Porsche GT/R/RS market - where is it headed?
Discussion
Just received this mailing, as many of you will have also.
http://us14.campaign-archive1.com/?u=558d0abe85da9...
Curious of course to see how the market pans out (my needs are modest - CR, Boxster Spyder or maybe a Cayman GT) but if the 996GT3 & the RS market keeps steaming ahead, I suppose safe to trade upwards as the tide rises for all things Porsche.
Guys and gals - what's your verdict on the newsletters assessment of the market?
http://us14.campaign-archive1.com/?u=558d0abe85da9...
Curious of course to see how the market pans out (my needs are modest - CR, Boxster Spyder or maybe a Cayman GT) but if the 996GT3 & the RS market keeps steaming ahead, I suppose safe to trade upwards as the tide rises for all things Porsche.
Guys and gals - what's your verdict on the newsletters assessment of the market?
Massive "talking their book" as they say in banking. Sure the Paris results were good but the Amelia Island results in January weren't Both 993 GT2's that were up for sale there failed to sell and results across the board weren't great. The strong result in Paris were for "Unicorn" cars too...993 Turbo Cab one of the rarest cars Porsche has ever made, 996 RS on delivery miles? Probably one of ten similar cars and that 959 is so special that Porsche borrowed it to display in their museum rather than using one of their own cars.
If you did selective analysis like that in banking these days you'd lose your job and the regulator wouldn't let you work in the industry again.
The flip side is that the Porsche's in Paris are Swiss cars so VAT would be payable in the EU so results even better in that context.
If you did selective analysis like that in banking these days you'd lose your job and the regulator wouldn't let you work in the industry again.
The flip side is that the Porsche's in Paris are Swiss cars so VAT would be payable in the EU so results even better in that context.
Trouble with this type of thread is, current owners will generally talk up the market and those wanting to enter the market will do the opposite.
The real question is why is there no law stipulating these fantastic machines must be fecking driven as intended and not asset managed to within an inch of their sad sheltered lives!
The real question is why is there no law stipulating these fantastic machines must be fecking driven as intended and not asset managed to within an inch of their sad sheltered lives!
I started getting these mailshots about three ago and first one I thought wow a seachange in GT cars, amazing. I think I even posted something on here about it.
Having now read three of them I totally agree with other posters here, it's just propaganda to fluff up the market by someone selling. I don't have a massive problem with it, but in this context it looks like they embarrass themselves a little bit.
Still an interesting read in terms of the facts though.
Having now read three of them I totally agree with other posters here, it's just propaganda to fluff up the market by someone selling. I don't have a massive problem with it, but in this context it looks like they embarrass themselves a little bit.
Still an interesting read in terms of the facts though.
CarreraLightweightRacing said:
Trouble with this type of thread is, current owners will generally talk up the market and those wanting to enter the market will do the opposite.
The real question is why is there no law stipulating these fantastic machines must be fecking driven as intended and not asset managed to within an inch of their sad sheltered lives!
There's a GT2 in Surrey that's being used on a regular basis as close to how nature intended as I'm able rest assured.The real question is why is there no law stipulating these fantastic machines must be fecking driven as intended and not asset managed to within an inch of their sad sheltered lives!
I don't think GT3 and RS are selling at the moment at these inflated prices. The two 7.1 RS's we looked at and made 2 sensible offers on are still up for sale as the owners wont budge on price. In the end I looked at what I could get for my money and bought 63 plate Gallardo LP560-2 for 10K less.
I simply believe that they don't deliver in the value for money stakes.
I simply believe that they don't deliver in the value for money stakes.
CarreraLightweightRacing said:
The real question is why is there no law stipulating these fantastic machines must be fecking driven as intended and not asset managed to within an inch of their sad sheltered lives!
Because there shouldn't be a diktat issued with respect to what people do with their personal possessions...? Their money, their choice....isaldiri said:
CarreraLightweightRacing said:
The real question is why is there no law stipulating these fantastic machines must be fecking driven as intended and not asset managed to within an inch of their sad sheltered lives!
Because there shouldn't be a diktat issued with respect to what people do with their personal possessions...? Their money, their choice....I think the 7 GT3 RS models are set for a slight dip. I tried to buy the most expensive 5000 mile 7.2 RS. It was initially up for £210k.
Has a look and it needed a spark plugs, rear arb bearings and new ceramics all round. Dealer dropped price to £175,000 after I offered £165,000. I wasn't prepared to offer more dealer so dropped advertised price to £179k and the car has just sold for £170k.
Also saw a lovely 21,000 mile 7 GT3 mk 2 comfort model that needed maybe a £5k spend to get her up to showroom condition. One owner car as per the RS. £105,000 offered which I thought was a super bid for a car with no warranty but that still didn't buy her. Expecting to see her readvertised in trade soon.
Has a look and it needed a spark plugs, rear arb bearings and new ceramics all round. Dealer dropped price to £175,000 after I offered £165,000. I wasn't prepared to offer more dealer so dropped advertised price to £179k and the car has just sold for £170k.
Also saw a lovely 21,000 mile 7 GT3 mk 2 comfort model that needed maybe a £5k spend to get her up to showroom condition. One owner car as per the RS. £105,000 offered which I thought was a super bid for a car with no warranty but that still didn't buy her. Expecting to see her readvertised in trade soon.
IMI A said:
Also saw a lovely 21,000 mile 7 GT3 mk 2 comfort model that needed maybe a £5k spend to get her up to showroom condition. One owner car as per the RS. £105,000 offered which I thought was a super bid for a car with no warranty but that still didn't buy her. Expecting to see her readvertised in trade soon.
I do think that was a pretty fair bid and some would say over market. Surely trade can't pay more than that, freshen the car and make a respectable margin? They need to retail it north of 115k which is toppy for comfort spec with normal miles I'd have thought. Let's see! What colour was it so that we know it when we see it?SPiston said:
Just received this mailing, as many of you will have also.
http://us14.campaign-archive1.com/?u=558d0abe85da9...
Curious of course to see how the market pans out (my needs are modest - CR, Boxster Spyder or maybe a Cayman GT) but if the 996GT3 & the RS market keeps steaming ahead, I suppose safe to trade upwards as the tide rises for all things Porsche.
Guys and gals - what's your verdict on the newsletters assessment of the market?
The short answer is asking prices will keep creeping up in the near future, prices sold for who knows? I sold a my 30K mile 7.1 GT3 in good condition to (what turned out to be) the trade about 16 months ago for £65K. I put it up at £75K initially when everything similar at the time was advertised from dealers at £80-85K and didn't even get a sniff. Asking prices may have crept up a bit but not by much. One suspects everything at dealers is still being bought in for similar-ish money to what I got, and everything else is on SOR. If I was after a 7.1 GT3 now at similar miles I'd be bidding £75K tops.http://us14.campaign-archive1.com/?u=558d0abe85da9...
Curious of course to see how the market pans out (my needs are modest - CR, Boxster Spyder or maybe a Cayman GT) but if the 996GT3 & the RS market keeps steaming ahead, I suppose safe to trade upwards as the tide rises for all things Porsche.
Guys and gals - what's your verdict on the newsletters assessment of the market?
Basically, I'm holding out for the next recession due petty much any time in the next 5 years when everything will come down to sensible prices again.
jimmyslr said:
IMI A said:
Also saw a lovely 21,000 mile 7 GT3 mk 2 comfort model that needed maybe a £5k spend to get her up to showroom condition. One owner car as per the RS. £105,000 offered which I thought was a super bid for a car with no warranty but that still didn't buy her. Expecting to see her readvertised in trade soon.
I do think that was a pretty fair bid and some would say over market. Surely trade can't pay more than that, freshen the car and make a respectable margin? They need to retail it north of 115k which is toppy for comfort spec with normal miles I'd have thought. Let's see! What colour was it so that we know it when we see it?woollyjoe said:
I'm not sure prices will ever come down for older / GT 911's simply because traders won't let it. It's like art and would take a dramatic market event to change this IMO.
I'm not so sure about this. 90% of the heavier stock like 991 GT3 RS and 997 GT3 RS seem to be on SOR. There's no exposure whatsoever to many of the dealers trying to retail these cars. The 7.2 RS I saw was on SOR. To drop £35,000 the minute I put in an offer shows current pricing is miles over the top. This was the lowest mileage car on the market albeit it had been driven to within an inch of its life. I think they'll dip in the short term with 7.2 RS and 7.1 RS eventually overtaking the 991 GT3 RS medium to long term.Also the comfort GT3 I saw vendor dropped price from £135k to £110k which would have bought the car. With hindsight I should have bought it.
IMI A said:
I think the 7 GT3 RS models are set for a slight dip. I tried to buy the most expensive 5000 mile 7.2 RS. It was initially up for £210k.
Has a look and it needed a spark plugs, rear arb bearings and new ceramics all round. Dealer dropped price to £175,000 after I offered £165,000. I wasn't prepared to offer more dealer so dropped advertised price to £179k and the car has just sold for £170k.
If it's the car I'm thinking of, it had issues.Has a look and it needed a spark plugs, rear arb bearings and new ceramics all round. Dealer dropped price to £175,000 after I offered £165,000. I wasn't prepared to offer more dealer so dropped advertised price to £179k and the car has just sold for £170k.
Robbo66 said:
If it's the car I'm thinking of, it had issues.
May well have done but I wouldn't know. My offer was subject to a full inspection at JZM which I don't think helped my bid. The bits that need doing I picked up via the dealer himself from looking at the last 111 point inspection which showed that ceramics were down to their wear indicators and rear arb bearing needed doing. OPC Cambridge quoted me £20,000 for all this work including a spark plug service. Would have probably just replaced with Surface Transform replacements via JZM if it passed. IMI A said:
Robbo66 said:
If it's the car I'm thinking of, it had issues.
May well have done but I wouldn't know. My offer was subject to a full inspection at JZM which I don't think helped my bid. The bits that need doing I picked up via the dealer himself from looking at the last 111 point inspection which showed that ceramics were down to their wear indicators and rear arb bearing needed doing. OPC Cambridge quoted me £20,000 for all this work including a spark plug service. Would have probably just replaced with Surface Transform replacements via JZM if it passed. Gassing Station | 911/Carrera GT | Top of Page | What's New | My Stuff