GT3 Owners are smart
#18
I believe I posted this before. The only time the term "car" and "investment" should appear in the same sentence is when it goes something like .. "I sold off all my investments to buy this car".
#19
i typically lose 10-20 grand on every car i own, drive, and trade or sell a few years later. it's actually not that much money, if you think about it. you're driving highish-end sports cars for a few thousand bucks a year.
i imagine the super rare cars or 7 figure cars are different, but that's not my business/expertise -- i have no ability to play in the market, so who cares.
i imagine the super rare cars or 7 figure cars are different, but that's not my business/expertise -- i have no ability to play in the market, so who cares.
#20
I don't know nor would I befriend a flipper. Buy the car you love regardless of its investment potential. I paid $567K for an F40 in 2007. I sold it in 2009 having driven it all of 150 miles. Needed some cash for my wedding. I sold it for $420K. 10 years later it's worth about $1.5M. If you can't play with those numbers stay outta that game. It can get real bad real fast. Production cars are so overheated these days. The correction won't be pretty. I heard the most insane lunacy awhile ago right here on RL. The comment was Steve Mcqueen is no Jerry Seinfeld when it comes to collector cars. So while some dudes are clueless the market is fairly efficient. If you bought that sweet GT3 RS in 2016 for $250K loaded and today you can't sell it for $160k that's just efficient market economics.
#22
I don't know nor would I befriend a flipper. Buy the car you love regardless of its investment potential. I paid $567K for an F40 in 2007. I sold it in 2009 having driven it all of 150 miles. Needed some cash for my wedding. I sold it for $420K. 10 years later it's worth about $1.5M. If you can't play with those numbers stay outta that game. It can get real bad real fast. Production cars are so overheated these days. The correction won't be pretty. I heard the most insane lunacy awhile ago right here on RL. The comment was Steve Mcqueen is no Jerry Seinfeld when it comes to collector cars. So while some dudes are clueless the market is fairly efficient. If you bought that sweet GT3 RS in 2016 for $250K loaded and today you can't sell it for $160k that's just efficient market economics.
I dunno, I'd pay $980 to drive an F40 for 1 mile.
#23
GT3 player par excellence
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I don't know nor would I befriend a flipper. Buy the car you love regardless of its investment potential. I paid $567K for an F40 in 2007. I sold it in 2009 having driven it all of 150 miles. Needed some cash for my wedding. I sold it for $420K. 10 years later it's worth about $1.5M. If you can't play with those numbers stay outta that game. It can get real bad real fast. Production cars are so overheated these days. The correction won't be pretty. I heard the most insane lunacy awhile ago right here on RL. The comment was Steve Mcqueen is no Jerry Seinfeld when it comes to collector cars. So while some dudes are clueless the market is fairly efficient. If you bought that sweet GT3 RS in 2016 for $250K loaded and today you can't sell it for $160k that's just efficient market economics.
#24
Rennlist Member
I got into 997 gt's as my first real love in the Porsche lineup. They hooked me and made me the pcar addict i am today. Before, Porsche was just another sports car manufacture to me.
Then, the combination of how much i loved 997 gt's, combined with smelling the opportunity as 991's blew up and no manual, I temporarily became an "investor"........but I've long since sold anything I didn't just want to drive the wheels off. My short stint with collecting/investing made the hobby stressful and work; I already have that in spades AT WORK.
Today, I only look at it as somewhere between a hobby and therapy. And I try to keep my cost of that hobby "reasonable", including considering what kind of depreciation I might eat on new purchases. I try to buy smartly because i know when I'm ready to sell, i just hit a bid and move on. Doesn't stop me from buying stuff I know I'm gonna lose my shirt but I do factor it in. But 99% of my approach today is owning experiences. Plus, the two 997 RS I kept, I doubt I ever sell; so their appreciation/depreciation are my daughters problem one day. Near zero chance I don't at least keep one of them even once i can't drive them anymore. I'll hobble out to my garage and stare and drool and remember!
Then, the combination of how much i loved 997 gt's, combined with smelling the opportunity as 991's blew up and no manual, I temporarily became an "investor"........but I've long since sold anything I didn't just want to drive the wheels off. My short stint with collecting/investing made the hobby stressful and work; I already have that in spades AT WORK.
Today, I only look at it as somewhere between a hobby and therapy. And I try to keep my cost of that hobby "reasonable", including considering what kind of depreciation I might eat on new purchases. I try to buy smartly because i know when I'm ready to sell, i just hit a bid and move on. Doesn't stop me from buying stuff I know I'm gonna lose my shirt but I do factor it in. But 99% of my approach today is owning experiences. Plus, the two 997 RS I kept, I doubt I ever sell; so their appreciation/depreciation are my daughters problem one day. Near zero chance I don't at least keep one of them even once i can't drive them anymore. I'll hobble out to my garage and stare and drool and remember!
#25
Hey J Thanks for the shout out!
I've done that math a few times. You're close but you failed to include $60K of sales tax reg fees and transport. I also paid $26K to have it Classiche Certified. Then I had to do a $30K engine out service to replace leaking head gaskets. And try smoging an F40 in CA. Gnarly. There are only 3 independent F40 experts. And you don't want to take it to a dealer. The experts have too much business. Just locating one is tough. I spent six months trying to unlock that door. Nope. Parts are NLA. So try dealing with Michelotto or Fiorano. And if you wanna lose your license forever get caught doing 165 mph on 101. It's difficult to calculate how much that cost. I loved my F40. However I kinda giggle when people say if I only had an F40 I'd be done. I say yeah son you'd be done.....
PS I forgot to include my 11-99 lifetime membership. And enclosed transport round trip to Monterey and back for the one Historics I attended with the F40. And you must include the depreciation you suffer for every mile I put on the F40. If that 150 miles pushes the odometer over 5k miles be prepared to lose $50K. Collectors don't want F40s with more than 5k miles. It just goes on and on....
I've done that math a few times. You're close but you failed to include $60K of sales tax reg fees and transport. I also paid $26K to have it Classiche Certified. Then I had to do a $30K engine out service to replace leaking head gaskets. And try smoging an F40 in CA. Gnarly. There are only 3 independent F40 experts. And you don't want to take it to a dealer. The experts have too much business. Just locating one is tough. I spent six months trying to unlock that door. Nope. Parts are NLA. So try dealing with Michelotto or Fiorano. And if you wanna lose your license forever get caught doing 165 mph on 101. It's difficult to calculate how much that cost. I loved my F40. However I kinda giggle when people say if I only had an F40 I'd be done. I say yeah son you'd be done.....
PS I forgot to include my 11-99 lifetime membership. And enclosed transport round trip to Monterey and back for the one Historics I attended with the F40. And you must include the depreciation you suffer for every mile I put on the F40. If that 150 miles pushes the odometer over 5k miles be prepared to lose $50K. Collectors don't want F40s with more than 5k miles. It just goes on and on....
Last edited by gt2-josh; 12-01-2018 at 09:33 AM.
#26
I don't know nor would I befriend a flipper. Buy the car you love regardless of its investment potential. I paid $567K for an F40 in 2007. I sold it in 2009 having driven it all of 150 miles. Needed some cash for my wedding. I sold it for $420K. 10 years later it's worth about $1.5M. If you can't play with those numbers stay outta that game. It can get real bad real fast. Production cars are so overheated these days. The correction won't be pretty. I heard the most insane lunacy awhile ago right here on RL. The comment was Steve Mcqueen is no Jerry Seinfeld when it comes to collector cars. So while some dudes are clueless the market is fairly efficient. If you bought that sweet GT3 RS in 2016 for $250K loaded and today you can't sell it for $160k that's just efficient market economics.
#27
#28
GT3 player par excellence
Lifetime Rennlist
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Hey J Thanks for the shout out!
I've done that math a few times. You're close but you failed to include $60K of sales tax reg fees and transport. I also paid $26K to have it Classiche Certified. Then I had to do a $30K engine out service to replace leaking head gaskets. And try smoging an F40 in CA. Gnarly. There are only 3 independent F40 experts. And you don't want to take it to a dealer. The experts have too much business. Just locating one is tough. I spent six months trying to unlock that door. Nope. Parts are NLA. So try dealing with Michelotto or Fiorano. And if you wanna lose your license forever get caught doing 165 mph on 101. It's difficult to calculate how much that cost. I loved my F40. However I kinda giggle when people say if I only had an F40 I'd be done. I say yeah son you'd be done.....
PS I forgot to include my 11-99 lifetime membership. And enclosed transport round trip to Monterey and back for the one Historics I attended with the F40. And you must include the depreciation you suffer for every mile I put on the F40. If that 150 miles pushes the odometer over 5k miles be prepared to lose $50K. Collectors don't want F40s with more than 5k miles. It just goes on and on....
I've done that math a few times. You're close but you failed to include $60K of sales tax reg fees and transport. I also paid $26K to have it Classiche Certified. Then I had to do a $30K engine out service to replace leaking head gaskets. And try smoging an F40 in CA. Gnarly. There are only 3 independent F40 experts. And you don't want to take it to a dealer. The experts have too much business. Just locating one is tough. I spent six months trying to unlock that door. Nope. Parts are NLA. So try dealing with Michelotto or Fiorano. And if you wanna lose your license forever get caught doing 165 mph on 101. It's difficult to calculate how much that cost. I loved my F40. However I kinda giggle when people say if I only had an F40 I'd be done. I say yeah son you'd be done.....
PS I forgot to include my 11-99 lifetime membership. And enclosed transport round trip to Monterey and back for the one Historics I attended with the F40. And you must include the depreciation you suffer for every mile I put on the F40. If that 150 miles pushes the odometer over 5k miles be prepared to lose $50K. Collectors don't want F40s with more than 5k miles. It just goes on and on....
I got into 997 gt's as my first real love in the Porsche lineup. They hooked me and made me the pcar addict i am today. Before, Porsche was just another sports car manufacture to me.
Then, the combination of how much i loved 997 gt's, combined with smelling the opportunity as 991's blew up and no manual, I temporarily became an "investor"........but I've long since sold anything I didn't just want to drive the wheels off. My short stint with collecting/investing made the hobby stressful and work; I already have that in spades AT WORK.
Today, I only look at it as somewhere between a hobby and therapy. And I try to keep my cost of that hobby "reasonable", including considering what kind of depreciation I might eat on new purchases. I try to buy smartly because i know when I'm ready to sell, i just hit a bid and move on. Doesn't stop me from buying stuff I know I'm gonna lose my shirt but I do factor it in. But 99% of my approach today is owning experiences. Plus, the two 997 RS I kept, I doubt I ever sell; so their appreciation/depreciation are my daughters problem one day. Near zero chance I don't at least keep one of them even once i can't drive them anymore. I'll hobble out to my garage and stare and drool and remember!
Then, the combination of how much i loved 997 gt's, combined with smelling the opportunity as 991's blew up and no manual, I temporarily became an "investor"........but I've long since sold anything I didn't just want to drive the wheels off. My short stint with collecting/investing made the hobby stressful and work; I already have that in spades AT WORK.
Today, I only look at it as somewhere between a hobby and therapy. And I try to keep my cost of that hobby "reasonable", including considering what kind of depreciation I might eat on new purchases. I try to buy smartly because i know when I'm ready to sell, i just hit a bid and move on. Doesn't stop me from buying stuff I know I'm gonna lose my shirt but I do factor it in. But 99% of my approach today is owning experiences. Plus, the two 997 RS I kept, I doubt I ever sell; so their appreciation/depreciation are my daughters problem one day. Near zero chance I don't at least keep one of them even once i can't drive them anymore. I'll hobble out to my garage and stare and drool and remember!
the cheapest way is to buy the car, assume 100% depn on day one and just drive the bejesus out of it.
b/c either way you are fkd.
might as well die OD on viagra.
#29
I always agree with Mooty. We shadowed each other for years. We bought the same stuff. He's also my only remaining eye witness on this forum. We never bought cars to flip, put in a bubble to save for future appreciation or drive in parade laps around Seca. We bought our cars then we drove the **** out of them until it was time to buy the next one. Buy use repeat. We bought what we liked. And I'll never stop doing that over and over again as long as I can. Now if I ever find the dude that posted my face / CGT on Wrecked Exotics I'm going to rip his head off My wife's family found it. Not cool. JBO PS I even donated my cars to Excellence so they could be tested as hard as a professional race car driver can drive them. If you drive your car like it's a Faberge Egg you are missing out on the life blood of our passion.
#30
Hey J Thanks for the shout out!
I've done that math a few times. You're close but you failed to include $60K of sales tax reg fees and transport. I also paid $26K to have it Classiche Certified. Then I had to do a $30K engine out service to replace leaking head gaskets. And try smoging an F40 in CA. Gnarly. There are only 3 independent F40 experts. And you don't want to take it to a dealer. The experts have too much business. Just locating one is tough. I spent six months trying to unlock that door. Nope. Parts are NLA. So try dealing with Michelotto or Fiorano. And if you wanna lose your license forever get caught doing 165 mph on 101. It's difficult to calculate how much that cost. I loved my F40. However I kinda giggle when people say if I only had an F40 I'd be done. I say yeah son you'd be done.....
PS I forgot to include my 11-99 lifetime membership. And enclosed transport round trip to Monterey and back for the one Historics I attended with the F40. And you must include the depreciation you suffer for every mile I put on the F40. If that 150 miles pushes the odometer over 5k miles be prepared to lose $50K. Collectors don't want F40s with more than 5k miles. It just goes on and on....
I've done that math a few times. You're close but you failed to include $60K of sales tax reg fees and transport. I also paid $26K to have it Classiche Certified. Then I had to do a $30K engine out service to replace leaking head gaskets. And try smoging an F40 in CA. Gnarly. There are only 3 independent F40 experts. And you don't want to take it to a dealer. The experts have too much business. Just locating one is tough. I spent six months trying to unlock that door. Nope. Parts are NLA. So try dealing with Michelotto or Fiorano. And if you wanna lose your license forever get caught doing 165 mph on 101. It's difficult to calculate how much that cost. I loved my F40. However I kinda giggle when people say if I only had an F40 I'd be done. I say yeah son you'd be done.....
PS I forgot to include my 11-99 lifetime membership. And enclosed transport round trip to Monterey and back for the one Historics I attended with the F40. And you must include the depreciation you suffer for every mile I put on the F40. If that 150 miles pushes the odometer over 5k miles be prepared to lose $50K. Collectors don't want F40s with more than 5k miles. It just goes on and on....
Made my day. Thanks.