A 1990’s roadster people call “cute” is seeing a shocking increase in price. But why?
In 2016, I bought an NA Miata with 126k miles for $3,400. That included an OEM hardtop. That felt a little steep than for the condition.
I checked the Facebook marketplace for an NA Miata. My jaw hit the floor when I saw the insane prices people are asking for these slow little cars.
The entire used car market is increasing in price. However, what the Miata and other JDM cars are seeing for prices is outrageous.
Recent Examples of Miata’s Going For Insane Prices
Sure, there are plenty of examples of pristine NA Miata’s going for over $20,000:
A 1991 Miata with 50,000 Miles went for $18,350: https://bringatrailer.com/listing/1991-mazda-mx-5-miata-129/
A 1995 Miata with 35k miles, no hardtop, and tan interior for $14,500: https://bringatrailer.com/listing/1995-mazda-mx-5-miata-54/
What shocks me is how much a clapped-out, ruined Miata is going for on Craigslist, OfferUp, or Facebook Marketplace.
Just look at some of these laughable prices I got screenshots of:
Reason #1: Decreasing Supply of Miata’s
Mazda made 431,506 MX-5’s for the global market. The United States got over half the supply with 228,961 cars sold.
It’s been 25 years since the last NA Miata was sold. Every day since then, the supply has been dropping. With supply dropping, the price of these cars naturally should go up.
However, plenty of other 90’s era cars go for just a few hundred dollars. There is a lot more to this story.
Reason #2: The Miata is an Iconic Car with a Unique Selling Proposition
Let’s face it, the Miata is a uniquely fun car. Mazda created a reliable, incredibly lightweight, and nimble car that instantly puts a smile on your face.
It’s an engaging car to drive that wants to be pushed to the limits, especially in the canyons and on the track. Sure, it’s no powerhouse, but the driving experience is something that sticks with people for years.
It simply cannot be replicated by another car. Some cars get close, but the legend of the original NA Miata will live on for years to come.
I am not the type of person to look at awards with a close eye, but there is a reason the Miata has won so many. Here are a few key ones:
- Not only did it reach Sports Car International’s “Best Sports Car of the 1990s” but also reached the iconic “Ten Best Sports Cars of All Time”
- None other than Grassroots Motorsports listed the Miata as THE most important sports car made in the last 25 years.
- It reached Car and Driver magazine’s annual Ten Best list a total of fourteen times.
Reason #3: YouTubers Driving Miata Prices Through the Roof
Now, I don’t think the YouTubers are spiking the prices of collectible, pristine examples of special edition Miatas. However, the more average to poor condition Miata’s, social media is the single biggest contributor to their insane prices right now.
Here’s why it’s so successful: The content is relatable, viewers could get the same experience as these youtubers for a fraction of what other cars cost.
Back in the day could pick up a used NA Miata for around $2,000. You had a cheap, RWD convertible you could thrash and enjoy just like what you saw online.
On top of that, parts are cheap and easy to come by since so many Miata’s exist. Not to mention the endless aftermarket support made it fun to upgrade and wrench on with friends.
Since this surge in online Miata content and viewers trying to buy their own Miata, the demand rose significantly and demand continues to drop.
How Much Does an NA Miata Cost?
The price is going to heavily depend on the condition, mileage and modifications.
Checking online a beat up, salvaged title, bad condition paint Miata that might even be automatic but runs, is gonna cost you around $4,000.
The price only goes up from there. Im seeing alright examples of NA Miata’s go for around $6,000. A decently good condition one with a few tasteful mods and a clean title appears to be going for the $8,000-$10,000 range.
Yeah, you read that right. We haven’ty even dove into all the special edition and super low mileage examples that can fetch upwards of $20,000 like we saw above.
It’s crazy to think that these tiny little sports cars which used to be had for $1,000 to $2,000 go for this much.
Is a Miata a Good Investment?
Simply put, yes. A clean, well kept NA or NB Miata should hold its value extremely well. Decreasing supply, an iconic driving experience and social media surging their popularity I say that Miata’s are always going to be popular.
Now, I don’t see you becoming extremely wealthy after buying a couple decent condition Miata’s and storing them in a garage for a few years. But I also don’t see the value of Miata’s rapidly declining in the near future.
In the end: Buy this car to drive that’s what it’s meant to do. I don’t see a reason to stick these cars in a dark garage and let them sit.
Stack on the miles and just hope you can get a similar price or even higher when it comes time to sell it.
Where is the Best Place to Buy a Used Miata?
If you are looking for an NA, NB, or NC Miata the best places to look are Facebook Marketplace, Offerup, and Craigslist.
Be warned, you are going to need to dig through some terrifying examples and spent a lot of time looking for a clean example.
These cars have had a long time on this planet.
Sure some are garage kept by older guys as their weekend car. But a huge amount of these cars have been passed around from teenager to teenager and thrashed with no regard. Zip ties, duct tape and every other hacked fix is something you’ll find on these cars. Who knows the last time they changed the oil or did any maintenance?
You’ll be shocked when you see the prices they want for some of those clapped Miata’s as well.
I find joining Facebook groups is the best place to find better deals from more reputable people. Don’t rush it, just stay on the lookout and learn everything you can about these cars so you can properly inspect them.
I actually did a video about Buying a Used NA Miata a few years ago you can check it out on YouTube:
