Why do some NSXs carry a premium?

[allkingz]

I've noticed that some NSXs for sale follow NADA or Kelly Blue Book value and some exceed book value by $10K or more. Why is this?

I don't mean to flame anyone, and I understand some cars can violate the laws of vehicle depreciation because of the rarity, demand, or mileage/condition of the car. I am simply wondering what circumstances would cause some NSXs to sell for more than book value.

EDIT: And yes, I did read the FAQ.

 

[nsxtacey]

Its a selling stratagy. I've notice that higher asking price nsx do not sell until the price comes down to a more reasonable price. Just look in the nsx for sale in the market section and notice how many times the price gets decreased. It lets dealers have alot of room to work with and when they let the buyer cut off like 3-5k, the buyer feels rather satisfied though there still is alot more room to work with. But ofcourse it all depends on the car as oultlined in the faqs. I know of a nsx that a dealer was asking 60k initially, 8 months later sold it for low 40's, a 15k swing I think sport cars like the nsx, carrera, m3 etc have about 7-10k above actual price. So if you knock off 3-5k, the dealer gets about a 2-3k profit which is reasonable accounting for how much they put into the car and overhead etc.

 

[gheba_nsx]

Several times however the premium is due to the fact that the car is A LOT BETTER than the average 10-13 years old carthat the books are referring to...

 

[X-spdfrk]

Here is an example of what my car is worth for private party sell via KellyBlueBook Values and what I believe to be reality.



KELLEY BLUE BOOK
1991 NSX
Private Party Value: $24,335
Mileage
14,000
...............

Condition
Excellent
Engine: V6 3.0 Liter
Trans: 5 Speed Manual
Drive: Rear Wheel Drive
Mileage: 14,000
Air Conditioning
Power Windows
Power Door Locks
Cruise Control
AM/FM Stereo
Cassette
Multi Compact Disc
Premium Sound
ABS (4-Wheel)
Leather
Dual Power Seats
Premium Wheels


Now, If anyone on this site can say that is an accurate value for a 1991 with 14k miles and excellent condition I will take a few more off your hands. Forget the intrinsic value the car has to me, the real cash value is at least $10,000 more than that. Price vs Value is relevant to each individual car. Consideration has to be given to vehicle condition, mileage, SERVICE RECORDS, and more importantly what exactly is the buyer lookiing for. Clean car, low miles, services completed, history accountable, all adds up to top dollar value in my opinion. There are alot of NSXs for sale in the market right now, but when you evaluate each one at the same level of quality they begin to seperate into classifications.

btw, i personally wouldnt take less than $38k for mine, cause its that fine to me

 

[dnicho05]

A couple of months ago I picked up my 1997 NSX-T with 6,500 miles on it, at a dealership, for a couple hundred less than KBB retail. It looks like it just came from the factory, was well cared for, and is worth more than I paid for it (IMO).

From my buying experiences with the NSXs, the older mint condition NSXs move farther away from KBB value than the newer ones. So if you are concerned with blue book, and can afford a newer one, then pick up one of those.

In the early 90's NSX catagory, it's only the average to fair condition cars, without any service records, that fall close to the KBB and NADA private party values. For a well cared for NSX, the sale price will usually fall close to, or above, the full retail value regardless of whether you are buying from a dealer or a private person.

 

[docjohn]

Supply and demand, although there are more older coupes around there are still more potential buyers for these cars than for the newer targas, plus as has been echoed many times before,there is a premium to be payed for the ever decreasing single owner no issues well maintaned nsx's.

 

[nsxtasy]

My experience is that NADA and Kelly are useless when it comes to accurate estimates of market value for the NSX.

In my experience, the Pricing section of the FAQ is far more accurate than any other publication.

Some cars sell for more than others because of mileage and condition. However, it's amazing how many owners think their cars' condition is excellent when it isn't.

Some of the variation may be due to unrealistic asking prices, as Stacey mentioned.

 

[dnicho05]

However, it's amazing how many owners think their cars' condition is excellent when it isn't.

Thats the truth. Every NSX I looked at when I was shopping was listed as excellent, near mint, or mint. Out of all the NSXs I looked at, only two were in their correct advertized condition. One "Mint" one I went to see in Orlando looked like someone had taken 150 grit sandpaper to the entire paint job.

But like nsxtasy said, look at the Pricing section of the FAQ here ( http://www.nsxprime.com/FAQ/BuySell/pricing.htm ). It still is pretty accurate for the early 90s models. I'm not sure when the chart was last updated to reflect current NSX prices, but from my shopping over the last two years, the 97 through 2001 prices need to be lowered (For example the three A to A+ 1997 NSXs that came down to the line for me, were all in the $40s. Two were in Nevada in their teens on the odometer, and the one I finally bought here in Florida with just 6,500 miles on the odometer).

Take your time and actually view/inspect the cars. It the NSX is in the condition that meets your criteria, make an informed offer. If they are truly being unrealistic, give them your card and walk away. You may be pleasently surprised in a week or so with a phone call accepting your offer, or you may find a better NSX.

EDIT: IF you are really interested in getting an NSX, and not just complaining about prices.

 

[satan_srv]

Also, a lot of people don't NEED to sell their cars, and are only looking to sell them for a worthwhile price.

 

[allkingz]

Thanks for the replies.

It was not my intention to complain about prices, but to collect opinions on what makes an NSX worth more. I don't mind paying a little more to get the car I want in the condition I want, but I don't want to pay an unreasonable amount more than I should have to.

 

[Osiris_x11]

A Tale Of Two NSX's...

hmmm, here's some insight that I am sure prospective NSX suitors can benefit from...

1991 NSX 5spd. Berlina Black (blk int.) w/ 16k miles~ 1owner car; Zanardi floor & trunk mats; original clutch; new OEM tires; rebuilt hatch-struts; window reg's function (for now); climate-control & stereo working A-1; 4yr/60k|6yr/90k services Not done; all maint'/service records & 'clean' title; mechanically: 9.9/10 & cosmetically (int/ext): 9.9/10

Asking: $39.9k, +t.t.l. & shipping [reputable prestige dealership]


1991 NSX 5spd. Berlina Black (blk int.) w/ 72,5k miles~ 2owner car; Zanardi floor & trunk mats; NSX car-cover & bra; OEM CD-changer trunk-mounted; recent clutch replacement, full brake-service, valve-adj'/gasket-seals, oil-pan replacement; climate control & window reg' & stereo bugs addressed; worn OEM tires; engine hatch-struts function, trunk hatch-struts need service; 4yr/60k|6yr/90k services done; all maint'/service records & 'clean' title; mechanically: 9.5/10 & cosmetically (int/ext): 9/10 (when clean )

Asking: $ 29.9k, [private sale by a NSX afficianado]


*RandomStat': $0.18/mile "penalty of usage" difference between the ownership of the two NSX's

Both cars were purchased by Austin-area NSX nuts in the fall of 2003.

{NOTE: some info. may have been omitted w/o intention; I was going on recollection}

 

[pko5]

Also, a lot of people don't NEED to sell their cars, and are only looking to sell them for a worthwhile price.

Ditto. It took me over 1 year to convince the previous owner of my NSX to sell me his at a reasonable price...he wanted over $40k for his 1991/10k miles...a doctor who's been obviously smoking some good stuff...lol.