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Does anyone have any theories as to why the market is so hot? Is it because people are not a fan of the 992, or is it because they aren’t patient enough for a 992 allocation, inflation, or all the above??
Someone posted this in another thread I believe. A little more focused on exotics but certainly applicable to GT3s.
Does anyone have any theories as to why the market is so hot? Is it because people are not a fan of the 992, or is it because they aren’t patient enough for a 992 allocation, inflation, or all the above??
Bunch of theories but who really knows. The market is flooded with cash with stimulus checks, reopened businesses and jobs (unused vacation money?). Everyone is on a buying frenzy. Homes, cars, etc. The chip and new car supply shortage doesn't help, but I don't know if I really buy into this. I've seen plenty of new cars on dealer lots. Used car market is 20-20% overpriced right now. I don't think this has ever happened in history.
they have another green one.... non-WP for $250k......go for it. This tulip market is nuts..
I have a white .2 with WP. Just kind of wanted silver and was curious what kind of money they wanted on top of a trade to get the silver they had Plus, Mag wheels.
Great question, I'm concerned that even my peon .1 is underinsured via USAA right now. It's time to look at a stated-value policy via Hagerty or something of the like.
Reading other threads comparing collector car insurers (or agencies, since they often don't underwrite policies themselves) and it really all boils down to restrictions. For starters, you will need to keep the car garaged at all times - so even if you pull the car out for 5 minutes to clean the garage and something happens to it, you may not be covered.
Another question is, where can you drive it? Will you be covered going to cars and coffee? Can you take a weekend drive up somewhere and stay at a hotel? The answers to these are far from straightforward and makes the whole insurance decision quite tricky..
For starters, you will need to keep the car garaged at all times - so even if you pull the car out for 5 minutes to clean the garage and something happens to it, you may not be covered.
Another question is, where can you drive it? Will you be covered going to cars and coffee? Can you take a weekend drive up somewhere and stay at a hotel? The answers to these are far from straightforward and makes the whole insurance decision quite tricky..
PTS Olive Green manual .2 GT3 with 4500 miles. CPO, PCCB, buckets, FAL, LED’s, and full leather with deviated yellow stitching. $189k original MSRP. Asking price is $200k.
I was willing to look at it, but the color is just not what I want my GT3 to be. So tempting with the other options on it, but I'm sure it'll be gone in a few weeks.
What is the premium in your mind for a used 991 GT3 with a desirable PTS color, vs. one without PTS (assuming all else is equal including mileage). I haven't been able to figure out how much extra value PTS adds - clearly a lot in some case, but I agree with you that this magnesium color doesn't look attractive.
Curious because I have a .1 GT3 in PTS Ice Blue that's supposedly the only 1 in NA in the 991 generation and wondering what that premium could be (if any!). These prices are tempting for sure...
Does anyone have any theories as to why the market is so hot? Is it because people are not a fan of the 992, or is it because they aren’t patient enough for a 992 allocation, inflation, or all the above??
It is definitely not because people are not a fan of the 992.
It is definitely not because people are not a fan of the 992.
Used992s are being sold with a markup above MSRP.
purely speculation but...
1. 992 supply is lower than normal due to Covid driven reasons - chips etc...
2. 911 demand in general is up due to people having extra money & time
3. buyers can’t get immediate satisfaction with a 992 purchase so they have to look at used, previous generations.
The above creates some interesting pricing dynamics and purchase behavior. If a 992 S with some options costs $140 msrp, then a GT3 can be priced well above that because of its image.
now, your a dealer that doesn’t have any 992s to sell, what are you going to do? You don’t have the volume to make $ by selling sub msrp new 992s like you would in a normal world so you get your hands on as many 991s as you can and push the price up.
Notice how there are what feels like a sudden surge in GT3s and RSs on the market? What could be happening here is that people are getting solid offers from dealers, well above what they would have been offered in normal times, and are taking advantage of it.
Additionally, I bet a lot of dealers are dangling a 992 allocation on the condition of an early trade in of your current GT3.
1. 992 supply is lower than normal due to Covid driven reasons - chips etc...
2. 911 demand in general is up due to people having extra money & time
3. buyers can’t get immediate satisfaction with a 992 purchase so they have to look at used, previous generations.
The above creates some interesting pricing dynamics and purchase behavior. If a 992 S with some options costs $140 msrp, then a GT3 can be priced well above that because of its image.
now, your a dealer that doesn’t have any 992s to sell, what are you going to do? You don’t have the volume to make $ by selling sub msrp new 992s like you would in a normal world so you get your hands on as many 991s as you can and push the price up.
Notice how there are what feels like a sudden surge in GT3s and RSs on the market? What could be happening here is that people are getting solid offers from dealers, well above what they would have been offered in normal times, and are taking advantage of it.
Additionally, I bet a lot of dealers are dangling a 992 allocation on the condition of an early trade in of your current GT3.
again, all speculation but...
Being a seller of one of these cars (the red one over to the left) I can verify that ^^ is directionally if not completely accurate.....my dealer is on the phone with his customers trying to get cars to sell because he can’t get them from the factory....in my case there was no quid pro quo on allocation but there easily could have been...the discussion on allocation predated the discussion on taking my GT3 to market...these are crazy times indeed....
1. 992 supply is lower than normal due to Covid driven reasons - chips etc...
2. 911 demand in general is up due to people having extra money & time
3. buyers can’t get immediate satisfaction with a 992 purchase so they have to look at used, previous generations.
.
My personal speculation is a function of all the above, but with an added element of the dealers and brokers initially driving up the second-hand market just so they can have any activity at all. Can't really have much of a business if there are no widgets to sell. Short answer is supply, but with an added element.
Anecdotally, I would like to think it may have started with a consignment sale of a niche product, like a PTS touring or something of the like. They didn't have to buy it into inventory, but slapped a high asking number to see what would happen and then a domino effect followed. Other brokers followed suit and eventually dealers get into the mix by getting transactions now in promise of future units. This eventually trickled down to private party transactions and other trims.
While not a GT car, I saw it first hand yesterday with a buddy selling a Civic Type R. Posted online and within minutes, an actual Honda Dealer an hour away contacted him and immediately sent a flatbed out to fetch it - no fuss on his high'ish asking price, didn't matter. They need inventory.
My personal speculation is a function of all the above, but with an added element of the dealers and brokers initially driving up the second-hand market just so they can have any activity at all. Can't really have much of a business if there are no widgets to sell. Short answer is supply, but with an added element.
Anecdotally, I would like to think it may have started with a consignment sale of a niche product, like a PTS touring or something of the like. They didn't have to buy it into inventory, but slapped a high asking number to see what would happen and then a domino effect followed. Other brokers followed suit and eventually dealers get into the mix by getting transactions now in promise of future units. This eventually trickled down to private party transactions and other trims.
While not a GT car, I saw it first hand yesterday with a buddy selling a Civic Type R. Posted online and within minutes, an actual Honda Dealer an hour away contacted him and immediately sent a flatbed out to fetch it - no fuss on his high'ish asking price, didn't matter. They need inventory.
Yup. Dealers / brokers are eating up all inventory and pushing the prices.
04-30-2021, 12:39 PM
