sccchiii

I just went back to manheim site and they are all gone, not uncommon because of closed sale. Someone else hopefully pulled the info before they pulled off vins and transaction prices?

GreenLantern

I'd sell mine to any franchised dealership willing to pay $279k.

irish guitar

Thanks. I have the VINs and the build sheets etc. But curious to see what they actually went for to compare.

I know that there's nothing 'wrong' with these cars, but with branded title and 4 year warranty, it's difficult to understand the value in them if they're going to sell at MSRP - especially when there are '15 models to be had at sticker.

Vivian.

ipse dixit

Not in 6 months or so, if the rumors or "reports" of the GT3 production ending in December are true.

Z356

I followed this auction 'saga' on Manheim, since I have access to their website. I also contacted this morning two Porsche dealers I know to see if they were planning to bid on the gt3's at the auction. Both said yes! I asked them to give me a report at the end of the day & they both graciously agreed to do so. And they followed up on their promise, for which I am most grateful!

One dealer bid on three gt3's and failed to get any! They all went for higher amounts than that particular dealership thought it was worth it for them to make the purchase. Read the above text carefully...I worked at the wording carefully to make sure it conveys the proper context! The other dealer bought one of the auctioned gt3's. They paid roughly $700 less than its original MSRP. They will add up the shipping (approx. $1000) from that particular Manheim auction site, plus some auction fees, to evaluate their total investment in the transaction. And then they will immediately put the gt3 for sale and ask around $8K over their cost!

This dealership looks at this as a simple auction transaction...and they are not worried about 'title' issues! In this particular state, the only 'branded' title is salvage. And this, according to the General Manager of this Porsche dealership, will not be a 'salvage title'! As far as this dealership is concerned, this gt3 is one more car to sell into a high demand environment! Period, end of story. And the GM specifically mentioned that he also looks forward to see what kind of 'trade-in' vehicle (hopefully a late Porsche model) they might get from the buyer for this gt3! Don't forget that part in the $ equation! There are a lot of folks with '13 & '14 991S & 4S, some heavily optioned, that are trading them in for the new 991 gt3's! And the dealers are getting these 991's at very 'low' wholesale prices. So, this dealership is planning to make a reasonable profit at both ends...plus financing incentives* if that is required on the sale! All together, a well-thought out plan...if they can get the right buyer for this gt3 bought at auction!

So that is the way just two prosperous & well-managed Porsche dealers saw this auction today. One took a pass. The other made a purchase. Take from it what you will. It's capitalism at work and I am impressed at how well it all went down! It bodes well for resale values of the .1 991 gt3, that can't be denied.

Saludos,
Eduardo
Carmel

*from lenders & leasing companies, including Porsche Financial Services.

GreenLantern

Excellent report and details, Eduardo.

Thank you, as always!

usctrojanGT3

The question is what are 997 GT3 RSs going for at these auctions....

rockitman

Yes, very informative and well thought out.

MarcusG

Why the big deal?

Any Porsche store with a new GT3 in the middle of the showroom whatever the title says is a good thing for that particular dealer. Regardless of the shifty title moniker.

I bet most of the winning dealers are in the California area. Like Eduardo said they have to ship the cars and most dealers after all kinds of "costs" don't make a lot of money on the cars at all.

As for buyers of 991 GT3's not knowing about the stop sale, they don't exist. Every single guy I've ever talked to, Porschephile or not knows everything about these cars and everything going on about them. Even a guy at a bodyshop I know I saw at my favorite lunch spot asked me if I was going to bid on one of the lemons today. Not knowing of course that only dealers could bid.

They will sell and will sell for over MSRP I'm sure of it. If a guy doesn't want to wait and there'e one on the floor in front of him, it's sold. It's that simple. Case in point a dealer I know had a engine replaced car on the showroom and wanted $15k over. I said nah, I'll wait and get an allocation at MSRP simply because I'm a guy that wont be too picky about options. Mostly just the color I want. Then, that same dealer received another car from the port with a new engine and were asking $20k over asking because "Why not?" Sure enough, that car is sold as well.

There you have it. Supply and demand. If you can finance it and it has an extended warranty no one is going to care. Especially if you can afford it.

Case in point.


At the gas station in anytown USA.

"Hey there." "That's a sweet GT3 you got there." "Hey thanks, I just picked it up." "Hey, is that one of those lemon cars?" "Yea, it was a buy back so you could call it that if you want to but all it means is if the manufacturer buys it back from the customer for any reason the title will say that but why does it matter?" "There's nothing wrong or different with it compared to the other guys 2015 car except I got a better warranty." "See you at the track."

The guy pulls out of the gas station and in manual of course pull a 9k rpm shift with a huge "WOMP" from the exhaust as the guy asking the questions wipes the drool off his face and says "Holy crap that car is awesome." "I want one!"

Cheers boys.

mooty

thank you, eduardo, as always informative.

i am auctioning off my 2015 ;-)

CAlexio

Eduardo comes through again... Interesting on the title portion... But almost more interesting that one year old cars are going for basically msrp. Definitely makes one feel comfortable

silverrules

They will be all sold by end of this weekend.

CAlexio

http://m.ebay.com/itm?itemId=321531707231

Is this one of them? I wrote asking for options and any title branding

sgroer

I don't think so. Hard to imagine it got from atl to Tampa and into a showroom that quickly.

promocop

How would he have gotten the car on his showroom so quickly? Doubt it. Well we will see who actually buys one of these cars and for how much. As we all know (those of us in CA) there are 15's to be had at MSRP all day long in SoCal. Its been a fun time reading all this drama...time to drive!