Like all other classic Japanese models, the Mitsubishi Lancer EVO 5 has jumped in price in recent years as collectors target the best, low km examples and supply has dwindled in Japan.
This provides a sense of how few good cars are actually left when you look closely at the condition of what’s on offer – one per month on average, if you’re lucky.
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Reviewing the last 3 months of sale prices from the USS auctions where many of the best vehicles are sold, there were only 21 EVO 5’s sold in that period.
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Only 6 of these were grade 4 or above – the rest had lower grading or past accident repairs.
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The price range for those 6 better examples was 1 to 2 million Yen at auction, or about $20,000 to $34,000 complied (@ 83 Yen to the dollar), plus tyres and ORC’s – once import costs are factored in.
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Bear in mind that anything cheaper than that will be repaired, rusty, and / or in generally poor condition, and even graded 4 cars can still be quite rusty or otherwise not worth buying.
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The cost of repairing poor condition vehicles can often outweigh buying the genuine thing up front.
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For anyone serious then about owning a clean, low km EVO 5 before it’s too late, as of June 2018 we would suggest budgeting from about $28,000 complied for a nice example – but be prepared to spend up to $40,000 complied for something of museum quality with very low km.
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Don’t forget, this is just a snapshot in time with prices constantly moving upwards on these and other collector models.
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Shown below are four of the best EVO 5 examples from the last 3 months of auction sales across Japan, to give you a better idea of what this budget will buy you (@83 Yen to the dollar).
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1998 Mitsubishi Lancer EVO 5, grade 4 B, yellow, 78,687 km
Sold for approx. $26,000 complied, plus tyres and ORC’s
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1998 Mitsubishi Lancer EVO 5, grade 4.5 B, white, 31,648 km
Sold for approx. $33,400 complied, plus tyres and ORC’s
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1998 Mitsubishi Lancer EVO 5, grade 4 C, silver, 53,185 km
Sold for approx. $24,000 complied, plus tyres and ORC’s
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1998 Mitsubishi Lancer EVO 5, grade 4 C, white, 108,300 km
Sold for approx. $20,500 complied, plus tyres and ORC’s
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