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Type SH value?

 
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Old 03-09-2014, 04:57 PM
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Type SH value?

Ok PZ, I've been doing a lot, (and I mean a lot!), of research on buying a 5th gen type SH in the southeast/Georgia region, as I wish to purchase one in early April. However after browsing many cars of this criteria, and researching KBB values, I've found the difference disheartening. Examples in following links:

1998 Honda Prelude Base What's it Worth?

Kelley Blue Book

1998 Honda Prelude Coupe 2D SH Prices, Values & Prelude Coupe 2D SH Price Specs | NADAguides

The information given to these websites are as follows:

1998 Honda Prelude Type SH

160,000 miles

Southeast Georgia zip code

Very Good Condition

Now the values these sites gave me were from $2300 - $2800.
Correct me if i'm wrong, but just about every type sh with this criteria I have given are selling at around the $5000 price range. Could you imagine being the seller of your well-kept type sh, asking $5000 for the car, only to have me show up telling you that your car is only worth half of that? What information does KBB, NADA, and Edmunds use to provide these car 'values'? They certainly aren't the market average. So whats the deal PZ? Is everyone on craigslist, usedcarsforsale, ebay, etc overpricing their car, or are these websites inaccurate?
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Old 03-09-2014, 05:06 PM
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Re: Type SH value?

A well taken care of 5th gen 'lude should run from 4000+ (SH model as long as there's nothing wrong with it)

If I found an SH in good condition for 2300 i'd buy a second lmao
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Old 03-09-2014, 05:10 PM
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Re: Type SH value?

Quote:
Originally Posted by apocalyp53 View Post
A well taken care of 5th gen 'lude should run from 4000+ (SH model as long as there's nothing wrong with it)

If I found an SH in good condition for 2300 i'd buy a second lmao
That's what I thought, but not according to KBB, a 98 prelude sh with 50,000 miles is worth around that price, but everyone on craigslist with that mileage want 7k, 8k+
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Old 03-09-2014, 07:37 PM
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Re: Type SH value?

Quote:
Originally Posted by BroMcKowski View Post
That's what I thought, but not according to KBB, a 98 prelude sh with 50,000 miles is worth around that price, but everyone on craigslist with that mileage want 7k, 8k+
It also depends on what has been done to the car. If there is more custom parts on it, people will be pricing it to try and get back what they put into it. Esp. if it has mugen/Type S stuff on it. Now I'm not saying it does, but KBB Tends to be a little liberal on prices, My 2000 Base is in Mint condition aside from a couple things, but would I sell it for 2300? Nope. lol. Never selling it :p

Edit: Said mine is worth about 3100. Bought it for 5.

Last edited by Tragic; 03-09-2014 at 07:39 PM. Reason: Priced it out
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Old 03-09-2014, 08:13 PM
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Re: Type SH value?

Different markets demand different prices. Supply/demand also dictates the price. That and too many people want too much money for shyt cars.

A low mileage (50k miles or less) garage queen will command (and get) $7-8k or more depending on the market.
A well kept but well used (100k-175k miles) that's been mainly stored outside and has some minor blemishes should command $3500-5000. Also depending on market.
A beater or high mileage car should command $2500 to maybe... maybe $4 grand if maintained well or new drivetrain or both.
The numbers I quote are street prices I see the 5th gen selling for. Not dealer prices or asking prices.

I've been watching prelude values rise n fall for a couple of years now. Right now it seems to be leaning to a sellers market. Fall seems to be the best time to buy, say from late August to Christmas. Spring is the best time to sell them. That's typical for any sports car.

Bolt on items don't typically add much value to a prelude... but if you can get a tricked out model for a grand more than a stock one and it would cost you 5 grand to duplicate the mods on a stock one, that's a win/win for both you & the seller.

Where kbb gets their numbers? You'd have to ask them. They say a nice 3rd gen prelude is worth $800 but that aint likely to happen.
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Old 03-10-2014, 01:07 AM
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Re: Type SH value?

that's how it is in my area too, I don't see a low millage prelude (130-170k) go for below $4800, unless its not well kept
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Old 03-11-2014, 03:31 PM
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Re: Type SH value?

Now the values these sites gave me were from $2300 - $2800.
Correct me if i'm wrong, but just about every type sh with this criteria I have given are selling at around the $5000 price range. Could you imagine being the seller of your well-kept type sh, asking $5000 for the car, only to have me show up telling you that your car is only worth half of that? What information does KBB, NADA, and Edmunds use to provide these car 'values'? They certainly aren't the market average. So whats the deal PZ? Is everyone on craigslist, usedcarsforsale, ebay, etc overpricing their car, or are these websites inaccurate?[/QUOTE]

Ok so here is the deal on this. When KBB, NADA, etc look up the value of a car, they are focused on average numbers for these cars across the board regardless of condition. Once a car is no longer made that means that the numbers will depreciate heavily (Lude's have weathered it well imo) until these are no longer viable options for finding the value of a vehicle. Really what you have to do for cars outside of these guides is take the market value for them by basing off what they are being sold for through any source and averaging that number to get a close approximation. This would include vehicles such as; super cars, classic cars, cars no longer in production (Lude's), etc.

I encountered this type of scenario in reverse when I was looking at buying something for my wife and the seller was quoting me a price $6000 over the value of the vehicle , but he was simply trying to make back the money in repairs that he had spent on it (as he had already stated in his post...what a tool). Anyways there are different things that you have to look for based upon the circumstance of the vehicle.
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Old 03-11-2014, 05:40 PM
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Re: Type SH value?

Good talk PZ.
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