Following its debut at the Chicago auto show Mazda's much-anticipated Miata went on sale to US buyers in April 1989, whilst the Japanese Eunos model was launched in September that year. British buyers didn't get their hands on the Mk1 MX-5 until February 1990, however.
Those first UK cars came with a 118hp 1.6-litre twin-cam and an asking price of just £14,250. And although the new car was well received and demand was high, some felt the fledgling Roadster needed an extra dose of power - which was eventually provided in 1991 by UK tuners Brodie Brittain Racing (BBR). They were commissioned by Mazda to produce an officially-approved bolt-on 152hp £3,700 turbocharger conversion which cut the standard car's 0-60mph time down from 9.0 seconds to 7.2 seconds. In Japan Mazda's official tuner MazdaSpeed produced a supercharged model.
Available as a five-speed manual (and a four-speed auto in Japan) Mazda also released a 130hp 1.8-litre UK model in 1993. This 1,798cc version delivered a maximum of 112lb ft of torque at 5,000rpm, but this was enough to enable the 990kg MX-5 to hit 60mph in 8.2 seconds. With a price tag of £15,495 demand was high, especially as the power output of the original 1.6-litre car was reduced in 1995, with an accompanying price reduction to £13,995.
The Mk1 MX-5 soon became a favourite on track too, and with durable engines and transmissions eventually developed into a popular base for modifications. In addition many Eunos Roadsters have since been imported from Japan. By the time the second-generation MX-5 arrived in 1998 over 10,000 UK examples had already been sold.
Nearly 20 years later and most Mk1 models are now kept for special occasions, with fewer and fewer cars appearing for sale in the classifieds. And no wonder: "Tidy Mk1 models are now appreciating in value quickly," confirms Neil Mckay at MX-5 tuners BBR GTI. "And with the recent drop in the value of the pound Japanese Eunos imports are now at least 30 per cent more expensive, which makes these currently a less attractive choice than a well looked-after, UK, garaged summertime car."
With its low weight and less assisted driving experience, the Mk1 tends to be preferred by classic enthusiasts, but limited supply means these days they don't seem to mind whether the car is a UK original or a Eunos import. "There have been a lot of grey imports Mk1 cars from Japan and values for those traditionally lagged behind the UK-supplied cars, but lately they have caught up with them," reports Robert Redman at trade gurus Glass's.
As you would expect, the most sought-after cars are those in best condition, especially the various limited run UK special editions like the Le Mans, rare JDM special editions and original-condition BBR turbos - especially those with optional OZ wheels. "The lowest production number special editions are most likely to garner long-term classic appeal, with a unique colour or trim such as the California, Harvard and the later Berkeley," Neil emphasises. And Andy Pearson at MX-5 Parts agrees: "The Mk1 is already a classic car, particularly specials like the Le Mans.'"
Buy if: you fancy a classic appreciating Mazda that's great to drive
Don't buy if: you really want a regular track car or a daily driver
We found: 1990 Silver 1.6, full service history, 72k miles, £2,995
Price Guide
Poor: Under £2,000
Good: £2,000 to £4,500
A1: £4,500+
Special Editions: Original low-mileage BBR Turbos can fetch £10,000