993 market values - up/down/sideways?
09-01-2016, 02:54 PM
#46
+1
Also got my car about less than a year ago, I think the best part of the ownership is be able to work on the car myself, either fixing the car or improving it! who knows what's going to happen in the years to come, but at least I'm enjoying it now! =)
Also got my car about less than a year ago, I think the best part of the ownership is be able to work on the car myself, either fixing the car or improving it! who knows what's going to happen in the years to come, but at least I'm enjoying it now! =)
09-01-2016, 04:52 PM
#48
Just sold my 993, black with grey leather, 6 speed, 124k miles. The car was very clean and the interior looked new after a bit of detailing, all the services were complete and no leaks or issues, $45,000.
09-01-2016, 06:28 PM
#49
Nordschleife Master
i sold my 993 because i was lusting for Porsches most modern naturally aspirated GT car. the 997 gt3 was a delight and i wish i still had it. I liked it so much that I figured the 991 gt3 would be even better. In many ways it was. I enjoyed it a lot. So I figured if I liked GT3s, I would really like an RS. Well of course there is nothing about the RS that is BAD, but for the big money that it cost, I am not sure one can extract a difference between the GT3 and RS on the street. For the most part I don't track my cars. So other than a more aggressive look, the RS was a bit wasted on me on the street. What I would really love is the 991 R, because it gets all the good bits in a street package. But alas, no way to get one. So through this process I learned a couple things. 1) I really missed the 993 and I don't plan to sell again. 2) GT3 is the sweet spot for me for spirited street driving. RS too much. So when the .2 GT3 comes out, I will get one, likely stick.
09-01-2016, 06:38 PM
#50
The 993 market exploded along with the rest of the Porsche market because in general; a car is the most visible luxury item that you can own. You can't walk around showing people your house everyday.
Why the 993 market skyrocketed:
1) Crazy amounts of quantitative easing
2) Stock market headed to the moon
3) Government regulations limiting the future supply of naturally aspirated cars using the same motors that were raced. In the past there was always a newer, better Porsche or at least the feeling that someday there probably would be. These days many of us feel the newer cars really aren't better in a number of ways and the odds that Porsche is going to still create one in 5-10 years that we'll have reasonable access to are slim to none.
Why it's cooling off:
1) Feelings that the market has peaked.
2) Crash in the EURUSD exchange rate leading to European buyers leaving the US buyer's market.
3) The writing on the wall that electric - drive themselves cars are coming. Probably shortly after that they make these cars illegal to drive when a 993 owner kills a minivan of refugees being driven around by iGoogle.
4) Millennials simply don't care about cars as much as the earlier generations. I am one and most of my peers couldn't care less about cars past the luxury-good aspect.
I expect the 993 market will go sideways or dip lower as #4 becomes more and more obvious until they're inevitably banned from public roads and prices crash.
Why the 993 market skyrocketed:
1) Crazy amounts of quantitative easing
2) Stock market headed to the moon
3) Government regulations limiting the future supply of naturally aspirated cars using the same motors that were raced. In the past there was always a newer, better Porsche or at least the feeling that someday there probably would be. These days many of us feel the newer cars really aren't better in a number of ways and the odds that Porsche is going to still create one in 5-10 years that we'll have reasonable access to are slim to none.
Why it's cooling off:
1) Feelings that the market has peaked.
2) Crash in the EURUSD exchange rate leading to European buyers leaving the US buyer's market.
3) The writing on the wall that electric - drive themselves cars are coming. Probably shortly after that they make these cars illegal to drive when a 993 owner kills a minivan of refugees being driven around by iGoogle.
4) Millennials simply don't care about cars as much as the earlier generations. I am one and most of my peers couldn't care less about cars past the luxury-good aspect.
I expect the 993 market will go sideways or dip lower as #4 becomes more and more obvious until they're inevitably banned from public roads and prices crash.
I think Germany is looking to implement a zero emissions policy in the not too distant future and Porsche (and everyone else) will have to adjust.
Possible dark days ahead for petrol heads looking at a new cars.
09-01-2016, 06:46 PM
#51
I mentioned this on another thread.....values people are asking just seem to be all over the place
For example there seems to be a range of about 50 - 60K for C4/C2 with ~70K miles if I look on autotrader. However, I wonder if they are just unrealistic asks from people doing quick flips or trying to make a buck. Im guessing they are all over prices by about $5K but no idea as I have not tried to sell one
The prices people are asking appear to be consistently $10k ahead of the range quoted in the Porsche "Excellence" figures, but below the haggerty figures
For example there seems to be a range of about 50 - 60K for C4/C2 with ~70K miles if I look on autotrader. However, I wonder if they are just unrealistic asks from people doing quick flips or trying to make a buck. Im guessing they are all over prices by about $5K but no idea as I have not tried to sell one
The prices people are asking appear to be consistently $10k ahead of the range quoted in the Porsche "Excellence" figures, but below the haggerty figures
09-01-2016, 08:13 PM
#52
Rennlist Member
I plan to keep my c4s until I am old and can't push the clutch pedal In. Figure that values will probably rise just enough to cover the cost of keeping the car running and frankly , in 15 more years- mileage will not be an issue- originality will be key- and of course the super low mile originals we be and currently are worth a fortune- but that's not my car and I think I am in the majority. 109k on my car- been kept up and runs as strong as any 993 out there. Plan to keep it that way
09-01-2016, 08:48 PM
#53
Rennlist Member
I purchased my 2 owner 96 C2 Coupe, Exc. Condition no stories with 47k mikes 5 or so years back for $32k. I have several kids all in private schools have a stay at home wife for over 2 decades, the fact that I was able to pull off a 993 was at the time monumental in my mind. Fortunately things with our business have taken off and financially things are better than I could of expected, I have had a few offers but would not consider selling the 993 C2. A wide body or turbo car really do not interest me since I have my car exactly as I want it, nothing else out there interests me either, the 911 in my mind as a young man was the pinnacle. Guys......we are damned fortunate to have them, remember that......
09-01-2016, 10:39 PM
#54
Rennlist Member
They're correcting. They overshot. Especially the common stuff.
Here's my reasoning for the run up....
Everything is overpriced. Everything. Nails, food, stuffed animals, windshield wipers, you name it, it's expensive. It costs a lot of dollar bills just to live now. Nothing like I've ever seen.
Porsches just caught up with everything else. That's all. Nothing fancy. In doing so they overshot a bit.
Anything that hasn't shot up in past years is a good investment now. MG's. Old cars that's not come up.. etc.. stuff that's remained the same for years. It'll come up as well. It's all gotta come up to catch up. The question is...will you live long enough? What I'm really calling it is inflation.
Per the thread title...I do not believe any of them will come down near as much as they've come up. But, they'll exhale..
Here's my reasoning for the run up....
Everything is overpriced. Everything. Nails, food, stuffed animals, windshield wipers, you name it, it's expensive. It costs a lot of dollar bills just to live now. Nothing like I've ever seen.
Porsches just caught up with everything else. That's all. Nothing fancy. In doing so they overshot a bit.
Anything that hasn't shot up in past years is a good investment now. MG's. Old cars that's not come up.. etc.. stuff that's remained the same for years. It'll come up as well. It's all gotta come up to catch up. The question is...will you live long enough? What I'm really calling it is inflation.
Per the thread title...I do not believe any of them will come down near as much as they've come up. But, they'll exhale..
09-02-2016, 01:43 AM
#56
Makes sense. Cars in LA enjoy the kind of weather that's easy on cars. Salt on the road and rough weather can take their toll on cars, especially as they age.
09-02-2016, 08:18 AM
#58
Addict
Rennlist Member
Rennlist Member
09-02-2016, 10:53 AM
#59
Rennlist Member
09-02-2016, 01:39 PM
#60
Every collector car goes up and down - even the low mile ones...and there is nothing you can do to stop the cycle!
The latest ramp up was caused by an excess of disposable funds after the 2008 economic downturn, the 993's move from an "older sports car" to a "collectible", and the speculators and dealers who ran prices up by buying at retail (how else would they get a 993?) and selling for a profit.
Prices have softened and likely won't really drop significantly until the next economic downturn.
The latest ramp up was caused by an excess of disposable funds after the 2008 economic downturn, the 993's move from an "older sports car" to a "collectible", and the speculators and dealers who ran prices up by buying at retail (how else would they get a 993?) and selling for a profit.
Prices have softened and likely won't really drop significantly until the next economic downturn.
