Insanity AKA UK Market - RS 4.0+2x 996 RS,3x 993 Turbo=1.1M

[redback911]

First six cars listed on JZM tonight:

http://www.jzmporsche.com/porsche-for-sale/

Porsche 997 GT3 RS 4.0L £349,900 - 4650 miles
Porsche 993 Turbo S £249,900 - 17124 miles
Porsche 996 GT3 RS £149,900 - 9310 miles
Porsche 996 GT3 RS £119,900 - 20145 miles
Porsche 993 Turbo £114,900 - 26175 miles
Porsche 993 Turbo £108,900 - 38390 miles

JZM seem to shift stock quite quickly, so no doubt they feel these cars are "priced to sell". These examples just seem to represent significant inflation in the last twelve months for similar cars.

Where are we on the cycle?

[DT398]

Somewhere in the mania phase? Climbing rapidly away from "enthusiasm" ?

[Mermaid]

Timely post/thread.

Those who own such cars will likely have a different view to those who want to own there cars. I don't, and have no wish to own these classics. I suspect if we plot another graph with interest rates over the last 10 years & project 5 years ahead and superimpose, that too would be revealing.

The smart money is cashing up IMO.

[BMCG]

curious that similar mileage 997.2 and 996 Gt3 RS are equivalent asking..

http://www.pistonheads.com/classifieds/used-cars/p...

[R1nur]

I think we are almost at the end of the "Greed" phase. However, I think the Median will be a steeper upward gradient due to the limited and only ever reducing supply.

[Ekona]

Three hundred and fifty thousand for a PTS 4.0??!!

I'm speechless. Yes, a dream car, but that's insanity. And what's worse is that no doubt it will sell for that too.


I give up ever owning interesting Pork ever again. Ahm oot.

[thegreenhell]

I was going to say we are in the greed phase, but based on the fact that some people are arguing that £350k for a 997 is a bargain I'd say that we're firmly into delusion.

[IMI A]

If you're liquid buy that PTS car now. It will be £500k without a doubt in a few years. Very special car. Personally i would have CGT over the 4.0 as investment is not my goal when it comes to cars. At £250k I would seriously consider this 4.0 though. Think a CGT nudges it at anything over £275k IMO but this PTS car even at £350k will make its new owner very happy from an investment perspective. Just a random bet but I think You'd have a good chance of winning from an investment persoective. Colour is achingly pretty and testament to whoever specced it.

[APOLO1]

redback911 said:

First six cars listed on JZM tonight:

http://www.jzmporsche.com/porsche-for-sale/

Porsche 997 GT3 RS 4.0L £349,900 - 4650 miles
Porsche 993 Turbo S £249,900 - 17124 miles
Porsche 996 GT3 RS £149,900 - 9310 miles
Porsche 996 GT3 RS £119,900 - 20145 miles
Porsche 993 Turbo £114,900 - 26175 miles
Porsche 993 Turbo £108,900 - 38390 miles

JZM seem to shift stock quite quickly, so no doubt they feel these cars are "priced to sell". These examples just seem to represent significant inflation in the last twelve months for similar cars.

Where are we on the cycle?

RHDs, have there own "micro climate"

[anonymous-user]

I think we are in the delusional phase. Those prices remind me of this oft posted ad from the early nineties. Caveat emptor.
Declared interest: sold six months too early.

[Ken Sington]

Spotted this last night. £150,000 for 911S Targa. Full resto apparently.

[Mermaid]

APOLO1 said:

RHDs, have there own "micro climate"

Because of export potential?

[Carl_Docklands]

Looking at the 4.0 rs thread, We are somewhere between the new paradigm and denial phase. The mania stage.

I noticed You can pick up desirable (to me anyway), lightly used, special edition Clio 200 for £15k.

I don't know what this means other than a disconnect.

[DMC2]

The complete insanity in current valuations has managed to completely kill my car appetite. This wallet waving to have the 'must buy' cars at any costs is disgusting. I aspired to own several cars including a 2.7S, but f@ck me, I'm not paying £150k+.

[Koln-RS]

A 2.7S should still be only be around £20k (not one of Porsche's finest moments though).

The trouble with that graph is that it purports to predict a pattern.

Truth is, no one knows how things will pan out - it's all speculation.

Personally I think we have a mix of solid values and crazy over-pricing and things will 'correct' but not collapse.

[g7jhp]

redback911 said:

First six cars listed on JZM tonight:

http://www.jzmporsche.com/porsche-for-sale/

Porsche 997 GT3 RS 4.0L £349,900 - 4650 miles
Porsche 993 Turbo S £249,900 - 17124 miles
Porsche 996 GT3 RS £149,900 - 9310 miles
Porsche 996 GT3 RS £119,900 - 20145 miles
Porsche 993 Turbo £114,900 - 26175 miles
Porsche 993 Turbo £108,900 - 38390 miles

JZM seem to shift stock quite quickly, so no doubt they feel these cars are "priced to sell". These examples just seem to represent significant inflation in the last twelve months for similar cars.

Where are we on the cycle?

These are all relatively limited run cars so I'd say they're slightly more protected than run of their run of the mill variants. But I still see these at the 'New Paradigm' stage and think the run of the mill variants are in 'Denial' as cars aren't selling as quickly and there does seem to be more realistically priced cars coming on.

[Jon666]

Buyers will deny but, maybe even subconsciously, it's the prospect of continuing rising prices that's making people buy just now. It's a classic bubble - rocketing prices with a seemingly rational explanation for increases. Normality always returns

[hondansx]

I think us poor people are just trying to make ourselves feel better.

We don't only have more millionaires, but more emerging markets with new millionaires. In the case of Porsche, we have a manufacturer saying manual is dead, leaving us with a very limited amount of exceptional cars. Demand is higher than supply, it's simple.

I personally think as the new 991 RS comes, followed by an even faster generation after the 991, there will be a lull as the 996/997 is massively outclassed in terms of performance and laptimes. Then there will be another nostalgia phase after this which will see them go sky high again.

Didn't they make 1000 '72/'72 RS' and then under 100 RSRs? I think most iterations of the 997 GT2/3/RS/4.0 were made in fewer numbers than this; surely they could end up being £500k (plus inflation) one day? The difference is that it has taken the '70s cars 30 years to get to these levels.

[DiscoColin]

Mermaid said:

APOLO1 said:

RHDs, have there own "micro climate"

Because of export potential?

Certainly. They didn't make many. I haven't seen an official number, but as I understand things, there are significantly more original road spec McLaren F1s than RHD 4 litres... They aren't as rare as RHD 993 GT2s, but as a proportion of the number build, about half as common... What does a RHD Ferrari Daytona go for? I am led to believe that they made nearly 4 times as many of those for the UK as the total global production of RHD RS 4.0s...

And that is before we consider that we are talking about a factory paint to sample where the majority of cars are white and most of the rest black.

People talk of price adjustments to come, but there just aren't many in existence. There is unlikely to ever be a choice on the market and most are already with collectors. On what basis would the price fall? Are the rich getting poorer and having to dump the toy collections?

[Spaceman2001]

drmark said:

I think we are in the delusional phase. Those prices remind me of this oft posted ad from the early nineties. Caveat emptor.
Declared interest: sold six months too early.

Amazing . I used to have something similar. Guess from '89. Makes the current market look very dull indeed!