So I was wondering the other day how prices of used NSXs of the last model will change with the introduction of the new one. Do you think they will go up, keep depreciating, or stay the same? Why?
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Change in prices with the introduction of the new NSX
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Re: Change in prices with the intoduciton of the new NSX
Words directly from the Sales Manager and 2 other salesman at Goodson Acura in Dallas
a couple of weeks back when I brought my 2002 in for Oil Change & Alignment...
"They have received numerous calls / inquiries with major interest in Pre-Owned
Early models. They have noticed a slight spike in prices now for older ones due
to the anticipation for the New Model. They are confident that prices may go up
on them as they are in demand currently and can't keep used ones on the lot."
They offered to purchase mine as well... My 2 Cents, I think there will be a bit
of an increase for great condition / low mileage examples.
Words directly from the Sales Manager and 2 other salesman at Goodson Acura in Dallas
a couple of weeks back when I brought my 2002 in for Oil Change & Alignment...
"They have received numerous calls / inquiries with major interest in Pre-Owned
Early models. They have noticed a slight spike in prices now for older ones due
to the anticipation for the New Model. They are confident that prices may go up
on them as they are in demand currently and can't keep used ones on the lot."
They offered to purchase mine as well... My 2 Cents, I think there will be a bit
of an increase for great condition / low mileage examples.
shawn110975
Suspended
Re: Change in prices with the intoduciton of the new NSX
I think any NSX in moderate to mint condition will gain value.
I think any NSX in moderate to mint condition will gain value.
Re: Change in prices with the intoduciton of the new NSX
+1 Shawn.
I think prices are on their way up for a long time. As the cars age, good examples will be harder to find, so smaller supply = higher price. The new car will keep the name and legend alive too.
+1 Shawn.
I think prices are on their way up for a long time. As the cars age, good examples will be harder to find, so smaller supply = higher price. The new car will keep the name and legend alive too.
Re: Change in prices with the intoduciton of the new NSX
Depends a bit on price point. A sub-$100k brand new NSX will drive the prices down on the 2002+ models that are currently in the $70k range. I know that if I had a choice between an $80,000 new car and a $70,000 ten year old car that it would be a pretty simple decision.
However, I think we are all expecting a price point around $120k which should do little to impact the 2002+ prices, and inflate the cars that you can buy under $50k. So I suspect there will be an increase in the price of early models that are in good condition.
I am always amazed at how many people know about the new NSX.
Depends a bit on price point. A sub-$100k brand new NSX will drive the prices down on the 2002+ models that are currently in the $70k range. I know that if I had a choice between an $80,000 new car and a $70,000 ten year old car that it would be a pretty simple decision.
However, I think we are all expecting a price point around $120k which should do little to impact the 2002+ prices, and inflate the cars that you can buy under $50k. So I suspect there will be an increase in the price of early models that are in good condition.
I am always amazed at how many people know about the new NSX.
Re: Change in prices with the intoduciton of the new NSX
you can attribute most of that due to the super bowl commercial.
you can attribute most of that due to the super bowl commercial.
Re: Change in prices with the intoduciton of the new NSX
KBB your car. Mine has gone up in value according to KBB
Is that right?!
KBB your car. Mine has gone up in value according to KBB
Is that right?!
Re: Change in prices with the intoduciton of the new NSX
Confirmed :smile:
nadaguides.com also shows an increase in value from a year ago and NADA is the pricing source generally referenced by lenders/dealers.
although KBB is showing $11,000 higher than NADA ?
KBB your car. Mine has gone up in value according to KBB
Confirmed :smile:
nadaguides.com also shows an increase in value from a year ago and NADA is the pricing source generally referenced by lenders/dealers.
although KBB is showing $11,000 higher than NADA ?
Re: Change in prices with the intoduciton of the new NSX
I agree, and I think the new one will be north of 120. Keeping prices intact or higher.
I agree, and I think the new one will be north of 120. Keeping prices intact or higher.
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Re: Change in prices with the intoduction of the new NSX
Conclusion: Prices are going to either stay the same or appreciate with the introduction of the new model since the car is likely to be in a completely different price segment than the current cars.
Reasoning: People that can afford the new one will either buy the new one at 120-150k+, and won't cross-shop with the old models unless they specifically want the older model for nostalgia/looks/history/etc--in which case they probably won't drive the prices down with low-ball offers.
People that can't afford the new model but can afford the older models won't really have much bargaining leverage. It's not like they can say "Hey, either bring the price down 15-20k or I will go buy a new NSX".
Since the two are in different price segments with different buyers, the intro of the new model alone shouldn't affect the current model's market. Jerry Seinfeld isn't going to lowball a Mark I NSX because he can by the Mark II.
Potential Appreciation: It may drive it up by bringing new attention to the brand/car, and we may see some trickle-down marketing in effect kind of like how car companies use F1 and racing, or flagship models (like original NSX), to promote lower-priced vehicles. Ex: The general populace may not know about the NSX, but advertising during the superbowl may interest a whole new segment of people.
Examples in the market: If you want examples, look to the Toyota Supra and whether or not the LFA affected it's price. I know the comparison is a little loose as they don't share the same name or brand, and it is extreme in that the LFA is something like 10X the price of a supra, but the principle still holds: people aren't going to cross shop even if they share interest in both vehicles. I can afford a Supra, but I can't afford an LFA. I love both, but would take an LFA any day of the week if I could. That doesn't mean I can go to a used Supra owner and use the LFA as a bargaining chip. And if you look at the Supra market now, it's holding steady. I still see pristine examples going for around the MSRP price back in 98.
If the Supra and LFA shared the same name and brand (just imagine both being named the Toyota Supra), I am willing to bet that prices of the old Supra will either hold or appreciate (appreciate is my personal guess) simply because of the marketing affect that the new LFA will have on the image of the name "Toyota Supra." The V10, CF technology, styling, performance, luxury and image of the LFA will become inextricably linked with the name, and will boost the demand for the old supra even if it doesn't have any of those features.
Although I don't have personal knowledge myself, I hear the 993 market is a great example too with prices holding steady over the years.
Bottom Line: The new model won't decrease interest or demand in the current or older models--and may even increase interest in them. If it doesn't affect interest or demand, it won't affect prices negatively and may even boost them.
Assumptions: The price of the new model is in the 120-150k range, which I think is a fair assumption based on the technology (hybrid powertrain), styling, exclusivity, current market and competition, etc.
Also don't forget to take exclusivity and markups into account. The NSX may enter the market with sales close to or above 200k with dealer markups.
Conclusion: Prices are going to either stay the same or appreciate with the introduction of the new model since the car is likely to be in a completely different price segment than the current cars.
Reasoning: People that can afford the new one will either buy the new one at 120-150k+, and won't cross-shop with the old models unless they specifically want the older model for nostalgia/looks/history/etc--in which case they probably won't drive the prices down with low-ball offers.
People that can't afford the new model but can afford the older models won't really have much bargaining leverage. It's not like they can say "Hey, either bring the price down 15-20k or I will go buy a new NSX".
Since the two are in different price segments with different buyers, the intro of the new model alone shouldn't affect the current model's market. Jerry Seinfeld isn't going to lowball a Mark I NSX because he can by the Mark II.
Potential Appreciation: It may drive it up by bringing new attention to the brand/car, and we may see some trickle-down marketing in effect kind of like how car companies use F1 and racing, or flagship models (like original NSX), to promote lower-priced vehicles. Ex: The general populace may not know about the NSX, but advertising during the superbowl may interest a whole new segment of people.
Examples in the market: If you want examples, look to the Toyota Supra and whether or not the LFA affected it's price. I know the comparison is a little loose as they don't share the same name or brand, and it is extreme in that the LFA is something like 10X the price of a supra, but the principle still holds: people aren't going to cross shop even if they share interest in both vehicles. I can afford a Supra, but I can't afford an LFA. I love both, but would take an LFA any day of the week if I could. That doesn't mean I can go to a used Supra owner and use the LFA as a bargaining chip. And if you look at the Supra market now, it's holding steady. I still see pristine examples going for around the MSRP price back in 98.
If the Supra and LFA shared the same name and brand (just imagine both being named the Toyota Supra), I am willing to bet that prices of the old Supra will either hold or appreciate (appreciate is my personal guess) simply because of the marketing affect that the new LFA will have on the image of the name "Toyota Supra." The V10, CF technology, styling, performance, luxury and image of the LFA will become inextricably linked with the name, and will boost the demand for the old supra even if it doesn't have any of those features.
Although I don't have personal knowledge myself, I hear the 993 market is a great example too with prices holding steady over the years.
Bottom Line: The new model won't decrease interest or demand in the current or older models--and may even increase interest in them. If it doesn't affect interest or demand, it won't affect prices negatively and may even boost them.
Assumptions: The price of the new model is in the 120-150k range, which I think is a fair assumption based on the technology (hybrid powertrain), styling, exclusivity, current market and competition, etc.
Also don't forget to take exclusivity and markups into account. The NSX may enter the market with sales close to or above 200k with dealer markups.
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Re: Change in prices with the intoduction of the new NSX
We in Europe allready have price of earlier models higher then 5 years ago when I bougt mine.Maybe in Europe people more appreciate this car.
As a used car dealer(got my own firm for 12 years)can tell (IMO) that as older Ferraris and Porsche cars will be same thing.Has got potential:Alu body,high quality engine,great drivers caracteristics,good look,cheap maintance and low production number for 15 years.
This days have nothing with real car value because of world crisis.For few years I expect car price going up.
We in Europe allready have price of earlier models higher then 5 years ago when I bougt mine.Maybe in Europe people more appreciate this car.
As a used car dealer(got my own firm for 12 years)can tell (IMO) that as older Ferraris and Porsche cars will be same thing.Has got potential:Alu body,high quality engine,great drivers caracteristics,good look,cheap maintance and low production number for 15 years.
This days have nothing with real car value because of world crisis.For few years I expect car price going up.
Re: Change in prices with the intoduction of the new NSX
This. The new NSX will have zero effect.
This. The new NSX will have zero effect.
Re: Change in prices with the intoduction of the new NSX
It will absolutely affect prices of 02+ cars if it comes in at 90k. Or perhaps even 100.
It will absolutely affect prices of 02+ cars if it comes in at 90k. Or perhaps even 100.
Re: Change in prices with the intoduction of the new NSX
I thought 130k was the confirmed rumor price?
I thought 130k was the confirmed rumor price?
Re: Change in prices with the intoduction of the new NSX
Ksxnsx very well said, for sure the price will appreciate, when the new nsx hit the market it will bring more awareness and attention to the older nsx, the high demand will drive the price up on the very low supply of older model.
Ksxnsx very well said, for sure the price will appreciate, when the new nsx hit the market it will bring more awareness and attention to the older nsx, the high demand will drive the price up on the very low supply of older model.
Re: Change in prices with the intoduction of the new NSX
I guess the only advantage to prices going up is if you are going to sell.Then what?If you own one drive it,simple.If the new one comes in at 120 ish its only 40000 difference between the new and premium 2005.The problem for me personally is i think this will draw even more attention to how remarkable the old model was/is and prices will rise before i can buy.Good if you own and are planning to sell.Bad if you don't and want to buy.Will probably be limited production #'s for new ones as well.Just my two cents.
I guess the only advantage to prices going up is if you are going to sell.Then what?If you own one drive it,simple.If the new one comes in at 120 ish its only 40000 difference between the new and premium 2005.The problem for me personally is i think this will draw even more attention to how remarkable the old model was/is and prices will rise before i can buy.Good if you own and are planning to sell.Bad if you don't and want to buy.Will probably be limited production #'s for new ones as well.Just my two cents.
Re: Change in prices with the intoduction of the new NSX
As an 05 owner....the 2 questions I get constantly from on lookers are:
What year is your NSX?
Are you thinking of buying the new one?
When I answer the first question with 2005....most are surprised and didnt think they were made that late and thought production stopped in the 90's. Then I see the wheels turning in there head like...."Hmmmm I wonder what I can pick one of these up for?"...and then they ask prices!
When I answer the 2nd question with "the new one is potentially going to be hybrid"....I get this from EVERYONE...
Followed by...NO WAY, why would you ever sell this one?....my point exactly! That's why I bought one!
I think price appreciation of 02-05 is going to depend on the final specs of the new one...every interested person who speaks with me about the new NSX just assumes that Acura coming out with a BEAST to take out the GTR....either way it doesn't matter because I'm not selling my 05!:biggrin:
As an 05 owner....the 2 questions I get constantly from on lookers are:
What year is your NSX?
Are you thinking of buying the new one?
When I answer the first question with 2005....most are surprised and didnt think they were made that late and thought production stopped in the 90's. Then I see the wheels turning in there head like...."Hmmmm I wonder what I can pick one of these up for?"...and then they ask prices!
When I answer the 2nd question with "the new one is potentially going to be hybrid"....I get this from EVERYONE...
Followed by...NO WAY, why would you ever sell this one?....my point exactly! That's why I bought one!
I think price appreciation of 02-05 is going to depend on the final specs of the new one...every interested person who speaks with me about the new NSX just assumes that Acura coming out with a BEAST to take out the GTR....either way it doesn't matter because I'm not selling my 05!:biggrin:
Re: Change in prices with the intoduction of the new NSX
LOL... What is a "confirmed rumor"?? That's pretty funny.... :biggrin:
LOL... What is a "confirmed rumor"?? That's pretty funny.... :biggrin:
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Re: Change in prices with the intoduction of the new NSX
It doesn't even have to come in with an MSRP under $100k. Give it a couple years and used ones will be selling under that amount. Look at the GTR. Here they are over $100k new and a 2 year old one goes for $75k. The GTR is a hot commodity so it should hold it's value better than most.
However, if the new car is not well recieved it may not make a difference no matter what the price is. Personally, I hate the beak on the new car and think they are wrecking the NSX with this abortion. If there are more people who think like me then the old NSX has nothing to worry about.
It doesn't even have to come in with an MSRP under $100k. Give it a couple years and used ones will be selling under that amount. Look at the GTR. Here they are over $100k new and a 2 year old one goes for $75k. The GTR is a hot commodity so it should hold it's value better than most.
However, if the new car is not well recieved it may not make a difference no matter what the price is. Personally, I hate the beak on the new car and think they are wrecking the NSX with this abortion. If there are more people who think like me then the old NSX has nothing to worry about.
Re: Change in prices with the intoduction of the new NSX
In the short run the NSX will appreciate because you can't buy a new NSX until at least when 2015? I think with options, the new NSX will be closer to $150k but that's just a guess.
The superbowl commerical and the media coverage of the new NSX has created new interest. People want to buy one now, so they have no choice but to focus on the used NSX models available. The highest values will be for 100% stock, original cars.
When the new car comes out, some buyers who can afford the new NSX will sell their old NSX to buy the new one. This will bring more NSX's to market.
Then it's simple Supply and Demand. More used ones will be available than there are buyers, selling prices of 1991-2005's will drop.
Eventually the new NSX will depreciate to half its original value (how many years this will take depends on how many they produce a year) and this will cause 1991-2005's to drop again. The New NSX will have better performance, etc. so it will always be worth more than the current NSX. How much more is anybody's guess, Maybe twice as much?
A very loose comparison would be the Honda S2000. It's hard to find a unmodified, low mileage, original S2000. If you do, you will pay top dollar. If Honda comes out with a new and improved S2000, the values on the old ones will drop.
This is just my opinion and I could be wrong but I've been buying and selling cars for almost 25 years.
In the short run the NSX will appreciate because you can't buy a new NSX until at least when 2015? I think with options, the new NSX will be closer to $150k but that's just a guess.
The superbowl commerical and the media coverage of the new NSX has created new interest. People want to buy one now, so they have no choice but to focus on the used NSX models available. The highest values will be for 100% stock, original cars.
When the new car comes out, some buyers who can afford the new NSX will sell their old NSX to buy the new one. This will bring more NSX's to market.
Then it's simple Supply and Demand. More used ones will be available than there are buyers, selling prices of 1991-2005's will drop.
Eventually the new NSX will depreciate to half its original value (how many years this will take depends on how many they produce a year) and this will cause 1991-2005's to drop again. The New NSX will have better performance, etc. so it will always be worth more than the current NSX. How much more is anybody's guess, Maybe twice as much?
A very loose comparison would be the Honda S2000. It's hard to find a unmodified, low mileage, original S2000. If you do, you will pay top dollar. If Honda comes out with a new and improved S2000, the values on the old ones will drop.
This is just my opinion and I could be wrong but I've been buying and selling cars for almost 25 years.
Re: Change in prices with the intoduction of the new NSX
With the absence of any NSX sales and marketing combined the the low visibility of the car due to the low production I believe with the introduction of the new model will create interest in the 91-05 examples. Wow that was a long sentence. That should prop up prices on nice cars.
With the absence of any NSX sales and marketing combined the the low visibility of the car due to the low production I believe with the introduction of the new model will create interest in the 91-05 examples. Wow that was a long sentence. That should prop up prices on nice cars.
Osiris_x11
Gold Member, Moderator: Marketplace
relax, money-in-the-bank...
FWIW... keep your NSX up-to-date in terms of maint'/service (as-per manufacturer specs), keep it close to OEM/stock (meaning more-or-less reversible mods), keep the history/title clean (proper repairs if applicable), and your NSX will maintain its value for years to come w/ or w/o the forthcoming '14 NSX-2.0, along the lines of:
- '91-'94 NSX 5spd. $25k - $30k
- '95-'96 NSX-T 5spd. $30k - $35k
- '97-'01 NSX-T 6spd. $37.5k - $42.5k
- '02-'05 NSX-T 6spd. $45k - $55k
But, of'course mileage/condition will be factors. Though, all-in-all depreciation has hit the bottom during most of my (second) NSX ownership period (which began in 2003). Even in 1998 when I had my first NSX for only a summer, early model-year offerings (ie. '91-'94) were $32.5k - $37.5k & in 2002 they were $27.5k-$32.5k. Pretty much where they are now...
With all that said, I hope this forthcoming '14 NSX-2.0, purported to be ~$125k+, is a 21st century motoring tech. marvel just as the ~$60k NSX back in later 1990 was a 20th century motoring tech. marvel. Each has it's place. The original NSX has encapsulated me for nearly 25 years, I hope the sequel does the same!
Oh, my point? Only the upper-tier priced '02+ NSX-T 6spd. offerings may be affected by this forthcoming '14 NSX-2.0. If anything, it can even be perceived as market-adjustment rather than the new/better superseding the older/lesser phenomenon. A ~$25k premium for a micro-mileage '02+ model over a low-mileage '02+ model may not be worth it to many, again- time will tell.
FWIW... keep your NSX up-to-date in terms of maint'/service (as-per manufacturer specs), keep it close to OEM/stock (meaning more-or-less reversible mods), keep the history/title clean (proper repairs if applicable), and your NSX will maintain its value for years to come w/ or w/o the forthcoming '14 NSX-2.0, along the lines of:
- '91-'94 NSX 5spd. $25k - $30k
- '95-'96 NSX-T 5spd. $30k - $35k
- '97-'01 NSX-T 6spd. $37.5k - $42.5k
- '02-'05 NSX-T 6spd. $45k - $55k
But, of'course mileage/condition will be factors. Though, all-in-all depreciation has hit the bottom during most of my (second) NSX ownership period (which began in 2003). Even in 1998 when I had my first NSX for only a summer, early model-year offerings (ie. '91-'94) were $32.5k - $37.5k & in 2002 they were $27.5k-$32.5k. Pretty much where they are now...
With all that said, I hope this forthcoming '14 NSX-2.0, purported to be ~$125k+, is a 21st century motoring tech. marvel just as the ~$60k NSX back in later 1990 was a 20th century motoring tech. marvel. Each has it's place. The original NSX has encapsulated me for nearly 25 years, I hope the sequel does the same!
Oh, my point? Only the upper-tier priced '02+ NSX-T 6spd. offerings may be affected by this forthcoming '14 NSX-2.0. If anything, it can even be perceived as market-adjustment rather than the new/better superseding the older/lesser phenomenon. A ~$25k premium for a micro-mileage '02+ model over a low-mileage '02+ model may not be worth it to many, again- time will tell.
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Re: Change in prices with the intoduciton of the new NSX
I just checked and NADA shows my 2003 to be valued at $67,xxx while KBB shows it to be $65,xxx. (I thought KBB was always higher?) However, I do not know if NADA's value was at dealer pricing or private party pricing. I had set my car at KBB at "private party" and car being excellent condition to get the $65,xxx. KBB Dealer pricing would put it near $70,000.
When I switched over to collector's car insurance 3 years ago, I used $65,000 as my replacement value as that was KBB's numbers for dealer pricing. So it looks like my car has gone up almost $4,500 since 3 years ago.
I also remember one site where color rarity also affected value but I forgot which company did that. Not many low mileage Imola Orange Pearl NSXs will come out on the open market these days so value should be higher.
This is the minimum amount I'd expect if my NSX is stolen or totaled. It's a number from "PROFESSIONALS" and their numbers mean a lot more to insurance companies than comments from internet blog sites.
On another note, my 1983 Porsche Cabiolet has doubled in value the past 5 years. (NADA numbers). I guess that's because my Porsche will soon reach the 30 year old age. Seems to me...that's when value of cars really start to appreciate.
I just checked and NADA shows my 2003 to be valued at $67,xxx while KBB shows it to be $65,xxx. (I thought KBB was always higher?) However, I do not know if NADA's value was at dealer pricing or private party pricing. I had set my car at KBB at "private party" and car being excellent condition to get the $65,xxx. KBB Dealer pricing would put it near $70,000.
When I switched over to collector's car insurance 3 years ago, I used $65,000 as my replacement value as that was KBB's numbers for dealer pricing. So it looks like my car has gone up almost $4,500 since 3 years ago.
I also remember one site where color rarity also affected value but I forgot which company did that. Not many low mileage Imola Orange Pearl NSXs will come out on the open market these days so value should be higher.
This is the minimum amount I'd expect if my NSX is stolen or totaled. It's a number from "PROFESSIONALS" and their numbers mean a lot more to insurance companies than comments from internet blog sites.
On another note, my 1983 Porsche Cabiolet has doubled in value the past 5 years. (NADA numbers). I guess that's because my Porsche will soon reach the 30 year old age. Seems to me...that's when value of cars really start to appreciate.
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IMO it depends on whether or not people like the new one.
Old Camaros are worth a lot more than new ones. Older Vettes are worth a lot more than new ones. 993 Porsches are on the move - generally worth more than 996s already - and a fairly narrow spread to the 997. You get the picture.
There will also always be a debate within the model years - do you want first year (original) or last year (typically most refined), popups or fixed lights? (classic Rolling Stones or their "disco" years? - you get the picture)
Personally, I think that the original popup lights version in Red (basically the original one in the Ferrari killer ads) will sell for a lot of money at some place like Barrett-Jackson in our lifetime. That said, I bought a spa yellow pearl 01 to drive it, which is what I plan to do with it.
Old Camaros are worth a lot more than new ones. Older Vettes are worth a lot more than new ones. 993 Porsches are on the move - generally worth more than 996s already - and a fairly narrow spread to the 997. You get the picture.
There will also always be a debate within the model years - do you want first year (original) or last year (typically most refined), popups or fixed lights? (classic Rolling Stones or their "disco" years? - you get the picture)
Personally, I think that the original popup lights version in Red (basically the original one in the Ferrari killer ads) will sell for a lot of money at some place like Barrett-Jackson in our lifetime. That said, I bought a spa yellow pearl 01 to drive it, which is what I plan to do with it.
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