[All] [Generic] our car prices...

Discussion and technical advice the SW20 MR2. 3S-GTE, 3S-GE, 3S-FE etc
Anything and everything to do with maintenance, modifications and electrical is in here for the Mk2.

Moderators: IMOC Moderators, IMOC Committee Members

paul_4xxxx

[All] [Generic] our car prices...

Post by paul_4xxxx »

i am seeing a lot of cars on pistonheads going for a lot less than i think they should be going for...

and just seen 1 1992 turbo for 5 grand

dont you all think that us lot on mr2 owners clubs should be controling the market for mr2s?

i for 1, am asking 6k for my 1997 uk spec t-bar... because i think, its better value for money than any import because of the extras and being cheaper to insure... and hopefully somebody who is after a decent mr2 thats cheap to insure will go for mine..

whats everyones opinions on this?
Joey
Posts: 1261
Joined: Tue Dec 14, 2004 11:17 am
Location: N.Ireland

Re: [All] [Generic] our car prices...

Post by Joey »

6k for a 97 uk car :shock: no chance unless you find some idiot that's been let out for the weekend. And what extras are you referring to?
mr2nut123
Posts: 2998
Joined: Sun Dec 19, 2004 12:53 pm
Location: Leeds

Re: [All] [Generic] our car prices...

Post by mr2nut123 »

Joey wrote:6k for a 97 uk car :shock: no chance unless you find some idiot that's been let out for the weekend. And what extras are you referring to?


Hes right, its this kind of attitude and people selling with 'desperate' prices to pay debt etc. that are bringing the mr2 resale down. It's shocking
paul_4xxxx

Re: [All] [Generic] our car prices...

Post by paul_4xxxx »

well not extras as such...

i think 6grand is a good price for my car... its more or less been totaly reconditioned,

full re-spray coz the car is 10 years old and was showing its age, new dampers, springs, 4 new brake calipers, brake lines, brand new 17" rota alloy wheels, brand new alternator, clutch, clutch lines and slave cylinder, custom exhaust, brand new radiator, completely standard interior.. no rips or tears or any marks whatsoever on the leather... engine is polished...

and cheaper to insure than a 1991 g-limited import... or any import for that matter

so far i think i have spent more than 7grand on mods and overhauling the car to keep it running and looking mint and thats without labout because all the work been done was by me
paul_4xxxx

Re: [All] [Generic] our car prices...

Post by paul_4xxxx »

im not about to give the car away... blood sweat and tears have gone into that! i have owned it 3 years... 1st year working 12 hours a day 7 days a week just for the privalage of owning such a mint example of a uk car...

we should be asking a lot more... for 1.5grand your getting a lot of car for your money with a rev1-2... couldnt they be going for double??? and even with mk3s going for 6k up we could get more for the mk2... there the better looking car after all
paul port
Posts: 1472
Joined: Fri Dec 24, 2004 10:50 am
Location: Buckinghamshire

Re: [All] [Generic] our car prices...

Post by paul port »

No...
It's the quantity of Dross that was imported from Japan when the exchange rate fell... Meaning that all the traders would pay for was rotten garbage.
These have diluted the quality image of the car

paul
paul_4xxxx

Re: [All] [Generic] our car prices...

Post by paul_4xxxx »

well... all the crap ones need to be burnt then! the mr2 challenge has been good for that model i think, and with ten of the best, that will be another good thing!
RichardK
Posts: 1695
Joined: Tue Jan 08, 2008 10:47 pm
Location: West Midlands
Contact:

Re: [All] [Generic] our car prices...

Post by RichardK »

I think you're asking too much - of the car, and of owners. We're not going to get a cartel to "price fix" MR2s, and you are really overvaluing what you see as the benefits on your car. I paid less than half that for an R-reg (yours is a P) in good honest condition, no respray (maybe some stonechips, but looks good and will polish up nicely), excellent leather, only 1,000 miles more, nearly full history, and I know what it needs mechanically (radiator).

I think I got a bargain. But looking at other sale prices, not TOO much of a bargain - I reckon a cambelt change, radiator, full service and a good polish would let me "ask" £4000ish, and expect £3,500 at the most, and would cost me as much as the difference if not more.

Imports have more "extras" - folding mirrors, steerable foglights, A/C - and leather can be rectified (leather is nothing to shout about on a UK Rev 4, either). And insurance is pretty much the same for either - Turbo owners pay more because it's a Turbo, not because it's an import. Our imported Eunos Roadster even got cover on a UK classic car policy! Finally, imports haven't spend the past decade to 18 years in salty, car destroying Britain - a fresh good import should offer a totally mint shell and components underneath.

If the car is worth that to you and you don't want to sell, then please - stick to the price. It's going to make other MR2s look like good value in comparison. But if you want to sell, I don't think you can expect everyone to up their prices - FWIW, SW20s seem to be holding their value very well; good Rev 4/5 cars are still hanging around the £5K mark from dealers and I'm seeing the newer Mk 3 for less money!

Comparing a £5K, 1992 Turbo (model not offered in UK, and probably containing thousands of pounds worth of worthwhile modifications) to a standard UK N/A isn't even really relevant. Look at other UK Rev. 4s offered.
Club Tropicana

Re: [All] [Generic] our car prices...

Post by Club Tropicana »

welsh_mr2_kroozer wrote:im not about to give the car away... blood sweat and tears have gone into that! i have owned it 3 years... 1st year working 12 hours a day 7 days a week just for the privalage of owning such a mint example of a uk car...

we should be asking a lot more... for 1.5grand your getting a lot of car for your money with a rev1-2... couldnt they be going for double??? and even with mk3s going for 6k up we could get more for the mk2... there the better looking car after all


The market value of a '97 n/a is NOTHING like 6k - if you get 3 for it, count yourself lucky. The fact that its had loads of work done do it will in many cases, put a lot of people off. They're old cars now, they dont command high prices anymore.

You can try 6k, but your Mk2 will of rusted to dust before it sells at that money. And mk2's don't really rust...
RichardK
Posts: 1695
Joined: Tue Jan 08, 2008 10:47 pm
Location: West Midlands
Contact:

Re: [All] [Generic] our car prices...

Post by RichardK »

welsh_mr2_kroozer wrote:full re-spray coz the car is 10 years old and was showing its age, new dampers, springs, 4 new brake calipers, brake lines, brand new 17" rota alloy wheels, brand new alternator, clutch, clutch lines and slave cylinder, custom exhaust, brand new radiator, completely standard interior.. no rips or tears or any marks whatsoever on the leather... engine is polished...


So you've fixed what was broken, made up for lack of cosmetic maintenance (my Delica is 12 years old, hardly needs a respray), replaced some wear & tear items, and the only actual improvement is a set of alloys...

People expect a working car when they look at adverts - having stuck brake calipers, squealing or faulty alternator, or a worn radiator, or a slipping clutch, or leaking hydraulics, or blowing exhaust, or knackered suspension (most aftermarket kits are cheaper than the genuine article despite improvments) are reasons to knock the asking price down and if you bought a car with those faults from a dealer they'd be obliged to put them right if they weren't declared correctly.

A polished engine and custom exhaust doesn't equate to up to £3,000 more value...
Charged
IMOC Committee
Posts: 8897
Joined: Fri Sep 02, 2005 8:09 pm
Location: Herts

Re: [All] [Generic] our car prices...

Post by Charged »

This one of the difficulties I face in my job when it comes to our agreed valuations.... we ask the customer to place a value of his or her car based on the price they beleive the car is worth if sold to a like-minded enthusiast or how much the customer would be willing to buy the car for themself. Unfortunately not everyone follows/understands this. I've had a few recently, one in particular where the customer had added the purchase price of the car with the amount he had spent on modifications and put that down as his proposed agreed value.. this was £11k and the car was a 1994 Gt4... =;
Just because someone has spend thousands on mods doesn't necessarily make the car worth any more.
We have Supras on our books which have had tens of thousands spend on mods but we value them at what they would sell for, and our max agreed value is £15k.. we dont get any arguements from Supra owners...

I've spend thousands on my Mr2... do I value it at what I have spent? NO, I value it at maybe £1k more than I paid for it.. because in reality, that IS what it is worth.
If you can't see the angle, you're in trouble.
Greddy-Matt
Posts: 4412
Joined: Thu Dec 08, 2005 3:51 pm
Location: Southampton

Re: [All] [Generic] our car prices...

Post by Greddy-Matt »

Unfortunately no one in their right mind is going to spend 6k on a 10 year old NA. Not when you think of the other cars 6k will buy you! I put nigh on £9k into my NA including the car, and as most people who have seen it will say it was pretty tidy! And yet I still made a £7000 loss on that car....
RichardK
Posts: 1695
Joined: Tue Jan 08, 2008 10:47 pm
Location: West Midlands
Contact:

Re: [All] [Generic] our car prices...

Post by RichardK »

I think a big part of it is "how do you pay for it".

Most people would be looking at financing a £6,000 car - even if they have the cash, they might want to hang onto it. And who is going to want a debt tied onto a decade old car when similar examples of that car are selling for pocket money figures?

You think, a '97 is going to be like a 94 now with an extra 30,000 miles typically, by the time a 3 year finance deal is up.

It's not an exotic car. It's not a valuable car. Finance on it would be daft. And no secured finance company would consider that value...
jimGTS
Posts: 14024
Joined: Tue Dec 14, 2004 1:40 pm
Location: North Kent

Re: [All] [Generic] our car prices...

Post by jimGTS »

my garage states 9k+ werth of mods, bought it for 4.5k, and agreed value at 6k.....which i think is fair....
then again, i really dont plan on selling the car :mrgreen:

if someone doesnt realise what there werth, then you could get 5-6k for it...if people do there homework, then theyll sure knock it down to 4k, or might not even bother...

end of the day, my cars 15years old, there are only a few people who would be interested in buying it.

if you can get a mk3 for 6k, then your general joe public would more than likely opt for this...only people who will appreicaite true value are enthusiasts....
Si_Crewe
Posts: 1444
Joined: Thu Apr 27, 2006 7:00 pm
Location: Near Dumfries

Re: [All] [Generic] our car prices...

Post by Si_Crewe »

Sorry but some of you guys need to get a grip.

Here's a newsflash:-
Buy an MR2 for £3k. Spend £10k on it. When you sell it you'll get, mmm, maybe £4k-£5k for it, if you're lucky.

This is not a new thing. Customising cars has been a great way to lose money for the last 50 years.
You do it to produce the car YOU want. Not to produce something you can sell on and get all your money back.

Beyond that, much as we all think the MR2 is a nice car, you can buy a 3 year old hot hatch that'll bury an n/a for £6k.
No buyer in their right mind is going to buy an MR2 for £6k when they can have something newer, safer and faster.

In all honesty, I bet the thing that attracted most of us to the MR2 in the first place was the fact that what was, 15 years ago, a £25K sportscar can now be picked up for a couple of grand.
Seems a bit hypocritical to now want to keep the prices inflated.

I bought mine for £2,200 and I KNEW I was paying over the odds, even though it was a mint n/a with only 45k on the clock. Alas, living in the middle of nowhere means I'd have spend 3 or 4 hundred quid visiting cars for sale so it was worth paying the £2.2k for a car on my doorstep.

Personally, I'd never look at an MR2 for more than £3k. For £6k you'd have to drag me away from an E46 3 series BMW.
RichardK
Posts: 1695
Joined: Tue Jan 08, 2008 10:47 pm
Location: West Midlands
Contact:

Re: [All] [Generic] our car prices...

Post by RichardK »

Wasn't even £25K, £18,995 new...

But it does illustrate a big failing in car prices in the UK.

It was £18,995 new in what, 1991. AND 1999. And the replacement was about the same price despite having more tech.

How much have our wages, the values and costs of our houses and mortgages, gone up in that time?

Could be argued that in 1991, the MR2 was half the price of a 3-bedroom house in much of the UK. That makes it a £75K car now, easily. What does £75K get you - top end BMW 6-series? Porsche Cayman with some decent kit, or a basic 911?

I learned today that the Suzuki Whizzkid was £2,400 in 1980. And it was a CHEAP car, a basic, small entry level car, not something clever...

New cars are dirt cheap these days. And that's why a decade old MR2 will really never have any sensible value. People can afford much better cars for the same sort of "outlay" in real terms.
Club Tropicana

Re: [All] [Generic] our car prices...

Post by Club Tropicana »

RichardK wrote:Wasn't even £25K, £18,995 new...

But it does illustrate a big failing in car prices in the UK.

It was £18,995 new in what, 1991. AND 1999. And the replacement was about the same price despite having more tech.



Not so. The last of the UK T-Bars sold for between 23 & 24k.
RichardK
Posts: 1695
Joined: Tue Jan 08, 2008 10:47 pm
Location: West Midlands
Contact:

Re: [All] [Generic] our car prices...

Post by RichardK »

And the list price of a Nissan Qashqai is £14K, but when I specced up one I'd like it was £25K.

Used prices rarely reflect the differences in sale price of the new car variants - how much was the T-bar over the hardtop in 1991?
Hellboy

Re: [All] [Generic] our car prices...

Post by Hellboy »

I paid 4750k for my Rev 1 4 years ago.

Worth every penny IMO Id still want 3500K- 4K for it now as its worth more to me and it is in great condition.

They are not your "normal" 2nd hand cars, just like a R32 Skyline is not a Normal 2nd hand car - specialest market , just like the mr2
Club Tropicana

Re: [All] [Generic] our car prices...

Post by Club Tropicana »

RichardK wrote:And the list price of a Nissan Qashqai is £14K, but when I specced up one I'd like it was £25K.

Used prices rarely reflect the differences in sale price of the new car variants - how much was the T-bar over the hardtop in 1991?


The difference between a t-bar and hardtop from new was roughly 1k. One of those WhatCar books will give you the definative answer.
Post Reply

Return to “MR2 MK2 1990 - 1999 NA & Turbo”