Also - (as another aussie rennlist reader and 996TT owner) you have to remember that over here the market is completely different than in the US - 996TTs are rare in oz, there were only around 300-400 sold at best by my reckoning, and that makes them close to being as scarce as GT2s in the US. I believe here 996TTs are close to as cheap as they will get (they may fall a little more though yet). Also we are RHD meaning that US imports are pretty much out of the question, so no increase in supply.

Re the US market - will be interesting to see what happens, but IMO the prices are unlikely to fall too much further for all the reasons stated by previous posters who share this view - however, only time will tell! I think more than half the 996TTs built were originally sold in the US! You guys have it good over there, take advantage while you have the opportunity!

Cheers,

Beej

 

There are thousands of 996TT's out there, because there were thousands of people who demanded them. That is why they sold consistently (new) for $120-$140k.

Just like the 993TT, which was produced at much higher numbers than it's predecessor...yet still sold new for very high amounts.

Going forward, there will probably be many more 997TT's (if the world economy holds up, that is), and people will be making the same claims as they watch their cars drop in a seemingly uncontrollable fashion.

If you read the section in Excellence regarding the value over the years of various 911's (one of the most recent issues had a study on the 996) you can see that prices drop, drop drop...then level out - maybe 10 years, 15 years down the line - at which point some begin to rise.

There are lots of excellent 996 mechanics out there who know how to do all sorts of excellent things to the cars. There are plenty of mods. Most (my guess) of you don't drive your cars a lot, but I do (55k miles now). The car has held up tremendously under daily stresses in all sorts of environments. Maybe people will discover - in a few years, when all of the garage-queen 10k mile 996TT's are snapped up in the secondary markets and all the driven 996TT's have hit 100k miles - that the cars in fact might have a great reputation in terms of reliability.

Again, due to the laws of supply and demand, people who might have wanted a 993 (and its air-cooled glory) *might* find that prices have begun to rise, and quality examples are hard to come by. What will the masses go for next?

Yep, the 996. And it will continue, as things always do, down the line, as long as Porsche makes great automobiles.

Anyways, as we all know the bottom comes when people stop talking about the bottom. So in the meantime, do yourselves a favor and ENJOY YOUR CARS!

 

I thought I saw a study once of long-term pricing which showed that 911's of all sorts eventually dropped to a value of around 35-40% of their original price when new, then pretty much stayed in that neighborhood for a long time, trading on condition and mileage. It was in either Excellence or Panorama I recall.

 

supply and demand

 

My car is gaining value every day.

Best darn car made and at the current price, insanely cheap. People should be paying 80k+ for them.



;-)

Actually, great cars and the post by cgeorgan is right on the money. I drove it a lot today. Grin factor is off the scale. That is priceless!

 

Don't forget that the Euro went past $1.42 this week, an all time high. It was at $1.12 about a year ago. Do the math and you'll see that new Porsches are going to go up a lot, and this will increase the value of the existing cars. It happened in the early seventies, and it will happen now.

 

To follow up on my original post I am including a link. These guys are selling a 2003 turbo, with 21,185 miles, and the price is $145,900.00!!!!
http://www.cars.com/go/search/detail...eadExists=true

And no, it is not a GT2 or a GT3. Isn't that more than a brand new one?

Just curious on what the group thinks.

 

That's got to be a typo....no way they can be serious about that....

 

What you want and what you get has always been an issue. If that car doesn't have a built motor from a known shop making 700whp and carbon everything, no it still isn't worth that much..lol
Nice low milage 03 X50 = 80K, fair price to both parties in my opinion.

 

Maybe the 145,000 TT at Hunting Ridge was owned by Dennis Rodman or some other celebrity. That ought to add a few $$ to the selling price. Hehe.

 

The way I look at it if I lose $20K in the couple years I will own this car its not much more then I would lose driving some new off the shelf car. To me its a no brainer in what I want to drive. I dont own it to make money and accept the depreciation with a smile on my face every time I drive it

 

I expect to lose money on any car I buy. Buying used I hope to benefit from the major depreciation in the early life.

 

+1,Totally agree.