Used NSX Pricing not consistent with price guides!?!?

[cdroadwarrior]

Hi Everybody,

I am moving to Florida and am seriously shopping to purchase an early-to-mid 90's NSX (5-speed) in the near future.

When I look on Edmunds (which supposedly bases its valuation on average transaction prices), it prices almost all of the NSX's (including mileage and reasonable appraisal of condition corrections) at $5K or $10K below what people are offering their NSX's at. Therefore, it appears that there is some segment of the used NSX market that sells them significantly lower than the channels that I have been looking at. Do dealerships sell these cars significantly cheaper than private sellers? Do people end up selling their cars for less than they list them for? Or is Edmunds just incorrect? Do the automatic NSX's (which obviously, and justifiably, demand a lower price) skew the average?

For example, many of the 1991 NSX's are appraised at just over $20K with about 70K miles, but often go for almost $30K. I know these cars are worth $30K in terms of what you are getting, but the market is what actual determines value, and I can't afford to spend too much more than $25K on an NSX, and I obviously want to get as much car for the money as possible.

Does anybody know what the best channel to go through to get an NSX at the Edmunds valuation is? Does anybody who is in Florida want to sell their NSX for a price in the mid-20's?

This seeming contradiction has confused me for a while, so I am hoping that the collective wisdom of this group will help.

I can't wait to get an NSX. I drove 2 while working as a Technical Assistant at Car and Driver Magazine, and I was hooked!

Thanks again,

- Brock

 

[V12NSX]

I think Edmunds is a little skewed here. NSX's in general depreciate down to around $30K give or take 2 or 3k's. Unless you want a project car (and you probably don't), It pays to find one in good condition. High mileage is fine as we have a number of members going over 200,000 miles with strong engines. You might find an early model with more than 100K for around the 25k price you are looking for. However - shy away from any NSX that can't show a good maintenance history.

Hope this helps,

S.L.

 

[JAYS NSX]

Hi Everybody,

...........I know these cars are worth $30K in terms of what you are getting, but the market is what actual determines value, and I can't afford to spend too much more than $25K..........

- Brock

Actually, supply and demand is what determines the price of goods and services, not the "market" as you say. In the case of the NSX, which has a relatively high demand versus supply of purchase worthy cars, the market is very different than let's say a Honda Accord, a car that is a dime a dozen.

 

[tochigidream]

If you're looking for fair pricing (what you would expect someone to sell you one for), go to www.nada.com. They are right on the money IMO.

 

[cdroadwarrior]

Re: Re: Used NSX Pricing not consistent with price guides!?!?

Actually, supply and demand is what determines the price of goods and services, not the "market" as you say. In the case of the NSX, which has a relatively high demand versus supply of purchase worthy cars, the market is very different than let's say a Honda Accord, a car that is a dime a dozen.

I agree completely. I should have phrased it better. By saying that the market determines the price, I was trying to make the point that the pricing guides do not determine the price. I was trying to say that the market price (which is determined roughly by the intersection of the supply and demand curves) supposedly should be reflected in the Edmunds price, but I also know that probably only a very small percentage of these sales are actually recorded therefore resulting in this estimate of the price not being representative.

 

[apapada]

When I look on Edmunds (which supposedly bases its valuation on average transaction prices), it prices almost all of the NSX's (including mileage and reasonable appraisal of condition corrections) at $5K or $10K below what people are offering their NSX's at. Therefore, it appears that there is some segment of the used NSX market that sells them significantly lower than the channels that I have been looking at.

I had the same question when looking at other exotics, before finalizing my decision on an NSX. I even contacted Kelly Blue Book on that and they said that the prices on all cars are following some kind of statistics & mathematics that account for devaluation. Actual sale prices are used for adjustment purposes. What happens with low volume selling exotics (and the NSX definetely falls into this category) is that not enough sales are generated to keep that price adjustment in par with reality and hence you get anywhere from $5K to $15K differences on some models (the rariest the model, the most discrepancy you may see). Do not rely on the Edmunds, KBB etc. when buying an exotic. Just look at the marketplace for 3-4 months to get a good idea.

Hope this helps.
alex

 

[ISONSX]

I have to chime in on this one as well.. I totally agree with Alex. He hit the nail on the head. You cannot go by pricing guides for a low volume exotic lke the NSX. $30K is a good price for a >70K mile early '90's with all maintenance records. Like I used to tell my college drinking buddies...spend the extra dollar and get good beer. Same thing here. If you are going to spend $25-28, what's another 10 -15% for a much nicer end product? You'll never be sorry when you buy a better product.

Good luck in your search.

 

[FGG]

I concur with "Blown1981." The NADA guide is closer to reality, if you are going to look at a price guide (at least for a 96 NSX-T, red/tan, 23,000k--which is my standard of comparison). But, do not overlook the NSX PRIME pricing info in the FAQ under "Buying and Selling an NSX," which is a very helpful and close to reality as well.