If 928s are holding their prices so well, then how do you explain the cars that have been mentioned here in this list during the past few weeks? Many for under even Anderson's Excellence listing which recently took a beating on the list. If you go by these recent mentioned, it would appear that prices are dropping on good cars. I'm skeptical though. Below are several thread titles:

Looking to buy 928 S4 87 or newer (read narrative)
1989 GT 6.0L 360 RWHP+ Stroker for sale - Price Reduced $19K
$8K '87 S4 advertised in Craigslist (Massachusetts)
While we were sleeping, missed this '93 GTS, 27K, $23,500!
1987 928 S4 Auto $8k
'91 GT for $18K
1980 928 porsche - $1200 LA/CL
1987 928 S4 Auto $8k *new pics
'87 928 250k miles on autotrader ($8K)
'89 GT for sale, $22,000, showroom cond!
1991 S4 for sale locally!!! (asking $19K)
87 Five Speed in San Rafael CA (asking $10.5)

ON THE OTHER HAND.....there were a few (obviously) really nice cars listed...but the action generated and interest didn't seem to be as feverish as the stuff above. As one example, the following GT was listed at $29K and it's possible that it's the best deal of the month!? The jury is still out on the GTS that Dave L got. That may be a real bargain too. Some of the other cars listed are scary. And a few may be OK? Cheap-to-buy 928s often are the most expensive.

Reduced: 4-Sale: 1989 Porsche 928 GT ($29K…and maybe the best deal in the bunch!!)

Harvey
Going broke on 928s and I'm out of play money...

 

Seasonal price variation, and the inherent wide range that thinly traded items sell for.

93/95 cars are collectible, which means low mileage is HIGHLY desired, and the new owner may not even drive the damn thing so appearance beats actual condition.

Everything else is already pretty cheap, except the flip cars that were cheap from the PO.

 

Does this mean that if one is VERY careful and willing to wait until the best "season" to buy and search hard, s/he has a good chance of eventually getting a really good deal? It would be interesting to know what people on this list actually paid for their cars. Then again, that's really immaterial since many of us Rennlisters spend a healthy fraction (or much more) of the original cost getting the car 'just right". It's these cars (in my mind) that can legitimately merit the higher selling price....like the $29K GT I mentioned above. A beautiful car...and i'll bet the owner dropped a wad in it to get it to that point (I'm just guessing).

Then, others with a POS come along and see the higher prices that "a few great 928s" appear to be bringing and try to get similar prices...but they're often not similar cars..not kept up...have expensive fixes looming, etc. It's these cars that one has to carefully sift through for real diamonds or diamonds in the rough....or fractured, worn, and no longer very desirable "stones." Some fixer-uppers are reasonable...and some don't make fiscal sense.

I think there are enough good deals still floating around that they're possible to still get. Just since I bought my '88, I've seen a few really good cars surface. How long that will be, i don't know. Older owners or their estates are still dumping them on the market from time to time.

However, if you want a genuinely great shape 928, be prepared to do a PPI and pay good money for the best. But we all wish to win the 928 lottery...and some hit it.

Just my take. Maybe I'm wrong? I recently bought a low mile S4 thinking that the prices will continue to go down...and I think they will....but the low milers (I hope) will eventually hold their own. Maybe they will, maybe they won't. But I chose not to wait and see.

Harvey

 

(no one ever listens...)

NOW HEAR THIS!!!...PRICES ON 928'S SUCK BECAUSE OF 928 OWNERS!!!

 

Low milers don't stay low milers unless you buy a car and park it.

Yes I do think certain times of the year are better than others to buy or sell a whole number of things.

If you are patient, have the money ready to instantly act, and really put your nose to the ground, yes I think incredible deals are out there, but thats also true of almost anything. The flaw in this system is that its really a lot of work, and if done right not much more effort is needed to keep finding good deals, so much effort is wasted if you just want one car.

 

I hope they continue to drop so I can upgrade every 6 months to a year or so... If the value of mine drops but the value of the S4 I want drops as well, I'm still in the game. If the GT or GTS I really, really want, drops, I can still flip the S4 at it's new lower value. It all relative with the delta dropping for me each time.

If you're looking to sell your 928 to get a non 928, yes dropping values hurt. But if you're just stepping up, it actually helps the average Joe afford the better toys. Or even more than one. Most of us here are not invensting in our 928. It's a fun toy that cost a lot more to run than an R/C from radio shack, but still a toy.

 

Prices are dropping, but nice cars are getting more rare. Plenty of the shopper type guys don't just flip, they drive the wheels off then flip.

If you want a "nice" 928 and you don't want to have one restored, my guess is the window will pretty much be closed within 5 years for affordable nice original cars.

 

it should be pointed out. That everytime one of us posts about the perfect S4 we got for $8,000 reduces the values of all our cars. If you get a killer deal, SHUT UP, dont share it, it only raises buyers expectations while also shrinking their wallets. When they know there are some of these crazy deals, they will hold off for those and not buy your car when you try and sell it for a reasonable price.

If you keep telling everyone your gold nugget was bought for $5.00 then dont expect $6.00 when you want to sell it. Then others with gold nuggets get mad too cause then they cant get $6.00 or $20.00 for GTS nuggets. They have to settle for allot less.

 

Not getting top dollar for an nice car isn't due to people talking about their good deals, nobody listens to us that doesn't have a fair idea of what a realistic price is, and ownership costs.

A 928 is just NOT the right car for 99.995% of the population.

I don't see any point in cultivating ownership in people who are not going to be happy, or not going to be able to afford the maintenance, or do it themselves. Work on increasing knowledge about the good things, tell the truth about the rest, and let people make their own informed choice.

The only real market for a nice well maintained 928 that isn't special in low miles or some other feature is right here on this forum.

 

What do you care if they are dropping or not. So what? It's not like we buy these for investment purposes except for a couple of the listers.

What I mean to say is that when you purchased your vehicle, it was at a price that made sense to you (otherwise you wouldn't have bought it). Here's a news flash... cars depreciate! Eventually, 928's will go up in price, but we'll probably have to wait another 20 years before there's any appreciable increase in market prices.

So, my suggestion is to no look back (or forward) and just enjoy your depreciating lump of metal as much as possible and be thankful that you're one of the lucky few that were able to afford a supercar which I would argue still retains about 80% of its value for about 20% of the price of new. (Damn that Pareto guy sure was smart!)

All that said, there is some seasonal fluctuations in car prices. Up here in the snow belt, there are many men faced with a wife laying down an ultimatum that the 928 that has been taking up space in the garage has got to go so she can park her Ford Exploder in the garage. So one man's bitch, can become another man's bounty.

 

ONLY matters if you're buying or selling.

 

All of the comments contain interesting perspectives...and genuine merit. While the prices may be all over the board, that can be good and bad. They've just not stabilized yet. In the meantime, we enjoy and not worry execessively about tomorrow/. I find this discussion enlightening...and only wish it could be live, in comfortable chairs, with lots of food and beverages around to also be shared(I think I need a nice cold 7-up!). You're all a great group of guys.

I like low mileage cars and buy them because I know the engine, if taken care of, (and I'm doing the taking-care) will outlast me. And I figure the other components (minus rubber and a few pumps) will last several times longer in a low miler than a hi miler...if the car's been care for...thus (hopefully) putting me ahead in the long run, and result in reasonable return when I sell to upgrade to the GT or GTS that many of us aspire to (this is relative, as mentioned above). If I don't get there, then I'm driving the best available. And if you shop carefully, you can buy a good car w/enough margin to fix all the rubber parts, fuel pumps, etc. that tend to have a shorter life, particularly in cars that were garaged. That's my plan...to always have a 928 and try to keep it the best I can afford. Because I've learned how to do much of the mechanics and have all the manuals, special tools, etc., it would be crazy for me to have to learn a whole new marque all over again at my age...particularly when the updates to my car wouldn't be all that much....and i can add to my 928 as I wish with aftermarket goodies. I don't buy my cars to collect...although they're almost collector quality. Working on them is 1/2 the fun of ownership for me. I'll probably keep buying 928s as long as I need a hobby car that can function as anything else I want it to.

Keep on keeping on. What a great group you are. We have great cars and we want to continue that tradition. Just think what the non-928ers are missing out on? I'm finding that many of the younger guys (owning other cars) can't wrench and mostly don't wish to (I belong to the Audi TT group....they mostly get new wheels, shocks, tires, exhaust, etc.....and the 968 groups...and they're starting to wrench some on their engines...but many still rely on dealer/shop mechanic work for most stuff.

Harvey

 

Yes - the car shopping business has been this way since the first used car hit the market sometime back in the 1800's.
Sad but true. Friend of mine who has sold more OB's than I can remember for prices that would cause most on here to faint - love's these threads.

On one had we all want prices to go up since we own the cars. We complain, argue, start flame wars about how / why prices will go up etc....
But then every time a "how does this car look" thread pops up, we do not hesitate to rip the car apart, call it a rip-off, too expensive, X is wrong with the car walk away, wait for an S4 (love this line ). We as a community seam to love treating every used 928 with a half empty glass.
Still puzzles me to this day. Just look at the comments in the Barrett-Jackson thread I started
.

 

Because of guys like you harvey posting this negative drumbeat. Keith is right about this. What the 928 needs is people like rds in jersey who make their cars look awesome and the new guy who takes poster like pics of his well cared for 928.

I simply never see the same put down of one's own chosen car on other models or brands. And when i see pics of interiors where it looks like it hasn't been cleaned in years or engine bays that look filthy, i just don't get it. The prices have fallen to the point where many cars fall into the hands of owners who can't or won't maintain them.

 

Couldn't agree more. If you're buying these cars as an investment, I'm afraid you're investing in the wrong things, IMO.

And as far as shutting up about good deals, whatever.

Stick your own head in the sand if you like, but I prefer as much information as I can regarding any particular purchase. 928's are no different in that regard.

I never understand all the hand wringing about 928 prices and the constant debate. It all seems very simple to me. I have a certain budget. I want a certain car. I figure out what year range and condition I think I can afford, and I go looking for it. If I've done my homework, I will more or less get what I want.

If I have not done my homework, or I am unlucky (it happens), I will not get what I wanted.

Very simple.