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[Bad News] The Honda S2000 Used Market is Completely Glitched! The Tragedy and Despair Caused by the Looming AP2 Export Rush.

ミッドナイトブルーを基調としたS2000のクローズアップ。文字「美しき暴騰、あるいはバグ。」の下には、ノイズがなく、一筋だけデジタルエラーが走るアイキャッチ

Hey, you there. Are you dreaming a sweet dream like “I want to drive an S2000 someday”?
Take my advice: throw that dream out the window right now.
The skyrocketing prices of the S2000 in the Japanese used car market are no longer in the realm of a “hobby”—they are in the realm of “madness.”
Today, as someone who has thoroughly researched the latest market data, I’m going to shove this cruel reality in your face.


Market data screenshot
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Despair: Even AP1 Bottom Prices Exceed 2 Million Yen (Some Units at 2.6x Original Price!?)

I’ve pulled this data from Goo-net as of March 15th. Please forgive any minor errors.

The current total circulation is only about 153 units.
The average price for an AP1 is “approx. 4.28 million yen,” and for the AP2, it reaches a staggering “approx. 5.95 million yen.”

The original new price of the 1999 early model was “approx. 3.38 million yen.” Compare that to the current highest price of “8.81 million yen.” That’s roughly 2.6 times the original price.
Even if you convert the 3.38 million yen of that era to today’s inflation value (approx. 3.7 million yen), the premium is completely insane.

  • Current Status of AP1 (2.0L Model)
    • Units in circulation: 136
    • Highest Price: 8.81 million yen (2000 model / 3,000km mileage — a miracle unit)
    • Lowest Price: 1.848 million yen
  • Current Status of AP2 (2.2L Model)
    • Units in circulation: 61
    • Highest Price: 8.70 million yen (2008 model Type S)
    • Lowest Price: 3.43 million yen

Market search results

Let me tell you an even more cruel fact.
“I should be able to buy a beat-up unit with over 150,000km and a repair history for cheap.”
I used to think that too. But here is the reality of the bottom-tier prices I found crawling through the lower limits of CarSensor.

“2000 AP1 / 216,000km / With Repair History → Base Price 2.18 Million Yen”

A car from over 20 years ago that has been in an accident and has circled the Earth more than five times is more expensive than a brand-new Kei-car. This is the reality of the JDM sports car market today.

It’s safe to assume there are numerous parts needing repair. It’s not something you can just casually buy. I absolutely cannot recommend this to beginners.

More market data

Do You Know the North American Frenzy? The “200,000 Dollar Incident”

Domestic prices are still “cute” compared to the rest of the world.
Let me tell you the record-breaking bid on the American auction site “Bring a Trailer.”

In April 2022, a 2009 AP2 S2000 CR with only 123 miles (approx. 200km).
The winning bid was $200,000 (over 26 million yen at the time)!!
Did they mistake it for a Ferrari or something? It’s a playground for buyers whose sense of money has completely glitched out.

The Countdown of Despair: AP2 “25-Year Rule” Opens in 2029

And the final blow for us is the American “25-Year Rule.”

As mentioned in my previous post, the 25 and 35-year marks are major turning points.
Cars cannot be imported into the US until 25 years have passed since production. The AP2 (2004 onwards) will fully open up starting in 2029.

Currently, early AP1 models are being exported, but what happens after 2029?
The rare AP2s remaining in Japan will be snatched away one by one to America by overseas buyers with insane capital. Domestic stock will dry up, and prices might become 1.5 or even 2 times what they are now.

Thoughts from This Investigation

After thoroughly researching the S2000 market and pounding away at my calculator, I’ve reached a certain truth.

The young people without money should be the ones enjoying these cars by buying them cheap used, yet only “old guys” with excessive cash can afford them… what a sad reality.

The 9,000 RPM roar and razor-sharp handling used to be a “privilege of youth” reachable by pouring in part-time job earnings. But now? The numbers on the screen mock the passion of youth, already surpassing the prices of ordinary family cars.

Analyzing it logically, this price might be the “correct answer” in a situation where the balance of supply and demand is broken and overseas investors are hitting each other with stacks of cash. But my emotions refuse to accept it.

“Cars are not for decorating. They are for driving.”

This simple truth fades in the face of money. A car bought by an “old guy” (no offense) just to let it rot in a garage as an asset. If that is the “current location” of the S2000, there is no bug report more hollow than this.

The reason I keep gripping the S2000 key, even after losing 4kg to Norovirus and feeling lightheaded. It might be my last stand against this car becoming “just an asset.”

“Me who won’t sell, vs you who buys—a never-ending double suicide.”

While looking sideways at the glitched market, I continue to race beyond the VTEC with my veteran soldier (AP1). To the youth, I’m sorry. But including this desperate reality, I cannot help but love the “madness” known as the S2000. Period.


Author of this article

Mid-life salaryman by day, surviving the pharmaceutical trenches with logic. But the moment I step out, I’m a "fanatic" devoted to my S2000. 20 years together—VTEC kick is pure ecstasy.

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