Is the Porsche 992 GT3 market going south?
Discussion
Following the asking prices for GT3s, as the market dynamic interests me.
Everyone knows that used cars sell for a big premium over new, as it is the only way to get one.
A month ago most <1yo car would be advertised at about £240k, by dealers. Now it is £220k...~8% drop in a month!
So it the market starting to slide, for even this solid performer?
Everyone knows that used cars sell for a big premium over new, as it is the only way to get one.
A month ago most <1yo car would be advertised at about £240k, by dealers. Now it is £220k...~8% drop in a month!
So it the market starting to slide, for even this solid performer?
911hope said:
Following the asking prices for GT3s, as the market dynamic interests me.
Everyone knows that used cars sell for a big premium over new, as it is the only way to get one.
A month ago most <1yo car would be advertised at about £240k, by dealers. Now it is £220k...~8% drop in a month!
So it the market starting to slide, for even this solid performer?
The prices were always going to soften after the initial hype. Porsche has moved on, the GT4 RS is here and it’s big brother is on its way. Some GT3’s are probably being chopped in because the OPC’s demand their chosen clients do that before they can get an RS, so supply is going up.Everyone knows that used cars sell for a big premium over new, as it is the only way to get one.
A month ago most <1yo car would be advertised at about £240k, by dealers. Now it is £220k...~8% drop in a month!
So it the market starting to slide, for even this solid performer?
The economy will play its part too, interest rates are higher and will go higher still, so the vast majority of cars sold for overs will be more expensive to own. And anyone paying overs at the moment is probably going to see depreciation that GT3’s haven’t seen in a long time.
I think the days of cheap motoring in cars which actually aren’t that rare (supply isn’t really an issue, the 992 GT3 will have larger production numbers than any previous generation.) are probably over.
BorkBorkBork said:
The prices were always going to soften after the initial hype. Porsche has moved on, the GT4 RS is here and it’s big brother is on its way. Some GT3’s are probably being chopped in because the OPC’s demand their chosen clients do that before they can get an RS, so supply is going up.
The economy will play its part too, interest rates are higher and will go higher still, so the vast majority of cars sold for overs will be more expensive to own. And anyone paying overs at the moment is probably going to see depreciation that GT3’s haven’t seen in a long time.
I think the days of cheap motoring in cars which actually aren’t that rare (supply isn’t really an issue, the 992 GT3 will have larger production numbers than any previous generation.) are probably over.
So buying a new one offers a profit opportunity.The economy will play its part too, interest rates are higher and will go higher still, so the vast majority of cars sold for overs will be more expensive to own. And anyone paying overs at the moment is probably going to see depreciation that GT3’s haven’t seen in a long time.
I think the days of cheap motoring in cars which actually aren’t that rare (supply isn’t really an issue, the 992 GT3 will have larger production numbers than any previous generation.) are probably over.
Buying a used one will cost about £20K/year in depreciation.....
Probably about £10/mile in typical use.
911hope said:
Following the asking prices for GT3s, as the market dynamic interests me.
Everyone knows that used cars sell for a big premium over new, as it is the only way to get one.
A month ago most <1yo car would be advertised at about £240k, by dealers. Now it is £220k...~8% drop in a month!
So it the market starting to slide, for even this solid performer?
A few now priced down at £220k or less now!Everyone knows that used cars sell for a big premium over new, as it is the only way to get one.
A month ago most <1yo car would be advertised at about £240k, by dealers. Now it is £220k...~8% drop in a month!
So it the market starting to slide, for even this solid performer?
From what I’m seeing the 911 market in general is starting to soften. There are a couple of specialist dealers I tend to follow out of idle curiosity and I’ve noticed prices reducing over the last few weeks. A manual 992 S that I sort of have an eye on has slipped from £119,500 to just over £113k since mid August.
911hope said:
911hope said:
Following the asking prices for GT3s, as the market dynamic interests me.
Everyone knows that used cars sell for a big premium over new, as it is the only way to get one.
A month ago most <1yo car would be advertised at about £240k, by dealers. Now it is £220k...~8% drop in a month!
So it the market starting to slide, for even this solid performer?
A few now priced down at £220k or less now!Everyone knows that used cars sell for a big premium over new, as it is the only way to get one.
A month ago most <1yo car would be advertised at about £240k, by dealers. Now it is £220k...~8% drop in a month!
So it the market starting to slide, for even this solid performer?
As ever the best spec cars sell at the best prices.
Slight easing of prices is expected as usual approaching winter. No big deal it happens every year with GT Porsches.
911 prices look to be softening to me and there are a fair number of cars that have been unsold for months.
Having said that, they’re still up 15-20% on late 2020 / early 2021.
I don’t think they’ll get back to the level they were then (my view is based mostly on 991.2 models, I’m not a massive fan of the 992).
Having said that, they’re still up 15-20% on late 2020 / early 2021.
I don’t think they’ll get back to the level they were then (my view is based mostly on 991.2 models, I’m not a massive fan of the 992).
av185 said:
Folks always quote the cheapest worst spec cars as representative of the market overall.
As ever the best spec cars sell at the best prices.
Slight easing of prices is expected as usual approaching winter. No big deal it happens every year with GT Porsches.
Cheapest is at £211k, with 5k miles. Ceramics, carbon roof, Bose, lift, buckets, and various other bits. What's wrong with that spec?As ever the best spec cars sell at the best prices.
Slight easing of prices is expected as usual approaching winter. No big deal it happens every year with GT Porsches.
The most expensive is £260k, which is a year and 3k miles newer and has added scaffolding in the cabin.
There are lots with similar spec at 220k to 230k, so the highest priced one probably won't sell at that price.
911hope said:
av185 said:
Folks always quote the cheapest worst spec cars as representative of the market overall.
As ever the best spec cars sell at the best prices.
Slight easing of prices is expected as usual approaching winter. No big deal it happens every year with GT Porsches.
Cheapest is at £211k, with 5k miles. Ceramics, carbon roof, Bose, lift, buckets, and various other bits. What's wrong with that spec?As ever the best spec cars sell at the best prices.
Slight easing of prices is expected as usual approaching winter. No big deal it happens every year with GT Porsches.
The most expensive is £260k, which is a year and 3k miles newer and has added scaffolding in the cabin.
There are lots with similar spec at 220k to 230k, so the highest priced one probably won't sell at that price.
911hope said:
av185 said:
Unsurprisingly the cheapest car at £211k is non CS.
They are several available with CS for about £220k and for £215k.Out of interest how much do you believe Clubsport package should add to the value of a used 992 RS3?
Markets obviously untested as yet on these but some anticipate £460k plus for the first flipped CS cars. Non CS clearly alot less.
911hope said:
av185 said:
Unsurprisingly the cheapest car at £211k is non CS.
They are several available with CS for about £220k and for £215k.Out of interest how much do you believe Clubsport package should add to the value of a used 992 RS3?
Non CS outnumber the CS cars by about 10%
Non CS asking prices range from £210K to £230K (mean £220k)
CS cars asking prices range from £215 to £240 (mean £228k)
nickfrog said:
911hope said:
Following the asking prices for GT3s, as the market dynamic interests me.
More interestingly, when are you hoping to buy one?If I could buy a new one, I would flip it the next week.
Just like the majority of owners do.
911hope said:
nickfrog said:
911hope said:
Following the asking prices for GT3s, as the market dynamic interests me.
More interestingly, when are you hoping to buy one?If I could buy a new one, I would flip it the next week.
Just like the majority of owners do.
Edible Roadkill said:
I think it’s safe to say going forward they’ll be less people queuing up to spend £100k over list on a used car.
I’ve noticed the decline on a specialist car I own. There’s still a few buyers but the volume of sellers has increased massively, some prepared to ask 2019 money.
Some degree of profit taking, while it is there.I’ve noticed the decline on a specialist car I own. There’s still a few buyers but the volume of sellers has increased massively, some prepared to ask 2019 money.
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