slow market...
Discussion
Just had our wake up call as to how bad the market is, when we tried to sell my girlfriends Mini Cooper. Mint 53 reg, 60k miles, good spec. Struggled to get £3500 for it after dropping from £4295, £3995, £3695 over a few weeks.
Ok, not Porsche related and a different audience but if people haven't got £3500 for an everyday car, you know it's bad!
It's bleak out there.
Was looking to sell my 964T in the new year but really can't be bothered now.
Ok, not Porsche related and a different audience but if people haven't got £3500 for an everyday car, you know it's bad!
It's bleak out there.
Was looking to sell my 964T in the new year but really can't be bothered now.
marky911 said:
Just had our wake up call as to how bad the market is, when we tried to sell my girlfriends Mini Cooper. Mint 53 reg, 60k miles, good spec. Struggled to get £3500 for it after dropping from £4295, £3995, £3695 over a few weeks.
Ok, not Porsche related and a different audience but if people haven't got £3500 for an everyday car, you know it's bad!
It's bleak out there.
Was looking to sell my 964T in the new year but really can't be bothered now.
A mini and a 964T are not comparable. There are millions of minis and as such an oversupply = worth nowt.Ok, not Porsche related and a different audience but if people haven't got £3500 for an everyday car, you know it's bad!
It's bleak out there.
Was looking to sell my 964T in the new year but really can't be bothered now.
964T totally different! People will pay for a good car.
MTR
Yep, as I said above, different markets but either way there's not much money getting spent out there. Well up here north of Newcastle anyway.
My mates are traders and not much is moving, simple as.
May be better down south but up here no-one is spending.
My mates are traders and not much is moving, simple as.
May be better down south but up here no-one is spending.
Edited by marky911 on Wednesday 23 November 08:45
I think one of the best places to see the used porsche market in action is the 911V website. Henry would seem to be as good as they get at buying the correct stock and getting it gone quickly.
If you wanted to be anal about it you could keep a spreadsheet of what cars come in and how long till they get a "deposit taken" sticker! It would tell you what Henry thinks is sellable and whether her is right or not.
Bert
If you wanted to be anal about it you could keep a spreadsheet of what cars come in and how long till they get a "deposit taken" sticker! It would tell you what Henry thinks is sellable and whether her is right or not.
Bert
There is a lot morosity in the market that affects all price points at the moment, almost irrespective of supply. Prices are disproportionaly down compared the usual inherent winter drop, no question. Only the aggressively priced stuff sells, and then again it might only sell at a susbstantial discount against asking.
nickfrog said:
There is a lot morosity in the market that affects all price points at the moment, almost irrespective of supply. Prices are disproportionaly down compared the usual inherent winter drop, no question. Only the aggressively priced stuff sells, and then again it might only sell at a susbstantial discount against asking.
Its hard to see it recovering next year either. I fear 2012 is not going to be good.MTR
Not sure about the pricing on the water cooled stuff but it seems a lot of people out there are pricing the air cooled stuff at crazy prices. eg, 993 nb with 60k+ on the clock for £30k.
Dont really think the market is any worse this year than its been the last couple with regards to the classic stuff.
At the end of the day, Nice sorted cars at the right price will sell quickly.
Dont really think the market is any worse this year than its been the last couple with regards to the classic stuff.
At the end of the day, Nice sorted cars at the right price will sell quickly.
Edited by turbo964 on Wednesday 23 November 11:00
daveyb662 said:
mollytherocker said:
Its hard to see it recovering next year either. I fear 2012 is not going to be good.
MTR
Always nice to read a bright and optimistic post!!MTR
But it is foolish to hide ones head in the sand too. I believe that this is how we got where we are now?
MTR
BertBert said:
I think one of the best places to see the used porsche market in action is the 911V website. Henry would seem to be as good as they get at buying the correct stock and getting it gone quickly.
If you wanted to be anal about it you could keep a spreadsheet of what cars come in and how long till they get a "deposit taken" sticker! It would tell you what Henry thinks is sellable and whether her is right or not.
Bert
A couple of weeks ago we were very worried. Very worried indeed.If you wanted to be anal about it you could keep a spreadsheet of what cars come in and how long till they get a "deposit taken" sticker! It would tell you what Henry thinks is sellable and whether her is right or not.
Bert
We thought we were going to run out of cars!
I kid you not. I think we were down to 10 cars available on one day. Now I'm not saying everything in the field is rosy, for the past few years our job of finding a position somewhere in between sellers who think their car is the only decent one available in the world and buyers who think they are the only buyer in the world has been a tricky one. But we sold 9 or 10 cars in week recently. That was part of the cause of the lack of stock.
The proof of the pudding is the fact our chequebook is wide open at the moment, well in these modern times it's actually a funny little calculator thingy which gives a magic number that allows us to fire off an instant CHAPS transfer but you get my drift!
What I will say is that crappy cars stand little chance of selling unless they are cheaper than the proverbial chips. Your car has to be fully sorted, a good base car that's presented properly. There are plenty of car's for sale which we've seen and rejected. Sometimes on the basis of price but other times because of issues.
As for how long a particular car takes to sell, well that's always been one of those great mysteries of the world. Over the years I bought countless Porsches which I was thrilled about knowing they would fly out of the door instantly. Except they didn't. They all sell but they just took longer than expected. Then there are loads of others which I've sucked air on and very nearly not bought for one reason or another. They sold the next day! Go figure.
I've long since given up worrying about what others are or aren't doing. I judge on what I know, our own activity and I'm happy we can keep plodding on.
Henry
nickfrog said:
Or very good if you're buying !!!
This. There are some steals at the mo on high end metal. Look at Lambo prices (or don't...don't want the market talked up haha), and tbh....some of the late 997's are amazing value. At £60k or something for a Gen 2, you're getting an amazing car. Gassing Station | Porsche General | Top of Page | What's New | My Stuff