safulop

OK now, many of you followed the recent sale of my S4 with interest, and I would like to thank everyone who helped whip up the auction. I also want to thank everyone here for helping me with the car over the years.

The value equation on this car:
Purchased in 2010 with 132K miles and working odometer, for $14K. Condiiton: good. Had a few small issues, was missing undertrays but generally nice. Had old tires.

Sold this month showing 156K miles and turning, but the odometer had broken twice during my time so there was a significant amount of missing miles. Condition: better than when purchased, still not excellent. No major restoration or paint had been performed. Sold with brand new tires, new undertrays, new battery, new floor mats. Price at auction: $13K.

So, values not going anywhere for high-milers I don't think. Unless I am the dumbest or unluckiest car buyer/seller in the USA. This is a distinct possibility.

newcollector

I was surprised you didn't get more for yours, and thought you were an absolute gent in accepting the sale.
I was even more surprised at the GT just now on BaT. Total steal, wish I'd bid.
Commonality on both was higher mileage; other common aspect was placement for sale after a torrent of 928s on that auction site.
There's been consistent good money for 86.5s, black on blacks, and weissachs. I'm feeling that OBs are still needing a breakout to a price they deserve.
Given recent sales history I'm definitely waiting until better weather or more likely next year before selling any of mine.
There might also be a slight downturn on P-Cars in general recently, the 911 bubble lifting the overall marque perhaps wasn't sustainable.

hacker-pschorr

I dunno man..... unless you can honestly say your car as it sold this week would have gone for the same price (or more) 5, 8, 10 or more years ago I'm not sure how you can keep saying prices are stale, even for the high milers.
I'm not seeing your car, showing 156k miles, with "a significant amount of missing miles" selling for $13k 5-10 years ago. You car would have been $8k all day long back then, at least the 10 year mark.

I said it before and I'm not trying to be an ***, just honest, but I still say you paid slightly over market for your car in 2010 which is skewing your perception on things. I probably would have paid the same for your car back then simply because I love that color combo and it was a very nice car, but as far as values go.....that's how I see it.

But, the reality is selling a car is like fishing. You need to be in the right spot to catch a big one and the fishing hole for 928's is always going to be significantly smaller than 911's.

You make a good point though when it comes to mileage. Once you get over a certain number, our cars falls outside of the "collector" market. That number for a 928 is probably around 60k or so, I'm sure I'll get flamed for that one since most of us appreciate what great cars these are even as the miles rack up. That's irrelevant to most car collectors.

Non original color and a custom interior which at first glance was nice......close inspection was not on par with a high dollar sale. Either the camera had a goofy lens on it or the stitching was far from straight in a few areas. Also the white on black was odd.....and I'm someone who usually likes the two tone stuff.
All in I think it was well bought and sold, no surprises. So yes, a great price to own a GT, but had the car been all original (in the same condition) I'm sure the price would have soared well above $35k.

I think that GT is a good sign the collector market is paying attention and not in a buying frenzy like we saw in the 911 world a short while ago (which has been greatly coming back to earth).

hlee96

Although I thought the '91 GT should've been higher than $25k, I thought from the very beginning that it would never hit much pass $28-30k due to the lack of original bits for the car and its high mileage.

On the other hand, I feel that the market has moved up somewhat, but not like 30-50% that we all hoped. My weissach was a prime example. Who would've thought a 97000 miles weissach with recently fixed odometer gear would be sold for $33000? Remember, there were some well respected car enthusiasts that thought my weissach should've been more than $38-40k easily.

I say we love these cars for what they are (providing joy in driving and pleasure in looking at it) and just be happy that we didn't loose 50% of our investment just in owning a new car for 3 years. Any return in investment or profit is just icing in the cake!

Good luck with your Maserati.
Hoi

Ninespub

Safulop: After dumping $20K in my 142,000 mile 928 in the past couple years....I don't care. I've done some tasteful mods that may diminish it's value to a purist but.....I don't care. I enjoy the automobile for what it is and when it gets sold it will never have been looked at as an investment, just a toy for a 70 year old guy. I'm still probably $5K from now having a $20K vehicle that I've owned for 16 years and enjoyed. If you bought your 928 for $14k and sold it 7 years later for $13K..... you done good. If you only spent $3K a year on a 25 year old exotic sports car while you owned it, it's less than the average bowler spends on his sport and far less than the depreciation and maintenance on a friggin' 5 year old Buick sedan. I hope your Maserati does as well. Congrats on the sale!

upstate bob

Ninespub..... I agree completely, but then I are a fellow geezer. Owned my 79 for several years now and if it never blows up I'll be happy. My daughter may get to sell it as executor..

Michael T

Ninespub, good way of putting it. If you bought it in 2010 and will sell it a $100 loss, what was the repairs and maintainance since 2010 versus the mileage?

GT6ixer

And let's not forget we are just in the beginning of the rise in prices and rediscovery of these cars for collectors. For me Day One was when BC's 86.5 sold for that incredible $52K last year on BaT. I think trying to predict a trend on prices is still a little early. I believe it will take another 2 to 3 years of sales before we have a better idea of appreciation​.

docmirror

This is gonna hurt a little.

Post number 3, who's nom-de-plume shall not be named - is right. Also Hoi, in the same theme is right as well. And - I gotta say there is real movement in the price of the 928s. The whole span of the cars isn't being affected the same, and condition + mileage is king.

The higher mileage, and auto trans DD type cars are still gonna be deals for the non-collector like me. But - as hard as it is for me to change my tune, the market is clearly moving up - but gradually.

I've been sitting on my GT for almost 10 years now, and it's finally gonna pay off like a Vegas slot machine. (that's my story and I'm sticking to it).

In fact, I'm shopping a 928 right now that I may jump on which has some profit built in provided I can get it right. We will see what we will see.

jcorenman

Safulop, I'm glad your car sold, and sorry that you didn't get more. But as Ninespub said, you did OK. I think the Friday close hurt a bit, I think the undocumented miles hurt a lot, and I think the mods hurt some. I don't mean any of this unkindly, but it is often often hard to keep perspective from the trenches.

You complained about getting beaten by the 944S2. That car closed about the same time, but was completely stock. That's worth a lot, to some buyers. It also had fewer miles but more importantly no broken odometer. Seriously, odo's break all the time. When it happens again fix it quick and keep a record of the missing miles, so you can say something like "odo broke, now fixed, and 1123 miles are missing". When you say "unknown" you are indistinguishable from the guy who happily drove 100K miles with a broken odo.

And if selling is important, then keep it stock and fix everything that needs fixing. To rise to the top you need to be special somehow. Special model, limited production (GT, GTS), perfect condition, rare options, low miles, completely original, whatever.

Again, congrats on the sale and enjoy whatever is next.

safulop

You are totally correct. I just bought a 2012 Hyundai Veloster for the kids and you can just imagine how little that's going to be worth in 7 years! Almost pays for the $3-4K/year in maintenance on the 928.

Now as for that Maserati, I have to admit that I am already into this 46K mile car for $8,000 in maintenance and repairs. Yikes. This was supposed to be a car in great condition, and it was, but on these things all it takes is one clutch job and some other damn glitch and you are way up on the bills. Mind you, it is faster, more technically advanced and more modernized than a 928...

I hold out the vain hope that someday the first production year of the Quattroporte series V will be a collector car.

safulop

The fact is, the eventual buyer of my car was the only serious bidder. And his $12,000 bid was upped to $13K thanks to some gadfly @coco who shill-bids all over the place and felt bad for me. Considering that I would have immediately accepted a $13K offer when I was on Craigslist, I can't be unhappy. But when I saw that 'batmobile' silver S4 go for $18K a couple of weeks back I got my hopes up. I thought I had a definite color advantage. Plus, I was contacted by more than one person who said they backed away from bidding on my car because they were afraid it would go too high. Killed by my own success? Auctions are hard to predict.

SeanR

I think you did well on the sale Safulop. Nothing to be depressed about for sure.

Bought mine 11 years ago with 147k on it for $10.5. Have put more than double that in to it and its still only worth about $10.5.

RennPartsDirect

I've already invested (and I use the term invested very loosely...) $10,500 into my 92,000 mile '82 and I haven't even gotten around to replacing the fuel lines and timing belt side of the equation. That amount coupled with the price I paid for it and I'll need to have all the stars align along with the earth, moon, and sun to find a buyer that loves it as much as I do to pay what I'd sell it for.

Our 928s are definitely not the kind of cars you want to flip. You usually pay exactly what it's worth otherwise it would have sold to one of the first dozen prospective buyers that looked at it and didn't want to pay what the seller was asking. Watching the sales on eBay is an excellent indicator of what the cars are worth no matter how much current sellers are asking for them...

At the end of the day, if you're not going to drive it, maintain it, and enjoy it you should simply stay away...

BC

I think I'll be putting my GT up there soon. I have work to do and it's very high mileage. It will have everything cleaned and replated and probably refreshed engine and a new TT.

Car market speculation is fun. Except for when it's not.

The awesome thing is that you can drive these cars and enjoy them while we wait for the market to do it's thing.

Also I know my 86.5 is mentioned. Just to correct the record or at least get everyone on the same page - I documented what was essentially a restoration of an already low mile 928. I worked on it for 5 years - including work on the engine. And then, on top of it, I was lucky with timing and such. David, the buyer is a very cool guy and an exceptional collector of various cars.

I hope this doesn't come off the wrong way - the car isn't always the only thing that has to be special - the story and journey of the car and owner can add to it all through provenance.

Im working on that now with my GT to have a complete story.