95carrera

As my search continues, I had a dealer friend access Manheim PA auction results for me today. Search criteria was a 2003 996tt with approx 50k miles. I was surprised the values were a low of 36k to a high of 45k (for a 25k low mileage example). Not that many sold in the last six months but guy said they were averaging 40-42k with approximately 50k odometers.

Comparatively, I think 2005 and 2006 997's are bringing the same money with similar mileage at auction.

lowside67

Why does that surprise you?

Macster

Interesting.

I was sort of wondering what the market was for these cars.

I've been kicking around the idea of auctioning off my 03 Turbo with (approx) 86K miles to finance a purchase of another Porsche. (Got an invite to an intro of the new 991s at a local dealer early next month although I'm leaning towards a new(er) Cayman S and not a 991. Still, I plan on attending if my schedule permits.)

Sincerely,

Macster.

95carrera

Thanks Lowside67. I didn't get screen capture from my friend, just verbal report. Looking at your post more closely, the sales seem to be averaging less than originally reported to me. I was surprised at prices over 40k, thought it was a tad bit high.

jcb-memphis

Auction cars have stories....the sales manager in Harrisburg (near the real Mannheim...) went to the high end auction on my behalf for 8 months and failed to find a good car.

In that time period, he told me a lot of the car were being bought and sent to Eastern Europe....




Jeff

lowside67

Not all auction cars have stories... lots of those cars end up there if they are traded into a dealership that doesn't sell that brand... ie a guy who trades his 996TT in on a new BMW M3... most BMW lots will not keep a 10 year old car on their retail lot, even if it's a Porsche. Some good cars end up at the auction through no fault of their own, and conversely some cars with impressive pedigrees are not all they are cracked up to be. With that said, due diligence is certainly advised on any purchase whether it be from a Porsche dealer, an independent dealer, or the auction...

Mark

nathan1

As a regular at most of the Manheim "high-line" sales I would say be VERY cautious about any older Porsche that has been through auction. There are only a few ways a car ends up at the auction:

Lease Return- Most 996TT's are too old, 2-3 year old cars are the norm. Most are junk but every so often a nice car sneaks through.

Finance Company Repossession- If they cant afford the payments did they maintain it...

Dealer Car- The positive reason is the one above, however this is rare because most dealers are fairly astute and if they get a nice older Porsche on trade they have relationships with other dealers, wholesalers, etc. that they usually sell their nice trade ins to. The most common reason a dealer sells a car at auction is because they couldn't move it on their own lot (you have to wonder why if its a nice car) or when they ran it through their shop the PPI came back with a "Oh SH$#" get rid of this car...

Dealers are dying for cars right now, if its a good car they will keep it.

MMR is only a useful tool on mainline latemodel cars. Want to know the wholesale value on a 2010 Dodge Caravan, perfect! Market value on a 996TT= WORTHLESS

95carrera

[QUOTE=nathan1;9233502]As a regular at most of the Manheim "high-line" sales I would say be VERY cautious about any older Porsche that has been through auction. There are only a few ways a car ends up at the auction:

Lease Return- Most 996TT's are too old, 2-3 year old cars are the norm. Most are junk but every so often a nice car sneaks through.

Finance Company Repossession- If they cant afford the payments did they maintain it...

Dealer Car- The positive reason is the one above, however this is rare because most dealers are fairly astute and if they get a nice older Porsche on trade they have relationships with other dealers, wholesalers, etc. that they usually sell their nice trade ins to. The most common reason a dealer sells a car at auction is because they couldn't move it on their own lot (you have to wonder why if its a nice car) or when they ran it through their shop the PPI came back with a "Oh SH$#" get rid of this car...

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