1997 850R 5SP - what's it worth?

[macs70GLT]

I'm considering a 97' 850R wagon with 5SP manual. Car has just 107K miles and from the ad looks to be in good shape.

Edmunds shows private party sale ~ $2,224 and Dealer Retail ~ $3,229 for my area.

Asking price is $7,900.

Seller is in BC, willing to bring it into WA state.

This is an extremely rare car - what's it really worth if in good condition?

Ad is on IPD classifieds and Swedespeed.

Thanks

Mike

[rmmagow]

Only if it's worth it to you. That's big bucks for an old car, rare yes, but this is a top price.

[j-dawg]

are you allowed to import that to the USA? i don't know if the laws will be so friendly to a car in a configuration that was not sold here. see the list on the following page:
http://www.epa.gov/otaq/imports/canadian/canlis97.htm

note that all the turbo 850s listed are specifically only allowed with the automatic.

as for the price, i paid less than half that for my T5M wagon, and even then i thought the price was a bit steep. granted, the 850R also has less than half the mileage and looks to be in good shape, but it's a lot of coin for the car.

[macs70GLT]

rmmagow - thanks, that's the perspective I'm looking for. I would love a manual tranny, but at what price?

j-dawg - Great link, I had no idea there was something so specific available. I'll do some homework before I pursue it further to make sure it's even possible to license!

Thanks guys

Mike

[j-dawg]

yep.

also, i don't know if that R is AWD, but if you are really committed to having a 5spd turbo car you can probably swap a manual into a clean FWD Turbo or R car and you'd almost certainly be in at under $8,000. that'd also give you a new clutch, rear main seal, etc.

[abscate]

Crazy high. Dealer retail is the top 5-10% of cars that look like new and have nothing wrong with them. Typical private seller will get 1/2 of the retail, after you find out what the car needs.

If you sit in my JRL 2005 - you would swear it just came out of Sweden. Ive never bought a private car like that before.

see caveat on being able to register it in WA above

[shaker_chi]

If you really want a manual, keep your eye out for an S70 or V70. I know its not an 850, but I picked up a 98 S70 T5 M with 130,000 for $3,200 about 6 months ago. That price is crazy high. Probably be cheaper to pick up and automatic and do a transmission swap. Good luck.

[E Showell]

That's $7,900 Canadian, right? Still stratospheric. Seller is, no doubt, suffering from the "endowment effect." The endowment effect holds that people value goods that they own more highly (than those goods might objectively be valued in the market) simply because they own them. Lots of social science research on the concept which comes to us via Mr. Thaler at the University of Chicago (econ. dept.) from several decades back.

[matthew1]

That's $7,900 Canadian, right? Still stratospheric.

Yep. Fifteen years ago I went to Vancouver, BC several times when I lived in Seattle. It was nearly 2:1 (!) in the US dollars' favor. Now it's rough parity.

Seller is, no doubt, suffering from the "endowment effect." The endowment effect holds that people value goods that they own more highly (than those goods might objectively be valued in the market) simply because they own them. Lots of social science research on the concept which comes to us via Mr. Thaler at the University of Chicago (econ. dept.) from several decades back.

I love psychology. Thanks for the info, Mr. Showell, I'll read what I can of his writing.

[matthew1]

Another thing: I firmly believe that these rare, manual T5s are going to appreciate. Slowly, but they will appreciate.

The market bottom for them has passed. It's now up only.

If you have one, take good care of it. If you want one, now's the time.

P2s also.

All the above is my opinion. I don't have a crystal ball, it's just a hunch.