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This fellow did well flipping this car. The auction sale was posted on Facebook but without a price so I ask in the comments and received this reply:
Bought it two months ago for $53,500 plus buyer's premium. Sold it yesterday for $70,000 plus premium.
that's the one I was trying to buy...was looking for a white x50 and signed up for Mecum because of this car. Dang, flippers will flip. Fine by me if 996tt prices soar through the roof.
Folks, I am sad to report that my 996tt is broken, but happy to say it is being totaled by my insurance company (engine needs rebuild at about $35k). BUT, how much is it worth?
It has about 75k miles on it. About a year ago, I did the cooling tube fix, new turbos/intercoolers, clutch/flywheel, tune and all the normal stuff you do when the engine is out ($15000). I also have had a few of the common problems fixed, like the sunroof, door locks, refurbished wheels and updated stereo ($6000).
I bought it for about $38k three years ago.
The insurance initial offer is $38k, prior to supplying the above fixes and upgrades.
I see the prices may be going up. I am curious what the group thinks this car would be worth prior to the engine failure. As I see it, if you buy one with 60k miles on it at about $40k, it simply means you will soon need to pull the engine to fix the cooling tube issue and spend between 7-15k to get it reliable. If you do that, you are going to keep it and not sell it. I think it should be worth $50k minimum and maybe as much as 60.
Your thoughts are appreciated - any proof of comparable sales is appreciated. The more information I can give the insurance company, the more money I get back OR they decide to rebuild the engine.
And yes, I feel terrible about breaking this engine.
2 guys in this thread who are from KC; I lived there for ~17 years.. Weird; not exactly a Porsche mecca..
I grew up there, I'd be back in a second if my wife and kids would get on board.
I digress
996tt prices are climbing, the less owners/closer to stock the better. Much like 930s, 10+ yrs ago they were dirt cheap and a lot of guys who really couldn't afford the upkeep and repairs got hold of them, hence a lot of rough cars out there, but a few diamonds as well.
I grew up there, I'd be back in a second if my wife and kids would get on board.
I more or less grew up there too but you would have to stake me to the ground to make me stay there. I call it the Mid-worst; lots of great people and I miss the fishing but the weather was just too much for me.
I digress
996tt prices are climbing, the less owners/closer to stock the better. Much like 930s, 10+ yrs ago they were dirt cheap and a lot of guys who really couldn't afford the upkeep and repairs got hold of them, hence a lot of rough cars out there, but a few diamonds as well.
Agree completely; we have high hopes for our stock 2 owner with 18K miles!
...10+ yrs ago they were dirt cheap and a lot of guys who really couldn't afford the upkeep and repairs got hold of them, hence a lot of rough cars out there, but a few diamonds as well.
Folks, I am sad to report that my 996tt is broken, but happy to say it is being totaled by my insurance company (engine needs rebuild at about $35k). BUT, how much is it worth?
It has about 75k miles on it. About a year ago, I did the cooling tube fix, new turbos/intercoolers, clutch/flywheel, tune and all the normal stuff you do when the engine is out ($15000). I also have had a few of the common problems fixed, like the sunroof, door locks, refurbished wheels and updated stereo ($6000).
I bought it for about $38k three years ago.
The insurance initial offer is $38k, prior to supplying the above fixes and upgrades.
I see the prices may be going up. I am curious what the group thinks this car would be worth prior to the engine failure. As I see it, if you buy one with 60k miles on it at about $40k, it simply means you will soon need to pull the engine to fix the cooling tube issue and spend between 7-15k to get it reliable. If you do that, you are going to keep it and not sell it. I think it should be worth $50k minimum and maybe as much as 60.
Your thoughts are appreciated - any proof of comparable sales is appreciated. The more information I can give the insurance company, the more money I get back OR they decide to rebuild the engine.
And yes, I feel terrible about breaking this engine.
My experience with insurance companies was they didn't take maintenance into account when paying out on a vehice. They look at it as a normal part of car ownership. I was hit in a car last spring that I had completely redone the suspension on, new tires, brakes, cooling system, and lots of other preventative maintenance that didn't need to be done. The at fault driver's insurance offered me the same as what any other comparable car in ok shape was going for and I got a little more by bitching, but not near what I had into the car.
They should allow more for the mods with receipts.
Be careful about not settling for a reasonable amount, they may opt to rebuild the engine and you may be better off with them totaling the car and buying it back to part or rebuild. Have they given you a salvage value? If not, ask for one.
I bought mine back for about 10% of what they paid me, fixed it and had some change left over.
Earlier today 03 996 Turbo sold at Auctions America Ft. Lauderdale no reserve $48k plus fees. Car looks good on the pics and I believe it had 24k miles on the odo.
I was watching the live stream of the auction and if I'm not mistaken it was an internet bidder that got her. I agree, seems like it would be a good flip candidate Or maybe it was someone on RL, who knows!
Originally Posted by Carlo_Carrera
So with buyer's premium that's about $53k?
A little disappointing but not bad. Maybe the purchaser will flip it.
My experience with insurance companies was they didn't take maintenance into account when paying out on a vehice. They look at it as a normal part of car ownership.
100% they don't care. they totalled my last one out and i won in the end and got them to pony up an add'l $5k for the x50 pkg they neglected to include in their first "offer".. but mods are maitainance won't affect it one bit ( didn't mine, i should say..) . unless they are factory build items.
but ultimately it'll be based up a "market value" cross section of similarly equipped and mileage driven turbo's recently "sold".
but it seems prices really are headed north! i ( now ) do believe ha.
AFAIK, the 2 really high priced sold examples have been cabs. While cabs are usually worth less, the fact that they were only made for 2 years makes them somewhat limited. Plus, I don't think anyone thinks of a 6 speed TT as a "hairdressers car" so fighting that stigma is not an issue if you want a convertible/want to be seen in a convertible. I think it is safe to assume there are just more pristine coupes out there than cabs, esp. since a coupe would have seemed to be the smart play for an investor/low mileage owner who bought new or close to new.
That said, this latest car is in a classic/neutral color and looks to be stock based solely upon right height/appearance. Silver, while classic to some is boring to others and is certainly common. From what I recall, this would have been a $40Kish car a year ago so it is still a pretty solid jump..
Calling all flippers!! Check out the asking price of this 996TTS; $269K! Granted it has 193 miles but that still seems like a huge leap! I bet they would take $267K if you offered cash.. Clearly a special order great color with heritage so that has to help. However, those yellow calipers look like **s with it. Not trying to restart the PCCB debate, just expressing my opinion!!
If you look through this whole thread you will see even going back to 2014 that the Cabrios have done really well.
I have not really seen a "museum"/ultra low mileage/5k miles +/- Coupe sold at auction yet. I suspect they may start coming out of the wood work soon as it does look like collectors have finally taken notice of 996T.
It would be interesting to see how the 193 mile Coupe would do at one of the high dollar auctions like Amelia. Maybe next year
Originally Posted by AZPcarfan
AFAIK, the 2 really high priced sold examples have been cabs. While cabs are usually worth less, the fact that they were only made for 2 years makes them somewhat limited. Plus, I don't think anyone thinks of a 6 speed TT as a "hairdressers car" so fighting that stigma is not an issue if you want a convertible/want to be seen in a convertible. I think it is safe to assume there are just more pristine coupes out there than cabs, esp. since a coupe would have seemed to be the smart play for an investor/low mileage owner who bought new or close to new.
03-29-2017, 12:44 PM
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