Prices Keep Drifting Up
Rennlist Member
Joined: Jan 2005
Posts: 2,678
Likes: 968
From: Northern Virginia
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; Jul 20, 2021 at 03:15 PM.
Instructor
Joined: Sep 2020
Posts: 215
Likes: 104
From: Indiana
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
Rennlist Member
Joined: May 2017
Posts: 1,301
Likes: 654
From: Charleston, SC
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.
Rennlist Member
Joined: Dec 2019
Posts: 7,124
Likes: 5,719
From: Illinois
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?
Thread Starter
Drifting
Joined: Mar 2019
Posts: 3,028
Likes: 2,162
From: NJ
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.
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Drifting
Joined: Mar 2019
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From: NJ
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Rennlist Member
Joined: Aug 2006
Posts: 9,213
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From: Chicago, IL
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.
Rennlist Member
Joined: May 2017
Posts: 1,301
Likes: 654
From: Charleston, SC
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.
Pro
Joined: Apr 2006
Posts: 545
Likes: 257
From: San Pasqual Valley, CA
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.
Pro
Joined: Jul 2004
Posts: 703
Likes: 252
From: Scottsdale
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.
Drifting
Joined: Mar 2015
Posts: 2,337
Likes: 434
From: Apalachin, New York
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?