It is amazing how many 911's are for sale. I was over on Pelican and what appears to be very nice cars for reasonable prices. I gave up trying to sell my
'84, not a call or email. I'll pickle it until the market gets better, if ever.

It is funny to watch dealers. I guess they think it's two years ago. To bad they can't focus their shifty eyes for one minute to see that their prices are just a little out of line. I was looking for a Boss 302 but these guys are in la-la land. Prices on the 356 cars are floating downward as well.

 

I also have been following european collectibles in costa mesa...they deal with 356s, 911 for the last 3 years. Cars have dropped in price including 356s...some look affordable. There are cars there that have been listed for a year who's prices have dropped 15-20% and still not selling. I've has seeing some beautifully restored 356cabs still sell....I guess there are still a few people with $$. But overall, unless the price is right...good luck selling a car.
BTW, you should check out a web site called iceagenow.com...you will really get a kick out of it.
abe

 

The way dealers sell American cars nowadays is to give you any incentive needed to get you out the door in that car.

The way Porsches are sold now is they are priced at 2006 levels and then the car just sits forever on the lot. End of story. No discount and also no sales.

A lot of no reserve Porsches have hit Ebay lately. They are still getting reasonable money, just not 2006 money. Owners need to realize that they can sell a Porsche if they price it to sell. What I see is owners who won't come off their prices and buyers who will buy if they feel like it is a sale price. The reason I say that is because the no reserve auctions are fetching pretty fair market prices. So there are buyers.

 

It's a GREAT time to buy... a bad time to sell.

I wish I had a bucket of cash, I would have allot of cars

 

Unique or very clean or original cars will continue to command decent prices. To sell something of average quality means that you'd have to meet what the market will bear.The problem with selling anything right now, is that buyers automatically expect the item is on fire sale. I know of people selling items that have to weed thru tons of low-ball calls and offers.

 

not only are cars not selling but buyers are not able to get loans on cars older than 10 years OR with mileage higher than 100K

i just sold my 95 993 to a cash buyer and think he may be the only one left out there :-)

 

There are tons of people with cash out there. The thing is most people are hanging onto it. All of the sell-offs in the market have generated tons of cash, and there has never been so much parked on the sidelines. IMO, people financing older 911's shouldn't. Part of our problems in this country is that too many people are finance crazy.

 

I think dealers are waiting for the spring. Winter is a lousy time to sell sports cars and there is no point in discounting when nobody is looking which will just set up bad pricing levels for the spring rush. If people don't buy in the spring, then my guess is dealers will be forced to lower their prices.

Like the uncertainty of the markets, dealers have not really had a chance to test the second hand sports car market since this mess began.

 

i think you make a good point...unfortunetly there is a much smaller buyers market which will add to the increase unsold cars.

yes dealers may be waiting but come spring i would be very surprised to see cars jumping off the lot.

 

We are currently all cash buyers because financing for old cars ain't gonna happen.

Buyers are paying cash right now and the majority of buyers are simply not going to part with more than 10-20 grand of straight cash, regardless of how nice the car is or how much it would have fetched at DOW 14,000.

Deflation is such an easy concept to understand, yet it seems that our society just will not cope with the new reality. The cars with no reserve auctions are getting MORE bids than regular auctions BECAUSE the buyer knows that the car is realistically priced...the price will reflect the market value exactly. To the penny.

What I am really trying to say is that the people that need to sell are selling and the people that are waiting for spring or the massive unemployment and brand new ten trillion dollar deficit to go away are just prolonging their pain, IMO. At the end of the day all old cars that need to be sold are going to be cash deals from now on.

 

well put...

i sold my 95 993 to purchase an aircooled C4S which i intend to pay cash for..unfortunetly the silver/black C4S i was planning on purchasing is no longer for sale so the search continues.

i am also considering a 1990 or 91 964 driver in the $12K-$15K range...
has to be silver/black or charcoal/black so if anyone has any leads on a good example please let me know

 

Abe I've had to bite my tounge for two years now. European Collectibles is owned by one of the biggest crooks in the 356 world. My next door neighbor lost his '55 speedster because of them. They forged his signature (mis-spelling it) on work orders to the tune of $30,000. He had to sell the car just to get it out of there. My neighbor died a fiew weeks ago so the court battle is over and I'm a little more comfortable talking about it. Sorry for the hijack. It's a very sore subject.

 

My credit union will loan avg retail on ANY vehicle regardless of age, or mileage. They would loan me $19,200 on my 82 911sc, i just went with $6500 though. They will even loan on rebuilt title vehicles. The interest rates are crazy low also.

 

I bought my car about 3 months ago. Did a nationwide search. I knew at the time that the economy was dropping like a rock ... and suspected strongly that I could probably pick up a car 3-6 months later at a better price.

I developed a short list of 4-5 cars and did my best to analyze all of them objectively. All were race cars ... reasonably easy to analyze/compare on an apples to apples basis.

The part that surprised me most about the whole exercise was the unwillingness of sellers to "negotiate". One guy had paid X$ for his car two years earlier and wouldn't sell it for a dollar less than he had paid. The others were somewhat willing to acknowledge the softness of the market, but didn't seem (or want) to understand that problems with the cars would cost me $ to fix. From my perspective this was simply an unwillingness to be realistic.

I kept thinking to myself "why am I the only one that knows the economy is in a free-fall"? I felt like I was negotiating with people that didn't know or care.

I had all but given up when one of the sellers called for "advice" on what he should do to sell his car. I said it's easy. Price it like you mean to sell it. Right, that's the car I ended up buying.

I believe all the other cars are still on the market.

 

there are many porsche owners from the "old school" who are totally oblivious to the market conditions. I have noticed that a lot of people are like that with used parts also. They are not willing to even budge on price. They would rather keep them, than help a fellow porsche owner with a realistic price.