911 values vs 928 amazes me
#1
Three Wheelin'
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There's a 1970 911S coupe is mint condition FS on Pelican's website. It's a beauty for sure, but at a 95,000 selling price. What in the world makes 928's worth so little compared to 911's?
http://forums.pelicanparts.com/porsc...s-goodies.html
OK a speedster or a 550 Spyder, I get, but an S 911 from 1970 worth this much and an early 928 in the same condition worth a tiny fraction? I know, I know, 928's were never a hit -- especially over the 911's that they were built by Porsche to replace. But based on capability, production numbers and timelessness -- all dynamics of car value should put the 928 at a MUCH higher price. I'm not complaining, as it makes my favorite model so affordable. But it just blows my mind when I see 911's going for these prices. Rant over.
http://forums.pelicanparts.com/porsc...s-goodies.html
OK a speedster or a 550 Spyder, I get, but an S 911 from 1970 worth this much and an early 928 in the same condition worth a tiny fraction? I know, I know, 928's were never a hit -- especially over the 911's that they were built by Porsche to replace. But based on capability, production numbers and timelessness -- all dynamics of car value should put the 928 at a MUCH higher price. I'm not complaining, as it makes my favorite model so affordable. But it just blows my mind when I see 911's going for these prices. Rant over.
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#2
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It's a simple matter of taste.
We have taste, they don't![Smilie](https://rennlist.com/forums/images/smilies/smile.gif)
Actually it is a simple (supply and) demand issue. The 911 is much more in demand than a 928. When a pristine example comes along, the price goes up.
We have taste, they don't
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Actually it is a simple (supply and) demand issue. The 911 is much more in demand than a 928. When a pristine example comes along, the price goes up.
#3
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Supply/Demand.
The other problem is that there are many 928's in very rough shape and people get the overall impression that they are extremely high maintenance and overly complicated. That last comment is true IMO but not too bad. However if you compare the 911 forums with the 928 forums you'll find that 911's have similar issues as the 928. Difference is that there are many experienced 911 mechanics and very few 928 mechanics. So the 928's continue to get hacked while the 911's are maintained to acceptable levels.
The other problem is that there are many 928's in very rough shape and people get the overall impression that they are extremely high maintenance and overly complicated. That last comment is true IMO but not too bad. However if you compare the 911 forums with the 928 forums you'll find that 911's have similar issues as the 928. Difference is that there are many experienced 911 mechanics and very few 928 mechanics. So the 928's continue to get hacked while the 911's are maintained to acceptable levels.
#5
Three Wheelin'
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If you look at the Delorean as a example -- it proves something is out of whack. Nice Delorean's are into the 30's. Almost no one has parts or know how to work on them. While we have the big three. There are a lot of ratty ones and they are not even world class in performance. They have/had a lot of mechanical problems yet they are worth more then 928's? Production numbers for the years they were made are on par with 928 too. Yeah it was made famous by Back the Future but we have Risky Business. Looker, ScarFace, etc.
#6
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Price = desirability x availability. 911s are extremely popular and early 911 are now very hard to come by (especially of one in good condition). Hopefully 928s will reach these prices, but looking from today's price stand, it won't happen any time soon if at all... Look at it at like Ferrari's - some models are worth millions and others you can have for the price of 928 or close. All are nice to drive though and all are FERRARI's to general public.
#7
Burning Brakes
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If you look at the Delorean as a example -- it proves something is out of whack. Nice Delorean's are into the 30's. Almost no one has parts or know how to work on them. While we have the big three. There are a lot of ratty ones and they are not even world class in performance. They have/had a lot of mechanical problems yet they are worth more then 928's? Production numbers for the years they were made are on par with 928 too. Yeah it was made famous by Back the Future but we have Risky Business. Looker, ScarFace, etc.
http://www.delorean.com/
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#8
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Price = desirability / availability.
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#9
Nordschleife Master
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The early 911S is a pretty rare and nice performing car...a restored or extremely good condition example is going to bring a premium vs. just about any other 911... That said, I have always felt the 928 is undervalued vs its beauty and performance and *SHOULD* be more expensive than same year/condition 911's but they are not... Go figure. That said, it means we can have several 928's vs. ONE 911 and I think everyone here really appreciates that when they are on the buying end, but not so much when on the selling end.
#10
Drifting
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Plain and simple... supply>demand for the 928s and demand>supply for the 911s. I suspect demand for the 928 is low because supply isn't really through the roof. I’m not sure why and don’t really worry about it because I like 928’s. Besides it's great for buying, just bad for selling.
#11
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I imagine the 928 community will hit some sort of inflection point where the prices of very well sorted cars will go up somewhat.
That being said, I think there are enough cognizant 928 vendors & owners that we'll have a reasonable number of used parts and parts cars available for the market.
That being said, I think there are enough cognizant 928 vendors & owners that we'll have a reasonable number of used parts and parts cars available for the market.
#12
Three Wheelin'
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My first Porsche was a 70 911S with 29,000 miles. Paid $6,000 owned it for 7 years and sold it for $6500 with 53K. It was probably the most fun car to drive I have ever owned. It was my daily driver and it had little to no torque down low but when it came on the cam at 4,500 it was a blast. Never completely figured out how to avoid going backwards. Took the $6500 and bought a 72 Pantera with 23,000 for $9,000. Kind of dates me doesn't it.
#13
Race Car
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Real Simple: Out of sight, out of mind. The 911 remains in production today in some form or another. It has almost 50 years of life. The 928 lasted less than 20. In spite of the rarity of the 928, the reputation amongst "Porschephiles" to this day is "Oh it will cost you $5000-10000 to rebuild the engine." As others pointed out, these cars were driven long miles and many were neglected.
Even if 1/2 of the 928s in the world were destroyed today, the value would not double.
Another reason for 911 popularity, beyond its Porsche Iconic status, it raced so very heavily and continues to today.
The 928 gets lumped in with the 924/944 by many because of the similarities and in spite of the vast differences.
The 928 will continue to be a cult following-and a bargain-for years to come.
The only way we grow the value is to attend PCA events, strengthen the 928 Owner's Club, making sure when we sell our cars people come to Rennlist, and to have our own events (as we do).
I have friends of friends with a Boxster. They got so excited when they saw my name in the local PCA magazine welcoming me as a new member. We'll definitely autocross and DE together in the future.
Michael
Even if 1/2 of the 928s in the world were destroyed today, the value would not double.
Another reason for 911 popularity, beyond its Porsche Iconic status, it raced so very heavily and continues to today.
The 928 gets lumped in with the 924/944 by many because of the similarities and in spite of the vast differences.
The 928 will continue to be a cult following-and a bargain-for years to come.
The only way we grow the value is to attend PCA events, strengthen the 928 Owner's Club, making sure when we sell our cars people come to Rennlist, and to have our own events (as we do).
I have friends of friends with a Boxster. They got so excited when they saw my name in the local PCA magazine welcoming me as a new member. We'll definitely autocross and DE together in the future.
Michael