sccchiii

Still, it would've been a truer test of values if it was an open wholesale auction, not a closed private / Porsche-dealer-only auction.[/QUOTE]

Yes it would have been truer test but I'm glad that Porsche dealers are selling them and I hope they go to good homes and they end up being enjoyed being used.

GreenLantern

Clocked

Regarding the Vin numbers for these cars. Someone already found 2 of the 20 at Henessy.

Just look over the next several days in the porsche website for used 2014's gt3's with build dates in 2013. My guess, most if not all of the 20 will appear by weeks end. Hennessy's are already listed with vin numbers.

Lodi

They were branded. I have a very reliable source! When a manufacturer buys a car back from a consumer it must be branded as a lemon. Typically, this means that the manufacturer could not fix a repeated problem with the vehicle in a timeframe perscribed by the state lemon law. A lot of times an arbitrator is involved because it can be a difficult process for all. It may seem a little unfair that theses cars had to be branded as lemons but that is the only bucket they fit in. In addition, the dealer must disclose that the titles are branded when they sell the car. Washing the title is nonsense.

Regarding value, I don't think what happened is that out of whack at all. This is a very small pool of high demand/low availability vehicles. Everyone is making way too big of a deal about the titles. With all of the information and documentation available about the engine swap I just don't think the branded titles are a cause for concern. If you came across a branded title and didn't know any details then its a concern. One of the most important points is that the dealers at today's sales are out of 14/15 GT3s. So, while there may still be a few floating around for us consumers to grab, dealers are out! My guess is that most of these guys are going to add $10K to what they paid and sell every last one of these cars. Some will add more because they can. Hence, this is not as crazy as some are treating it, but I will agree that its a great first step in the value equation for those of us who paid MSRP. If you got compensation have to be feeling great! My .02!

Maverick787

Well said Lodi!

Mike in CA

A good analysis. It's for certain that this event can only be seen as a positive for those with cars in the garage or on order. The concerns over massive devaluation of the 2014's sure seem overblown for now.

sccchiii

There is nothing we are missing, there was a disclosure letter written by PCNA and a verbal announcement was made before auction began. You must remember that a lot of Porsche dealers got very few allocations of GT3s...a lot of reference is made of all the allocations to bigger volume stores but there were a handful of dealers that got 2-4 TOTAL (2014 and 2015)! Think about the possible number of inquires and many months of stop sale...what this tells me is there is still very healthy demand for this car and the prices tell the story despite the fact that many here would not pay the potential price on a car that has buyback title.

rwcsn1

This makes no sense to me. Reminds me of the auctions on Ebay where people pay higher prices for things you can get at Amazon or the local store for less. There are plenty of allocations even in california. I just received an email from Carlsen, and there are at least 3 dealers in LA with allocations, I certainly still get emails from people asking.

promocop

Well stated. And IF these cars are all sold here what happens in two three years when they get sold? What person in their right mind is going to buy a "branded" car when there might be many unbranded ones for sale. I say good luck to those who are trying to sell one of those. I for one may buy a used 2015 in a few years but I most certainly NOT buy one of these auction cars. No sir!

promocop

And one more thing about dealer allocations. What dealers had the cash to buy? My guess not the small ones. The big dog dealers with deep pockets? Anyone know?

GreenLantern

Yeah, these cater to the folks who absolutely must have a 991 GT3 right now.

<3mph

Unfortunately, there is not perfect information in the marketplace to allow consumers to make perfectly informed choices, despite forums like this one. Some buyers may know no better regarding price, other available cars, or the implications of the title. Others simply won't care about these issues. There are also buyers who will not wish to buy from a non-local dealer and will not shop around. I suspect there will be sufficient buyers who will pay over MSRP to acquire one of these cars who do not have (or do not choose to) access to another option. I'd imagine the dealers sell every one of these for a profit.

sccchiii

If you are a Porsche franchised dealership you would have a healthy credit line to purchase...part of new car franchise agreement is you must have a certain amount of capital available at all times in reserve and if you go below a threshold you are sent a not very nice letter to correct it. They do not want to partner with a dealer who's checks can't be written or bounce (think about payroll) and no I'm not a Porsche dealer...wish I was I would have gotten one for invoice ha ha

rwcsn1

I'm just glad we have another thread for discussion instead of the nonsense thread about disappointment from a half cocked short test drive lol.

carcommander

I have no idea what the working capital is for a Porsche store but a couple of GT3's wouldn't move the needle.