I need an opinion of pricing for a 1994 Monster Miata (Martin Conversion), performed in 1996 on a car with only 35,000 mile car. The engine is a pre-1994 Ford HO, and there are minor differences between the 1994-1995 engine from this 1990 - 1993 engine; however, the car is California Registered and is ID tagged as a 1994 engine in a 1994 car, as it passed with 1994 smog equipment in place. Drivetrain also consists of a T-5 Transmission and a Thunderbird 7.5 Rear end. The car is equipped with Air Conditioning and otherwise appears virtually stock, until you open the hood or notice the dual exhaust pipes. Bumpers have been painted (had minor scuffing), otherwise it has original paint on all the metal surfaces with no major dents or scratches. The interior is also excellent as you would expect for a car with only 38,000 miles as the car was driven only 3,000 miles since the conversion in 1996. The car drives and looks great.

Can you please provide me with an opinion of pricing?

Thanks,

vincesf

 

Are you selling or buying? If you're selling, I am interested in the price also!

 

I am selling and wanted the opinion of the forum members as to a price to help me determine an asking price.

vincesf

 

Spring time

$13,000-$17,000

This time of the year

$11,000-$15,000

Just depends how motivated your are to sell it.

Sold my 5.0 powered 94M (Martin converted like yours) last year for $14,800, after advertising it for over 2 months at $16,000, then $15,000 car was as clean as it could be and all stock in appearance.


Bill S.

 

Have you any idea of the engine HP? Might be interested as well.

 

I don't, but do not believe the engine is modified from its original form other than the Martin exhaust manifolds and air intake.

vincesf

 

If it is stock then it should be about 205 if a '93 . Need to check and see what it would take to get it to around 300 at the wheels. Perhaps some Ford guys can help with the cost of the add ons to get it another 100 hp or so.
Where is the car located?

 

It is located in the San Francisco Bay Area, and has always been a California car, and no rust.

vincesf

 

Vince,
Thanks for the info. Did I read your post correct in that it has only been driven 3,000 miles in 17 years since it was done in 1996?

 

Start at $20K, California smog legal will make it worth every bit of that amt.

 

Stock brakes and suspsension?

3000 mile in 9 years really? Wow I put more than that on mine last month! Must be why you are selling it then?

I know emissions is a big deal in CA but 20K is way too high IMO. I've seen really nice LS cars go for less than that and with a pretty low performance car like this one it's just not realistic. I could see 14ish because of the low miles and if you want to sell it tomorrow 12. GLWS!!!

 

I would think with everyone here having or building one of these, you would be pushing him to sell it as high as possible. One says 20 another says 12. I would list as high as possible and then deal. The reality is that if someone is really wanting one, it isn't like they have 10 to choose from at any given time. If you ask $20 and don't need to sell it, you will get it sooner or later. But if you want to get rid of it quick, there is always someone that will see it and say "eh, I'll pay that". But in my opinion, they are just looking for some cheap fun and it's worth more than that.

 

Well California is not like Minnesota. If you know how to legally register an LS powered Miata in California please let me know. I will have the first one, as it is now I have to drive an under power 5.0 that only puts 270 HP to the rear wheels. But at least its legal and passes smog every two year.

 

Oh yeah I would love to say it's worth 20 grand for sure! I would be thrilled if the market was higher for these cars and I could sell my car for what I have into it. You won't get any arguement from me about that and no question you can't get more bang for the buck then a V8 Miata in any car.

But that is not the point or the issue here. I said what I said based on actively watching the V8 Miata market for the last 3 years. Yes it is a very narrow niche market with few cars in it but there are also not that many guys with 20 grand of disposable income to spend on a car that blue books at 4000 and would not be their primary car.

Absolutely passing emissions in all 50 states and having super low miles on it is a significant benefit to the car. But if you dig around you will see cars at this same level going for under 14 pretty regularly. I've got 16000 into my car and it's probably worth about 12500 as it sits. In this case even as a nice low mile Martian build I bet he has way more than 16 into it and will take a bigger loss than that.

I don't make the rules guys it's just the way it is in the market and if you feel I am wrong show me the numbers. IMO the only way vincesf can come close to breaking even in the car is if he keeps it, drives it and loves it till he wears it out!

PS no my car is not for sale at 12,500 my son already owns it...

 

Being a new guy who wants a Miata V-8's and really watching the prices lately, I would agree with Jim on the value. I think that this looks like a clean car with a nice body which is very important to me but the low power would keep me from buying this car. If I built it(or had it built) to get over 300 to the rear wheels, I would have many more thousands into the car. I thought about it until I figured how much it would cost to get the additional power. Not living in Calif, I can't say how much the smog issue counts into a buy. Perhaps with the amount of population there, the seller will find a buyer willing to pay a good price. The only way the owner will know is to advertise it and see what happens. You can always start high and go low better then the other way around. Something is only worth what someone is willing to pay.

 

All good advice, and yes the car was driven only 3,000 miles since 1996 (800 by the former owner and 2,200 by me). The former owner, who had Martin convert the car in 1996, was a car collector, and owner of a California Mazda dealership. I was very lucky to get the car through the California Smog system, as the former owner had Dealer plates on the car since 1996, and never needed to register/smog it. Very understandable that my car is probably not as desirable for someone that wants more horsepower. I get that, but I wanted a car that I can drive on the Streets, and the California process is just a nightmare, something that I do not want to go through again. The other thing that I like about this car is that it attracts very little unwanted attention. The car looks like a stock Miata, which to me is more attractive than Miata's with huge flares and hood domes (again a personal preference).

Pricing opinions vary between $12,000 to $20,000, I appreciate it.

vincesf

 

Two factors could place this car at the $20K point, pedigree and standardization.

I know it seems strange but Ford conversions built by Martin or with his kit still get more money that LS powered cars with much more power or non-kit builds. I think it has to do with the "pedigree" of his design going back to the initial attempts at putting V8 power in a Miata by Monster Motorsports in 1993. I'm sure this will change in time as Flyin' Miata builds come up for resale but for now its pretty consistent.

The second factor that may help this car in the $20K area is that it still looks completely stock and has not been customized by anyone. The more personalization someone puts into a V8 Miata the smaller the already small market becomes.

My advice would be to give it a few "modest" mods that can get the power up beyond the stock crank 225 hp. A set of GT-40 heads can be had for under $500 and with a GT40 explorer intake could easily add another 50 to 60 horsepower without having to mess with the tune.

I say put it at $20k and see what you can get. 5 years ago it would easily have pulled that. The people who are looking to buy cars like this are often not as effected by the current economic climate as those who are selling. It's a limited market but also a very limited supply. Remember that and stick to your guns.

-Jason

 

Jason:

Thank you, it is appreciated.

vincesf

 

For what it's worth I've yet to see Jason wrong on anything.

So let's start a numbers pool on what it sells for. I'll put 5 bucks on 14K selling between now and March 1st.

 

Save the $5.00, as I would much rather keep and enjoy the car, then sell it at that $14,000. Of course if my spouse becomes mad at me and sells the car while I am out of town for $1, then I could be eating my words. I always hear about those stories and always hoped to be the recipient of such a giveaway, but never want to be on the other end. Joking aside, if I do sell, it will probably be on the higher range of what has been suggested because of what Jason wrote in his post (pedigree, reliability, condition and low miles) and may wait until Spring. Funny, it's 75 degrees and beautiful today in the SF Bay Area, it feels like Spring, but understand that cold weather is coming in some States, limiting the desirability for a convertible.

vincesf

 

The brakes and suspension are NOT stock but were upgraded with the conversion by Martin. And yes 3,000 miles in 17 years not 9 years.

vincesf

 

Jason,
Not that is makes much difference but I thought the '93 had 205 crank HP?
Your idea for the GT heads and intake make good sense. In folks opinion, would the low mileage (3,000 in 17 years) be a negative due to lack of use and possible rust and seal damage? Still thinkin about options and trying to learn...

 

My opinion; I'd consider Trick Flow and AFR165 heads as another path to 300 wheel HP. And no, my bet is that the car is as clean underneath as it is on top. Very surprised if any rust or other issues due to low mileage. To me it's a huge positive. Of course with any major purchase a close inspection is prudent.

I agree with Jason, $20k range is the appropriate ball park.

 

Remember I said start at $20K, a quick check on Martin's site shows his last California legal car sold for $24k and a current listing of $24K for a legal California car. Anybody that wants to build a California car and get it passed by the B.A.R is not going to get it done on the cheep. I will agree if you live in one of the few normal states then the price goes down. Then again maybe its worth the hassle, I only had the top up once in five years when I got caught in a small rain shower and I drive the car year around.

 

No rust and no leaks. The car has been well cared for, and taken out for regular exercise.

vincesf