Is the Porsche 992 GT3 market going south?
Discussion
av185 said:
'Risen' above average mileage may well have something to do with the price. In fact a whole c 2k miles over.
As would the steel brakes of course.
Still way over list.
Similar explanations were offered, when the cheapest car was £210k, or £200k or £190k ...etc...as the prices slipped.As would the steel brakes of course.
Still way over list.
This YouTuber covers the current status and history of 911 values pretty well. Although it makes sense, the number of 992 GT3s available surprised me.
https://youtu.be/Q8T4tq8Sc4Q?si=KY0Y3C_70mirBcvH
Although I don’t welcome the economic challenges people and businesses are facing, the return of car depreciation is a good thing for us enthusiasts! I say that as someone who’s purchased a new car in 2023.
https://youtu.be/Q8T4tq8Sc4Q?si=KY0Y3C_70mirBcvH
Although I don’t welcome the economic challenges people and businesses are facing, the return of car depreciation is a good thing for us enthusiasts! I say that as someone who’s purchased a new car in 2023.
av185 said:
But no cars under original list ££ yet.....even with increased age owners and mileage......
Market trend is clearly down, so it may get there yet.Remember options cost, dealer margin and interest payments....so first owners just getting out even.
Second owners who paid a premium are under water
911hope said:
av185 said:
But no cars under original list ££ yet.....even with increased age owners and mileage......
Market trend is clearly down, so it may get there yet.Remember options cost, dealer margin and interest payments....so first owners just getting out even.
Second owners who paid a premium are under water
Many first owner cars were bought at below £130k basic price before the recent huge price rises so even after c two and a half years use and increasing mileage these cars are still selling at good premiums ££ and first owners will be very happy.
av185 said:
911hope said:
av185 said:
But no cars under original list ££ yet.....even with increased age owners and mileage......
Market trend is clearly down, so it may get there yet.Remember options cost, dealer margin and interest payments....so first owners just getting out even.
Second owners who paid a premium are under water
Many first owner cars were bought at below £130k basic price before the recent huge price rises so even after c two and a half years use and increasing mileage these cars are still selling at good premiums ££ and first owners will be very happy.
nickfrog said:
911hope said:
Market trend is clearly down,
For all we know the trend is no different to what the appreciation/depreciation curve was for the 991 GT3 at the same stage of its life cycle.Have you got a 911 yet, more importantly?
Chamon_Lee said:
av185 said:
911hope said:
av185 said:
But no cars under original list ££ yet.....even with increased age owners and mileage......
Market trend is clearly down, so it may get there yet.Remember options cost, dealer margin and interest payments....so first owners just getting out even.
Second owners who paid a premium are under water
Many first owner cars were bought at below £130k basic price before the recent huge price rises so even after c two and a half years use and increasing mileage these cars are still selling at good premiums ££ and first owners will be very happy.
Gregmitchell said:
nickfrog said:
911hope said:
Market trend is clearly down,
For all we know the trend is no different to what the appreciation/depreciation curve was for the 991 GT3 at the same stage of its life cycle.Have you got a 911 yet, more importantly?
Chamon_Lee said:
av185 said:
911hope said:
av185 said:
But no cars under original list ££ yet.....even with increased age owners and mileage......
Market trend is clearly down, so it may get there yet.Remember options cost, dealer margin and interest payments....so first owners just getting out even.
Second owners who paid a premium are under water
Many first owner cars were bought at below £130k basic price before the recent huge price rises so even after c two and a half years use and increasing mileage these cars are still selling at good premiums ££ and first owners will be very happy.
nickfrog said:
For all we know the trend is no different to what the appreciation/depreciation curve was for the 991 GT3 at the same stage of its life cycle.
Have you got a 911 yet, more importantly?
You have made the same comments on lots of occasions, but it is not relevant.Have you got a 911 yet, more importantly?
When comparing a 1 year old car in the past to a 1 year old car now, the price fall is NOT depreciation. This indicates a market value reduction of like for like items.
Many people on pistonheads discussion throw in the depreciation when it is not appropriate.
911hope said:
nickfrog said:
For all we know the trend is no different to what the appreciation/depreciation curve was for the 991 GT3 at the same stage of its life cycle.
Have you got a 911 yet, more importantly?
You have made the same comments on lots of occasions, but it is not relevant.Have you got a 911 yet, more importantly?
When comparing a 1 year old car in the past to a 1 year old car now, the price fall is NOT depreciation. This indicates a market value reduction of like for like items.
Many people on pistonheads discussion throw in the depreciation when it is not appropriate.
I think it’s fairer to just say depreciation is high on these cars right now.
I recall a chap in late 90s early 00s who took punts on new cars to try flip them.
I think once upon a time he ended up with a lot of the then ‘new’ Beetles which hadn’t worked out.
Depreciation does include hype, demand, sentiment, etc all combined.
It has to otherwise what is left when you strip too much out?
No car ever sells in a vacuum of prevailing sentiments, policy changes, blah blah.
Just look at EV sales now, and impacts.
The £40k+ price on new car tax.
The old 2001 change over on RFD.
The post 2020 (?) change on RFD now away from co2 again and a single upfront payment?
And that’s just RFD. Never mind fuel costs, insurances (RR now taking a hit etc)
What is ‘pure’ depreciation? And is it even important to know what it is?
911hope said:
nickfrog said:
For all we know the trend is no different to what the appreciation/depreciation curve was for the 991 GT3 at the same stage of its life cycle.
Have you got a 911 yet, more importantly?
You have made the same comments on lots of occasions, but it is not relevant.Have you got a 911 yet, more importantly?
When comparing a 1 year old car in the past to a 1 year old car now, the price fall is NOT depreciation. This indicates a market value reduction of like for like items.
Many people on pistonheads discussion throw in the depreciation when it is not appropriate.
Just call it "inflation adjusted value" if you prefer. And then compare 991 and 992 GT3s values at the same age/mileage. For all we know the curve is the same. Which would indicate that what's happening now had happened then and the trend is inherent to the model, rather than a result of cyclical factors. Or not at all. Or a combination of both., who knows?
It's utterly relevant as it's the only way to isolate at least one variable, hence me repeating the suggestion.
nickfrog said:
The trend in market value indicates the level of appreciation or depreciation of the asset.
Just call it "inflation adjusted value" if you prefer. And then compare 991 and 992 GT3s values at the same age/mileage. For all we know the curve is the same. Which would indicate that what's happening now had happened then and the trend is inherent to the model, rather than a result of cyclical factors. Or not at all. Or a combination of both., who knows?
It's utterly relevant as it's the only way to isolate at least one variable, hence me repeating the suggestion.
Depreciation is the loss of value of an item as it ages. It is that simple. It is relevant for goods with limited usable life, or become obsolete.Just call it "inflation adjusted value" if you prefer. And then compare 991 and 992 GT3s values at the same age/mileage. For all we know the curve is the same. Which would indicate that what's happening now had happened then and the trend is inherent to the model, rather than a result of cyclical factors. Or not at all. Or a combination of both., who knows?
It's utterly relevant as it's the only way to isolate at least one variable, hence me repeating the suggestion.
If you compare like for like items of the same age at different points in time, the you get an understanding of trend of the value of such items. If lower a year later, then the market is falling.
Now saying that some other types of items declined in the past does not make this observation of market decline incorrect.
Finally,to illustrate, the thread started some 18 months ago, when 1yo cars were being advertised at a minimum £210k. Now 1yo cars are being advertised at a minimum £180k.
That is a market fall. Interesting is 2yo cars are not much cheaper, so depreciation isn't evident.
911hope said:
Finally,to illustrate, the thread started some 18 months ago, when 1yo cars were being advertised at a minimum £210k. Now 1yo cars are being advertised at a minimum £180k.
And for all you know the same thing happened to the 991 GT3 at the same point of its life cycle, maybe it's inherent to that car irrespective of cyclical variables. Or not. It would be interesting to find out and I am surprised you're not looking into it as it's a subject that interests you. It would be very relevant.nickfrog said:
911hope said:
Finally,to illustrate, the thread started some 18 months ago, when 1yo cars were being advertised at a minimum £210k. Now 1yo cars are being advertised at a minimum £180k.
And for all you know the same thing happened to the 991 GT3 at the same point of its life cycle, maybe it's inherent to that car irrespective of cyclical variables. Or not. It would be interesting to find out and I am surprised you're not looking into it as it's a subject that interests you. It would be very relevant.Gassing Station | Car Buying | Top of Page | What's New | My Stuff