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So, I follow the Mecum auctions pretty closely and 2 FDs just crossed the block in Kissimmee Florida. Both cars went for 20k over what I was predicting, market is getting hot hot hot
All I can say is that people must earn money easy…. That white FD sold for the same amount my fully built FEED ver V did six months ago
Well two things: One, bidders at mecum come to play. Two, you really can't compare your FD to anything else other than another full bodied Feed FD.
The Feed car got a good price for an RHD based in Canada at the time. Prices have indeed increased a bunch since then. Hard to reference due to lack of real data in Canada.
All I can say is that people must earn money easy…. That white FD sold for the same amount my fully built FEED ver V did six months ago
Without going way off topic I believe the infusion of money from our government helped but I think a lot of people have come in to money the last 18 months due to real estate. Living in Nashville TN we have seen seen prices rise crazy fast the last 4-6 years. The pandemic has caused real estate prices outside of major cities to skyrocket nationwide now. A 1500 sqft entry level house in my suburb North of Nashville was $150k 5 years ago, those same houses are getting listed at $350-400k and bidding wars are bringing prices over asking. We all know wealthy people typically invest in real estate so this has been even better for them. Refinancing or selling and upgrading to a more expensive home and utilizing low rates and small downpayments has put a ton of money in the pockets of the middle to upper middle class. Private equity guys are buying up small businesses at record multiple evaluations due to 21% capital gains taxes and rising inflation. Great time to be a seller of anything but I am finally on board that these cars are still a bargain even at $40-70K when you look at the other options on the market. Much less financial risk paying $50k for a lower mileage clean FD than me paying $100K plus for a high mileage turbo supra, NA 993 or F430.
Is the MB/tan touring a record price, at least in the US? Assuming a 10% buyers premium, that one went for $84,700. I'm not aware of one topping that number.
^ Also crypto investor, think people that invested in BTC at the beginning of the pandemic, give or take 10-20x return depend on your entry/exit point. A lot of the younger crowd invest in crypto, think of young adults that admire all the mid 90s JDM toys, it's not hard to imagine them spending 80k on a car they have longed for if they paid $4k for a BTC and sold it for $60k. Stock investor also made some nice return too, know a few people have cashed in their investment last year and added several property to their name.
Is the MB/tan touring a record price, at least in the US? Assuming a 10% buyers premium, that one went for $84,700. I'm not aware of one topping that number.
Hmm, looks like the fee on Mecum auctions may come from the seller and not the buyer, so I guess this sale was a true $77K
Without going way off topic I believe the infusion of money from our government helped but I think a lot of people have come in to money the last 18 months due to real estate. Living in Nashville TN we have seen seen prices rise crazy fast the last 4-6 years. The pandemic has caused real estate prices outside of major cities to skyrocket nationwide now. A 1500 sqft entry level house in my suburb North of Nashville was $150k 5 years ago, those same houses are getting listed at $350-400k and bidding wars are bringing prices over asking. We all know wealthy people typically invest in real estate so this has been even better for them. Refinancing or selling and upgrading to a more expensive home and utilizing low rates and small downpayments has put a ton of money in the pockets of the middle to upper middle class. Private equity guys are buying up small businesses at record multiple evaluations due to 21% capital gains taxes and rising inflation. Great time to be a seller of anything but I am finally on board that these cars are still a bargain even at $40-70K when you look at the other options on the market. Much less financial risk paying $50k for a lower mileage clean FD than me paying $100K plus for a high mileage turbo supra, NA 993 or F430.
also the stock market has gone bananas, i know a couple people who made enough to buy houses.
look at TSLA. if they had a 2 year tab it would look like a dyno chart from a big laggy turbo (with ignition problems)
On the topic of the Mecum MB car, I was driving eastbound I-10 on Thursday and saw an auto transporter with a number of cars and an MB FD on it heading westbound. If that auction was in south/central Florida quite possible that was it.
Saw it for a split second of course but it was cool to see an FD on a transporter
When my car arrived on a car hauler, the driver's first words were "what is this thing?!? Every time I stopped people were coming up taking pictures!" Followed shortly by how much did I pay.
When my car arrived on a car hauler, the driver's first words were "what is this thing?!? Every time I stopped people were coming up taking pictures!" Followed shortly by how much did I pay.
My was delivered under the cover of night.
Not intentionally…the driver got delayed
However…YES! I had a similar experience with my deliver driver. He just admired the car and said “Wow, this was my dream car as a kid. I never saw one in person before.”
That FEED v5 is one of the very few FD's around worth $50k+ usd imo. Unless your stock vehicle is a true 'garage queen' being a single owner, always garaged, never driven in the rain, original everything in near mint condition with all service documents and dealer paperwork, etc. How people get all worked up for anything else is besides me?
This is pure IRRATIONAL EXHUBERANCE, plain and simple.
That FEED v5 is one of the very few FD's around worth $50k+ usd imo. Unless your stock vehicle is a true 'garage queen' being a single owner, always garaged, never driven in the rain, original everything in near mint condition with all service documents and dealer paperwork, etc. How people get all worked up for anything else is besides me?
This is pure IRRATIONAL EXHUBERANCE, plain and simple.
IMO these cars are still under priced. Personally, I've always felt the RX-7 is not really respected because its "just" a Mazda and therefore people completely ignore the capabilities of this car. I have no doubt in my mind that if Porsche would have built the FD3S it be worth over $200K now (USDM version).
As for me, I drove my first FD in 1997 and immediately I knew it was special. I've said this many times but while car shopping, I drove contemporary counterparts (twin turbo MKIV, twin turbo Z32, M3 E36, C5 z06, to name a few) and none compared to how the 7 felt on the road. Around the 2006 time frame, I took a 2004 997 turbo (470hp/450ft-lbs) that was being sold for $165K by a local dealer. My friend knew them so they let us take it out. I drove that car pretty hard, around corners, redlining it, hard stops ect. Even hit 130mph at one point just to see how it planted itself at speed.
The verdict: From a driving perspective, I felt that it was barely better than my 12 year old 330RWHP FD with a sloppy tired suspension. So naturally I thought "That's all you get for $165K? sheesh..." Then I realized that I was looking at it all wrong. It's not that the Porsche was that bad, it was that the RX-7 is that good. So I decided to do right by my car and tighten up the suspension (among other things lol).
I've learned the hard way that pictures are not really sufficient to judge the condition of a car.
Still - a pretty solid price given that the bidder would have been aware of this potential issue.
Photographs make paint look a lot better, especially with golden hour lighting. My paint is TERRIBLE but looks like it doesn't need a paintjob in lighting lol
