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Is it my imagination or are values on the 996 turbo increasing? Before I bought my 997 in 2013 I was looking at 996's and it wasn't hard to find nice examples under $50k. Just a quick search on cargurus today and it looks like there aren't any under $50k. I hope this is a foreshadow of things to come in the 997 model.
Porsche 911's have always followed the same value curve. They sinking in value from new, they plateau at that low level for a couple of years, then they increase in value.
Last edited by Carlo_Carrera; 10-13-2016 at 02:30 PM.
I've been looking for a few months and prices are definitely up. Before I bought my 993 a year ago, I was between the 993 and 996tt. 996tt prices were lower then, I was seeing cars regularly in the mid 30's now most are in the mid 40's. I find the highest priced low mileage examples take a bit of time to sell and sit for a while unless they are truly something exceptional and rare. Whether its pricing or other factors of each individual car I'm not sure. However, I noticed the well priced, mid-mileage, clean cars move very fast. I cannot speak to 997tt's.
Well, possibly the asking price. It would be interesting to know what those cars actually sell for when they sell. Going into fall/winter I'm thinking a number of them may not sell until spring.
There are a number of Cabs in that lot. Unless something has changed generally Cabs suffer a pretty steep depreciation curve. Those prices being asked suggest to me there is plenty of room to negotiate a lower price.
It's no doubt they are going up, but the question is will they ever reach the stratosphere of the 993TT?
If I have done my math correctly there where five times as many 996TTs made than 993TTs. So a 996TT will never be as rare or expensive. But 996TTs will in time increase dramatically in value as all high end 911 Porsches models do. Rarity is the key factor in ultimate value.
As an earlier poster pointed out, the only thing that matters is the actual sales price. Asking prices are like politicians promises...dreams. I drove an 02 996tt the other day...96k miles and priced at about $33k. The condition made it not worth that sort of money. Suspension was tired, interior trim needed some attention to details, the wheel balance and alignment were off...which all led me to feel that the car had not been well cared for and I was seeing the tip of the iceberg. A much better example sat next to it and the price was $43k. So one car didn't sell at $33k and I'm guessing it is really only worth $28k. And the $43k car is really a $38k.
Of course I'm stripping away most of the dealer's profit...but I'm seeing what they pay when they pick up these cars at auction. The dealer (an independent) bought over 15 cars at one auction, turned around and is selling one of them to an authorized Porsche dealer (for a small but fast profit) and that car will quickly become a CPO and the price will go up again.
The only true price is what ever each of us is willing to pay for a specific car at a specific time. The 993tt is a perfect example of an over heated market. It is a better car than the 930 and a lesser car than the 996. And its rarity is only relative.
As an earlier poster pointed out, the only thing that matters is the actual sales price. Asking prices are like politicians promises...dreams. I drove an 02 996tt the other day...96k miles and priced at about $33k. The condition made it not worth that sort of money. Suspension was tired, interior trim needed some attention to details, the wheel balance and alignment were off...which all led me to feel that the car had not been well cared for and I was seeing the tip of the iceberg. A much better example sat next to it and the price was $43k. So one car didn't sell at $33k and I'm guessing it is really only worth $28k. And the $43k car is really a $38k.
Of course I'm stripping away most of the dealer's profit...but I'm seeing what they pay when they pick up these cars at auction. The dealer (an independent) bought over 15 cars at one auction, turned around and is selling one of them to an authorized Porsche dealer (for a small but fast profit) and that car will quickly become a CPO and the price will go up again.
The only true price is what ever each of us is willing to pay for a specific car at a specific time. The 993tt is a perfect example of an over heated market. It is a better car than the 930 and a lesser car than the 996. And its rarity is only relative.
I was told Porsche won't CPO a car that went through auction. Only one owner cars with zero accidents.
The only true price is what ever each of us is willing to pay for a specific car at a specific time. The 993tt is a perfect example of an over heated market. And its rarity is only relative.
Could not have worded it better. I have said this forever.
10-13-2016, 11:29 AM
996 value going up?
