Real world NA1 prices, what do you think

[Diego749]

So I find myself reading all the articles that I'm sure many of us have read, and it seems that the articles and Hagerty price projections don't actually match the real sold prices out in the market. As I monitor all the regular sites, Ebay, BaT, Autotrader, etc, I find that the cars that are listed at "market" value are not selling, many of them don't even get the initial bid, and many others the reserve isn't met (Ebay and BaT). The ones that do sell, sell for more at Bat than the comparable car on Ebay. I got some data of some NA1's 1991-1995, which sold on BaT in these are the numbers:

.......All the following cars are good or great shape and 5 speed manual transmissions......

https://bringatrailer.com/listing/1995-acura-nsx-10/
1995 Red 78K sold for $45,500 on 1/18


https://bringatrailer.com/listing/1991-acura-nsx-28/
1991 Blk 73K sold for $37,500 on 4/18


https://bringatrailer.com/listing/1995-acura-nsx-13/
1995 Red 89K sold for $43,000 on 4/18


https://bringatrailer.com/listing/1991-acura-nsx-30/
1991 Red 86K sold for $40,000 on 6/18


https://bringatrailer.com/listing/1991-acura-nsx-33/
1991 Blk 97K sold for $44,000 on 7/18


https://bringatrailer.com/listing/1991-acura-nsx-34/
1991 Blk 78k sold for $37,500 on 7/18

Avg year:1992
Avg Mileage: 83.5K
Avg Paid Price: $41,250


If we include the data from Ebay this brings the price average even further down. So the question is this, are the asking prices over inflated?

Let me know your thoughts,
Thank you in advance

 

[Mac Attack]

You're flat out wrong in your bold print that says the cars are in good or great shape. It pays to read the fine print.

The only two links you provided that I bothered clicking on had damage with body panels replaced (the first '95 link and the second-to-last '91). Obviously, that brings down the selling price and isn't reflected correctly in your analysis.

People tend to pay more for collector vehicles that haven't had body panels replaced. For those with damage, the buyer has more negotiating power.

Therefore, no, asking prices are not over-inflated. There is a much better market analysis in this subforum if you look further down by RacerXwing.

Edit: RacerXwing says that the average selling price is about 90% of the asking price in his market analysis thread. ICBW, but that may be for all averaged nsx. That seems consistent with the normal car market. If you are bargaining for a NSX, suggest a price 10-15% less than the asking price to begin the negotiations.

 

[Diego749]

Thanks for the response. I was exactly looking for other people’s opinions to educate myself. I did not know about the analysis you are referring to. I will look into it.
I did post it on the NSX Prime page in Facebook and got TONS of feedback. Thanks you all for the input


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[Diego749]

BTW. The only time I ever heard MackAttack was from this airplane mechanic name Mack back in Polar Air Cargo, would you happen to be him?


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[natcc99]

...I did not know about the analysis you are referring to...

http://www.nsxprime.com/forum/showthread.php/199875-Gen1-NSX-Current-Market-Analysis

 

[Jinks]

The problem is finding an Nsx that hasn’t been tampered with. There isn’t many of those around.... But even those cars sit on the market for some time. Everyone loves the nsx, they just don’t love the asking price and when you try to find replacement parts, good luck...

 

[Mac Attack]

Thanks for the response. I was exactly looking for other people’s opinions to educate myself.

RacerXwing has spent a lot of time compiling data over the years and has noticed a lot of interesting trends. While there are a lot of variables to consider, they've tried to identify as many as possible in that thread. Obviously, some of the biggest factors on pricing for a 25 year old "collector-type" vehicle are the stories behind it. Overall condition? Included service records? Any damage? How many previous owners? Number of mods and are they tasteful and reversible without too much cost? You can go on and on besides the standard year/mileage (options weren't really a factor on this car). These types of factors are what influences the asking price.

But, the biggest factor in my opinion is one that's had body panels replaced for whatever reason or frame damage. That's a huge red flag that will drop the price drastically on a fragile aluminum vehicle. Sure, you can replace those and fix it up where it looks and runs fine, but the overall worth of the vehicle is drastically reduced. I'm pretty sure that's why at least two of the examples you posted above from BAT did not fetch as much as a no-stories NSX.

No, not an airplane mechanic...

 

[Honcho]

The problem is finding an Nsx that hasn’t been tampered with. There isn’t many of those around.... But even those cars sit on the market for some time. Everyone loves the nsx, they just don’t love the asking price and when you try to find replacement parts, good luck...

Amen. Most that are still running have had some issues by now- scrapes, dings, resprays, etc. And, if you pay the $$$$ for the museum piece ones, you have rotted rubber seals all over the car, corrosion on the hose barbs, etc. Bottom line is that the Gen 1 NSX is a collector car now- it's been almost 15 years since you could buy one new. Most cars that age are in the scrap yard by now.

 

[RacerXwing]

In short, yes. The listing prices for both dealers and individuals are very much out of step with the actual values. Here's a link to my live-updated NSX Valuation Document.

https://docs.google.com/spreadsheet...giPanuhIfiHDIcsmwfqBxOUZJb_-WUwbcHb7L/pubhtml

 

[Mac Attack]

In short, yes. The dealership listing prices are very much out of step with the actual values. Here's a link to my live-updated NSX Valuation Document.

https://docs.google.com/spreadsheet...giPanuhIfiHDIcsmwfqBxOUZJb_-WUwbcHb7L/pubhtml

For dealer prices, but what about non-dealers?

 

[RacerXwing]

For dealer prices, but what about non-dealers?

Thanks for pointing out my mistake. I meant to say listings in general, individuals and dealers. The mean index for dealer listings is slightly higher than the mean index for individual listings, but not enough to be statistically significantly different.

 

[Mac Attack]

Thanks for pointing out my mistake. I meant to say listings in general, individuals and dealers. The mean index for dealer listings is slightly higher than the mean index for individual listings, but not enough to be statistically significantly different.

Interesting. Eyeballing the charts in sections 1 and 2 of your google document, it looks like the differences between asking price and value are about 10-15%. That still seems appropriate for all the vehicles I've sold and is just negotiating 101 in the used car market.

 

[Saclam]

[MENTION=18194]Honcho[/MENTION] brings up a valuable point. Maybe not this year or even this decade will there be a stabilized value for the NSX. Yes, there will be a starting point but as mentioned a cars story will become more important than year and mileage. I agree that a no panel replacement car without frame damage (repaired or not) will be the biggest factor in future NSX prices. I used to have a P 356 speedster, and that market was obsessed with rust. Engines, wheels, bushings, tie rods etc are all considered consumables in the collector market. The most important aspects at least for the 356 community was authentic grills, headlights, door handles, steering wheels, interior etc. As NSX parts become harder and harder to source, the all intact frame and body cars will ultimately fetch the highest resale. These cars will have the OEM radio, seats, vents, carpet, tool kit, and period correct accessories. I'm sure the Mugen stuff will become unobtainium at some point as well. The 356's with very low miles did command high prices as well, but with the value mostly being in the aforementioned OEM pieces. A complete tear down was not uncommon for a 2000km car to replace seals etc. If I was in the market I would be looking for a a well maintained non accident story car regardless of mileage, with excellent (VIN) matching body panels and as nice of an intact OEM interior I could afford. This of course may all be a moot point since the way things are going i'm pretty sure driving is going to be outlawed in my lifetime. We may get special permission to drive on a "track" but that may be it. Off topic I know but my friend works for an automated car company and they are discussing these regulations right now. At least in CA. :frown:

 

[MLCNsx]

I just thought I would share with you the NSX prices in Australia. A 2002 manual with 45,000 kilometres just sold for $260,000 AUD. It had an asking price of $300,000 and was sold in three days by a prestige car dealer without being advertised!!! If you look at our Australian website of all the NSX's currently available, you will see that your prices are exceptionally low compared to what people are paying here. I should add, we have very limited options and I can't recall the last low kilometre manual, except for the one mentioned above, that has been offered for sale.

https://www.carsales.com.au/cars/honda/nsx/?area=Stock&vertical=car&WT.z_srchsrcx=makemodel

 

[misterchen]

With BaT, you have to add $5k (buyer premium) to the final price calculation as that's the true cost of the acquisition.