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Did you miss the part where vast majority of 991.2 GT3 "sales" are just dealer-dealer exchanges over the past year? Not real supply and demand of actual costumers. PNS has a UV 2016 GT3 RS that got all the way down to 189k, then it was listed as "sold" and immediately back on the market at $209k. This is the norm right now with GT3's, actually has been for past year. It's laughable to anyone paying attention.
Got it. Doubt the vast majority claim, but whatever. So, 991.2 GT3 wildly mispriced at 180k. No value there, so what should price be? Pricing in 10-12 months?
Lots of GT3 value doomsayers out there, never see any numbers associated with the opinion
Got it. Doubt the vast majority claim, but whatever. So, 991.2 GT3 wildly mispriced at 180k. No value there, so what should price be? Pricing in 10-12 months?
Lots of GT3 value doomsayers out there, never see any numbers associated with the opinion
This economic recession will be more of a depression IMO. $65 trillion debt bubble bursting. This could easily go back to 2010-2012 pricing. Meaning, double digits below MSRP. I'm old enough to remember brand new 997.2 GT3 RS's sold at a discount and GT2's dropped $50k after driving off the lot. I remember walking through Park Place Porsche in Dallas in 2010 with brand new GT3's sitting unsold. Anyone who doesn't think history repeats itself, or thinks this time it's "different" is just burying their head in the sand.
This economic recession will be more of a depression IMO. $65 trillion debt bubble bursting. This could easily go back to 2010-2012 pricing. Meaning, double digits below MSRP. I'm old enough to remember brand new 997.2 GT3 RS's sold at a discount and GT2's dropped $50k after driving off the lot. I remember walking through Park Place Porsche in Dallas in 2010 with brand new GT3's sitting unsold. Anyone who doesn't think history repeats itself, or thinks this time it's "different" is just burying their head in the sand.
Then you'd advise against buying any high priced auto right now, not just GT3. Your original commentary seemed targeted toward 991.2 GT3 as an unjustifiable bubble. Surely you can identify countless luxury autos set up for a far more precipitous drop than the GT3 at 180k. Arguably, GT3 will withstand better than most.
I don't disagree with some of your macroeconomic sentiments. Things could get very ugly and floors redefined.
Also, A LOT of these 991.2 GT3's on the market have been sitting for over a year. Just moving from dealer to dealer. With price increases!
I've been shopping for quite a bit less than a year, but I've seen cars move between dealers like you noted. A recent example is a '16 GT3 RS at Porsche Jacksonville for $204k. It then showed up at Porsche Oklahoma City where they increased the price to $208k. It's been there a couple weeks now and has since been reduced a few times. Currently at $198k.
I've been shopping for quite a bit less than a year, but I've seen cars move between dealers like you noted. A recent example is a '16 GT3 RS at Porsche Jacksonville for $204k. It then showed up at Porsche Oklahoma City where they increased the price to $208k. It's been there a couple weeks now and has since been reduced a few times. Currently at $198k.
seeing the same for the last 6 months of daily monitoring at least as to .1 RS —I would suggest 80% or the inventory during that period have been horizontal moves (dealer to dealer) with at least an initial price increase at the subsequent stop. I would define that type of pricing as a “bubble” for sure. Sitting patiently as even if it goes nowhere for a year, it’s not like the ones I am looking at are rare. There will always be something for sale. In the interim, I have other toys to play with
This economic recession will be more of a depression IMO. $65 trillion debt bubble bursting. This could easily go back to 2010-2012 pricing. Meaning, double digits below MSRP. I'm old enough to remember brand new 997.2 GT3 RS's sold at a discount and GT2's dropped $50k after driving off the lot. I remember walking through Park Place Porsche in Dallas in 2010 with brand new GT3's sitting unsold. Anyone who doesn't think history repeats itself, or thinks this time it's "different" is just burying their head in the sand.
i'm starting to second guess the timing of my entering the market haha. maybe i'll take your recommendation and sit out till spring and see what happens
i'm starting to second guess the timing of my entering the market haha. maybe i'll take your recommendation and sit out till spring and see what happens
Spring seems to be when prices perk back up every year as driving season starts. Fall and this upcoming Winter may be better options, or Fall 2023/Winter 2024. Of course, no one can predict the future. Never a bad idea to just buy when the time is right for you.
This economic recession will be more of a depression IMO. $65 trillion debt bubble bursting. This could easily go back to 2010-2012 pricing. Meaning, double digits below MSRP. I'm old enough to remember brand new 997.2 GT3 RS's sold at a discount and GT2's dropped $50k after driving off the lot. I remember walking through Park Place Porsche in Dallas in 2010 with brand new GT3's sitting unsold. Anyone who doesn't think history repeats itself, or thinks this time it's "different" is just burying their head in the sand.
This could be the case but personally I still don't worry too much about that as it relates to cars, or let that sap any enjoyment of what is an important life fulfilling hobby of mine
If that situation happens with a 992 GT3 as an example at 250 instead of 300 or 200 instead of 300, or lets even say 175 (south of MSRP) instead of 300 - that would be the least of my worries and not a material loss for me compared to the likely blood bath in my portfolios given what those price hits would probably mean on a macro level
So I'd argue if such a big market correction happens, depression recession whatever you want to call it with the fed, if you feel like you really have to time the market well on this I'd argue you may need to reconsider!
Originally Posted by dinkman
i'm starting to second guess the timing of my entering the market haha. maybe i'll take your recommendation and sit out till spring and see what happens
This could be the case but personally I still don't worry too much about that as it relates to cars, or let that sap any enjoyment of what is an important life fulfilling hobby of mine
If that situation happens with a 992 GT3 as an example at 250 instead of 300 or 200 instead of 300, or lets even say 175 (south of MSRP) instead of 300 - that would be the least of my worries and not a material loss for me compared to the likely blood bath in my portfolios given what those price hits would probably mean on a macro level
So I'd argue if such a big market correction happens, depression recession whatever you want to call it with the fed, if you feel like you really have to time the market well on this I'd argue you may need to reconsider!
08-27-2022, 11:49 AM
