Air Cooled Bubble?
Racer
Joined: Oct 2015
Posts: 304
Likes: 2
May consider selling my 89 speedster - under 2k miles. I am second owner, purchased it with 34 miles in 92. Only things not original are the battery, oil , fluids, filters, had fuel lines replaced a couple of years ago- still has original manufacture tag taped under front hood. Owners manuals still wrapped in plastic
If anyone is SERIOUS about purchasing a A1 car, PM me.
If anyone is SERIOUS about purchasing a A1 car, PM me.
Is 50 K enough?
Burning Brakes
Joined: Jul 2013
Posts: 815
Likes: 27
From: Orange County, California
May consider selling my 89 speedster - under 2k miles. I am second owner, purchased it with 34 miles in 92. Only things not original are the battery, oil , fluids, filters, had fuel lines replaced a couple of years ago- still has original manufacture tag taped under front hood. Owners manuals still wrapped in plastic
If anyone is SERIOUS about purchasing a A1 car, PM me.
If anyone is SERIOUS about purchasing a A1 car, PM me.
I'm curious, you bought this in 1992 and have kept it perfect and barely drove it in over 20 years. Did you know back then it would increase in value by a factor of 3-5?
I am not wealthy enough to buy cars that would look awesome in my garage but not even bother to unwrap the manuals. Envious and curious to what led you to believe this would happen and the discipline to leave the car mint.
Rennlist Member
Joined: Mar 2003
Posts: 3,570
Likes: 103
From: Philly
Hello
I'm curious, you bought this in 1992 and have kept it perfect and barely drove it in over 20 years. Did you know back then it would increase in value by a factor of 3-5?
I am not wealthy enough to buy cars that would look awesome in my garage but not even bother to unwrap the manuals. Envious and curious to what led you to believe this would happen and the discipline to leave the car mint.
I'm curious, you bought this in 1992 and have kept it perfect and barely drove it in over 20 years. Did you know back then it would increase in value by a factor of 3-5?
I am not wealthy enough to buy cars that would look awesome in my garage but not even bother to unwrap the manuals. Envious and curious to what led you to believe this would happen and the discipline to leave the car mint.
For arguments sake lets say the car was bought at $70 grand and in todays market its $200k. Thats not quite 200% appreciation.
If I recall correctly the S and P 500 was about 350 maybe 400 back in 1992. Today its north of 2150. For arguments sake lets call it 400 to 2000.
When you look at the Speedster vs the S and P 500, the Speedie does not look like a very good investment. There were other more conservative investments which also would have easily out performed the Speedie over that time too.
I don't know what the motivation on the Speedie purchase was and I don't judge. I myself would have done better not buying all the cars I have owned over that time and just plowed money into the market. I also sold things like my e30 M3, RSA, 89 Ruf Turbo and others well well well below todays markets.
Point being these cars are not really long term investments. hard to say what anyone's motivation for having collector cars really is, especially ones you dont drive.
Burning Brakes
Joined: Jul 2013
Posts: 815
Likes: 27
From: Orange County, California
@ Trader
Amazing on the E30 M3. I bought mine for 15k ( 89) with 34k miles on it. Cleaned it up some and thought 5 years ago getting 32k for it was genius. I had the car for 3 years and tried to love it but I had a E46 M3 and just could never get over how slow the car was in comparison. Loved the look but the rest IMHO was underwhelmed.
Amazing on the E30 M3. I bought mine for 15k ( 89) with 34k miles on it. Cleaned it up some and thought 5 years ago getting 32k for it was genius. I had the car for 3 years and tried to love it but I had a E46 M3 and just could never get over how slow the car was in comparison. Loved the look but the rest IMHO was underwhelmed.
Banned
Joined: Jun 2012
Posts: 1,579
Likes: 51
6MT coupe with 8,000 miles for $36,000. 50+ air cooled Porsches later I truly regret selling my Speedster...but I was in no financial position to own more than one at the time. Part of my point is that all markets rise and fall, whether it's car or stocks. Timing (which most of us can't do well) plays a big part in one's overall return. Life is short. Enjoy it while you can. Last comment. I now have 2 911's; 993 C2S and 964 coupe; each with 132,xxx miles and they both drive better than when new
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Three Wheelin'
Joined: Jul 2011
Posts: 1,406
Likes: 34
Selling a car 27 years later for $200,000 that cost $70,000 is a 4% IRR. I suspect the seller bought it because he loves and appreciates cars. And it's wonderful that we have people who do just that. They surely have better choices for their investments. These investments are out of a passion for cars.
Nordschleife Master
Joined: Mar 2004
Posts: 8,386
Likes: 442
From: Southwest
Rennlist Member
Joined: Oct 2013
Posts: 1,090
Likes: 129
From: Planet Earth
Didn't buy the Speedster as an investment - most forget, there was a car bubble in the late 80's and these cars were selling for 2x sticker new as well as all muscle cars skyrocketing in price in that time period. I bought it because I liked it and in 92 after the price tanked to below sticker I was able to pull the trigger. Wish I was smart enough to have forecast it's increase in value but I am a no collage education hard worker who sometimes guesses correctly.
For the leak comments - It doesn't leak a drop - I have it checked annually by a reputable indie and have all receipts. All fuel lines, brake lines are strong and in like new condition. Not sure why someone would think individuals who store cars aren't smart enough to think of those issues. I am OCD with my cars and today scored a perfect 250 pts at the local Concourse with the P car I took. The Speedster is in beyond exceptional condition - beyond A1 condition.
Enjoy your cars everyone - was a great weekend to get out and drive.
For the leak comments - It doesn't leak a drop - I have it checked annually by a reputable indie and have all receipts. All fuel lines, brake lines are strong and in like new condition. Not sure why someone would think individuals who store cars aren't smart enough to think of those issues. I am OCD with my cars and today scored a perfect 250 pts at the local Concourse with the P car I took. The Speedster is in beyond exceptional condition - beyond A1 condition.
Enjoy your cars everyone - was a great weekend to get out and drive.
Three Wheelin'
Joined: Jul 2011
Posts: 1,406
Likes: 34
Didn't buy the Speedster as an investment - most forget, there was a car bubble in the late 80's and these cars were selling for 2x sticker new as well as all muscle cars skyrocketing in price in that time period. I bought it because I liked it and in 92 after the price tanked to below sticker I was able to pull the trigger. Wish I was smart enough to have forecast it's increase in value but I am a no collage education hard worker who sometimes guesses correctly. For the leak comments - It doesn't leak a drop - I have it checked annually by a reputable indie and have all receipts. All fuel lines, brake lines are strong and in like new condition. Not sure why someone would think individuals who store cars aren't smart enough to think of those issues. I am OCD with my cars and today scored a perfect 250 pts at the local Concourse with the P car I took. The Speedster is in beyond exceptional condition - beyond A1 condition. Enjoy your cars everyone - was a great weekend to get out and drive.
Pro
Joined: Aug 2001
Posts: 721
Likes: 0
From: albany,NY
of course cars ( except for the very rare occurrence) are not a good investment, with at best low return and on average a losing proposition.
But for a CAR, I think my '86 Carrera is pretty good.
Bought it for $18k in '01 and over the last 40K miles I've spent about another $12k ( and mucho elbow grease) keeping it in good shape.
if I were to sell it for $30k, my cost per mile wouild be about 10 cents. . A Honda Civic is est 50 cents a mile and a newer performance car 2 -4 times that much when depreciation ets factored in.
10cts a mile for the fun and thrills I've had is the bargain of the century
But for a CAR, I think my '86 Carrera is pretty good.
Bought it for $18k in '01 and over the last 40K miles I've spent about another $12k ( and mucho elbow grease) keeping it in good shape.
if I were to sell it for $30k, my cost per mile wouild be about 10 cents. . A Honda Civic is est 50 cents a mile and a newer performance car 2 -4 times that much when depreciation ets factored in.
10cts a mile for the fun and thrills I've had is the bargain of the century
Rennlist Member
Joined: Mar 2003
Posts: 3,570
Likes: 103
From: Philly
Leading up to introduction of the Speedster in 1989, "collectors/speculators" were paying well over MSRP ($65k+) and into the $80k+ range. Then the 1990 recession hit and many of these examples were tucked away for better times. This was part of the reason there were so many low mileage examples being offered once the market rebounded. Fast forward to 2002 or so. I was looking to fulfill a lifelong dream by owning a 911. I knew little about these cars other than I had to have one. An authorized Porsche (and Ferrari) dealer in North Carolina had a red/black Speedster for sale with 35k miles. Not concours but "garage queen" condition. He wanted $39k for the car. I happen to have owned at the time a 1998 Volvo VR70 AWD Wagon (which was a high output turbo wagon). Apparently the dealer had a sister company that sold Volvos. He offered me $19k for the Volvo, $20k cash and agreed to deliver the Porsche to NJ and pick up my Volvo. No PPI on either side. I owned the car for approximately 3 years and sold it after a month long listing, for $42k...and thought I was a hero. Turned around and purchased a 1997 993
6MT coupe with 8,000 miles for $36,000. 50+ air cooled Porsches later I truly regret selling my Speedster...but I was in no financial position to own more than one at the time. Part of my point is that all markets rise and fall, whether it's car or stocks. Timing (which most of us can't do well) plays a big part in one's overall return. Life is short. Enjoy it while you can. Last comment. I now have 2 911's; 993 C2S and 964 coupe; each with 132,xxx miles and they both drive better than when new
6MT coupe with 8,000 miles for $36,000. 50+ air cooled Porsches later I truly regret selling my Speedster...but I was in no financial position to own more than one at the time. Part of my point is that all markets rise and fall, whether it's car or stocks. Timing (which most of us can't do well) plays a big part in one's overall return. Life is short. Enjoy it while you can. Last comment. I now have 2 911's; 993 C2S and 964 coupe; each with 132,xxx miles and they both drive better than when new
U7,
I am on the same page. I have owned many rare models over the years. I bought them at a time when they were just used Porsches and no so collectable, same with the M3 which I bought new. They were never investments to me, I drove them all regularly. I have owned 25 or 26 or so air cooled 911's over the past 25 years, mostly because I wanted that model at the time.
Even as a professional trader I am not foolish enough to believe that people can time the markets well (stock market or otherwise). I had many days when I sold below the posted low of the day and bought above the posted high of the day, trading baskets of stocks as part of an arb play. Such is life.
Rennlist Member
Joined: Mar 2003
Posts: 3,570
Likes: 103
From: Philly
Didn't buy the Speedster as an investment - most forget, there was a car bubble in the late 80's and these cars were selling for 2x sticker new as well as all muscle cars skyrocketing in price in that time period. I bought it because I liked it and in 92 after the price tanked to below sticker I was able to pull the trigger. Wish I was smart enough to have forecast it's increase in value but I am a no collage education hard worker who sometimes guesses correctly.
For the leak comments - It doesn't leak a drop - I have it checked annually by a reputable indie and have all receipts. All fuel lines, brake lines are strong and in like new condition. Not sure why someone would think individuals who store cars aren't smart enough to think of those issues. I am OCD with my cars and today scored a perfect 250 pts at the local Concourse with the P car I took. The Speedster is in beyond exceptional condition - beyond A1 condition.
Enjoy your cars everyone - was a great weekend to get out and drive.
For the leak comments - It doesn't leak a drop - I have it checked annually by a reputable indie and have all receipts. All fuel lines, brake lines are strong and in like new condition. Not sure why someone would think individuals who store cars aren't smart enough to think of those issues. I am OCD with my cars and today scored a perfect 250 pts at the local Concourse with the P car I took. The Speedster is in beyond exceptional condition - beyond A1 condition.
Enjoy your cars everyone - was a great weekend to get out and drive.
I am sure the car is beyond exceptional. I don't recall a time when these cars with no miles traded below sticker price but the market in cars back then was not as transparent as now. Glad you enjoyed the car.
I stand my my quick assessment that, as an investment there were lots better simple choices which easily yielded far greater monetary returns.