993 TT Prices
08-23-2005 | 02:07 AM
#1
Thread Starter
Rennlist Member
Joined: Sep 2004
Posts: 74
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From: Winnipeg, MB Canada
993 TT Prices
If you look at my prior posts I have asked this question before; however, I want to ask it again. Reason
Am I the only one that is noticing more 993 Turbo's for sale then ever before with prices roughly $5000.00 lower than say 6 months ago? Yes, there is still the Premier's, Weissach, and RPM trying to charge a mint and finding people who will pay these prices. I am curious how the private market has reacted lately by decreasing prices; however, stealers have not?
Basic question: What is going on with the 993TT market?
Am I the only one that is noticing more 993 Turbo's for sale then ever before with prices roughly $5000.00 lower than say 6 months ago? Yes, there is still the Premier's, Weissach, and RPM trying to charge a mint and finding people who will pay these prices. I am curious how the private market has reacted lately by decreasing prices; however, stealers have not?
Basic question: What is going on with the 993TT market?
08-23-2005 | 02:47 AM
#2
Race Director
Joined: Jun 2003
Posts: 15,121
Likes: 334
From: Los Altos, CA
Tim,
Are you buying or selling?
There have been a few recent sales between Rennlisters here of late (Steve, Bob, John Gordon, etc.) but no one has published their transcation prices yet. My hunch is the prices are trending lower.
However, even in the same transaction, buyers will always think the price's too high and sellers will think the price's too low. If you are looking to buy, statistically, waiting will result in lower prices (these cars are all getting older, not younger). If you need to sell, then that's not so good news. I tend to think that this is a buyer's market today., but that's JMHO.
CP
Are you buying or selling?
There have been a few recent sales between Rennlisters here of late (Steve, Bob, John Gordon, etc.) but no one has published their transcation prices yet. My hunch is the prices are trending lower.
However, even in the same transaction, buyers will always think the price's too high and sellers will think the price's too low. If you are looking to buy, statistically, waiting will result in lower prices (these cars are all getting older, not younger). If you need to sell, then that's not so good news. I tend to think that this is a buyer's market today., but that's JMHO.
CP
08-23-2005 | 03:28 AM
#3
Thread Starter
Rennlist Member
Joined: Sep 2004
Posts: 74
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From: Winnipeg, MB Canada
To be honest, I am not in the market right know but will be in the near future. I guess I am seeking the answer to the million dollar question? What are these cars in good shape with low to low mid milage going to bottom out at? Say a year to two which is my time frame? My other question is, which I have posed to a few in the car business, what car after ten years old can hold this kind of resale? The answer from many is none they can think of and they believe there is going to be a correction. Reasons
1.Ten year old car
2.Banks won't lend for the year
3.996 depreciation (I know different market)--but I could get you a gt3 or 996 tt?
4.997
5.Maintanence costs
6.Being Canadian (American cars) Who is paying Canadian prices these days???????????????????????????????????????????????????????????????????? ??With dollar at 0.83 cents? Even take 30% exchange rate with duty (crazy to buy in Canada) save five to 10 thousand depending on model of 993.
7.Bubble--has crested and will only go down
8.Lost in minds of only the most fanatical (again ten years old)
9.997 tt coming up next year(Some 993tt owners who bypassed 996tt will be interested)?
10.Check engine light for emission????????????????????? ie.CEL
1.Ten year old car
2.Banks won't lend for the year
3.996 depreciation (I know different market)--but I could get you a gt3 or 996 tt?
4.997
5.Maintanence costs
6.Being Canadian (American cars) Who is paying Canadian prices these days???????????????????????????????????????????????????????????????????? ??With dollar at 0.83 cents? Even take 30% exchange rate with duty (crazy to buy in Canada) save five to 10 thousand depending on model of 993.
7.Bubble--has crested and will only go down
8.Lost in minds of only the most fanatical (again ten years old)
9.997 tt coming up next year(Some 993tt owners who bypassed 996tt will be interested)?
10.Check engine light for emission????????????????????? ie.CEL
08-23-2005 | 03:45 AM
#4
Thread Starter
Rennlist Member
Joined: Sep 2004
Posts: 74
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From: Winnipeg, MB Canada
Originally Posted by tim252
To be honest, I am not in the market right know but will be in the near future. I guess, I am seeking the answer to the million dollar question? What are these cars in good shape with low to low mid mileage going to bottom out at? Say a year or two which is my time frame. My other question is, which I have posed to a few in the car business, what car after ten years old can hold this kind of resale? The answer from many is none they can think of and they believe there is going to be a correction. Reasons
1.Ten year old car--very few will pay and not that rare of a car
2.Banks won't lend for the year
3.996 depreciation (I know different market)--but I could get you a gt3 or 996 tt?
4.997s--Near performance and within a year or two will be in price range
5.Maintanence costs
6.Being Canadian (American cars) Who is paying Canadian prices these days???????????????????????????????????????????????????????????????????? ??With dollar at 0.83 cents? Even take 30% exchange rate with duty (crazy to buy in Canada) save five to 10 thousand depending on model of 993.
7.Bubble--has crested and will only go down--except ultra rare low-low-low milage (turbo S, 98 c2s, 98 c4s, maybe 97 tt)
8.Lost in minds of only the most fanatical (again ten years old)
9.997 tt coming up next year(Some 993tt owners who bypassed 996tt will be interested)?
10.Check engine light for emission????????????????????? ie.CEL
1.Ten year old car--very few will pay and not that rare of a car
2.Banks won't lend for the year
3.996 depreciation (I know different market)--but I could get you a gt3 or 996 tt?
4.997s--Near performance and within a year or two will be in price range
5.Maintanence costs
6.Being Canadian (American cars) Who is paying Canadian prices these days???????????????????????????????????????????????????????????????????? ??With dollar at 0.83 cents? Even take 30% exchange rate with duty (crazy to buy in Canada) save five to 10 thousand depending on model of 993.
7.Bubble--has crested and will only go down--except ultra rare low-low-low milage (turbo S, 98 c2s, 98 c4s, maybe 97 tt)
8.Lost in minds of only the most fanatical (again ten years old)
9.997 tt coming up next year(Some 993tt owners who bypassed 996tt will be interested)?
10.Check engine light for emission????????????????????? ie.CEL
08-23-2005 | 09:57 AM
#6
Burning Brakes
Joined: Mar 2005
Posts: 771
Likes: 128
From: New Jersey
1)classic body style
2)fewer production
3)last of the air cooled
4)great build quality
5)if not already, its becomming a true classic with age
6)still stellar performance
7)perfect size and proportions(goes with point 1)
Nice examples of this car will retain value.....
as a 1st time porsche owner, and a very recent one at that, the 993 body style is still the only one I truely love. In my opinion they broke the mold after they built that style. I have no interest in the 996 or the 997. The body proportions are just too large....getting into the cockpit of the 993 is a very intimate experience. It just feels like a real sports car!...I truely love it...
I also love the classic interior. I really dont like the bell, whistles and B.S. of the newer models.
No flames just my honest opinion.
2)fewer production
3)last of the air cooled
4)great build quality
5)if not already, its becomming a true classic with age
6)still stellar performance
7)perfect size and proportions(goes with point 1)
Nice examples of this car will retain value.....
as a 1st time porsche owner, and a very recent one at that, the 993 body style is still the only one I truely love. In my opinion they broke the mold after they built that style. I have no interest in the 996 or the 997. The body proportions are just too large....getting into the cockpit of the 993 is a very intimate experience. It just feels like a real sports car!...I truely love it...
I also love the classic interior. I really dont like the bell, whistles and B.S. of the newer models.
No flames just my honest opinion.
Trending Topics
08-23-2005 | 02:57 PM
#8
Drifting
Joined: Mar 2004
Posts: 2,122
Likes: 0
From: Lee's Summit, MO. & 6mmLake of the Ozarks
Know one really knows where these cars will be at in a few years. The last issue of Excellence noted a trend may be taking place but another year of data will have to be examined. That Mag. showed prices as stable, for whatever thats worth. I did note that several other model years in the late 70's early 80's were doing the same things, so it will be interesting. I believe that buyers will always exist for our cars regardless and regeneration will continue w/no oversupply ever !! Where that will tanslate into as far as $, who knows.
I for one could have bought most any Porsche, excluding a GT2, CGT and didn't b/c of the look and feel of what I have now. How many more come after and feel the same way will determine the demand and $ in the future.
I for one could have bought most any Porsche, excluding a GT2, CGT and didn't b/c of the look and feel of what I have now. How many more come after and feel the same way will determine the demand and $ in the future.
08-23-2005 | 04:05 PM
#9
Drifting
Joined: Nov 2001
Posts: 2,438
Likes: 1
From: Beijing, China
The 993TT is a special car, just as the 76 Turbo, the 89 Turbo and the 94 Turbo 3.6 are. I saw an 89 Turbo sitting in a showroom for CAD$55k and it will probably sell because some adult had that poster up in his garage with the 930 Turbo flying in the air when he was a kid and wants THAT car. In the same way, there will be someone who saw the "Kills Bugs Fast" poster when they were a kid and will want the 993 Turbo.
I have the financial means to buy a GT2/GT3, but the only thing stopping me is that I want to keep the 993 Turbo and get the GT2/GT3 in addition :S I do want the new age creature comforts like one-touch windows (hahaha), but it's tough to move away from this car...
I have the financial means to buy a GT2/GT3, but the only thing stopping me is that I want to keep the 993 Turbo and get the GT2/GT3 in addition :S I do want the new age creature comforts like one-touch windows (hahaha), but it's tough to move away from this car...
08-23-2005 | 05:23 PM
#10
Addict
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From: San Luis Obispo, CA
I would call the current price the net bottom. Prices will continue to decline in the future, but the cars will be older and need more expensive and increasingly harder to find maintenance and parts.
08-24-2005 | 12:43 PM
#11
Nordschleife Master
Joined: Oct 2004
Posts: 7,306
Likes: 7
From: Vacuuming Cal Speedway
I'm on vacation, but I pulled myself off the beach this morning to just to answer this question which someone called me about....
My 96TT with 45k miles, almost 0% leakdown, and many mods sold for $70k. last week. Included were the BBS rims + stock rims. The car needs a front end respray and we deducted $2k from the asking price ($72K) to cover that expense. I think I priced it competitively and I had lots ofinterest. I considered parting it out, I think it would have still sold for $66-67k. and I could have made a little more money but I'm happy it went complete.
Well taken care of cars sell....
My 96TT with 45k miles, almost 0% leakdown, and many mods sold for $70k. last week. Included were the BBS rims + stock rims. The car needs a front end respray and we deducted $2k from the asking price ($72K) to cover that expense. I think I priced it competitively and I had lots ofinterest. I considered parting it out, I think it would have still sold for $66-67k. and I could have made a little more money but I'm happy it went complete.
Well taken care of cars sell....
08-24-2005 | 12:56 PM
#12
Drifting
Joined: Apr 2004
Posts: 2,628
Likes: 0
From: WEST SIDE OF MPLS, MN
My deal with my buyer fell thru last night. Loved the car the mods (and the extended service
contract that I found out was transferrable and good thru 06/2007!), but his employment situration
changed during the day yesterday (what timing!) Car runs, drives perfectly and like JrSr's car
a front respray and it would be perfect (I put new Bridgestones on it last week and new
brake pads last saturday). someone will get a great car now!
Marty Kaye
contract that I found out was transferrable and good thru 06/2007!), but his employment situration
changed during the day yesterday (what timing!) Car runs, drives perfectly and like JrSr's car
a front respray and it would be perfect (I put new Bridgestones on it last week and new
brake pads last saturday). someone will get a great car now!
Marty Kaye
08-24-2005 | 07:31 PM
#13
Intermediate
Joined: Mar 2004
Posts: 30
Likes: 0
From: Mpls,Mn
I have first hand knowledge of the Woodster's 993tt. This car for the price MK is asking is an exceptional value. I know what he has in it, and the technical talent of the people that have work with MK to make this car one that he will likely regret he sold. It's a beauty.....
08-26-2005 | 12:46 AM
#15
Wordsmith
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John should be able to claim a charitable donation deduction on his '05 return for selling his Turbo at $70K.
That being said, there's no sense in a decision to buy or sell a Porsche based on short-term market trends is nonsense. As much as I believe the 993 Turbo has held long-term stable pricing for two years, it's still a depreciating asset, not an investment.
I can only reiterate the advice to fiind the best car for your budget, check the insurance premium and enjoy the ride.
That being said, there's no sense in a decision to buy or sell a Porsche based on short-term market trends is nonsense. As much as I believe the 993 Turbo has held long-term stable pricing for two years, it's still a depreciating asset, not an investment.
I can only reiterate the advice to fiind the best car for your budget, check the insurance premium and enjoy the ride.