Z06Kevin

I have been watching the market for GT3's - and I have a GT3 which while I am not actively looking to sell, if I got the right offer (read premium price) I'd sell.

Anyway - are fellow GT3'ers seeing a thinning out of the available GT3's in the market? 9 months ago, I could find at least 12-15 cars for sale. Now, I am seeing 2 or 3 - and prices in panoramic seem to have dipped from the 100's a year ago, to high 70's 3 months ago, back to around 80k now.

Are we starting to see a market where a GT3 for sale is a rare thing- and there are not enough to fill demand? Thus resulting in rising prices?

Is the 997 GT3 a missed shift? I read the review in Excellence (apr 07) on the GT3 997 vs 996 - and while they give a good review of the 997 - and they give the nod to the 997- the way I read it (and I am probably biased!) was that they gave the 996 a strong nod for that certain je ne sais qua...

Specifically this passage in the article (next to last paragraph):

"so what's that tugging at me, arguing for the 996? It's purity of concept..."

Certainly, given the opportunity for a press car - excellence can't dog the 997 for being a sofa couch version of the 996 GT3 - they'd probably miss their allocation for future test cars. So - the above simple statement, is pretty strong stuff.

Or am I just fantasizing that my GT3 is going to start rising in value as it becomes (has become?) a rare commodity?

Kevin
Phoenix, AZ

smlporsche

I think you're fantasizing...

While the '04 GT3 market is not as soft as the Excellence magazine value (mid 60's) nobody in their right mind is going to pay over 80K for one with low miles.

Just my $0.02

enthusiast

I think a lot of the 996 GT3 are now owned by people who appreciate them. The "latest and greatest model" buyers have long since moved on. Also, the winter season is not a good time to sell in most regions of the US and Canada. Some 996 GT3 on the market are probably being replaced by a 997 Turbo or 997 GT3.

Harvey Yancey

A good gauge is the 'buy-it now's' on eBay ... I have seen several over the past few months in the mid-70's. There is one on ebay right now (Item# 170076692691) with a buy-it-now of $75K.

Look at the CGT's. I am seeing/hearing prices in the low $300's on a regular basis. This parallels the price drop on the GT3's. For both that is around 30-32% so far.

All of us love our cars but they are a commodity and you can't take it personally when their prices drop ... as they will continue to do for the foreseeable future. But that price drop opens up more people to that market which in-turn creates stability for that particular model.

I know a lot of people that want a GT3 (myself included) but are waiting for them to get in the $60K range. Will that happen? Probably ... but it may take a year or more ... and more 997 GT3's in the market. Which is happening now.

Mr Michael B

Kevin,

I see the trend that you are confirming above as well. I hope that it remains that way, but I am sure that several current 996GT3 owners are leaning towards selling their 996GT3's - and I am for certain that some of them may take a lower amount for whatever reason. That of course may effect resale values (as most buyers base what they want to pay via the lowest priced similar car for-sale they can find).

However, with that said. I assume the low priced 996GT3's will vaporize at some time in the future and alow the resale value of a good example to stay strong. I was not too concerned when I bought my 996GT3 (that was THE version I wanted for a multitude of reasons, and I was willing to pay for it) and I know that there are several enthusiast out there that feel the same way I do.

Lastly, as Harvey above mentions:

"I know a lot of people that want a GT3 (myself included) but are waiting..."

There are literally thousands of Porsche folk waiting for the 996GT3 to become within reach. Many of them are watching very closely for the good ones, ready to buy. With that type of positive market, and the limited nature of the 996GT3, prices should remain correct for a long time to come.

And why not? The 996GT3 is a great car.

On a side note, coming from a guy that WAS waiting & going to buy a 997GT3... After researching the new model I bought the 996 version. It is just that special to me.

josephla

Smlporsche I completely disagree with your thought on pricing. I paid 85k for our gt3 in november 118k sticker car and only 970 miles. I felt that was a great deal for an essentially new car.

Mr Michael B

Amen Joey. I have several acquaintances that have recently completed similar purchases (none as low mile as yours though! Nicely done).

Larry Herman

I think that you are looking at the exception. 970 miles is a brand new car. That should command a $5K premium. Would you pay the same $85K for a 2004 with 20,000 plus miles, regardless of condition?

AllanJ

Over the next while I think pricing is going to vary a lot as more GT3s are sold. You'll have nice examples with low street miles, track demons with 15,000 miles of hard-core driving, high-mileage daily drivers and everything in between. I think trying to associate a narrow price range to these cars is misleading.

Speaking from experience as a past GT3 buyer, I would never want somebody's track car with a ton of high-revving miles on it for a $10K (or whatever) discount. I don't care about how well it was maintained because if I had to replace or rebuild the engine, it would cost a fortune. The only car I'd be interested in is a well-maintained street car with docs to prove it. I'd accept some track miles of course, but not many. I just don't want to buy a "worn out" car. Saving money like that can be very expensive.

smlporsche

I don't want to start any argument but the fact is that a GT3 like most cars is a depreciating assett.

Josephla, I think most would agree that you bought an essentially new car and you bought it before the 997's were available so at the time it was probably a good buy.

A quick search on eBay reveals the the Buy It Now price average is $77,872.50 and the average closed price was $74,475.

With the 997's comming to market and being in the winter I think the above prices are more accurate of the current market.

Have a great day!

(and yes I too am a waiter...)

993inNC

Waiting patiently also
I don't think they'll drop to current TT levels (mid-upper 50's), but I do think they'll get into the 60's

NJ-GT

I don't think they're rare. It's just that at $75k there is a bigger market, so they move quicker.

frayed

$7x,000 is a great deal on a 996 GT3. At that kind of price, it's quite a lot easier to 'play' with high zoot suspension and go fast track parts and safety gear. To me its the obvious choice if you intend to fall into the track side of the track/street continuum.

jim911

The guys who have to sell them to move to a 997GT3 are willing to take a bite, or just have too much money, which drives the price down. I didn't get one for the investment, but to enjoy on the track. Most of these cars see no more than DE and at that level does it matter if it's a slow driver in a 997 or an experienced driver in a 996?

Mr. C4

In Europe Mk.I start at EUR 55000 to EUR 75000 and the Mk. II EUR 68000 to EUR 90000 with not many Mk.I around for sale. Personally I believe that the 996 GT3 will never fall below EUR 50000 in Europe and hence it's a keeper. You guys in the US that kan pick up a 2004/05 for $70K+ are very lucky but then the US$ is not that strong..................... Then again, the Europen and US market are very different with more enthusiasts in Europe and more "I want the latest" deep pockets type of buyers in the US that spoil the market.

If I ever get posted in the US, my 1st purchase would be a 996 GT3 as I would look at it as an investment the day I bring it with me back to Europe.

Ciao,

J.