linderpat

A new value standard may have been set yesterday. A very nice 79 5 speed silver, rub strip delete car, pascha interior, apparently sold on ebay for $33,033. What makes this notable is that it is a second year, 122,000 mile car, it looks very nice, but it is not a 3000 mile Kermit (concours quality first year car). The seats have tears in each one, the engine bay looks like it needs a top end refresh, and a few other things I noticed. It shows as a good looking driver, and with an investment can be made into a good show car. But that price has been historically reserved for only the best of the best cars. We are seeing real movement in value now.
Here is the listing with pictures: http://www.ebay.com/itm/1979-Porsche...p2047675.l2557.

I hope the buyer finds this site. I'd like to hear more about the car, what plans s/he has for it, and of course more pictures.

WyattsRide

If that car truly went for 33K (I mean honestly without someone shilling for it) it makes you wonder what BluMax would go for, doesn't it?

curt_928

One data point. The other $5k cars on ebay don't move... I wouldn't generalize it to the entire market. The "under the tarp in the backyard" rust buckets are still practically worthless. Does seem that there are many many nice examples out there that appear when the prices start going up.

Also am suspicious to see if it will come back on ebay due to deadbeat bidder..

LT Texan

Unmolested and one owner.

And a 5 speed.

Looks like the seller didn't even bother to get the vacuum cleaner out!

How many early cars like this are out there, a dozen?

I can see the price being real.

Cameron

I have a hard time believing that it sold for that kind of money with that many miles.

But I sure hope that it did!

LT Texan

$33k is chicken feed for a potential collector looking to take a punt on a 928.

linderpat

indeed it does. But it would have to be a lot more to get my attention. I'm still enjoying my car.

As to your first point, I absolutely agree. The value rise, which is a steeper curve now, is for the good ones. This is always going to be true, with few exceptions. It is only recently that the junk rust-bucket early 911s started to climb, but it has been a long time that the good ones have fetched top dollar. It's those $5K under the tarp rust buckets that don't move that drive the market upwards for the good examples.
As to your second point, I too am a bit suspicious of seeing this car back on ebay due to a deadbeat buyer. The converse could also be that the buyer is not a deadbeat, but when he sees it, it does not meet expectations.
We'll see.

dr bob

If you watch any of the 'live' auctions, prices can go up on cars when there is some personal attachment to a car. Sometimes it's financial speculation, but more often the idea of something that someone has "always wanted". So we get blips in the space-time continuum.

Seeing increases in prices like this will hopefully coax the cars out of the barn and from under the tarp in the south forty. Values on the better cars might then shed their perceived constraints in the market. Hard to get $30k for a good early car when there's a same-year ran-when-we-parked-it car for $3k that "just needs a little restoration".

Mongo

And that will hike the market up for our cars a little bit

ROG100

Really good news - now where did I store those 78 and 79 cars??

waynelambright

This is what I have been telling my investors. I think I could get 80,000 if I have the car in Beijing China with sign, $80,000 USA currency only. Drive home today. Thanks for the share Renlist.

Imagine the 'butt hurt' when the Multi millionaire has to go home and search Craigslist "CHINA" for a 928. Guess what. There are none in CHINA.

It cost about $1200 to put it in a container.

waynelambright

I think I could get $80,000 in China. Put in window, with tall sexy models for a few hours at rush hour in the high rent area. Imagine "glass windows, lots of bright led lights, Porsche 928 in full glory, glints of shine from all angles. Free gas with purchase for 1 year.

BOOM

Heads explode. We'll get a buyer first day. Dude will be driving it home and probably end up on WreckedExotics.com and we'll buy it back for scrap.

Rinse and repeat. Who wants to make some money with me doing this.

I sold 700 cars working at the dealer for BMW, LandRover & Porsche. Newport Beach California. 707 604 7672 Lambright@gmail.com

Captain_Slow

What are the import taxes or tariffs on importing cars to China? Importing to Philippines will cost you a huge tax on the "original sticker price" of the car (they don't care that it's old now). The Philippines does this to help the "local car industry" (translation: guys with shanty shops that hand fabricate fake "Jeeps" and the ubiquitous "Jeepney's". There are reasonably priced used cars and "multicabs" (non-street legal small utility trucks we might see used by golf course greenskeepers) - but the low prices indicated some level of bribery to avoid the taxes. I think they also take them apart, which makes them "parts", which are taxed differently, and then put back together, moving the Japanese right-hand drive to left.

So...the Philippines isn't Japan, but I'd be really surprised if there weren't lots of similar obstacles, corruption, etc. when trying to import old Porsche's into China.

Hope I'm wrong, but I know it's never easy.

tlister67

While that is a nicely worn original car the price seems fishy to me. I might have to relax the budget on my pasha 78.

hwyengr

Think blue CA plates will be the new black plates, now that you can get new black plates from the DMV?