acwild70

With the shutdown and the economy being what it is I’ve been monitoring the 991.1 market. I have a C2S Coupe Manual

From what I have seen it seems like the going rates have pretty much held.

Am I wrong? What are you guys seeing?

flgfish

I haven't seen asking prices move much. I haven't the foggiest clue what things are selling for.

rezok

Pretty stable down under too. Cars are selling, albeit slowly.

snake eyes

check auction prices.... now is not the time to sell if you can hang on to it..
bumpy ride.

RSBro

Yes, not much play.

I was trying to work a deal with a 2014 C2S in Dallas a few mos. back, they wanted like $67k for it with I want to say 45-50k miles on it. Wasn't in good enough shape and CarFax was all messy for their price, but saw it sold for $65k-ish soon after. Glad I had a PPI done!

I just bought a 52k mile 2013 C2 in immaculate condition with an $111k original MSRP for $53k even. Bought it sight unseen so I initially thought I was paying too much, but the car is in better shape than described, so I'm okay with it. I'll maybe put 25k miles on it the next 5 years, so should hold it's value okay.

Was hoping to score a C2S for a deal but stuff isn't budging price-wise much and is still moving, at least in my limited experience.

rugu6869

Prices do seem to be dropping here and there. For the most part, it seems that the prices are being dropped slowly (I've been watching the market for a while now as I've been looking for a C2 manual for quite a few months).
There are some definite deals out there as well for those that seem to be more realistic about pricing and want to actually move the car. I still see cars listed for the same price as they were 3 or 4 months ago (and they're still listed so not selling).

Pricing varies a ton for 911s as I'm sure you're all aware of. I've seen a manual 2012 S with 28K on it last listed at $63K before it sold. It was a clean car too.
I've also seen a 2017 manual with only 18K miles on it last listed for $68K (and this was before Covid-19 happened).

There are deals out there, but to most peoples point, the prices do seem to be holding for the most part. What's actually moving at that price is a different story.

Here are a few transactions from BAT.
https://bringatrailer.com/listing/2014-porsche-911-55/
https://bringatrailer.com/listing/2012-porsche-911-6/
Higher mileage 991.2S manual for $60K
https://bringatrailer.com/listing/2017-porsche-911-s/
This car bid to only $52K and was a no sale. It's listed on eBay for $63K. IMHO it's too much in this market.
https://bringatrailer.com/listing/2013-porsche-911-24/

garfunkle

They are depreciating and won't go "up".... if you need to sell then now is better than waiting.

jskenefick

I think that there are deals to be had, but I always think that is the case. Presently, you have another card to play, as it appears that sales are down. Buyers may be cautious due to uncertain times, so a willing purchaser may have an advantage. It's up to ypu to see how that advantage might play out.

I know this, the MBZ dealer keeps contacting me about an early termination on my car, and it is a year out. The Volvo dealer keeps contacting me about trading in the kid's car (my old wagon) and the Lexus shop wants us to trade in my wife's car. So, I read that as showroom traffic being down.
I might be misreading it, but that is how I would approach it.

rugu6869

Correct. Sales are down across the board. Once the Covid-19 is "over" there will be an influx of used cars everywhere. Most people are trying to sit on them right now. Dealers have leases ending and taking in the cars and can't move them (no auctions are going right now either).

It's VERY good to be a buyer in this market. Not so much a seller.

Falcondrivr

This article sums it up pretty well:
https://www.forbes.com/sites/maryann.../#37fef8da2a16

Franz Hayek

When you say..... "I'll maybe put 25k miles on it the next 5 years, so should hold it's value okay." What do you consider to be a good value in 5 years? Maybe upper 30's?
FH

shammerman

Not to be opportunistic (I am not in the market), but I would think that the deals are buying from an individual, not from a dealer. There are many stuck with lease or loan payments and no or significantly cut income that will have to unload their cars, very sad situation, but the cold reality for many.

RSBro

I would think mid-upper 30s for sure. 75k-ish miles isn't going to be too much for a fourth owner car like this, someone who also dailies it like I do (commute is 17 mi./day). That's kind of what I see the good-condition, well-specc'd 997.2s go for right now, in that range, the C2/C4 non-S. I think the normal 'range' on a new C2 vs C2S is about $15k, and I usually see more like $9-12k diff on the used market, if the car is about equal. Or at least it was the last 9 mos. or so I was looking...

Kg11

I see the same.

My bookmarked cars aren't selling. Few have dropped in price. I do see more realistic asking prices recently though, indicating that dealers who have recently taken trades are paying much less.

Dealers that are holding their pricing as if it is 2019 are falling for the sunk cost fallacy. Sooner or later, they will have to readjust.

If you are shopping, hold off for a month or 2. Once things open back up, a flood of cars will hit the market, which will really push down prices.

If you really need a car now, make offers. A dealer that is sitting on a car priced at $90k may take an offer for $78k. They have loans to pay each month. I ran a business for many years with high-dollar big ticket items for sale. Sometimes you have to take haircuts on slow-moving inventory; often the key to maximizing profit is to minimize losses and filter out the dogs as much as possible. Everyone has figured out how to make money, but not everyone has figured out how to minimize bad money going out the door

Sitting on slow-moving inventory and hoping the price magically rebounds is a fool's errand.

JCZ5

This makes a lot of sense. I posted on another thread asking what I should expect on a Carrera T in terms of discount. Especially with dealers, I sense a huge marked up, much higher and a $10K reduction may be possible. But your theory of waiting a month or two is a good tip. Identify the cars you want and see the number of price decreases and the magnitude. Use that to your advantage a month from now when you further negotiate.