Cameron

I just saw that Schmitt has a 1 owner '88 with just over 19k original miles for basically $50k.

I bought my one owner '87 with just under 19k original miles for, uh, a lot less. Even traveling to pick it up, importing, driving it back, new wheels and tires I am way under $20k. I still have the original flat dish wheels.

Is Schmitt dreaming? Am I stupid to drive my car? I am up to almost 25k miles. Did I just drive $10k or $20k of value off of my car?

I kind of wish I hadn't seen his ebay listing now.

GregBBRD

928s are going up in value, very quickly.

Many people that currently own 928s will sell them to gain a few dollars.

Some people don't care and will never sell their 928.

Did you buy it to enjoy it, or buy it as an investment?

Madturk

He is fishing. Who knows he may get it

jeff spahn

I'll never sell. Who cares how many miles. Cars are for driving. If you are looking for investments buy Bradford Mint collector plates or Civil War Chess sets. You'll most likely do better.

ChristianR

schmidtt is dreaming, asking and getting is two different things.

its a car, drive the damn thing

James Bailey

I have been to a couple Barrett-Jackson auctions recently Reno and Las Vegas.. They did over $27 million in Vegas. Lots of people enjoy collecting cars and have the money to do it. Original and low miles seem to do best.

Cameron

I bought mine to drive it and enjoy it. Took it out tonight with the wife for a nice night out. Lots of great comments on the car. Some good comments about the wife too!

I am not planning on selling, and I am going to keep driving it. I was just floored by that asking price.

Bertrand Daoust

+1.

And to answer your initial question, yes it is happening.
And it is just the beginning...

oldfrat

I now own two sexy cars. A 1981 928 and a 1967 Corvette coupe. If you research these cars it is amazing how close they are in dimensions and straight line performance.

There is no question in my mind that the 928 is much better car. Comfort, fit and finish, features, handling. At least 3X better overall, maybe more.

But the Vette cost more than 3X more than the 928. I won't sell either, but my sons are already trying to figure out a way to inherit the Corvette instead of the 928 with no hard feelings among the siblings.

I'm not trying to rain on anybody's parade. Just suggesting that you enjoy the heck out of owning and driving your 928, without thinking of it as an investment. We all know we own a magnificent GT we bought at a bargain price. There is plenty of joy in just that.

Well, maybe the people who were the original buyers did not get a bargain, but they got a great car.

Brad

atb

The market is definitely starting to pick up. I've received three calls since the beginning of the year from PCA to assist buyers looking for low mileage 5 speed GTS's. These were all first time 928 buyers. None of these folks flinched when I told them that they were looking at a possible six figure buy in. Willhoit can't keep them in stock. It always starts at the top, and when the pristine GTS's are gone ( and from what I've seen they all but are) buyers will start to settle for the GT's and S4's. I'm talking low mileage and mint here. A 120K mile '88 S4 will never be an investment, regardless of condition. JMHO. If I had a sub 25K mile 928 of any year, I would seriously consider buying a high mileage one to drive and leave the low miler parked for 5 years and see if the market gets traction. It's exciting to see this happening with our cars.

OTR18WHEELER

I don't know if this helps or not, but here we go....
It's Friday , right?
I'm about 7.5 K on top of a 5K Purchace price, so I'm so far at close to 12K in a 5K car.
The thing is.. I know I can drive it anywhere, anytime.
PRICELESS!

Madturk

Well, 10 years ago you could have bought a Dino for $30k. Today they are about $400k. Do you think anyone cares on mileage on car like that?
You could have bought a 308 for $20k 10 years ago. Today they demand almost $100k.
Does anyone care on the mileage on a pristine 69 corvette?
I see 911 turbo's from the 80's and 90's going for over $100k with over 100k on the clock.
I'd say drive it if the value goes up great. If doesn't go up too bad. At least you've enjoyed it.
I think the 928 will go up in value for sure. So will the 348 and the M coupe if you ask me. But I would never buy a car as an investment.
The values goes up because these cars are fun to drive, when first rolled out they were top dogs, fast and rare. That is the formula.

Bmw635

Still kicking myself for not buying a 90 silver TestaRossa with 40k miles in an estate sale for $35k OBO about 2 yrs ago. I went home and search up technical resource for DIY and didn't find much help and knowing I didn't have money to throw at Ferrari dealer so I didn't come back with the cash. Heck saw 2 TestaRossa going for $50k and $55k a year ago and now it's $120k+.

I was looking at F360 going for $40k, F355 going for $30k , and 308 going for $25k about 2 yrs ago too.

VehiGAZ

Not picking on you Greg - I'm quoting you because you've succinctly expressed a very common perspective that I just don't get (says the guy with his '89 GT listed for sale at what may be last year's brass-ring price - or next year's give-away steal...).

Is the world so black-or-white? Cannot one buy a car to enjoy it for many years and make some money on it due to the good fortune of fortuitous timing in an appreciating market?

There are a lot of other great cars out there - is it not OK to sell one to free up the precious cash and garage bay to enjoy a different one?

And is it some sort of moral sin to make money on that first one so you can buy a more expensive one the next go around without getting the divorce attorneys involved?

VehiGAZ

Or you can stop kicking yourself and take a look back to determine what the next hot collector cars will likely be and find one or two of them to pick up at their market nadir...