The K-shaped economy we're currently living in has turned the world into an all-inclusive resort for the ultra-rich while the rest of us are the employees who keep the place running. Wealthy folks have been driving car prices up for a long while, but one of the most intriguing trends we have noticed here at Jalopnik is the explosion in the market for low-mileage, normcore cars. I say normcore because they're cars you wouldn't expect to see preserved by anyone, like a 1992 Geo Storm shooting brake or a 2002 Toyota Camry. Along those lines, we noticed that a nine-year-old Fiat 500C Abarth with about 6,000 miles just sold for the eye-watering sum of $45,507 on Bring A Trailer, and we want to know why.
To be fair, this particular Celeste Blu 500C Abarth is fitted with the five-speed manual transmission, and it's so clean it looks like it just rolled out of FCA's Toluca, Mexico assembly plant, but I'm still not convinced that it's worth practically double its original MSRP of $24,220. Judging by the auction winner's past wins that include a nearly $1 million Singer, they land in the ultra-wealthy category, so they probably hardly even noticed the $45k transaction.
The 500C Abarth is a characterful car, but I'm not sure about that price
The 500C Abarth, especially when equipped with a manual transmission, is a unique offering in the modern automotive market. Its spunky demeanor paired with an engaging manual transmission and a cloth top are a rare combination of traits, but I'm just not sold on that $45k price for an out-of-warranty Italian car that's nearly 10 years old, even if it has only been driven about 600 miles per year.
At that price, you could have a brand new Mini Cooper JCW convertible if you want a zesty performance ragtop, or if an engaging driving experience is the highest priority, a brand new Hyundai Elantra N, or even a used Honda Civic Type R or BMW M2 are comparably priced. As a Mini owner, I love a cheeky little fun machine as much as anyone, but I would hesitate to spend such a significant sum on a 10-year-old Fiat.
The Fiat 500C Abarth is fitted with a turbocharged 1.4-liter four-cylinder engine that was rated at 160 horsepower and 170 pound-feet of torque when new. In Car and Driver testing of a 2013 model, it returned a best 0-to-60 time of 7.3 seconds, but the best thing about the car was its rowdy exhaust note provided by its mufflerless factory exhaust. Its small size gave it eager, darty handling, but the Ford Fiesta ST was widely regarded as a superior dinky driver's car. Would you spend $45,000 on an ultra-clean, ultra-low-mileage Fiat 500C Abarth?