997.2 GT3 RS Dilemma
Discussion
I think people that buy cars and put them away as an investment should be banned from buying them or at least banned from these forums. These forums are for people who love cars (driving them) and sharing those experiences, not looking at them as some kind of investment that sits in the garage and removes the chance for another person to enjoy. I buy loads of 911s and I use them all as often as possible and let all my close friends use and share them and when we are done having our fun we sell them and pass them on for the next person to do the same.
Dave Sums said:
I think people that buy cars and put them away as an investment should be banned from buying them or at least banned from these forums. These forums are for people who love cars (driving them) and sharing those experiences, not looking at them as some kind of investment that sits in the garage and removes the chance for another person to enjoy. I buy loads of 911s and I use them all as often as possible and let all my close friends use and share them and when we are done having our fun we sell them and pass them on for the next person to do the same.
At the risk of sounding a little defensive (but your post is confrontational) – I didn’t buy the car as ‘an investment’, I bought the best car I could find and then was alerted to the investment potential afterwards.I have bought numerous cars and driven and enjoyed all of them, every single one of which up to now has cost me considerable sums of money in terms of depreciation; try buying a new SLS AMG (even with a sizeable discount) and see how that turns out – I did!
So drive it and if you lose money write it off as a bad investment that you enjoyed...
If you want to sell it I'll give you a grand more than you paid for it so you can feel happy you made some money and I'll let you do another 317 miles in it....
Then me and my buddies will have double the fun this springtime...
I bought a 997 Gen 2 GT3 last year from OPC with 900 miles on clock and sold it 3 months later with 6500 miles on the clock.
Sure I lost £7k on that investment but I had an absolute hoot with my mates over the summer.....
I bought a 6500 mile 996 GT3 Gen 2 CS in Oct 12. Just sold it with 12500 miles on the clock and lost £7k in the process.
But my life was richer for the fun I had....and I have met the new owner and I know he is loving it also.
If I'm having a pop at you it's because I'm bored of reading about people buying these cars to make money.
Maybe it's me and not you that needs to go and find another forum to entertain myself or discuss these things...
Maybe I'm lucky I can afford to buy, use and lose.
I would rather lose money on these kind of cars that buy a new Cayenne and sell it 6 months later for £10k less (or more)..
If you want to sell it I'll give you a grand more than you paid for it so you can feel happy you made some money and I'll let you do another 317 miles in it....
Then me and my buddies will have double the fun this springtime...
I bought a 997 Gen 2 GT3 last year from OPC with 900 miles on clock and sold it 3 months later with 6500 miles on the clock.
Sure I lost £7k on that investment but I had an absolute hoot with my mates over the summer.....
I bought a 6500 mile 996 GT3 Gen 2 CS in Oct 12. Just sold it with 12500 miles on the clock and lost £7k in the process.
But my life was richer for the fun I had....and I have met the new owner and I know he is loving it also.
If I'm having a pop at you it's because I'm bored of reading about people buying these cars to make money.
Maybe it's me and not you that needs to go and find another forum to entertain myself or discuss these things...
Maybe I'm lucky I can afford to buy, use and lose.
I would rather lose money on these kind of cars that buy a new Cayenne and sell it 6 months later for £10k less (or more)..
No your post is confrontational, one of the things being on a forum teaches you is that you have to accept that there is no right and wrong. People have different opinions and different things matter/don't matter etc. Of course we can all disagree, but at the end of the day it is way easier to get into an argument on here than it is to get a some helpful advice or comfort.
Having a car with such a low mileage I can see is a dilemma, but at the end of the day you can deal with that dilemma by gritting your teeth and actually enjoying it. I think that ultimately will give you more pleasure than a nominal amount more when it comes to the future value, if you come to sell it. If I am wrong about that then don't drive it as perhaps you do see it as more of an investment. But if you are a driving enthusiast then really you are cheating yourself not to enjoy the car and no amount of financial future benefit could compensate for that.
Having a car with such a low mileage I can see is a dilemma, but at the end of the day you can deal with that dilemma by gritting your teeth and actually enjoying it. I think that ultimately will give you more pleasure than a nominal amount more when it comes to the future value, if you come to sell it. If I am wrong about that then don't drive it as perhaps you do see it as more of an investment. But if you are a driving enthusiast then really you are cheating yourself not to enjoy the car and no amount of financial future benefit could compensate for that.
pistolp said:
Having a car with such a low mileage I can see is a dilemma, but at the end of the day you can deal with that dilemma by gritting your teeth and actually enjoying it. I think that ultimately will give you more pleasure than a nominal amount more when it comes to the future value, if you come to sell it.
Agreed. And it is now my plan to do so.pistolp said:
.. one of the things being on a forum teaches you is that you have to accept that there is no right and wrong. People have different opinions and different things matter/don't matter etc. Of course we can all disagree, but at the end of the day it is way easier to get into an argument on here than it is to get a some helpful advice or comfort.
Having a car with such a low mileage I can see is a dilemma, but at the end of the day you can deal with that dilemma by gritting your teeth and actually enjoying it. I think that ultimately will give you more pleasure than a nominal amount more when it comes to the future value, if you come to sell it.
& people's circumstances are different, and forever changing.Having a car with such a low mileage I can see is a dilemma, but at the end of the day you can deal with that dilemma by gritting your teeth and actually enjoying it. I think that ultimately will give you more pleasure than a nominal amount more when it comes to the future value, if you come to sell it.
It is a dilemma and top marks to the OP for coming on here and ask for opinions.
If he keeps the car as is - what is the maximum gain, and it will only be a monetary gain? If someone offered the OP £120k, would he sell it now? Or is it £110k?
Dilemma indeed.
I bought an absolutely mint (untracked etc etc) one owner 11 plate (mar 2011) 7.2 RS in launch colours and super spec (lift/leather/carbon etc). I must admit it never crossed my mind to mothball the car. I drive it at any opportunity I get. What a car: if there was one car meant for driving it is this.
I totally understand your dilemma and peoples' opinions have been pretty interesting. In my view it's not an investment because you will get a better return sticking the £100k into the stock market and in this economic climate you'll see a faster and larger return. Surely that's better than seeing one of the best drivers' cars ever to be made sitting unused. Kind of reminds me of the 250gt in Ferris Beuler's Day Off :-)
This car is meant to be driven. If it rises in value then great - that's a bonus :-)
I totally understand your dilemma and peoples' opinions have been pretty interesting. In my view it's not an investment because you will get a better return sticking the £100k into the stock market and in this economic climate you'll see a faster and larger return. Surely that's better than seeing one of the best drivers' cars ever to be made sitting unused. Kind of reminds me of the 250gt in Ferris Beuler's Day Off :-)
This car is meant to be driven. If it rises in value then great - that's a bonus :-)
Edited by Skittles001 on Thursday 30th January 21:17
Skittles001 said:
In my view it's not an investment because you will get a better return sticking the £100k into the stock market and in this economic climate you'll see a faster and larger return.
For someone who works in the financial markets, I wished I'd listened to my heart and not my head when I decided to stuff away a pension pot pre the financial crisis. If I had listened to my heart, I would have enjoyed a CGT for all those years and be sitting on a modest paper profit today instead of watching my passive and soulless investments with zero usufruct falling off a cliff.I personally wouldn't counsel tucking money away in equities in the expectation of a surefire return in such a volatile environment and especially not on a car website.
Dave Sums said:
I apologise if being confrontational, probably having a bad day at the office!
Anyway just drive the bloody thing:-)
No offence taken – we are all entitled to our opinions and if I didn’t want to hear what other people thought I wouldn’t have asked the question!Anyway just drive the bloody thing:-)
It has helped me work through the dilemma and I now get to enjoy the car ‘guilt free’ because the PH Porsche community say I should!
It is a car I always wanted to own after having owned 997.1 GT3 Clubsport and a 997.2 GT3 Clubsport it just seems like the natural progression… and I still think it’s the best out there (for me).
I already have trips planned to the Le Mans 24hrs (for the triumphant return of Porsche to the race - hopefully) and the Le Mans Classic – so now I know which car I’ll be going in!
I bought my 993RS 10 years a go. It had 30k miles on the clock.
I've just sold it. It had 65K miles on the clock.
If I hadn't used it and it still had 30k miles on the clock it would probably have gone for 15% more.
So the enjoyment I got doing 35K miles all over UK and Europe, at Spa, Nurburgring etc etc arguably reduced my return over 10 years to 242% from 294%.
I reckon I got best of both worlds and hopefully so will the OP.
FWIW I think the big move has happened on 'cars'. Don't see them necessarily going down from here but with property, stock markets and interest rates edging higher I just can't see values racing ahead from here. Hope I'm wrong as I've got a few more!
Ps if I'd been smart 10 years ago I would have bought a 1972RS instead, which at the time were going for £35k and are now £400k. If 993RS follows same pattern, the time to buy will be 2025 and sell in 2035 and make 1100% If only it were all so simple....
I've just sold it. It had 65K miles on the clock.
If I hadn't used it and it still had 30k miles on the clock it would probably have gone for 15% more.
So the enjoyment I got doing 35K miles all over UK and Europe, at Spa, Nurburgring etc etc arguably reduced my return over 10 years to 242% from 294%.
I reckon I got best of both worlds and hopefully so will the OP.
FWIW I think the big move has happened on 'cars'. Don't see them necessarily going down from here but with property, stock markets and interest rates edging higher I just can't see values racing ahead from here. Hope I'm wrong as I've got a few more!
Ps if I'd been smart 10 years ago I would have bought a 1972RS instead, which at the time were going for £35k and are now £400k. If 993RS follows same pattern, the time to buy will be 2025 and sell in 2035 and make 1100% If only it were all so simple....
OP - I have a 2011 7.2RS in Grey/Gold (see profile pic). I was second owner at 5k miles.
It is a top spec, last of RHD 7.2RSs into UK and I bought well (end of yeat Dec purchase).
I drive it when I can and have done UK track days and the annual Spa/Ring trip...aim to go at least twice a year.
I didn't buy it as an investment but know I could still sell it today for more than I bought it. I reckon I can continue to put 2-3k miles on it a year and it will continue to hold its value, perhaps even appreciate. If it doesn't, that doesn't matter either, but I think you can enjoy the 7.2RS and not worry about depreciation...too much.
Alternatively if you are seriously thnking about long-term storage and speculation on your car with that mileage, do that and buy another for your weekly use and enjoyment and adopt the Dave Sums approach above to car ownership. The first car will end up paying for the second perhaps, and even on the second if you drive it and put the sort of mileage I do each year on it you will not lose much!
Enjoy...amazing cars.
PF
It is a top spec, last of RHD 7.2RSs into UK and I bought well (end of yeat Dec purchase).
I drive it when I can and have done UK track days and the annual Spa/Ring trip...aim to go at least twice a year.
I didn't buy it as an investment but know I could still sell it today for more than I bought it. I reckon I can continue to put 2-3k miles on it a year and it will continue to hold its value, perhaps even appreciate. If it doesn't, that doesn't matter either, but I think you can enjoy the 7.2RS and not worry about depreciation...too much.
Alternatively if you are seriously thnking about long-term storage and speculation on your car with that mileage, do that and buy another for your weekly use and enjoyment and adopt the Dave Sums approach above to car ownership. The first car will end up paying for the second perhaps, and even on the second if you drive it and put the sort of mileage I do each year on it you will not lose much!
Enjoy...amazing cars.
PF
pistolp said:
Superb looking car Porkafly
Thanks - I've been able to use her as intended and keep her looking A1. She's a real beauty, but slightly more subtle than the other colours. She now wears Tequipment Carbon Wing Mirrors which work very well and set the car off nicely.[url]
|http://thumbsnap.com/DQv7CCe2[PF
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