The high mileage engine isn’t even the worst part
Scrolling through Craigslist for unique and uncommon cars to share, and I came across this 1988 Honda CR-X DX with over 483,000 miles for sale, the owner asking $8,000 (reduced down from $15,000.)
While the asking price of the CR-X is undeniably the worst part of the ad, there are a few details worth bringing up that point to a larger issue.
This ad is endemic of the 80s and 90s used car market today, and we have online auction sites to blame.
Here’s a screenshot of final sale prices for CR-Xs from Bring A Trailer.
With prices falling between $5,000-$20,000 for these 30-year-old Honda hot hatches, asking $8,000 sounds reasonable, until you scroll down and see what’s actually selling.
The CR-X’s garnering top bids are mostly the more desirable and sportier CRX-Sis or CR-Xs with manual transmissions.
This CR-X for sale on Craigslist is not only a base model DX, at 483,000 miles, it’s sorely in need of a rebuild as evidenced by one cylinder running with low compression.
The fact the seller doesn’t mention if it’s a manual leads me to believe there’s a slush box auto between the engine and half shafts.
More than likely, this seller Google’d “highest selling CR-Xs,” saw a slew of high final bids from the aforementioned BAT listings, and concluded $8,000 is a bargain.
Base models CR-X DXs, especially with that high mileage, should be for sale for between $1,500-$5,000 depending on condition. At the very least, a base model CR-X asking above $2,000 today should be running and driving without any serious issues. Sure, it’s a 33 year old car, but, it’s a Honda.
Thanks to online auction sites fueled and driven by used car shoppers with too much disposable income for their own good and car flippers wanting to make a quick profit, prices for used cars across the board are inflated.
The pandemic isn’t helping the market, either.
Otherwise everyday CR-X owners wanting to unload their older Hondas are now emboldened to stick to their guns, asking thousands more than what they normally would advertise them for.
Asking $8,000 for a beat CR-X, even in this inflated used car market, is too much.
The seller will soon realize that when his ad expires, his e-mail inbox replies mostly spam robots.