Prices Keep Drifting Up
07-07-2022, 01:38 PM
#7351
Three Wheelin'
I just don't understand some people.
1) Buy a beautiful new 997 Turbo for $142,020 in 2007. (That's $200,210k in 2022 dollars.)
2) Let it sit doing nothing for 15 years while paying thousands (>$20k?) in registration, excise, insurance, maintenance, etc.; so now, very conservatively, $220k all-in.
BTW, Carfax has 8 service records by 2,500 miles. That's either alot (fixes) or too few (oil changes). Of course at only 3,500 miles, that could be the original oil!
Seller: "This 911 Turbo was exercised on regular basis, so nothing is suffering from atrophy." Me: Really? Regular basis?? 233 miles per year!?
3) Sell in 2022 for... what? (this will be interesting, but will it really be more than, say $230-250k? The 78 mile version sold for $285k, so maybe?)
4) Profit ? (Say it sells for $250k, that's 250/220 = 1.136, so a +13.6% profit over 15 years. A straight index fund into the S&P500 would be around +54% or more depending on timing)
This was either a bad investment or owned by someone who HATES driving.
What a waste of a beautiful car.
1) Buy a beautiful new 997 Turbo for $142,020 in 2007. (That's $200,210k in 2022 dollars.)
2) Let it sit doing nothing for 15 years while paying thousands (>$20k?) in registration, excise, insurance, maintenance, etc.; so now, very conservatively, $220k all-in.
BTW, Carfax has 8 service records by 2,500 miles. That's either alot (fixes) or too few (oil changes). Of course at only 3,500 miles, that could be the original oil!
Seller: "This 911 Turbo was exercised on regular basis, so nothing is suffering from atrophy." Me: Really? Regular basis?? 233 miles per year!?
3) Sell in 2022 for... what? (this will be interesting, but will it really be more than, say $230-250k? The 78 mile version sold for $285k, so maybe?)
4) Profit ? (Say it sells for $250k, that's 250/220 = 1.136, so a +13.6% profit over 15 years. A straight index fund into the S&P500 would be around +54% or more depending on timing)
This was either a bad investment or owned by someone who HATES driving.
What a waste of a beautiful car.
I've said this before and I will say it again, there are very few cars that are actually worth investing in and those cars are generally out of reach for 99.99% of buyers or have peaked. I think the current climate with cars has cause a lot of speculative purchasing, there have definitely been cars that have sky rocketed in value but in my opinion its more a perfect storm and car owners got lucky. If/when there is a big economic downturn a lot of people are gonna get burned.
07-07-2022, 01:58 PM
#7352
I guess I see those as viable reasons.
The new buyer obviously has enough money to fulfill his childhood dream and to get that 997 Turbo that they've always dreamt about having parked, decaying, among their collection.
But still, what a waste of a beautiful car.
The new buyer obviously has enough money to fulfill his childhood dream and to get that 997 Turbo that they've always dreamt about having parked, decaying, among their collection.
But still, what a waste of a beautiful car.
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plpete84 (07-07-2022)
07-07-2022, 02:07 PM
#7353
Location matters as well. The black Turbo is in Aspen. Theoretically if it stayed in Aspen, but the owner did not, I could see how it barely got any miles. If you lived and worked in Aspen you could daily a car and only do 50 miles a week.
07-08-2022, 02:46 AM
#7354
I get what you're saying though. It is a bit of a shame to see a car driven so little. I doubt anyone bought as an investment. More likely they just didn't drive it as often as they thought they would. Wouldn't surprise me if someone is buying it thinking it is an investment this time around, though.
Low mileage appeals to me but these ultra-low mileage examples are crazy. the premium for it is insane considering what you really get is an brand new interior. Which is pretty sweet, but no guarantees.
Speaking of 997s, this car popped on my radar.
https://bringatrailer.com/listing/20...arrera-gts-29/
Would love to own one of these.
Low mileage appeals to me but these ultra-low mileage examples are crazy. the premium for it is insane considering what you really get is an brand new interior. Which is pretty sweet, but no guarantees.
Speaking of 997s, this car popped on my radar.
https://bringatrailer.com/listing/20...arrera-gts-29/
Would love to own one of these.
Last edited by pulpo; 07-08-2022 at 02:50 AM.
07-08-2022, 03:27 PM
#7355
Racer
I get what you're saying though. It is a bit of a shame to see a car driven so little. I doubt anyone bought as an investment. More likely they just didn't drive it as often as they thought they would. Wouldn't surprise me if someone is buying it thinking it is an investment this time around, though.
Low mileage appeals to me but these ultra-low mileage examples are crazy. the premium for it is insane considering what you really get is an brand new interior. Which is pretty sweet, but no guarantees.
Speaking of 997s, this car popped on my radar.
https://bringatrailer.com/listing/20...arrera-gts-29/
Would love to own one of these.
Low mileage appeals to me but these ultra-low mileage examples are crazy. the premium for it is insane considering what you really get is an brand new interior. Which is pretty sweet, but no guarantees.
Speaking of 997s, this car popped on my radar.
https://bringatrailer.com/listing/20...arrera-gts-29/
Would love to own one of these.
07-08-2022, 11:13 PM
#7356
Three Wheelin'
For the extra $130K+ you spent for the ultra-low miles vs low miles you could have a brand new full custom leather interior of your choice. I can't imagine anyone in there right mind would pay essentially double the average market value of a low mile 997TT just for ultra-low miles unless it is going to be an investment/display piece, but some people have more money than sense. I doubt that car will ever really be driven again which is sad.
07-08-2022, 11:21 PM
#7357
Racer
A 997TT as a showpiece..... might just be me but I dont get it. It's not a 250GT California. While a 997TT is a great car, I wouldn't give it a second glance at a car show. Drive it hard, drive it often and enjoy the heck out of it. As someone said above, put your $ in an index fund.
07-09-2022, 11:19 PM
#7358
https://bringatrailer.com/listing/20...carrera-4s-98/
It really is all in the mileage, or perhaps it's the amber side markers, or maybe AZ
It really is all in the mileage, or perhaps it's the amber side markers, or maybe AZ
07-09-2022, 11:43 PM
#7359
Rennlist Member
Market now wants low mileage 996.2s and it's paying up for it. The days of unicorn colors is long gone.
07-11-2022, 02:23 AM
#7360
https://bringatrailer.com/listing/20...911-turbo-160/
White! Nephrite! Carbon Fiber! Tiptronic! Turbo! This one has it alllllll!
White! Nephrite! Carbon Fiber! Tiptronic! Turbo! This one has it alllllll!
07-11-2022, 09:30 AM
#7361
Rennlist Member
https://bringatrailer.com/listing/20...911-turbo-160/
White! Nephrite! Carbon Fiber! Tiptronic! Turbo! This one has it alllllll!
White! Nephrite! Carbon Fiber! Tiptronic! Turbo! This one has it alllllll!
07-11-2022, 09:34 AM
#7362
Rennlist Member
Eeeehhhhhh WTF... I've heard of it but have never seen it.
07-11-2022, 09:48 AM
#7363
Instructor
07-11-2022, 10:21 AM
#7364
RL Community Team
Rennlist Member
Rennlist Member
https://bringatrailer.com/listing/20...911-turbo-160/
White! Nephrite! Carbon Fiber! Tiptronic! Turbo! This one has it alllllll!
White! Nephrite! Carbon Fiber! Tiptronic! Turbo! This one has it alllllll!
07-11-2022, 10:28 AM
#7365
Rennlist Member
That's what you call a unicorn interior. Someone will pay up for it because it matches their eye color.
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NYoutftr (07-11-2022)