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

[Ian_UK1]

mft said:

It'll be interesting to see how much your 'bargain' is worth in 6 months time. With prices the way they look, and the 991 just about to appear, can you really imagine it not continuing to drop £1k+ per month?

If the values drop another £5000 in the wake of the 991's release then my car, from new, will have lost half its value in 2 years at a rate of about £2000 per month. As was said earlier in the thread, the point I was making wasn't that depreciation isn't expected, it's that it has gone from relatively gentle to truly epic where the Carrera/S is concerned. One of the justifications (if that's the right word) for buying Porsche - other than the fantastic drive - was always that depreciation wasn't as severe as other cars. Now it's just as bad (if not worse) and still getting steeper.

Where does it all go from here? Will prices recover or is this the beginning of the permanent downward spiral for performance cars in general (as is being discussed in another thread)? In the absence of a crystal ball, there are, of course, no real answers, but I'd be interested in people's views.