A 996 GT3 with 8k miles also didn't meet reserve, it was bid to 136k.

Definitely not presented well and neither was the 996. Market could be cooling, or not, it's hard to get a handle on a solid value with such few sales.

 

Yeah. I guess my thought was it may be easier to give up unfinished. I never picked it up with an idea of investment value except what enjoyment I would have creating and using my vision. It's not until life gets in the way and I realize it's the only thing of value I have to turn into much needed funds. I feel at this point would take many more years to get it off the back burner of where my resources can go.

Someone said i should sell what i dont need from it to put the cash back into it. The fear is that it would be worth even less without the items that most people prefer to have. And it would still need time and resources that are hard to come by.

 

Five auctions now with prices coming in well below expectations (imo).

Nice chance to pick up a few nice examples, if you have the storage space.

Is the market softening broadly or for FD specifically?

Or maybe too many competing alternatives?

Maybe sellers should enjoy their cars for one more year and come back after the recession.

 

As already established, horrendous presentation, maybe a slight distaste by some for silver/red. There is a recession in Canada? And it will be over in a year? Weird.

 

I'm not your target market, but I personally would lowball anyone trying to sell a car that doesn't drive. Even if all your aftermarket parts are the exact ones I want (and they probably are not), I can't know what else is missing from the car or which parts are incomplete or damaged or not quite connected correctly. From what I've heard, you will probably get the most money by parting out the engine and turbo kit separate from the rest of the car, if you're willing to put in the time and work of listing things separately.

 

No recession in Canada yet.

Fritz is predicting a recession and I am taking him at his word.

With achieved prices on the recent FD 30-50% below expected, this seems a leading indicator of recession to me.

 

@rx7hillbilly Does the car have its "papers". Maybe someone with a complete car that has lost its title or is somehow not registerable, would buy the rolling shell and merge it with their car.

lf so your shell could be a target for an RHD to LHD conversion where an RHD owner transfers substantially all the drivetrain and other shared parts over to your shell.

Meanwhile, I hear there are long wait times for certain aftermarket equipment. If your parts fall into that category, you might find ready buyers for the individual parts.

 

Yes. The car has a clear title
Thanks for the ideas guys. I definitely didn't think so much about parting everything out seperately but I can see how that could make items more marketable.
It would be a much easier to decide on loading up and trailering a clean roller than having to deal with all the random parts that may or may not be useful.
This definitely gives me more options to think about.

 

Fed is considering raises rates again because the economy is still too robust. Housing and automanufacturing sectors seem to be able to ignore the increased rates for now. Unemployment is still at near record lows (and likely the economy is beyond " full employment".) Yet the Fed economists continue to predict a recession. Maybe they are following the BAT auctions (as well)?

There were seven bidders active in the low $30,000s for the Black/Tan, but once it crossed $35,000 bids faded out.

This would seem to indicate a market clearing price of, say, $33,000 compared to rough median prices of $40-50,000 a few months ago.

The last three cars likely had different buying audiences. Only one car seemed to attract nit-picks that would hurt price.

Yet all three underperformed.

This would point to general market weakness to me.

Tied to the economy or not.

 

The market has predicted 13 of the past 7 recessions.

 

How does a sample of 3 cars over an extremely short period of time predict general market weakness, when one of the last few cars sold was higher than ever? Why waste effort making random things up just to keep a forum thread going?

 

Also, go back and take 10 minutes to count how many times you and others have stated the market is weakening, yet it has continuously risen, not once was it actually a weakening market. 3 sales don't make it a generally weaker market, there will be high sales and low sales, condition of the car, presentation of the car, season of the year, nature of an auction environment, etc., all play into that. Overall, values have increased and there is no reason to believe the market is weakening at this exact moment. There will always be corrections over time, but you shouldn't assume that is happening based on 3 cars over a couple weeks.

 

Twice in the last two years I was convinced the economy was slowing due to what I was seeing in our company. Each time when I was confident enough in that opinion I would express it to the board of directors and we would have a record month the following month. I've given up trying to understand it at this point. As much as Jerome and his homies at the fed try to derail it, they havent yet.

 

So true

A lot of it is inflationary policy, and inflation raises the price of everything, including the market

 

anyone who says they understand the economy, probably does not....

ive been thinking recently the way we measure stuff is really silly. for example, inflation. we measure the rate of change of some stuff, month over month, which is ok,
BUT we also increased the amount of money by some percentage, and that may or may not have had an effect

think of it like tuning an engine. we don't just look at the injector pulse width, we look at the AFR. i guess my measure would be buying power.

this kind of thing is always interesting to me, but maybe could/should have its own thread?
ive had these cars long enough where i remember when people didn't like them, so its weird to me that its a valuable collector piece now, lol

 

Fun part at this time is the measuring of real GDP. This is the measure of economic actively - adjusted for inflation.

So if you have 2% real gdp growth, but 8% inflation, the growth in dollars sloshing around is 10%.

The bigger the deemed inflation number used to determine "real" GDP, the more inherent uncertainty there is in what is actually going on.

The several high value transactions we see may be the effects of the indeterminate sloshing around of all this money.

Therefore, it may be best to ignore such high valuations, in trying to take a position on which way the market is trending.

 

If it means anything, I'm in the market now, waiting for the right car and hoping to spend ~$45k. I mean, what the hell do I know, but after watching the market for these cars very closely over the years, my feeling is that for the next good chunk of time, well taken care of cars will be selling in the $40's and $50's, decent cars in the mid $30's, and projects in the $20's to low $30's. Obviously, exceptional cars will always fetch exceptional prices, but I think many people with average cars right now are listing them at exceptional prices and hoping for the best--my feeling is that they simply aren't selling at those prices, and they likely won't for quite a while.

I don't think the market is softening so much as we simply saw a bit of a outlying spike a few months ago, and now we're looking at a more representative sample along the market trajectory curve of these cars. In my opinion, even at these inflated prices (compared to a couple years ago), the FD represents a JDM bargain when compared to other cars of the era.

 

US$56.000, eh? Maybe no recession afterall!

 

Don't know if a recession indicator but sure looks like a STEAL for the buyer....$56K today = about $49K in 2021 dollars thanks to inflation.

 

Maybe the price should be indexed to the change in value of LHD doorcards. In that case, the $49K in 2021 should be $98K in today's dollars.

 

This may have been the best deal since c19/2020 on BAT: 10k-Mile 1993 Mazda RX-7 Touring 5-Speed for sale on BaT Auctions - sold for $45,928 on August 1, 2023 (Lot #115,432) | Bring a Trailer

I think based upon the last several auctions the market is turning downward. We'll see what this BB R1 sells for but in my view if it doesn't sell for over 90k things have changed. 16k-Mile 1993 Mazda RX-7 R-1 5-Speed for sale on BaT Auctions - ending August 8 (Lot #116,276) | Bring a Trailer

I personally think it should sell for over 100k and if I was in the collector market, I'd want this one.

 

Agreed the 10k mile 93 that ended on BaT yesterday seemed a bit on the cheap side... but I also wouldn't want an FD with a sunroof nor tan interior. I'm definitely going to watch the 16k mile black R1 auction.

One auction that surprised me was the mariner blue on CarsandBids: https://carsandbids.com/auctions/9nm...993-mazda-rx-7

Thus far it seemed that modified FDs didn't really auction over $60k... I thought it was a welcome sign for people like me that have a relatively lower mile FD (40k-80k miles) and tasteful modifications. Personally, I wouldn't want a bone stock example that was really expensive to get into.

 

I actually thought that was expensive for being auto swapped to manual, even with only 10k miles.

 

IMO getting a decent price on a modded car greatly depends on both the quality of the mods and the quality of the work. Meaning no one will pay top dollar to take on someone's Frankenstein's monster.

PS I absolutely love the exterior of that car. I specially loved how they thoroughly painted the trunk, engine bay, door jams. Someone who is that meticulous usually doesn't drop the ball in other places (maintenance, mods, ect). With that said, I​​ didn't love every mod (interior mostly) but from a quick glance the car looked very decent. Not surprised it went for $63K
.

 

Interesting dynamic with auctions coming in on top of each other. Is the interest being generated offsetting the risk of a wee bit of oversupply?

Seems buyers should be happy with what they are getting.