Is the bubble about to burst?

[jimmyslr]

Mario149 said:

And low and behold, this is mine up for sale at a rather optimistic price

If anyone wants more info on the car as they're interested, feel free to PM me.

That is interesting - thanks for posting details. Maybe the person who bought it just didn't get on with it? I doubt there's much money to be made in flipping it once warranty, margin for dealer etc etc taken out. I expect he's after his money back.

I do wonder why more don't sell privately. There was a nice white clubbie for sale earlier in the year. I spoke to the vendor but I couldn't get to him for a few days and there was a guy ahead of me in the queue who closed the deal. Sensibly priced, like yours, to get a sale. There's a healthy middle ground between trade bids and the ensuing trade retail (looks to me like 62 bid vs 80 initial asking, a few k more for CS). Private sale advertised at under 70 sounds a good spot. I know many worry about the hassle but I've sold my last 3 cars privately and each to the first person who came to see them.

Might put up a wanted ad for a 997.1 GT3 CS, ideally not white or black!

[roygarth]

jimmyslr said:

I doubt there's much money to be made in flipping it once warranty, margin for dealer etc etc taken out.

£10k profit after VAT, warranty etc is not too shabby...if he manages to sell it at £78950 (this assumes that the 'dealer' bought it straight off Mario)

[Buffalo Girls]

M

andymc said:

The car didnt hit reserve, £69100, I can't put the link as you won't be able to access it as it's passworded, if anyone wants the reg then PM me please, the spec was

PCM Satellite Navigation
Carbon Interior Package
Thicker 3-Spoke Steering Wheel
Heated Seats
Centre Console Painted Basalt Black
Fantastic car, great spec' and history, overage stock hence reluctant sale.

Basalt Black Metallic, Black Full Leather/Alcantara
PCM Satellite Navigation,Sports Seats,Heated Seats,Sport Steering Wheel With Thicker Leather,Carbon Interior Package,Instrument Dials In Guards Red,Guards Red Seat Belts,Rear Centre Console Painted In Basalt Black,Door Entry Guards In Carbon,Door Finishers In Leather,Alloy Wheels Painted In Black ,Sound Package Plus, Porsche VTS

Having 7 previous owners didn't help

[Mario149]

DELETED: Comment made by a member who's account has been deleted.

Yes, sorry, phone died just as I was trying to add the link!

[Mario149]

jimmyslr said:

Mario149 said:

And low and behold, this is mine up for sale at a rather optimistic price

If anyone wants more info on the car as they're interested, feel free to PM me.

That is interesting - thanks for posting details. Maybe the person who bought it just didn't get on with it? I doubt there's much money to be made in flipping it once warranty, margin for dealer etc etc taken out. I expect he's after his money back.

I presume the dealer and the buyer already had a deal worked out. The buyer said that his mate (the dealer now selling) would be picking up the car on his behalf (which they did) and checking it was as advertised. Fair play, I got a price that I was happy with which was more than trade, but it would have been nice if the car could have been used by the new owner rather than (trying to be) flipped immediately for a faintly ridiculous price


edit for spelling

Edited by Mario149 on Monday 30th November 09:44

[Mario149]

Yeah, I guess it's just a symptom of the price inflation we're seeing. If it had appeared for sale now with an extra 3k miles on from an epic autumn road trip as someone just needed to scratch a GT3 itch, it'd be fine.

That said, there may be a completely legit reason as to why it's for sale so soon, so really we shouldn't be jumping to conclusions without knowing the other side.

But, if it was a bit of scheming....the funny thing is that since I thought it was a real private sale, I held out for a higher price from the buyer due to the added risk of the transaction/possibility they'd claim the car wasn't as described etc etc. My backup was a 62K trade offer. If they'd been straight up and said it was for trade and conducted the purchase through the dealer, they'd have had it for less money

[andymc]

there is another one up for sale on sytner trade auction, it's an OPC that is offering it due to over stocking

GTSilver Metallic
· BlackLeather / GT3 Alcantara
· 19Inch GT3 Alloy Wheels
· PorscheCommunication Management (PCM)
· NavigationModule
· SportChrono Package Plus
· AdaptiveSports Seats
· Bi-XenonLighting System
· SoundPackage Plus
· TyrePressure Monitoring System (TPM)
· AutoDimming Interior & Exterior Mirrors
· RainSensor
· PorscheCrest Embossed On Head Restraints
· FloorMats
· WindscreenWith Grey Top Tint

[jimmyslr]

andymc said:

there is another one up for sale on sytner trade auction, it's an OPC that is offering it due to over stocking

GTSilver Metallic
· BlackLeather / GT3 Alcantara
· 19Inch GT3 Alloy Wheels
· PorscheCommunication Management (PCM)
· NavigationModule
· SportChrono Package Plus
· AdaptiveSports Seats
· Bi-XenonLighting System
· SoundPackage Plus
· TyrePressure Monitoring System (TPM)
· AutoDimming Interior & Exterior Mirrors
· RainSensor
· PorscheCrest Embossed On Head Restraints
· FloorMats
· WindscreenWith Grey Top Tint

I imagine this was the car for sale in Scotland at a hefty looking price, mid 80s from memory. It's not showing in "for sale" anymore. Will be interesting to see where it gets to at auction.

[andymc]

jimmyslr said:

andymc said:

there is another one up for sale on sytner trade auction, it's an OPC that is offering it due to over stocking

GTSilver Metallic
· BlackLeather / GT3 Alcantara
· 19Inch GT3 Alloy Wheels
· PorscheCommunication Management (PCM)
· NavigationModule
· SportChrono Package Plus
· AdaptiveSports Seats
· Bi-XenonLighting System
· SoundPackage Plus
· TyrePressure Monitoring System (TPM)
· AutoDimming Interior & Exterior Mirrors
· RainSensor
· PorscheCrest Embossed On Head Restraints
· FloorMats
· WindscreenWith Grey Top Tint

I imagine this was the car for sale in Scotland at a hefty looking price, mid 80s from memory. It's not showing in "for sale" anymore. Will be interesting to see where it gets to at auction.

yup its Porsche edinburgh, 2 owners from new and ready to retail, finished at reserve not met at 70k

[roygarth]

andymc said:

jimmyslr said:

andymc said:

there is another one up for sale on sytner trade auction, it's an OPC that is offering it due to over stocking

GTSilver Metallic
· BlackLeather / GT3 Alcantara
· 19Inch GT3 Alloy Wheels
· PorscheCommunication Management (PCM)
· NavigationModule
· SportChrono Package Plus
· AdaptiveSports Seats
· Bi-XenonLighting System
· SoundPackage Plus
· TyrePressure Monitoring System (TPM)
· AutoDimming Interior & Exterior Mirrors
· RainSensor
· PorscheCrest Embossed On Head Restraints
· FloorMats
· WindscreenWith Grey Top Tint

I imagine this was the car for sale in Scotland at a hefty looking price, mid 80s from memory. It's not showing in "for sale" anymore. Will be interesting to see where it gets to at auction.

yup its Porsche edinburgh, 2 owners from new and ready to retail, finished at reserve not met at 70k

What year and model is this car?

[andymc]

2007 im sure

[Steve Rance]

Great time of the year to buy a GT3

[Wilmslowboy]

Steve Rance said:

Great time of the year to buy a GT3

No doubt - always a great time to buy a GT3 - but not for bargain price reasons...everything seems still at record high prices ?

The only bargain I've seen of late was a 991 GT3 (CS- low miles, very high spec) at mid £130's - sold (technically twice) in 24 hours.

[SEE YA]

Crimp said:

I think its the real high end stuff which will come tumbling down.
That said I think you'd be silly to buy a Carrera 3.2 at 60-70k as some are advertised for, or chancers selling 930's at close to £100k.

+1 These cars will still need money spent on them.
These are old Porsche's after all, with old parts on the car.

You have to look at the bigger picture.

[Geesus]

anonymous said:

[redacted]

My thoughts too. Buying site unseen also.

Looked a lovely car Mario and from an interested private buyers perspective seemed a very good price for the mileage. £65,000 was it?
Seems like anything under £70,000 now for a 997 GT3 is quite a catch, that said, there's so much that has stagnated on Pistonheads for the just under £80,000 mark. Do dealers drop their prices to interested parties or does that only happen with people selling privately?

[Mario149]

Yup, £65K. I just can't see 7.1 GT3s with 30K miles on them going for more than low £70Ks from a dealer. Suspect that none of them want to be the first to flinch by advertising at a more sensible price and they're waiting to see how spring plays out - it's what I would do. In the meant time, they take on v limited owned outright stock and/or stick to SOR, keep advertised prices high but if a serious buyer turns up and offers them more sensible money, they probably drop the price accordingly or offer freebies like extra warranty, free next service etc. For me, the trade offers say it all. There's no way that you only bid £60-£62K if its history, condition and rev range activity checks out and you know you can shift it for £78K. You could do one of the fabled "£10K refreshes" (probably only £7K at trade prices) and still be able to shift it at a massive profit

[Geesus]

When were 997.1 GT3s at their lowest price point and how low did they get?

[GT3andy]

From memory around the autumn winter of 2012. I remember looking in detail then and most 997.1 GT3's were around the £50k region. One I particularly recall was £47k from Tom Hartley.

Ah those were the days

[v8ksn]

GT3andy said:

From memory around the autumn winter of 2012. I remember looking in detail then and most 997.1 GT3's were around the £50k region. One I particularly recall was £47k from Tom Hartley.

Ah those were the days

Thats right, they were massively undervalued (like most pork at the time)

I bought mine in early 2013, so glad I did too!

[Cheib]

Seems like there's "cram down" with GT3 prices. 991 GT3 prices softened when the RS came out which seemingly had a corresponding effect on 997 GT3 prices.

I think the market for people that want to spend somewhere between £70 and £140k on a track focused 911 and drive it on track is relatively fixed. Those are people that I would describe as the rock solid customer base and the people that underpin demand for these cars. The demand for these cars definitely expanded with speculators but I'd argue that whilst these are incredible cars with the way Porsche will be turning out 991.2 GT3's and GT3 RS's that's another few hundred cars the market will have to absorb (i.e. a lot of those cars will be sold to existing owners who will trade in their current cars) which I think means prices of these cars are capped at the moment.

I suppose what I am saying is to see a lot of new enthusiast buyers (who I think are the people that will buy 997 GT3's) I think prices have to come off a bit.... I don't think there are many people out there who can afford and want a 997 GT3 at today's prices who haven't already got one.