FD Pricing Database
 

Hey guys, I posted this a few days ago in a different section where I thought it “should go” but got no responses, so I figured I’d put it here where it will be seen by the most people whom it aims to effect.

Your thoughts?

Nick

Yes please! Maybe this could also help to get a declared value on insurance instead of them only giving me 12k if I total my car.

I personally think creating a log of actual selling prices is a brilliant idea. People tend to overvalue their cars; and even when the market declines, asking prices generally stay the same. So the real market value lies within the selling price (which is seldom disclosed to the public). I've attached a short article detailing the psychology behind sellers and asking prices relative to true market values. Certainly an interesting read for those interested.

https://www.ferraris-online.com/page...=FZA_201702_MU

While that would be awesome, I am skeptical that an insurance company would accept such a thing for a declared value. We could try though!

Yep. This is a great idea. I suggest willing participants simply email Rich or some other moderator the price they sold their car for along with the date, model, year and mileage. Then that entire list can be seen in a thread at the top of this sub forum.

Great idea. Will help sellers and buyers alike. I would also suggest we add "roller" or "project" or something to that effect to identify the 7's that are not running or need a lot of work.

Yeah I was going to call Rich if this seemed like a welcome idea to the general masses.

Data Logs
 

How about a source that shows the sales value of 5-10 FD every week?

The auction data for RHD FD in Japan is easily accessible on line. It gives the price in yen that auction cars sold at and also the VIN number. Add $2000~5000 and you have the North American price for RHD. Add $5~10,000 and you have the LHD price.

Of course it is not that simple.

But overtime an accumulated data-base could provide more quantifiable correlation trends.

1993 RHD FD are now eligible for US import. This will add to the data available from the batch of 1992 that already have moved over.

this is under the assumption that this will help pricing... this can swing the other way

Auction cars are a bit of a crap shoot and can have some statistical anomalies which may skew the data. They are bought often times sight unseen and without being test driven properly. As such, I’d omit it from the database. We’re interested in a private party value over a wholesale value. Having said that, we could probably use that as a basis for wholesale values or RHD values in general.

There is no way to validate the sales. I could say I sold mine for $5k less than I did to manipulate the database. No insurance company would ever use it and it will not influence sales prices. Sales are low volume and car conditions and attributes vary widely. Rollers can go from $3k to $10k+. A database like this will not do much for serious buyers and sellers. It's for watchers to have fun watching and estimating.

Crapping out
 

Certainly the Japanese auctions can be a crap shoot. But the selling is based on standardized grading procedures (trustworthy or not) under which thousands of cars change hands through fairly sophisticated national networks,. For the FD, you can get many data points and, with sufficient data, you can weed out the outliers. In Vancouver we have very many RHD and it is a game of cat and mouse with the insurance company. They certainly will give you a chance to bring in local ads. Hopefully, in time, they will take the Japanese data into consideration as well, because our ready access to that market certainly sets the pricing tone here.

OK, here's your first data point:

94 FD. 74K miles. Rebuilt engine with 12K. Immaculate condition. Pristine CW paint. $3K stereo. Lots of reliability mods.

Sold September 2017 for $35,000.00 (full asking price).

I put together a quick google form, Give it a look over and if any of you want to take it over to edit it please let me know.

Link: https://goo.gl/forms/Y89gIyIYIWHM9tR53

Fantastic form, thank you sir! Just completed.

Side note: Are there any sale websites that I can search past confirmed sale prices (like bringatrailer.com)? I just got safeco insurance which allowed me to set an agreed value with unlimited miles but they will fact check the similar values at time of a claim.

Hey Everyone,

I just added "State Where Vehicle was Sold" as an optional field and published the responses to the web, the published spreadsheet will auto-update with new responses as they are received- the link is below. I am open to suggestions or sharing this with others who are good with Google Docs.


Click here to see all the responses!

I personally think the forum is a terrible place to get the most for your car and hence determine a price point. From what I have seen prices are the lowest here. Granted it could be that I live in CA and things are generally more expensive over here..

Sorry that happened to you. But you are entitled to "fair market price" of your vehicle. What that means is that the insurance company provides you with enough $$ to replace your vehicle with another that is in similar condition, mileage, and trim. The way fair market price is determined is by examining current FOR SALE ads for what they are asking. Not what they sold for.


Agreed. Not only that, I believe it will provide a false sense of accuracy. For example something that sold 7 months ago is irrelevant today

I think you're right on the nose about CA.


I wonder if that is because records of recent sales are not kept nationally or regionally. I know real estate is a different thing but appraisers do not use active sales or properties under contract for comparables unless a last resort. What they do consider are appreciation or depreciation trends in active listings.


Not necessarily, what about if there are no comparables for the car in question? Trend data plays a huge part in pricing.

As an example
 

2002 Bathurst X, VIN 607264 (i.e within last 115 FD made) 38,500 km from new, Grade 4 - Went for Y3.2 million this week in Japan.

[Thumbnail is incorrect picture. Thumbnail is for a highly modify Bathurst with issues that did not sell at its asking Y2.8 million).

PLease refer to next post.

Correction
 

Sorry, eh?

This is the correct picture for the above post.

Attachment 734719This is the correct picture.

I can’t edit the original post to include the link to the form. Rich can you take care of that please my man? I’d also maybe add a section for porting as it can have an effect on value. What do you think?

Nick

That is correct. There is no database of sale prices so the insurance companies can only go by contemporary for sale ads. I know this, because I had to get a crash course in this subject when my first FD died in a fire. Just like everyone else they tried to screw me with a lowball offer. It didn't work though :D

Correct. Home appraisers use recently (no more than 6 months) SOLD prices of similar homes (square footage, number of bedrooms, garage, ect) within the neighborhood (1 mile radius in my city) to attain an appraisal. But that information is extremely easy to attain.

Not finding comparables is not a likely scenario as with rare cars the search for ads is widened (initial search is regional). Don't get me wrong, I think the idea has a decent premise but I don't believe it will be executed accordingly. My issue is that I believe people will be using old data for their advantage. Sellers and buyers, and at the same time. I could see the seller looking at the trend when these cars were higher priced and the buyer looking at when they were lower. It sounds stupid but when it comes to money people put on blinders and use anything they can for their advantage. At least with home sales the appraiser comes out and that's it. No arguing the bank won't fiance one cent above the appraised value.

Edit- Anyway good luck and I do hope you get a decent list going as with anything, it will be very interesting to see non-the-less.

We’re starting to get some responses! There are some really interesting cars that were sold and honestly the prices are slightly higher than I expected. Thank you to all who are participating!

Is there any way to modify the early entries? I wasn’t able to select transmission type as it was added retrospectively and would like to update that.

Nick