What is the deal with Kelly Blue Book?

[LeftLaneNSX]

I'm in the market for a 91-92 auto NSX and noticed that KBB is estimating these at 20k for a pristine one w/95k miles for private party sale.

This seems to be well below (20%) asking prices on Cars.com, Autotrader & eBay where similar cars are going for 23-25k private party so I am curious as to this discrepancy?

 

[ABhagat]

For whatever reason, value estimators like kbb always under value cars like the NSX.

 

[nsxtasy]

For whatever reason, value estimators like kbb always under value cars like the NSX.

Here's the reason. With high-volume cars like the Honda Civic and Accord, they can track sale prices and come up with reasonably accurate estimates for market values. With low-volume cars, there aren't enough sales to use as estimates, so they apply standard depreciation percentages to the car's original market value. They continue to apply these percentages even when the value of a limited-production car like the NSX has stopped declining. The percentage depreciation for an NSX from one year to the next is significantly less than that of a mass-volume car which may be worth very little after 8-10 years.

For a more accurate estimate of market values, see the NSX FAQ. Click on "Buy, Sell", then on Pricing.

 

[jond]

I'm in the market for a 91-92 auto NSX and noticed that KBB is estimating these at 20k for a pristine one w/95k miles for private party sale.

This seems to be well below (20%) asking prices on Cars.com, Autotrader & eBay where similar cars are going for 23-25k private party so I am curious as to this discrepancy?

I think the bluebook on my mustang is like $500, but it's appraised an insured at 40 times that! It was the same with my old Type-R. The bluebook was WAY off.

My guess it that KBB probably uses standard deprecation rates for all cars, and the only variables are probably initial cost, condition, mileage, and age. I seriously doubt they do market analysis for every car that's ever been made.

 

[hofffam]

I don't know about KBB, but Edmunds used car prices are reasonably accurate on common cars. I think they DO track actual selling prices for vehicles sold in volume. Edmunds is not accurate for NSXs.

 

[TCroly]

The prices that the reference guides use to determine values are prices at wholesale auctions. The '91-'01 NSXs that end up at wholesale auctions are primarily salvage title cars or repossessions. For newer models, sometimes they see some off lease cars, but theses are typically the high mileage cars that the dealer chose not to sell themselves. The fine quality cars that change hands on this message board are generally of a much higher quality than those that are occasionally found at the wholesale auctions.

 

[enesexdreamer]

Iets just say any NSX is w0rth what a buyer is wiIIing t0 pay;

 

[nsxtasy]

The prices that the reference guides use to determine values are prices at wholesale auctions.

That may be true for mass-market cars, but they don't get enough data to use auction prices for low-volume cars like the NSX. They use depreciation formulas derived from mass-market cars, not auction prices.

 

[TomCat]

I USED to use CPI (Cars of Particular Interest) for low volume value...don't know if they still exist?

 

[ABhagat]

Is there any other system other than the nsx faq that actually tracks the sales of recently sold cars so that the estimated value is actually accurate?

 

[nsxtasy]

Is there any other system other than the nsx faq that actually tracks the sales of recently sold cars so that the estimated value is actually accurate?

No. (And the NSX FAQ doesn't track sales of recently sold cars, either.)

 

[pierceman]

Iets just say any NSX is w0rth what a buyer is wiIIing t0 pay;

true, and can be said of almost any car. look at the asking prices on supras

 

[MCM]

What does the Kelly Blue Book say this one is worth?

http://www.corvetteforum.net/classics/396_rat/

 

[RON98]

demand and supply...

if there are 1000 people willing to pay more than you than you'll get it after 1000 people all had a go at it. :tongue:

acturally NSX prices have been making a COMEBACK and are on the rise.

about 8 month ago they where around 23K for a 1991 but now you can kiss that price good by. Its hard to find any thing on cars or autotrade for under 25-26K even with high milage.