Are Prices really dropping?

[wgmr]

Happy Christmas All

I saw a post on here by baby NSX who said that in his view prices for the NSX are dropping. I bought mine last year and it took me 6 months to find it, when I did I have to pay the asking price, but was happy to. I don't really see why the NSX prices should be falling. Do you?

Surely if you keep it in top spec depreciation should only be in line with mileage and age, espcially now there will never be another one made!

On that note, I am seriously considering putting new headers and exhaust on to give it a raspy note. Perhaps even an air box too. I have been thinking about this for a while, but cant work out what sort of performance different this will make and what sort of noise it will make. I am still holding off pending being able to listen to some of your mods in the new year I hope. I reckon that I will end up spending around £2k on the car to help it breath as it should be able to. I would hope that if I came to sell it I should get some of that back, but not all of it, is that too much to hope for, would it be worth less with a modification?

See you later

[trackdemon]

I think straight unmodified cars will always be worth a little more, or at least easier to sell.

I also think that - unfortunately - NSX prices have dropped, indeed are dropping. I find this crazy, you really cant get a better car for the money yet people seem to have this perception that £13k will buy you a nice useable NSX, which is simply bonkers. The motoring press have something to answer for; Autocar for example recently quoted a "heres one we found" ad for a leggy, very early, auto @ £13k - the implication is that because the ad exists, that must be the right price. I still think my 52k UK RHD manual red/black is worth £19k, which is still stupidly cheap when you look at what your getting for your money. Anyway, I'll worry about prices when I sell and not before.

[Rob_Fenn]

Maybe NSX owners should do what the Sierra Cosworth club did a few years back, they all met up and agreed to improve residuals by setting their own price guide!

[kevinpsw]

I have been following NSX prices, at least as seen on Autotrader, Exchange and Mart and eBay, whilst I have been abroad for 5 months, my intention being to buy an NSX early next year upon my return to the UK. There are cars that have been for sale for longer than 6 months. Some of these have had sizeable price drops yet they have still not sold. Perhaps it is linked to end of NSX production, as would be the case with any other out-going car model, such as old shape 3 or 5 series BMWs for example. The market also seems to be very colour sensitive.

This, of course, bodes well for me as a future buyer except for the fact that I worry that I might buy only to see the prices continue to fall off at the same fast rate! Hopefully they will stabilise. My advice to those contemplating a sale - and I would say this wouldn't I - is be realistic in your pricing. I would also like you to let me know what your car is like. My home is in South London and I'm looking for a manual towards the bottom end of the market. It can't be yellow, sadly, as my wife has insisted that she doesn't want a "bannana car outside the house".

[Paul G]

Couldn't agree more Trackdemon :)

[DamianW]

Couldn't agree more Trackdemon :)

Yep, hit the nail on the head. I'd also add that its not just NSX prices that have taken a hit - all sports cars seem to be suffering at the moment. Perhaps fuel prices are partly to blame there, and it'll pick up again next year.

[simonprelude]

I think you had seen part of the point, the car's that have been for sale a long time on garage forecourts are like that for a reason, they are not 100% in some way. The prices of these ones drop to make a sale, then people think they have to drop to be able to sell them also.

Then there are the few that will be put up for sale at a proper price and will be sold immediately. You take your chance really, buy a good one and if you decide to sell, keep the price, someone will want it eventually.


I have been following NSX prices, at least as seen on Autotrader, Exchange and Mart and eBay, whilst I have been abroad for 5 months, my intention being to buy an NSX early next year upon my return to the UK. There are cars that have been for sale for longer than 6 months.

[Papalazarou]

There seem to be many factors which determine what people buy and are prepared to pay.

Badge seems pretty important; I had a drive in a 328 GTS the other day, obviously a very pretty car but more of an investment than a useable tool whilst being fragile and expensive to run.
The NSX was much quicker, sounds better and you can't even compare the build quality.
but people love the horse!

I think also that some people look at the NSX as an inaccessible supercar that they could not afford to own and run.
I remember reading years ago that the tyres were special fitment and cost £1000 per set and a major service was £1200! so it's no wonder people worry about these costs and buy a Boxster or a TT with a third of the mileage.

Ok and then we get to the lack of education; I was at one of my customers garages the other day and he likened the NSX to the Mitsu 3000 and the Nissan 300ZX. Now both are excellent cars and a good match for the NSX but they aren't really the same thing....people don't understand what the NSX is.

I think also there are good and bad colours and specs. I blame the motoring press for this because they are always trying to justify there existence often by being too critical or ridiculing for the sake of magazine sales or ratings. 'I mean, would you seriously rate a car based on a review from say Jeremy Clarkson?'

finally, we shouldn't freak out about prices when buying a 20K NSX and losing a bit, because it's a whole lot better than buying a 20K Mondeo or 3 series and losing a lot whilst having a pretty unremarkable experience at the same time.

Cheers, James.

[kevinpsw]

I accept that anyone who chooses to buy a new Mondeo (personally, I think buying a new volume car is madness) is going to lose shed loads of money very quickly, whilst not having a huge amount of driving fun. But that Mondeo type car will often be 'a must have' means of transport. For most of us, however, an NSX will be an, in addition, 'nice to have' second car, an indulgence.

I would love to be in a position to dismiss depreciation from the financial equation but there has to be an element of the 'head' as well as the 'heart' employed in my decision making process.

Unwelcome though such a view might be, the market does suggest that securing an NSX sale is very difficult and that prices are dropping quicker than maybe they have in the past. I still want one though!

[Baz]

I've just started out on the quest to find a good, posy facelift NSX. Looked at the first one yesterday in Ongar. Bloke selling a few cars from home as it turned out which put me off straight away. Car is silver and has scratches on pratically every panel which for a 26K mile car was totally unacceptable. For some reason the guy thought the fact the car had been owned by some 80 year old bloke was a selling point. Looks like he dinged every car in Putney where the car was based. I walked away without even turning the key. Not a good start to my buying experience - I'll keep enjoying my 350Z in the meantime - no hurry!

Happy Christmas all,

Baz

[BrownBear]

I think you had seen part of the point, the car's that have been for sale a long time on garage forecourts are like that for a reason, they are not 100% in some way. The prices of these ones drop to make a sale, then people think they have to drop to be able to sell them also.

My car wasn't quite 100% (scratch on wheel arch - 96%, then :)), and it took ages to sell. I could have sold it for less (17K was my lowest offer :shock: ), but I didn't have to. So just because a car takes a while to sell, doesn't mean that there's something wrong with it (colour/targa roof influenced my sale). Similarly, just because a car sells quickly, doesn't mean there's not something hidden in its past.

As with anything, it depends how desperate you are to sell. If you absolutely had to sell your car this week (I mean right now, just before Xmas/New Year), how much do you think you would get? Much less than if you could afford to wait, I suspect.

Welshman took his car back rather than sell it at a laughable price - his car was for sale for a very long time and there was nothing whatsoever wrong with it...

Since the number of buyers and cars is less (hinted at by Papalazarou - people don't want an 8 year old Honda for the best part of 30K), the price influences the sale but isn't the be all and end all. Some people will pay a premium for a better example and some won't - it depends why they're buying. That doesn't mean the better example is worth what the others offer - just that you haven't found the right buyer yet :)

Have a great Xmas all,
Joe

[Stumpy]

Rest assured prices will rise again in the spring.

Why?

Because I will be looking for one then.

It works like this. Whenever I decide I want something, Car, Motorbike, mountain bike etc. Supply dries up and prices rise. As soon as I get my new toy the price drops and everyone and his dog has one for sale :D

Stumpy

[qureshia]

just seen a new shape 2002 with 25k miles at a garage advertised for ...



£33,995 :shock:

never seen a new shaper below £40k before !

Tempted ..very tempted !

[Baz]

Be warned - sounds like the one I went to have a look at - Ongar?

Baz

[sportyking]

Having just finished looking around and finally bought the one I want, I would say the 99-04 cars have definately come down a few thousand over the past 9 months but no more than I would expect for cars in their price bracket. I can't really speak for older cars as I never paid great attention. What is obvious out there is that the asking prices bear no relation to the condition of the cars in the Honda dealer network or other trader cars. Most just pluck something out of the air that they think they can get away with. Go look at the 02 in Yeomans Honda with its worn seats repaired paint and budget tyres and it is no wonder some cars wait ages to sell. That one has come down to 38 from 40 and is still way overpriced when you look at the the 02 next to it for 40k. Condition is king but when did a dealer really look at any of your cars properly before putting a trade in value on it? The car I bought was admittedly offered on here initially for a reasonable to slightly high price with no takers and unfortunately I missed the reduction that would have convinced me to go private sale (it does make a difference to me) but when it came up in Grantham Honda at a still reasonable price, because of its condition three people were trying to buy it within two weeks, so they will sell quickly if they tick all the buyers boxes. It's not a car you buy because your old one blew up, or got shunted and you need a replacement, so most are prepared to only bid on the one perfect for them. There is no problem with shifting sports cars at the moment, Grantham Honda also sold my S2000 P/ex within a week because it was wanted by the buyer despite around 6-8 other S2000's on their forecourt, and was a reasonable price. Would that buyer have bought the S2000 from me for a 1k less if I would have taken an M3 in P/ex, probably not, even with the remaining 15 months warranty, because I am not a dealer.
Hopefully forums like this will help with proving a cars history and assist private sales. Then cars will change hands for reasonable money for buyers and sellers alike, without losing another couple of grand going through dealers all the time, keep the mint and track day cars on here, let the dealers have the other stuff, or when the car needs a six annual service/clutch :D

[BabyNSX]

the main reason IMO is simple supply and demand. When I was looking for one in early 2004, there were only a handful for sale during the whole of that year in the price bracket I was in (up to 28k). I did verbally agree on a T and was on the way to the Nissan dealer near Swindon somewhere when he took a deposit from another buyer :evil: However, maybe that wasn't such a bad thing as I recall the price was around £27k for a 96/N in red.
What I noticed in 2005 is there have been a load of NSXs to the market, basically many more cars than buyers. Add to this the different state of the economy, higher fuel prices, and general financial pessimism, and you've got a cocktail for a slump in prices.
I had a lot of interest in my car early on, and I refused offers which were higher than my eventual sale price. Therefore I endorse the point of realistic pricing at selling time - When the buyers have a choice of cars, no matter how good your one is, it still needs to be sold.
I definately think the idea of a 10-14 year old Honda for c20k will put many buyers off, just because of the fear of depreciation. I have TG car magazines from 1997 which Quintin/Tiff quotes £14k for a decent NSX - even back then the press had no idea of the true market value.
For a real eye opener - try this: phone up a dealer and offer your NSX as a cash sale to see what he offers. Make sure you're sitting down though :shock:

[simonprelude]

Saw your car yesterday on the M25, was looking good still :)

I was in the DC2 (ITR) though.



I think you had seen part of the point, the car's that have been for sale a long time on garage forecourts are like that for a reason, they are not 100% in some way. The prices of these ones drop to make a sale, then people think they have to drop to be able to sell them also.

My car wasn't quite 100% (scratch on wheel arch - 96%, then :)), and it took ages to sell.
Joe

[BrownBear]

Saw your car yesterday on the M25, was looking good still :)

That's good to know - he's only had it a week!

Cheers

[kevinpsw]

I've been looking to see if I could find any sort of price guide for older (than 1996) NSXs and I have found something through Parker's. You have to pay £2.99 for 24 hrs access but it will provide a mileage adjusted price for a car through main and independent dealers (showroom condition), private sale (good and poor condition) and part exchange. To give an example: For a 1991 (H) low mileage (67k) manual the main dealer price is £15055, private sale £12325 and a PX £10850. Whilst these may seem a little on the low side to some, they would appear to be indicative of what cars seem, to me at least, to be selling for.

Has anyone had experience of this guide in sale/purchase negotiations? Does anyone know of another guide that would cover older NSXs? Glass's perhaps? I tried to look at the latter but 1997 seemed to be the oldest available.

[sportyking]

While I agree the quoted values may seem to be in the ball park to a casual observer, these cars really are all about what the buyer is prepared to pay, not a guide price. While I was looking , the tiniest things would make me walk away and others resulted in me valuing the car (for me) way lower than the asking price. I eventually paid a fair price for a good car, but would have paid a fair bit more for the one I bought because it ticked the right boxes for me. Silver and red cars are worth thousands less to me, but are probably the most popular and safe colours for value, with some people only looking for these colours, hence someone with a particuloar car has to wait for the right person or drop the price to pull in other buyers that will settle for an NSX that doesn't tick all boxes. Of course, the more upmarket you go with cars the less people are prepared to settle for some other colour/mileage/whatever so the drop is bigger. If I was selling mine, I would put it up for what I was prepared to pay and wait, and wait, and wait, maybe adjusting after a year or so to reflect the extra age. I wouldn't be interested in a guide and would invite people making silly offers to look elsewhere.

[UltraViolet]

If you want to buy a car that is scarce in numbers, usually the guides are pretty worthless IMO.

The prices you quote there - I was offered (twice) last year sums way in excess of the dealer price quoted - both offers refused and not even considered (although I confess, one offer was very generous and with hindsight - I perhaps should have at least taken the chap's number - lol)

[simonprelude]

Use the link off the autotrader website, it's free and unlimited :)

But for an idea, look how few are for sale at the moment.


I've been looking to see if I could find any sort of price guide for older (than 1996) NSXs and I have found something through Parker's. You have to pay £2.99 for 24 hrs access but it will provide a mileage adjusted price for a car through main and independent dealers (showroom condition), private sale (good and poor condition) and part exchange.