Are NA prices starting to bottom out ?

[Tezzax5]

With the first generation MX-5 becoming 25 years old and some of the larger USA auction houses talking about them becoming classics i thought a few people may get a laugh on the dollar values that unique cars and parts dot com dot au here in Australia have started putting on original examples in their valuation price guide...

Highest price represents concourse condition.

MX5 ROADSTER 1989-90 $4,500 $12,000 $18,500

MX5 LIMITED 1990-91 I/D $15,000 $22,500

MX5 ROADSTER 1991-92 $4,800 $12,700 $19,500

MX5 ROADSTER 1993-94 $6,500 $16,000 $23,500

MX5 ROADSTER 1995-97 $9,000 $19,000 $27,500

Funny thing is when you use the guide to price MG's,etc their valuations have not changed much in recent times..

It makes all the SE's , SP's and NC's look like absolute bargains.

Perhaps Unique need to put down their bongs ?

[manga_blue]

Not very realistic, are they? But NA prices are bottoming out a bit. NA6s are still cheap but good NA8s are fetching more than good NB8As and often more than NB8Bs these days

[bruce]

If there was a bar of gold in the boot of those cars = yes, the prices are realistic.

[M1474]

Realistic for Malbu Gold only.

[rodsmx5]

And mega bright orange ones!

[Vat]

It'd be interesting to see the market dynamics at play. Someone buying an NA is most likely an "enthusiast" and as such probably willing to pay a premium for a good one, with the bulk of the remainder subject to the vagaries that 20+ year old cars are (some restored, some kept running, some wrecked). I wonder if that's distorting the figures being reported.

I'd guess there's a 'mainstream' of 'non-core enthusiasts' that like the concept of an MX-5 but aren't prepared to buy a car older than 10-12 years old and can't afford/don't want a new one that's probably holding up the values of the latter NBs relatively speaking. When they move on (which I'd guess they have from the early NBs) those values tend to slump, and then stabilise as the crap ones die and the 'enthusiast group' move in.

Just a few thoughts.

[gslender]

Well, considering there is rarely a low klms good condition Limited Edition 1991 models available for sale, eventually the price has to go up - saying they're worth $15,000 in good condition seems high, and $22,500 for concourse seems amazing, but again, if you found one with only 5,000 klms or less and in show room condition - how rare would that be? With all the original factory limited edition books, plaques and dealer paperwork ?? I mean that has to be a rare find !!

G

[Steampunk]

As you well know Tez, as much as I'm enchanted with the NA8, I seriously doubt we will see prices like those until we're both racing mobility scooters to the local chemist, but I have noticed that NA prices are plateauing, the "unloved" NB8A are on par with good NA6's, and other models depreciating rapidly.

Gosh how I miss my Rosanna.... but can you imagine being in the shoes of someone owning a minty Clubman way-back-when then deciding to sell it for an apparently superior model NB with an artificially-aspirated engine? What a mistake that turned out to be eh?
Can you just imagine?
..... oh... hang-on...

[bootz]

I think that there will always be a bit of confusion over the issue because of the unique development of the mx-5. The NA6 is not considered special enough compared to the NA8 clubman, SE and SP variants

It probably is akin to the mustang where the original was seen as less special than the later muscle car developments. It is only relatively recently that the 64-66 is truly being appreciated for it being an original classic. Still it lags in value compared to Shelbys, Boss and Bullit variants.

[gslender]

Depends on the marque because same can't be said about Fiat 124 or MGB where the first models are easily more sought after by collectors as they are the purest, first and most aligned to the original intention of the manufacture. The later models became less desirable even though they were stronger, more powerful and better equipped.


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[Tezzax5]

.

Gosh how I miss my Rosanna.... but can you imagine being in the shoes of someone owning a minty Clubman way-back-when then deciding to sell it for an apparently superior model NB with an artificially-aspirated engine? What a mistake that turned out to be eh?
Can you just imagine?
..... oh... hang-on...

Nope... Don't miss it one little bit. It was too nice a car that you would take to the shops etc.

Meh.. The SP just looks like an older model MX-5 without being showy

Count myself lucky to have owned the what i consider the best of breeds,Clubman,SP and a NC with recarro's for daily duties.

Give you one guess which one i'm going to keep out of the NC and the SP when i finish work eventually ?.

On a slightly different tack i also read today in one the Uk papers that they have noticed increases as well...

[Mr Morlock]

Wheels Dec 1997. "Behind the Wheel" Thos L Bryant. last para on the new NB "The new MX5 is a better car to drive thanks to a little more power, a little more tautness, a little more sporting touch and a little more this and that inside and out. It;s a risky business to make changes to an icon such as the MX-5, but Mazda has done it with intelligence and style".

We know the values in the first post are a bit silly but it does not taken anything away from a genuinely special sports car- a car for enthusiasts and those weened on its predecessors. Making money on MX5s- I do not think it will happen but thats not the point. The point is enjoying the car and it will not cost a bomb like so many of the Euro offerings. If you buy a good MGB- now up to 50 odd years old it will not cost much more than $25K and many less - how do you make money on that- you don't.

[93_Clubman]

They're Dreamin'.

Currently Condition 1 cars are achieving Condition 2 car prices, & Condition 2 cars are achieving Condition 3 car prices. And Condition 3 cars are achieving below Condition 3 car prices.

Worth noting that it's 'Unique Cars & Parts' website being referenced here & not the well known 'Unique Cars' magazine.

Also worth noting the detail of the three levels of condition against the values they quote:

"CONDITION 3
BODYWORK: Moderate rust is inevitable, although chassis firewall and other structural areas should be sound. Minor body damage is common. Paint is likely to be faded with uneven colour. Body filler usually found in panels but unacceptable in structural areas. Bright work should be basically complete and major components like the grille must be fitted. Re-chroming or polishing of most parts will be required.

INTERIOR: Seats need to be structurally sound but will normally need recovering. Floor coverings are likely to be damaged or missing. Door-trims should be fitted but may need replacement. Vinyl dash tops usually cracked or warped.

ENGINE BAY: Engine should run but work will be needed. Engine bay is likely to be dirty and oil-stained. Hoses and fuel lines may need replacement for vehicle to be reliable.

UNDERBODY: Will show signs of neglect and damage (dents, stone damage etc) but should be free of major rust. Chassis/structural members need to be straight. Suspension components and exhaust will usually need replacement.

WHEELS/TYRES: Wheels should be free of major damage, tyres will normally need replacement.

CONDITION 2
BODYWORK: No serious rust or large areas of body filler evident. Minor bubbling in non-structural areas is permissible. Paint should be good-quality but may show evidence of repairs, chips and scratches. Bright work should be generally good, although areas of dulled or scratched chrome are likely.

INTERIOR: Seats may have been recovered but should be in good general condition. If trim is original, areas of wear and broken stitching are likely. Floor-covering should be complete. Carpets and hood lining should preferably be in the original pattern. Cleaning may be required.

ENGINE BAY: Engine should be of original type although original motor is unlikely. No major fluid leaks or discolouration. Cleaning will be required.

UNDERBODY: No serious damage however scrapes and chipping likely. Minor oil leaks are common, exhaust should be complete and free from holes or burning around joints. Suspension components such as king-pins, ball joints and shock absorbers need to be in roadworthy condition.

WHEELS & TYRES: Wheels should be original or legal-size after-market units. Tyres should have legal tread depth.

CONDITION 1
BODYWORK: Should be free of dents, rust or obvious repairs. Minor stone chips are permissible although major blemishes or mismatched paintwork is not. Bright work must be complete and basically undamaged.

INTERIOR: Seats should be covered in original-pattern material, free of rips or other damage. The floor covering must be complete, clean and correct material. The headlining should be clean and the dash - especially where timber or veneer used - free of cracks or discolouration.

ENGINE BAY: Should be clean with no discolouration due to water, oil or battery leaks. No engine or fuel system leaks. The correct engine or one which was optional to the model should be fitted. Original components are a must if the car is to be upgraded to 'concourse' standard.

UNDERBODY: No dents or damage to the underseal, exhaust system complete and undamaged, no oil leaks from the differential, transmission or shock absorbers. Suspension components should be in good order.

WHEELS/TYRES: Original wheels with correct hubcaps or after-market wheels in keeping with vehicle style and age should be fitted. Tyres need to be correct size and speed rating with at least 50% of original tread depth."

[gslender]

They're Dreamin'.

Currently Condition 1 cars are achieving Condition 2 car prices, & Condition 2 cars are achieving Condition 3 car prices. And Condition 3 cars are achieving below Condition 3 car prices.

I'm not as convinced - show me a Condition 1 car - 1991 Limited Edition BRG green (be careful to ensure it really, really is as they are stating - ie interior with zero defects and 100% original and working) and show me it being available for sale at around $15,000 or less. I've never seen one and don't own one either (mine would be condition 2).

All of the ones I've seen for sale or in the flesh either have leather seats with defects, scratches on the limited gear knob, a non-working or missing radio etc.... not including the condition of the body or engine etc...

Happy to be wrong, but I think the condition of vehicles they are talking about and what you think they are talking about is different.

G

[93_Clubman]

I think the condition of vehicles they are talking about and what you think they are talking about is different.

Fortunately don't have to interpret what they think is a Condition 1 vehicle as they provide their definition on their website:
http://www.mx5club.com.au/price_guide.htm
ie the following:

"CONDITION 1
BODYWORK: Should be free of dents, rust or obvious repairs. Minor stone chips are permissible although major blemishes or mismatched paintwork is not. Bright work must be complete and basically undamaged.

INTERIOR: Seats should be covered in original-pattern material, free of rips or other damage. The floor covering must be complete, clean and correct material. The headlining should be clean and the dash - especially where timber or veneer used - free of cracks or discolouration.

ENGINE BAY: Should be clean with no discolouration due to water, oil or battery leaks. No engine or fuel system leaks. The correct engine or one which was optional to the model should be fitted. Original components are a must if the car is to be upgraded to 'concourse' standard.

UNDERBODY: No dents or damage to the underseal, exhaust system complete and undamaged, no oil leaks from the differential, transmission or shock absorbers. Suspension components should be in good order.

WHEELS/TYRES: Original wheels with correct hubcaps or after-market wheels in keeping with vehicle style and age should be fitted. Tyres need to be correct size and speed rating with at least 50% of original tread depth."