Is the Porsche 992 GT3 market going south?
Discussion
911hope said:
av185 said:
Cheapest OPC car is actually £208500. £60k over list price new.
Reason?
Ubiquitous Shark blue and non CS.
A couple of other cars around £210k having high relative miles or comfort spec.
Most proper spec and mileage cars still £235k+ and selling.
Not true....Reason?
Ubiquitous Shark blue and non CS.
A couple of other cars around £210k having high relative miles or comfort spec.
Most proper spec and mileage cars still £235k+ and selling.
Have a look at the one in Leeds at £199,990, with CS and anything else you could want. 2022 car.
This one will sell. All the high price cars just sit unsold.
Nothing above £210k has sold for weeks.
https://www.autotrader.co.uk/car-details/202210190...
BTW, by ubiquitous, do you mean popular?
Edited by 911hope on Friday 21st October 15:20
Edited by 911hope on Friday 21st October 15:35
I think underway for non blue chip stock
My high mile Scuderia has been for sale for 4 months without offers and that has invoices for 30k ish over the last 2 years and not that many miles (during those 2 years). Also priced 20k below the next cheapest car
Will take it back in spring if it doesn’t sell - love the car and selling it was never a fully committed decision
My high mile Scuderia has been for sale for 4 months without offers and that has invoices for 30k ish over the last 2 years and not that many miles (during those 2 years). Also priced 20k below the next cheapest car
Will take it back in spring if it doesn’t sell - love the car and selling it was never a fully committed decision
I'm not in the market (one can dream) but this one gets a full OOOF. Perfect spec?
https://www.autotrader.co.uk/car-details/202211021...
https://www.autotrader.co.uk/car-details/202211021...
nickfrog said:
time waster said:
People wanting to get out before the crash
When is the crash happening in your view? What kind of drop in price are we looking at you think?
Earthdweller said:
I suppose now that interest rates are rising you could put 200k in a high st bank and get £10k interest a year on it
Safer than a car, so I suppose those buying as investments might be tempted to look elsewhere
A used exotic at a premium over list is a crazy investment. GT3 prices have declined by about £30k in the last 4 months alone and they are not selling.Safer than a car, so I suppose those buying as investments might be tempted to look elsewhere
If you were to consider such an investment, you would want the market to bottom out first.
911hope said:
Earthdweller said:
I suppose now that interest rates are rising you could put 200k in a high st bank and get £10k interest a year on it
Safer than a car, so I suppose those buying as investments might be tempted to look elsewhere
A used exotic at a premium over list is a crazy investment. GT3 prices have declined by about £30k in the last 4 months alone and they are not selling.Safer than a car, so I suppose those buying as investments might be tempted to look elsewhere
If you were to consider such an investment, you would want the market to bottom out first.
The big question to be tested is there going to be the same market pool of buyers at 200k plus for a GT product that there was for a 140-160k for the 991.
I dont think we can assume that buyers have a bottomless pit of money or would consider a 200k plus car as affordable as a 150k one especially coupled with finance rates having doubled from sub 5 percent to near 10 percent.
The 458 market was a good parallel where cars were flying out the door at below 150 and sales grind to a halt when they got to 180-200. Speciales were selling well in the mid 200s and then struggle at 300 plus.
I imagine the pool of available buyers shrinks considerably once you get into these price brackets.
I dont think we can assume that buyers have a bottomless pit of money or would consider a 200k plus car as affordable as a 150k one especially coupled with finance rates having doubled from sub 5 percent to near 10 percent.
The 458 market was a good parallel where cars were flying out the door at below 150 and sales grind to a halt when they got to 180-200. Speciales were selling well in the mid 200s and then struggle at 300 plus.
I imagine the pool of available buyers shrinks considerably once you get into these price brackets.
MisterBigglesworth said:
The big question to be tested is there going to be the same market pool of buyers at 200k plus for a GT product that there was for a 140-160k for the 991.
I dont think we can assume that buyers have a bottomless pit of money or would consider a 200k plus car as affordable as a 150k one especially coupled with finance rates having doubled from sub 5 percent to near 10 percent.
The 458 market was a good parallel where cars were flying out the door at below 150 and sales grind to a halt when they got to 180-200. Speciales were selling well in the mid 200s and then struggle at 300 plus.
I imagine the pool of available buyers shrinks considerably once you get into these price brackets.
£200K car market impacted by finance costs!I dont think we can assume that buyers have a bottomless pit of money or would consider a 200k plus car as affordable as a 150k one especially coupled with finance rates having doubled from sub 5 percent to near 10 percent.
The 458 market was a good parallel where cars were flying out the door at below 150 and sales grind to a halt when they got to 180-200. Speciales were selling well in the mid 200s and then struggle at 300 plus.
I imagine the pool of available buyers shrinks considerably once you get into these price brackets.
If I didn't have £200K to hand, I would have thought I couldn't afford one.
The credit route adds £30K to £50K to the cost, between 36 and 48 month term, depending on PCP or HP! Guess what most people choose the more expensive PCP!!
Porsche APR is 10.8%
Zero sympathy from me. If you buy a car as an investment then it is the same as any financial decision...stock market, property investments and so on.
I buy cars new (GT3RS) , no premium and I keep them for a long time to drive them. I see the market go silly when they are new, and then slowly come to some kind of sense.
Of course, this is for car that have been driven for a few hundred or a few thousand miles, so buyers are not very interesting in experience the cars.
I drive mine as I please over many years, and of course this destroys value.
I understand the investment motivation but it has very little connection to experiencing the car doing what it was designed for. I am very happy for the market to tank so more enthusiasts can enjoy these car.
I buy cars new (GT3RS) , no premium and I keep them for a long time to drive them. I see the market go silly when they are new, and then slowly come to some kind of sense.
Of course, this is for car that have been driven for a few hundred or a few thousand miles, so buyers are not very interesting in experience the cars.
I drive mine as I please over many years, and of course this destroys value.
I understand the investment motivation but it has very little connection to experiencing the car doing what it was designed for. I am very happy for the market to tank so more enthusiasts can enjoy these car.
Now there are
4 cars advertised on AT at less than £200K (including a 2022 car)
total of 6 less than £205K
total of 18 less than £210K
Would be interesting to know what the few that sell are actually fetching.
The speculator motive for buying new must be dwindling with this price trajectory, and those buying used are probably waiting for the market to bottom out.
4 cars advertised on AT at less than £200K (including a 2022 car)
total of 6 less than £205K
total of 18 less than £210K
Would be interesting to know what the few that sell are actually fetching.
The speculator motive for buying new must be dwindling with this price trajectory, and those buying used are probably waiting for the market to bottom out.
911hope said:
Now there are
4 cars advertised on AT at less than £200K (including a 2022 car)
total of 6 less than £205K
total of 18 less than £210K
Would be interesting to know what the few that sell are actually fetching.
The speculator motive for buying new must be dwindling with this price trajectory, and those buying used are probably waiting for the market to bottom out.
How much were they new?4 cars advertised on AT at less than £200K (including a 2022 car)
total of 6 less than £205K
total of 18 less than £210K
Would be interesting to know what the few that sell are actually fetching.
The speculator motive for buying new must be dwindling with this price trajectory, and those buying used are probably waiting for the market to bottom out.
nickfrog said:
911hope said:
Now there are
4 cars advertised on AT at less than £200K (including a 2022 car)
total of 6 less than £205K
total of 18 less than £210K
Would be interesting to know what the few that sell are actually fetching.
The speculator motive for buying new must be dwindling with this price trajectory, and those buying used are probably waiting for the market to bottom out.
How much were they new?4 cars advertised on AT at less than £200K (including a 2022 car)
total of 6 less than £205K
total of 18 less than £210K
Would be interesting to know what the few that sell are actually fetching.
The speculator motive for buying new must be dwindling with this price trajectory, and those buying used are probably waiting for the market to bottom out.
Guessing they sell at £190K best case, take off dealer margin £20K (10%) and suddenly only £10K profit for the owner.
Compared to asking prices £40K higher 1 year ago......
911hope said:
With all the inevitable options, considered "vital", £135K +£25K = £160K.
Guessing they sell at £190K best case, take off dealer margin £20K (10%) and suddenly only £10K profit for the owner.
Compared to asking prices £40K higher 1 year ago......
I have no evidence that the curve is not identical in shape to the 991 GT3 depreciation curve at the time. It might well be. Guessing they sell at £190K best case, take off dealer margin £20K (10%) and suddenly only £10K profit for the owner.
Compared to asking prices £40K higher 1 year ago......
I have no idea what your point is as I thought you wanted a cooking 992 anyway.
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