Super Nice (But Super High Asking Price) 928 GTS on ebay
01-08-2012, 12:32 AM
#76
Instructor
Thread Starter
Join Date: Dec 2011
Location: South Florida
Posts: 129
Likes: 0
Received 0 Likes
on
0 Posts
What would be a reasonable amount of miles to put on this vehicle annually and still maintain its high value? Would this example be strictly a showroom piece? I would be scared to devalue it.
01-08-2012, 12:56 AM
#77
Nordschleife Master
Its going to lose a chunk of market value the moment you buy it, some shortly after at 20k miles, again at 25k miles, and a bigger bit at 30k miles, then pretty constant loss til about 75k miles. Just tying up $100k in a car means losing out on a good $5k of annual return.
*** I don't live in a ritzy neighborhood, but several cars in my complex are more expensive than this 928, and an even larger number will suffer more depreciation.
01-08-2012, 01:08 AM
#78
Instructor
Thread Starter
Join Date: Dec 2011
Location: South Florida
Posts: 129
Likes: 0
Received 0 Likes
on
0 Posts
My vote would be, all that you can, unless you plan to be buried with a check you can cash in the afterlife. Even with some miles, its still one of a kind, which I think right now and later will carry more weight than the miles.
Its going to lose a chunk of market value the moment you buy it, some shortly after at 20k miles, again at 25k miles, and a bigger bit at 30k miles, then pretty constant loss til about 75k miles. Just tying up $100k in a car means losing out on a good $5k of annual return.
*** I don't live in a ritzy neighborhood, but several cars in my complex are more expensive than this 928, and an even larger number will suffer more depreciation.
Its going to lose a chunk of market value the moment you buy it, some shortly after at 20k miles, again at 25k miles, and a bigger bit at 30k miles, then pretty constant loss til about 75k miles. Just tying up $100k in a car means losing out on a good $5k of annual return.
*** I don't live in a ritzy neighborhood, but several cars in my complex are more expensive than this 928, and an even larger number will suffer more depreciation.
01-08-2012, 01:36 AM
#79
Rennlist Member
I wouldn't compare losing value on a GTS due to mileage with depreciation on a newer luxury car. Those other cars can sit in one spot and continue losing value. The same won't happen to the GTS unless the economy or collector car market dictates. Putting any significant miles on that car will absolutely hurt the value, at least in the near term. Long term, you may be right and it won't matter as much due to its rarity.
If I owned this car, it would only be driven on special occasions.
If I owned this car, it would only be driven on special occasions.
01-08-2012, 02:10 AM
#80
Nordschleife Master
I am not seeing youre first point about loosing market value the moment it is purchased. On the contrary this vehicle is increasing in market value. However, your second point about the miles makes sense to me and thats why I ask the question. What do you do, park it or drive it?
There is no great assurance that I can see indicating that the next generation will collect old cars, or the same old cars that are currently collected, so I see no reason to believe any estimates of increases in future value. It might go up in value, it might not, and it won't be cheap to keep regardless.
My thought is that if you can't afford to drive it all you want, you likely can't afford to park it and not drive it, which I think requires even more money as in a stable of fine cars you put a few miles on in a rotating fashion as it suits you.
What is amazing to me is that there is some chance that this car will be purchased by someone that isn't filthy rich, and that what it costs to drive it will matter to them. How much it matters will likely decide how much its driven.
OTOH much of what makes this car unique and of special value can only be enjoyed by driving it, otherwise why not park a cheaper low mileage automatic with a sun roof?
01-08-2012, 01:27 PM
#81
Rennlist Member
Join Date: May 2011
Location: San Diego, CA
Posts: 55
Likes: 0
Received 0 Likes
on
0 Posts
Here is the current 93 GTS wholesale estimate curve for last five years. This is for car rated in excellent condition. Obviously a one off sunroof delete with manual trans will cary a substantial premium
01-08-2012, 01:35 PM
#82
01-08-2012, 01:41 PM
#83
Rennlist Member
Where is the data for that curve from? Not really relevant for this car, but interesting information anyways. I would have expected '93 GTS wholesale prices to have been lower if this was auction data. Many of the nicer examples don't sell through auctions though.
01-08-2012, 07:10 PM
#84
Nordschleife Master
I suspect there are maybe a dozen or two people who have a genuine finger on the pulse of 928 prices. For someone like MW he is regularly talking to both buyers and sellers of 928's, so before he lists a car for a given price, or offers to buy at a given price, he knows about what will fly and what won't.
The rest of us, and most of the 928 market has too many variables to make more than ball park estimates on what a 928 will sell for.
The rest of us, and most of the 928 market has too many variables to make more than ball park estimates on what a 928 will sell for.
01-08-2012, 07:57 PM
#86
Track Day
Join Date: Dec 2011
Location: Auckland NewZealand
Posts: 20
Likes: 0
Received 0 Likes
on
0 Posts
Seriously $109K ?? Well i guess they aint making them anymore........
Here in NZ about 2 years ago I remember a 96 GTS came up for sale with only 3,000km's on the clock , old dude that owned it died , had it since brand new - well the car was like brand new still - nice colour combo too , charcoal grey with black & that sold for $90K NZD . Steering wheel on the otherside mind you . A lady bought it & uses it daily now......
Here in NZ about 2 years ago I remember a 96 GTS came up for sale with only 3,000km's on the clock , old dude that owned it died , had it since brand new - well the car was like brand new still - nice colour combo too , charcoal grey with black & that sold for $90K NZD . Steering wheel on the otherside mind you . A lady bought it & uses it daily now......
01-08-2012, 08:49 PM
#88
Rennlist Member
That's the GTS/S4 hybrid mess that is well known here. It's actually shown three times in that pictorial. I don't recall that MW '93 GTS selling on Ebay either. Maybe I missed that though. Same with the amazon green GTS that a Rennlister bought.
01-08-2012, 10:25 PM
#89
Track Day
Join Date: Dec 2011
Posts: 16
Likes: 0
Received 0 Likes
on
0 Posts
01-09-2012, 04:27 PM
#90
Burning Brakes
Seems like a lot of noobs posting in this thread????
This topic has been discussed many many MANY times. I see you are one of the new guys here so you might not be up to speed on the history of several of the low mileage GTSs that have sold over the last few years..... There have been several sold by Micheal for north of $100k. Search for Willhoit and you'll find several threads. I sold my 95 GTS 5M (12.5k miles) in 2007 for more than the original MSRP of $86k which was the high water mark at that time which has subsequently been bested several times since....... Throw the valuation books out the window as most are not even in the ballpark when it comes to the GTS. Additionally, Excellence Magazine is just as worthless when it comes to values...... Well, unless your a buyer and find an uninformed seller to take advantage of by using these numbers.
These cars are not like the housing market in any way as there is a seemingly an endless supply of houses available for sale at any given time vs a finite number of GTSs. Take a low mileage GTS, a 5-speed and the number is quite small. When was the last one you saw for sale? On the other hand, I can find 100+ homes available in your zip code!!!!!
He will get his price and he will get his price on the next low mileage GTS he gets his hands on.......
FWIW, if (IF) I were to consider selling mine right now the number would be north of $125k!
This topic has been discussed many many MANY times. I see you are one of the new guys here so you might not be up to speed on the history of several of the low mileage GTSs that have sold over the last few years..... There have been several sold by Micheal for north of $100k. Search for Willhoit and you'll find several threads. I sold my 95 GTS 5M (12.5k miles) in 2007 for more than the original MSRP of $86k which was the high water mark at that time which has subsequently been bested several times since....... Throw the valuation books out the window as most are not even in the ballpark when it comes to the GTS. Additionally, Excellence Magazine is just as worthless when it comes to values...... Well, unless your a buyer and find an uninformed seller to take advantage of by using these numbers.
These cars are not like the housing market in any way as there is a seemingly an endless supply of houses available for sale at any given time vs a finite number of GTSs. Take a low mileage GTS, a 5-speed and the number is quite small. When was the last one you saw for sale? On the other hand, I can find 100+ homes available in your zip code!!!!!
He will get his price and he will get his price on the next low mileage GTS he gets his hands on.......
FWIW, if (IF) I were to consider selling mine right now the number would be north of $125k!