Prices Keep Drifting Up
#1651
Drifting
Inflation. In other words “prices keep drifting up” 🤣🤣. Not to even mention supply and demand. More (passionate) buyers for 996 now than 1999. Many more. And growing daily with Magnus’ IG feed. Among others.
996 isn’t just collectible, it’s become a full blown cult
996 isn’t just collectible, it’s become a full blown cult
Last edited by bdronsick; 07-20-2021 at 03:15 PM.
The following users liked this post:
Porschetech3 (07-20-2021)
#1652
I watched that green one very close. Nearly identical to mine except for a few things:
I have a 2001 and that was a 2000. I have sport classic wheels and I don't have PCM.
Mine is higher miles though at 78k. I thought I bought a little high from a boutique dealer but this softens the blow lol
Paid $29,500 in Sept last year
I have a 2001 and that was a 2000. I have sport classic wheels and I don't have PCM.
Mine is higher miles though at 78k. I thought I bought a little high from a boutique dealer but this softens the blow lol
Paid $29,500 in Sept last year
#1653
Three Wheelin'
Covid money is raising 911 prices?? That is both literally and figuratively a new one on me lol. Covid doesn’t explain how 964 went from $15K to $115K. Doesn’t even come close to explaining the CGT; unless we also believe a one time $4K check in the mail justifies a $3M budget increase?? Come on.
The following users liked this post:
GC996 (07-20-2021)
The following users liked this post:
GC996 (07-20-2021)
#1655
Rennlist Member
Because of Covid I was able to re-appropriate funds for different things that wouldn't have been on my radar otherwise. During Covid I was able to purchase a new truck and buy a house. People have more money to spend on things, so people are willing to pay up for it. Had to pay more than list price on the house because battling other people that wanted the same thing. Supply and demand. Same thing can be said about the car market, no?
#1656
Rennlist Member
Thread Starter
All my vacation $ has instead gone for Shell V Power 93, oil changes/UOA, and various parts. I didn't qualify for any covid relief funds but my work wasn't negatively affected by the covid shutdowns so I consider myself very fortunate. The entire situation has caused a dramatic shift in many aspects of everyday life, some of which are permanent. Lots of fun activities weren't available over the past 18 months, but driving a great car on great roads at great speed was and I took full advantage.
#1657
Rennlist Member
Yep. 996 ownership, golf and pickleball.
The following users liked this post:
EVOMMM (07-20-2021)
#1658
Rennlist Member
Thread Starter
#1660
Rennlist Member
Originally Posted by bdronsick;[url=tel:17560392
17560392[/url]]Covid money is raising 911 prices?? That is both literally and figuratively a new one on me lol. Covid doesn’t explain how 964 went from $15K to $115K. Doesn’t even come close to explaining the CGT; unless we also believe a one time $4K check in the mail justifies a $3M budget increase?? Come on.
The 964, however, was similar to the 996, in that it was one of the least favorite models to pick from. High supply, low demand. When the 964 was around 15-20 years old, it wasn’t really valuable. But as soon as vintage starts to creep in, and antique status is knocking on the door, demand picks up, and supply becomes constrained at the same time.
Same thing was going to happen with the 996 regardless, to your point. COVID just helped that along.
The following 3 users liked this post by Mike Murphy:
#1661
Three Wheelin'
Nobody is even comparing it like that lol. All that was stated is that people have more "fun money" because of the variables that Covid threw into our lives. Like Mike Murphy notes above, it only accelerated what was already happening, but prices across the board have gone up. You're thinking of 996's becoming a full on cult is not realistic. People are just opening up that the 996 is a great Porsche, just as what happened with other previous Porsche's....., relax a little bit.
The following 2 users liked this post by Billup:
bdronsick (07-20-2021),
joseph mitro (07-20-2021)
#1662
Pro
Perhaps there are other factors involved (other than Covid / country closing / economics changing) that are driving the increased desirability and prices of the 996:
- Headlights: there is hardly any mention of this anymore, who cares.
- IMSB: there are now reliable permanent repairs, the risk can be eliminated. And it is way less painful when the car is worth more.
- Watercooled: the end of the air cooled 911s seems like it is no longer a concern.
- Grab a classic while you can: this probably applies to all sports cars or special interest cars. The new cars today don't have the same character, and perhaps in 15-20 years from now we can only buy EVs. Just amazing how 10 years ago I had my dreams about many which are all now to expensive: XKE, 280SL, BMW 3.0 CSI, etc. All have jumped in price way more than the 996.
- Survivor cars: 10 years ago all 996s were still "kinda new", meaning they were all about the same condition. As with all cars, it starts to split between the more run-down cars and the very good ones. Now the big money on 996s is really going only to the low mileage, excellent condition ones. Average ones still seem to go for $15-$20K close to prices 3-4 years ago.
- The government keeps printing money: Even millions of people who weren't in financial trouble got a few thousand extra dollars - many decided to buy that dream car before the world disintegrates. We have now printed several trillion extra dollars, which means that the value of each dollar is less, which means that when we assign a value to something like a 996, it takes more "lower-value" dollars to assign a number.
The following 2 users liked this post by 911Syncro:
GC996 (07-21-2021),
Jim Kardas (07-20-2021)
#1663
Rennlist Member
Thread Starter
Porsche making basically all new models turbo charged has also significantly driven up demand for N/A engines, I think that is a significant factor in 996 prices going northbound.
The following users liked this post:
GC996 (07-20-2021)
#1664
Perhaps there are other factors involved (other than Covid / country closing / economics changing) that are driving the increased desirability and prices of the 996:
- Headlights: there is hardly any mention of this anymore, who cares.
- IMSB: there are now reliable permanent repairs, the risk can be eliminated. And it is way less painful when the car is worth more.
- Watercooled: the end of the air cooled 911s seems like it is no longer a concern.
- Grab a classic while you can: this probably applies to all sports cars or special interest cars. The new cars today don't have the same character, and perhaps in 15-20 years from now we can only buy EVs. Just amazing how 10 years ago I had my dreams about many which are all now to expensive: XKE, 280SL, BMW 3.0 CSI, etc. All have jumped in price way more than the 996.
- Survivor cars: 10 years ago all 996s were still "kinda new", meaning they were all about the same condition. As with all cars, it starts to split between the more run-down cars and the very good ones. Now the big money on 996s is really going only to the low mileage, excellent condition ones. Average ones still seem to go for $15-$20K close to prices 3-4 years ago.
- The government keeps printing money: Even millions of people who weren't in financial trouble got a few thousand extra dollars - many decided to buy that dream car before the world disintegrates. We have now printed several trillion extra dollars, which means that the value of each dollar is less, which means that when we assign a value to something like a 996, it takes more "lower-value" dollars to assign a number.
#1665
Rennlist Member
Perhaps there are other factors involved (other than Covid / country closing / economics changing) that are driving the increased desirability and prices of the 996:
- Headlights: there is hardly any mention of this anymore, who cares.
- IMSB: there are now reliable permanent repairs, the risk can be eliminated. And it is way less painful when the car is worth more.
- Watercooled: the end of the air cooled 911s seems like it is no longer a concern.
- Grab a classic while you can: this probably applies to all sports cars or special interest cars. The new cars today don't have the same character, and perhaps in 15-20 years from now we can only buy EVs. Just amazing how 10 years ago I had my dreams about many which are all now to expensive: XKE, 280SL, BMW 3.0 CSI, etc. All have jumped in price way more than the 996.
- Survivor cars: 10 years ago all 996s were still "kinda new", meaning they were all about the same condition. As with all cars, it starts to split between the more run-down cars and the very good ones. Now the big money on 996s is really going only to the low mileage, excellent condition ones. Average ones still seem to go for $15-$20K close to prices 3-4 years ago.
- The government keeps printing money: Even millions of people who weren't in financial trouble got a few thousand extra dollars - many decided to buy that dream car before the world disintegrates. We have now printed several trillion extra dollars, which means that the value of each dollar is less, which means that when we assign a value to something like a 996, it takes more "lower-value" dollars to assign a number.
Does anyone have any stats on what the 996s are doing in resale value in Europe or elsewhere?
The following users liked this post:
EVOMMM (07-23-2021)