CGT Prices
03-30-2014, 01:35 AM
#196
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CGT prices have had an interesting history.
When first introduced, many who ordered tried to cancel as stories began to proliferate that the car was undrivable owing to the clutch. The early '04 cars did have a trickier clutch, but the software was soon updated. In fact, Ben tried to cancel his order and was denied.
Many dealers and flippers were stuck with new cars they couldn't give away. In late '04 and throughout '05, you could get a brand new car for low to mid 300's.
Shortly after that, prices began to rise as folks realized what an amazing car it was.
Prices took a slight dip in '08 -'09, and have risen steadily since then.
When first introduced, many who ordered tried to cancel as stories began to proliferate that the car was undrivable owing to the clutch. The early '04 cars did have a trickier clutch, but the software was soon updated. In fact, Ben tried to cancel his order and was denied.
Many dealers and flippers were stuck with new cars they couldn't give away. In late '04 and throughout '05, you could get a brand new car for low to mid 300's.
Shortly after that, prices began to rise as folks realized what an amazing car it was.
Prices took a slight dip in '08 -'09, and have risen steadily since then.
that is the kind history i love read on rare cars.
04-02-2014, 02:53 AM
#198
Advanced
Thread Starter
CGT prices have had an interesting history.
When first introduced, many who ordered tried to cancel as stories began to proliferate that the car was undrivable owing to the clutch. The early '04 cars did have a trickier clutch, but the software was soon updated. In fact, Ben tried to cancel his order and was denied.
Many dealers and flippers were stuck with new cars they couldn't give away. In late '04 and throughout '05, you could get a brand new car for low to mid 300's.
Shortly after that, prices began to rise as folks realized what an amazing car it was.
Prices took a slight dip in '08 -'09, and have risen steadily since then.
When first introduced, many who ordered tried to cancel as stories began to proliferate that the car was undrivable owing to the clutch. The early '04 cars did have a trickier clutch, but the software was soon updated. In fact, Ben tried to cancel his order and was denied.
Many dealers and flippers were stuck with new cars they couldn't give away. In late '04 and throughout '05, you could get a brand new car for low to mid 300's.
Shortly after that, prices began to rise as folks realized what an amazing car it was.
Prices took a slight dip in '08 -'09, and have risen steadily since then.
04-02-2014, 07:37 AM
#199
Burning Brakes
04-02-2014, 09:12 AM
#200
Addict
Rennlist Member
Rennlist Member
CGT prices have had an interesting history.
When first introduced, many who ordered tried to cancel as stories began to proliferate that the car was undrivable owing to the clutch. The early '04 cars did have a trickier clutch, but the software was soon updated. In fact, Ben tried to cancel his order and was denied.
Many dealers and flippers were stuck with new cars they couldn't give away. In late '04 and throughout '05, you could get a brand new car for low to mid 300's.
Shortly after that, prices began to rise as folks realized what an amazing car it was.
Prices took a slight dip in '08 -'09, and have risen steadily since then.
When first introduced, many who ordered tried to cancel as stories began to proliferate that the car was undrivable owing to the clutch. The early '04 cars did have a trickier clutch, but the software was soon updated. In fact, Ben tried to cancel his order and was denied.
Many dealers and flippers were stuck with new cars they couldn't give away. In late '04 and throughout '05, you could get a brand new car for low to mid 300's.
Shortly after that, prices began to rise as folks realized what an amazing car it was.
Prices took a slight dip in '08 -'09, and have risen steadily since then.
Model Year 2006 cars were subject to a rule change concerning air bag technology. Porsche applied for a wavier to exempt the Carrera GT because of its low production volume, etc. and the need to re-crash-test samples of the CGT configured with the new technology air bag system. NHTSA or DOT or whomever wasn't buying the Porsche gambit and refused to issue a wavier. MY 2006 CGT's would have to meet the new rule or be excluded from importation.
Porsche then "fixed" the problem by moving all of MY2006 CGT USA production into MY2005. This slipped all of the planned cars into the country under the old rule without requiring re-design and re-testing. However, this decision forced TWICE as many (2005 + 2006) cars as called for by the marketing plan into MY 2005. This glut of cars that PCNA had never intended to sell in only one year began to appear on dealer lots without prospective buyers. CGT demand had been fished out for the time being and the glut forced down prices as PCNA tried to get rid of the excess inventory.
I attended an all-expenses-paid driving event at Barber Motorsports Park in the Spring of 2005 hosted by PCNA designed to jump-start demand for the CGT. It was called the "Carrera GT Driving Experience" and paired CGT owners with qualified prospects to generate some exciting track time and overall good feelings about the car. I had a good time and so did my qualified prospect (Larry Schumacher - haha), but I'm not sure the event moved the needle of demand as much as PCNA had hoped.
It took a long while to burn off the excess CGT inventory. Right when things looked especially bleak, the international currency markets began to move in a direction that made USA CGT prices extremely attractive to Euro-paying customers. Some number of the lingering CGT's were purchased with Euros and transported back to Porsche AG to have European safety requirements retrofitted for European use. The USA-to-Europe inventory flow finally dried up the excess supply here and prices began "rationalizing" toward equilibrium levels.
OK, maybe I'm long-winded but I thought the record needed adjusting
P.S. The doubling of MY 2005 production for the USA made it difficult to deliver any ROW CGT's that year. MY2004 and MY2006 are seen throughout the world but few MY2005 CGT's are seen outside of USA/Canada. No MY2006 CGT was ever sold new in the USA.
Last edited by W8MM; 04-02-2014 at 09:29 AM.
04-02-2014, 10:48 AM
#201
Burning Brakes
Another anecdote I believe to be true...when I purchased my 2006 Cayman S in October of 2006, my local dealer still had at least one 2005 CGT in stock. Talk was that there was around 70 of them still at US dealers, as noted above, way too many to move quickly. Porsche first offered some dealer incentives aka trunk money to move some units, then from what I heard, the last 30 or so were bought back by the factory, sent back for retrofit to RHD, and sold in the UK market where there was still demand. I've been told this story by several longtime dealer types here, assume it's true.
04-02-2014, 10:01 PM
#203
Drifting
Learned a lot after missing out on a members car here car who decided to keep it and recently passed on a red 05 then a black 04. The black 04 was due to me believing the 05's are worth more which who knows but more important who cares.
Three have slipped thru my hands - strange as the last 4 cars I have bought were all sight unseen and bought the moment I saw them on the internet one is a members here old 16M that traded it for a CGT
and told me years ago to buy one. Anyway - 3k mile cars wholesale right around 400k add 7% if the dealer gets involved and one can take it from there. A good service is 30k and would suggest adding that to the equation.
I have no idea if a CGT will hold at a 450k car - at 350 they were a great deal.
04-02-2014, 10:30 PM
#204
Burning Brakes
Many of those are sold - the listings remain in hopes to hook a potential buyer so the dealer can call "sitting on the fence 918 buyers" that have CGT's to get them to make a deposit.
Learned a lot after missing out on a members car here car who decided to keep it and recently passed on a red 05 then a black 04. The black 04 was due to me believing the 05's are worth more which who knows but more important who cares.
Three have slipped thru my hands - strange as the last 4 cars I have bought were all sight unseen and bought the moment I saw them on the internet one is a members here old 16M that traded it for a CGT and told me years ago to buy one.
Anyway - 3k mile cars wholesale right around 400k add 7% if the dealer gets involved and one can take it from there. A good service is 30k and would suggest adding that to the equation.
I have no idea if a CGT will hold at a 450k car - at 350 they were a great deal.
Learned a lot after missing out on a members car here car who decided to keep it and recently passed on a red 05 then a black 04. The black 04 was due to me believing the 05's are worth more which who knows but more important who cares.
Three have slipped thru my hands - strange as the last 4 cars I have bought were all sight unseen and bought the moment I saw them on the internet one is a members here old 16M that traded it for a CGT
and told me years ago to buy one. Anyway - 3k mile cars wholesale right around 400k add 7% if the dealer gets involved and one can take it from there. A good service is 30k and would suggest adding that to the equation.
I have no idea if a CGT will hold at a 450k car - at 350 they were a great deal.
04-02-2014, 11:22 PM
#205
A good engine out service, and a clutch change, tires = 30k. Otherwise an oil change, brake check, and new tires throughout the years is no big deal for what your getting out of these things. Nothing else is really needed if you treat it right.
Engine outs don't need to be done as much as people think IMHO. BUT doing it to check the inners for leaks is a great idea prob once a decade. Detail it also while your in there.
After talking to many CGT mechanics working on these cars around the country some say a valve that is a bit loose is a happy valve. To tight after the engine is broken in may be bad afterall. Adjust them on mileage only some say. Two sides to all coins I guess.
All cars need a few things looked at before purchasing. PPI checking the ecu for excessive overrevs, a few is normal and fine the engine is robust and trust me you will miss the rev limiter at one point. If not you may not be doing it right hahaha. JK. Check the clutch thickness, and this can be done on a lift through a small hole in the underbelly. Demand to see it measured if you feel compelled.
I have a very early car. In 10 years people will be like why did I pass on an 04??? Clutch engagement is perfect, stuff of myths, prob to sell some 05 cars maybe in the day?????
If you find an 04 just see if the Campaigns are all done, if not they really are easy little fixes sans the tranny ring which can be done during engine out check ups of your cars innards. My ring has not been done yet and I am on the original clutch. BTW, the guy who owns the blue XP4 McLaren F1 owned my car first. They slept in the same room!!!
When buying any CGT check on tire build dates and the last oil change. Make sure the brakes and rotors are good as well without cracks. If they haven't been cooked hard they should be just fine for road duty at any speed for a long long time.
IDK $450k all in still seems like a deal to me. MSRP+ sales tax= More than current values. But I hope they stay this way for a few more years so I can grab a second.....
Dont hesitate on a car, get a small deposit on it to hold it and fly to see it. Stay there and get it on a lift and check all these things in a matter of hours with a dealership. You will more or less know what your getting into at that point. No car will be perfect but you can get them pretty close knowing what you start with.
This is a high level of Porsche engineering soooooo yeah it should work well with little maintenance. A CGT is like your personal race car and you should treat it as such. Its freaking epic.
Engine outs don't need to be done as much as people think IMHO. BUT doing it to check the inners for leaks is a great idea prob once a decade. Detail it also while your in there.
After talking to many CGT mechanics working on these cars around the country some say a valve that is a bit loose is a happy valve. To tight after the engine is broken in may be bad afterall. Adjust them on mileage only some say. Two sides to all coins I guess.
All cars need a few things looked at before purchasing. PPI checking the ecu for excessive overrevs, a few is normal and fine the engine is robust and trust me you will miss the rev limiter at one point. If not you may not be doing it right hahaha. JK. Check the clutch thickness, and this can be done on a lift through a small hole in the underbelly. Demand to see it measured if you feel compelled.
I have a very early car. In 10 years people will be like why did I pass on an 04??? Clutch engagement is perfect, stuff of myths, prob to sell some 05 cars maybe in the day?????
If you find an 04 just see if the Campaigns are all done, if not they really are easy little fixes sans the tranny ring which can be done during engine out check ups of your cars innards. My ring has not been done yet and I am on the original clutch. BTW, the guy who owns the blue XP4 McLaren F1 owned my car first. They slept in the same room!!!
When buying any CGT check on tire build dates and the last oil change. Make sure the brakes and rotors are good as well without cracks. If they haven't been cooked hard they should be just fine for road duty at any speed for a long long time.
IDK $450k all in still seems like a deal to me. MSRP+ sales tax= More than current values. But I hope they stay this way for a few more years so I can grab a second.....
Dont hesitate on a car, get a small deposit on it to hold it and fly to see it. Stay there and get it on a lift and check all these things in a matter of hours with a dealership. You will more or less know what your getting into at that point. No car will be perfect but you can get them pretty close knowing what you start with.
This is a high level of Porsche engineering soooooo yeah it should work well with little maintenance. A CGT is like your personal race car and you should treat it as such. Its freaking epic.
04-02-2014, 11:56 PM
#206
Drifting
My old college roommate owns a Porsche dealer - it never hit the market til I passed ... it's sold was / is listed on cars.com asking 450 3500 miles.
04-03-2014, 12:20 AM
#207
Burning Brakes
04-03-2014, 03:48 AM
#209
I have the original papers from the car when it was purchased new in 2004. The first owner paid a $55k mark up on the car. He probably lost 150k cash on it when he resold it later on. If only had he held on to it until now, he would have driven the car for free for 10 years.
