991 GT3 Mk1

[nwates]

Any views on price from here cars dropping quickly with the new GT3 .
Further to fall or get in now ?

[WindyM]

Who knows?
IMO 991.1s are coming under pressure - simple economics - with around 50 for sale on PH and new ones coming on as 991.2s are being delivered.
I'm in the market for a 997 but for all the reasons that have been done to death on here, I don't suppose they will 'correct' by as much.
What's your view?

[sidicks]

nwates said:

Any views on price from here cars dropping quickly with the new GT3 .
Further to fall or get in now ?

I'd expect prices to fall gradually as you'd expect from any car as they get older.

However (lack of) supply and (high) demand for these cars (particularly the GT3.2) will help support prices and of course, the fact that the gen 1 cars now have a 10-year engine warranty will support (or even increase?) prices in the short term.

[nwates]

WindyM said:

Who knows?
IMO 991.1s are coming under pressure - simple economics - with around 50 for sale on PH and new ones coming on as 991.2s are being delivered.
I'm in the market for a 997 but for all the reasons that have been done to death on here, I don't suppose they will 'correct' by as much.
What's your view?

997 GT3 also plenty of supply think they go a bit lower yet

[av185]

The gen 2 GT3 expected price parity with the 991.1 RS GT3 of £210k+ will mean proper spec and mileage 991.1 GT3s will strengthen price wise particularly into early next year although slight easing of trade bids is envisaged with the usual seasonal dip as we go into autumn and winter.

The increasingly limited supply of 'proper' OPC cars tells you all you need to know.

Great cars btw and imo a better road car than the 991 RS.

[Cheib]

sidicks said:

I'd expect prices to fall gradually as you'd expect from any car as they get older.

However (lack of) supply and (high) demand for these cars (particularly the GT3.2) will help support prices and of course, the fact that the gen 1 cars now have a 10-year engine warranty will support (or even increase?) prices in the short term.

The 10yr warranty is a great thing but just can't see it boosting pricess. Down the road it creates a problem when that warranty runs out.

[FredBasset]

Not really, you still have another 5 years you can take the Porsche warranty out.

I would think by that point there will be a suitable aftermarket fix.

Regards
Fred

[RSVP911]

av185 said:

The gen 2 GT3 expected price parity with the 991.1 RS GT3 of £210k+ will mean proper spec and mileage 991.1 GT3s will strengthen price wise particularly into early next year although slight easing of trade bids is envisaged with the usual seasonal dip as we go into autumn and winter.

The increasingly limited supply of 'proper' OPC cars tells you all you need to know.

Great cars btw and imo a better road car than the 991 RS.

Hi Av : Agree - 991.2 GT3 prices will push gen1 prices - higher (or will maintain current levels) not sure 991.2 GT3 will get to more than £k180/£k190 though (maybe the odd outlier advertised price but not the norm, even for very well speced cars IMHO - but I maybe wrong.)

Don't agree on 991RS vs 991GT3 road car comment though - both equally usable and very easy to live with IMHO.

Edited by RSVP911 on Monday 28th August 23:28

[Cheib]

woollyjoe said:

is the 10 year warranty not on a specific part of the engine?

It is. From the press release

If a vehicle shows the described failure patterns (e.g., misfire at high revs and check engine light) and the inspection in the workshop shows the failure patterns, Porsche will replace the defective engine with a new engine having the latest parts

[av185]

RSVP911 said:

Hi Av : Agree - 991.2 GT3 prices will push gen1 prices - higher (or will maintain current levels) not sure 991.2 GT3 will get to more than £k180/£k190 though (maybe the odd outlier advertised price but not the norm, even for very well speced cars IMHO - but I maybe wrong.)

Don't agree on 991RS vs 991GT3 road car comment though - both equally usable and very easy to live with IMHO.

Edited by RSVP911 on Monday 28th August 23:28

Rich, yes I agree they are both great in their own way .....what I meant was that perhaps the GT3 is nearer the sweet spot (in some ways similar to the GT4) in terms of everyday use for the road. The GT3 is less 'in your face' and the added aero on the RS provides real world advantages only on track. Also perhaps questionable is the huge price gap between the two cars although this clearly also reflects the fact that most RS for sale are that much newer with less mileage.

Be interesting to hear your thoughts on the 991.2 GT3 against the RS if you get a PEC drive.

[sidicks]

woollyjoe said:

is the 10 year warranty not on a specific part of the engine?

Agreed, but it's concerns over that issue that have caused people to be concerned about buying a car outside of the Porsche warranty. Now these concerns are less relevant.

[sidicks]

Cheib said:

The 10yr warranty is a great thing but just can't see it boosting pricess. Down the road it creates a problem when that warranty runs out.

But clearly it defers those concerns for 6+ years! And you can still get a Porsche warranty until year 15.
Compared to the situation prior to the announcement, these cars are more attractive to used buyers than they were previously, or at least there will be some buyers who were previously put off buying a car, but now might not be. The combination of the above would suggest a price increase, but of course it could be negligible.

[av185]

Sid....what is the mileage on yours now?

Have you had any issues with the engine?

[WindyM]

sidicks said:

The combination of the above would suggest a price increase, but of course it could be negligible.

With approximately 50 991.1 GT3s for sale today, (and some examples have been for at least 3 months), why would there be a price increase?

I suppose my question is: why are these 50 cars not selling if there is so much demand and they are actually too cheap?

[RSVP911]

av185 said:

RSVP911 said:

Hi Av : Agree - 991.2 GT3 prices will push gen1 prices - higher (or will maintain current levels) not sure 991.2 GT3 will get to more than £k180/£k190 though (maybe the odd outlier advertised price but not the norm, even for very well speced cars IMHO - but I maybe wrong.)

Don't agree on 991RS vs 991GT3 road car comment though - both equally usable and very easy to live with IMHO.

Edited by RSVP911 on Monday 28th August 23:28

Rich, yes I agree they are both great in their own way .....what I meant was that perhaps the GT3 is nearer the sweet spot (in some ways similar to the GT4) in terms of everyday use for the road. The GT3 is less 'in your face' and the added aero on the RS provides real world advantages only on track. Also perhaps questionable is the huge price gap between the two cars although this clearly also reflects the fact that most RS for sale are that much newer with less mileage.

Be interesting to hear your thoughts on the 991.2 GT3 against the RS if you get a PEC drive.

Yep - all fair points.

Re comp after PEC day - need to get an allocation first

[short-shift]

I keep seeing this reference to "50 cars for sale" and, whilst I'm not sure where it originated, it's clear that it's becoming accepted as fact - whereas I think it's probably fairly wide of the mark.

A quick check on the Porsche Locator shows 21 cars available, and adding all of the other private sales and non-OPC ads from both PH and AT together brings a further 13 RHD cars in the UK - so a total of 34. Not an insignificant quantity but a long way from the "50 cars" reference.

Two further points. Until a couple of weeks ago, the Porsche Locator was consistently showing only around 10-12 cars in the network, and I suspect the recent ramp-up in numbers is purely down to those lucky people with Gen 2 orders bringing back their Gen 1 cars for sale at their supplying OPC. And secondly, I am aware of at least three (possibly four) cars that have sold within the last several weeks alone - so the market is moving, albeit maybe at a slower pace than previously.

I also think that two factors are combining to underpin Gen 1 values. Firstly, the 10-year warranty on the engine (I read elsewhere, somewhere, that there is likely to be a Porsche GB comminication on this shortly) serves to underline Porsche's confidence in the engine whilst also removing a reason for not buying in the minds of prospective purchasers. And secondly, when the first Gen 2 cars become available on the market around the £180k - £200k mark, the Gen 1's will suddenly appear to be very good value...

James

[WindyM]

short-shift said:

I keep seeing this reference to "50 cars for sale" and, whilst I'm not sure where it originated, it's clear that it's becoming accepted as fact - whereas I think it's probably fairly wide of the mark.

I mentioned the 50 earlier, which to be honest included some RSs and other noise. You are correct - 36 cars today if we set the price range £100k-£150:

https://www.pistonheads.com/classifieds?Category=u...

[DT398]

Now all the hysteria about the 991.2 having the "exact same engine as the RSR" or whatever has abated somewhat, I can't see the 991.2GT3 ever priced above a lightly used Gen1 RS. They'll be very close on a track but the RS is still the RS. The engine is still a masterpiece and it's fair to assume it'll get a 10 year warranty as well if any significant issue develops, which it most likely won't. The way the thing looks is worth £20k on top of a regular GT3 just for starters. If you can get an RS for £200k, I think it's a small market for those that would pay the same for a 991.2GT3. Somebody might though!

I would have thought the Gen1 will stick where it is for now and maybe drift down a little bit, but compared with the depreciation you would expect from pretty much any other car, it's near as damn it free motoring. Get one bought OP!

Still, Gen2 RS will be the one to have......

Edited by DT398 on Tuesday 29th August 14:00

[DT398]

short-shift said:

And secondly, when the first Gen 2 cars become available on the market around the £180k - £200k mark, the Gen 1's will suddenly appear to be very good value...

James

Thing is, everyone knows this now, so they are good value now, surely? We all know the first chancer to flip a 9912GT3 will have it up at £195k and see if anyone bites. I can see the advert already....

I think it's a pretty orderly market for the Gen1 now and that's why they will sit as they are or maybe drift down a bit. Every situation that could potentially push them up is already known. Just my view, others may vary.

[sidicks]

av185 said:

Sid....what is the mileage on yours now?

14k, I think.

av185 said:

Have you had any issues with the engine?

None (so far).