Originally Posted by rosenbergendo

Gotta be more to this story. I was offered one of these cars at under sticker. There must be a backend or huge incentives not included in the sale price for these to have sold for those numbers!!

Originally Posted by -eztrader-

The vin numbers should be posted as a sticky somewhere to protect RL members down the road.

Originally Posted by rosenbergendo

Gotta be more to this story. I was offered one of these cars at under sticker. There must be a backend or huge incentives not included in the sale price for these to have sold for those numbers!!

Originally Posted by rosenbergendo

Gotta be more to this story. I was offered one of these cars at under sticker. There must be a backend or huge incentives not included in the sale price for these to have sold for those numbers!!

Originally Posted by rosenbergendo

Gotta be more to this story. I was offered one of these cars at under sticker. There must be a backend or huge incentives not included in the sale price for these to have sold for those numbers!!

Originally Posted by neanicu

Correct,huuuge incentives!!!

Some people might get confused between MSRP and Invoice. A friend of mine that used to work for a dealer explained to me how the process works. He even risked getting fired to show me in the computer system how the pricing is set up. The difference between MSRP and Invoice can be in a few thousand range to a lot more depending on model,options and manufacturer incentives. Although one might think Invoice is the price the dealer bought the car for,it is actually incorrect. The dealer buys the car below Invoice but a sales associate has no way of seeing the actual buying price,it is password protected in the system and only a manager higher up can see it.
So,if you think there's not enough " play room " in the price,think again!
All I'm saying is,even though a dealer bought a branded title GT3 at MSRP in this auction,he might be receiving a 20K incentive(just an example) back from PCNA or other benefits.

Originally Posted by sccchiii

These cars were sold as used cars, new car holdbacks and other new car profits would not apply to these in this auction sale

Originally Posted by 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.

Originally Posted by neanicu

That's what you think and what makes sense,but do you have any way of knowing for sure PCNA did not work some kind of a backdoor deal with the buying dealers?

Originally Posted by jlanka

And no black at all. I guess thats not as popular as black on a Carrera

Originally Posted by mrsullivan

these nuance details/differences are lost on the average buyer, and especially 2nd buyers a few years from now... I just think some of us are shocked that these cars brought MSRP or higher, and that's not really a judgment about anything one way or the other, except that it was surprising... the market is what the market is, always... my personal opinion though, is that whoever tries to sell these cars later will definitely take a hit and have to explain a lot of details because there are plenty non lemon GT3s out there... remember, Rennlist is an overly informed cohort compared to public....

Originally Posted by Mike in CA

Thanks for the context, Eduardo. Despite some of the comments about the impossibility of clearing a branded title, what you have described seems very close to what my source told me originally about the title being "laundered". My choice of wording may have given the wrong impression but the end result seems to have been exactly the same based on the example you cited; the cars will carry no stigma. at least not on the title.

Originally Posted by Mike in CA

I respectfully disagree. As has been pointed out the issues around the 991 GT3 have been well documented and fully explained. There's no mystery or uncertainty left, and it's uncertainty that drives up concern and drives down valuation.

The market for this car is proving far more resilient than anyone thought and everyone who has predicted doom and gloom so far has been proven wrong. I think there's a lesson there for the future as well. My $.02.