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Cup Car purchase / sale delta after almost 20 years
Not sure if this falls into the "the first rule of fight club" but here is a log of all 10 of my factory race car purchases and sales since 2004. Lost on some, made on others. Est hours is probably short due to a few test days here and there. I've never re-tubbed a car, never needed a rebuild of engine or trans other than a light refresh on one trans. Car number 1 was my first car, and I bought it back last year and ran it at VIR and Road America in 2022. Car #2 was a complete dog, plus sold during deep recession and just wanted it gone. The gain on the GT3R was primarily attributable to the favorable exchange rate (I imported from Asia). Folks pay more for good cars once they have landed in the USA. Of course, there are support and maintenance costs, which can be substantial, and I've probably had $50K in damage repairs over 20 years.
Every car other than #2 was sold to someone else within our "team" umbrella and these drivers remain with the team. Car #4 (the "General Lee" themed 997.2) was unfortunately totaled when owned by following owner when someone wrecked him at Sebring.
Total "depreciation" across 19 years and 10 cars: $3,400 !!
Yes, Yes, Yes. I sold to a friend, and in his 13 years or so of ownership, he spent a boatload on the car. Unfortunately he succumbed to ALS last year. Bigger, monster motor, better suspension, etc. It's fun to drive but a handful.
We shall see. Bought from a guy in Miami area who had bought it for his younger son who didn't drive it much. If its a clean car as represented, it was a very good deal. Arriving at my shop (Autometrics) tonight so I think by lunchtime tomorrow I'll know whether it was a good deal or a face palm.
Total "depreciation" across 19 years and 10 cars: $3,400 !!
And you still own 3 cars worth roughly +$250k! I’m still bummed we didn’t get to connect at the VIR DE last November but I’m sure we will eventually… I aspire to one day own almost $1M of cup cars like you have done 😎
Last edited by Mike Roblin; 03-15-2023 at 10:12 PM.
And you still own 3 cars worth roughly +$250k! I’m still bummed we didn’t get to connect at the VIR DE last November but I’m sure we will eventually… I aspire to one day own almost $1M of cup cars like you have done 😎
The first car I bought in 2004 - I could barely afford it. Had 3 young kids, growing business. Common sense says it was a bad decision. But I'll tell you what happened. The kind of people you meet racing inspire you to work harder and be better. They pushed me to do more with myself and my business. Both directly by having deep conversations about business and strategy and indirectly by showing me what it's like to not think twice about buying 5 sets of new slicks and a new carbon helmet because the old one was scratched. The kind of people you meet when racing will call bull**** on you and tell you to stop being a lazy person. No excuses people.
I got lucky. Retired at 43. Blah blah. Even now I show up under the same canopy as guys who make my success look like a rounding error so you always have next level people you are around. And they are the nicest folks you can't meet. Even the billionaires.
And you still own 3 cars worth roughly +$250k! I’m still bummed we didn’t get to connect at the VIR DE last November but I’m sure we will eventually… I aspire to one day own almost $1M of cup cars like you have done 😎
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In my mind it is not about how much you spend that makes one a winner but more about the value of the life experience. Enjoy what you have and run it to the max.
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Warren Buffet was asked for his opinion on a life well lived. He referenced the Ann Frank story from WWII and commented something to the effect you can judge how well a life you lived by “how many people would hide you”.
As an accountant, I always enjoy looking at the numbers and track every dollar diligently. GT4 Clubsport costs are inherently cheaper than Cup car costs.
You did pretty well on the R which definitely saved the other losses.
No wonder you tried to lowball me on my 991.2. It’s so you could keep the profitable trend going. 😊 I am certainly grateful we didn’t make that deal happen. The gearbox is actually at Autometrics now.lol Seems like the 991.1 is forever pegged in the 100-110 range now.
Last edited by Daytonars4; 03-16-2023 at 09:11 PM.
No wonder you tried to lowball me on my 991.2. It’s so you could keep the profitable trend going. 😊 I am certainly grateful we didn’t make that deal happen. The gearbox is actually at Autometrics now.lol Seems like the 991.1 is forever pegged in the 100-110 range now.
I felt like it was a fair offer at the time. There are far fewer credible buyers than there are tire kickers. Keep selling cup cars and you will be able to confirm. Bringing over a car from Asia has risks. Glad you were able to make it work and glad Autometrics is working on the gearbox!
No hard feelings at all. You never know until you try! 991.2 market has definitely weakened a lot in the last 90 days. I was fortunate the car arrived a few weeks sooner than expected. Even the 992 market has slowed dramatically. I see some of the high volume PCar sellers sitting on inventory which hasn’t really happened for years. Seems supply is finally starting to exceed demand.
03-15-2023, 08:11 PM
Cup Car purchase / sale delta after almost 20 years
