msterling

I don't think it is a bubble, but I do think prices pushing upward at a non-sustainable rate. Unless the economy tanks, I don't see prices falling back.The mystique of a quality, air-cooled, hand built sports car will endure.

This reminds me that I need to rewrite my agreed value policy on my 88 Carrera Cab. It is currently at $21k.

markaria1

i agree x 2...maybe Im old school but I feel a true "sports car" is one that has a clutch...internal combustion and no computer (s) saving you... just your ability and a feel for the road. Modern cars seem to have lost that quite some time ago

rlich8

Still affordable compared to many sports cars of similar vintages as air cooled Porsches. Aside from the six digit cars like the turbos and RS Americas, many of the air cooled 911's still remain some of the most affordable true sports cars out there. Old Ferraris and Jags are beautiful cars but most regular folks who love driving still overwhelmingly prefer the air cooled 911.

I don't think you'll see what I'd call the average 911 bringing E-Type like values, because they've made almost a million of them by now... but they're certain to hold steady as electronic, non-shifting, self-driving cars come closer to reality. The death of the sports car is already upon us, so there's a certain floor to these things as environmental and safety regulations become exponentially more difficult to produce a DIY driving experience.

Nothing matches the quick horsepower release that the little aircraft derived flat six offers. Shift yourself, drive yourself, etc.

Porsche. There is no substitute.

gerry100

old 911s are more like your steed.

New ones are more like your laptop,

brianpizzuti

Air cooled Porsches are being exported to many places outside of Europe as well. Dubai, Kuwait, and even Russia are buying up these cars as well. Look to China in 10 years to go Air-Cooled crazy in ten years. In a very short while China will have larger annual sales of new Porsche vehicles than US. That market will keep the bubble from popping.

My only fear is if the Gen x and Millenials will desire these "antique" autos when the baby boomers reach even older ages.

Starbuckslova1

I could see it be more of an inflation cycle then a bubble itll level off the rise steady
Bubbles burst and crash


E type jags have been steady for years
Love that car btw
I know jaguar very well

Old Ferraris jumped like crazy

Old mercedes sl 1960s and 280se convertibles jumped

fbfisher

By "prices" do you mean the prices we see on Autotrader. I see the same cars sitting on Autotrader that have been there for months. $40K+ for a 100K+ mile 85-89 911 is way more than the market will bear because these cars sit "priced to sell" seemingly forever.

gerry100

Wondering if the Euro v Dollar fall is going to dampen the appetite in Europe for the old cars.

JCP911S

There are economic fundamentals at work here.

First, we are in a global economy... a buyer in Ohio, China or Luxemburg can bid on a car for sale in Scottsdale... these are "fungible" assets.

Second, there are lots and lots of extremely wealthy people looking for stores of value and stability.... as governments across the world (not just USA) manipulate their currency, inflation is a legitimate concern... paper assets are risky long-term...

Thirdly, valuing a car against its price two years ago is not the correct analysis....compare it with current sale prices of comparable cars... I'd target pre-74 Corvettes, MB SLs, E-Jags, and second-tier Italian cars (Maser, Alfa for example), the SC/Carrara are not really all that expensive.

The collector car market is increasingly efficient, and thus acts more like the stock market, for better or worse...

If I could time the market, I'd be sipping wine at my Tuscan Villa right now.

antoniodelgad68

Guys I own both types of 911's a 1992 964 Turbo and a 1997 C2S as well as a 2010 RS & 2014 GT3. There is no doubt the new water pushers will blow the doors off the other 2 air cooled cars, but when I drive the oldies, rowing the manual smelling the gas and old plastic a Huge smile spreads across my face and it brings me back to a simpler time when you needed to actually drive the car and felt the road on all 4 tires. The prices are driven by people that want the nostalgia and quality of the older 911's and since they are not making more prices go up. Is the market hot? Probably by 15 to 20% and it will come down some but don't think that prices will go down 30 to 50% because enthusiasts demand may slow with the economy but not die, prices will firm on these types of cars.

GTgears

A head on it isn't a bubble. Speculators will over-reach. You need the sucker to pop for it to be a bubble.

I don't think it will happen. $50-60K SCs for sale at Sloan are not indicative of the market in general. $30-35k SCs? Welcome to the new normal.

These cars have been undervalued for decades. Not 1, but 2. This is a market correction, not a bubble.

bakerphoto

"My only fear is if the Gen x and Millenials will desire these "antique" autos when the baby boomers reach even older ages."

My experience with my '86 Cab, the "stare factor" is pretty much spread across all demos pretty evenly. Thumbs up from elementary kids through high school and beyond is a pretty regular occurrence. The best was driving through the Kroger parking lot and hearing a 4 or 5 year old boy say in an excited tone, "Daddy, what car is that?" Clearly a kid with excellent taste. And last but not least, the "Valet Test", always up front when I come out.

Jay H

Keep in mind inflation comes into play as well.

For example:

I bought my first 911, an '86, in January of 1997. It was a Guards Red over black basic coupe with 90,000 miles. Three shades of red from a rear end hit, a billion stone chips and it came complete with a few rust bubble due to it being a Wisconsin car it's whole life. It was a one owner car (first owner traded it on a new first year Boxster) but it needed tires, shocks, full tune up, alternator, a serious coat of wax and a few other things. Ran well, but essentially just a driver quality car. It was the cheapest 3.2 liter 915 equipped car I could find in my area. I paid $17,000 from a reputable Porsche dealership.

A year prior I had to pass on a mint 1985 that had about 40k on the clock that sold for $22k and I also looked at, drove, but could not afford a beat '88 911 with 93k on the clock that was going for $19k.

Fast forward to 2014 (the latest year for the inflation calculator I use) and let inflation do it's job (and assuming these cars are done depreciating). My first 911 that I paid $17k for would now cost nearly $25k in 2014 money. The $22k '85 would now be $33,700 and the '88 would now be $29k. If all things remained the same in the 911 market, simple economics dictate a runner type 911 is still gonna be $25k to $30k in today's money. Add in some speculation, collectors and high demand and you can easily see how current prices have gotten to where they are now. There is no way we'll ever see $17k runner type 911's again.

I owe at least a pic of my $17k '86...

Starbuckslova1

Could not agree more, these cars have been undervalued for decades now things are just catching up. These are real sports cars like older ferraris, now people are just realizing it

autobonrun

Besides the quality of the cars, the main reasons are:

1) They aren't made any more
2) They are "in" right now, world wide
3) They remind people, both in looks, simplicity, sounds and smells, of a time when Porsche was winning races and of a simpler time
4) Janis Joplin's friends drove them