Pricing FAQ accuracy ?

Joined
26 June 2003
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Do you all feel the pricing faq here is still accurate? The reason I ask is because it seems a little optimistic to me based on the recent asking prices on some NSX's I've seen.

I know the the blue book and other vehicle pricing tools aren't always accurate but what else are we supposed to use to figure out what a reasonable price for X vehicle is ?
 
Chad said:
...what else are we supposed to use to figure out what a reasonable price for X vehicle is ?

I often find that the best way to find out what a realistic purchase price of an NSX in year you are looking at is to talk to other recent buyers. Most people do a lot of homework when thinking of purchasing an NSX, and would surely be willing to share that advice with other prospective buyers. Especially on this forum.

W.r.t the Pricing Guide, while all attempts are made to keep it current, the market can, and does, change. Let us know specific transactions that actually happened that contradict the Pricing Guide and we can take another look at it. Keep in mind, though, that one or two such transactions don't necessarily mean the P.G. is out of whack. It could just be that those buyers got fantastic deals from sellers that either didn't know the market value of the car, or were in a rush to monetize.

KBB is definitely not a reasonable pricing benchmark IMO, as I consistently find it overpricing the true market value...at least of exotics. I don't know how it reflects the price of regular production cars.

Regards.
 
I tend to stay current with what's going on in the NSX market and believe that the prices shown in the Pricing section of the FAQ are an accurate reflection of what you can expect to find, as both a buyer and a seller.

I agree strongly with Vik's comment that there may be a fantastic deal here or there, that can be higher or lower than the prices shown. It can be that a buyer got a fantastic deal, or a seller got a fantastic deal. This can happen for various reasons - the desire to close a transaction quickly, lack of knowledge about the marketplace, etc. However, on either side this is relatively unusual. Sure, it happens - but nowhere near as often as people think or claim.

Much more common, in my experience, are differences of opinion regarding the condition of a car. Many ads make a car sound like it is a category "B" car and upon inspection it turns out to be a category "D" car, for example. Whether this is due to sellers who honestly do not understand the condition of their car and how it compares with others, or intentional misrepresentation, I don't know but I've seen plenty of evidence of both.
 
I think the ratings are what is throwing me off. Looking at a 97 with 50k miles on it, near perfect paint, interior no overt signs of wear I would rate then a high B, where someone else might see a scuff mark on the passenger side footwell and give it a C.

I looked at the 97 with 50k miles and its a B car to me... They were asking 42k, I could easily get them down to 39k.

Thats just one example from personal experience. Having just started my venture in to owning an NSX (in the buying phase) I still feel the chart is a bit scued, it may have been accurate a year or so ago. I know all those that own NSX's tend to value them higher then those buying them and I also imagine the chart was made by a NSX owners :)

I'm just a newbie to the used NSX scene but having looked at the few cars I have, and also seeing the dealers adds (autotrader etc) I just don't feel comfortable with the (In my opinion) inflated prices on the chart... Or I could just be a dumbass :)

I would also like to add that according to the chart a 97 A+ (basically a garage kept rarely if ever driven) NSX, is only 10-15k less then a brand new 2002 off the showroom floor... accurate ?
 
Chad said:
Looking at a 97 with 50k miles on it, near perfect paint, interior no overt signs of wear I would rate then a high B, where someone else might see a scuff mark on the passenger side footwell and give it a C.

I looked at the 97 with 50k miles and its a B car to me...

Well, there's your error; it's not a B car. Category B says "Average to lower miles". Average miles on an NSX is 5K miles per year. When a car has 67 percent more miles than average, it cannot qualify as category B. Mileage alone would make that car category D ("high to very high miles").

A scuff mark does not make a B car into a C car. In evaluating condition, there's a need to make a distinction between poor condition versus "wear consistent with mileage" (for example, a car with 50K miles would be expected to have some pitting on the front air dam and slight pitting of the windshield). Poor condition means paint that is faded or scratched, interior leather that is badly abraded, serious faults like that.

Chad said:
They were asking 42k, I could easily get them down to 39k.

That might not be so far off the mark; it depends. Was all the maintenance performed on schedule? What is the condition of the finish? The interior? Clean title? Six speed? At best, a '97 with much higher than average mileage is going to sell for mid forties, as shown in the chart; if it has other serious flaws, the prices your quoting may be entirely consistent with the chart in the FAQ.

Chad said:
I still feel the chart is a bit scued, it may have been accurate a year or so ago. I know all those that own NSX's tend to value them higher then those buying them and I also imagine the chart was made by a NSX owners

No, the chart was developed within the past few months, with input from many owners and prospective owners who have been shopping recently, and from dealers who buy and sell NSXs all day long. And sure, it was made by NSX owners, owners who are familiar with the market, and most of whom have no intention of selling their cars any time in the near future.

If you think the chart is skewed, feel free to look for a better deal. And if you can consistently find cars for sale for $5-15K less than the prices in that chart, send me a PM - I would like to go into business with you; you can find the cars, I'll buy them, and then I'll turn around and sell them for the prices in the chart.

Chad said:
I'm just a newbie to the used NSX scene but having looked at the few cars I have, and also seeing the dealers adds (autotrader etc) I just don't feel comfortable with the (In my opinion) inflated prices on the chart... Or I could just be a dumbass

Or, it could be that you are mis-evaluating the categories of the cars. Dealer cars are typically not in the A or A+ categories, and usually not in the B category, either. The higher the category of car, the less likely it is to go through a dealer, and the more likely it is to be sold in private hands - usually very quickly, too.

Chad said:
I would also like to add that according to the chart a 97 A+ (basically a garage kept rarely if ever driven) NSX, is only 10-15k less then a brand new 2002 off the showroom floor... accurate ?

Yes. But keep in mind that an A+ car is one with super-low mileage. Could a "perfect" six-speed '97 with clean title, full history, all maintenance performed on schedule, and, say, 1K miles sell for $55-60K, as shown in the chart? Yes, absolutely.
 
Re: Re: Pricing FAQ accuracy ?

NSXaholic said:
KBB is definitely not a reasonable pricing benchmark IMO, as I consistently find it overpricing the true market value...at least of exotics.
I think you meant KBB consistently undervalues the NSX. Remember back when some poster came here and claimed he should be able to buy a 91 NSX for $9k because KBB said so? Also, they price my car in the C/D category, whereas (IMO) it should be in the B category.

And besides the NSX, KBB does not have pricing info on any exotics. You won't find any data on Ferraris or Lamborghinis, for example.
 
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