Photo: Bring a Trailer
If you have two cars right now, maybe you should think about selling one. Someone just tried to pay $69,000 for this red, bone-stock, low mileage 2008 Honda S2000. Lo and behold, the seller’s reserve isn’t met.
Is the current market overinflated, and people are spending money, or are we all just hyped on nostalgia? We can’t really decide right now, but this 2008 Honda S2000 (chassis number: JHMAP21428S000982) auction shows just how dynamic the market can become when you least expect it.
People were interested in this legendary yet very popular Japanese vehicle. They were anticipating a six-figure sum to be paid and at least 15 minutes of excitement. With a soft power top, xenon headlamps, and 17-inch alloys, its original tires from 2008, a clean Carfax, and a 2.2L VTEC engine that sends its 237 HP to the rear wheels only, the roadster is something to behold. You can just imagine the trips or the value of it skyrocketing.
Reality struck when someone decided to go all-in in the last 30 seconds of the bidding war and offered $69,000. That wasn’t enough. The seller had a reserve of $125,000 previously approved by BaT.
But things get interesting rather quickly. A bidder says he saw this car at Honda of Farmington Hills listed for $53,000 just a couple of months ago. He wanted to buy it but didn’t have the cash on hand. The dealer then took it to an auction where it went under the hammer for $78,000 and fees.
The buyers then listed it on eBay for the whopping sum of $149,000. That didn't work in their favor, so they gave BaT a try. The reserve was set with a new, lower price. Neither this worked. Maybe the seller just wanted to make the car famous. Or the seller knew what the car was worth and didn't want to give it away for cheap.
Last year, we saw a 37-Mile S2k being auctioned for $45,000. That car ended up in someone else’s garage for the sum of $61,500. Another one with just 91 miles on the odometer got away for $70,000 in 2019. Maybe the market is right in this instance? We'll let buyers and sellers decide.
Until further developments and news about getting back on track with car prices, we recommend you stay safe out there. It seems like things might take a turn for the worst sooner rather than later.
People were interested in this legendary yet very popular Japanese vehicle. They were anticipating a six-figure sum to be paid and at least 15 minutes of excitement. With a soft power top, xenon headlamps, and 17-inch alloys, its original tires from 2008, a clean Carfax, and a 2.2L VTEC engine that sends its 237 HP to the rear wheels only, the roadster is something to behold. You can just imagine the trips or the value of it skyrocketing.
Reality struck when someone decided to go all-in in the last 30 seconds of the bidding war and offered $69,000. That wasn’t enough. The seller had a reserve of $125,000 previously approved by BaT.
But things get interesting rather quickly. A bidder says he saw this car at Honda of Farmington Hills listed for $53,000 just a couple of months ago. He wanted to buy it but didn’t have the cash on hand. The dealer then took it to an auction where it went under the hammer for $78,000 and fees.
The buyers then listed it on eBay for the whopping sum of $149,000. That didn't work in their favor, so they gave BaT a try. The reserve was set with a new, lower price. Neither this worked. Maybe the seller just wanted to make the car famous. Or the seller knew what the car was worth and didn't want to give it away for cheap.
Last year, we saw a 37-Mile S2k being auctioned for $45,000. That car ended up in someone else’s garage for the sum of $61,500. Another one with just 91 miles on the odometer got away for $70,000 in 2019. Maybe the market is right in this instance? We'll let buyers and sellers decide.
Until further developments and news about getting back on track with car prices, we recommend you stay safe out there. It seems like things might take a turn for the worst sooner rather than later.
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