Graygoose997

Looks like Porsches aren't the only cars taking a big hit.

http://blogs.insideline.com/straight...-huge-hit.html

nyca

I guess Barrett/Jackson just couldn't find their typical buyers from years past - somebody who just flipped a few Phoenix condos for a $100K profit to some new buyers who couldn't afford the mortgage, and wanted to buy themselves a new toy to celebrate.

These kinds of purchases are all "hot money" buys - no "hot money", no insane prices.

MusicCity_997

Absolutely, when people have more dollars that "sense" big prices follow.

Tacet-Conundrum

That was from last years auction. Wonder how it will look this year?

Someone was talking about the value of Porsche; which cars and which era?

Nothing in modern times holds it's value more than a Porsche after the initial first year depreciation. Which for Turbo 911s and GT2s can be a little steep. But going into year two on out, if you choose to keep it immaculate and not a daily driver, it depreciates little. Just look at the 993 Turbos. Holding their value more so than a 996. They are of course more collectable being the last aircooled models also being GT1 motors.

CamsPorsche

I noticed all BJ auctions are no reserve so would that mean someone who paid $880,000 in 07 could have just sold that "investment" for $319,000? WOW.

I like seeing all the hype and drama of the BJ auction. I know I'll never compete at that level but its nice to dream...LOL.

tpenta

I am not sure why anyone would use a car as a financial investment vehicle.

And, more importantly, is there anything more difficult than trying to keep a Porsche immaculate? How can you not drive the thing?

My biggest complain is that I don't get to drive it enough, and I'm putting 50 miles a day on it.

-T

tpenta

By the way, if I were to invest in a car, I would probably go down the street and look at one of those: http://www.symbolicmotors.com/inventory-classic.html

Check out the 1967 Porsche 910 or the Ferrari 512 BB (one of my favorite sports cars growing up).

-T

kosmo

Some would say that price are returning to "normal" levels.

richc

This is a good example of how much money has disappeared from our economy.

PHX 911

Prices may be dropping, but this year BJ did record revenue, in a hurricane.... I won't be shedding a tear...
If you think about all the revenue streams they have going, it's an insane business...
$55 a head to get in on Sat.
Minimum $500 from each bidders pass
$24 crappy tee shirts
buyers AND sellers premiums
food/drink
on & on

crw

Collector car prices spiked in value due to:

- influx of flippers loking to buy and sell for a quick profit

- perception of "free money" fueled by low interest rates, rising house prices, and home equity loans

-----------

The bubble burst as:

- home values (hence equity) crashed

- flippers left

- the muscle car crowd continues to age and die off - less demand

kosmo

perhaps the money was a mirage to begin w/.