911 997Gen1 Prices bottoming out "FACT"now a bargain
Discussion
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....
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
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.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.
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
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
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.In the auction could the seller/friends be bidding to push up the price like on eBay and creating an artificial value!
DELETED: Comment made by a member who's account has been deleted.
Maybe year and aero Kit, as auctioned car is 2005 Dunno
,or the seller is just being very reasonable as he wants it sold asap.The model you have highlighted looks an extremely good buy and will probably not hang around but it is first year 997.orsche 911 [997] CARRERA COUPE 2d 21h 18 Bids £26,540 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
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
Edited by harleywilma on Saturday 3rd October 13:57
Edited by harleywilma on Saturday 3rd October 13:58
![](http://thumbsnap.com/sc/HJgGh4lA.jpg[/img]</a> <a href="http://thumbsnap.com/fmhN82xO" Target="_blank">[img]http://thumbsnap.com/sc/fmhN82xO.jpg)
YoungMD said:
So my thoughts on Gen 1 997 after two years of looking and buying one early this year. Yes i think now is the time to buy, generally they are getting to be 10 years old so falling out of porsche warranty so the market has a fair few available.
Last year a decent 60-70k miles S was £25k this year you can pick them up for £20k and lower than 50k miles probably £25k.
Now on to the issues, everybody goes on about the engine, specially on this forum due to a couple of people having had issues, but i think there is something in it and it is worth taking care but its not all the story. I have changed the oil for Millers and i will do the temp sensor and third radiator later this year. In my view there is definitely something in what Hartect say about overheating when driven hard then in traffic, especially as the oil pressure drops for economy.
There are other things to bear in mind which i did focus more on, 10 years old and although some things are very solid, some things are definitely not so much, exhaust bolts and nuts just rust away, the odd shock or two can go and generally there will be a few issues. On mine i have done them myself and found the car pretty okay to work on, but if you were paying for somebody to do it i guess it would mount up a bit.
BUT BUT i have to say for £20k a 2Cs is a bargain and they are very lovely cars, i have had 3.2 carrera's, and driven 964's and 993 for a while and i personally would choose the 997, its just a great balance between old and new. My friend bought a 997.2 for £35k scared due to the gen 1 engine issues, £10k after with suspension, exhaust etc etc on top of the £35k thats a v v expensive car, compared to a gen 1 starting at £20k its a far saving .............................
Very constructive view and more useful than some of the threads that I think are generally just written on the back of other comments made by the doomsters, and surely a hope for new buyers into this model.Last year a decent 60-70k miles S was £25k this year you can pick them up for £20k and lower than 50k miles probably £25k.
Now on to the issues, everybody goes on about the engine, specially on this forum due to a couple of people having had issues, but i think there is something in it and it is worth taking care but its not all the story. I have changed the oil for Millers and i will do the temp sensor and third radiator later this year. In my view there is definitely something in what Hartect say about overheating when driven hard then in traffic, especially as the oil pressure drops for economy.
There are other things to bear in mind which i did focus more on, 10 years old and although some things are very solid, some things are definitely not so much, exhaust bolts and nuts just rust away, the odd shock or two can go and generally there will be a few issues. On mine i have done them myself and found the car pretty okay to work on, but if you were paying for somebody to do it i guess it would mount up a bit.
BUT BUT i have to say for £20k a 2Cs is a bargain and they are very lovely cars, i have had 3.2 carrera's, and driven 964's and 993 for a while and i personally would choose the 997, its just a great balance between old and new. My friend bought a 997.2 for £35k scared due to the gen 1 engine issues, £10k after with suspension, exhaust etc etc on top of the £35k thats a v v expensive car, compared to a gen 1 starting at £20k its a far saving .............................
che 911 [997] CARRERA COUPE Finished 24 Bids £27,390 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
So there you have it ,Sold and gone
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
So there you have it ,Sold and gone
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