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Are asking prices for GT3RS/GT4 etc crazy?

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Old 03-29-2016, 12:54 AM
  #16  
StanThePorscheFan
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I know someone who has an RS allocation (not in GTA) and is actually planning to transport the car from one dealer to another (not even drive it), trade it in at $75K mark up (already agreed on that with the second dealer) in order to get a new Panamera GTS at half price. Honestly, If had this kinda connections, I would do it too, with clear conscience. Put the RS in my mother's name, she wont care if she is on Porsche's black list. Then do the same thing with my dad, my brother, my cousin, my cousin's cousin...
Old 03-29-2016, 02:35 PM
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LastMezger
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Originally Posted by StanThePorscheFan
I know someone who has an RS allocation (not in GTA) and is actually planning to transport the car from one dealer to another (not even drive it), trade it in at $75K mark up (already agreed on that with the second dealer) in order to get a new Panamera GTS at half price. Honestly, If had this kinda connections, I would do it too, with clear conscience. Put the RS in my mother's name, she wont care if she is on Porsche's black list. Then do the same thing with my dad, my brother, my cousin, my cousin's cousin...
Wouldn't the $75K be taxable income?
Old 03-29-2016, 04:26 PM
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shizzle
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Originally Posted by LastMezger
Wouldn't the $75K be taxable income?
Yes, given what the CRA has been doing lately it might be considered business income and not capital gains.
Old 03-29-2016, 06:27 PM
  #19  
fanny bay r1
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Originally Posted by LastMezger
Wouldn't the $75K be taxable income?
Geez if I sold a vehicle for more than I bought it there's no way in God's green earth I'd identify that as taxable income!!!
Old 03-29-2016, 07:27 PM
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LastMezger
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Originally Posted by fanny bay r1
Geez if I sold a vehicle for more than I bought it there's no way in God's green earth I'd identify that as taxable income!!!
You know how it goes though. Random or not-so-random audit and you'll be writing a cheque with penalties on it anyway. Cars actually appreciating has never been something most have had to worry about before ;-)
Old 03-29-2016, 08:36 PM
  #21  
mistermct
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Originally Posted by CarlEightySix
Ronan thank you for sharing that article, I a few days ago I was looking at the auto trader and I thought in sharing the crazyness of some asking prices.

just look at this prices:

http://www.autotrader.ca/a/Porsche/9...&orup=1_15_157


http://www.autotrader.ca/a/Porsche/9...&orup=3_15_157


http://www.autotrader.ca/a/Porsche/9...&orup=5_15_157


http://www.autotrader.ca/a/Porsche/9...&orup=2_15_157
NUTS pricing. If I had a RS, I would promptly sell if I could get that much for it.

Originally Posted by CarlEightySix
The only way that car could be worth that much, is if it came with a $700,000 cheque in the glove box.
Pricey yes... but it is a 993 Turbo S. That's super rare especially with the colour. Given a vanilla 993tt is fetching $200k and proper GT2 clone is more (300-500?) couldn't this be worth a "whackload more"? Don't get me wrong... it's a crazy sum and I'd never buy it... but I'm sure someone will consider it.

Originally Posted by Ronan
https://grrc.goodwood.com/columnists...HWdccsGqDb7.97

Very sensible article from Harry Metcalfe on the current frenzy on Porsche pricing. Personally I would not pay some of the crazy money being asked today and I would expect it to ease back.
Agreed... but dealer "used" listings and allocation flipping seems to be working and yet the supply seems quite high... What's the catalyst to ease back?
Old 03-29-2016, 08:53 PM
  #22  
69gaugeman
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Originally Posted by shizzle
Yes, given what the CRA has been doing lately it might be considered business income and not capital gains.
If you are trading it in,it wouldn't show up anyway, would it?
Old 03-29-2016, 09:11 PM
  #23  
JTT
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Some lucky SOB's RS just arrived on Canadian shores. Saw it today at the Autoport here in Halifax.
Old 03-29-2016, 09:36 PM
  #24  
StanThePorscheFan
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Originally Posted by LastMezger
Wouldn't the $75K be taxable income?
Probably, but when you trade it in, who will know.
Old 03-29-2016, 09:47 PM
  #25  
Jamie140
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Originally Posted by shizzle
I think Harry is spot on. I'm worried that this is going to cause Porsche dealerships to start playing the games most Ferrari dealers do with their allocations.
I could tell some interesting stories.

Originally Posted by vern1
Its crazy money alright but what I find rather obscene is that wealthy guys already on "the list" just keep flipping the cars and therefore remain on the list till the next time they have a chance to get wealthier. I know that's the way it works but I don't have to like it. I know this also doesn't apply to some guys but it seems to be more common then not

Enthusiast have virtually no way to experience these cars (even if they could afford it)
You're wrong. That's not the way it works.
Old 03-29-2016, 10:05 PM
  #26  
vern1
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So tell me how someone who didn't buy a 918 gets a 911R
Old 03-29-2016, 10:12 PM
  #27  
Jamie140
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Originally Posted by vern1
So tell me how someone who didn't buy a 918 gets a 911R
They can't

I was first on the list at two dealers (whatever that means) and wasn't even close.

But as soon as you flip a car, you'll never see another desirable one.
Old 03-29-2016, 10:28 PM
  #28  
vern1
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Exactly. So that is how it works. And as I said I don't have to like it
Old 03-29-2016, 11:12 PM
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CarlEightySix
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Originally Posted by Jamie140
I could tell some interesting stories..
Can you share with us?
Old 03-29-2016, 11:20 PM
  #30  
CarlEightySix
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Originally Posted by mistermct
Pricey yes... but it is a 993 Turbo S. That's super rare especially with the colour. Given a vanilla 993tt is fetching $200k and proper GT2 clone is more (300-500?) couldn't this be worth a "whackload more"? Don't get me wrong... it's a crazy sum and I'd never buy it... but I'm sure someone will consider it.
That is true, I was exaggerating a bit in saying the car was worth 95k IMO 150/200k (low mileage) would be a fair price.

How wounder if the current Canadian prices on the used market for high end cars have some correlation of the exchange rate USD to CAD, are they hoping to sell to the land of free and at the same time someone that wants the car now and money is not a problem?

Recently a 458 Specialle was sold in Quebec for 550k, it's an insane amount of money.


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