911 997Gen1 Prices bottoming out "FACT"now a bargain

911 997Gen1 Prices bottoming out "FACT"now a bargain

Author
Discussion

harleywilma

Original Poster:

517 posts

242 months

Friday 2nd October 2015
quotequote all
I have a little inside knowledge in the motor trade!, there is a very well known franchise that auction there px cars.
I have therefore been watching for a few months now at various 997's and the money they make,I have been more than surprised at how much these things are making relative to there book trade prices.
Currently being auctioned is what is being described as a car with zero prep and ready to retail 997,c2s gen1 tip 2005
48,000mls in silver 4 owners fpsh aero cup styling with ocean blue leather ,The car has 8 bids and is currently at £25,300 with the reserve met and 3 days to go, I will post the final figure at close of auction but expect that this figure will rise slightly indicating that the prices are holding well with alot of confident dealers wanting these models, So all the doomsters and nay sayers out there the proof is in the pudding....

Edited by harleywilma on Friday 2nd October 19:03

Trev450

6,314 posts

171 months

Friday 2nd October 2015
quotequote all
harleywilma said:
So all the doomsters and nay sayers out there the price is in the pudding....
I think you mean 'the proof is in the pudding' smile

Stunters

575 posts

193 months

Friday 2nd October 2015
quotequote all
It's a Tiptronic, so maybe the car is the pudding... wink

harleywilma

Original Poster:

517 posts

242 months

Friday 2nd October 2015
quotequote all
Stunters said:
It's a Tiptronic, so maybe the car is the pudding... wink
There is a good demand for these cars Tiptronic or manual..proof is in the bidding.

harleywilma

Original Poster:

517 posts

242 months

Friday 2nd October 2015
quotequote all
Trev450 said:
I think you mean 'the proof is in the pudding' smile
I stand corrected.

Magic919

14,126 posts

200 months

Friday 2nd October 2015
quotequote all
I prefer 'The proof of the pudding is in the eating'.

When did 'a lot' become a single word?

Kaizen

24 posts

173 months

Friday 2nd October 2015
quotequote all
Forgive me but in my opinion this doesn't tell us anything useful about the extent to which we have a bubble and what (and when) might happen.

Yes there are people, in various roles in the market, who are prepared to pay current prices and push prices further up; people who have a positive view of where prices will go.

However this is always the case in a bubble. In fact it is always the case in a rising market. Indeed it is often the case in a falling market.

The causality of a bubble is found in the market price movement being dominated by person whose motivation is purely or close to purely the belief that the price can only go one way. Other supporting factors include leverage, i.e. the ready availability of financing for the purchase of the commodity.

The causality of a bursting bubble is found in the market price being challenged in a shock, often driven by an event extrinsic to the market in question - followed by the previously dominant buyers becoming sellers motivated by the fear of losses (i.e. contrary to their motivation for buying) and selling in order to protect themselves from further down price adjustment. Other supporting factors include selling in order to be able to pay back borrowed money.

And typically, just before a bubble bursts, one usually sees the bull sticking to their story and the bears sticking to theirs. But the bubble bursts - definitionally - when people change their positions. If they do, the bubble bursts. If not, not.

So the question is will we get to the point where something starts a chain reaction featuring a shift from a market that is dominated by seeking acquire the asset - to one where people exhibit a strong cash preference.

harleywilma

Original Poster:

517 posts

242 months

Friday 2nd October 2015
quotequote all
Magic919 said:
I prefer 'The proof of the pudding is in the eating'.

When did 'a lot' become a single word?
Legitimate Contraction.rolleyes

harleywilma

Original Poster:

517 posts

242 months

Friday 2nd October 2015
quotequote all
Kaizen said:
Forgive me but in my opinion this doesn't tell us anything useful about the extent to which we have a bubble and what (and when) might happen.

Yes there are people, in various roles in the market, who are prepared to pay current prices and push prices further up; people who have a positive view of where prices will go.

However this is always the case in a bubble. In fact it is always the case in a rising market. Indeed it is often the case in a falling market.

The causality of a bubble is found in the market price movement being dominated by person whose motivation is purely or close to purely the belief that the price can only go one way. Other supporting factors include leverage, i.e. the ready availability of financing for the purchase of the commodity.

The causality of a bursting bubble is found in the market price being challenged in a shock, often driven by an event extrinsic to the market in question - followed by the previously dominant buyers becoming sellers motivated by the fear of losses (i.e. contrary to their motivation for buying) and selling in order to protect themselves from further down price adjustment. Other supporting factors include selling in order to be able to pay back borrowed money.

And typically, just before a bubble bursts, one usually sees the bull sticking to their story and the bears sticking to theirs. But the bubble bursts - definitionally - when people change their positions. If they do, the bubble bursts. If not, not.

So the question is will we get to the point where something starts a chain reaction featuring a shift from a market that is dominated by seeking acquire the asset - to one where people exhibit a strong cash preference.
This thread is not about a bubble, This is a real world auction for registered car dealers who do not get overly bothered about the issues that plague so many posters on here,They are buying because that is what they do for a living and therefore the main bidders will have had years of experience of buying and selling this type of car. My point is that it appears that considering the age and spec of this car this along with many others, are holding well and in some cases increasing slightly.

harleywilma

Original Poster:

517 posts

242 months

Friday 2nd October 2015
quotequote all
DELETED: Comment made by a member who's account has been deleted.
Tip Matters Not.

harleywilma

Original Poster:

517 posts

242 months

Friday 2nd October 2015
quotequote all
3d 15h 8 Bids £25,300 S 2dr Tiptronic S RESERVE MET DOR: 05/Oct/2005, FJ55GTZ Distance: 208 miles
Arctic Silver
Petrol
Automatic
48,856 miles
3800 cc
Absolutely stunning!
Porsche & Specialist Service History
Porsche Aero Cup Body Styling
Nav/Phone/Rear Wiper/BOSE/Sunroof
ZERO PREP - READY TO RETAIL


13m

26,271 posts

221 months

Friday 2nd October 2015
quotequote all
harleywilma said:
I have a little inside knowledge in the motor trade!, there is a very well known franchise that auction there px cars.
I have therefore been watching for a few months now at various 997's and the money they make,I have been more than surprised at how much these things are making relative to there book trade prices.
Currently being auctioned is what is being described as a car with zero prep and ready to retail 997,c2s gen1 tip 2005
48,000mls in silver 4 owners fpsh aero cup styling with ocean blue leather ,The car has 8 bids and is currently at £25,300 with the reserve met and 3 days to go, I will post the final figure at close of auction but expect that this figure will rise slightly indicating that the prices are holding well with alot of confident dealers wanting these models, So all the doomsters and nay sayers out there the proof is in the pudding....

Edited by harleywilma on Friday 2nd October 19:03
Yeah but it's a Gen 1. So it will splode and kill the owner and extended family. FACT.



harleywilma

Original Poster:

517 posts

242 months

Friday 2nd October 2015
quotequote all
13m said:
Yeah but it's a Gen 1. So it will splode and kill the owner and extended family. FACT.
"Oh"has one actually done that???

itsybitsy

5,188 posts

184 months

Friday 2nd October 2015
quotequote all
One word for someone who pays that kind of money for that car " Mug"
In the auction could the seller/friends be bidding to push up the price like on eBay and creating an artificial value!

itsybitsy

5,188 posts

184 months

Friday 2nd October 2015
quotequote all
13m said:
Yeah but it's a Gen 1. So it will splode and kill the owner and extended family. FACT.
Being a pre March 2006 ims upgrade most likely break down on the way home after the IMS gives up and spreads debris throughout the engine causing £10k of damage!
Should have paid a little extra and got a gen2

harleywilma

Original Poster:

517 posts

242 months

Saturday 3rd October 2015
quotequote all
itsybitsy said:
One word for someone who pays that kind of money for that car " Mug"
In the auction could the seller/friends be bidding to push up the price like on eBay and creating an artificial value!
Like I said this is a proper auction its not eBay,the reserve is met so its not had to be to bid up against the chandeliers,This car is being sold just like so many others have.I have travelled the country to many physical auctions and have witnessed the same thing time after time.

Trev450

6,314 posts

171 months

Saturday 3rd October 2015
quotequote all
It would be a brave or foolish man who buys an M96/97 from auction without the opportunity to drive it or examine the engine.

Magic919

14,126 posts

200 months

Saturday 3rd October 2015
quotequote all
I'm sure it'll take more than one thread to sway the market.

ras62

1,086 posts

155 months

Saturday 3rd October 2015
quotequote all
^^This

Warranty will not cover all the consumables common on these cars. Corroded brake discs, water and AC radiators, water and AC pipes leaks, rusty tandem pump, worn out water pump, rusty non existent exhaust brakets, drop links, worn suspension, broken springs....just to name a few. Buy unseen at an auction?

Lox

632 posts

280 months

Saturday 3rd October 2015
quotequote all
harleywilma said:
Magic919 said:
I prefer 'The proof of the pudding is in the eating'.

When did 'a lot' become a single word?
Legitimate Contraction.rolleyes
It's as legitimate as 'alittle'.