993 Depreciation vs Appreciation
03-28-2007, 08:41 PM
#46
Nordschleife Master
Originally Posted by fialho
Interestingly enough, RPM has two 98 C2S that are selling for more than their original sticker price? Is this a sign of prices to come? I wonder if they'll sell for asking price.
03-30-2007, 04:10 PM
#47
Even the newest 993s are now getting old. Specific cars, like flawless,original RPM cars with exceptionally low miles, bring high prices because they are rare and there are enough who want rare, pristine, low-mile cars like that to support the high prices. Your average used 993 is also old but with worn seats and normal wear and tear from driving, possible issues like oil leaks, SAI, windshield creaks, leaks and/or rust (same with rear window) and other old car things going wrong, isn't in the same price league. As icons, 993s in general may hold value better than your average car but when you start talking $30's, $40, and higher, people have many options on the used and new market. A lower mile car in exceptional, original condition with service history and all that stuff will, of course, perform better than one that doesn't have those attributes. And, as a rule, mods aren't going to help your resale value either. As others have said, I think buy to drive and enjoy is the rule to follow. If you drive it, it will cost you but you will be happy and that's what the hobby is supposed to do for us.
One other point to consider...RPM has been in business for years and has built a reputation of selling the best cars for the highest prices. Ray Joesph can probably sell a given car for more than you could sell the same car as a private seller. He doesn't buy them for those prices and most buyers calling you probably won't either.
One other point to consider...RPM has been in business for years and has built a reputation of selling the best cars for the highest prices. Ray Joesph can probably sell a given car for more than you could sell the same car as a private seller. He doesn't buy them for those prices and most buyers calling you probably won't either.
03-30-2007, 04:20 PM
#48
Weathergirl
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Your average used 993 is also old but with worn seats and normal wear and tear from driving, possible issues like oil leaks, SAI, windshield creaks, leaks and/or rust (same with rear window) and other old car things going wrong, isn't in the same price league.
03-30-2007, 04:22 PM
#49
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People pay tens of millions of dollars for a bit of oil on a canvas......why are you surprised at people paying twice as much for a car with 10% of the miles?
03-30-2007, 04:25 PM
#50
Weathergirl
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Originally Posted by DC from Cape Cod
People pay tens of millions of dollars for a bit of oil on a canvas......why are you surprised at people paying twice as much for a car with 10% of the miles?
But it is funny to watch the latter group try to rationalize their purchase in the former context.
03-30-2007, 04:35 PM
#51
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Maybe this will shed some light...
When I bought my current 993, I did not shop with a budget in mind but rather a mental image of the car I wanted. I knew I wanted the best quality 1998 C2S I could find in Silver/Black with factory aerokit. I knew Porsche stopped making these and I wanted as close to a new car as I could reasonably expect to find. I do not have much free time and knew I would not put a lot of miles of the car so it was OK to look for one with low miles as I knew I would not hit 30K anytime in the foreseeable future. A C4S or a 993TT was not in the running, no matter what the cost. My goal was very specific.
Other people shop with different criteria in mind....but enough look for the same things that I did that the value of a car like this will hold up well over time.
When I bought my current 993, I did not shop with a budget in mind but rather a mental image of the car I wanted. I knew I wanted the best quality 1998 C2S I could find in Silver/Black with factory aerokit. I knew Porsche stopped making these and I wanted as close to a new car as I could reasonably expect to find. I do not have much free time and knew I would not put a lot of miles of the car so it was OK to look for one with low miles as I knew I would not hit 30K anytime in the foreseeable future. A C4S or a 993TT was not in the running, no matter what the cost. My goal was very specific.
Other people shop with different criteria in mind....but enough look for the same things that I did that the value of a car like this will hold up well over time.
03-30-2007, 04:41 PM
#52
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Originally Posted by fialho
Interestingly enough, RPM has two 98 C2S that are selling for more than their original sticker price? Is this a sign of prices to come? I wonder if they'll sell for asking price.
03-30-2007, 04:44 PM
#54
Rennlist Member
It's truly hilarious to see people argue with others who are trying to agree with them...
03-31-2007, 01:05 AM
#57
I've been away and am just getting back. Well I have to say that I purchased my C4S from RPM a few months ago. Ray's cars are about as perfect as they get. Everyone has their own criteria for selecting thier 993. I went with the best example I could find for my budget as many here have suggested.
But with regards to this thread, and depreciation vs. appreciation, it seems as though sellers like RPM can obtain top dollar for prestine vehicles based on their rep. In some cases they may fetch more than original factory sticker price or close to it. I agree a 993 is not an investment by any means, but it does appear that the prestine and low mileage cars are not depreciating but rather appreciating, especially as they become more rare. I don't think these cars were selling for these prices 5 years ago were they?
But with regards to this thread, and depreciation vs. appreciation, it seems as though sellers like RPM can obtain top dollar for prestine vehicles based on their rep. In some cases they may fetch more than original factory sticker price or close to it. I agree a 993 is not an investment by any means, but it does appear that the prestine and low mileage cars are not depreciating but rather appreciating, especially as they become more rare. I don't think these cars were selling for these prices 5 years ago were they?
04-22-2007, 12:38 AM
#58
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Originally Posted by John Velasco
It is amazing to me how afraid of mileage people are. I still have my C4s for sale and I have been dropping the price, but to no avail (41,000.00) and it only has 70,000 miles. It is in excellent shape but it is also white. So it is hard to determine what the market will bear.
jv
jv
I here ya. I have a 97 C2S with just about 62k miles and I have the price down to $45,900 and still no bites. I would think black on black is desirable. At this point I am leaning towards keeping it, such a classic.
04-22-2007, 12:45 AM
#59
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Originally Posted by Jastx
Even the newest 993s are now getting old. Specific cars, like flawless,original RPM cars with exceptionally low miles, bring high prices because they are rare and there are enough who want rare, pristine, low-mile cars like that to support the high prices. Your average used 993 is also old but with worn seats and normal wear and tear from driving, possible issues like oil leaks, SAI, windshield creaks, leaks and/or rust (same with rear window) and other old car things going wrong, isn't in the same price league. As icons, 993s in general may hold value better than your average car but when you start talking $30's, $40, and higher, people have many options on the used and new market. A lower mile car in exceptional, original condition with service history and all that stuff will, of course, perform better than one that doesn't have those attributes. And, as a rule, mods aren't going to help your resale value either. As others have said, I think buy to drive and enjoy is the rule to follow. If you drive it, it will cost you but you will be happy and that's what the hobby is supposed to do for us.
One other point to consider...RPM has been in business for years and has built a reputation of selling the best cars for the highest prices. Ray Joesph can probably sell a given car for more than you could sell the same car as a private seller. He doesn't buy them for those prices and most buyers calling you probably won't either.
One other point to consider...RPM has been in business for years and has built a reputation of selling the best cars for the highest prices. Ray Joesph can probably sell a given car for more than you could sell the same car as a private seller. He doesn't buy them for those prices and most buyers calling you probably won't either.
04-22-2007, 12:51 AM
#60
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Originally Posted by DC from Cape Cod
Maybe this will shed some light...
When I bought my current 993, I did not shop with a budget in mind but rather a mental image of the car I wanted. I knew I wanted the best quality 1998 C2S I could find in Silver/Black with factory aerokit. I knew Porsche stopped making these and I wanted as close to a new car as I could reasonably expect to find. I do not have much free time and knew I would not put a lot of miles of the car so it was OK to look for one with low miles as I knew I would not hit 30K anytime in the foreseeable future. A C4S or a 993TT was not in the running, no matter what the cost. My goal was very specific.
Other people shop with different criteria in mind....but enough look for the same things that I did that the value of a car like this will hold up well over time.
When I bought my current 993, I did not shop with a budget in mind but rather a mental image of the car I wanted. I knew I wanted the best quality 1998 C2S I could find in Silver/Black with factory aerokit. I knew Porsche stopped making these and I wanted as close to a new car as I could reasonably expect to find. I do not have much free time and knew I would not put a lot of miles of the car so it was OK to look for one with low miles as I knew I would not hit 30K anytime in the foreseeable future. A C4S or a 993TT was not in the running, no matter what the cost. My goal was very specific.
Other people shop with different criteria in mind....but enough look for the same things that I did that the value of a car like this will hold up well over time.
Same with my 1999 Ferrari 360 Modena. It had 26k miles, just serviced at dealership, got it for under $105k when others with 10k to 20k miles are selling for $120-$140k. Meant to be driven, plus those garage queens have more issues sitting around.
Just my way of looking at cars.