Prices Keep Drifting Up
#4727
Drifting
True, nobody notices 100K+ miles on 964 anymore, and that effect is now taking hold on 993
Eventually all these 100K miles+ 996’s will shatter that $30K ceiling
Eventually all these 100K miles+ 996’s will shatter that $30K ceiling
There's a trend I'm noticing with older cars. There seems to be two stages. Stage 1 at around 15 - 25 years where they're cheap and plentiful enough for most people to buy and normal used car rules still apply - Lower mileage, popular styles, options and colors all help to get a better price. Stage 2 is when the cars get older, there are fewer good examples and they start becoming true "classics". At that point only more knowledgeable car people are interested & prices start going up. The pricing seems opposite from normal used car rules. Mileage is no longer an issue and rare factory options & colors command a higher value. Does anyone else notice this?
#4728
Rennlist Member
Some of these big prices are coming from cars with low mileage. Big surprise, I know, but my point is that low mileage cars are getting more and more rare. So these larger prices drifting up are affected by the low mileage premium.
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user 8298308 (01-13-2022)
#4729
Drifting
Yeah to a point but $100K - $200K 996’s suck everything 996 up with them
Thats exactly how all of 964 got where it is now
A 964 Black/Grey Cab-Tip w/189K miles is $50K and that was only an $8K car a few years ago
The $399K 964 Turbos did that
Thats exactly how all of 964 got where it is now
A 964 Black/Grey Cab-Tip w/189K miles is $50K and that was only an $8K car a few years ago
The $399K 964 Turbos did that
Last edited by bdronsick; 01-12-2022 at 10:24 PM.
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user 8298308 (01-13-2022)
#4732
Rennlist Member
It's been hotly traded 911 in recent years. Trading hands because no one wanted to do the maintance, always passing it off to the next guy
I wonder what the mostly traded 911 is? Gotta be the 996 no?
#4733
Rennlist Member
I saw this car when I went to RFMC a few months ago. I believe they brought it over from Puerto Rico. They recovered the seats and did maintenance on it. Refurbished the wheels etc. They are definitely making a big margin on it. Very nice example.
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168glhs1986 (01-13-2022)
#4734
Everyone wants the early 1999 examples to be worth $50,000, but want to acquire one for $30,000. My car isn't going out the door for a penny under $45,000.
And if no one buys it, I'm probably better off in the long run.
I had an easier time selling a Panamera 4S that was significantly more valuable. The buyers in that space just have more money.
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168glhs1986 (01-13-2022)
#4735
#4738
Rennlist Member
There's a trend I'm noticing with older cars. There seems to be two stages. Stage 1 at around 15 - 25 years where they're cheap and plentiful enough for most people to buy and normal used car rules still apply - Lower mileage, popular styles, options and colors all help to get a better price. Stage 2 is when the cars get older, there are fewer good examples and they start becoming true "classics". At that point only more knowledgeable car people are interested & prices start going up. The pricing seems opposite from normal used car rules. Mileage is no longer an issue and rare factory options & colors command a higher value. Does anyone else notice this?
A good example has been the surge in 993 prices. At this time there are only so many of these cars left. Given the production numbers and surviving 993 cars, it doesn't take long for a bidding war to take place and prices escalate. As the game continues the prices jump with supply and demand.
It's no different with the Boomers and the muscle cars of the 1960s. Everyone wants to relive their youth. It's not just Porsches that have this impact. Even the music you like most tends to come from these formative years.
Now as supply dwindles, buyers are forced to consider higher mileage cars (those +100K mile cars you wrote about) because the remaining low mileage examples are sold or are going for the outrageous prices that the median buyers can't justify or afford.
This is going to happen with the 996, although I suspect that the larger production numbers coupled with the change in later generations' interest in cars, may dampen the market a little. Then there is economic inflation and recent supply chain shortages which have artificially elevated prices on all cars.
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Capt. Obvious (01-13-2022)
#4739
RL Community Team
Rennlist Member
Rennlist Member
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#4740
Rennlist Member
Dont forget, the largest generation in the history of the US are the millenials. They can't resist a 996. But then again, who can't?
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bdronsick (01-13-2022)