The rising price of NA MX5s...

[ralt]

Hi.
Who cares.

[llmoose]

Hi.
Who cares.

[93_Clubman]

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?
Not if seller is arriving at their selling price based on less supply.

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...
Depends how motivated a seller they are.

Why would the average asking price have gone up over $1k if the market is not rising?
Depends on your definition of a rising market.

Are you saying that people are asking more money but still accepting the same therefore just offering bigger discounts?
Could be - depends how much a part their ego plays & how motivated they are.

But ultimately, one is not a trend. However, it's interesting & worth monitoring by those with an interest.

[project.r.racing]

Maybe the thread could be renamed "The rising "asking" price of MX5s?"

The data that would be interesting is the price they are selling for. Not what sellers are asking for them. Can you get that data?

[Mr Morlock]

I doubt there is any reliable data on the value of NA's. The professionals in the field like Glass Guide only report value of vehicles over 10 years and some vehicles even in that period may not be reported because of minimal sales. Enthusiasts or any buyer looking for certain vehicles pick up values merely by looking at asking prices over a period of time. Its obvious that many NA's with KM over 200000 and often modified and knocked around are selling under $5000. HKS I think has a good point that at least in Victoria enthusiasts would be attracted to good quality low KM NA's meeting the 25 rule for Club plates but that only applies on one State.

[gslender]

Regardless of everyone's opinion (including mine) if the item becomes rare, then it will command a higher price. If you want a good condition NA6 that isn't messed with and altered from factory they simply are bloody hard to find. End of story.

[project.r.racing]

Its obvious that many NA's with KM over 200000 and often modified and knocked around are selling under $5000.

You mean under $3000.

[aladdin96]

I find NA Mx5s with 200,000km not a problem as a car would average 20,000km a year. I have a 89 with 200,000kms and it runs better then some low km mx5s ive dríven. Its all about taking care or it and servicing. i bought mine from the middle of nowhere and the only way to get to town was to hit the freeway for about 40mins. So my mx5 had highway driving most of its life.

To the topic of price rising. They are kinda rising and then stopping and repeat. But i believe its gonna be probably better than the mgb. People say that because people didnt modify the mgb. But the beauty of the mx5 is its simplicity and amazing platform for mods. Every mx5 has had mods to it. There is more demand to buy one. Turboed mx5s for god sake are selling 10000 $$$ plus. I cant wait to do mine. . But however this is my opinion. Dont be turned off by kms.

Sent from my GT-I9506 using Tapatalk

[gslender]

As a practical example of how rare they are....

In Queensland as of right now, there are only three (3) NAs for sale on Carsales.com that have under 200,000klms and made up till 97 (so getting all the NAs that exist from 1.6 through to 1.8 models).

1 of them is a 2F race car, so not really counted (and wants $12K).

Of the remaining two for sale, one is a Eunos import and has 187K on the dial, the other has 118K but isn't really forthcoming on pics or details. Both are 1.6 engines.

Both are asking north of $8K for them at this time and both seem to be modified and no longer original (just a guess but they don't look that standard).

Oh, and there are two (2) Ford Capri's available for the same years and slightly lower klms... they're asking $5 or nearest offer, and they look in mint condition !!

So when you go shopping and decide, yeah, I think I will buy one of those older first model MX5s in good condition - you've not got a lot of options. So that limited edition model that has only 135,000 and is in great original condition, it makes you think perhaps you'd best just pay what's being asked.... there isn't a lot of other options.

[Mr Morlock]

The history and values of MGB's are on the record. A good MGB probably not a rubber bumper model bring at least $25K and restoring one costs more- probably restoring anything properly costs more than vehicles might be worth- granted exceptions. Healey TR's can often make more money esp things like TR5's . MX5s are dríven and appreciated by the older brigade- the MG Club in Vic has plenty of MX5s being used more frequently than the B's or A's. An MX5 NA I think would struggle to get past $10K though maybe a extraordinary example may bring more. Its also unlikely that anyone is actually going to really make money on them. The actual capabilities of MX5s are exceptional but thats not what makes a vehicle collectable. I recently read an article which virtually said that an MGB was actually a more comfortable car to tour around UK than an E type and the price differential is easily 3 to 4 times- one motoring writers view.

The quickest way to destroy a value of a car is to do mods that are not universally accepted by the car community. Many MGBs are modded ( and the same applies for TR;s Healeys and the like) - but usually tastefully like warmed over engines and electronic ignitions and brake upgrades not wings, ugly wheels- in keeping alloy wheels of the period replacing spokes is widely accepted- and extreme colour schemes detract from a Classic. .. Modding cars in the 60's was more common than today because vehicles were so basic and wanting. An MX5 was never really crying out for major mods. Many of the turbo additions are not even legal nor insured and anyone buying an 89 NA and expecting it to qualify for club registration are going to find its a bridge too far.

Its probably no bad thing that MX5s are still affordable for almost anyone but the Classics of past decades are often the same price as a new car.

PS for Slender- I agree- pay more for a low KM NA in good condition if thats what it takes to snare a vehicle that you might want to keep for the longer haul. There are undoubtedly very low KM NA's in the community i.e. cars well under 50K but often never offered thru Carsales.

[Guran]

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

I am certainly interested in your post. Thank you! I have been regularly watching MX-5 sales ads on Carsales for the last six years and your data aligns with my general observations. Supply of NAs is falling steadily and prices are holding up, especially for those with very low kms and original condition.

BTW the behavior you have observed in this thread is a major factor in why I rarely post on the forum anymore. I don't have the time or energy to waste on all the bitching and negative posts.

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

I don't think the ND will have any direct impact on NA prices. But as the years continue to pass, the rarity of unmolested low km NAs increases, and it will inevitably drive up the prices. The club rego option in Victoria may also create more demand.

[chops]

quality low km early build NA's with history are without doubt on the rise. Original and unmolested is incredibly hard to find. There was a totally original Mariner blue 50km with complete history and the guy had a line of people willing to give him $15k

[93_Clubman]

There was a totally original Mariner blue 50km with complete history and the guy had a line of people willing to give him $15k

There's a good chance it cost him more than that. It was certainly the case with an original 36k km white NA6 advertised on here & elsewhere. Point is that those sort of NAs have always attracted a premium price, but that premium price has been going down. At some point it will likely increase, but from a low base.

[project.r.racing]

People posting disagreeance with the raw data does not make their posts bitchy or negative. The over-defensive reaction to their disageeance could be viewed as such. What entails from there is ones own making. Seems though, if looking for discussion, then only agreeance was allowed in this case.

There are some fine example out there that car commanding good prices. But their is rubbish out there also that can be had for $3K or less. Collecting raw data from only one avenue does no show the boarder picture of what is happening in the real world.

[JBT]

Someone contacted me today -selling a 1990 NA in very good condition with 194,000km and asking $6250 ono. It looks pretty original from the photo that was sent.