Value of GT CARS
03-21-2020, 01:04 PM
#1
Rennlist Member
Thread Starter
Value of GT CARS
Stock market has been slammed by 30% or so. I know I have not lost 30% on my Porsche's and they are fun. Same goes for Rolex's and guns. Diversity may not be a bad thing these days. Even if it was not really deliberate.
Popular Reply
04-07-2020, 05:09 AM
Imagine if we treated all causes of deaths like we are with Covid-19.
To keep this GT car related, as of this year to-date, there have been over 357,000 traffic fatalities and counting. With about over 2000 deaths today alone (and counting). Data here.
Conversely, for deaths related to Covid-19, as of this year to-date, there have about 74,000 deaths (and counting) and 4,734 deaths yesterday, April 5. Data here.
Back to my original question. What if we treated road fatalities like we did with Covid-19, which as of now is far deadlier than Covid-19? Complete lockdown from driving all cars? That's not only taking a hammer to kill an ant, it's taking a bazooka to try and kill the same ant, with the person firing the bazooka being blind as a bat.
To keep this GT car related, as of this year to-date, there have been over 357,000 traffic fatalities and counting. With about over 2000 deaths today alone (and counting). Data here.
Conversely, for deaths related to Covid-19, as of this year to-date, there have about 74,000 deaths (and counting) and 4,734 deaths yesterday, April 5. Data here.
Back to my original question. What if we treated road fatalities like we did with Covid-19, which as of now is far deadlier than Covid-19? Complete lockdown from driving all cars? That's not only taking a hammer to kill an ant, it's taking a bazooka to try and kill the same ant, with the person firing the bazooka being blind as a bat.
Trauma and infection are two completely different pathophysiologies. You cannot equate the two. Driving has been made as safe as possible with the safety innovations. The risk of you getting on the road and dying is far less than 0.5% (best case scenario mortality right now for COVID). Imagine if getting into your car had that fatality rate. Would you feel good about the 1 in 200 chance you might die?
The exponential spread is another issue: one person driving on the road and causing an accident doesn't equate to 3 more people causing an accident and those those 3 cause 9 other accidents. It doesn't work that way. On the other hand, having a virus unchecked will exponentially infect the whole population. Even the best case fatality rates of 0.5% would equate to 100s of millions of deaths. Unchecked.
Also, you have to take into account the time course here. Without substantial social distancing measures we are looking at 100,000+ deaths in the US... in under 4 months. Total number of deaths for car accidents 2018? 36,000. If you don't social distance - this 100k? That will be worse, and you would have more deaths from one virus than a 10 years of car accidents.
Finally - injury/death related to vehicular trauma has been mitigated extensively over the years. If we were still bouncing around in no seat belt, no crush zone cars - with this many people on the roads travelling this fast - I'm sure nobody would drive until it was safer. We don't yet have a vaccine/treatment that is clearly effective. The only thing we can do is mitigate via social distancing.
My last plea here. The physicians I work with day and day out are putting their lives on the line. I've seen it. But they're not only putting their lives on the line. Their putting their families on the line. I've yet to see one single front line physician (ICU doc, ER doc, surgeon, etc) say - we should not social distance. We're smart enough to manage 4 adrenalin drips, a complex ventilator, kidney failure for 10 patients? We also are smart enough to know what's the best way to fight this. We see what this virus does day in and day out. I've seen some ****. But I've never seen anything like this on this level. And it scares me and everyone around me.
People on this forum are by and large motivated and intelligent people. I believe that. I also believe some of the stuff I'm reading about this virus comes from fear, denial, concern for economic self preservation - and those are all VALID feelings. I get it.
But trust me on this one, you don't want this virus.
03-21-2020, 01:22 PM
#3
Addict
Rennlist Member
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Yeah, you never know what your car is worth, until you sell it. But I do know that I’ve enjoyed my Porsche a whole hell of a lot more than my stocks this month!
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03-21-2020, 01:26 PM
#4
Rennlist Member
GT cars were starting to depreciate albeit less than the rate on other 911s......
2018 GT3s are listed for sale at their MSRP with low miles, but seem to be selling at 10-20K under.....Tourings are holding better but not as distinctive relatively speaking
2016 GT3RS are selling for the 150's and 160s with less than 5,000 miles......
Porsche increased production versus the 997.1 on the 991s tapping into the strong economy and the desire of many baby boomers to own a manual NA 911.........
2018 GT3s are listed for sale at their MSRP with low miles, but seem to be selling at 10-20K under.....Tourings are holding better but not as distinctive relatively speaking
2016 GT3RS are selling for the 150's and 160s with less than 5,000 miles......
Porsche increased production versus the 997.1 on the 991s tapping into the strong economy and the desire of many baby boomers to own a manual NA 911.........
03-21-2020, 01:41 PM
#5
Instructor
Hate to break it to you but your Porsches, Rolexes, and to a lesser extent even your guns are also worth 30% less. Don't believe it? Try selling one ... check the results of this mint 161 mile 2019 GT3 RS that just closed on bringatrailer for 177K down from 268K sale price clickme
03-21-2020, 01:52 PM
#6
Hate to break it to you but your Porsches, Rolexes, and to a lesser extent even your guns are also worth 30% less. Don't believe it? Try selling one ... check the results of this mint 161 mile 2019 GT3 RS that just closed on bringatrailer for 177K down from 268K sale price clickme
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03-21-2020, 02:04 PM
#8
Rennlist Member
It has been my experience that when anything of material value is consistently tied to its ability to hold a perceived or desired monetary position that the ownership experience follows the same curve. It has also been my experience there is way to help avoid or reduce this tension...find a car you really love. A vehicle that no matter the initial cost and change over time holds its most important feature, providing its owner with unwavering fun w/ quality, durability and service tied in. Porsche seems to get it, and I would guess it is why they can sell various models at different points in time for more than MSRP.
03-21-2020, 02:09 PM
#9
RL Community Team
Rennlist Member
Rennlist Member
Thank god for a value thread.
Because #CoronavirusNewsOverload
Because #CoronavirusNewsOverload
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03-21-2020, 03:19 PM
#11
Id imagine they ought to be way up right now. I know the local gun shops around here are all sold out of ammo. Maybe now is a good time to finally unload that $1,200 AR I bought during the 2012 panic! ;Q
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prl (03-21-2020)
03-21-2020, 03:28 PM
#12
Your Porsche hasn’t kept its value. No one is remotely interested in buying a car right now. They are worried about keeping a roof over their heads.
Dealers are trying to liquidate their inventory. Private sellers....get what you can if you need to sell.
This is why you don’t lease or finance depreciating assets. Pay cash and if **** hits the fan like it has, you don’t have monthly payments to worry about.
i hope everyone here comes out intact after the carnage of this stupid virus is done. Peace to all.
Dealers are trying to liquidate their inventory. Private sellers....get what you can if you need to sell.
This is why you don’t lease or finance depreciating assets. Pay cash and if **** hits the fan like it has, you don’t have monthly payments to worry about.
i hope everyone here comes out intact after the carnage of this stupid virus is done. Peace to all.
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03-21-2020, 04:00 PM
#13
“I think it's in the nature of long term shareholding of the normal vicissitudes, in worldly outcomes, and in markets that the long-term holder has his quoted value of his stocks go down by say 50%. In fact, you can argue that if you're not willing to react with equanimity to a market price decline of 50% two or three times a century you're not fit to be a common shareholder, and you deserve the mediocre result you're going to get compared to the people who do have the temperament, who can be more philosophical about these market fluctuations."
-Charlie Munger in October of ‘09.
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03-21-2020, 05:35 PM
#14
Yep, spent all my fun money on GT car...not getting rich on the car...never expected to. It's a sunk cost anything I get when I'm done with the car is a bonus. Anyone who still only has 1-2k miles on a .2GT car isn't having any fun with it. Get out and drive as soon as you can, especially now that we are social distancing. And the police are less likely to pull you over for speeding or worry about that excessively loud exhaust. Just enjoy the car and hopefully soon enough the tracks will reopen. Stay well everyone.
