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I think the 928 is a tough car. I have been doing my own work on the car and it has caused me to change my avatar to the bursting bubble. While I love it, and feel a great sense of accomplishment, starting out with a sound example is Key. I Think there are some serious weak points to these cars that can result in catastrophic failure.
I agree that prices will only move up as they probably have hit the bottom a few years ago. I don't think the 928 will ever get crazy high, nor do I believe they will ever get to their sticker price again. The Porsche brand has been about the rear engine models, that is what makes them unique. The big money has decided that Italian sports cars are the jewelry they want to wear.
Then there is the buyer of american cars they are looking for 50-70s cars. After that, there is a vacuum of suitable cars. Looking at 80s cars, European cars can fill the void by the lack of Detroit's innovation during this time, but European cars are so different, that I am not sure the American car buyers will cross over. It might be #3 monte carlos that command top dollar. Will be interesting to see where the 80's market heads and which car emerge as the must haves.
I agree with much of what you post, and there are indeed some interesting cars form the 1980s which are interesting and holding values still, or in some cases, commanding what they were new, or more.
Some examples of this are:
1986/1987 Turbo Buick Regal and Grand National
1987 Buick ASC GNX
1987-1991 RPO B2K Callaway Twin Turbo Corvette
1988/1989 Corvette Challenge cars
1987-1992 5.7L Camaro
1987-1992 5.0L 5-spd Camaro (TPI)
1987-1992 Pontiac GTA
1989 Pontiac PAS Turbo Trans Am
Saleen Mustangs
1988-1991 BMW M3
1984-1985 Audi Quattro Coupe
1981-1983 DeLorean
1988 Pontiac Fiero
Shelby Dodge GLHS cars
Other interesting cars:
1984-1986 SVO Mustangs
1988-1989 Toyota MR2 Supercharged
1984-1993 Mustang 5.0L SSP
1984+ VW GTI
There might be others, like the 1984 Trans Am w/ the 5.0L and Recaro seats. the 1980s Camaro convertibles, and some other obscure cars... Olds 442 and Monte Carlo SS are nice, but not on the same chart as Turbo Regals from 86/87. The 78-85 Turbo Regals also don't share the same high numbers, except for maybe the 1982 GN. Like I said, may be more...
Like Roger said guys are willing to pump cash in these cars. I have an 88 in right now that sat for 10 years in Greece. It's is a 5spd with LSD. But will likely cost at least 30k to bring it back from the dead. Plus the cost of getting the car here.
For the owner it's a bit sentimental, but he also sees the benefit in just doing everything so it can be driven without to much worry.
Roger a massive order will be coming.
So yes I see the values going up as guys now have the cash to play. It's the cycle as mentioned.
Well, they aren't making any more of them.
...
As is recommended by most all collectors. Buy and collect the things you like. By taking care of something you genuinely like it's value will increase.
This.
Following this advice, when the market tanks (and it will, it always does but we don't know when) riding it out will be much easier as you own something you genuinely like and the market price is just a temporary inconvenience.
By the way, my theory is that when the market tanks, 928's won't be hurt as much as the lava hot 911 market precisely because the hot one has so much farther to fall and many speculators jumped in. Not so much in the 928 market.
A good example of inflated markets and a "bubble" is the 1996 Grand Sport Corvette. At the time of its 10th anniversary, right in the midst of the housing bubble-funded market frenzy, a lot of funny money (and values) were placed on cars. The 1996 GS went from a $30k car to a $45k car, to some examples selling for $85k+ Then the bubble burst...
So now, one can buy the same GS cars for $45k-or so... Someone took a $40k bath, if they bought into the hype.
Presently, I see the 928 GTS being fueled by some emotional aspects of the market. Sure, it's a cool car, but as pointed out in other threads, it isn't Prancing Horse or Raging Bull cool... Just my 2c.
Wow,
Every time I read one of these "market" threads I am just buffeted by a series of impressions...
1) I really like the idea of being rich someday because I bought "lower" and sold "higher" ! !
(What would I do with the money? Maybe buy a 911 ?)
2) I really like the idea of the 928 never rising in value because I would like perhaps to pick up another one to enjoy at some point.
3) Many times it seems that there is "less love" for the 928 by the speculators. Why should I care? If someone can invest and make profit, how does that affect me?
4) Will rising "collector's value" make it more expensive to own repair maintain and operate?
Bottom line, I think the aspect that draws me most to the 928 is that, it in some ways is like the VW Beetle of the Porsche family. Fun, relatively affordable (in super car terms lol), almost has a mechanical personality of its own, etc etc.
I would rather not see the value skyrocket. Owning is more fun than selling. This is a hobby for me and my family.
Just one nutter's opinion.
Dan
Last edited by Daniel5691; 01-01-2016 at 07:29 PM.
Reason: splelign
Wow,
Every time I read one of these "market" I am just buffeted by a series of impressions...
1) I really like the idea of being rich someday because I bought "lower" and sold "higher" ! !
(What would I do with the money? Maybe buy a 911 ?)
2) I really like the idea of the 928 never rising in value because I would like perhaps to pick up another one to enjoy at some point.
3) Many times it seems that there is "less love" for the 928 by the speculators. Why should I care? If someone can invest and make profit, how does that affect me?
4) Will rising "collector's value" make it more expensive to own repair maintain and operate?
Bottom line, I think the aspect that draws me most to the 928 is that, it in some ways is like the VW Beetle of the Porsche family. Fun, relatively affordable (in super car terms lol), almost has a mechanical personality of its own, etc etc.
I would rather not see the value skyrocket. Owning is more fun than selling. This is a hobby for me and my family.
Just one nutter's opinion.
Dan
+928!!!
I have already been priced out of many 80s cars I would have liked to own! 308, 328, testarossa, 930, E30 M3
There's an ebb and flow. The world economy is pretty hot right now and people have disposable income. Look at E Types, Ferraris, Classic American Muscle and 911's. Those are the gold standards of collector cars. All up in value. If the world economy tanks again like it did in 2007, you'll see those fall.
Good cars will always be worth good money. There will always be projects and aberrations in the market.
I guess since my car is a manual it is classified as a GT... and there were only 300 928's imported in 1990.....only 17 manual.... so woot
Nope !! yours is a modified converted automatic.... it never was and never will be a an original GT just like Daytona Ferrari coupes cut into roadsters are not "real "..... although some paid real money for them
I kind of wonder what this upward market means for cars like mine. I consider mine to me a restomod of sorts.... Cars like mine and Tony77 and S4ordie's cars that were highly modified but to very high standards....
Originally Posted by James Bailey
Nope !! yours is a modified converted automatic.... it never was and never will be a an original GT just like Daytona Ferrari coupes cut into roadsters are not "real "..... although some paid real money for them
Prices on resto mods (if done correctly) have been on the upswing for both euro & US cars for some time. MY69 Camaro RS's that typically sell for $ 70,000 vs it's counterpart resto mod selling at $ 120,000k+. MY60 Corvettes approx. $ 70K and with modern drivetrain etc., is pushing the price up to $ 110+. Get in line for an early Singer 911's resto mod that start at $ 350,000 and go up from there. Why? Some of us 50 & 60 somethings that can now afford what they want are ponying up for higher hp drivetrains along with braking, suspension, wheels, sound sytems, etc. for the full effect. Then there are purists that want the low mileage beauties that shell out big $$$ that get little use, re: fear of adding miles, stonechips, etc. Take your pick.02 T
Prices on resto mods (if done correctly) have been on the upswing for both euro & US cars for some time. MY69 Camaro RS's that typically sell for $ 70,000 vs it's counterpart resto mod selling at $ 120,000k+. MY60 Corvettes approx. $ 70K and with modern drivetrain etc., is pushing the price up to $ 110+. Get in line for an early Singer 911's resto mod that start at $ 350,000 and go up from there. Why? Some of us 50 & 60 somethings that can now afford what they want are ponying up for higher hp drivetrains along with braking, suspension, wheels, sound sytems, etc. for the full effect. Then there are purists that want the low mileage beauties that shell out big $$$ that get little use, re: fear of adding miles, stonechips, etc. Take your pick.02 T
Yes however "restomods" typically do not age well....what was a modern drive line 10 years ago is now old news , dated and often out of style. Your Camero being a perfect example used to be an alloy small block was cool , then big block 502 then 572, then LS1 , to LS7 ........Once the modern driveline is no longer modern.
But you are correct some people simply can buy what they want because they want it and can afford it.
Presently, I see the 928 GTS being fueled by some emotional aspects of the market. Sure, it's a cool car, but as pointed out in other threads, it isn't Prancing Horse or Raging Bull cool... Just my 2c.
I disagree. The cars of the same vintage as the 928 are not so special and are not seeing the increases the 911's are. The GT's and GTS's are unique and are gaining notoriety. Nothing like the attention my 93 C2 which is seeing a huge increase in interest when I show up at C&C events. Suddenly the 928 like my C2 went from being ignored to having people make a B line to me to talk about it and want to learn everything they can about them. If this is indicative of what market interests are I will say that when the C2 started to gain interest and recognition amongst the Italian car crowd it was worth maybe $30k. Three years later I am seeing offers of nearly $70k and the attention and constant offers to buy are becoming annoying.
I think pristine cars will always hold their value. The rest no matter what it is will sink to the bottom as is happening in 911 land. I also find that unlike the attitude of years ago a well sorted 911 is worth almost as much and in some cases more than a bone stock survivor. My C2 has all the right upgrades and that seems to attract the average buyer who is looking for car to drive. While the market for my turbo is looking for a bone stock original car. I am assuming that the current 928 market is focused on originality but that might change.
Originally Posted by ROG100
Going up unfortunately - slowly the OEM guys are stopping making the parts. Buying directly from the original manufacturer offered a big price advantage over buying the same part from Porsche. To the large OEM companies our volumes are small hence they stop making the parts.
Generally while Porsche has parts in stock the price remains fairly static only increasing slightly each year with a small % increase. The problem raises its head when Porsche needs to restock. They will buy a large quantity from the OEM and also pay a large price increase for them to do so. Add on top of that Porsche's very high markup and the price goes through the roof. On the positive side the parts are available.
Maintenance items will always be cheaper because the volume is there for the OEM.
Then there is aftermarket - making Porsche quality parts is not cheap.
I started building a track car two years ago and priced out parts for 18 months straight. What I have observed is that some parts have increased in cost by several hundred percent while others have dropped. For instance a 964 mirror switch was $30 on 11/14 it increased to $70 by 4/15. Porsche classic has helped with availability but in many cases the parts are rising alongside the value of the cars. I am also finding that some factory parts are not the quality of the parts originally supplied even though they come in Porsche packaging.
As the classic division releases new versions of parts and the NOS disappears some of the increases can be considerable yet in other cases the prices have dropped by more than 50%. As the value of the cars increase it doesn't seem to make a difference to those looking to restore the car's since new parts only increases the cars value. Unfortunately this can hurt the average enthusiast that can't afford the increase.
01-01-2016, 09:20 AM
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