Porsche GT/R/RS market - where is it headed?

Porsche GT/R/RS market - where is it headed?

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Discussion

SPiston

Original Poster:

144 posts

192 months

Wednesday 15th February 2017
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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?


Cheib

23,110 posts

174 months

Thursday 16th February 2017
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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.

Robbo66

3,828 posts

232 months

Thursday 16th February 2017
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Just a blog posted for PR / SEO purposes as the majority of commercial enterprises also do.

Can't argue with the results, non matching numbers 73RS selling for €537k in Winter, it is what it is.

hornbaek

3,666 posts

234 months

Thursday 16th February 2017
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I agree with the above posters. They are simply talking up their own stock - blatant self promotion. Not very professional.

CarreraLightweightRacing

2,011 posts

208 months

Thursday 16th February 2017
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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!

supermono

7,368 posts

247 months

Thursday 16th February 2017
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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.

supermono

7,368 posts

247 months

Thursday 16th February 2017
quotequote all
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.

Never you mind

1,507 posts

111 months

Thursday 16th February 2017
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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.

isaldiri

18,402 posts

167 months

Thursday 16th February 2017
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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....

Robbo66

3,828 posts

232 months

Thursday 16th February 2017
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More are driven as intended than many realise. This notion that all are locked away is nonsense, all those that I know use their cars, me included.

CarreraLightweightRacing

2,011 posts

208 months

Thursday 16th February 2017
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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....
Glad you didn't take that too seriously isaldiri, perhaps I should add a little wink to clarify next time smile

IMI A

9,410 posts

200 months

Thursday 16th February 2017
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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.

jimmyslr

798 posts

272 months

Thursday 16th February 2017
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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?

Mario149

7,750 posts

177 months

Thursday 16th February 2017
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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.

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.

IMI A

9,410 posts

200 months

Thursday 16th February 2017
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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?
Vendor advertised her for £135k! Midnight blue with ceramics and debadged which I loved. Light stone chipping on front PU, front wings and bonnet but really showed up against white primer. Stone chips on rear quarter panels above stone guards. Needs a spark plug service. Drivers side seat bolster badly worn for 21,000 miles but again didn't bother me as I'd have thrown some folding buckets in - I actually didn't want a cage rattling around in the back. I'm assuming it was sold in the trade but who knows and I agree my bid was OTT but difficult to find a 1 owner car in sleeper spec. Don't get me wrong the car was lovely but just needed a bit of TLC. Also had Pirelli Corsa tyres all round which are crap. I would have swapped to Cup 2s so another grand there to spend. No warranty either which didn't bother me but £2000 to put that on, say £1000 for service and £500 to £1000 on paint depending on whether you get it done properly or a cheaper job - unless it goes for £120,000 can't see why a trader would get out of bed for it.

IMI A

9,410 posts

200 months

Thursday 16th February 2017
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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.

Steve Rance

5,435 posts

230 months

Thursday 16th February 2017
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The time to buy any GT car is between November and Febuary. They generally start to rise in March when the track season starts.

Robbo66

3,828 posts

232 months

Thursday 16th February 2017
quotequote all
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.

IMI A

9,410 posts

200 months

Thursday 16th February 2017
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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.

Robbo66

3,828 posts

232 months

Thursday 16th February 2017
quotequote all
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.
I nearly bought a grey with red, advertised incorrectly by an OPC. 5000 miles. Few good people pointed out that the car had serious warranty issues involving the CCCB, amongst other things. Dodged a bullet there. It's a minefield, where the unscrupulous will prey on the fickle and ill informed.