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March 2007 Market Report by David Swig
Market opinions in italics by David Swig |
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Having watched the market for Japanese cars closely over the past few months, it’s apparent that there’s a real frenzy beginning over some of these cars: 240Zs, early Celicas, Datsun 510s. We’ve included a diverse selection of sales and no-sales from last month’s activity on eBay. We found a number of good-looking, well-preserved, low mileage cars, though some of them didn’t attract the bidding activity we would have expected. As with any type of collector car, though, you’re better off paying the most and getting the cleanest example you can find. All of these cars below have nowhere to go but up...buy now! |
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| eBay #170092106679 1977 Honda Accord Coupe. Number of Bids: 0. 7 photos. Location: Seattle, Washington. Manual transmission. Mileage: 115,306 Silver/black. A nice and preserved example of a car that used to be common, but no longer a first-generation ’77 Accord Coupe. Original owner, 115k actual miles, super clean and honest, with original owners manual and maintenance records. Burning oil to the tune of 1 quart every 330 miles, according to seller. NOT SOLD AT: $3,500. BUY IT NOW PRICE: $6,000. Date: 3/22/07.
I didn’t realize how few of these early Accord Couples were left in this shape until I stumbled upon this upstanding example. The $6,000 Buy It Now price seemed to scare off potential bidders, but I was surprised nobody offered the $3500 opening bid. This is a car that people may not be paying attention to yet in the collector world, but in 5 years it will seem like a steal at around $5k. How many do you see like this? |
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| eBay #280096435678 1994 Toyota Supra Turbo. Number of Bids: 19. 27 photos. Location: Emunclaw, Washington. Automatic transmission. Mileage: 38,000. Black/black. A nice automatic Supra with $15k in claimed performance modifications. Mods including Volk 18” wheels, boost controller, intake, exhaust, TRD hood, and a 60-shot of nitrous for when you just can’t resist re-enacting The Fast and The Furious. A very clean looking Supra that was nicely presented under the hood as well. NOT SOLD AT: $29,250. Date: 3/27/07.
These Supra Turbos are perhaps the best Japanese GT cars of all time. Their residual values reflect that, as their owners rarely decide to part with them once getting their hands on one. This car, while nicely presented, was an automatic, which makes it less appealing on the used market. What’s it worth? Almost $30k seems acceptable to me, but the owner of this Supra (and the other Supra in this month’s market report, bid to $46,100) thought differently. |
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| eBay #120099986458 1986 Honda CR-X Si. Number of Bids: 7. 22 photos. Location: Kissimmee, FL. Manual transmission. Mileage: 68,932. Black/black. Most used CR-Xs have about 200k miles on them and look rather ragged. This black car had a super-clean body with no dents, shiny original paint, and the desirable and funky 4-hole Honda OEM wheels. This car was cared for during its lifetime, and it shows. Odd interior combo of 4-spoke Momo wood steering wheel and Hurst shifter. NOT SOLD AT: $3,300. Date: 3/26/07.
I don’t blame the seller for keeping this car it was gorgeous. In fact, I’ve been thinking an early CR-X Si would be a good car to add to the Motoring J Style fleet. This car, so fresh and nice, is worth $5,000 today, and don’t be surprised when we see cars like this fetching $7,500. |
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| eBay #170093102212 1988 Toyota Land Cruiser. Number of Bids: 47. 24 photos. Location: Tampa, FL. Automatic transmission. Mileage: 52,800. Blue/black and white interior. “Museum quality” as described by seller, and the photos reflected that. This was a lightly-used, well cared for original car in a very attractive color combo. This was your chance to get an almost new FJ62, and apparently, a lot of people intended to do just that. SOLD AT: $21,601. Date: 3/25/07.
Collector car values often don’t make much sense, and I don’t get the craze over old Land Cruisers. People were dying to bid $20k on this vehicle, yet nobody offered more than $3300 for the 69k-mile CR-X (above), What gives? That said, this was a beautiful Land Cruiser, and the price paid reflected its outstanding condition and presentation. Way cooler than whatever you’d buy new for $22k. |
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| eBay #160097631069 1984 Mazda RX-7 GS. Number of Bids: 1. 6 photos. Location: Chino, CA. Manual transmission. Mileage: 24,100. Red/gray. A 24k-mile original, in shiny original red paint and characterized as “mint” by the seller. However, seller goofed by not providing nearly enough photographs to entice bidders. Still, this looked a lot better than most first-gen RX-7s out there. NOT SOLD AT: $3,000. BUY IT NOW PRICE: $6,500. Date: 3/25/07.
As with the ’77 Accord mentioned above, the high Buy It Now price seemed to turn off potential bidders. If the car was truly as clean and mint as described, it was worth the $6,500. But only with about 25 more really excellent photos attesting to the car’s condition. A no reserve sale would have attracted more bidders. What’s a GSL-SE in this condition worth? I’d say $8-10,000. |
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| eBay #230105726098 1981 Mazda RX-7. Number of Bids: 23. 21 photos. Location: Fort Worth, TX. Manual transmission. Mileage: 89,000. Silver/black. A/C. If you weren’t concerned about winning the top prize at Motoring J Style, and just wanted an honest first-gen RX-7 to drive and enjoy, this 89k original mile Texas example looked like a solid bet. A second owner car with full service history, its original paint has baked in the Texas sun for 26 years and faded considerably, but mechanically the car was said to be solid with a strong recent compression check. SOLD AT: $2,075. Date: 3/23/07.
Early RX-7s are rapidly achieving “collector car” status long after most of them have been turned into Spec RX7s or junked. Preserved low-mileage originals, like this one, will be worth $5,000 soon. Coming from Texas, it’s probably not rusty, either. |
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| eBay #190093899810 1969 Toyota Crown Deluxe. Number of Bids: 0. 24 photos. Location: New Bothwell, Manitoba, Canada. Automatic transmission. Mileage: 84,719. Dark gray/red. This car looked remarkably clean, though it has sat for some 30 years. Seller states that “frame has rust issues, there are rust holes”, however, the car was complete, straight, and had many super rare spare parts to pluck from. Seller claims he has not tried to run car, but “was told it runs great”. Crack in windshield and on dash pad. Possible repaint? NOT SOLD AT: $850. Date: 3/24/07.
There are none of these left, which is why it amazed me that nobody thought this was worth $850. I guess nobody wanted to go to Canada to drag it home. |
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| eBay #260096066868 1998 Toyota Supra Turbo. Number of Bids: 23. 12 photos. Location: Las Vegas, NV. 6-speed manual transmission. Mileage: 16,195. Quicksilver/black. A pristine, modified, late Supra Turbo. Four-point rollbar replaces rear seats. SP63 turbo, HKS cams, methanol kit fast! Many spare parts included. Volk 19s and a big stereo system complete the image. NOT SOLD AT: $46,100. BUY IT NOW PRICE: $53,000. Date: 3/21/07.
Wow, what a gorgeous car this was. Not many Supra Turbos were sold at the end of the line, making this a rare and highly desirable car. Worth $50k+. |
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| eBay #220091299718 1986 Honda CR-X Si. Number of Bids: 22. 24 photos. Location: Mojave, CA. Manual transmission. Mileage: 165,000. Red/black. This was more your standard-issue “used car” CR-X, though it was straight and original. Being a desert car, the red paint has faded severly those Japanese reds from the 80s never really held up very well. A good used car, with A/C to boot. SOLD AT: $2,576. Date: 3/21/07.
This was market price for a car in this condition, but CR-X values will climb as they become more a part of the nostalgia car scene. The black car in Florida was way nicer than this one, but this is about as good a CR-X as we normally see out here in California. |
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eBay #320094879530 1978 Toyota Hi Lux Pickup Custom Dually Crew Cab. Number of Bids: 16. 24 photos. Location: Mason City, Iowa. Manual transmission. Mileage: 83,735. Red/black. This truck was a real oddball to inspire some 70s nostalgia. Apparently it was a professional conversion done in the U.S., using the original 20R inline 4-cylinder. Body in good shape with good paint, with the exception of a dent on the drivers’ side front fender. Some surface rust. Interior has worn out carpets and generally looks a bit used. Everything works; 83k original miles. SOLD AT: $2,550. Date: 3/29/07. This was a strange, cool truck. Price paid was a steal, in my opinion less than the tax and license fees you’d pay on a new truck, and way cooler! And it will go forever. |
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eBay #200091506399 1988 Mazda RX-7 GTU. Number of Bids: 1. 8 photos. Location: Parkersburg, WV. Manual transmission. Mileage: 81,000. Black/grey. A factory GTU with the 4:10 LSD rear end. Motor/trans/ecu swapped out of a ’92 S5 with 61k miles, as indicated on the gauge cluster. Claimed to drive “as new” with no hang-ups. New aftermarket fuel pump and clutch, among other things. SOLD AT: $1,800. Date: 3/26/07. FC RX-7s can be a tough sell, because most of them are broken in minor ways or major ones. This car looked like a decent project driver, and was easily worth the price paid. One day, when enough of them have been scrapped, the world will wake up and accept these as collector cars, also. |
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| eBay #190094019751 1969 Toyota Corolla. Number of Bids: 0. 7 photos. Location: Rohnert Park, CA. Manual transmission. Mileage: 79,904. White/black. An original, black-plate KE10 ’69 Corolla 2-door sedan. Miles most likely original. Body has minor dents but no rust. Many new mechanical parts and everything works. Chrome is all good and straight luckily, the bumpers were never hit. Unfortunately, the rear seat has been recovered and the fronts replaced with Tercel seats. NOT SOLD AT: $2,500. BUY IT NOW PRICE: $5,000. Date: 3/24/07.
No bids? I wish I had room to park all these cars. Did $5,000 scare everyone away? Most of the people who buy these cars today are bottom-feeders, and maybe this one was just priced out of their league. Worth the money as an interesting alternative to an MG, Triumph, or what have you. |
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| eBay #110104152430 1965 Honda S600 Convertible. Number of Bids: 12. 20 photos. Location: Lakewood, NJ. Manual transmission. Mileage: 49,107. Red/black. Straight body, no rust and underside solid according to seller. Unfortunately, seller’s record is tainted with some negative feedbacks from some unhappy bidders. This S600 was sitting for some unspecified period of time and has recently been made to run again. Needs a tune up and other minor TLC to be used regularly again. NOT SOLD AT: $6,700. BUY IT NOW PRICE: $13,950. Date: 3/21/07.
I don’t get it. Even a truly ratty S600 should be worth $7,000. This looked to be better than that. Why did the bidding stall? Were people extra wary of this seller and his record? The car should have brought at least a $10,000 bid, on a bad day. |
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| eBay #140100690397 1988 Mitsubishi Starion ESi-R. Number of Bids: 13. 24 photos. Location: Forest City, Iowa. Automatic transmission. Mileage: 75,425. Pearl white/black. Not a perfect car (is there such a thing?), but one of the better Starions I’ve seen in awhile. These weren’t reliable cars to begin with, and most have suffered from deferred maintenance in their lives. Seller notes there is “some rust” in wheel arches, color is not original, and car needs minor body work. Interior suffers from boy-racer tach and white-faced gauge cluster. Clean title. SOLD AT: $2,249. Ended with Buy It Now. Date: 3/26/07.
Starions and Conquests are becoming rare as hen’s teeth. This wide-bodied car was unfortunately an automatic, but its clean appearance attracted a number of interested bidders. These cars are cult classics and could one day fetch decent money as the first really collectible U.S. market Mitsubishi sports car. |
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| eBay #120098596504 1979 Toyota Celica Sunchaser T-Top/Convertible. Number of Bids: 11. 24 photos. Location: Hardeeville, SC. Manual transmission. Mileage: 67,218. Blue/blue. With only about 1500 cars produced, these Sunchasers are one of the more rare Celica variants. This one looked straight and generally solid, but used. The 67k quoted could be accurate, but it could mean 167k. The car looks like rust is beginning in the wheel arches and at the base of the rear window. No photos of underside of car or door sills it’s left to your imagination. Needs some mechanical TLC including full tune-up. Brakes are “weak”. A car that looks to have been rode hard and put away wet, but never hurt really badly. SOLD AT: $2,000. Ended with Buy It Now. Date: 3/23/07.
It’s my belief that a truly exceptional Sunchaser should bring $8-10,000. This car is either a daily driver or a restoration project, and ultimately, a very worthwhile one. It wouldn’t take much to make this car nice and presentable. Well bought a real unique Japanese rarity! But the $5400 Corolla Convertible was better to begin with a probably a nicer car to drive. |
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| eBay #180095845916 1971 Mazda Cosmo Series II. 1 offer at $40,000 (declined). 10 photos. Location: Marysville, WA. Manual transmission. Mileage: 80,688. White/black. 1 of 1176 produced, and an extremely rare vehicle to see on U.S. soil. These cars were never sold here, an reportedly this is one of 8 Cosmos in the U.S. today. “Excellent strong running condition”, states the description. Right-hand-drive. No history offered, and the car has some modifications that probably hurt its value as a classic: aftermarket Watanabe-style wheels and Recaro seats with 4-point harnesses. NOT SOLD AT: $50,000 (Buy It Now Price). Date: 3/22/07.
This is one of the most beautiful Japanese sports cars ever produced, not to mention the world’s first rotary sports car. Why it’s worth only 1/5 of a Toyota 2000GT, I don’t know. A more correct and original presentation (original wheels and interior components) would have certainly attracted the $50,000 asking price and perhaps even as much as the $65,000 that the car is reportedly valued at. And to think that my dad passed one up in Germany in 1970 for $1,000! |
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| eBay #150101376803 1983 Toyota Starlet. Number of Bids: 1. 7 photos. Location: Waterbury, CT. Manual transmission. Mileage: N/A. Beige/black. A “hybrid” Starlet set up for the drag strip. Powered by a Dodge Conquest/Mitsubishi Starion turbo motor, apparently good enough to run a 9.80 ¼ mile. Wow! Wheelie bar, nitrous, Datsun 9” differential, alcohol injected, new tires. A crazy vehicle with little info offered in the description. Reliable? Ha! NOT SOLD AT: $3,500. Date: 3/22/07.
What do you make of this car? The bid offered doesn’t even begin to cover the cost of its construction, but what the hell would you do with it? Can’t drive it on the street and not much good for anything except the Wednesday Night Drags. A wild car that looked good, but a limited use vehicle for sure. |
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