Orange 2007 GT3 RS for Sale

[sharkster]

Seen that car at the local car meet a few weekends. Prime example. GL with the sale...

[ylshih]

Originally Posted by Max Power

I've renamed and moved that page:

http://www.gt3rsregistry.com/2007GT3RS/vin/2600.htm

What dealer sold it originally?

Thanks. Additional information: Stevens Creek Porsche sold the car; it does not have rollbar mounting plates.

[MHC2S]

Good God that car is so beautiful. I would sleep in it

[emmros]

good luck with the sale - bump for a great car.

[ylshih]

I got a few requests from interested parties for more and current photos, so I went out and took some a few minutes ago. Please excuse the water droplets, I rinsed & chamoised the car to get some dust off, but the light was fading and I didn't have a chance to get all the water off.

I tried to take pics of the obvious wear areas, like the right front wheel, the chin, the driver seat, the footwells, etc. I'm not promising there's only one nick, but the only one I noticed was a small prick in the 3M film on the right front (that's the tiny white spot in the lower edge of the stripe). I also shoved the camera into the front wheel well and under rear wheel well and just pressed the button. I hope these pics successfully convey the impression that this car is in pristine condition.

[Max Power]

looks new!

is it still available?

[daytonaviolet]

beauty of a RS

[ylshih]

Thanks everyone for your interest.

I've been in the middle of a sale for a few weeks now and expect it to be closed and done in a few days. I'll try and update my thread with my sales and market experience once everything is settled.

[ylshih]

My car is sold and I have my proceeds, so I thought I'd provide a summary of my sales experience in today's market for the benefit of onlookers and others thinking of buying or selling.

Before posting the ad in post #1, I checked with friends and dealers on the current market. I was advised that if I wanted to sell the car immediately, a broker could probably take it off my hands for $100-110K. This would be a cash offer, all risk transferred to the broker. Of course with that kind of offer, there isn't much risk as the offer is set very low to guarantee that there's a profit. There was even a suggestion that one dealer would take it off my hands for $100K, immediately turn around and flip it to another broker for $110K, etc. In other words, making $10K for knowing a broker willing to pay $110K. This seemed like too many hands sharing in the pot.

A couple of dealers expressed interest in consigning it, and they suggested that the car would be best priced to move at $129K and that I should consider/accept offers in the lower end of $120K's. Of course, after consignment fees, that would take it into the mid $110K's. If I wanted, they would have been willing to put the car on their floor up to an asking price of $139K, but much more than that and I got the feeling they thought it would just sit and be a waste of everyone's time.

So with that as input, I decided to see what the market really was and posted an ad here (the only place I did so) at my car's MSRP of $137,415 as the asking price. This was at the very high end of the $100-139K range just discussed, but if it turned out there was no market where I was pricing it, then I didn't need to sell, I would just enjoy the car.

After posting the ad, I received 5-6 inquiries within 2-3 days. A couple were offers to trade (interesting cars, but not what I was personally interested in); a couple were demanding (effectively "these are my terms, take it or leave it"); a couple seemed to have more serious interest/intent (asking for more details, etc). I posted more pics in response to these last two.

Within a day or so of posting those pics, one of them, a Porsche dealer, came back and made an offer for less than my asking price (no surprise), but not far from where I thought I might settle at for a serious, no-hassle offer. We compromised and had an e-handhake. This was not actually an end-user sale, effectively it was a brokered sale. That is, it worked out similarly to my having placed the car on a dealer floor for my asking price and then sold it close to that price less a consignment fee. This dealer acting as a broker knew of a buyer willing to pay somewhere around MSRP (my guess as to the selling price, since I don't have knowledge of the actual price). The dealer took care of all expenses of the transaction, dealt with all the administrative details, had knowledge of a willing buyer and, most importantly, enabled the buyer to buy the car (by dealing with the buyer's two trade-ins). It took another few weeks to get the car inspected, transport the car (which took multiple tries as the transport company kept sending transporters that had too steep a ramp for an RS), settle payment, etc; but it is finally done. This Porsche dealer was outstanding throughout.

I did get further interest during the "quiet" period, but not many as I let the thread go idle; but whenever it got bumped, I would get another query or two. I put these on standby as I never felt like the deal I had would fall apart. Total queries, maybe 10-11.

So my assessment? Between opportunists and bargain hunters it is not hard to get offers in the $110-120K range right now and some impatient or strapped sellers may end up with a sale in that range with a subsequent report here to the distress of interested owners and the delight of hopeful buyers. But it seems there are still buyers around MSRP, for a low miles 2007 GT3 RS as of Feb 2009; it depends on the car, your patience, the buyer and the specific circumstances. That doesn't mean that MSRP is a magic number (at least that's not my belief); it just means that at this point in time, the value of these cars just happens to be passing through MSRP, on a depreciation path from MSRP+$50K down to MSRP-$50K (or less). Those of us who got them at MSRP had 1-2 years of ownership fun at relatively low cost, those who paid a premium hopefully knew they were going to see some depreciation. It worked out well for me as I'm in this to have fun, not make a profit, so this was about the right time to sell and not feel like I was taking advantage of circumstances.

[PogueMoHone]

^
Great post, and puts the lie to those trying to talk down values without actual experience; or based upon wishful thinking.

I know why you sold it (zero sum game) and I still believe that the RS will be a special long term car. Of course, I am in the camp that also believes there will be no 997.2 GT3RS.

[///Mous3]

Originally Posted by PogueMoHone

^
Great post, and puts the lie to those trying to talk down values without actual experience; or based upon wishful thinking.

Thank you for sharing... The following listing was circa December, 2007. My wild calculation of approximately $30K or 18.75% drop in 14 months.

Wayyyy better than Yahoo stock... I knew 401K was a scam!

[russo]

Originally Posted by ///Mous3

Thank you for sharing... The following listing was circa December, 2007. My wild calculation of approximately $30K or 18.75% drop in 14 months.

I think its more than 30k drop. Most of the 2007 cars listed from 18 months ago asking price was 180k with current prices being in the low 120 to 130K. I venture to guess that the percentage drop is similar to the stock market.

[chardonet]

Thank you for sharing your experience and a thorough report on the current market.

[Nizer]

Excellent review of selling experience. Thanks for posting.

[gt3cup98]

Thanks for taking your time and sharing your expierance. Every time I think of selling mine I uncover it and change my mind. They are very cool cars and a lot of fun, but your post helps.
Thanks again!
Boyd