OMG! What's happened to used 997 prices? Be very afraid...

[Ian_UK1]

I was just having a browse through Autotrader (as you do) and thought I'd try to get a quick idea what my car might be worth.

OMFG! I'm still in shock as I'm typing this! What the hell's happened? When did the ar*e fall-out of the 997 prices? Since when have 2010 997S Gen-2s with under 20,000 miles on them only been worth just over £50k?

I really, really wish I hadn't bothered to look!

Thankfully, I bought my car used so I won't have to take all of it on the chin, but the depreciation has been absolutely, staggeringly epic. The car originally sold to its first owner for circa £84,000 (it's got a reasonably good spec) and it isn't even 2 years old until Jan 2012. And it's now worth early £50,000s (or even less as a trade-in)? That's £35,000+ depreciation in only 22 months. OUCH!

And the 991 isn't even out yet. What the f*** will my car (and similar ones) be worth in another month's time? £40-£45,000? 50% depreciation in 24 months? That's Vauxhall/Ford territory.

Edited by Ian_UK1 on Wednesday 23 November 17:29

[spyderman8]

Don't feel that you've been singled out - the same has happened to Boxster prices!

[Cavey]

It's quite interesting looking at dealers' stock lists and seeing the depreciation between their newest, dearest, 997, and 05 models with 50k plus miles, which are now in the mid £20k's. It's like the asset depreciation curve shown as part of the sales literature.

Must say though, 997 2S for mid-£20s is starting to look very tempting!

[SFO]

diving prices is happening to all cars .. no demand, and too much supply

[ROK]

i'm amazed at people who shed tears about auto depreciation. it's a fact of life. you know it's there. it's going to happen. there should be no surprise in it.

you also benefit from it as you are also negatively impacted by it. move on already. the car is an expense.

[mazza911]

Think this is a reflection of the overall second hand car Market. People are not buying anything full stop. Retail is struggling, and unfortunately there is a limited Market for Hugh performance cars. If you have to sell due to personal circumstances then people become a bit desperate, drop prices and it has a snow ball effect.

That said if you have a Porsche and don't need to sell it just go out and enjoy it and don't worry about the depreciation until you do need to sell!!

[gubbs997]

This time of year is always the worst time to sell in the run up to Christmas and even worse i imagine this year given the financial market crisis limiting buyers of big ticket items. Anyway first year depreciation is always hellish, when i bought mine 1 year old back in the good times of 2006 the first owner after 9000 miles took a £14k hit! about 20% if you count the cost of the options.

Since 2009 have given up worrying about the D word and just enjoy probably the best all round sports car on the planet. At current prices the early 997s are a real bargin.

[Munter]

I don't think there are many people looking for thirsty toys. And those that are can either pay to have them new, or can only really afford the price of a new Mondeo.

So it's got to be cheap enough to tempt Mondeo man up into high servicing and fuel costs.

[Fat Albert]

As I was reading this these two adverts popped into my Facebook page:

http://www.dovehousecars.com/vehicles/vehicle.asp?...

http://www.dovehousecars.com/vehicles/vehicle.asp?...

£1k apart, same age, alright the 996 is a 4S, but the 997 is high spec....which do you choose?

[kbf1981]

Christmas is a crap time of year. Look at this:

http://www.autotrader.co.uk/classified/advert/2011...

That's not even a year old.....and £119k is below book value....but it's winter and no one's looking to buy high powered sports cars now.

Prices will pick up again once it's sunnier.

[sundayjumper]

Fat Albert said:

...alright the 996 is a 4S with an awful interior, but the 997 is high spec....which do you choose?

I think I'd have to go for the 997.

[taaffy]

997 as the 4S interior is puke ......

[jonny996]

http://www.911virgin.com/porscheforsale/430/997C2T...

ticks all my boxes

[RudeDog]

Fat Albert said:

As I was reading this these two adverts popped into my Facebook page:

http://www.dovehousecars.com/vehicles/vehicle.asp?...

http://www.dovehousecars.com/vehicles/vehicle.asp?...

£1k apart, same age, alright the 996 is a 4S, but the 997 is high spec....which do you choose?

Surely you'd get a Cayman instead of either of those?

[Helen Goff]

with the price of insurance, petrol, road tax and the increasing number of tree hugera( and i'm not going to even mention the pressure from the "everyone should be equal regardless how hard they work" types). rising i think the prices of newish Porsches is only going to fall more, as more people think twice about owning a luxary motor.

[RiccardoG]

RudeDog said:

Fat Albert said:

As I was reading this these two adverts popped into my Facebook page:

http://www.dovehousecars.com/vehicles/vehicle.asp?...

http://www.dovehousecars.com/vehicles/vehicle.asp?...

£1k apart, same age, alright the 996 is a 4S, but the 997 is high spec....which do you choose?

Surely you'd get a Cayman instead of either of those?

Surely not.

I'd go for the 997.

Actually, that car is nearly exactly what I am looking for, will givem them a ring. Anyone dealt with them in the past or bought cars off them?

[mollytherocker]

I reckon that the 991 will follow suit too!

Unless they dont sell in high numbers?

MTR

[Dr S]

sundayjumper said:

Fat Albert said:

...alright the 996 is a 4S with an awful interior, but the 997 is high spec....which do you choose?

I think I'd have to go for the 997.

And the C4S is a bloody tip...

[taaffy]

mollytherocker said:

I

Unless they dont sell in high numbers?

MTR

And that ain't going to happen , the 991 is more than likely going to be a bigger seller than the 997....

[betternotbigger]

I think it'll be a bit slow to take off in the UK. I would say the same in the US as well but cars are so damned cheap to buy new there, so maybe not. Globally I predict a huge hit.