Ridiculously overpriced used cars

[EngieDiesel]

How about this, also found on Jalopnik: a Dodge SRT-4, with 25,000 miles. The seller apparently wanted $100,000, although the original Craigslist post isn’t there anymore...

https://jalopnik.com/help-this-poor-dodge-neon-srt-4-escape-the-bubble-its-e-1830056068

Found this in the article comments...

Multiple owners, aftermarket wheels, and it's a mid 2000's Dodge... might be worth $5,000 to someone looking for a good autocross car. But yeah, ain't no one paying Ferrari money for that.

 

[McLaren]

The Car Fox has the perfect expression when you read "$100,000 Neon".

 

[RocZX]

How about this, also found on Jalopnik: a Dodge SRT-4, with 25,000 miles. The seller apparently wanted $100,000, although the original Craigslist post isn’t there anymore...

https://jalopnik.com/help-this-poor-dodge-neon-srt-4-escape-the-bubble-its-e-1830056068

https://www.cars.com/vehicledetail/detail/753319846/overview/

"Bubbles" RARE 2005 Dodge Neon SRT-4 ACR Flame Red in a Bubble with 24k miles. World Record First Neon in a Bubble. Super RARE Solid Roof ACR. Stock and Original with Original BF Goodrich tires on BBS rims. Original Paint. No CELs. No dash cracks or Drill holes from "mods". Everything works great guaranteed. Excellent Example of a Rare American Tuner Car. Made in Belvedere, IL USA. Trailered Exclusively not driven.All Matching VINS and Numbers. VIN 1B3AS66S75D227827. Carfax provided.

 

[EngieDiesel]

https://www.cars.com/vehicledetail/detail/753319846/overview/

Okay, after reading that I'm starting to think their significant other told them they had to sell it, and they wrote a total BS listing to make sure no one would actually put up a serious offer.

 

[Beeblebrox237]

Does this count?

https://jalopnik.com/porsches-993-turbo-s-project-gold-sold-for-a-mind-bog-1830054955

$3.1M for a 993 Turbo S Tulip Edition

You know, it's pretty silly, but at the same time I do get it. It's a literally brand new 993 Turbo S. Imagine how much people would pay for a brand new NSX Type R, for instance. I think the fact that it's not street legal makes it even more likely to be ludicrously expensive, since it guarantees it the status of museum piece. It can't be enjoyed on the road, and tracking a brand new time capsule makes little sense, so it's a pretty perfect car for preservation.

 

[McLaren]

Considering the $3.1 million went to Porsche's charity foundation, I'd say it's not over-priced at all; for whoever the rumored young billionaire was that was willing to throw the most money at it, they in turn ended up benefiting others by "over-paying" for the car. This car is going to continue traveling for other events for the next few months before he gets to bring it home.

 

[SPhilli911]

Considering the $3.1 million went to Porsche's charity foundation, I'd say it's not over-priced at all; for whoever the rumored young billionaire was that was willing to throw the most money at it, they in turn ended up benefiting others by "over-paying" for the car. This car is going to continue traveling for other events for the next few months before he gets to bring it home.

This was my thought too. It might be "over-priced" for the car itself but I think it only reached the $3.1 million mark because of the charity part of the sale. Although, even without the charity, I think we all know it was still going to sell for a ludicrous amount. But that's not really surprising is it? It's not exactly your standard Turbo S, a car which is already super rare. Fair price for what it is.

 

[Danoff]

It's really hard to say that a unique item is over-priced.

 

[Eunos_Cosmo]

Random thought vaguely on topic:

I have a theory that a car's long-term value is decided by a combination of 3 metrics

1. Beauty (subjective, but generally universal)
2. Rarity
3. Significance

If you put a value of 1-10 on each of those and add them up for a particular car, I think you can establish a general ROI on it's value.

30 points would mean a unicorn....think Mclaren F1 or Ferrari 250 GTO. The true archetypal legends.

26-29 points lands you in the realm of the F40, 959, 300SL and others. Just shy of top-tier legendary status, but still extremely valuable. (the 993 I posted earlier probably goes here, due to it's unique existence).

15-25 points is the realm of the traditionally valuable car
You could have a beautiful, significant car (such as the Citroen DS, Acura NSX) that is pretty valuable, but lacking in the rarity department.
You could have a rare & significant car (such as a Chrysler Airflow) that is pretty valuable, but lacking in the beauty department.
And you could have a beautiful and rare car (such as a Porsche 993 turbo, ) that is pretty valuable, but lacking in the significance department.

at 5-14 points you're looking at, at best, a car that is either rare, significant, or beautiful, but not really a combination of 2 or 3 of these categories. That or a middling score in all 3. These cars are kind of permanently only of modest value For example, a VW Beetle is significant, but not rare nor particularly beautiful, as is a first generation Ford Focus. A Jaguar XK8 is fairly beautiful, but they aren't significant nor rare. A Lincoln Blackwood is rare but it sure isn't beautiful nor significant. A 350z is slightly rare, fairly good looking, and somewhat significant. All of these are worth 'ok' money depending on condition, but not generally 'a lot' of money.

Below 5 points you're looking at the real mingers. Not rare. Not significant. Not beautiful. The Chevy Cobalts or Dodge Dakotas of the world. Fated to eternal valuelessness.

Occasionally there is a radical singularity of suck, a 0 on the scale. The second generation Hyundai Accent, for example. Utterly insigificant, available in every used car lot, and heinously unattractive.

Now the one thing that does change over time is rarity. So cars that are beautiful and significant and common today might be a long-term value gainer, as their numbers start to shrink (like my 986...right guys??)

 

[-Fred-]

I agree with everything but the fact the 993 Turbo lacks in significance. It's the last aircooled turbo 911 and the first 4wd turbo 911.

 

[Eunos_Cosmo]

I agree with everything but the fact the 993 Turbo lacks in significance. It's the last aircooled turbo 911 and the first 4wd turbo 911.

Oh, it's significant, but not tremendously so. It's like a 6 or 7/10. But a 959 is a 9/10 because it ushered in an entirely new age of Porsche (that we are still in, IMO). It changed the ethos of the brand. The 993 was part of this new ethos, with one foot on the platform of the old.

 

[Eunos_Cosmo]

I'm continually astounded by the price of Toyota trucks. Is it crazy outside of California as well? Here are some samples from my local CL:

The whole overlanding thing has exploded like crazy. I guess I'm not saying they are overpriced (because it's obvious that they are finding buyers) but I'm just amazed at how quickly and how drastically these old 'yotas have gone up in value. The amount of accessories targeted to overlanders (and preppers & "operators", a Venn diagram with a large amount of overlap) is truly stunning, and the general sense I get is that if you aren't overlanding in a Toyota, you are doing it wrong. A friend of mine down in Texas used to run a drift shop, but now runs a specialty Toyota off road shop because it was so incredibly lucrative. When Americans obsess with something, they really, really obsess.

 

[Tornado]

What about the prices of LX450s/LX470s?

 

[motortrend]

I'm continually astounded by the price of Toyota trucks. Is it crazy outside of California as well? Here are some samples from my local CL:

The whole overlanding thing has exploded like crazy. I guess I'm not saying they are overpriced (because it's obvious that they are finding buyers) but I'm just amazed at how quickly and how drastically these old 'yotas have gone up in value. The amount of accessories targeted to overlanders (and preppers & "operators", a Venn diagram with a large amount of overlap) is truly stunning, and the general sense I get is that if you aren't overlanding in a Toyota, you are doing it wrong. A friend of mine down in Texas used to run a drift shop, but now runs a specialty Toyota off road shop because it was so incredibly lucrative. When Americans obsess with something, they really, really obsess.

Yep that's a pretty common phenomenon across the US. I understand the LCs because of lower production. Some Tacos are pretty ridiculous but overall they tend to follow the depreciation curve of something like an 8th gen Honda Civic Si or blobeye/hawkeye Subaru STI which both are still worth good money considering how old they are. I'm biased but at current prices the 100 series LCs are better buys and will eventually become more expensive.

 

[prousonhairy]

I'm continually astounded by the price of Toyota trucks. Is it crazy outside of California as well? Here are some samples from my local CL:

The whole overlanding thing has exploded like crazy. I guess I'm not saying they are overpriced (because it's obvious that they are finding buyers) but I'm just amazed at how quickly and how drastically these old 'yotas have gone up in value. The amount of accessories targeted to overlanders (and preppers & "operators", a Venn diagram with a large amount of overlap) is truly stunning, and the general sense I get is that if you aren't overlanding in a Toyota, you are doing it wrong. A friend of mine down in Texas used to run a drift shop, but now runs a specialty Toyota off road shop because it was so incredibly lucrative. When Americans obsess with something, they really, really obsess.

I was going to buy a used Tacoma last year, something with 40k-60k miles on it, just a few years old. Every one I found was $25k-$30k(DCLB, v6 TRD off road editions), so I just bought a brand new one. If I’m spending that kind of money, why not spend a little extra and have full warranties.

But, that’s also something I looked at too, when mines paid off in a couple of years, I only plan on having 25k-30k miles on it, I should be able to get around $30k for mine still.

 

[20832]

I'm continually astounded by the price of Toyota trucks. Is it crazy outside of California as well? Here are some samples from my local CL:

The whole overlanding thing has exploded like crazy. I guess I'm not saying they are overpriced (because it's obvious that they are finding buyers) but I'm just amazed at how quickly and how drastically these old 'yotas have gone up in value. The amount of accessories targeted to overlanders (and preppers & "operators", a Venn diagram with a large amount of overlap) is truly stunning, and the general sense I get is that if you aren't overlanding in a Toyota, you are doing it wrong. A friend of mine down in Texas used to run a drift shop, but now runs a specialty Toyota off road shop because it was so incredibly lucrative. When Americans obsess with something, they really, really obsess.

Not just in the US, can confirm that it's the same thing here in Germany. The price difference between a Hilux with 5000km or 120000km on the odometer is... maybe about 15k €?
Same thing for a Land Cruiser. They're incredibly sought after, known for the incredible offroad capability and reliability. I guess, that that's something a lot of people are willing to pay a lot of money for, even with quite a few miles on it. Let's face it, a Hilux and Land Cruiser with 120k Miles on it is just broken in. Funnily enough, it's the same thing with Suzuki Jimny's. You're basically losing about 5k when buying new, and that seems to be it.

 

[Turbo]

They want $80K for an S2000 now.

Look, I understand it's a rare package (S2000 CR, 59 made), but still, $80K for an S2K? Now that's ridiculous.

https://www.carscoops.com/2018/11/get-rare-79k-honda-s2000-cr-1995-acura-nsx/

 

[05XR8]

They want $80K for an S2000 now.

Look, I understand it's a rare package (S2000 CR, 59 made), but still, $80K for an S2K? Now that's ridiculous.

View attachment 780622

https://www.carscoops.com/2018/11/get-rare-79k-honda-s2000-cr-1995-acura-nsx/

Yeah. I love the S2000. Just not those editions. Wasn't a fan when they displayed at the NY Auto Show. They can keep 'em. Give me the tank slapper F20C.

I can believe the Toyota prices above. The Troop Carriers are worth it though.
Land Cruiser Troop Carrier

 

[McLaren]

CR is a nice little collector car, but asking $80,000 because it's a "1 of 59" without a radio or a/c system doesn't work in the US market (and certainly not in the south). $80,000 would be more acceptable if it was a low-mile, unregistered example. Having under 4,000 miles in 10 years is a nice benefit. Having 3 previous owners in 10 years and that low mileage however, is not.


This is a Sackey Collection car as well. Very good at the exotic market, I think something like this car however, he may be expecting too much because of a missing option. I found one that auctioned off back in July for $44,000 in black with 4,000 miles and 2 previous owners. My estimate would be to sell somewhere closer to $60,000. The car retailed for $37,000 new and likely had an ADM of at least $3,000 pushing it to $40,000.

$20,000 gain in value for the mint condition, mileage, option-delete, and rarity factor (as they did only build 699 for the US) feels like a fair appreciation in value.

 

[Volksauto]

Not sure if this one is still for sale because this was listed in October. Kind of created an unnecessary hype when first listed because of it's price.
A 100% original 1964 Volkswagen Beetle with 23 original miles. Listed for $1,000,000.00

 

[McLaren]

It's still available. Notes that the original battery is still there and never activated; not sure if that means anything. Would a "non-activate" battery still be useful after 54 years?

It is super-overpriced though. The high end of the market is $50,000 for excellent examples. And Beetles have never surpassed even $200,000 at auction; a Herbie example & one from Seinfeld both sold under $130,000. This example has nothing going for it except originality where as the other 2 had celebrity fame attached, so maybe $100-120,000 at best? The asking price is more than likely to make headlines and get people inquiring with offers for it.

 

[Volksauto]

The asking price is more than likely to make headlines

It already has:
https://www.usatoday.com/videos/mon...nd-new-1964-vw-beetle-could-sell-1m/38055203/

It is super-overpriced though. The high end of the market is $50,000 for excellent examples. And Beetles have never surpassed even $200,000 at auction; a Herbie example & one from Seinfeld both sold under $130,000. This example has nothing going for it except originality where as the other 2 had celebrity fame attached, so maybe $100-120,000 at best?

Yes, stupidly overpriced. However the prewar and wartime Beetles are very valuable.
This 1943 example didn't sell however it had a top bid of $275,000

 

[mustafur]

When it comes to Beetles the earlier the better, is how the price works. A 60s beetle being worth 1 mil makes zero sense, maybe if it was a surviving prototype from the factory that got bombed it would make more sense.

 

[Volksauto]

When you realize the Lamborghini Diablo you auctioned sold for only $4,500 more than a VW Type 2...

 

[Danoff]

When you realize the Lamborghini Diablo you auctioned sold for only $4,500 more than a VW Type 2...View attachment 782839

The lambo is a better buy right now - more upside.

 

[RandomCarGuy17]

Well thanks for that, it's making me think of saving up for a Lamborghini Diablo now.

 

[-Fred-]

Surely the Roadster has to be one of the less desirable models. It's the ugliest Diablo by far, at least from a factory made model standpoint.

 

[McLaren]

Surely the Roadster has to be one of the less desirable models. It's the ugliest Diablo by far, at least from a factory made model standpoint.

Any 1999 Coupes/SVs/Roadsters are usually well sought after b/c Lamborghini had gotten the car dialed in & all its kinks worked out; the car was just much nicer to drive and be in. It was also the only year they were made, so they have rarity on their side to drive value & desirability. For example, a '98 Roadster with 10,000 miles is around $200,000. A '99 Roadster with equal mileage lists for around $300,000. A Millennium Edition which would be a 2000 Roadster is $350,000.

 

[-Fred-]

I'm surprised, I didn't think people actually were looking for the Roadsters... I just think they look weird.

Judging by the well known websites, it seems like the early Coupes are "bargains" at well under 200k, then you've got the ones that were built during the VAG era (well, the 6.0l ones at least) at anywhere between 250-350k+... and let's not even talk about the limited edition ones, there's a GT on sale on Classic Driver for 850k.

 

[Eunos_Cosmo]

I'm surprised, I didn't think people actually were looking for the Roadsters... I just think they look weird.

Judging by the well known websites, it seems like the early Coupes are "bargains" at well under 200k, then you've got the ones that were built during the VAG era (well, the 6.0l ones at least) at anywhere between 250-350k+... and let's not even talk about the limited edition ones, there's a GT on sale on Classic Driver for 850k.

Have you seen the interior on the early cars? Jesus 'H' tap-dancing Christ.