Low mileage LBBP

[NsXMas]

Tell me someone didn't get a car for 10-15K below market value:

http://www.nsxprime.com/forum/showt...tock-LBBlue-Camel-JH4NA21674T000131-22K-Miles

I emailed and tried to tell the guy he's a little low and even offered to buy but no reply ever came.

The problem with that listing is it will be a permanent record of a sweet NSX sold for such a low price. And when others try to sell, buyers will point to that ad and say "see, that LBBP NSX sold only for $68k!"... and it might deflate NSX values a little bit as an oddball low price sale.

When I was getting new insurance for my NSXs, the insurance company wanted to insure my 91 NSX at $26k, and my 97 MCB NSX at $40k agreed value. I almost laughed in their face... They said these were "average NADA values".... low being $23k for 91 NSX, and $37k for the 97 NSX... I whispered "Are you high??".

I had to provide proof of purchase showing my purchase price for both were considerably higher, and they finally agreed with my valuation.

And when I went to the DMV to get my 97 NSX registered, the DMV guy said "collector's insurance for a '97 Acura, really?".... LOL I showed him a picture of my 97 NSX and then he understood why. He had never seen or heard of NSX before, and he works at the DMV!!

Crazy world!!

 

[TURBO2GO]

Yes, those low selling prices absolutely affect the market because only a handful of 2005 NSX's sell in a year in the country. Book values are affected by those numbers, which then sets some of the asking prices, etc. That lowball price affects everyone. I wonder who sold or bought the car. Neither has chimed in on the post.

 

[01a4man]

Wow,

I just checked KBB on mine and it says $82k for private sale and $84 for dealer trade.

NADA shows a range of $56k for low, $65k for average, and $76k for high retail value.

Interesting...

 

[TURBO2GO]

NADA is too low

 

[Sean Firth]

NADA is too low

I completely agree. I find the Hagerty valuation tool to be fairly accurate.

https://www.hagerty.com/valuationtools/HVT/VehicleSearch
That's the american valuation tool.

https://www.hagerty.ca/valuationtools/HVT/VehicleSearch
Here's the Canadian valuation tool.

Either way, it appears that our cars are appreciating, regardless of year.

 

[tof]

Only problem I have with the Hagerty valuation tool is the small sample size. As a result you get anomalies like the value on a condition 3 '99 going from $37K to $59K in the last five years. Meanwhile the nearly identical condition 3 2001 model moves from $45K to $54K. So the '99 went up 60% while a comparable 2001 has risen only 31% in the same five year span? And the '99 is worth five grand more right now? Those numbers are just too wacky to look at as reliable sources of value. Approximations, maybe, but very rough approximations at best in some cases. With such a small population, one outlier can really throw the averages off. No where is this more true than in the collector car market. This might be an extreme example, or maybe not. Either way it took about one minute to find this weirdness on the Hagerty web site.

I have some sympathy for insurance adjusters and appraisers who have to make sense of a crazy market. That's why, for me at least, agreed value insurance makes way more sense in this environment.