wayne325

Do tell...

David Ray

You guys are worried about the value of a 993. Do you have any idea of what you can get a "decent' home in SoCal for these days? About 35 "excellent" 993s (that's 5 (993s) less than last year). Cars depreciate - that's why they're are the worst investment ever. Why do you think our old 993's should be appreciating?

Enjoy the one's "we" got a bitch'n deal on....if you have 35K laying around buy a rental in OH, NC or VA (you'll do much better) and you'll be able to buy a 993 later for that much less and still have a gain on your 35K.

jimbo3

David, this thread isn't about 993's-or any car- as an appreciating financial investment and no one has suggested that these cars are supposed to appreciate in value. The point of this thread is that the going price of a 993 is higher (in some cases, much higher) than the prices indicated in the recent Excellence article.

But, to the point that you've created, I'm guessing that most here have already acheived enough to afford to throw away some play money on these kinds of toys. I strongly doubt that anyone here considers their 993 to be part of an investment portfolio- that would be crazy.

Then again, you did mention that SoCal real estate lost 12% last year. You would have done better financially buying 40 993's last year!

-Jim

pcar964

Really? I guess we should call up Barret-Jackson before they sell any more Hemi Cudas for $400k, obviously they've been misinformed

jimbo3

Few and far between, Pcar. If cars are the solid investment you say they are, which do you recommend I buy today that will at least double my money in under ten years, after all expenses? (That's roughly a 7% rate compounded, for the financially challenged.)

I'll split any gains with you if you agree to cover any loss. I'm just messing with you, but I would make the deal with you. I'd love to drive a car on your dime for 10 years...

-Jim

Bull

While the actual price paid is the business of the buyer, I will say that the first number was not a 3..or a 4....or a 6...or higher higher than 6 or lower than 3.

Bull

BTDT, and still doing that.

Who said anything about 993s "appreciating"????? They are part of the disposable toy collection, not the portfolio.

And I have made money on Porsches, but none have been less than 35 years old. The last was a fully restored, Parade winning '61 Roadster (resto and win by PO), which sold for 17% more than I paid 3 years after I bought it....just before being shipped to Barrett-Jackson. Sometimes I get lucky, but not often.

tj90

12% loss?! Is that right. Here in the "low rent" district of O-side, we lost ~6% last year. The times are achanging however. THe first "bank owned" for sale sign went up in my neighboorhood last night. Uh-Oh!

pcar964

Collector's car market is very finnicky. One year the Hemi Cudas are the car to have, then suddenly there's a Corvette craze and the collectors dump their Cudas. It's fun to watch on Barrett-Jackson, but I would never play that game with my money

I don't ever think of a Pcar as an investment. But if you want a car that will hold value and probably creep up in value over the long term, a 993 is a pretty good choice. I'm not saying anyone will be making any money here. In fact, factor in maintenance if you drive the car, and you'll still lose money in real terms. But resale will remain strong imho.

amfp

Agree. Guess they have different definition of "excellent".

Bull

People are swooning in my Township because values only went up 6% this year. Shows you how easily people can begin to feel "entitled" to 25+% each year.

jimbo3

No worries, Bob. Your local tax man will assure everyone that their property is worth 25% more...

BrokenE

OK, this thread is about whether the valuations in Excellence are correct or not right? So back to that: I'm sure Excellence bases their numbers on actual data, however, I would like to see where these cars are being bought and sold. Because if you look at the classifieds here, or Holt, or RPM, those prices are way above. Yet maybe that's what we here get used to seeing. Keep in mind that the cars here, Holt and RPM are top of excellent condition, plus a lot of them have mods. So we see top of the line cars with top of the line pricing. In comparison, the cars taht excellence is reporting on are probably just average condition, with "excellent" pricing probably being an estimated adder.

Bull

Fortunately, we aren't revalued/reassesed every year, and as long as we don't vote in a budget increase ("usually" smarter than that!), and the rising tide lifts all ships, who cares what the value is?

Bull

Great in theory, but the sell sheets from the Regional Hi-Line auction in this area show the 993s going across the block for far more money than Excellence reports. I would suggest that their values are NOT based on actual, current data.