a similar car to replace your loss; the better insurance companies (generally, the ones with high ratings for claims satisfaction in
JDPowers and Consumer Reports) give you a fair offer up front and don't make you haggle with them. Almost everyone I know who has totalled an NSX (and they have been numerous) has been satisfied that their reimbursement was fair (which would never be the case if the insurance companies used KBB as a basis).
enkrypt3d said:
I have dealt with the insurance companies on trying to get fair claims settled... and its always a pain (Even if your car isnt an exotic) ....
Sounds like you have been dealing with the wrong insurance companies. I bet you are not with USAA or Amica. Probably not State Farm, either.
enkrypt3d said:
Most insurance companies look at KBB or Chomebook (and who knows where else) to get their numbers...
Absolutely not true.
enkrypt3d said:
my point is, I think its rediculous to see a 1991 NSX with over 100k miles going for almost $40k when the KBB says $20k...
As noted in the FAQ, a
typical 1991 NSX with high mileage should sell for $20-30K. Of course, anyone can ask whatever he wants for his car.
Also, with older cars, condition plays a much greater role than mileage per se. A car that has a lot of miles, but has been extremely well maintained, and has all the maintenance up to date and absolutely no issues, will sell for more than the typical car.
enkrypt3d said:
even if it does have some mods, the mods will not raise the car's value very much if at all.
In most cases, that is correct. Certain mods (e.g. supercharger) may be legitimate exceptions. Also, this is a heavily modified car. Heavily modified cars may sell for a lot more than bone stock ones
if - and this is a big "if" - the seller can find the right buyer, i.e. someone who wants a car modified exactly this way and who is willing to pay a premium for such a car. The more a car is modified, the less ability anyone has to say that the car is worth $XX,000 (any particular amount), because there aren't a lot of similar cars out there with similar mods that are for sale. And, for this reason, the more the car is simply worth "whatever someone is willing to pay", as others have noted here.
It sounds to me like you want exactly this car, with its mods, but you don't want to pay the premium that the seller is asking for. Don't use this topic as a place to complain that you don't want to pay the seller's asking price; he's entitled to ask whatever he wants. Make him an offer (it says "obo") or look elsewhere.
