NB Prices are Bananas
02-22-2022, 03:49 PM
#31
Rennlist Member
I posted this in the other thread as well, but there is a 95' Aventurine Green C4 going for $79k at Jordan Motorcars in San Antonio. I had a deposit on the car and a PPI done, but I am not going to purchase the car, so hopefully another Rennlister may benefit.
The car is incredibly clean (PM me for a video made by the mechanic who did the PPI). In short, the clutch, engine, and steering rack have all been rebuilt or replaced within the last 3 years or 5k miles. New tires all around. Clean CarFax. They have the car's service history going back to 2004, the records are thorough, and demonstrate it was well maintained by a knowledgable shop. Best of all, the car was driven by an older lady until last year when she sold it at 83 years old. Why am I not buying this? We just bought a house, so I had to find another (cheaper) project. :'''(
If you see this and get the car, please ask for Larry Bertram. He was the salesman who helped me out on this and I would only kindly ask you to direct your business to him bc he was incredibly helpful and I hope he still gets the sale after I had to pass. May the quickest draw win!
https://www.jordanmotorcars.com/used...AA2999SS323338
The car is incredibly clean (PM me for a video made by the mechanic who did the PPI). In short, the clutch, engine, and steering rack have all been rebuilt or replaced within the last 3 years or 5k miles. New tires all around. Clean CarFax. They have the car's service history going back to 2004, the records are thorough, and demonstrate it was well maintained by a knowledgable shop. Best of all, the car was driven by an older lady until last year when she sold it at 83 years old. Why am I not buying this? We just bought a house, so I had to find another (cheaper) project. :'''(
If you see this and get the car, please ask for Larry Bertram. He was the salesman who helped me out on this and I would only kindly ask you to direct your business to him bc he was incredibly helpful and I hope he still gets the sale after I had to pass. May the quickest draw win!
https://www.jordanmotorcars.com/used...AA2999SS323338
Last edited by Kyzcreig; 02-22-2022 at 04:03 PM.
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c2_peter (02-22-2022)
02-22-2022, 05:35 PM
#32
02-23-2022, 11:03 AM
#33
Rennlist Member
It’s really interesting how the 993NB market has progressed in the last year.
background: I purchased a 997.2 TTS in the depths of the pandemic in April 2020, mostly because I thought the 997s were ignored even as 993/964s on one end and 991.2 (esp GT3s) on the other end were going up in value.
Today, the prices on the 997 .1 and .2 GT3s have blown past even 991s in many cases, and the values on the .2 997 cars are up probably 20-25%, as the 997s are the middle ground between the “large” 991s vs. the much smaller 993s.
Then, I also thought about buying a 993 NB coupe but decided I’d dip a toe in the water and acquired a 993 NB cab for less instead. (I’m a value buyer as you can see - lol).
So, yes the 993 WB values are insane - these are now collector, non-driver cars given the 130-175k+ price points.
I don’t know the 993 NBs will get that high in the short to medium term, but the price discrepancy between the NB and WB is too high, IMHO. That gap will narrow - either NB goes up, WB comes down, or both.
If you own a 993NB coupe, I think only a matter of time (3-5 years??) before they hit the $100k price point or more.
Think about it - Manual, air-cooled, ICE in 5 years - just as the Gen X/Y/Z 90s and 2000s kids start making serious coin in their careers and everything is going to EV. It’s the perfect storm.
You’ve seen this happen before with 80s era Rolexes, 80s era Ferraris, and on and on.
And I need to teach my 3 and 7 year olds to drive a manual - how else am I going to do that??
background: I purchased a 997.2 TTS in the depths of the pandemic in April 2020, mostly because I thought the 997s were ignored even as 993/964s on one end and 991.2 (esp GT3s) on the other end were going up in value.
Today, the prices on the 997 .1 and .2 GT3s have blown past even 991s in many cases, and the values on the .2 997 cars are up probably 20-25%, as the 997s are the middle ground between the “large” 991s vs. the much smaller 993s.
Then, I also thought about buying a 993 NB coupe but decided I’d dip a toe in the water and acquired a 993 NB cab for less instead. (I’m a value buyer as you can see - lol).
So, yes the 993 WB values are insane - these are now collector, non-driver cars given the 130-175k+ price points.
I don’t know the 993 NBs will get that high in the short to medium term, but the price discrepancy between the NB and WB is too high, IMHO. That gap will narrow - either NB goes up, WB comes down, or both.
If you own a 993NB coupe, I think only a matter of time (3-5 years??) before they hit the $100k price point or more.
Think about it - Manual, air-cooled, ICE in 5 years - just as the Gen X/Y/Z 90s and 2000s kids start making serious coin in their careers and everything is going to EV. It’s the perfect storm.
You’ve seen this happen before with 80s era Rolexes, 80s era Ferraris, and on and on.
And I need to teach my 3 and 7 year olds to drive a manual - how else am I going to do that??
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02-23-2022, 11:12 AM
#34
Solid 993 NB examples are 6 figures already and Patek prices make 993s look very cheap.
https://bringatrailer.com/listing/19...11-carrera-76/
https://bringatrailer.com/listing/19...11-carrera-76/
Last edited by toona; 02-23-2022 at 11:14 AM.
02-23-2022, 11:30 AM
#35
The gen Y who were teens when the 993 was produced are now in the age bracket where they have good careers so I agree they will want to buy their 993 poster cars.
And for those who are waiting for their kids to be sent to college by the end of this decade, they can really start to put all the money in buying their teenage dreams cars from 2030 onwards.
02-23-2022, 10:22 PM
#37
Rennlist Member
That's the rub! I love driving all my P-cars for sure, but I also know a lot of owners who are looking at the market values of their 964/993/997s skyrocket and realizing their current agreed-upon insurance values are nowhere close to the market value. What happens if someone totals your $130k 993 and your insurance company still thinks it's worth only $80k?
Not an excuse not to drive, but it's a big issue certainly.
Not an excuse not to drive, but it's a big issue certainly.
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Carolinacar (09-26-2022)
02-23-2022, 10:27 PM
#38
Rennlist Member
That's the rub! I love driving all my P-cars for sure, but I also know a lot of owners who are looking at the market values of their 964/993/997s skyrocket and realizing their current agreed-upon insurance values are nowhere close to the market value. What happens if someone totals your $130k 993 and your insurance company still thinks it's worth only $80k?
Not an excuse not to drive, but it's a big issue certainly.
Not an excuse not to drive, but it's a big issue certainly.
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RockstarBruski (06-12-2022)
02-23-2022, 11:13 PM
#40
Rennlist Member
We upped our agreed value 8 mo ago and now it seems low at $75k. Guess we’ll be making that call again…
02-24-2022, 10:45 AM
#41
I have foolishly never had an agreed upon value on mine. I probably need to consider it at this point. The cost to reproduce my car is pretty high, given all the modifications. But have no idea what it would be worth on the market, less than the cost to reproduce I assume. What are people doing with heavily modified cars? An estimated cost to reproduce their modified car or the replacement cost (similar miles, condition, etc.)?
02-24-2022, 11:38 AM
#42
Rennlist Member
02-24-2022, 01:33 PM
#43
Rennlist Member
Many insurance companies don't like mods or mod coverage - hard to value, no OEM replacement, hard to estimate cost to repair etc. You can try to get a "stated value" policy instead that reflects cost of the mods, but not all carriers agree to do that. To get stated policy, you need to show recent comps and sales data justifying why your car is worth $X today - and sometimes even that isn't enough because they're clueless!
02-24-2022, 06:15 PM
#44
If you don't drive these cars, what's really the point?
I have a friend who owns about 50 C1 and C2 Corvettes. He trailers them to shows, gets awards, and keeps them in a fancy garage much nicer than a lot of homes. At the shows, he frets and argues with his NCRS colleagues - which he enjoys. He spends a lot of time traveling and racking up certificates like Top Flight etc. That's his enjoyment.
Even though he has enclosed parking at his place of business, he drives a 10 year old Honda element 99% of the time.
To each his own.
Some 993 owners like to drive and other don't.
Some people like to count and stack money. Others like to spend.
I have a friend who owns about 50 C1 and C2 Corvettes. He trailers them to shows, gets awards, and keeps them in a fancy garage much nicer than a lot of homes. At the shows, he frets and argues with his NCRS colleagues - which he enjoys. He spends a lot of time traveling and racking up certificates like Top Flight etc. That's his enjoyment.
Even though he has enclosed parking at his place of business, he drives a 10 year old Honda element 99% of the time.
To each his own.
Some 993 owners like to drive and other don't.
Some people like to count and stack money. Others like to spend.
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Carolinacar (09-26-2022)
02-24-2022, 08:21 PM
#45
Rennlist Member
Careful there. There is a huge difference in agreed value and stated value policies. I think you are referring to an agreed value policy that covers mods.
Agreed value payout can be more or less than actual cash value (ACV is basically what the insurance company decides the car is worth).
Stated value is useful when a driver wants to take on some of the risk to avoid a higher premium. Typically stated value is *lower* than actual cash value, and the insurance policy pays either stated value or actual cash value, whichever is less.