Feedback on article I wrote..
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Feedback on article I wrote..
Here is a link to an article I wrote. Just wanted a little feedback.
http://web.tampabay.rr.com/vvs/vvs%20reports.htm
Here is a copy if you do not want to click the link.
James
VVS reports 1-1, Magic 20K
Inspired by Richard S. Chang, currently of Urbanracer.com (Fumes), I decided to begin writing articles relating to my experiences from my appraisal company, Sportcompactvalue.com, and my involvement in the sport compact industry. I am not sure how frequent I will "publish" such articles; I will see what sort of feedback I get and proceed from there.
Along with my enjoyment from reading Fumes, I have noticed something interesting since purchasing a S2000 a few months ago and got motivate to report my findings. A lot of this is common sense if you sit down and think, however I have not read it anywhere else yet so I will be the expert. I was browsing through the current issue of Honda Tuning in an effort to keep up on things in the market (No this is not all I do to keep up) and noticed an influx on S2000s featured in advertisements. This of course after a few S2000s were featured in a few other trade magazines over the past few months. At first I thought I was noticing more S2000s since I own one and now make it a point to take notice. I do not think that is the case here. There is a trend here and it has gone on for some time with other vehicles. It seems that the Sub-$20,000 mark is a magic number for many enthusiasts to get involved in this market. I am not sure who pegged this amount as the number. I believe it is simply basic supply and demand. Either way it seems that as many of the cars that some of us dreamed of owning drop into this price range demand for such vehicles are on the rise. I have noticed many "younger" owners of S2000s than ever before. Early model S2000s can be had for well below $20,000 depending on mileage and condition. There are also other vehicles that fall into this range but for the sake of discussion we will stick with the S2000.
Being a member of SEMA I have access to much research data. In reviewing the 2003 Compact Performance Industry Update it notes 65.5% of compact performance vehicles are purchased used. While reviewing the 2004 Trends and Forecasts report I noted that there is an increasing trend in car leasing. With this it is predicted that there will be many quality low mileage used vehicles available when these lease agreements end. Based on my review and combining this data it appears there will be adequate demand for this trend to continue. On a side note, new vehicle competition has drove vehicle manufacturers to produce vehicles that have "bang for the buck," in my opinion, to fall into this sub-$20,000 market (Dodge Neon SR-T for example). I feel strong that you will continue to see this trend. Possibly even an upward shift from the sub-$20,000 mark as the likely age of owners in this market increases along with income.
This is a demand driven market. Since purchasing the S2000 I have been in the market for performance parts. I am frustrated to find the lack of parts suppliers for this specific vehicle right now. It seems there are only a handful of suppliers and in some cases a huge delay for them to acquire parts and get them to you. Most of the parts have to be shipped overseas. It is sometimes cool to say I had to wait for this part to come from Japan, however it gets old after while.
Patience will pay off. I may have gotten into this vehicle a little too quick. I paid a little over $20,000 for a 2002 so it has not dropped below the sub-$20,000 magic mark yet. So once my vehicles value drops below $20,000 there should be parts, right? I have a positive outlook given the increasing coverage the vehicle is getting. You will now even get to see a few S2000s on the drift scene with RS-R and AEM featuring cars for drift events. This trend can be seen (or read for that matter) on many of the Internet forums and is true for other vehicles, not just the S2000. Sticking to my roots I will throw out another family name, NSX, specifically the late model NSX. That is another whole article, maybe next time.
Hopefully soon I will be able to get some wheels for the car and not have to choose from only 4 or 5 manufactures. As this trend continues and demand increases for the car there will be many parts available including knockoffs (lets not go there). Take note if you're a part supplier or manufacturer and get on the ball so you do not miss out.
James Luedde, Appraiser/Owner, Vehicle Valuation Solutions, Inc.
11/24/2004
mailto:info@sportcompactvalue.com
http://web.tampabay.rr.com/vvs/vvs%20reports.htm
Here is a copy if you do not want to click the link.
James
VVS reports 1-1, Magic 20K
Inspired by Richard S. Chang, currently of Urbanracer.com (Fumes), I decided to begin writing articles relating to my experiences from my appraisal company, Sportcompactvalue.com, and my involvement in the sport compact industry. I am not sure how frequent I will "publish" such articles; I will see what sort of feedback I get and proceed from there.
Along with my enjoyment from reading Fumes, I have noticed something interesting since purchasing a S2000 a few months ago and got motivate to report my findings. A lot of this is common sense if you sit down and think, however I have not read it anywhere else yet so I will be the expert. I was browsing through the current issue of Honda Tuning in an effort to keep up on things in the market (No this is not all I do to keep up) and noticed an influx on S2000s featured in advertisements. This of course after a few S2000s were featured in a few other trade magazines over the past few months. At first I thought I was noticing more S2000s since I own one and now make it a point to take notice. I do not think that is the case here. There is a trend here and it has gone on for some time with other vehicles. It seems that the Sub-$20,000 mark is a magic number for many enthusiasts to get involved in this market. I am not sure who pegged this amount as the number. I believe it is simply basic supply and demand. Either way it seems that as many of the cars that some of us dreamed of owning drop into this price range demand for such vehicles are on the rise. I have noticed many "younger" owners of S2000s than ever before. Early model S2000s can be had for well below $20,000 depending on mileage and condition. There are also other vehicles that fall into this range but for the sake of discussion we will stick with the S2000.
Being a member of SEMA I have access to much research data. In reviewing the 2003 Compact Performance Industry Update it notes 65.5% of compact performance vehicles are purchased used. While reviewing the 2004 Trends and Forecasts report I noted that there is an increasing trend in car leasing. With this it is predicted that there will be many quality low mileage used vehicles available when these lease agreements end. Based on my review and combining this data it appears there will be adequate demand for this trend to continue. On a side note, new vehicle competition has drove vehicle manufacturers to produce vehicles that have "bang for the buck," in my opinion, to fall into this sub-$20,000 market (Dodge Neon SR-T for example). I feel strong that you will continue to see this trend. Possibly even an upward shift from the sub-$20,000 mark as the likely age of owners in this market increases along with income.
This is a demand driven market. Since purchasing the S2000 I have been in the market for performance parts. I am frustrated to find the lack of parts suppliers for this specific vehicle right now. It seems there are only a handful of suppliers and in some cases a huge delay for them to acquire parts and get them to you. Most of the parts have to be shipped overseas. It is sometimes cool to say I had to wait for this part to come from Japan, however it gets old after while.
Patience will pay off. I may have gotten into this vehicle a little too quick. I paid a little over $20,000 for a 2002 so it has not dropped below the sub-$20,000 magic mark yet. So once my vehicles value drops below $20,000 there should be parts, right? I have a positive outlook given the increasing coverage the vehicle is getting. You will now even get to see a few S2000s on the drift scene with RS-R and AEM featuring cars for drift events. This trend can be seen (or read for that matter) on many of the Internet forums and is true for other vehicles, not just the S2000. Sticking to my roots I will throw out another family name, NSX, specifically the late model NSX. That is another whole article, maybe next time.
Hopefully soon I will be able to get some wheels for the car and not have to choose from only 4 or 5 manufactures. As this trend continues and demand increases for the car there will be many parts available including knockoffs (lets not go there). Take note if you're a part supplier or manufacturer and get on the ball so you do not miss out.
James Luedde, Appraiser/Owner, Vehicle Valuation Solutions, Inc.
11/24/2004
mailto:info@sportcompactvalue.com
