Bad economy, NSX seller's market

[crysto25]

Hi all,

I'm in the hunt for a 2002 plus after driving a friend's.

Recently put my car up for sale and it sold for $39.5k. I had a 93 red/black with 18/19 rims and 32k miles that was pristine. People were saying I was crazy thinking to list my car at 40k but it actually sold here in San Diego. Bad economy, NSX seller's market, haha. I've noticed that the un-abused NSXs out there are really hard to come buy and drive up the price.

If you're selling your pristine NA1 NSX, don't go by the crap blue book puts out there at all. Your car is always in demand and you dictate the price... people will pay to have such an exclusive car that is in mint condition.

 

[Jetpilot3]

Hmmm...not sure what to think about the NSX re-sale market.

Having just purchased an 02 Imola I did pay a bit of a premium in my mind but the car had only 9,199 miles on it and is a rare exterior/interior combination. Experts say the U.S. market is in decline/recession etc. but luxury cars are still selling at good prices - maybe because us Canadians are buying them up?!?!...hehe

In some regard its a great time to purchase due to lease returns and changing priorities of NSX owners. I've seen some great deals on 02 - 05 cars recently but nothing like "less than $50K mark" some would kill for.

Even Porsche's are doing okay in terms of resale at the moment...

 

[goldNSX]

It's hard to generalize from a single case. IMO you were just lucky. :wink: There's no theoretical correlation between bad economy and NSX seller market, much more between production stop and sale price.

 

[docjohn]

As Ken would say if you don't care about year/color then your choices/bargaining power are greater than if you must have a particular year/color as jetpilot was alluding to.The title of the thread is also confusing as intuition would say in a poor economy most luxury goods will be a tough sell.

 

[supra2nv]

if a pristine example pops up, people will be all over it, limited negotiation. my 2 cents. i would even consider buying another one if a "rare opportunity" came up...heck, I had my credit card down on that Imola one a while back so I could move quickly on it if the buyer backed out....

 

[omega2]

Rare low mileage cars will generally get priced higher, the issue is whether the buyers are out there. The weaker economy may be a deterrent for most; but if someone wants the car, they will pay what your asking. If they are haggling the price too much, then they really don't want the car.

 

[usafdarkhorse]

Hmmm...not sure what to think about the NSX re-sale market.

Having just purchased an 02 Imola I did pay a bit of a premium in my mind but the car had only 9,199 miles on it and is a rare exterior/interior combination. Experts say the U.S. market is in decline/recession etc. but luxury cars are still selling at good prices - maybe because us Canadians are buying them up?!?!...hehe

In some regard its a great time to purchase due to lease returns and changing priorities of NSX owners. I've seen some great deals on 02 - 05 cars recently but nothing like "less than $50K mark" some would kill for.

Even Porsche's are doing okay in terms of resale at the moment...

I believe this is real and, if so, the $50K mark is in reach.

http://atlanta.craigslist.org/car/752644860.html

2003 yellow on yellow

Anyone know this car?

 

[synth19]

I believe this is real and, if so, the $50K mark is in reach.

http://atlanta.craigslist.org/car/752644860.html

2003 yellow on yellow

Anyone know this car?

^ That's banbang's car. He's active on this forum. It's post in the classified sections. I seriously doubt he'll sell his car for 50k.

 

[usafdarkhorse]

^ That's banbang's car. He's active on this forum. It's post in the classified sections. I seriously doubt he'll sell his car for 50k.

Eh I wasn't talking about haggling him down below 50K. I was mainly saying that it was a price that was getting close to the mark for NSX's in general.

 

[Tony Montoya]

Thanks crysto25. That information is very important to some of us.

 

[tom4416]

I haven't followed NSX pricing closely enough to be able to talk to trends, only what the current market is in the DC area. This week, a 97 & a 98 both popped up on CL. Both price mid-30's. The 97 (red/black) w/38K miles, the 98 (yellow/black) w/29K. Red was current on TB/WP, 98 needed it done.

The 98 sold for $35K (asking price), the 97 sold (to me ) for $35K. I don't know if that's good/bad/normal or what but it is a whole lot of car for the money. I do think high end cars are, in general, taking a hit because of both the economy (fewer people able to buy) and gas prices (fewer people wanting to buy). The NSX is so far off in its own little niche that I'm not sure either of those issues are relevant. I'm certainly not in the demographic you would normally associate with an NSX but saved enough over the years to pay cash. As for gas prices, their killing me as much as everybody else but the NSX is sane enough that it's easy to justify the mileage based upon the recreational enjoyment of driving it and the fact that it will only see limited use each year.

Tom

 

[prestonmay]

It appears to be allot more NSx on the market from when I bought mine a year plus ago(lower priced)....Seem like they are easier to find now(web) but harder to sell, with some low mileage, late model and or pristine examples. What is the demographics of the past and present owner? I mean I can make an educated guess at the past, but whats the present assumption? I say assumption, for no poll on this site I have read is detailed enough to coin who is buying the cars now. I do think the economy does play a role. The avg person may not want to spend 30k on a car that they will drive for recreation on the weekend.........:frown:

 

[ZX4NSX]

I haven't followed NSX pricing closely enough to be able to talk to trends, only what the current market is in the DC area. This week, a 97 & a 98 both popped up on CL. Both price mid-30's. The 97 (red/black) w/38K miles, the 98 (yellow/black) w/29K. Red was current on TB/WP, 98 needed it done.

The 98 sold for $35K (asking price), the 97 sold (to me ) for $35K. I don't know if that's good/bad/normal or what but it is a whole lot of car for the money. I do think high end cars are, in general, taking a hit because of both the economy (fewer people able to buy) and gas prices (fewer people wanting to buy). The NSX is so far off in its own little niche that I'm not sure either of those issues are relevant. I'm certainly not in the demographic you would normally associate with an NSX but saved enough over the years to pay cash. As for gas prices, their killing me as much as everybody else but the NSX is sane enough that it's easy to justify the mileage based upon the recreational enjoyment of driving it and the fact that it will only see limited use each year.

Tom

I noticed your previous post about the 97 and 98 prices you found, and those are great prices. I have been trying to keep an eye on the 97-01 market as I hope to start a serious search the end of this year. I wonder if it is a CL thing; I usually look here and Autotrader. Is there a way to search nationwide on CL?

 

[synth19]

There does seem to be quite a bit of NSX's for sale, but it seems as if that if the seller does not get the price he wants, their isn't a huge dip in price. The seller just seems to hold onto the car and it just sits @ the price he feels is fair.

 

[usafdarkhorse]

I noticed your previous post about the 97 and 98 prices you found, and those are great prices. I have been trying to keep an eye on the 97-01 market as I hope to start a serious search the end of this year. I wonder if it is a CL thing; I usually look here and Autotrader. Is there a way to search nationwide on CL?

Yes!

www.jaxed.com

Once you're there, clack on "The Mash" somewhere at the top center of the screen.

From here you can search for specific models and years ( when I mean specific, I mean the NSX and a few other are the ONLY Acuras you can search for ).

It's extremely hard to search for 97-01 NSX's. However, 91-96 and 02-05 are easy.

Here's a quick search for 02+ .
http://www.jaxed.com/cgi-bin/ms.cgi?veh=acura+nsx&state=&fil=&ys=2002&ye=2005&submit=go

Keep playing around with the years until it gives you something.

 

[ZX4NSX]

Thanx Jared :smile:

 

[MisterNSX]

The economy is affecting the increase in NSXs for sale, the time
it takes to sell and the reduced prices. I'm basing that on the
increasing volume of cars on the market (been watching it closely
for years) and the comments in those ads.

Its a buyer's market, not a seller's market, other than very
specific NSXs like the Zanardi, late coupes, Imola, etc.

 

[tom4416]

I noticed your previous post about the 97 and 98 prices you found, and those are great prices. I have been trying to keep an eye on the 97-01 market as I hope to start a serious search the end of this year. I wonder if it is a CL thing; I usually look here and Autotrader. Is there a way to search nationwide on CL?

In the past, CL was the domain of people trying to dump their beater cars for a few thousand bucks and you seldom, if ever, saw a high end car there. Over the last year, I've noticed more and more people taking advantage of the exposure and the fact that it's free. Hardly ever saw something like an NSX show up and when they did, it was a heinous example. It's now as accepted as your local papers classifieds and more and more people are using it.

Another tool for using CL is craigshelper.com. If you told it to select every state it will but will take you forever to go through them. I use it to narrow down the five state region around me and it doesn't seem to miss anything.

 

[tosugrad]

Another tool for using CL is craigshelper.com. If you told it to select every state it will but will take you forever to go through them. I use it to narrow down the five state region around me and it doesn't seem to miss anything.

You can do a simple US wide search on Craigslist thru Google.

 

[ZX4NSX]

Another tool for using CL is craigshelper.com. If you told it to select every state it will but will take you forever to go through them. I use it to narrow down the five state region around me and it doesn't seem to miss anything.

Thanx Tom, man you got an incredible deal! I hope I am that fortunate when I am ready to buy :smile:

 

[willfong]

Yea good job! You found a great deal on the 97! I never really looked on craigslist myself as I thought I wouldnt really find any NSXs there. And in the few weeks Ive been searching I hardly saw any. I guess the ones in the DC area you mentioned passed me by. I would have certainly have considered them esp since they are relatively close to NYC for me.

I just put a deposit on a 92 Red on Black with less than 16K miles and I paid almost the same price as you did. But I think I did decent myself considering its only had 2 owners and not even 16k miles with everything being just about mint/original. Only thing is now I have trailer it back from Kentucky! Thats a 13+ hours drive one way for me.

I haven't followed NSX pricing closely enough to be able to talk to trends, only what the current market is in the DC area. This week, a 97 & a 98 both popped up on CL. Both price mid-30's. The 97 (red/black) w/38K miles, the 98 (yellow/black) w/29K. Red was current on TB/WP, 98 needed it done.

The 98 sold for $35K (asking price), the 97 sold (to me ) for $35K. I don't know if that's good/bad/normal or what but it is a whole lot of car for the money. I do think high end cars are, in general, taking a hit because of both the economy (fewer people able to buy) and gas prices (fewer people wanting to buy). The NSX is so far off in its own little niche that I'm not sure either of those issues are relevant. I'm certainly not in the demographic you would normally associate with an NSX but saved enough over the years to pay cash. As for gas prices, their killing me as much as everybody else but the NSX is sane enough that it's easy to justify the mileage based upon the recreational enjoyment of driving it and the fact that it will only see limited use each year.

Tom

 

[tom4416]

Yea good job! You found a great deal on the 97! I never really looked on craigslist myself as I thought I wouldnt really find any NSXs there. And in the few weeks Ive been searching I hardly saw any. I guess the ones in the DC area you mentioned passed me by. I would have certainly have considered them esp since they are relatively close to NYC for me.

I just put a deposit on a 92 Red on Black with less than 16K miles and I paid almost the same price as you did. But I think I did decent myself considering its only had 2 owners and not even 16k miles with everything being just about mint/original. Only thing is now I have trailer it back from Kentucky! Thats a 13+ hours drive one way for me.

I think we're at a point in time where $35K will buy a very nice example of a 91-98 car with low mileage, good record keeping, current on maintenance and no outstanding issues. Neither of the ones I looked at were "forced" sales (one owner took delivery of a Ferrari, the other investing in a house instead of a car) owners just looked at the marketplace and determined a price that would sell without a lot of hassle.

Sellers seem to get a lot of the 18 year olds responding with big dreams and no money (plus, they seem to think they should be turned loose for a long test drive). If they price it reasonably, they will turn up serious buyers pretty quickly and make it a hassle free process. My seller was good enough to actually entrust me with the car to take it for the PPI (of course, I left him my wife as collateral ). He made it easy for me and as soon as it passed PPI, I called my wife, she met him at our mutual bank and the transfer of funds was done in five minutes. He was happy, I was happy and we've developed a friendship since the sale.

 

[docjohn]

tom4416 I think you may want to limmit the 35k price point to 91-96:wink: The upgrades to the 97 and above still keep good examples at the 40k mark.

 

[Firesun]

If there is less then 1 % of NSX being sold in the used car market. Chances are it is still a Sellers market. The supply on NSX on the market is pretty low when you talk bout having over 8000 NSX from 1991-to the last year of NSX made.
There are those occasions where you find great deals. Those come and go real fast. If all sellers hold high value to their car, chances are that buyers have to keep holding off or just bite the bullet and buy it.
Having a NSX is not like buying a new Porsche or F-Car 360 or 430.
NSX have less production then any Porsche 996 or 997's/ or Ferrari 360's.
Those of us who own NSX knows we can drive these with confidence and not worry bout breaking down and left stranded. Not only are these cars friendly to drive, they have sex appeal to them.
So that leaves 99% of us still holding on to what we love best...our NSX.