Datsun240ZGuy
Datsun240ZGuy MegaDork
6/10/24 9:38 a.m.

Mint, red - I could never store an awesome car for 40+ years.  Someone noted maybe the owner had multiple cars. 
 

https://bringatrailer.com/listing/1990-mazda-mx-5-miata-264/?utm_source=dm&utm_medium=email&utm_campaign=2024-06-10

 

Steve_Jones
Steve_Jones UltraDork
6/10/24 12:01 p.m.

Be fun to show up and drive it home, post in the comments as it turns 1000 miles 2 days after it ends. Whatch heads explode. 

rustybugkiller
rustybugkiller Dork
6/10/24 7:23 p.m.

I wonder how much the dealer paid the original owner.

Steve_Jones
Steve_Jones UltraDork
6/10/24 8:54 p.m.
rustybugkiller said:

I wonder how much the dealer paid the original owner.

The dealer listed it on behalf of the owner who bought it last year, the dealer didn't own it. 

Keith Tanner
Keith Tanner GRM+ Memberand MegaDork
6/10/24 9:02 p.m.

At $40,500, it went for more than a new base ND but about the same as a Club-spec RF.

The inflation-adjusted MSRP was $46,400 so the original owner definitely lost money, never mind the opportunity cost. Also, shows how good a deal the new Miata is.

I hope the new owner drives it and drives it lots.  

Keith Tanner
Keith Tanner GRM+ Memberand MegaDork
6/10/24 9:07 p.m.
Steve_Jones said:
rustybugkiller said:

I wonder how much the dealer paid the original owner.

The dealer listed it on behalf of the owner who bought it last year, the dealer didn't own it. 

A flipper got it last year. The poor person who stored it for 35 years is not getting the benefit of this auction.  I think the flipper was trying to sell it on FB marketplace last fall until someone said it needed to go on BaT, I remember seeing it in the CO Miata FB group.

From the auction:

..it remained in the care of its original owner until it was purchased by the current owner in October 2023.

dculberson
dculberson MegaDork
6/11/24 6:35 a.m.

$20k put into the s&p500 in 1993 would be $426,000 now. Don't store new cars as an investment. 

Docwemple
Docwemple Dork
6/11/24 10:03 a.m.

In 89, when they came out, they had massive dealer markups. 1st car I ever saw that happen to. I wasn't impressed at all by the Miata when new.  My daily for warm weather was my 77 Fiat 124 spider. The Miata has grown on me but I think the owner got caught up in the mania over it. They're cool, but not special enough to not just drive until it falls apart.

Steve_Jones
Steve_Jones UltraDork
6/11/24 10:28 a.m.

In reply to Keith Tanner :

From the Miata forum:


This car popped up on one of the Colorado Facebook pages about two months ago. Same day a second Miata on the same group with less miles. The seller a used car dealer paid approximately $40,000. A friends detail shop detailed it. The car was trailered to the detail shop and trailered out. 
The pictures posted probably had 20 years of dust on them

Sounds like they guy that stored it actually got all the money, and the guy that flipped it didn't. 
 

Seems to me buying a @30k mile one is low teens, that's the one to grab. Cheap, drivable, etc. Much better value for the money. 

Docwemple
Docwemple Dork
6/11/24 11:18 a.m.

In reply to Steve_Jones :

I'd rather buy one with 200k for 4k and drive the snot out of it with no depreciation 

bailion
bailion New Reader
6/11/24 11:53 a.m.

In reply to Docwemple :

you could buy 10 for the same price at that point and probably never run out of parts 

Keith Tanner
Keith Tanner GRM+ Memberand MegaDork
6/11/24 12:29 p.m.
Steve_Jones said:

In reply to Keith Tanner :

From the Miata forum:


This car popped up on one of the Colorado Facebook pages about two months ago. Same day a second Miata on the same group with less miles. The seller a used car dealer paid approximately $40,000. A friends detail shop detailed it. The car was trailered to the detail shop and trailered out. 
The pictures posted probably had 20 years of dust on them

Sounds like they guy that stored it actually got all the money, and the guy that flipped it didn't. 
 

Seems to me buying a @30k mile one is low teens, that's the one to grab. Cheap, drivable, etc. Much better value for the money. 

Ah, good. Someone else remembered it better. I'm glad the original owner at least got something out of it, and I'm glad the flipper failed.

A nice NA is a great reminder of why we fell in love with these things in the first place. There are two nearly-stock NAs at FM - my early production one and a 1995. Driving them back to back, it's surprising to feel the difference a few small tweaks can make. Both are on new bushings (a must-do if you want to freshen a car) although mine is on OE and the other one is (I think) on stiffer rubber. The big difference, though, is the cracked dash on the other car. It makes a bunch of noise and just looks terrible. Run through the car and pay attention to rattles and squeaks. A 30k mile car will give you a much bigger start on that than a 200k one.

accordionfolder
accordionfolder UltraDork
6/11/24 2:08 p.m.
dculberson said:

$20k put into the s&p500 in 1993 would be $426,000 now. Don't store new cars as an investment. 

This x10000 - Not to mention the space and work to properly pickle a car and the luck it takes to sell well. It's a one in a million car that's a good investment vs traditional investments.

Keith Tanner
Keith Tanner GRM+ Memberand MegaDork
6/11/24 2:27 p.m.
accordionfolder said:
dculberson said:

$20k put into the s&p500 in 1993 would be $426,000 now. Don't store new cars as an investment. 

This x10000 - Not to mention the space and work to properly pickle a car and the luck it takes to sell well. It's a one in a million car that's a good investment vs traditional investments.

Money in an investment is boring. Money in a car is interesting. But a car that cannot be used because it's too precious is an investment, and therefore boring.

Jerry
Jerry PowerDork
6/12/24 8:27 a.m.

I saw the post from BAT on Facebook, didn't catch the mileage at first.  I'd be more interested in it if it was a 38K mile car, it's beautiful.

accordionfolder
accordionfolder UltraDork
6/12/24 10:20 a.m.
Keith Tanner said:
accordionfolder said:
dculberson said:

$20k put into the s&p500 in 1993 would be $426,000 now. Don't store new cars as an investment. 

This x10000 - Not to mention the space and work to properly pickle a car and the luck it takes to sell well. It's a one in a million car that's a good investment vs traditional investments.

Money in an investment is boring. Money in a car is interesting. But a car that cannot be used because it's too precious is an investment, and therefore boring.

Sir, I own 5 miata and one is powered by an LS3, you're preaching to the choir :) 

dculberson
dculberson MegaDork
6/12/24 11:23 a.m.

In reply to Keith Tanner :

Exactly; my position is separate investment from fun. They do not mix. Enjoy your cars but don't expect to make big money on them. 

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