Depreciation on 993's
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Joined: Jun 2001
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Oh what I would give today, had I had the capital to buy up several early 70 S's and RS's, in the early '00's or even earlier.
No one knows what the future will bring, but given the direction and ownership of Porsche, I'm willing to bet all air cooled models will continue to do well.
Just my $.02 worth.
No one knows what the future will bring, but given the direction and ownership of Porsche, I'm willing to bet all air cooled models will continue to do well.
Just my $.02 worth.
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Joined: May 2006
Posts: 4,919
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From: Marietta, Ga
I will be consuming my car completely, and to heck with the depreciation. I imagine taking a late serial number '98 C2S from 57k miles to almost 99k miles in five years is blasphemy to some, but I can't think of any other car I'd rather have sat in for all those miles.
Burning Brakes
Joined: Jan 2005
Posts: 1,037
Likes: 5
From: Southern Maryland
If you want to experience the thrill of free-falling depreciation buy a Bentley convertible. Supply and demand is the only immutable law of economy....mostly. My wedding pictures are very rare and they are worth zero because that is also the demand for them..zero! PI don't kid myself that my 993 is an investment instrument but in a world where Mustangs, of which they made a bazillion, are selling at six times their MSRP and a damn Dodge Dart with a hemi in it goes at auction for north of 150K, to name just two of many market
aberrations I don't understand, who knows?
I tell a story on myself concerning a friend who came to me in the mid sixties and said Bruce Jennings, a famous racer, would sell him his Carrera Speedster with 2 spare four cam motors for $13,500 (not a typo). I pontificated that he would be a fool to make such a purchase...the car was no longer competitive racing, would be useless as a road car, a pita to keep running properly and parts would be difficult to find an expensive to boot.
He wisely ignored my advice, as so many have, and when he sold the car 3 or 4 yrs. ago it would required surgery to remove the smile from his face. He still has one or both of the motors that I think now are each worth more than a cherry 993TT. Sometimes time makes you a genius, I'm still waiting......Cheers.......Chris
aberrations I don't understand, who knows?
I tell a story on myself concerning a friend who came to me in the mid sixties and said Bruce Jennings, a famous racer, would sell him his Carrera Speedster with 2 spare four cam motors for $13,500 (not a typo). I pontificated that he would be a fool to make such a purchase...the car was no longer competitive racing, would be useless as a road car, a pita to keep running properly and parts would be difficult to find an expensive to boot.
He wisely ignored my advice, as so many have, and when he sold the car 3 or 4 yrs. ago it would required surgery to remove the smile from his face. He still has one or both of the motors that I think now are each worth more than a cherry 993TT. Sometimes time makes you a genius, I'm still waiting......Cheers.......Chris
Nordschleife Master
Joined: Oct 2007
Posts: 5,471
Likes: 209
From: Tacoma, WA
That's why I plan on getting a 2010 GT3 in 2015 or so.
35kmi ish. But my car looks like 40kmi car, & has quite a few good upgrades on it, plus the OEM parts. Heated sport seats don't hurt!
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From: USA
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Joined: Jun 2008
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I bought a 95 993 for $50k in HK in 98, drove it regularly, and sold it for $50k in 2000. What a deal.
I bought a 98 993 c2s for $46k in 2007 and I think I would get around the same amount today after putting about 5k miles on it. Best deals in cars today. They're free to drive lol.
I bought a 98 993 c2s for $46k in 2007 and I think I would get around the same amount today after putting about 5k miles on it. Best deals in cars today. They're free to drive lol.
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Joined: May 2001
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From: Vancouver, BC
I agree that the prices appear to have bottomed out and are flat on the non-turbo cars. What what is happening with the Turbo 993's? I have been looking at that market for a while now, and it appears on the average to be going up, or at least remaining at what I think is a real premium level. A typical 993 Turbo would be around $55,000 - $60,000 (35,000 - 50,000 miles), and if the mileage is low can easily creep into the $70,000+ range. Occasionally you see someone trying to flog a real low mileage example for $100,000+...always wondered if they every sold one at that price. So that is TWO NA 993's for a Turbo...wow!
The Turbos appear to be quite resistive to depreciation, but they also are very mileage sensitive. Adding 20,000 miles to a turbo gives you more depreciation than adding that many miles to a NA car (IMHO).
Cheers,
Mike
The Turbos appear to be quite resistive to depreciation, but they also are very mileage sensitive. Adding 20,000 miles to a turbo gives you more depreciation than adding that many miles to a NA car (IMHO).
Cheers,
Mike
Instructor
Joined: Aug 2010
Posts: 154
Likes: 2
Each 993 I've owned took me some months of actively searching each day several hours a day these cars are limited and the demand for well maintained examples only seems to grow. It has already been stated many are sold overseas or abused so i don't see their "value" falling away since they are sought after and limited in number but the challenge is always finding cars that have been properly cared for. Its true that the higher the mileage examples sell for less but a 993 with 90K miles thats been cared for has plenty of good life left her so yep time to buy is now, agreed!
Instructor
Joined: Apr 2007
Posts: 165
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From: Taiwan
I feel the 993 market bottomed out about the same time as the economy in 2008 for the nicer cars, with prices not going any lower since then. A well maintained decent 993 is definitely not any cheaper today than it was in 2008 and probably will never be again unless the economy tanks hard. That indicates the 993 market has definitely bottomed out already. The only way for the price to go is 'up' from this point. Again, talking about the nicer cars, not abused 150,000+ miles examples. Another contributing factor is the amount of 993 models leaving the continent permanently returning home to Europe. Not small numbers either. The $3,000 or so costs to ship overseas is not stopping the serious buyer over there.
Pro
Joined: Apr 2003
Posts: 563
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From: PA
"Good" air cooled 911 variant Porsches in general hold their value fairly well provided you know what to look for and don't pay a premium relative to the market when you purchase. I have owned five (an SC, Carreras and 993s) and have made a couple of bucks or broke close to even on all. (not including taxes, maintenance and insurance) This includes two that I wholesaled to dealers because I was too lazy to deal with the sale process.
Learn the marque and understand what's good and what's not. Save your pennies and be ready to jump on a good car.
Learn the marque and understand what's good and what's not. Save your pennies and be ready to jump on a good car.
Instructor
Joined: Sep 2009
Posts: 106
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"Good" air cooled 911 variant Porsches in general hold their value fairly well provided you know what to look for and don't pay a premium relative to the market when you purchase. I have owned five (an SC, Carreras and 993s) and have made a couple of bucks or broke close to even on all. (not including taxes, maintenance and insurance) This includes two that I wholesaled to dealers because I was too lazy to deal with the sale process.
Learn the marque and understand what's good and what's not. Save your pennies and be ready to jump on a good car.
Learn the marque and understand what's good and what's not. Save your pennies and be ready to jump on a good car.
Lee
Drifting
Joined: Jul 2001
Posts: 2,298
Likes: 78
From: St. Louis
IMHO you should find one you like, buy it, drop ~$3k in new brakes, fluids, plug wires, tune-up and maybe a nice suspension then drive it. If you ain't driving it, you aren't really enjoying it. Everyone has their own opinion on this, but I do not feel that paying the high dollars for a super low mileage example that I plan on driving through the years.
Take it from someone that has had one sitting in the garage for three years waiting for the courts to get things straightened out. I ended up picking up another one to have something fun to drive - though it is in the shop right now getting all the aforemetioned tasks performed on it.
Take it from someone that has had one sitting in the garage for three years waiting for the courts to get things straightened out. I ended up picking up another one to have something fun to drive - though it is in the shop right now getting all the aforemetioned tasks performed on it.
