Doug H

Gotcha. No doubt, very cool build, but money is better spent on a real GT3. You could perhaps pick up one of these mid-$90k 2010 GT3s for upper $80k in this market. https://www.cars.com/for-sale/search...39723&zc=37211

I just think long term a real GT3 will be much more liquid. I do think hot rodded air cooled Porsches demand premiums if done well, but tricked out water cooleds . . . not sure about. I may be projecting what I would do. I would go GT3 route or pick up a real track car.

That said, would you guys feel good about purchasing it with everything stripped back off and OE stuff put back on. That gives me an uneasy feeling as well.

For the right guy though what a cool car with all the original stuff that appears to be in good order.

Kg11

I agree: the .1 and .2 GT3 market is unlikely to get too much cheaper: it is still a ton of car for the money, and always will be. There was a daily driver 45k mile .1 GT3 (no track time) that sold on here for $72k back in January (private party) and lower mile .1s should be trading high 70's private party these days. There are several here listed high 80's/low 90's and not a single one has had any action; those prices may have worked in 2017 but not with GT4 models selling in the 70's private party and 991 GT3 models under $100k. The .2 market is already seeing clean but tracked cars in the 80's, and I wouldn't be surprised to see non-tracked private party cars there as well. I had an opportunity to buy a 38k mile, no issues, no track time black/black w/buckets .2 last fall for $91k. The GT3 market isn't too hot right now. The key, as always, is finding someone who really wants to sell their car and not someone who throws it up for sale "if they get the right price" which is usually as much or more than a dealer would charge.

As far as the modded C2S GT3 clone goes: I think he paid $63k for the car stock from RAC, which charges a premium, so he is unlikely to sell it private party for more than $57k. That is the nature of private party; it isn't dealer retail and to go through the hassle, people expect a discount. Listing it at $64k stock showed most people that he wasn't a serious seller; if I were shopping, knew $57k was FMV, and saw it listed at $64k, I wouldn't have called about it. Had it been listed at $59k, I would have called, as I could have reasonably gotten to $57k. Maybe I would have even paid $59k if the car had been a little more special than I originally had thought, or he threw in a couple of mods.

Every time I have talked to someone about a car that was way overpriced and showed them recent comps (even dealer retail, from which one can infer private party prices) I get the "this car is worth more than that to me!" line, the "I am into the car for XXXX$ line" or some other rationale that has nothing to do with the current value of the vehicle. In 9 out of 10 cases, the car is still for sale months later, and the seller is out insurance and interest as well.

The same logic applies with selling a house: studies show that houses listed way too high and then with multiple markdowns sell for less than those that were reasonably priced from the get-go. All of the sudden, the question is asked "is something wrong with it" when a house has been on the market for 6 months in a 2 month av. sales market. It is even worse with cars, due to asymmetric information. This is pretty basic logic that most people trying to sell cars on Rennlist don't grasp.

Kg11

It only has 23,000 miles. That works out to 3,000 miles/year. Was is his winter dedicated driver? Very odd!

My friend has a 2006 C2S, lived in Seattle since day 1, 60,000 miles, and the car has never seen rain. It gets driven to Montana in the summer and Scottsdale in the spring and fall.

Kg11

He posted early in the thread that he paid $63k for the car from RAC. He bought it from a notoriously overpriced dealer, drove it for a year, and expected to flip it for a profit? Unrealistic from day one. Mods add, at best, 40% of value, if the car comes with all stock parts. Probably less if one has to do a ton of work to take it back to stock.

Kg11

Minor (less than $500) damage on this one, 75,000 miles, manual, PSE, Porsche dealer sold. It may be worth looking into; they are asking $40k. Knowing the market right now, this would be about a $52k car at 30,000 miles. I would deduct $10-11k for mileage and $3k for the accident, so $38k would be a good solid price. I personally midnight blue.

https://minneapolis.porschedealer.co...gurus_listings

SP2000

I had a neighbor who listed his house at $50K above what fair market was. It sat for months and months, in a time when houses in the area were selling in in a couple of weeks. I talked to the guy once and casually brought up that his house has been sitting for a while, what's up? His rationale: he renovated the kitchen for $50K so it's worth $50K higher than every other house around with the standard kitchen. I didn't have the heart to tell him he was on crack. Whether cars or houses, very few people understand that you will never, ever get back the money you've put in after market. If you're lucky you may hope for 25% back, on a good day.

jdoc1949

Nice car if you could get for $36-38k, just wait I think they will go down a little more under current conditions.

rabeekman

Sunk cost fallacy never fails...

mjposner

Whether cars or houses, very few people understand that you will never, ever get back the money you've put in after market. If you're lucky you may hope for 25% back, on a good day.

Actually cars that is mostly true, but for houses it is not true. Pert HGTV,

#7 Major Kitchen Remodel

Average return at resale: 91 percent

https://www.hgtv.com/lifestyle/real-...y-off-pictures

Doug H

My experience as well from flipping and investing in residential property market for almost 20 years. Proper updates and remodels can actually bring more value than you paid for the updates/remodeling. After flipping at least 50 homes, I can walk in and pretty much know exactly what to spend, where to spend it and what I will get back out of it before I purchase. I don't spend it unless I can get more back out of it and I am rarely, if ever now, wrong.

SP2000

I own several investment properties as well so I know all about it. The key word in your post is proper. Spending $25K to update a 30 year old kitchen will get a nice ROI. But in my example the guy just pimped out his kitchen on a relatively new home. And that has practically no value. That was the equivalent of putting $10K of mods into a $50K car and then expecting to sell it for $60K.

The other thing with homes is there's a max value that anyone will pay for a house in a given price point. For example you have a $500K house in a neighborhood of $500K houses. You can add $100K of "stuff" to the house. But nobody will pay $600K for it, no matter how good that "stuff". Reason being $600K home buyers want to be surrounded by other $600K homes, not $500K homes. One of the first rules of r/e is buy the cheapest house in the most expensive neighborhood you can, and NEVER the other way around.

soundbehindyou

Boy has this thread gotten off track.....

Upscale Audio

If he puts it back to stock then he as to sell the parts at a loss, and it's a lot of work. I think th car is worth the current market plus $10k for the parts upgrade and be done with it. If it were mine.

Upscale Audio

In the wrapper 2007 turbo coupe with 7,775 miles on it! $75,500 OK it's got Tiptronic, but it's a dependable transmission and I'll bet it's a nice car, owned by a 75 year old man that is a 46-year PCA member. https://www.pca.org/node/342381

Doug H

The tiptronic actually works very well in the 997.1 Turbo. It seems like the gears holds boost longer and better and the car feels quicker at normal around town driving speeds. I personally always thought the manuals in both the 996tt and the 997.1tt needed taller gearing.