NSX's Private party value?

[heySkippy]

That's the problem- those one or two individuals who are willing to overpay for whatever car basically ruin the market.

LOL! They aren't ruining it if you've got a similar car you might want to sell someday. In that case you're rooting for the seller to get his money.

I have no intention of selling my car, but I still find myself in the "For Sale" section of this site from time to time, checking prices and keeping up on the market. I don't see prices going down.

 

[brahtw8]

With so few cars for sale (just look at Autotrader for '91 to '94s), one person caninfluence the market. As an example the first NSX in the aforementioned search that comes up is a '91 with several mods, 38K mi., with exhorbitant asking price of $55K. Let's say, for argument's sake, that this particular car has been listed for 2 months already. And let's also assume that it'll still be around 7 months from now. Then sometime in November, Joe Came Into New Money Smith, is looking for a toy and he hears through the grapevine about Prime. Well, he registers, posts about this car that has caught his fancy and a few members here "advise" him, given all the bells and whistles, that this car would be a "steal" at $47.5K. So, he gladly empties out his wallet, then shows off his newly acquired beauty on here.

I have been watching the NSX market for several years. When you mentioned that car, I knew immediately which one you were takling about. The 1991 you speak of is a car that has been sale for a long time. At least a year, IIRC. It is overpriced, but not as overpriced as you state.

The car in question, a low mileage 1991 with Comptech SC, NSX-R gears, Brembos, and a variety of other mods, is typically going to sell for low to mid $40s. It is worth at least high 30s. It may take a while, but there is a market for that car in that price range. If the price were $45k instead of $55k, the car would generate far more interest.

If I wanted a black NSX, I would be interested in that car for high 30s or low 40s, assuming it is what it appears to be.

As far as the number of NSXs for sale at any given time in the US, it is probably around 250-300. Autotrader is typically in the 150-200 range, ebay in the 20-30 range, and figure another 50 (relatively active/recent) on prime and another 50 on other internet sites and local newspapers.

 

[nsxtasy]

With so few cars for sale (just look at Autotrader for '91 to '94s), one person caninfluence the market.

Nonsense.

Let's say, for argument's sake, that this particular car has been listed for 2 months already. And let's also assume that it'll still be around 7 months from now. Then sometime in November, Joe Came Into New Money Smith, is looking for a toy and he hears through the grapevine about Prime. Well, he registers, posts about this car that has caught his fancy and a few members here "advise" him, given all the bells and whistles, that this car would be a "steal" at $47.5K. So, he gladly empties out his wallet, then shows off his newly acquired beauty on here.

More nonsense.

Like Ryan, I've been observing the market for used NSXs for years. I talk with a lot of people who are shopping for NSXs and a lot of others who are selling their NSX. The offers they report - these are actual cars for sale and actual offers to buy - are consistent with the advice provided here. Every time I've seen someone ask what a car is worth here on NSXprime, most of the replies are from knowledgeable observers who reply what they have seen similar cars bought and sold for, with reasonable values. Sure, there are always a few posts from dreamers attempting to drive down prices by complaining about how high they are - just like yours sounds - but most of the posts are very realistic in evaluating prices that you will actually find in the market, rather than wishful thinking backed up by KBB's phony numbers.

9,000 cars all on the market? Or 9000 built total in 15 years, of which what # remain? And of those left, how many for sale at this given moment?

Hundreds, as Ryan noted. At this moment, there are listings for 166 NSXs for sale on Autotrader, and 73 on Cars.com - so if you think a particular listing is too expensive, there are plenty more to choose from.

The number of sales transactions of NSXs sold in a one year time frame pales in comparison to say, Accords sold in one day. So therefore, one or two individuals here, one or two there certainly can impact the market much more heavily than one or two in the Accord, Camry, or Focus world.

Nonsense. With hundreds of cars for sale at any point in time, one or two listings will not affect the market. No way, no how.

 

[MoreRPMs]

Hundreds, as Ryan noted. At this moment, there are listings for 166 NSXs for sale on Autotrader, and 73 on Cars.com - so if you think a particular listing is too expensive, there are plenty more to choose from.

No such thing as duplicate ads, eh? :wink:

166 nationwide.....over 15 model years! That's not much of a choice. Do a search for one model year of an Accord and limit it to within 50 miles of your house and tell me how many come up.

Nonsense. With hundreds of cars for sale at any point in time, one or two listings will not affect the market. No way, no how.

Nobody's talking about the listings themselves. It's the few takers on the insanely priced listings that's the main issue here.

Hundreds of NSXs for sale- I'll give you that. How many of them are bought and sold each day? We know the answer to new cars- for the last 8 or 9 years it's been about 200 to 250 annually. Are you then saying that hundreds of used NSXs change hands on a daily basis?

Check brahtw8's post above- that overpriced '91 has been on the market for a over a year. I guess the seller isn't the least bit motivated. But, with some luck he'll eventually unload it on a poor sap who happens to be desperate for that car.

 

[nsxtasy]

Yes, there are hundreds for sale. I never said anything about there being as many as Accords; you just threw that in as a "red herring" that made no sense to your absurd claim that one person or one sale can affect the market, which also makes no sense. Simple fact: with hundreds for sale, if the price of one car is higher than the market value, there are many, many more to choose from.

We've seen a few other people like you come in here claiming that the prices should be lower than they are, blah blah blah, trying to talk people down, dreaming that some seller would be foolish enough to fall for false claims like yours and sell for a ridiculously low price out of line with the market. But the simple fact is, most of the people in the market, as both buyers and sellers, do a lot of homework and know what most cars are selling for. They know when a price is out of line, whether it's an unmotivated seller who is asking too much for his car, or a lowballer who is dreaming that someone will believe the prices in KBB and hopes that a seller here might believe such hogwash. If you think the prices NSXs are selling for are too high for you to buy one, then stop dreaming, stop making your false claims that no one knowledgeable is going to believe, stop wasting your time and ours, and go buy some car other than an NSX.

 

[Ko-nsx]

KBB? i find it interesting that nobody mentioned N.A.D.A. This is what most lending institutions use. The guides for car prices are endless. I think the NADA book price gives an accurate value over KBB or some of the others, especially when its time to trade or get a loan for a car.

 

[nsxtasy]

KBB? i find it interesting that nobody mentioned N.A.D.A. This is what most lending institutions use. The guides for car prices are endless. I think the NADA book price gives an accurate value over KBB or some of the others, especially when its time to trade or get a loan for a car.

NADA is indeed often a lot closer. Let's take the above example I already used, of a '91 NSX with 70K miles, in good condition (which NADA calls "Average Retail Value") in downtown Chicago, for sale by a private party (NADA doesn't distinguish between private party sales and dealer sales, FWIW). NADA says such a car is worth $27,775. That's pretty darn close; I would have estimated $28-30K. (Again, KBB put this car at $19,075.)

However, NADA doesn't always accurately reflect the upper end of the market, cars in flawless condition, with all the maintenance up to date (including timing belt, etc), and absolutely no issues whatsoever. NADA calls those cars "High Retail Value" but in this example only prices it at $29,450; such a car would likely sell in the $32-33K range, possibly even $34K.

 

[comquat1]

I had to pay over KBB for my '94 NSX that I just bought. I haven't seen an NSX with decent miles anywhere near KBB. I paid $35K for my NSX w/ 18K miles. It seems like a good deal even though the book doesn't say so.

You got a white 94 with 18,000 miles for that!?!?!?! I hate you! :biggrin:

 

[steveny]

However, NADA doesn't always accurately reflect the upper end of the market, cars in flawless condition, with all the maintenance up to date (including timing belt, etc), and absolutely no issues whatsoever. NADA calls those cars "High Retail Value" but in this example only prices it at $29,450; such a car would likely sell in the $32-33K range, possibly even $34K.

KBB states that only 5% of cars meet the criteria you have stated. Most of the cars I have owned DO in fact meet those guidelines set by KBB, right down to having the book stamped for service visits and all receipts. However I have never received high book value when making a trade at a dealership even though my car meets the guidelines.

From KBB site
"Excellent" condition means that the vehicle looks great, is in excellent mechanical condition and needs no reconditioning. It should pass a smog inspection. The engine compartment should be clean, with no fluid leaks. The paint is glossy and the body and interior are free of any wear or visible defects. There is no rust. The tires are the proper size and match and are new or nearly new. A clean title history is assumed. This is an exceptional vehicle.

 

[cebernstein]

You got a white 94 with 18,000 miles for that!?!?!?! I hate you! :biggrin:

I did have to put in a new slave cylinder if it makes you feel any better.

 

[Ko-nsx]

Most Lending institutions use NADA. Thats my reference point. But i'm not that much of a negotiator(at least not for cars, they aren't really an appreciating asset). I f i saw a clean nsx with service records and tip top shape i'd use the nada, then see if I could afforf it or not. It would be a waste of time to offer a guy 19k for a 30k vehicle.

 

[comquat1]

I did have to put in a new slave cylinder if it makes you feel any better.

A little but not much.... :biggrin: You got a smoking deal on for the car with that color combo.

 

[docmental]

2cents worth
I've checking, but there's nothing out there now for the price I paid for mine last year...

 

[Ski_Banker]

With so few cars for sale (just look at Autotrader for '91 to '94s), one person caninfluence the market. As an example the first NSX in the aforementioned search that comes up is a '91 with several mods, 38K mi., with exhorbitant asking price of $55K. Let's say, for argument's sake, that this particular car has been listed for 2 months already. And let's also assume that it'll still be around 7 months from now. Then sometime in November, Joe Came Into New Money Smith, is looking for a toy and he hears through the grapevine about Prime. Well, he registers, posts about this car that has caught his fancy and a few members here "advise" him, given all the bells and whistles, that this car would be a "steal" at $47.5K. So, he gladly empties out his wallet, then shows off his newly acquired beauty on here.

Point being, there were no takers, at least not within $20,000 of the seller's asking price. But, Mr. Uninformed isn't well-versed in exotics (or semi-exotics) so he plunks down a chunk of money.

Perfect example of one individual setting the market. Or more like, "spoiling" it.




9,000 cars all on the market? Or 9000 built total in 15 years, of which what # remain? And of those left, how many for sale at this given moment?

The number of sales transactions of NSXs sold in a one year time frame pales in comparison to say, Accords sold in one day. So therefore, one or two individuals here, one or two there certainly can impact the market much more heavily than one or two in the Accord, Camry, or Focus world.

NSXstacy is correct, it is an efficient enough market but there are always outliers for people that over/underpay because they know the market better.