Air Cooled Bubble?
#76
Are we collectors or are we drivers?
I wouldn't sell my car for twice what it's worth because then I wouldn't have it.
It's like real estate. Your home triples in value so you sell. Then what?
I wouldn't sell my car for twice what it's worth because then I wouldn't have it.
It's like real estate. Your home triples in value so you sell. Then what?
#77
Then you bank half the money and buy another. I would sell any of my cars for twice their value. Its a no brainer.
#78
http://www.thegentlemanracer.com/201...-to-burst.html
Not sure I understand his point, from his point of view I should once again able to get driver quality 912 for $10k and 911T for $15k when the "bubble" burst...
Not sure I understand his point, from his point of view I should once again able to get driver quality 912 for $10k and 911T for $15k when the "bubble" burst...
#79
http://www.thegentlemanracer.com/201...-to-burst.html
Not sure I understand his point, from his point of view I should once again able to get driver quality 912 for $10k and 911T for $15k when the "bubble" burst...
Not sure I understand his point, from his point of view I should once again able to get driver quality 912 for $10k and 911T for $15k when the "bubble" burst...
#80
GT3 player par excellence
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my two cents.
the real collectors, not speculator, arent that affected by econ downturns. when fed fund rate hits 8%, i dont think the ingrams will start dumping their holdings for cash....
new is not better than old
old is not better than new
but they sure are different
you need them all.
just like
tennis shoes are not better than basketball shoes
nike dry fit is not better than zengna suit
all depends on what, when, why...
the real collectors, not speculator, arent that affected by econ downturns. when fed fund rate hits 8%, i dont think the ingrams will start dumping their holdings for cash....
new is not better than old
old is not better than new
but they sure are different
you need them all.
just like
tennis shoes are not better than basketball shoes
nike dry fit is not better than zengna suit
all depends on what, when, why...
#81
This is the week for Monterey. This is also the week to see if the bubble bursts. Or, if this is actually a bubble.
63 Porsches will be auctioned this week and we've listed everyone of them in Road Scholars Magazine. Go here for the starting lineup.
You might want to sign up for a free subscription as well. That way you won't miss our analysis. We have 5 people covering all these auctions.
Richard Newton
63 Porsches will be auctioned this week and we've listed everyone of them in Road Scholars Magazine. Go here for the starting lineup.
You might want to sign up for a free subscription as well. That way you won't miss our analysis. We have 5 people covering all these auctions.
Richard Newton
#82
CNBC is covering the auctions. They interviewed David Gooding this morning. Prices last night seemed to be really strong. CNBC is predicting $400 million+ is sales the weekend. Here's the link to there vid.
http://video.cnbc.com/gallery/?video=3000407097
Richard Newton
Road Scholars Magazine
http://video.cnbc.com/gallery/?video=3000407097
Richard Newton
Road Scholars Magazine
#83
I'm not an Economist (but I played one in College).
"Bubbles" are typically caused by speculators buying things they cannot afford using leverage (borrowing) to flip them and make a quick killing.
IMHO, most premium "collector" cars are purchased by extremely wealthy people using a small portion of their wealth to buy objects they desire, can afford, and if prices drop, they will simply keep them.
It's like real-estate, or art... in 2007, the "real estate bubble" collapsed, but not in Manhattan, LaJolla, Stone Harbor, or the Hamptons. I don't remember the "VanGogh bubble" bursting recently.
The "Real-Estate Bubble" burst because speculators were using sub-prime mortgages to buy crummy properties that they could not afford to pay for for, and when the payments went due, got foreclosed, and dumped on the market.
"Bubbles" are typically caused by speculators buying things they cannot afford using leverage (borrowing) to flip them and make a quick killing.
IMHO, most premium "collector" cars are purchased by extremely wealthy people using a small portion of their wealth to buy objects they desire, can afford, and if prices drop, they will simply keep them.
It's like real-estate, or art... in 2007, the "real estate bubble" collapsed, but not in Manhattan, LaJolla, Stone Harbor, or the Hamptons. I don't remember the "VanGogh bubble" bursting recently.
The "Real-Estate Bubble" burst because speculators were using sub-prime mortgages to buy crummy properties that they could not afford to pay for for, and when the payments went due, got foreclosed, and dumped on the market.
#84
Everyone wants to be in "That Club". Buying an old 911gets you into a great club. Rather exclusive, not too outrageously expensive, tangible and enjoyable asset that can be personalized and pampered. It's like having a hot girlfriend that is always eager to please. I don't see people loosing interest in sex or Porsches.
#85
It is good to know my Porsche is appreciating for the time being. If it falls on its face, it will not make any difference in my life. Same way, if it doubles its value, I could not care less. I bought it for myself, for my amusement.
#86
Everyone wants to be in "That Club". Buying an old 911gets you into a great club. Rather exclusive, not too outrageously expensive, tangible and enjoyable asset that can be personalized and pampered. It's like having a hot girlfriend that is always eager to please. I don't see people loosing interest in sex or Porsches.
#87
If you are having sex with your arms...You, my friend, are doing it wrong.
#88
Interest rates are low, financial markets risky & real estate not the solid investment it once was but the world is getting richer and all that money needs to go somewhere, Amber Lamps put it nicely;
If its a bubble then it will only burst for the bottom half of the market - once the rapid gains stop & bills start rolling in & that aircooled 911 looses its " FAD" tag then expect to see a higher degree of differentiation in price between worthy contenders and pretenders so buy the best one you can and even then trade up if you get the chance - that should keep your head above water in a very enjoyable manner. So make sure she is a keeper and not a gold digger!
Everyone wants to be in "That Club". Buying an old 911gets you into a great club. Rather exclusive, not too outrageously expensive, tangible and enjoyable asset that can be personalized and pampered. It's like having a hot girlfriend that is always eager to please. I don't see people loosing interest in sex or Porsches.
#89
The 993 people have to be very happy. A 1996 Carrera RS 3.8 for $550,00 + buyer's commission. Here.
Richard Newton
Collecting for Beginners
Richard Newton
Collecting for Beginners
#90
Hmmmm, I have a 993 and I can't say that the price of this very rare example will have any effect on the "normal" 993. The action of the 993 Turbos @ $200k makes me wonder if a bubble is in progress though. Two years ago I knew five guys that had them....of those, only two have them now. The three guys that have cashed in have stayed in the 911 world by buying 997 GT3's....which BTW have also quite dramatically increased in value. Once again, probably a good move for people that can afford it, comparatively rare, Mezger engine with true dry sump and manual tranny...unlike the 991 version. Who knows what'll happen? The more people who own them that are fairly indifferent to their current market value, the more stabile pricing will be. I personally don't have a real idea what kind of buyer is bidding up the values of many of the cars we're talking about....but I love these things and will continue having a blast driving mine (7k miles this season).