Does High Miles kill value?
#17
Rennlist Member
I kinda glanced through this, but I don't think anyone commented on who made that observation--the Mrs. Karen was the same way when we first met, and a year later just before we got married and actually on the weekend she moved into my house, we bought a '92 C4 w/ 90K. You would have thought the thing should just be abandoned at the side of the road once it hit 100K, given her naive view of "how cars work". All I can say is: advertising. Over the years we've educated her.........
Anyway, Pong's car exists in a different universe, we know that. That said, if it was started in 1995 and driven those 120K miles without as much as an oil change, sure the value would suffer greatly. BUT, there would still be someone (or 20) who would weigh it all out and figure out what market value is.
Ah, that pesky "market value". I dropped $40K (with mega spares) for a '95 coupe with 124K miles in very average cosmetic shape six months ago. Am I f_____ nuts? Maybe, maybe not. You guys all know the car. I drove it home "for the winter" yesterday, and only the fourth or fifth time on the street. Man, this thing is like a racehorse, just being held back on 25 miles of freeway driving to get home. So even with all the miles, it's entirely reconstructed and makes absolutely no difference that the chassis didn't start out as a body in white when Kim started the project 4-5 years ago.
Contrast that to the C4S and its soon-to-be 115K miles in "as delievered" condition. If I could hop into one of the Victory Motorcars 863 original milers for my run out to the shop tomorrow in the early AM, would I notice something more............profound? I guess. But does it matter? What's my car worth in today's market? It had the top end done at 75K. Aerokit, etc., stickered for $92K. $35K or a bit less I'd guess if I needed to unload it. (And by unload I mean sell within a month.) I've got a line on a decent 993 turbo for under $50K, but even at $20K out of pocket........I need 120 more hp to drive up and down the freeway?
To wrap up my rambling, as these cars go past that magic 100K (70-80K in my book because you do need to think valve guides starting there), it's all about verifying the maintenance and repairs, right? There are plenty of the pedestrian 993's around, and there aren't that many buyers.
Anyway, Pong's car exists in a different universe, we know that. That said, if it was started in 1995 and driven those 120K miles without as much as an oil change, sure the value would suffer greatly. BUT, there would still be someone (or 20) who would weigh it all out and figure out what market value is.
Ah, that pesky "market value". I dropped $40K (with mega spares) for a '95 coupe with 124K miles in very average cosmetic shape six months ago. Am I f_____ nuts? Maybe, maybe not. You guys all know the car. I drove it home "for the winter" yesterday, and only the fourth or fifth time on the street. Man, this thing is like a racehorse, just being held back on 25 miles of freeway driving to get home. So even with all the miles, it's entirely reconstructed and makes absolutely no difference that the chassis didn't start out as a body in white when Kim started the project 4-5 years ago.
Contrast that to the C4S and its soon-to-be 115K miles in "as delievered" condition. If I could hop into one of the Victory Motorcars 863 original milers for my run out to the shop tomorrow in the early AM, would I notice something more............profound? I guess. But does it matter? What's my car worth in today's market? It had the top end done at 75K. Aerokit, etc., stickered for $92K. $35K or a bit less I'd guess if I needed to unload it. (And by unload I mean sell within a month.) I've got a line on a decent 993 turbo for under $50K, but even at $20K out of pocket........I need 120 more hp to drive up and down the freeway?
To wrap up my rambling, as these cars go past that magic 100K (70-80K in my book because you do need to think valve guides starting there), it's all about verifying the maintenance and repairs, right? There are plenty of the pedestrian 993's around, and there aren't that many buyers.
#18
Burning Brakes
Join Date: Jun 2001
Location: A small horse farm in VA
Posts: 975
Likes: 0
Received 0 Likes
on
0 Posts
Mark
The Ruf in Dallas has a US VIN.....If I recall correctly, Pong's Ruf was imported from Germany...I've never seen his VIN...so I don't know if it was a Euro-conversion or if it is was bought in the 'White" by Ruf and issued a Ruf VIN when new......
Regardless of the miles, a Ruf has incremental value over a NA 993 and the acid test is the mechanical condition of the car.....I remember Pong went thru a long "renewal phase" at considerable expense......keeping the car current dilutes the dollar diminishment associated with high miles......
Regardless of the miles, a Ruf has incremental value over a NA 993 and the acid test is the mechanical condition of the car.....I remember Pong went thru a long "renewal phase" at considerable expense......keeping the car current dilutes the dollar diminishment associated with high miles......
Last edited by Berkley; 10-29-2007 at 11:14 PM.
#20
Race Director
Thread Starter
Berkley,
My car is a Porsche VIN. It was actually a November 1994 built date. Ruf did not have a BTR package then. So no, mine is not a Ruf VIN pedigree.
Between ViperBob, Devek, and others, I absolutely urgraded my BTR to pristine condition, and it drives like a charm. I am no judge of fine cars, but I have quite a few pro and semi-pro drivers drive my Ruf, including on the tracks at Thunderhill and Infenion, and they all gave the car a big thumbs up. Unless they were all polite and want to keep my spirits up, it is a great car in pristine conditions.
CP
My car is a Porsche VIN. It was actually a November 1994 built date. Ruf did not have a BTR package then. So no, mine is not a Ruf VIN pedigree.
Between ViperBob, Devek, and others, I absolutely urgraded my BTR to pristine condition, and it drives like a charm. I am no judge of fine cars, but I have quite a few pro and semi-pro drivers drive my Ruf, including on the tracks at Thunderhill and Infenion, and they all gave the car a big thumbs up. Unless they were all polite and want to keep my spirits up, it is a great car in pristine conditions.
CP
#22
Race Car
Usually it goes like this. If you have a high mileage car, then you're view is that it doesn't hurt value. If you have a low mileage car, then your view is that high mileage does hurt value.
#23
Rennlist Member
Now what if I say it's a 73S. Think that car has gone down in value since I sold it in '01?
993's aren't there yet, but when they ARE 25+ years old the difference between "the car has actually been driven" and "the car was used daily for a quarter century" miles won't impact value that much if you can document repairs and maintenance.
#24
Rennlist Member
Sorry, Ken, does not compute. In your example with the '73 911S, you are comparing the passage of time versus the topic of this thread, which is the passage of miles. Are you telling me that, given two '73 911S' that are equipped 100% the same, that the one with 20,000 miles (for the sake of debate, I'll give you 40,000 miles and make it 60,000 miles) is worth the same as the one with 120,000 miles?? No way.
#25
But that's not the question. Of course a '73S has appreciated. But an identical '73S with lower mileage has appreciated more. So again, my point stands.
#26
Three Wheelin'
Join Date: Apr 2006
Location: bay area ca.
Posts: 1,733
Likes: 0
Received 0 Likes
on
0 Posts
the biggest factor in pricing a used car is based on miles, service history and accidents. As long as its priced fair there will always be a buyer. Your car may be high miles but it sure is a gem.
#27
Race Car
Join Date: Jul 2005
Location: San Jose Kalifornia Demokratische Republik
Posts: 3,916
Likes: 0
Received 1 Like
on
1 Post
I owned a car which, when new, was rubbish 'by design', '75 MGB (CA emissions). When I sold it with 150+K on the clock it was still a solid, reliable car (was my daily commuter in San Jose). 120K on a 993 is not a lot of miles to me. The age becomes more of a factor as the rubber and plastic bits start to dry out.
#28
My 993's got around 100K now, and it's valuable to me. But we've got to be realistic - High miles kill value, and low miles kill the fun of ownership. A (stock-ish) '95 993 with 124K is not worth 40K, period. But I'm sure it's a lot of fun, and there's nothing wrong with that.
Life's full of tradeoffs - pick yours.
#29
Rennlist Member
Yes, you are....
My 993's got around 100K now, and it's valuable to me. But we've got to be realistic - High miles kill value, and low miles kill the fun of ownership. A (stock-ish) 993 with 124K is not worth 40K, period. But I'm sure it's a lot of fun, and there's nothing wrong with that.
Life's full of tradeoffs - pick yours.
My 993's got around 100K now, and it's valuable to me. But we've got to be realistic - High miles kill value, and low miles kill the fun of ownership. A (stock-ish) 993 with 124K is not worth 40K, period. But I'm sure it's a lot of fun, and there's nothing wrong with that.
Life's full of tradeoffs - pick yours.
#30
Rennlist Member
If this is Kim Ouye's, it might be perhaps a little more objective to note that, in addition to it being a '95 coupe with 124K miles in very average cosmetic shape, that it also had, the last I heard of it, a 3.8 motor, GT2 front spoiler, 3.8 RS rear wing, Moton clubsports and just about every imaginable track goodie in it, except for a short gearbox (maybe it had this, can't recall), onboard fire suppression system and a full cage.
By using Kim's car as a high mileage comp that is worth $40,000, you are trying to bolster your argument that mileage still brings in the moola without also stating that it was loaded with extras, which, with all due respect, is simply not a fair comparson. Again.
<edit> Even better. It has a re-geared tranny and an LSD.