Do 964 prices follow the housing market?
09-25-2014, 03:41 PM
#1
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Do 964 prices follow the housing market?
It seems to me that the price of 964s trend like houses: the lower/intro ones sell very quickly and the very high end seem to be trading hands. The middle-range cars ($40k-$75k) linger. This seems to be the case with the housing market locally.
The same seems to be true of timing. I had a heck of a time selling my 993 last fall - they really sold quickly starting around May.
The reason I ask is because I'm running into this experience again. I realize now that I priced my 964 too aggressively, but to be candid, I didn't want to be the only person in the world to lose money on a 964. I have dropped my price very significantly to get it sold before winter.
My question would be: is there a suggestion as to how to recapture the interest of someone who may have glossed over my car because of the price? Obviously, I can't just relist. Thanks.
The same seems to be true of timing. I had a heck of a time selling my 993 last fall - they really sold quickly starting around May.
The reason I ask is because I'm running into this experience again. I realize now that I priced my 964 too aggressively, but to be candid, I didn't want to be the only person in the world to lose money on a 964. I have dropped my price very significantly to get it sold before winter.
My question would be: is there a suggestion as to how to recapture the interest of someone who may have glossed over my car because of the price? Obviously, I can't just relist. Thanks.
09-25-2014, 06:20 PM
#2
This is true of pretty much any commodity. Whether its a 964, Acura NSX, Ferrari F40, Houses, Stocks, ect. If the economy is doing well, prices move up because demand goes up. Same with the inverse.
Just as with houses, if you want to sell quickly, price it lower than the market norm and have multiple bidders fighting each other for it. Or price it aggressively high and wait for an idiot with too much money and no patience to come along and buy it.
You also must consider "opportunity costs" of the buyer. Sure someone might pay your 50K asking price. But they could just as easily buy a 997 that is well optioned, a 993, or a 996 Turbo.
Personally, to me it looks like the air cooled market has plateaued, and prices have generally stabilized in the 30K to 40K range for a 964 depending on model, condition, miles, ect. Just my personal opinion, as I have been looking for over a year.
Good luck with your sale.
Just as with houses, if you want to sell quickly, price it lower than the market norm and have multiple bidders fighting each other for it. Or price it aggressively high and wait for an idiot with too much money and no patience to come along and buy it.
You also must consider "opportunity costs" of the buyer. Sure someone might pay your 50K asking price. But they could just as easily buy a 997 that is well optioned, a 993, or a 996 Turbo.
Personally, to me it looks like the air cooled market has plateaued, and prices have generally stabilized in the 30K to 40K range for a 964 depending on model, condition, miles, ect. Just my personal opinion, as I have been looking for over a year.
Good luck with your sale.
09-25-2014, 07:33 PM
#3
Three Wheelin'
I agree that prices have stabilised but after the initial excitement the market has become more picky - those that are priced right don't hang around.
Last edited by Mondrian; 09-26-2014 at 01:42 AM.
09-25-2014, 07:47 PM
#4
Nordschleife Master
The problem seems to be that you've only had the car for one year and the dealership where you purchased it was very much on the forefront of the 964 value ascension.