It’s not very often that we get to see a Honda Civic have a similar asking price to a used Italian supercar. However, that’s exactly the case with this ultra-rare Mugen RR model listed for sale in the UK for $127,000. As you might imagine, a Civic that commands this type of price tag has to be a special edition of a special edition. That’s exactly what the Mugen RR is. Furthermore, it was developed completely in-house by Honda’s tuning division, Mugen.

According to a listing covered by The Drive, the main reason why this car’s value is so extremely high comes down to its rarity. In fact, with just a few hundred examples for the entire globe, chances are we’ll never see one. However, does that make it worth more than a supercar?

Is this Honda Civic Mugen RR worth $127,000?

To understand this Honda Civic’s value, we need to know exactly what it is. The Mugen RR is based on the FD2 Type R, which never made it to the U.S. market. According to The Drive, only 300 of these cars ever left the factory, effectively making it one of the rarest cars sold. For a bit of context, a very rare Impreza 22B with a similar production run recently sold for over six figures on Bring A Trailer.

Since this car is part of a tiny production run, all existing examples have the same exact configuration. This means you get a Milano Red exterior, Recaro bucket seats, and 18-inch black wheels. In terms of exterior upgrades, the Mugen RR gets a carbon-fiber rear wing, carbon-fiber bumpers, and an aluminum hood. All in all, this version is about 30 lb lighter than a standard Type R.

Whether or not this car is worth its price tag comes down to what you plan to do with it. With such a low production run, this is essentially a collectors car. Given its in-house development and rarity, it might justify its price tag.

Under its hood lies a slightly upgraded engine

One thing that certainly won’t justify this Honda Civic’s price tag is its engine. With such a low production run and high valuation, you’d expect there to be massive upgrades under the hood. However, the Mugen RR features the same 2.0-liter engine found in the Type R.

However, a tune, Mugen camshafts, and a new exhaust system bump the power output from 222 hp to 237 hp, says The Drive. As a result, you’re not getting an ultra high-performing one-off for your extra money. As mentioned earlier, this car’s value is directly tied to its rarity.

This ultra-rare Honda Civic has covered just 32,899 miles

If this rare Honda Civic looks brand-new in the photos embedded above, that’s because it basically is. Despite being a 2007 model, it’s covered just 32,899 miles. As The Drive states, the car had sat in storage for the last few years before it was listed for sale. This is car number 24 of 300 and includes all its original handbooks, service records, and RR owner’s wallet. So if you’re a fan of the Civic and have six figures to spend, this might could be an integral part of any collection.