John V

Jim,

I understand your point but look at Ferrari numbers comparing year ranges. If we look at 928 ob/s2 (1977-1984) versus 1977-1984 308, there are actually MORE 308's than 928's (22 versus just 14 928's). Then look at newer 928's (1985 -1995) versus that same year range 328/348 and the numbers are also close ( 53 versus 44). Granted, Ferrari renamed their cars as engine displacement increased but the evolution of the market segment is reasonably comparable. The 328/348 evolution involved quite a bit more than just displacement (transverse versus logitudenal engine) but it still compares quite well cost and performance wise to a like year progresion from an 86 s4 to an 87 s4. Still the supply versus demand argument fails to translate. There are 67, 1977-1995 928's on cars.com and 66, 1977-1995 Ferrari 3 series on cars.com. If you check ebay, the 928 is well out numbered by 3 series F cars, still their prices hold higher. It would be interesting to see how many vehicles actually change hands. I suspect as a function of supply percentages, more 928's than F' 3's change hands but thats just a guess. If true, then one could argue that with similar supply, the higher demand could be attributable to lower prices OR couldn't one also argue that 928 sellers are more willing to accept lower prices despite higher demand?

shmark

I hope you're right. I've followed the Porsche market just like you mentioned and the 356 has risen to levels I wouldn't have imagined. Ferraris are the same, been in that market for a long time too. It wasn't that long ago that a nice 308QV was a 28k car, GT4s were in the teens and 400s were almost giveaways. Now the same cars are 40k, 25k and 30k. I'm still kicking myself for not buying a 1986 328GTS seven years ago...for 35k. That car is worth more than 50k today and rising. Hopefully 928s will rise, but I'm not holding my breath. I will buy and enjoy them.

laneskelton

I drove a nice 308 QV down to Montery a couple monthes ago for the concoarso italiano, and it was a fun car, but the whole time I kept twlling myself that my 928 is a better car. THe ferarri feels really unstable at high speeds (wind was pushing it all over the road) The 308 was nice, but they are not close to as strong as the 928 is, and the 308 is worth $40,000 and my 928 is worth $5,000 at the most. I'll take my 928, my 996, and have $7,000 left for a nice 914, or a 911sc.

John V

That's pretty much my point - in most respects -intitial price, available units, performance , reliability, maintenance etc... our cars are on par if not better in many ways. Yet that doesn't show in the values and not only does that confuse me, I don't understand why those of us that know how good the 928 is aren't also troubled by the disconnect in values.

If you visit sites like F-chat, you will notice a very different mentality. Most over there like their cars and actually expect good examples to fetch a good price. Folks are applauded and encouraged to spend extra up front to get a good car. I've never seen anyone ridiculed for spending too much on a nice car. Rightfully so, since that route is normally cheaper than buying a neglected one cheap and bringing it back. We have that mentality too, but only to a point. Many here become indignant when a nice 928 commands a price the masses feel is higher than the norm. I don't quite understand that when we all know how much it costs to keep up a good example. I understand why we like low prices for affordability but I would argue that just as many would like Ferrari's to be affordable, but they haven't declined under similar "wants".

If it's not already apparent, I will not sell my OB for what some folks here think it's worth. I believe I will get substantially more than accepted values and I feel it's worth it. One of my biggest fears is that IF and when I succeed in getting my price, the new owner will find his way here only to be "educated" that they over-paid and I will be the bad guy. I know some others that feel the sam way but that way of thinking seems to be the minority view here and I think that's as much the reason for depressed values as is the supply /demand equation.

kjurkic

Any item is only worth what someone is willing to pay for it.

If you find someone who will pay you $20k+ for your OB, then that is exactly what it is worth. (going once....going twice....)

See article below. Car with $550k intrinsic value has only $56k extrinsic value
Clipped from BC Province Newspaper- full article here
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The sale of two significant vehicles this month have added to my dilemma. A 1911 Oldsmobile sold at the RM auction in Hershey for $1.65 million. Other than having a very solid rust-free body, it was a basket case! The price is an astonishing sum if you consider the recent sale of a 1985 Buckingham at an auction in England.

The Buckingham is a remarkable motor car commissioned by an eccentric millionaire. It took eight skilled Aston Martin Lagonda craftsmen three years to construct. The build cost for the vehicle is reputed to have been in excess of $550,000.

The radiator badge was produced by Garrards, the Royal jeweller, in gold and black enamel.

The car sold for a mere $56,000. With only 348 miles on the odometer, this has to be one of the most expensive cars built, costing $1,580 per mile.

Is it time to throw away my industry value guides, reams of research material and create my own classic-car value dartboard?

Nigel Matthews is the manager of specialty vehicles (vintage and collector cars) for the Insurance Corp. of B.C.

ICBC's Collector car program assists enthusiasts in the licensing and insurance of antique and collector vehicles. Learn about the program by typing "collector car" in the search box at www.icbc.com, or call (604) 661-2201

© The Vancouver Province 2007

dr bob

I think that the fact that there are sub-$5k "drivers" available in some volume is limiting the top of the market for a similar-style better-condition example. Buyers seldom appreciate that the cost of bringing the cheap car up to the condition of the better car, so the price ranges are unfairly compressed. The comparo to the 3-series F-cars is a case in point-- There just aren't many beaters showing up in the market. Even marginally-maintained cars with good cosmetics will bring relatively good money. As soon as we can get the cheap barely-driver cars off the market, the 928 will elevate out of "used car" status. So long as there are cheap ones on trader or e-bay, the top end of our market will be held down. Buyers' perception, sellers' willpower on holding the price. Those are our challenges.

robot808

SOYLENT GREEN IS PORSCHES!!!!!!