value decrease 997Gt3
05-31-2013, 12:50 PM
#46
Rennlist Member
100% accurate.
Just went through the sale of my '09 C2, I got the car detailed, and took about 30 pictures (GOOD ONES), a full video walk around of the car pointing out all 'issues' and features, a very detailed write up and background, copies of carfax and autocheck, and copy of recent inspection report. Be 100% up front on all issues. Expect these cars will get a PPI and when they do buyers hate surprises! I then posted here, a few other boards, craigslist in the west us, and auto trader, and on a web host where I could send responders a link with a very descriptive posting.
My experience: Enthusiast boards generated a few good leads, craigslist generated a bunch of low-ballers and tire kickers, and auto trader generated the sales leads (the buyer also saw it posted here and craigslist). Also, these are expensive toys and the first question I would ask the buyer after they were done asking me questions is: are you a serious buyer and do you have funding already lined up. if they say no, they go in the tire kicker list, if yes, and cash or have financing lined up, they go in the buyer list. It's very important to frequently check-in with the buyer list until they move to the tire-kicker list or buy another car. The buyer of my car was someone who had contacted me early on, but was shopping, and came back to my car. But had I not contacted him again, he would have bought another car.
That said, The first 6 weeks I had it listed I was traveling extensively and not able to show the car, so it sat, and I lost a few good buyers. I finally got back home and had 6 solid leads lined up, and was very, very active in showing the car and "selling". Buyer got a PPI, came back super clean confirming everything I had told them. It sold in 3 days within 5% of my asking price once I was able to actively "sell" the car. I think I spent about $300 marketing the car (detail, reports, auto trader fees)+ probably total 2-3 days total of my time . That was worth the $10k difference in price I got vs. a dealer.
My Lessons learned: market well, actively SELL the car (ideally don't list until you can focus on this activity), frequent communication checking in with all serious buyers, and use auto trader or a personal network to get the best buyers.
Just went through the sale of my '09 C2, I got the car detailed, and took about 30 pictures (GOOD ONES), a full video walk around of the car pointing out all 'issues' and features, a very detailed write up and background, copies of carfax and autocheck, and copy of recent inspection report. Be 100% up front on all issues. Expect these cars will get a PPI and when they do buyers hate surprises! I then posted here, a few other boards, craigslist in the west us, and auto trader, and on a web host where I could send responders a link with a very descriptive posting.
My experience: Enthusiast boards generated a few good leads, craigslist generated a bunch of low-ballers and tire kickers, and auto trader generated the sales leads (the buyer also saw it posted here and craigslist). Also, these are expensive toys and the first question I would ask the buyer after they were done asking me questions is: are you a serious buyer and do you have funding already lined up. if they say no, they go in the tire kicker list, if yes, and cash or have financing lined up, they go in the buyer list. It's very important to frequently check-in with the buyer list until they move to the tire-kicker list or buy another car. The buyer of my car was someone who had contacted me early on, but was shopping, and came back to my car. But had I not contacted him again, he would have bought another car.
That said, The first 6 weeks I had it listed I was traveling extensively and not able to show the car, so it sat, and I lost a few good buyers. I finally got back home and had 6 solid leads lined up, and was very, very active in showing the car and "selling". Buyer got a PPI, came back super clean confirming everything I had told them. It sold in 3 days within 5% of my asking price once I was able to actively "sell" the car. I think I spent about $300 marketing the car (detail, reports, auto trader fees)+ probably total 2-3 days total of my time . That was worth the $10k difference in price I got vs. a dealer.
My Lessons learned: market well, actively SELL the car (ideally don't list until you can focus on this activity), frequent communication checking in with all serious buyers, and use auto trader or a personal network to get the best buyers.
05-31-2013, 03:58 PM
#47
Burning Brakes
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Interesting discussion here..
No matter how you see it, those GT3s - RS - 3.8 - or 4.0 on display in the official dealers..have increased in price - compared to the situation one year ago.
Maybe there is also a difference between private sale and Porsche dealer sale price? For me, there is a difference...and I dont thhink that the ones in the Porsche dealers are sitting there for month..at least not when I checked last time, in fact the number of cars available at the dealers has decreased..
No matter how you see it, those GT3s - RS - 3.8 - or 4.0 on display in the official dealers..have increased in price - compared to the situation one year ago.
Maybe there is also a difference between private sale and Porsche dealer sale price? For me, there is a difference...and I dont thhink that the ones in the Porsche dealers are sitting there for month..at least not when I checked last time, in fact the number of cars available at the dealers has decreased..
06-23-2013, 06:09 PM
#48
Rennlist Member
As many of you are like me, we actively think about this as Porsche enthusiasts and car lovers...definitely not average car guys (as if such a thing exists).
The way I see it, the 'end of an era' type of cars typically hold their value better than similar older models. Great examples of this would be the later 993 cars which obviously hold their value very well, and other rare examples. In my mind the 997.2 GT3 and RS models are going to be in that same group as they represent the last of not only the Mezger powered cars but also the last of the 6MT variants. I *seriously* doubt Porsche is going to offer any more 6MT powered GT3s considering their tough stance on the matter...not unless the sales are a complete flop on the 991 GT3 models.
However, at the end of the day there will always be good deals and bad deals, situations that warrant our attention, and the vague guideline that cars are generally very poor investments. Even Carrera GT prices seem to be on the decline and I would have suspected that wouldn't be the case, so our beloved 911s are certainly going to fall prey to that too. I do suspect that the 3.8 RS and of course the 4.0 RS are gong to weather the test of time well in the resale department though, and it's encouraging to hear that prices are actually up on them compared to a year ago!
It's a bit fun for me since I was just contemplating buying my 3.8 RS when the news broke about the 991 GT3 transmission, and it cemented it in my mind that I was happy with my decision to pursue and 'end of an era' car. It will take time to prove whether or not it actually works out that way.
The way I see it, the 'end of an era' type of cars typically hold their value better than similar older models. Great examples of this would be the later 993 cars which obviously hold their value very well, and other rare examples. In my mind the 997.2 GT3 and RS models are going to be in that same group as they represent the last of not only the Mezger powered cars but also the last of the 6MT variants. I *seriously* doubt Porsche is going to offer any more 6MT powered GT3s considering their tough stance on the matter...not unless the sales are a complete flop on the 991 GT3 models.
However, at the end of the day there will always be good deals and bad deals, situations that warrant our attention, and the vague guideline that cars are generally very poor investments. Even Carrera GT prices seem to be on the decline and I would have suspected that wouldn't be the case, so our beloved 911s are certainly going to fall prey to that too. I do suspect that the 3.8 RS and of course the 4.0 RS are gong to weather the test of time well in the resale department though, and it's encouraging to hear that prices are actually up on them compared to a year ago!
It's a bit fun for me since I was just contemplating buying my 3.8 RS when the news broke about the 991 GT3 transmission, and it cemented it in my mind that I was happy with my decision to pursue and 'end of an era' car. It will take time to prove whether or not it actually works out that way.
07-26-2013, 07:29 PM
#49
Rennlist Member
I'm in the market for a GT3 or RS. After reading this post some say the 997.1s are more stable and the .2s have more of a chance of a bigger drop, at least in the near term. With that said, does it make sense to buy a pristine example of a .1 RS or a similar low mileage example of a .2 GT3 non RS (similar money)? I know neither is an investment but trying to determine what is the best use of my money.
07-26-2013, 07:42 PM
#50
Instructor
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I was in the market...had an orange .1 RS located. CPO'ed etc.
Days away from pulling the trigger...then I got to thinking..
Would I be happy with a .1 knowing the .2s had significant improvements?
There were many updates..educate yourself.
(No)
Would I simply want to upgrade to a .2 RS after a few months i.e. buyers remorse?
(Yes)
If I were to keep the car long term which would have a better chance of value retention? Which car would the 'market' view as more desirable down the road?
(997 GT3 RS.2)
Comparing a .1 RS vs a .2 RS the real world price spread is $30-40k. There must be a reason buyers are willing to pay that much more for the .2.
I do like the .1s brighter colors (Orange, Green) and I also view the .1s decals as much more appealing.
Bottom line, if you can rationalize the $$ difference chances are the .2 will serve you better over the long term.
Days away from pulling the trigger...then I got to thinking..
Would I be happy with a .1 knowing the .2s had significant improvements?
There were many updates..educate yourself.
(No)
Would I simply want to upgrade to a .2 RS after a few months i.e. buyers remorse?
(Yes)
If I were to keep the car long term which would have a better chance of value retention? Which car would the 'market' view as more desirable down the road?
(997 GT3 RS.2)
Comparing a .1 RS vs a .2 RS the real world price spread is $30-40k. There must be a reason buyers are willing to pay that much more for the .2.
I do like the .1s brighter colors (Orange, Green) and I also view the .1s decals as much more appealing.
Bottom line, if you can rationalize the $$ difference chances are the .2 will serve you better over the long term.
07-26-2013, 07:59 PM
#51
Rennlist Member
Thank you for the reply VegasSpeedy. I know the .1 RS vs .2 RS is a no brainer but my budget doesn't allow for a .2 RS. My question is between a .1 RS and a .2 GT3.
07-26-2013, 11:50 PM
#52
Rennlist Member
are you buying the car to drive it? track it? sit in the garage? I had same situation a few months back, opted for a .1RS because I wanted an RS. Regarding performance, many here state the .1rs and .2 gt3 are going to be similar on the track. The .2 has some suspension improvements. Once they are both tweaked for track duty will be similar.
Unless you're buying a garage queen 4.0 these cars aren't collectors items and depreciate, albeit much slower than a regular 911, and the RS variants of all of them tend to hold their value the best.
.1 RS are going to be about 90+ and .2 GT3 about 100+. .2 RS are 130+
Unless you're buying a garage queen 4.0 these cars aren't collectors items and depreciate, albeit much slower than a regular 911, and the RS variants of all of them tend to hold their value the best.
.1 RS are going to be about 90+ and .2 GT3 about 100+. .2 RS are 130+
07-27-2013, 02:14 AM
#53
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mmporsche...the .2 is a significant upgrade over the .1.
If your primary concern is resale I would go with a .1 RS over a .2 GT3.
My honest advice would be to not buy either if the money to purchase is financed. But, that is a different topic.
If your primary concern is resale I would go with a .1 RS over a .2 GT3.
My honest advice would be to not buy either if the money to purchase is financed. But, that is a different topic.
07-27-2013, 02:04 PM
#54
Rennlist Member
are you buying the car to drive it? track it? sit in the garage? I had same situation a few months back, opted for a .1RS because I wanted an RS. Regarding performance, many here state the .1rs and .2 gt3 are going to be similar on the track. The .2 has some suspension improvements. Once they are both tweaked for track duty will be similar.
07-27-2013, 02:20 PM
#55
Rennlist Member
Not to delve into a financial discussion but with money at 2.49% I see no reason to pay cash for a $100k depreciating asset. I can easily invest the capital elsewhere and do much better.
07-27-2013, 03:48 PM
#56
07-27-2013, 06:43 PM
#57
Drifting
I want to get a 991 GT3 and would have sold my 07 to get it, but since the new car is PDK only, I will now save for longer, keep the 07 and pick up a 991 in the used market. I made the mistake of selling a "last of an era 993 turbo" and won't make that mistake again!
07-28-2013, 07:11 PM
#58
I debated the same issue. Decided to go with the newer model. The 997.2 gt3 has better performance than the 997.1 GT3RS. More hp/torque and better suspension. Of course, the 997.1 doesn't have CL.
07-29-2013, 04:30 AM
#59
Burning Brakes
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And besides, whatever the car, its always good not to take the first production year..Im sure the 991 GT3 will have some gremlins as well...so wait and see and get a used one..
11-04-2013, 01:38 PM
#60
Burning Brakes
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Hi Guys,
Just wanted to get your ideas on the current situation. A few days ago I looked for 3 min at autotrader..and I saw that some 3.8RS are now offered for more than 150k, normal 3.8s for mostly around 110-115.
I would rather speak of an minimal price increase..or? Of course, I know that asking price is not sold price..but still.
Its clear that the 4.0 is a different animal and should not be part of our discussion, but it seems that even the "cheap workers 3.8 " is moving a bit up..or at least staying at its level a few month ago..
Any thoughts? feedback from real "sold" prices..?
Just wanted to get your ideas on the current situation. A few days ago I looked for 3 min at autotrader..and I saw that some 3.8RS are now offered for more than 150k, normal 3.8s for mostly around 110-115.
I would rather speak of an minimal price increase..or? Of course, I know that asking price is not sold price..but still.
Its clear that the 4.0 is a different animal and should not be part of our discussion, but it seems that even the "cheap workers 3.8 "
is moving a bit up..or at least staying at its level a few month ago..Any thoughts? feedback from real "sold" prices..?