bobinbuff

I think if you are going to compare late model GTS 's with 993's you have to compare their origional MSRP's. 928's cost much more new. If they depreciate at the same rate as a 993 they are still more valuable.993's cost $5-7k less than the 964's they replaced.
My 964 cost $78k new. I can't get low $20s for it. I think a well maintained GTS will always be expensive but only because it was a VERY costly car new.
PS, I saw a 94 GTS for @$40 w/ 28k miles in CT. I called at once. Flood car from NC.
Luxury Imports. They claim they fix EVERYTHING and you shouldnt hesitate buying a $40k car from them with a SALVAGE title.
Whats the worst that could happen , they offer a 30 day warranty!

Steve Cattaneo

bobinbuff,

Lets start with all the relays, the MFI control unit, the ignition module, the cruise control unit, fuel pump, ABS and PSD control unit all failing or worse yet, an intermittent electronic glitch due to corrosion. I won't even get into the wiring and end terminal corrosion.

Maybe not within 30 days, but definetely within 1 year. Most of these electronic components will fail. A flood car is an electronic nightmare.

Steve C
The Great White

Mike Velez

Ed, you're not saying that the market for the '93 to '95 GTS is 20-30K are you? Where are these 30K cars? What's this 20K car like? I'm sure they have lots and lots of problems. The more cars there are like this, (beaten into the ground with questionable qualities) the more stable the market will be for a well kept GTS. I payed over 40K for mine, there's a car in Hawaii that someone on this board will probably pay $44 or $45K for, a car on Ebay that sold for $45K. So obviously the market is not where you think it is. The market is what someone is willing to pay. Just because you wouldn't pay that much doesn't mean the car's aren't worth it.

Ed Ruiz

You can think whatever you like, but I know of one 1994 928 GTS for sale for much less than $30k. It has about 100k miles, and is not in concours condition, but it has all it's service up-to-date and looks to be in good condition.

I know of two other 94's that sold for considerably less than $40k. YMMV. If you want to pay more, I'm sure current GTS owners will be happy to take your money.

928 Brothers

Big deal. There are always exceptions. For every GTS that is under 40k, their are fifty 993s under 32k and hundreds of 996s under 36k. The fact of the matter is that 94-95 GTSs are in the 45k and up range. These cars have and will continue to hold their value better than 99% of the Porsches of similar age or newer.

Early 928s don't hold their value at all. They have been the king of depreciation in the Porsche line up. But their is a new king, the 996s and boxters. These cars loose their value faster than Jaguars. With fresh 98-99 boxster in the low twenties and soon to be in the teens, they take the cake. 996s are not far behind.

Mike Velez

Ed, with all due respect, the market is what it is. You can’t tell me that the market for a good GTS with fewer than 50K miles is not over 40K. If that is your contention you’re just wrong. With fewer than 350 GTS’s in circulation the market is far from perfect. But, when just last week someone paid $45K, I paid $41K, and one in HI will soon, if it hasn’t already, sell for $44K. If you think I overpaid for mine so be it. I assure you that if you looked for a car similar to those recently sold, mine included, you will not get it for much less than the amounts recently paid. Because of the rarity of these cars you can’t treat them like a commodity, like other Porsches and other cars. Your 100K mile car is not a good example to compare to the others recently sold. You put two similar cars on the market one with 50,000 miles and the other with 100,000 you will see a ton of depreciation just like the car you’ve pointed to.

If you can find me a ’94 or ’95 GTS with full records less than 47K miles, perfect body with no previous damage, no dings, perfect paint, clean title, perfect interior, no cuts tears or excessive wear in the leather, no mechanical areas of neglect, all of its major servicing performed, preferably a 5spd, original wheels in good condition, and not in need of any major service (T-belt aside) that is for sale in the United States for under $35,000 I will buy it. I give you my word. My name is Mike Velez of Chino Hills, CA. After the car passes an mechanical inspection I will have cash in hand.
First my guess would be that you would not find the above car for that price. And, if you do I will buy it then immediately place it on ebay, advertise the auction in metropolitan area newspapers ($500 worth of advertising) and make a $5000 to $10,000 profit.

Please take me up on this offer.

Mike

tdelarm

No offense to Ed but I have to agree with Mike. I just purchased (w/the advise and help of all on the Rennlist) the Hawaii 95 GTS automatic w/26k miles for $44k. Purchase price includes; T-belt replaced, new front brake pads/rotors as of today ($1000), new tires, complete Porsche service records, clean carfax, no repaint or x-dents, pre-purchase inspection reports clean, driven by older couple-original owners (how fast can they drive on the island?) pristine tan leather int/white ext with exception of defective paint on the gas filler door lid covered by Porsche paint warranty, sheepskins on front seats since new…what else could I possible ask for? Wanted a shark since I graduated H.S. in 79! Or, maybe I should buy a $60 M3 BMW so I can look like everybody else at the grocery store in L.A. and sell it for half of what I paid for it in 5yrs or, keep the Porsche that will be worth more then the BMW in 5yrs and, gives me more satisfaction.

Spoke with a gentleman who recently sold his 95GTS manual pearl white w/12k miles for $60k and, it needed new tires & t-belt plus the $1500 for shipping to the East coast. =(

Now, would I prefer my Porsche over a GTS w/100k plus miles for half the price…you bet…Do I feel like I over paid for mine, maybe a little but I’m buying one of a few and want the best I can get so who wants to split hairs!

P.S. Shipping in sealed container is $850 to West coast from island =)

Tim

Mike Velez

Tim, Congrats. Wait until you drive it home from the port. It's a day you won't soon forget. Your car was one of the two that was being advertised in the LA Times that I reported on a few days ago. Be sure to write to Excellence to report the sale in their Market report. Congrats again.

Mike

LarryM

Tim,
Congratulations on the purchase! You'll love it. I paid a little more than I'd planned but when it's what you want, and the choices are slim you have to jump in. I paid 44 for my 95 5speed with 37k on the OD. I bought it in 99. Then 250 shipping from Minneapolis to Atlanta. Mines a little ruff since it spent most of its life in Boston. All of those gold hose clamps and some brackets are corroded and my paint looked a little sand blasted in the front. I would have sworn the prevoius owner did dougnuts on the beach,, weekly.
I installed the RMB on so I could here it. Now when the local SCCA runs they make sure I show up cause they love to here a 928 run.
Good luck
LM

Ed Ruiz

Congrats on your purchase. Use it in good health.

Two years ago, I saw a low mileage 94 GTS (AT) for sale on a Dealer lot in near perfect condition. The sticker price was $42K, but it sold for $38.5K. I seriously doubt that car will sell for more than what the buyer paid. YMMV.

Kaz

Point taken 928 Brothers but the fact remains according to the original author of this thread that the seller would not show any records on that particular GTS and it had a fender repainted for unknown reasons. So GTS's may be going for $45 grand all day long, but that one was worth skipping over, especially for a new 928 owner who knows nothing about the cars.

K

SL8GT

Anyone out there the lucky person who bought Eric Anderson's car? (1994 GTS, 5-speed, black/tan, 47K miles, polished Cup2 w/ new S03's, sold for $35K <-- pretty low price for this caliber/quality of car.)