I have bought and sold quite a few MX5 Mk3s over the last 18 months and they are starting look like real value for money. They are not as raw as a Mk1 but as a car that is special enough to use only at weekends and holidays or one that its competent enough to be able to use every day, the Mk3 fits the bill nicely.
However they can rust badly and we've seen some real horrors out there so you need to tread carefully. I have a buyers guide to this model coming soon.
There was a big development in Japan recently, one that attracted a fair bit of attention in the press but I'm not sure many appreciated the ramifications of this. The news was that Mazda are about to start restoring the Eunos in-house in Japan. Its a service that's only going to offered in Japan - for now. I've already heard stories about various businesses around the world being asked to re-manufacture certain key parts (such as soft tops, Nardi wood-rimmed steering wheels).
Around 120,000 Mazda Eunos were originally sold in Japan but Mazda reckon there are only 23,000 left there. The upshot of this appears to be that used prices at auctions in Japan rising significantly. For importers like us, its going to make it very difficult (ie expensive) to continue to bring cars over from Japan at anything like the prices recently charged. Three years ago, a decent example of a good freshly imported Mk1 could be bought from us for around £3750. That price will be nearer £5000 now - and its still rising. Prices for good examples already over here in the UK have continued to rise - and will carry on doing so. There's anecdotal evidence that the boy racer chaps are moving away from MX5s and on to the next big (daft) thing, as the rougher examples continue to be modified to death, crashed or simply rust away.
On the bright side, we still have a few fresh imports available including:
1994 Eunos 1.8 in Laguna Blue. £4995
1997 Eunos 1.8 V-Special in Black with tan leather. £5995
1995 Eunos 1.8 R-Ltd in Chaste White with red leather. £6995.
As prices for good MK1s climb, potential buyers have started looking at Mk2s instead. These are still available in huge numbers and are about as cheap as they'll ever get. However, rust is a major issue and arguably much worse than it ever was on a MK1. Even so a high spec rust-free MK2 is just superb to drive.
As ever, I'm still using Facebook to give regular and quick news updates so please check out my pages on there: there are links on the 'Links' page here.