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Thread: Considering the unthinkable: What's my 1994R worth?

  1. #1
    3,000 rpm - starting to feel the power MLambert19's Avatar
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    Considering the unthinkable: What's my 1994R worth?

    They say don't make big decisions within a year of a divorce. I'm not heeding that advice, and wondering what my 42K mile Chaste-White 1994R is worth. Don't worry, I'm not getting away from Miata's. I have even bigger, crazier things in mind.

    For the moment, the car is entirely stock aside from 14x7 RPF1's with Dunlop Z2's and black aluminum lug nuts and valve stems. I do not have the stock wheels, but think it may be wise to source a set of hollow-spokes and sell the Enkei's off separately. Agree?

    It also has a new, canvas Robbins top with a non-zippered glass window. Installed by a shop with a new rain rail under the prior owner's care.

    I have a folder of receipts accounting for maintenance going back years. The car has always lived in a garage and been adult owned and driven.

    It doesn't have AC. I think that may be the Achilles heel.

    Pictures soon.

    -Matt

  2. #2
    2,000 rpm - light wheelspin, no bog here! Infedora's Avatar
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    What do you need air conditioning for, except maybe engine braking. Sounds sweet.

  3. #3
    6,000 rpm - mere mortals would shift Demon I Am's Avatar
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    I know rust potential might be a huge factor, due to location.

  4. #4
    Ninja Messiah kung fu jesus's Avatar
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    Pricing can vary wildly, but if it is a solid car, it is more valuable than most. I think having an extra set of OE wheels, correct to that year may be a good idea if you are planning to sell the car as "mostly original", if you can get a clean set at a good price.

    This is what I recommend for selling "future classics" like yours:

    Document the car

    Take the time to properly document the car. Take a LOT of quality pictures in GOOD lighting, even if you have to move the car. Don't park it in front of complicated backgrounds. Make sure the car is clean and ready to be viewed before this photoshoot. Take a series of 8 pictures at the same height; front, front right, right, right rear, etc. Show the top up and top down (if applicable). Take GOOD pictures of the interior that clearly show the condition of the upholstery and dash. Don't forget to shoot the engine bay and trunk.

    I would consider taking pictures of the VINs on all the panels, including the dash plaque and on the firewall in the engine bay. This is an important step if everything is original.

    After that, take good pictures of ALL the flaws, including something next to them for scale ( a coin works well, like a quarter.) This undercuts tire kickers trying to find flaws to bring your price down. Consider the flaws in the pricing.

    Shoot a basic video or two (or more), slowly walking around the car. Open and close doors, trunk, hood, fuel door, maybe show the operation of the top and headlights. People love the flip up headlights. Get in the car while filming, and start the car. Show it idles and revs smoothly, no CELs, all the gauges work, the windows roll up and down, etc.

    Because of where you live, underbody pictures will be VERY important. If you can get it on a lift, it could be worth the trouble to get pictures verifying it's rust free and none of the problem areas show signs of corrosion.

    Organize the repair/maintenance documents and take an overall picture of that, too. A large volume of maintenance records can be impressive.

    If you have the means, do a compression test and photograph the results. Because you have an R Package, take a few minutes to call Mazda Customer Service to confirm that so you aren't surprised if a potential buyer does the same and it's not. I've seen it happen.

    If you feel particularly bold, pay for a PPI (pre-purchase inspection) from an independent shop or dealer. It's all stuff to show you're a serious seller with a bonafide car, it can help move the car faster at the price you want, too.

    Make this all available through a photo hosting site, Google Drive, etc. that you can link in the ad for potential buyers to see.

    Write the ad

    Write the ad in a word processor so you can edit it, think it over, come back to it. List out the usual stuff, then list the modifications. Be sure to include any damage or flaws in the car. Think of it as writing a professional business document or report. Be courteous and succinct.

    Advertise

    Consider the people who will want to purchase your car at your asking price and advertise it in those places (online, BAT, or wherever). Consider buying a car report (CarFax, Autocheck, etc.). If you are selling an above average example, prove it. Spending $20 may yield extra hundreds and shows you have nothing to hide. Save the report as a PDF and make it easily available to anyone who views the ad. Consider if you are willing to work with out-of-state or out of country buyers. Will you do an escrow payment until the car is delivered? Are you willing to work with a shipper (they find and hire) to get them the car? Do you have time to take the car to be independently inspected? Just a few things to think about because of your location.

    All that above sounds REALLY boring and anal, but a true 94 R Pkg in white with that few miles on it is pretty rare. Taking detailed considerations really separates the punters from the really interested buyers and it helps give you evidence of what your car is really worth. It also shows you are a responsible owner that doesn't have time to mess around. It can also help give you top dollar for your investment.

    Good luck!

  5. The Following 5 Users Say Thank You to kung fu jesus For This Useful Post:

    Demon I Am (07-31-2018),Greasemonkey2000 (07-31-2018),HarryB (07-31-2018),MiataQuest (07-31-2018),MLambert19 (07-31-2018)

  6. #5
    3,000 rpm - starting to feel the power MLambert19's Avatar
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    Thanks Steven! Solid advice, the lot.

    The car is originally from Wisconsin, and I understand that being in the Northeast I need to prove the rust-free state of my cars.

    I had the opportunity a month ago to grab a set of true hollow spokes for little money. I kick myself for not making the time to go get them.

    I have an e-mail from Mazda someplace confirming it's an R. If the shocks, spoilers and lack of other equipment weren't enough to confirm it.

    I paid $6K plus my time and airfare to go get the car, and have roughly $1350 in wheels and tires. I'd like to think the car is worth $8K all day long. But maybe the market has gone soft. I've certainly not had an easy time selling my 1991 BRG SE with all the FM hardware and turbo. Location might be a big variable, too.

    If I'm able to sell both cars, my hope is to buy a super-low mileage white 1991... ship it straight to V8R in Tennesee, and have them do a sleeper LS swap. 200whp in my 1991 is pretty entertaining, 400, well...

    $8500 ask seem too high? FM is reducing my BRG to $13750 w/ HT, $12500 w/o sometime soon.

    -Matt

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  8. #6
    Ninja Messiah kung fu jesus's Avatar
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    Matt, if the car is in excellent condition, I think that's a fair price. I would certainly consider a premium listing site, like BAT. I think some Miata sites will be more receptive to it than others. Advertising near Boston may help as well. Miatas sell best in the spring and summer. The market tends to flood in fall, driving the prices down.

    Extensively modified cars like the turbo are difficult to sell. People have questions about paying a premium for that with a lot of questions and intricacies only you may be aware of. In those cases, it usually makes better financial return to part out the expensive items and return to a milder state of tune.

    I understand the financials of a divorce, but considering your future plans, it may be easier to deal with the devil (car) you know, than looking to buy another you don't.

  9. #7
    5,000 rpm - there be torque here! MiataQuest's Avatar
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    Hello Matt,
    Steven gave some great advice and market insight.
    Just a thought... Why not modify the white 1994R ?

    Ohh and a question for myself regarding my Ecotec Miata.
    Does your "R" have a factory manual steering rack?
    If yes, how does the manual rack compare to your other car with power steering?
    I am considering installing a factory manual rack to have additional oil pan clearance (the manuals are smaller in diameter) while further simplifying my engine bay and plumbing.
    Thanks!

  10. #8
    Ninja Messiah kung fu jesus's Avatar
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    I bought a car for a friend as a sort of liaison/purchasing agent because it was local to me. His is also a manual rack NA. The car has 225 tires on it and under 20 miles/hour it's hefty to wheel around. On the freeway, it ddn't feel much different from my other cars.

    Regarding the steering rack spacing, would bumpsteer spacers exacerbate the issue? Stupid question, too, but could you shim the engine mounts on the subframe to gain precious millimeters?

    Sorry Matt for hijacking the thread, I can split this discussion if desired.

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  12. #9
    Admin / Pit Boss / Miataholic Phatmiata's Avatar
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    Sell the turbo brg and swap the 94r

  13. #10
    3,000 rpm - starting to feel the power MLambert19's Avatar
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    Quote Originally Posted by MiataQuest View Post
    Hello Matt,
    Steven gave some great advice and market insight.
    Just a thought... Why not modify the white 1994R ?

    Ohh and a question for myself regarding my Ecotec Miata.
    Does your "R" have a factory manual steering rack?
    If yes, how does the manual rack compare to your other car with power steering?
    I am considering installing a factory manual rack to have additional oil pan clearance (the manuals are smaller in diameter) while further simplifying my engine bay and plumbing.
    Thanks!
    The manual rack is a tad rugged even with 185/60/14 Z2's at low speeds. Like Steven said, once moving, it's not a problem.

    Twofold consideration for different swap car. The folks at V8R recommend a powered rack for the V8 and 225's. I would also feel better swapping a 1.6 car and selling the R for someone to enjoy it for what it is (or turbo it, as was my original intent, and an option I might still pursue). Or maybe I just have automotive ADHD.

    -Matt

  14. #11
    2,000 rpm - light wheelspin, no bog here! Infedora's Avatar
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    I concur you should keep the white Miata and do the engine upgrade on it. I’m not as experienced as others here, but I can’t imagine you couldn’t swap to powered steering. Sadly, owning a 90 white I am familiar with the paint plague of the whites in those years, a hidden cost regardless of mileage. Besides, a bird in the hand as grandma said.

  15. #12
    5,000 rpm - there be torque here! MiataQuest's Avatar
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    Here is a live "Bring a Trailer" No Reserve auction for a 1990 Mazda Miata with 66,000 miles. It will end later today. The final sell price should help provide a benchmark. You can review all the pictures to place your car above or below the condition of the car for sale.

    https://bringatrailer.com/listing/19...mx-5-miata-40/

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  17. #13
    Ninja Messiah kung fu jesus's Avatar
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    Quote Originally Posted by MLambert19 View Post
    The manual rack is a tad rugged even with 185/60/14 Z2's at low speeds. Like Steven said, once moving, it's not a problem.

    Twofold consideration for different swap car. The folks at V8R recommend a powered rack for the V8 and 225's. I would also feel better swapping a 1.6 car and selling the R for someone to enjoy it for what it is (or turbo it, as was my original intent, and an option I might still pursue). Or maybe I just have automotive ADHD.

    -Matt
    Matt, I was wondering about whether or not the the BRG may be the better candidate. There would be extensive mods to convert to V8, and I was thinking to myself if pulling the drivetrain and associated parts (essentially shipping a rolling chassis) would be a decent route. You could them part/sell the parts that would be pitched otherwise by V8R. I do understand the easier route of selling the cars whole, though. If you have the low-mileage NA already lined up, it makes sense.

  18. #14
    6,000 rpm - mere mortals would shift Demon I Am's Avatar
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    I agree, with using the green one as a roller. You already own it, and as long as you have the time/space to remove the parts, you'll save money two ways (parts sales and less labor from V8R).

    If I were to be so adventurous, I'd probably look into body reinforcement (seam stitching) and paint correction or respray before shipping it out. replace all the rubber bits and it'll be basically a new car!

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