First stab at a CGT pricing guide
01-10-2013 | 03:07 AM
#16
Racer
Joined: Jul 2010
Posts: 277
Likes: 58
I paid $355 for my 04 Blk/Blk 2.5 years ago, with 800 miles. I now have 3000 miles on the car. Too little miles in my opinion, but I can't drive it to work ...
Weekends, I'm lucky if I'm home. So, I take it on long stints whenever I get a chance.
Weekends, I'm lucky if I'm home. So, I take it on long stints whenever I get a chance.
02-10-2013 | 01:17 PM
#18
Wordsmith
Rennlist Member
Rennlist Member
Joined: Feb 2003
Posts: 8,623
Likes: 10
I am very interested in these cars so I started a nationwide search, created a spreadsheet of every car for sale (and those which have sold) and started doing some analysis. Yes - I have issues. Please feel free to add to this calculator as you have factual data to supply. Hoping this helps others (like me) make good buying decisions.
This probably isnt shocking but it appears the following have the biggest impact on value:
1. Mileage (far and away)
2. Year (2004 cars are worth less)
3. Maintenance history and recent clutch
4. Color (to a lesser degree)
I have about 30 cars in this database so far. If anyone is willing to PM me values for what they paid we can make this more accurate.
The best I can tell - the calculator goes like this:
-Start at $400k for a zero mile 2005 car.
-Subtract $10 for every mile
-Subtract $25k for a 2004
-If you dont have a recent clutch or excellent MNT history subtract $25k
- Rare color (anything other than silver) not sure yet
***This obviously assumes clean carfax, no paintwork etc.
I went through most every post on Rennlist and others. Found a number of documented sales all which fit the model pretty well. Some were a couple years ago and it appears prices have been pretty stable (other than 2009).
Here is an example from a year ago which is the highest mileage actual sale I could find. Its close but not perfect when miles get that high. My guess is miles start costing less as you get over 10k:
One example: 2005, silver, clutch, 19k miles sold for $225k (model says $210k)
If anyone has data to refute this model either PM me or post it up. This is just a start and I'm sure the end will be valuable to those looking for a car.
This probably isnt shocking but it appears the following have the biggest impact on value:
1. Mileage (far and away)
2. Year (2004 cars are worth less)
3. Maintenance history and recent clutch
4. Color (to a lesser degree)
I have about 30 cars in this database so far. If anyone is willing to PM me values for what they paid we can make this more accurate.
The best I can tell - the calculator goes like this:
-Start at $400k for a zero mile 2005 car.
-Subtract $10 for every mile
-Subtract $25k for a 2004
-If you dont have a recent clutch or excellent MNT history subtract $25k
- Rare color (anything other than silver) not sure yet
***This obviously assumes clean carfax, no paintwork etc.
I went through most every post on Rennlist and others. Found a number of documented sales all which fit the model pretty well. Some were a couple years ago and it appears prices have been pretty stable (other than 2009).
Here is an example from a year ago which is the highest mileage actual sale I could find. Its close but not perfect when miles get that high. My guess is miles start costing less as you get over 10k:
One example: 2005, silver, clutch, 19k miles sold for $225k (model says $210k)
If anyone has data to refute this model either PM me or post it up. This is just a start and I'm sure the end will be valuable to those looking for a car.
under $300K with less than 10K miles.
I'd suggest a condition scale of something like 1 to 5. For the most part, I think a Carrera GT is likely to present as a 2 or a 3 (some damage to centerlocks, normal cabin wear.) I've encountered a couple of "scruffy" examples and some that have been around the auction blocks ... these outlying examples probably don't fit into a pricing model and tend to skew all prices down.
I think carfax is interesting, but no guarantee. I assume every Carrera GT has to have a current Porsche dealer PPI included to be considered at fair market value.
It seems dealers start at "ambitious" advertised prices ($375K) so I'm curious to hear from others buying through a dealer; when the dust settles, what was the final deal?
02-26-2013 | 10:57 PM
#22
Wordsmith
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Joined: Feb 2003
Posts: 8,623
Likes: 10
02-27-2013 | 08:25 AM
#24
Nordschleife Master
Joined: Sep 2003
Posts: 6,402
Likes: 868
From: Barrie/Marco Island, fl.
Just looking at asking prices now compared to my experience when I was shopping last spring. They seem to be higher.
02-27-2013 | 10:59 AM
#25
Burning Brakes
Joined: Oct 2006
Posts: 820
Likes: 8
From: Houston
I will never be a CGT buyer (you guys are lucky) but thought I'd throw this out there. At some point, the CGT is rare enough that mileage won't matter anymore. They will likely bottom out, then start gradually gaining as the years go by.
I go by the example of the McLaren F1. Much rarer car, but each one that resells commands a higher price, the last one in January of this year was rumoured to be in the $5-6M range. Mileage doesn't really matter on them, and McLaren MSO can basically do anything to a newly purchased car that your wallet can afford.
If you are fortunate enough to be able to afford a CGT, go drive it! 5, 10 years from now, I predict they'll be back around $500K or more.
I go by the example of the McLaren F1. Much rarer car, but each one that resells commands a higher price, the last one in January of this year was rumoured to be in the $5-6M range. Mileage doesn't really matter on them, and McLaren MSO can basically do anything to a newly purchased car that your wallet can afford.
If you are fortunate enough to be able to afford a CGT, go drive it! 5, 10 years from now, I predict they'll be back around $500K or more.
02-27-2013 | 11:09 AM
#26
Rennlist Member
Joined: Dec 2008
Posts: 848
Likes: 318
I will never be a CGT buyer (you guys are lucky) but thought I'd throw this out there. At some point, the CGT is rare enough that mileage won't matter anymore. They will likely bottom out, then start gradually gaining as the years go by.
I go by the example of the McLaren F1. Much rarer car, but each one that resells commands a higher price, the last one in January of this year was rumoured to be in the $5-6M range. Mileage doesn't really matter on them, and McLaren MSO can basically do anything to a newly purchased car that your wallet can afford.
If you are fortunate enough to be able to afford a CGT, go drive it! 5, 10 years from now, I predict they'll be back around $500K or more.
I go by the example of the McLaren F1. Much rarer car, but each one that resells commands a higher price, the last one in January of this year was rumoured to be in the $5-6M range. Mileage doesn't really matter on them, and McLaren MSO can basically do anything to a newly purchased car that your wallet can afford.
If you are fortunate enough to be able to afford a CGT, go drive it! 5, 10 years from now, I predict they'll be back around $500K or more.
The build quality of the CGT is unlike any other car I've ever seen. Porsche truly went above and beyond.
Last edited by E-Man; 02-27-2013 at 11:42 AM. Reason: ...
02-28-2013 | 12:49 PM
#27
Pro
Joined: Jan 2004
Posts: 542
Likes: 408
From: UK
02-28-2013 | 04:49 PM
#28
Instructor
Joined: May 2012
Posts: 227
Likes: 40
From: NYC and FL
03-01-2013 | 09:18 AM
#29
Pro
Joined: Jan 2004
Posts: 542
Likes: 408
From: UK
03-01-2013 | 11:34 AM
#30
Wordsmith
Rennlist Member
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Joined: Feb 2003
Posts: 8,623
Likes: 10
It's a great data point for Porsche – they should be interested to know more about your car. Surely your dealer has reported on the "life" of your car to the factory. It would be fascinating to see the service records and get candid observations from the people who've worked on the car.