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100k dollar TT

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Old 03-09-2017, 01:14 PM   #16
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Old 03-09-2017, 02:20 PM   #17
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Originally Posted by dgcate View Post
There was a thread here a while back...."Will there ever be a 100K dollar TT?" (the guy was looking for one).

That thread's gone....but, whoever started it, this made me think of it. Whoever was looking for one...here you go. (No. I don't have anything to do with this car).


http://www.ebay.com/itm/1996-Porsche...5YvjhS&vxp=mtr
I am the OP of the original thread. Since posting it, I have become more educated on the cars and watch the market pretty close. Here are my observations:

Judging from your (collectively) responses, there were not $100k cars with less than 100k miles around or extremely rare....this seems to be true, in fact there has not been a single car for sale with a $100k ask....except for the tired blue one that is not one I would consider & the car discussed here.

There seems to be a glut of 30-50k mile cars in the $130-$140k ask range that are not moving.....a lot of really good looking cars in great colors. Have not ventured as far as calling to see how firm the asks are. I can imagine that one of these owners would sell at $120-125k....but maybe I'm confusing that with a dream I had

Now wrestling with the wife and the checkbook (what you would call a handicap match in WWE) to see if I can/should stretch to start looking at that $130-140k range. Have $80k in cash, finance $45-50k for a 2nd play car?

Tough sell
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Old 03-09-2017, 02:26 PM   #18
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Just called about this red car. They said it has a deposit pending inspection, and a LONG line of backup buyers
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Old 03-10-2017, 08:21 PM   #19
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Just called about this red car. They said it has a deposit pending inspection, and a LONG line of backup buyers
Spend the extra money and stretch to get the nicest color you like, with the lowest mileage in the best condition. The car is going to reward you back in the future probably 3-4 times over what you pay for it if you hang on to it.

Right now its a dip in the air cooled Porsche market. Its going to go on an upswing again now that it pulled back slightly.

You wont get hurt even overpaying by 10-20K unless you are looking to keep the car for a year or something. You will definitely get your money back and then some in the future on a turbo. (I actually have 2 of them because I believe it so much). One I bought to resell in another year or 2. And my white one that I will not sell until I am too old to push the clutch in. LOL
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Old 03-12-2017, 09:21 PM   #20
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As I said in a long past post, prices will drop and continue to drop as interest rates rise. The Fed is about to bump 'em up again. This doesn't just apply to classic Porsches. Ask any art investor. Can't believe Hagerty is so behind the 8 ball on this. Presume they want to keep insurance rates up.
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Old 03-12-2017, 09:34 PM   #21
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Well at least we can identify the top of the market now but $1k mile cars were going for way more in the past.....

http://www.goodingco.com/vehicle/199...e-993-turbo-2/
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Old 03-13-2017, 11:36 AM   #22
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Originally Posted by ronnie993tt View Post
As I said in a long past post, prices will drop and continue to drop as interest rates rise. The Fed is about to bump 'em up again. This doesn't just apply to classic Porsches. Ask any art investor. Can't believe Hagerty is so behind the 8 ball on this. Presume they want to keep insurance rates up.
The market of any luxury item is usually related to the interest rates and stock market for sure, but I personally think that the turbo cars will not drop too much more. They are at a pretty low range right now, and the interest (people interested in the car) level is increasing as time goes on and less cars are available for sale.

I think personally the dip in the pricing, is more related to the market being flooded with cars from people cashing out on them and taking profits, more so then the economy.

The interest rates and economy is related to the buying and selling of these cars for sure, but respectfully I don't think it has the effect that you are describing (like jewelry and diamonds and other luxury commodities do). I happen to work in the auto industry buying and selling exotics for a living. So I am pretty familiar with the cars, and less with the economy. It sounds like you are more familiar with the financial side then myself. It's nice to hear opinions from both sides actually.

We may not be to the lowest point of the values, but we are very close to the bottom now in my opinion unless some major depression happened.
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Old 03-15-2017, 09:05 PM   #23
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I think we pretty much agree but not so much on degree. Not sure how old you are but unfortunately I've been through a few of theses cycles and seen some dramatic declines. The hefty supply of 993tt's that came out of the woodwork evinces an ample supply so I'm a little more pessimistic. I only hope I'm right because I'd like to get my insurance costs down.
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Old 03-16-2017, 04:01 AM   #24
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Interest rates will not rise by a substantial amount, at least not enough that the classic car market will be hit as heavily as some believe. I believe that a dip is definitely here but prices will not stay low forever.
Eventually, as the generations that idolized this car in their youth continue to amass wealth, the prices will inevitably rise as these cars are the pinnacle of the air-cooled era. Add to this performance and usability that puts it in league with modern sports cars (unlike 60s/70s musclecars) and the argument for a 993TT gets even stronger. When the market will rise is anybodies guess.
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Old 03-16-2017, 10:48 AM   #25
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The problem is the younger generation idolizes new, modern cars and most of 'em don't do manual. 993tt's aren't on their radar map.
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Old 03-16-2017, 01:12 PM   #26
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Originally Posted by medici78 View Post
Interest rates will not rise by a substantial amount, at least not enough that the classic car market will be hit as heavily as some believe. I believe that a dip is definitely here but prices will not stay low forever.
Eventually, as the generations that idolized this car in their youth continue to amass wealth, the prices will inevitably rise as these cars are the pinnacle of the air-cooled era. Add to this performance and usability that puts it in league with modern sports cars (unlike 60s/70s musclecars) and the argument for a 993TT gets even stronger. When the market will rise is anybodies guess.
I agree totally with this.

If you be patient and sit tight and enjoy and hang onto your car you will be rewarded in the future. The cars are going to continue to increase after this dip. There are no more air cooled cars ever being built and our cars are the last of them. As an example for comparison..... Look at the Ferrari F430.... the cars with stick shift (Because it was the last manual gearbox ferrari ever made, is worth double up to 3 times as much as a F1 car in good condition. The increase on these cars went up quickly, took a dip last year-18 months ago, and now they are skyrocketing. I think this is a good comparable since its the "last": Last Air Cooled, Only twin turbo air cooled, Only Turbo All wheel drive (air cooled), in what most people think is the most desirable bodystyle 911 ever made.

Some may disagree with me, but the above is my opinion and the cycles of rare cars like these are usually repeatable and comparable.
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Old 03-16-2017, 02:07 PM   #27
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Quote:
Originally Posted by ronnie993tt
The problem is the younger generation idolizes new, modern cars and most of 'em don't do manual. 993tt's aren't on their radar map.
Agree^

I'm 39 and one of my dream cars growing up was a 993tt.
If values stay at current prices I think we still have 20 years of interest left in these cars. Many from my age group will hopefully be able to afford their dream car when kids are out of college.
My guess is one big dip that we just started to see sign off and then climbing back to current or even higher values within 20 years.

Don't forget a nice 50k mile turbo was $60-70k not to many years ago. So I would be surprised if there won't be a similar mile $80-100k 993tt within the next few years.
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Old 03-16-2017, 05:57 PM   #28
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Quote:
Originally Posted by ronnie993tt View Post
The problem is the younger generation idolizes new, modern cars and most of 'em don't do manual. 993tt's aren't on their radar map.
I'm talking about the guys in their late 20's to early 40's right now not today's teenagers. The majority of folks in this age group (myself included) was still heavily exposed to manual transmissions. The demographic that fueled the musclecar boom was the baby boomers that started splurging once they hit the stage where the kids were out of the house.
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