Just a few days ago we told you about one person who bought a 2023 Honda Civic Type R and had already put it up for auction. What makes that noteworthy is that they were hoping to at least get their money back after paying a confirmed (from the window sticker) $20,000 markup. It turns out that when one pays such a big sum over sticker price, getting that cash back might be a bigger challenge than expected.
The auction site Cars & Bids heralded this Type R as the first of its kind on the site and many of us sat back as spectators just to see what kind of cash this car would bring. Hot hatchbacks are all the rage right now and many consider the Type R to be at the top of the pile. It seems that the seller certainly felt that way. The window sticker indicates a final price of $67,678.95 on a car with an MSRP of $42,895.
When we first reported on the auction, the car had a $47,000 bid on it. It never climbed any higher than $49,000 before the final buzzer. At least for now, the seller has a chance to try their hand again though because the bid didn’t meet their reserve.
More: First Auctioned 2023 GR Corolla Sells At A Loss For Owner
Of course, we don’t know what that minimum price is, but for now, the seller avoided what could’ve been a loss of $18,678. That’s the opposite of what evidently happened with a GR Corolla seller who last week reportedly lost money on a sale despite off-loading his car for $8,500 over MSRP. Evidence suggests that these examples are only the tip of the iceberg when it comes to automotive pricing.
A recent study showed that used-car pricing has dropped each of the last four months with a decline in pricing year over year in the last two months. The comment section on the Type R auction seems here for that kind of change too. “We are witnessing the ‘Great Correction’. Market is coming back down to reality,” said one person.
Another, LastandDelirious, gets full marks for a great comment that was the impetus for our title today: “Tomorrow’s Carscoops article title: ‘Civic Type R flipper finds out the hard way that his car is worth half of what he bought it for.'” We couldn’t have said it better ourselves.
