The rising price of NA MX5s...

project.r.racing · Postby **project.r.racing** » Thu Jun 25, 2015 8:12 pm

Sounds like a real estate agent telling me this data of mean house prices in my area. I see X, they tell me X + $50K.

llmoose · Postby **llmoose** » Thu Jun 25, 2015 8:17 pm

It is raw data. I thought the community would be interested to know but strangely people are being bitchy instead of creating discussion.

So does anyone think the market will plateau come the new model or continue to rise?

The American · Postby **The American** » Thu Jun 25, 2015 8:24 pm

you can still buy a Sunbird for nearly nothing...

Mr Morlock · Postby **Mr Morlock** » Thu Jun 25, 2015 9:42 pm

No one is going to get rich waiting for older MX5s to appreciate. I don't think value is going up but rather down- if there is a bit of a kick up on early NAs it's still small beer.

KevGoat · Postby **KevGoat** » Thu Jun 25, 2015 9:56 pm

The American wrote:you can still buy a Sunbird for nearly nothing...

Afraid to admit this ... owned one when I got married .... :oops:

Blesif · Postby **Blesif** » Thu Jun 25, 2015 10:33 pm

KevGoat wrote:
The American wrote:you can still buy a Sunbird for nearly nothing...

Afraid to admit this ... owned one when I got married ....

The amazing thing about that picture is that we had the exact same camp stove and gas bottle and used to set it up on a card table as shown. Didn't stoop to a Sunbird .... we had a '65 Falcon, OMG.

JBT · Postby **JBT** » Fri Jun 26, 2015 8:30 am

Blesif wrote:... we had a '65 Falcon, OMG.

...ours was one of these...and in this colour scheme. :shock:

hks_kansei · Postby **hks_kansei** » Fri Jun 26, 2015 10:20 am

Mr Morlock wrote:No one is going to get rich waiting for older MX5s to appreciate. I don't think value is going up but rather down- if there is a bit of a kick up on early NAs it's still small beer.

I agree that the MX5 won't be making anybody the next millionaire, and to be honest I have my doubts as to if it will ever be a "classic" and end up in the same boat as MGBs etc are today.

However, the value of the earliest NAs does seem to have stagnated from what I've seen coming up for sale. The prices don't seem to be going up, but they do seem to have stopped (or dramatically slowed) the drop.

Mr Morlock · Postby **Mr Morlock** » Fri Jun 26, 2015 11:05 am

JBT's Squire would be a rarebird today not a Sunbird and people would queue for it. What a great classic that Ford would make for cruising around to car shows and stacks of room for the sandwiches and snowballs. For those that don't know the Sunbird was probably a brave move by Holden but not a good product. Today the ecoboost for the Falcon etc is by all accounts a fabulous engine but too late.

Blesif · Postby **Blesif** » Fri Jun 26, 2015 11:24 am

An immaculate and original NA will increase in value i.e. they have bottomed out. Case in point: friends have a 1991 red NA with hardtop and aircon but no power steer. Its immaculate. Always garaged, regularly serviced, only done 130K. Had it for years. 18 months ago they toyed with selling it and were advised of a figure but didn't do anything. Recently again thought about selling and discovered it had increased in value $1,000 - 1,500. Decision is now to continue hanging on as it is reliable and isn't suffering depreciation. You won't get rich but it sure beats losing.

93_Clubman · Postby **93_Clubman** » Fri Jun 26, 2015 12:17 pm

llmoose wrote:So does anyone think the market will plateau come the new model or continue to rise?

You seem to be ruling out that it could equally fall back to where it was due to the reported (by you based on Carsales data) increase, which is in part at least, seasonal, & I would add an unrealised increase, ie asking price versus selling price.

93_Clubman · Postby **93_Clubman** » Fri Jun 26, 2015 12:22 pm

KevGoat wrote:

A mate from high school bought a lime green Sunbird as his fourth or fifth car - it even came with the original pop-up tent which attached to the rasied hatch back.

llmoose · Postby **llmoose** » Fri Jun 26, 2015 9:05 pm

93_Clubman wrote:
llmoose wrote:So does anyone think the market will plateau come the new model or continue to rise?

You seem to be ruling out that it could equally fall back to where it was due to the reported (by you based on Carsales data) increase, which is in part at least, seasonal, & I would add an unrealised increase, ie asking price versus selling price.

Whilst I can appreciate winter brings out less MX5's the simple fact that it is winter would balance out any percieved seasonal change, no?

Also the data I am comparing is simply asking price (the lowest price before the car was removed and marked as sold) on both old and new data therefore the asking price is still going up. If they weren't selling at a higher asking price then the market would surely shift...

The number of days it takes a car to be removed and marked as sold has also decreased. Right now there is a 40 day supply of NA MX5s on the market.

JBT · Postby **JBT** » Fri Jun 26, 2015 9:24 pm

llmoose wrote:....therefore the asking price is still going up. If they weren't selling at a higher asking price then the market would surely shift...

You can ask what you like - whether you get it or not depends on a heap of factors. The market will determine what it is worth - and that may not be it's value...

llmoose · Postby **llmoose** » Fri Jun 26, 2015 9:36 pm

JBT wrote:
llmoose wrote:....therefore the asking price is still going up. If they weren't selling at a higher asking price then the market would surely shift...

You can ask what you like - whether you get it or not depends on a heap of factors. The market will determine what it is worth - and that may not be it's value...

Why would the average asking price have gone up over $1k if the market is not rising?

A very small percentage of people remove their cars from carsales without them being sold. Regardless of whether the average discount is 5% or 30% the difference in asking price would not change.

Are you saying that people are asking more money but still accepting the same therefore just offering bigger discounts?