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Every collectible rises and falls...the 993 is no different. When the economy is strong and interest rates are low, investors look for the next 'collectible investment' (that was the name of a muscle car business that I used to own). 993's were one of those investments over the last few years. The big gains are done now, so they are moving on to something else...
Yeah?! So who where the speculating bulk buying 993 buyers, buying 993s without real interest in 993s but just buying them to make money? And where were all those cars kept? In the Arizona desert? Just keen to know!
Yeah?! So who where the speculating bulk buying 993 buyers, buying 993s without real interest in 993s but just buying them to make money? And where were all those cars kept? In the Arizona desert? Just keen to know!
I couldn't agree more. P cars are not an investment, they are a fun exciting hobby that at best pays for itself if you are lucky enough to own one of the air cooled varieties. When one factors in maintenance, taxes, insurance, it's a lose, lose proposition most of the time, so why all the angst about the recent cooling off of 993 values? Just owning a 993 is payback enough. It's an absolute gem! I personally think that the recent affordability of the 997s has perhaps affected the value of the 993. It's a model with similar styling, twice the performance, and about 25% cheaper than the 993. So why wouldn't buyers gravitate toward the 997? When I was looking for an entry level 911 6 years ago, I settled for a 964 for $18K because I couldn't afford a 993 or 997, and the 996 were butt ugly. Well, I think that is what is going on with the 997. It is an affordable 911 with great styling and far cheaper than the 993.
Air Cooled vs Water Cooled. Two different things. People that are considering a 993 are not considering a 997 and vis versa. Two stark contrasting buyers here. The 997 is numb and not as mechanical as the 993 in the overall driving experience. Apples and Oranges. Two vastly different cars and eras.
Let's get one thing straight ...talking about WB 993s here ... World production 20+ years ago... only so many made it to USA ... many wrecked, hacked, destroyed etc... and only a handful of Excellent, Well Maintained, Records, Low mile examples exist..thus "premium" but other WB 993s still command a premium and will continue to based on current auction and private sales. "mostly Hand Built" last of the Air Cooled. Many WB cars are getting bought up and exported to Countries outside USA. In the grand scheme of production these numbers are very small compared to NB 993s Production of 38,626 + Carrera 4 of 2,884 = 41,510 NB 993s.
993 C4S = 6,948 World Production - $80K and up / over $100K excellent low mile examples "Haggerty Excellent = $120K (some outliers under $80K)
Haggerty Current Values
#1 Concours $156,000
Condition #1 vehicles are the best in the world. The visual image is of the best vehicle, in the right colors, driving onto the lawn at the finest concours. Perfectly clean, the vehicle has been groomed down to the tire treads. Painted and chromed surfaces are mirror-like. Dust and dirt are banned, and materials used are correct and superbly fitted. The one word description for #1 vehicles is "concours."
#2 Excellent $120,000
#3 Good $89,500
#4 Fair $60,000
993 C2S = 3,714 World Production - $80K and up / over $100K excellent mile examples (some outliers under $80K)
Haggerty Current Values
#1 Concours $139,000
Condition #1 vehicles are the best in the world. The visual image is of the best vehicle, in the right colors, driving onto the lawn at the finest concours. Perfectly clean, the vehicle has been groomed down to the tire treads. Painted and chromed surfaces are mirror-like. Dust and dirt are banned, and materials used are correct and superbly fitted. The one word description for #1 vehicles is "concours."
#2 Excellent $114,000
#3 Good $82,600
#4 Fair $59,600
993 Turbo = 5,937 World Production - Over $100K all day long
993 Turbo S = 345 World Production - Sales Private & Auction $350K - $450K
993 RS = 1,014 World Production - Sales Private & Auction $450K - $800K
993 GT2 Unicorn = 173 World Production RM Auction $2.4 Million Sale "Record for Porsche 993" and other 911 Air Cooled cars.
**Auction / Private Sales I know of and have seen final agreed price** based on cars that have sold.
Interesting that now Hagerty has put a significant premium on the C4S over the C2S, could have sworn they had it the other way around a few months back
Interesting that now Hagerty has put a significant premium on the C4S over the C2S, could have sworn they had it the other way around a few months back
Yep! Agreed! I just pulled that from Haggerty yesterday. Although reading many articles comparing the C2S and C4S many publications are placing the
C4S above the C2S based on the C4S being so close to the 911 Turbo in terms of Brakes, Suspension and AWD. As one once said a "Rising Tide Lifts All Boats." Turbos are rising and lifting the C4S price as well.
Yep...JD understands how it works. Dealers were the primary cause of the run up in prices. You can't buy a 993 at wholesale, so they had to pay private retail and tack on $10k plus to make their margin. Rinse and repeat....and all of a sudden we have a 50% increase in price over a 3 - 4 year period. To be clear, I am not bad mouthing dealers as that is how they make a living.
Lots of collectors 'added' air cooled cars to their collections of other makes and models as desirability increased. Not necessarily buying in bulk, just one or two cars...
The market eventually dies for everything old. The guys/ girls that appreciated them die off themselves. It's the reason why brass era cars are worthless, the guys that were into them in the 1970's are long gone. They take the relationships with them. I can't identify with a 100 year old car. The same thing has started to happen to the 1950's and even 1960's cars. My parents generation is getting up in years and no longer has the drive to cherish these cars.
Think about it, if the original owner of my 1955 Continental is still alive they'd be a minimum of 80 something years old. Do you think you'd want to drive that car in the heat, cold, etc? My stepfather is 78 and would have been a teenager in 1955 and he can't relate to the car. Nothing is forever guys, nothing lasts forever.
06-29-2017, 06:20 PM
