Crazy market values?
Discussion
dgswk said:
To give you an idea, 992 C2S, 18 months old, 4k miles, £102k car, WBAC offering £87k, OPC £89k and had an Indie at £90k.
Very happy with that, had priced in double that loss.
Not selling it, did occur to me, but ended up an EV Polestar through the company scheme as a daily, life is too short
Should make a nice combo, but note to self: DRIVE THE 911 MORE!!!!
WBAC +£1k today. Not that I'm looking or anything, but it is nice to watch a normally depreciating asset go up in value!Very happy with that, had priced in double that loss.
Not selling it, did occur to me, but ended up an EV Polestar through the company scheme as a daily, life is too short
Should make a nice combo, but note to self: DRIVE THE 911 MORE!!!!
Edited by dgswk on Thursday 29th April 18:22
Jeepers, I'll have to think about paying cash for it next time rather than finance it!!!!!
I've been keeping an eye on WBAC prices - just out of interest - this is for a late 2017 718 base with 35k
15/12/2020 - £27,615
04/01/2021 - £28,500
11/02/2021 - £28,740
27/02/2021 - £29,560
10/03/2021 - £29,000
19/03/2021 - £29,845
24/03/2021 - £29,845
31/03/2021 - £30,270
12/04/2021 - £30,270
28/04/2021 - £30,270
02/05/2021 - £31,330
15/12/2020 - £27,615
04/01/2021 - £28,500
11/02/2021 - £28,740
27/02/2021 - £29,560
10/03/2021 - £29,000
19/03/2021 - £29,845
24/03/2021 - £29,845
31/03/2021 - £30,270
12/04/2021 - £30,270
28/04/2021 - £30,270
02/05/2021 - £31,330
Thought I’d got a reasonable price for my Sep19 2.5T Cayman GTS but see that Leicester OPC have it up for £66k which is more than £10k above the price I received…. Prices have definitely gone mad!
BtW - I’ve also advertised a set of pristine, hardly used 18in Boxster winter wheels (£1500 ONO) if anyone is interested- currently being stored at Solihull OPC.
BtW - I’ve also advertised a set of pristine, hardly used 18in Boxster winter wheels (£1500 ONO) if anyone is interested- currently being stored at Solihull OPC.
I've also been checking WBAC as they keep emailing to say there's been an increase in valuation.
2011 987.2 CS 48k miles
09/12/20 - £17,000
22/03/21 - £18,110
06/04/21 - £19,890
15/04/21 - £20,675
06/05/21 - £22,000
£5k increase in 5 months.. I'm actually starting to get tempted (although think it would sell privately for around £25-27k).
2011 987.2 CS 48k miles
09/12/20 - £17,000
22/03/21 - £18,110
06/04/21 - £19,890
15/04/21 - £20,675
06/05/21 - £22,000
£5k increase in 5 months.. I'm actually starting to get tempted (although think it would sell privately for around £25-27k).
T1547 said:
I've also been checking WBAC as they keep emailing to say there's been an increase in valuation.
2011 987.2 CS 48k miles
09/12/20 - £17,000
22/03/21 - £18,110
06/04/21 - £19,890
15/04/21 - £20,675
06/05/21 - £22,000
£5k increase in 5 months.. I'm actually starting to get tempted (although think it would sell privately for around £25-27k).
Haha. The exact spot I’m in same year and model. Although mine is at £22,750 today maybe another increase? 2011 987.2 CS 48k miles
09/12/20 - £17,000
22/03/21 - £18,110
06/04/21 - £19,890
15/04/21 - £20,675
06/05/21 - £22,000
£5k increase in 5 months.. I'm actually starting to get tempted (although think it would sell privately for around £25-27k).
49.5k 11 plate CS - I’m very tempted to let it go.
If you are thinking of selling, I would be tempted to do so.
Different car but about 20 years ago I had an MB CLK230 which I bought privately for £27k, 18 months and 10k miles later later I was offered £24k by a main MB dealer (to buy, not as a trade in), I decided to hang on for a few more months.... 6 months later I struggled to get £18k privately, still not got over it....
Different car but about 20 years ago I had an MB CLK230 which I bought privately for £27k, 18 months and 10k miles later later I was offered £24k by a main MB dealer (to buy, not as a trade in), I decided to hang on for a few more months.... 6 months later I struggled to get £18k privately, still not got over it....
Depends on your outlook. If they're going to be churning out hybrid variants by the dozen and moving to full electrification over the next few years traditional powered performance cars are going to become far less numerous. How that translates to valuations going forward we can only speculate, but I'd be fairly confident we're unlikely to see these crash anytime soon. Quite the reverse I'd argue...
Schmed said:
Depends on your outlook. If they're going to be churning out hybrid variants by the dozen and moving to full electrification over the next few years traditional powered performance cars are going to become far less numerous. How that translates to valuations going forward we can only speculate, but I'd be fairly confident we're unlikely to see these crash anytime soon. Quite the reverse I'd argue...
Indeed, especially if the new cars will very shortly be delivered with EU mandated speed limiting capabilities.We’ve left the EU, but obviously Carrie has decreed that we need to adopt these rules too.
CloudStuff said:
Indeed, especially if the new cars will very shortly be delivered with EU mandated speed limiting capabilities.
We’ve left the EU, but obviously Carrie has decreed that we need to adopt these rules too.
No need to blame Carrie.We’ve left the EU, but obviously Carrie has decreed that we need to adopt these rules too.
Even if the UK made the stupid move of reverting to a separate UK homologation standard (ultimately it would be reducing choice and increasing costs for UK consumers), which happened to not require the EU speed limiting rules, every car imported from the EU (and probably Japan) is going to have the feature anyway. UK homologation would never require that such a thing is obligatory to remove!
braddo said:
CloudStuff said:
Indeed, especially if the new cars will very shortly be delivered with EU mandated speed limiting capabilities.
We’ve left the EU, but obviously Carrie has decreed that we need to adopt these rules too.
No need to blame Carrie.We’ve left the EU, but obviously Carrie has decreed that we need to adopt these rules too.
Even if the UK made the stupid move of reverting to a separate UK homologation standard (ultimately it would be reducing choice and increasing costs for UK consumers), which happened to not require the EU speed limiting rules, every car imported from the EU (and probably Japan) is going to have the feature anyway. UK homologation would never require that such a thing is obligatory to remove!
I presume that if you do though, then drive above prescribed limit and have an accident, if the Police / Insurers investigate there will be implications.
Could it be that a pre-2022 992.1 sans Hybridisation is the last of its kind?
braddo said:
CloudStuff said:
Indeed, especially if the new cars will very shortly be delivered with EU mandated speed limiting capabilities.
We’ve left the EU, but obviously Carrie has decreed that we need to adopt these rules too.
No need to blame Carrie.We’ve left the EU, but obviously Carrie has decreed that we need to adopt these rules too.
Even if the UK made the stupid move of reverting to a separate UK homologation standard (ultimately it would be reducing choice and increasing costs for UK consumers), which happened to not require the EU speed limiting rules, every car imported from the EU (and probably Japan) is going to have the feature anyway. UK homologation would never require that such a thing is obligatory to remove!
I do think though, that this 'feature', will become de-facto unavoidable. Notionally, it will be possible to disable it but for how long?
It does really 'take a dump' directly onto the business model of all manufacturers who sell 'performance' cars. What will be the point?
Saxmaster said:
Haha. The exact spot I’m in same year and model. Although mine is at £22,750 today maybe another increase?
49.5k 11 plate CS - I’m very tempted to let it go.
So true. I've noticed that prices for 987.2's in BS and CS forms have really firmed up right across the market in the last 12 months.49.5k 11 plate CS - I’m very tempted to let it go.
I bought a low miles 09 BS for less than £19k 4 years ago, and a 51k 09 CS for less than £18k early last year. The latter needed a fair amount of work doing inc a clutch and flywheel, so I sold it on during lockdown for what I paid, but in hindsight I could have done £2k's worth of remedial work and still maybe made a small profit on it.
It seems that the market has finally woken up to how good they are. The likes of Sytner are selling them £2k - £3k more than they were even 12 months ago and they're overlapping with prices of slightly-older 997.1s
KPB1973 said:
So true. I've noticed that prices for 987.2's in BS and CS forms have really firmed up right across the market in the last 12 months.
I bought a low miles 09 BS for less than £19k 4 years ago, and a 51k 09 CS for less than £18k early last year. The latter needed a fair amount of work doing inc a clutch and flywheel, so I sold it on during lockdown for what I paid, but in hindsight I could have done £2k's worth of remedial work and still maybe made a small profit on it.
It seems that the market has finally woken up to how good they are. The likes of Sytner are selling them £2k - £3k more than they were even 12 months ago and they're overlapping with prices of slightly-older 997.1s
The market is definitely realizing what a great crossover point the 987 platform is between the new and old era Porsches.I bought a low miles 09 BS for less than £19k 4 years ago, and a 51k 09 CS for less than £18k early last year. The latter needed a fair amount of work doing inc a clutch and flywheel, so I sold it on during lockdown for what I paid, but in hindsight I could have done £2k's worth of remedial work and still maybe made a small profit on it.
It seems that the market has finally woken up to how good they are. The likes of Sytner are selling them £2k - £3k more than they were even 12 months ago and they're overlapping with prices of slightly-older 997.1s
I think alot of 987 buyers are new to Porsche and don't give a toss about the whole 911 legacy...they probably actually test drive them all and take the one that gives the max bang for the buck
I wouldn't get too excited. I'm in the trade and have just been in a pricing meeting - currently dealers are widespread increasing prices of all sorts of cars. The reality is demand is far exceeding supply at the moment. We have had crazy amount of enquiries cars that are pretty mundane which are simply competitively priced.
It is a seller's market; I would discourage anyone buying a used car if they're hoping for a deal.
It is a seller's market; I would discourage anyone buying a used car if they're hoping for a deal.
Edited by thelostboy on Thursday 13th May 13:44
Not just happening in the UK either, general used car prices in the US have just jumped 10% in a month so this is a widespread phenomenon.
However there is a bit more at play I feel.
As far as Porkers go it is (even now after gains in the last year) good bang for buck in value terms, but if I wanted bang for buck in power and acceleration terms there is plenty more out there. A Golf R or Audi TT RS perhaps?
Why buy a 987 now at seemingly peaky prices? Well, I've fancied one for a while, been searching for ages, and decided it is now or never.
All the usual cliches, time running out for petrol cars, anything with a flat 6 has surely bottomed out, we could all be dead from Covid-22 next year.
Plus I remember when 964s were less loved and could be bought for 16 grand, the 996 for 12, 944s could be had for 3 or 4k, , 968s etc..
IMO the 987 Cayman is a surefire near-future classic, a great looking, driving and perfectly sized Porsche without breaking the bank.
So there was a sense of urgency and not wanting to put off buying one any further. I'm probably not alone there.
Who knows, they may drop back a little, but I decided I didn't want to wait any longer. Anyone else looking to buy one this summer?
However there is a bit more at play I feel.
Andyoz said:
The market is definitely realizing what a great crossover point the 987 platform is between the new and old era Porsches.
I think alot of 987 buyers are new to Porsche and don't give a toss about the whole 911 legacy...they probably actually test drive them all and take the one that gives the max bang for the buck
Agree with your first point but not sure on the second. I love 911s, especially air cooled ones but have missed the boat there and have just picked up a 987.1 Cayman. I wasn't really cross shopping against anything in the Porsche stable apart from maybe a Boxster of similar vintage - or a ropey and much older 996. But I'm undoubtedly influenced by 911s of yore.I think alot of 987 buyers are new to Porsche and don't give a toss about the whole 911 legacy...they probably actually test drive them all and take the one that gives the max bang for the buck
As far as Porkers go it is (even now after gains in the last year) good bang for buck in value terms, but if I wanted bang for buck in power and acceleration terms there is plenty more out there. A Golf R or Audi TT RS perhaps?
Why buy a 987 now at seemingly peaky prices? Well, I've fancied one for a while, been searching for ages, and decided it is now or never.
All the usual cliches, time running out for petrol cars, anything with a flat 6 has surely bottomed out, we could all be dead from Covid-22 next year.
Plus I remember when 964s were less loved and could be bought for 16 grand, the 996 for 12, 944s could be had for 3 or 4k, , 968s etc..
IMO the 987 Cayman is a surefire near-future classic, a great looking, driving and perfectly sized Porsche without breaking the bank.
So there was a sense of urgency and not wanting to put off buying one any further. I'm probably not alone there.
Who knows, they may drop back a little, but I decided I didn't want to wait any longer. Anyone else looking to buy one this summer?
I had been flirting with the idea of a 987.2 base Cayman since back end of last year. Now I'm actively looking and prices are up quite significantly, and good one's are coming and barely lasting a day or 2 on auto trader before being sold, frustrating.
They are also very few on the market, I'm starting to consider a 987.1 S now instead that I had previously discounted. There is a nice looking blue one up for £16,750 which is not far short of some 987.2 that were available when I first started looking last year.
They are also very few on the market, I'm starting to consider a 987.1 S now instead that I had previously discounted. There is a nice looking blue one up for £16,750 which is not far short of some 987.2 that were available when I first started looking last year.
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