having been looking for a mk2/.5 mx5 recently I’ve been surprised by how cheap many people, including forum members say these cars should be. Having looked for several months I’ve seen that you really will be paying a minimum of £2000 for a good condition, mechanically sound and very low rust car on the private market. However I keep seeing on here that these cars should really be priced nearer the £1500 to £1750 mark. Is there anything I’m missing here? Also, out of interest, what is peoples opinion on the mk2’s value? Would you say it is beginning to appreciate in value similarly to the mk1 or are they still depreciating, even for good low rust examples?
You are not really missing anything Eddie.
There’s no solid " Glasses Price Guide" to refer to bar perhaps checking specialist retailers to see what they are getting.
Old school Mx5/Roadster prices are all over the place. Some sellers & buyers are plain daft, some are screwing the bobbin on and being sensible.
Some sellers’s heads are in the clouds with Mk1’s in particular. Equally, there was a truly mint & boxed Racing Bronze on this forum a while back went for around 3k. I should have snapped it instead of spending 4k refurbing my Mk1.
The only “benchmark” I can suggest to you is to repeat the now cliche mantra of " Condition, condition, condition."…plus an intensive as possible research into your proposed car as…with multiple owners…you need to assume it’s been misused & ragged stupid at some point in it’s career. Possibly…
And ignore values of so called Ltd’s…most 5’s seem to have been Ltds…it means nowt really. Unless…it’s a real rocking horse pooh rarety eg a genuine original pukka RS…which some folks want 4 figures for.
its got to be all about condition. Good, proper mint 2.5s can go for £5,000.00, but those cars are very scarce. The really rusty ones, scrap value maybe. So their’s your price range. I think they are on the cusp of some reasonable appreciation, because people will pay £5,000.00 for that rare proper mint car now as so rare.
You can pick them up for £1,000-1,750 but they’ll be low spec and rusty or have lower quality, older rust repairs. Some good condition ones slip into this price bracket occasionally because people price their good one against the rougher ones which flood the market.
A good one in my opinion will be at least £2,000, probably closer to £3,000.
Unfortunately, MX5s are one of those cars where you’re probably going to have to look at a lot of cars before you walk away with one.
Funnily enough I’ve noticed the Facebook groups all say they’re sub £1,500 cars, and all they post is pictures of filler they’ve pulled out of their sill or their rotted away chassis rails
I sold this for £2900 2yrs ago
I’d be asking similar price for this too if / when I sell
I hope that gives you an idea on price
I was only thinking to myself this morning when perusing a few MX-5 adverts, prices seem to be on the up. As one post above sort of relates to what is happening, some put a price tag on their cars thinking they have something special whilst others live in the real world.
I noted a seller wanted top whack for a car, yep maybe worth it I thought, until you clock the rusty sill/arch then check the MOT history, dreaming that someone may bite their hand off.
Thanks for the advice, puts my mind at rest. As for appreciation I’ve seen some near perfect Arctic’s and other desirable cars going for well over £4000. No doubt they’ll go for more in the years to come if looked after.
But those Arctics will probably not go for £4k in 12 months time.
Here’s how my MX5 purchasing history has gone:
1997: £8500 for a 1992 Eunos Roadster, fresh off the boat
2000: Said Roadster stolen and burnt out. I was very happy with the settlement of £6500
2000: 1991 Roadster, a 1997 import, brought for £6000. Needed a new roof and treated to goodies
2004: Repainted the 1991 car (paint was thin)
2005: Sold 1991 car, with 140k miles on it for £3500, strong money at the time
2005: Brought 1996 S-Special II, 2000 import, £4500, bit rough around the gills
2007: Added a 1993 M2-1002, £2700
2008: Sold M2-1002 back to the trade for £1700, plus services, after uncovering the truth behind that car (needed skills and money I didn’t have).
2013: Brought S-Limited ex-Show car (Hail damage) £2500, including unfitted supercharger. Didn’t want the Supercharger.
2016: MX5 specialist offered me £500 for my S-Special 2. Told him where to go
2019. Finally shot of the S-Limited. It was perfect. Best I could get was £3500, after starting at £5500. Ah well. I had hardly driven it in 6 years.
Since 1997, there have been 2 resprays, 4 sills and arches, 4 hoods, 1 engine, 2 clutches, 2 rollbars, seats galore, 1 wheel set restored, 1 set of new wheels, only 6 brake calipers. Here’s to the investment! Its frightening.
The people making money are the ones buying for £1000 and flipping it for 2.
On the other hand, with some wierd bangernomics, I think I have a free car now. Albeit one that eats catalytic converters on an annaul basis (the 270k km S-Special)