Recent auction prices for 16 RS
12-21-2018, 02:38 AM
#46
12-21-2018, 03:23 AM
#47
Rennlist Member
Don’t be poor. Buy more cars.
12-21-2018, 09:50 AM
#48
12-21-2018, 10:56 AM
#49
I'm just in the mindset money I spend on cars is totally discretionary spending and once it's spent it's gone....goodbye, see you later....I never think "Maybe I shouldn't buy it because the market is down"....I've never bought something on the premise that the economy is doing good or bad.....My thought if you're spending this much money on a car and it's tied to the economy or your portfolio maybe you shouldn't be buying it.....That's just me though, everyone thinks different....It also helps that my profession, while not recession proof, doesn't really feel the impact if we went into one.....
12-21-2018, 11:51 AM
#50
Rennlist Member
I'm just in the mindset money I spend on cars is totally discretionary spending and once it's spent it's gone....goodbye, see you later....I never think "Maybe I shouldn't buy it because the market is down"....I've never bought something on the premise that the economy is doing good or bad.....My thought if you're spending this much money on a car and it's tied to the economy or your portfolio maybe you shouldn't be buying it.....That's just me though, everyone thinks different....It also helps that my profession, while not recession proof, doesn't really feel the impact if we went into one.....
also sometimes we critique the people that " stretch" and buy these cars, but in all honesty we need them , otherwise our cars will lose value quickly , as the demand will far exceed the supply even on GT cars
12-21-2018, 12:56 PM
#51
Race Director
I'm just in the mindset money I spend on cars is totally discretionary spending and once it's spent it's gone....goodbye, see you later....I never think "Maybe I shouldn't buy it because the market is down"....I've never bought something on the premise that the economy is doing good or bad.....My thought if you're spending this much money on a car and it's tied to the economy or your portfolio maybe you shouldn't be buying it.....That's just me though, everyone thinks different....It also helps that my profession, while not recession proof, doesn't really feel the impact if we went into one.....
So even though the market is made up of all these diverse buyers and sellers, transactions are usually done around the edges. Distressed sellers make the market, as they tend to set the price. Buyers that need to finance also find loans harder to get. So while your situation hasn’t changed, it does for enough people on the edges to make a material impact on the market.
12-21-2018, 02:58 PM
#52
i agree with your approach , but few people don't decide a market place
also sometimes we critique the people that " stretch" and buy these cars, but in all honesty we need them , otherwise our cars will lose value quickly , as the demand will far exceed the supply even on GT cars
also sometimes we critique the people that " stretch" and buy these cars, but in all honesty we need them , otherwise our cars will lose value quickly , as the demand will far exceed the supply even on GT cars
Look at any market as a collection of different buyers and sellers. Buyers include people like you, who are not sensitive to the economy. But in addition to you we have speculators, collectors, etc. Some buyers have all cash, some need loans, etc. And some need to sell something else first. The sellers include speculators, investors looking to lock in gains, distressed sellers who need to sell due to loss of job, or just people looking for something new.
So even though the market is made up of all these diverse buyers and sellers, transactions are usually done around the edges. Distressed sellers make the market, as they tend to set the price. Buyers that need to finance also find loans harder to get. So while your situation hasn’t changed, it does for enough people on the edges to make a material impact on the market.
12-21-2018, 06:04 PM
#53
Like all things, when you can buy when everyone has to sell, you get good deals. The funny thing I have discovered about the GT car market is that it has seemed to change with everyone expecting this super flat depreciation on them compared to other "exotic" cars. That old hard car track Rennslist enthusiast has given way to people who got sucked into the marketing and reputation of the Porsche GT brand. Where your original enthusiasts keep your cars longer, those buying on rep and cool factor are quick to leave the market. Think of how many incessant "value" threads that have been posted here.
Getting back to original point, with the release of the .2 GT3s, the release of .2 RS, the 600 LT, the Huracan Performante, etc, there is a lot of competition in this space so the 991.1 GT3 RS, which is the oldest player is going to depreciate. Forget auction prices, just look at Autotrader, so many cars for sale. 2019 is very much a buyers market for cars, especially the 991.1 GT3 RS.
Getting back to original point, with the release of the .2 GT3s, the release of .2 RS, the 600 LT, the Huracan Performante, etc, there is a lot of competition in this space so the 991.1 GT3 RS, which is the oldest player is going to depreciate. Forget auction prices, just look at Autotrader, so many cars for sale. 2019 is very much a buyers market for cars, especially the 991.1 GT3 RS.
12-21-2018, 06:16 PM
#54
Im still happy with .1 RS...I could trade and take a 30K hit plus ADM, blah.. I'd rather keep it and collect. I just drove my RS on the street...funny, because I have more track miles than street..It's an awesome machine on both settings. I don't feel compelled to get the .2 at this point. I also have a 6 sp 997 Turbo that is a blast...At some point they may appreciate, but I don't really care. It's an awesome car
12-21-2018, 07:15 PM
#55
Three Wheelin'
Maybe I'm just naive but I'm still confused how the stock market comes into conversation when we talk about whether or not someone would buy a very expensive toy or the "value" of such vehicles.....never once during all the cars I've purchased has market dictated what I was going to do.....it goes up, it goes down, it goes way up, it goes way down.....always has always will....to be honest if someone buys a car just because their portfolio is way up they probably can't afford it....again, maybe naivety on my part....
12-21-2018, 07:15 PM
#56
Rennlist Member
Im still happy with .1 RS...I could trade and take a 30K hit plus ADM, blah.. I'd rather keep it and collect. I just drove my RS on the street...funny, because I have more track miles than street..It's an awesome machine on both settings. I don't feel compelled to get the .2 at this point. I also have a 6 sp 997 Turbo that is a blast...At some point they may appreciate, but I don't really care. It's an awesome car
12-21-2018, 08:32 PM
#57
Originally Posted by 3Series
Yep naivety and little ignorance. You must be really wealthy and out of touch with most working professionals. Not a dig, just a fact.
Just different perspective on buying toys. Never have (and never will) stretch myself to buy a car. It's money "wasted" IMO. Although the car has value in my book the money is gone. That's just my philosophy on it.
That's why many, even really smart working professionals, fall into problems.
12-22-2018, 01:18 AM
#58
Race Car
When the tide goes out, it’ll be interesting to see all of the Instagram ballers that were stretched thin even when the train was running full steam ahead. The market will will be flooded with distastefully modded Huracans and R8s. A lot of these guys stretched themselves thin to try to gain fame on IG, and I think that’s the group some of you are referencing about the ebb and flows of the market affecting their exotic car purchase.
12-22-2018, 06:40 AM
#59
Maybe I'm just naive but I'm still confused how the stock market comes into conversation when we talk about whether or not someone would buy a very expensive toy or the "value" of such vehicles.....never once during all the cars I've purchased has market dictated what I was going to do.....it goes up, it goes down, it goes way up, it goes way down.....always has always will....to be honest if someone buys a car just because their portfolio is way up they probably can't afford it....again, maybe naivety on my part....
market is down 13-14% from its recent peak of almost 26k. That translates for some a 7 figure loss on paper. While it doesn’t dictate days to day purchases, for me it makes make think twice about dropping coin on a depreciating toy.
Its rs not that that portfolio is funding the car but you start to think that instead of buying a car, maybe save that cash for a rainy day or an opportunity to buy into the market on the dip or some other opportunities that may pop up. Money is made when there is blood in the streets and I see carnage ahead for people who over extended themselves.
12-22-2018, 08:07 AM
#60
Race Car
I agree with you. I have been watching the sites as well. You can find several cars with very little miles close to MSRP, thus driving the cars with 5-10K miles $10-$20k bellow.
Its definitely a buyers market and I think prices are going to keep moving downwards with the stock market trending down, high inventory for sale, new model not trading with super high ADM.
Its definitely a buyers market and I think prices are going to keep moving downwards with the stock market trending down, high inventory for sale, new model not trading with super high ADM.
