I'm rather ashamed to be amongst so many owners who undervalue their cars.

I hate to have to say that, but also, I'm not surprised, because I've seen a lot of you driving beat-to-**** 928s that I wouldn't even want to sit in, let alone drive.

I'm not trying to judge anyone, nor am I saying my car is jewel, but honestly, shouldn't we be the first to overstate the glory of our cars? Where's our sense of pride in ownership? Some of you think this 928 is worth the same as a decade old Honda Accord with equivalent mileage...WTF is wrong here?

I guess Keith Widom is right about us after all.

So FlyNavy, I hope you take right pride in your car and find that buyer who loves the 928 for what it was meant to be, and not just for the fact it's cheap to buy. Let those who want to quibble over a grand or two and spend a pittance get the rat-trap they deserve, not your car.

 

A 928 is worth what the majority of people are willing to pay. You can accept that fact, or you can dream on. Still, I think an S4 like that is worth around $10k, but only one with working A/C, odo and tb/wp done.

Dan
'91 928GT S/C

 

My Italian Greyhound , Cleopatra is worth $50,000 to me Of course you can buy them new for $500 - $1,000 all day long... plus her recent medical bills were a couple thousand dollars so maybe $52,000... The "value" of my house has dropped about $200,000 in the last 18 months and no amount of wishfull thinking and positive mental attitude would change that IF I needed to sell it. What the Hell I propose that from this day forward anytime anyone asks about VALUE ,PRICE, GOOD DEAL , we all simply DOUBLE what ever we think so THIS car is worth $14,000 all day long !! The GTS with the Devek speed parts is easily $70,000 Ryan's new $8,000 90 S-4 purchase is worth at least $16,000 maybe more after he details it. The 87 5 speed at the internet dealer where he is asking $4,900 is worth $9,800 all day long. You know I think I like this....it puts a smile on my face So as of 05/30/2008 the value of ALL 928s just doubled. The "value" of the old very brown 1980 has been YEARS of smiles, a wall covered with First in Class awards , four annual class championships, more hours of track time than I can remember but those are not things I can SELL , thank goodness they will always be mine ! I would NEVER track a nice car so for me the old very brown 1980 is PERFECT and doing faster laps than so many much newer, nicer, more expensive Porsches , makes it even more fun for me. Like when a driver with a GT3 has trouble getting around me, what must he be thinking ???

 

There a lots of theories about how markets work and how prices are set, but the one SURE thing is that if we don't ask for higher sale prices, we're never going to get 'em.

That's for certain.

 

Mine just went up $10k

 

The 928 is something which some people WANT not something which they NEED. Want is an EMOTION which by definition is NOT LOGICAL. Once you accept that love, feelings make no sense at all it makes figuring out what someone will pay to fullfill a dream is equally elusive. The problem with a quick sale is getting someone without that dream to buy it because it is a "good deal". I get calls all the time from people who bought a 928 because it was so cheap... they could not believe that they could buy a Porsche and it has a V-8 !

 

Lifted from the $4,900 87 5spd thread..."I still want it... I don't know why I like cheap German cars. You think I'd learn my lesson. I've owned 5 of them. " I rest my case........

 

I agree with Chaad....We as owners should have more pride in what a nice 928 is worth. After all...if the value of our cars are ever going to rise it will be the seller that does so. If we as sellers ask too little I don't think there is a buyer out there that will insist on paying more.

As long as there are "beat to $hit" examples on the market ( and there are ) for "bargain" prices that in itself will hurt resale of even nice examples IMHO. You rarely if ever see a "beat to ****" corvette sell for say $2000.00 or less... in fact even badly wrecked vetts go for good money. The reason is most people like and want a vett...the 928 has still gone unnoticed by most. For our cars to rise in value there needs to be a desire to own one....a much better reason than " look, I just bought a Porsche for $1500.00" We all know that's the last "deal" you get as a new owner. Most people buy cheap...get discussed with what parts cost...never repair properly...have none stop problems because of the lack maintanice.... resell cheap and the cycle starts again with a previous owner discussed with the 928. I think the ONLY way this car ever becomes popular with the masses is if the parts become cheaper. I thank people like Ken for at least starting the ball rolling.

Something I have also noticed has been criticism of a car for sale on Craiglist somewhere having updated things like recent wheels or new paint??? I would say 98% of the 928 in this forum have been modified in some way either cosmetically or performance wise....This is not the NCRS. Probably never will be in my lifetime. Most 928 owners aren't interested in "correct" cars by example of what they themselves do to their own cars.

Isn't it bad enough we take crap as a group from other Porsche owners...now we devalue our brother in arms car. I have no idea the miles on this car but by the pics I see...+10K would not be unreasonable. I would go on and do the TB and WP though at least. Good luck with the sale.

At least its not losing value as badly as ANY new car. One big reason why I have mine. IMHO a New car = setting fire to your money.

 

Now, now Dean... didn't you just buy an S4... how much? And what was the offer you gave on my '86 when it was still for sale recently... hmm?

Dan
'91 928GT S/C

 

Dan....I did get a "good" deal on my 89 S4. But I knew when I bought it it was going to need thousands of dollars to get right. If I had thought that all I had to do was right a check for the car and I was done...I would of been very disappointed. ( as I write this its in the Garage not running waiting on a hall sensor cover from Germany ). I don't begrudge anyone a good deal. You'd be crazy not to take advantage of one if you could. All I am saying is a NICE 928 in nice running, maintained, nice cosmetic condition has GOT to be worth more than a 7 year old Honda Civic???? Am I wrong?

I don't remember your 86. Hope it went the way you wanted. Really...for all 928 owners out there.

 

I've said this before. I would never try to gauge value by the general tone here. For some inexplicable reason, many folks here seem to place very little value in these cars . I'm always confused by this since we are supposed to be the enthusiasts... meaning we should value these cars more so than the general population. We also know parts and labor haven't gone dowm. But it seems none of that is factored into the "worth" equation and it seems we do it, at least in part, to ourselves. I can't tell you how many times passers-by were surprised that my car was NOT a $50K car. I think in large part we're the ones lowering the bar and that seems to be OK, even preferred by some. I guess I don't get that mindset.

Are we completely oblivous to the the fact that dollar is NOT a stable monitary unit? Depreciation is one thing but to compound depreciation on top of the real inflation, not the ridiculous CPI number the goverment spews to the sheeple, is just crazy to my way of thinking.

In 2003, a gallon of milk cost under $2. In 2007, the national average was $3.19. We're not talking a non renewable comodity like oil... and I would suggest milks supply/demand dynamic has remained much more stable than it's price. This and the vast majority of other items (including oil) have been impacted by the dollars lower worth. Yet despite that, many still feel that 928 prices should continue to decline despite the built-in, very significant devaluation of the currency that is taking place.

I reject that worth is determined only by what someone else is willing to pay. Sure, that's part of it, but certainly not ALL of it. It takes 2 to consumate a deal and in the absence of a deal, the "offer" is of little consequence in defining worth. Cetainly looking at actual transactions is a decent indicator where there are valid statistical data bases with which to establish trends but I don't beleive the 928 easily fits that model.

My recommendation is avoid the list when it comes to values. Advertise locally at what you feel it's worth and let your circumstances and the market (which sucks at the moment) dictate the outcome. Not our Walmart mentality of naysayers that are willing to pay 3 grand for a tranny but feel the whole car is only worth a grand more.

 

Value is a funny thing ... I'm in the middle of a remodeling project and everything costs about twice what I thought it should. Meanwhile, if I tried to sell my 928, people would be disparage it (it's 14 years old for God's sake!) and offer only half what I wanted to get.

I suppose what's true is if I took the time and effort and looked long enough, I could find building materials and labor somewhere and get my job done for far less than the contractor wants. And, likewise, if were selling the GTS and was willing to wait long enough, someone might come along and pay closer to what I think it's worth.

As my sister says, you can have time or you can have money, but few of us have both.

 

I have been looking for a 928 off and on for 2 years. I would never pursue a car without AC and a broken odometer, even if I knew the owner and he lived down the street. Your car is one I would be interested in. Black and tan being one of my favorites, black and anything else is next. I check here, autotrader, pelican, etc regularly. There have been very few show up close to me, but I've taken a couple of weekend trips. I may end up buying the GTS at Exclusive motors in Charlotte, but I just hate to pay that much when I know it will be over 100k not long after I get it home. My .02

 

There is what appears to be a smoking deal on a GTS in NY, but a trip to Long island is tough from the deep south.

 

Well, the numbers are coming in about where I thought they might. I agree with some of the PM's, if I invested in its A/C, I probably would not want to sell - I do enjoy driving it.

Would love to head out to SITM, but can't swing the dates this year.

A gathering in this area would be great and the Colonial Parkway's a nice drive!

thanks for the comments, Mike