The "What is my car worth?" thread
06-15-2016, 06:39 AM
#1
Thread Starter
The "What is my car worth?" thread
Hello all.
First of all, I just want to say that these are my opinions as a fairly long time S2000 owner (AP1 x2 and AP2 x1) and someone who likes to look at the markets often. If you disagree, that is cool with me. I try my best to stay impartial as an S2000 owner can be, and try and make as much sense as I can.
Now, a few points that I base my thinking on:
- The prices for S2000s are going up, not down. These are now considered collector cars. (Sorry buyers, but you need to deal with it)
- Condition trumps all, and is the main factor for a strong price.
- All OEM is the next best thing for a strong price.
- Lower mileage indicates a car that has been stored during winter. A huge plus given our salty roads.
- Aftermarket parts will usually deter buyers (especially older people, generally) unless extremely tasteful or reversible, or unless the buyer happens to like the way it sits. Forced induction generally adds value to the right buyer.
- Many buyers consider drilled trunks, rolled fenders and other body mods a huge negative as they are not reversible.
- Salvage/rebuilt title is the worst possible scenario to have on the cars value, as some insurance companies will not even insure.
That said, every buyer and seller are unique. They say things are worth what someone will pay, and that is true to a point. It's just that having a car that is factory fresh will appeal to the most buyers.
I see current prices like this:
2000 - 2003 (AP1)
- Outstanding condition, low mileage and all original - $22,000 - $25,000
- Good condition, 100,000km range, mostly original - $18,000 - $21,000
- Fair condition, $170,000km+ - $15,000 - $17,000
- Rebuilt, $10,000
2004 - 2009 (AP2)
- Outstanding condition, low mileage and all original - $26,000 - $32,000 (MY09 $35,000 - $37,000)
- Good condition, 100,000km range, mostly original - $20,000 - $25,000
- Fair condition, $170,000km+ - $17,000 - $20,000
- Rebuilt, $11,000
The rarer colours or favorite colours combos usually add a bit of value to the right buyer as well. Such as:
- Imola Orange +++
- Grand Prix White ++ (Red interior+) (My favorite)
- Premium White Pearl ++
- Laguna Blue Pearl +
Colours that do not so well are usually:
- Rio Yellow Pearl - (I happen to like Rio Yellow)
- Suzuka Blue Pearl -
Everything else is pretty neutral colour wise. Safe choices are New Formula Red, Berlina Black or Silverstone.
** If you have a CR model, the sky is the limit. HOLD ON TO IT **
That is how I see it. Now, not everyone is aware of the market value of these cars going up, and some dealers may be slow to catch on, so if you are looking for a S2000 and can get them cheaper than listed above, after ensuring the condition of the car, I would say you did well.
P.S. If you can get any decent condition manual NSX for under $45,000 buy it right away!
Hope this helps some people. Of course feel free to disagree or comment below.
First of all, I just want to say that these are my opinions as a fairly long time S2000 owner (AP1 x2 and AP2 x1) and someone who likes to look at the markets often. If you disagree, that is cool with me. I try my best to stay impartial as an S2000 owner can be, and try and make as much sense as I can.
Now, a few points that I base my thinking on:
- The prices for S2000s are going up, not down. These are now considered collector cars. (Sorry buyers, but you need to deal with it)
- Condition trumps all, and is the main factor for a strong price.
- All OEM is the next best thing for a strong price.
- Lower mileage indicates a car that has been stored during winter. A huge plus given our salty roads.
- Aftermarket parts will usually deter buyers (especially older people, generally) unless extremely tasteful or reversible, or unless the buyer happens to like the way it sits. Forced induction generally adds value to the right buyer.
- Many buyers consider drilled trunks, rolled fenders and other body mods a huge negative as they are not reversible.
- Salvage/rebuilt title is the worst possible scenario to have on the cars value, as some insurance companies will not even insure.
That said, every buyer and seller are unique. They say things are worth what someone will pay, and that is true to a point. It's just that having a car that is factory fresh will appeal to the most buyers.
I see current prices like this:
2000 - 2003 (AP1)
- Outstanding condition, low mileage and all original - $22,000 - $25,000
- Good condition, 100,000km range, mostly original - $18,000 - $21,000
- Fair condition, $170,000km+ - $15,000 - $17,000
- Rebuilt, $10,000
2004 - 2009 (AP2)
- Outstanding condition, low mileage and all original - $26,000 - $32,000 (MY09 $35,000 - $37,000)
- Good condition, 100,000km range, mostly original - $20,000 - $25,000
- Fair condition, $170,000km+ - $17,000 - $20,000
- Rebuilt, $11,000
The rarer colours or favorite colours combos usually add a bit of value to the right buyer as well. Such as:
- Imola Orange +++
- Grand Prix White ++ (Red interior+) (My favorite)
- Premium White Pearl ++
- Laguna Blue Pearl +
Colours that do not so well are usually:
- Rio Yellow Pearl - (I happen to like Rio Yellow)
- Suzuka Blue Pearl -
Everything else is pretty neutral colour wise. Safe choices are New Formula Red, Berlina Black or Silverstone.
** If you have a CR model, the sky is the limit. HOLD ON TO IT **
That is how I see it. Now, not everyone is aware of the market value of these cars going up, and some dealers may be slow to catch on, so if you are looking for a S2000 and can get them cheaper than listed above, after ensuring the condition of the car, I would say you did well.
P.S. If you can get any decent condition manual NSX for under $45,000 buy it right away!
Hope this helps some people. Of course feel free to disagree or comment below.
06-15-2016, 06:54 AM
#2
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i think you're spot on.
I sold my prior 2009 Chicanne with i think 40k km (never seen rain/winter/etc) all original for $35k last summer.
I know I cannot buy this car today for this money. If I could ... I would.
I sold my prior 2009 Chicanne with i think 40k km (never seen rain/winter/etc) all original for $35k last summer.
I know I cannot buy this car today for this money. If I could ... I would.
06-15-2016, 07:18 AM
#3
Jim
06-15-2016, 08:28 AM
#5
Perfect summary. Should be stickied.
I purchased my 2004 Rio Yellow with just about 68,000kms for $25,000 - all OEM, only defect was tiny hole in the rag top which the owner patched up at his cost (good guy - he advertised perfect top condition and when I found the hole, he took it to a restoration place who did a very good job patching it up).
My car is going nowhere.
I purchased my 2004 Rio Yellow with just about 68,000kms for $25,000 - all OEM, only defect was tiny hole in the rag top which the owner patched up at his cost (good guy - he advertised perfect top condition and when I found the hole, he took it to a restoration place who did a very good job patching it up).
My car is going nowhere.
06-15-2016, 08:52 AM
#6
Would agree for the most part.
Only thing is that these prices are more "fair market value" prices rather than actual.
The market in Ontario is a whole lot different than anywhere else, which is something to consider.
Most 100k mileage 06-09 AP2's seem to go for over 24k if they are pretty stock with no to little history (in terms of claims, coming from US, etc).
I remember last month I saw an 08 with 80k KM going for 35k and an 06 with 110k asking for 28k.
Most I could see them accepting would probably be 2 grand less than asking.
Secondary would be the color comment.
As a buyer, I would expect to pay more for a mint Rio Yellow / Suzuka Blue as compared to a SSM or BB simply because of the amount that is / has been on the market. Personally if my car was SSM instead of RYP and I sold it today, I would more than likely sell for 1-2k less knowing there are 8 other SSM's for the buyer to compare to.
Only thing is that these prices are more "fair market value" prices rather than actual.
The market in Ontario is a whole lot different than anywhere else, which is something to consider.
Most 100k mileage 06-09 AP2's seem to go for over 24k if they are pretty stock with no to little history (in terms of claims, coming from US, etc).
I remember last month I saw an 08 with 80k KM going for 35k and an 06 with 110k asking for 28k.
Most I could see them accepting would probably be 2 grand less than asking.
Secondary would be the color comment.
As a buyer, I would expect to pay more for a mint Rio Yellow / Suzuka Blue as compared to a SSM or BB simply because of the amount that is / has been on the market. Personally if my car was SSM instead of RYP and I sold it today, I would more than likely sell for 1-2k less knowing there are 8 other SSM's for the buyer to compare to.
06-15-2016, 09:21 AM
#7
Thread Starter
I wrote this with our Southern Ontario market in mind, and its just my opinion after all. I assume "actual" value means book value? The thing is, book value cannot determine the value of collector cars only everyday cars (and even then I am not sure... Book value says my Civic is worth $0 lol) as collector car value is a grey area that moves quickly and is off government radar. So yes, this is about our private market value.
As far as colour goes, its all subjective of course. It was based on a general pattern I noticed over the years. People will pay more for what they want, hence the more popular colours demanding a premium if the demand is not there, and if the colour is popular, they would be bought up hence being more rare. I know a lot of people who will avoid Rio and Suzuka no matter the condition (I like those colours, just not my favorite). That's just my experience, and again, not by any means an objective statement. There is probably a poll on S2KI somewhere.
As far as colour goes, its all subjective of course. It was based on a general pattern I noticed over the years. People will pay more for what they want, hence the more popular colours demanding a premium if the demand is not there, and if the colour is popular, they would be bought up hence being more rare. I know a lot of people who will avoid Rio and Suzuka no matter the condition (I like those colours, just not my favorite). That's just my experience, and again, not by any means an objective statement. There is probably a poll on S2KI somewhere.
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06-15-2016, 09:54 AM
#8
I'd say it's pretty accurate, but also to a certain extent like you said. If someone wants something bad enough they will pay more then the going rate. I can't say I'll hold onto mine forever though. It was a car I always wanted and having owned one cured the satisfaction but I'll probably sell it in a few years to make way for another car on my list
06-15-2016, 11:44 AM
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Long time lurker, but new to the forum. I agree with your valuations. As a buyer, it is very difficult to find clean cars (if anyone has any leads to a clean car please message me). I feel the values will increase at a modest rate with time. The only curve ball might be the new model that will be coming out in 2018. I'm interested in people's opinion what will happen to s2000 values when the replacement is released.
06-15-2016, 11:53 AM
#10
Long time lurker, but new to the forum. I agree with your valuations. As a buyer, it is very difficult to find clean cars (if anyone has any leads to a clean car please message me). I feel the values will increase at a modest rate with time. The only curve ball might be the new model that will be coming out in 2018. I'm interested in people's opinion what will happen to s2000 values when the replacement is released.
