Porsche criticises 'investment' buyers, then edits comments
Discussion
interesting article cmoose. But Porsche would not have their own classic restoration division if there was not any money in it. Restoring a pre 73 long hood 911 costs in excess of £100,000. Not much point in contemplating that exercise if the car is only worth £40,000 which really makes the S models the only truly viable proposition. To build a competitive 65 911 FIA race car is north of £200,000 but at least they get to be used in anger. Imagine taking you early Boxter in for some major surgery and getting a bill for £40,000. What niggles me is that the invoice always seems to be commensurate with the value of the car. The ideology that being hit with a £25,000 bill should be acceptable as you own a classic worth north of £200,000. It's b
ks
ks I remember when I saw a Red 964 for 10k back a good few years ago (8 or so) and it had had a sympathetic restore and was shown the receipts, etc. It was circa 5k for a lot of work.
I suspect now that it would be worth 45k the restore would be closer to 20-25k.
This would be assuming that the work was the same and the extra 8 years did not create any more issues.
Why would this be the case?
I suspect now that it would be worth 45k the restore would be closer to 20-25k.
This would be assuming that the work was the same and the extra 8 years did not create any more issues.
Why would this be the case?
993 calipers have gone up 4x at OPC
ask for a proper paint JOB ie on a car you want to keep not blow over flip it's now £20k
a engine rebuild is £20k
body work is £20k
every one is cashing in on the older cars values.
The money is not in a 986 to do up imo and never will be, a 986 will cost as much to do as a 911S, but like the 964 issue atm
£60k to buy £60k to do up the cars not worth £120k !!! the right money was in the 911S,, that filters down the the E then T as people try and cash in. but who wants a T ? in fact the T name has been st from day one to the current day lol
ask for a proper paint JOB ie on a car you want to keep not blow over flip it's now £20k
a engine rebuild is £20k
body work is £20k
every one is cashing in on the older cars values.
The money is not in a 986 to do up imo and never will be, a 986 will cost as much to do as a 911S, but like the 964 issue atm
£60k to buy £60k to do up the cars not worth £120k !!! the right money was in the 911S,, that filters down the the E then T as people try and cash in. but who wants a T ? in fact the T name has been s
t from day one to the current day lol Edited by Porsche911R on Monday 21st May 09:07
I find this constant criticism of Porsche for their strategy to be rather odd - they are part of VW, which is a business with shareholders, and so have a duty to make money when the opportunity arises. All the other companies associated with them (including restorers) are doing the same - they'd be bonkers not to. People aren't forced to buy old Porsches, nor are they forced to spend money on restoring them.
If you want an affordable Porsche, buy a 996 or 986 (as Porsche have suggested) and stop moaning...
If you want an affordable Porsche, buy a 996 or 986 (as Porsche have suggested) and stop moaning...
old cars cost, especially the badly built old porkers!, no news there! but the deleted part of the comments were more interesting
"the questionable interest-rate policy of the European Central Bank (ECB) and the resulting demand for tangible assets. This demand has sent prices skyrocketing and left an increasing number of old Porsche vehicles sequestered in garages, rarely or never seeing the light of day because they were bought purely as investments. "
Quite brave public comment on global finance, I wonder if the guy who wrote this still employed there?
"the questionable interest-rate policy of the European Central Bank (ECB) and the resulting demand for tangible assets. This demand has sent prices skyrocketing and left an increasing number of old Porsche vehicles sequestered in garages, rarely or never seeing the light of day because they were bought purely as investments. "
Quite brave public comment on global finance, I wonder if the guy who wrote this still employed there?
Fastlane said:
I find this constant criticism of Porsche for their strategy to be rather odd - they are part of VW, which is a business with shareholders, and so have a duty to make money when the opportunity arises. All the other companies associated with them (including restorers) are doing the same - they'd be bonkers not to. People aren't forced to buy old Porsches, nor are they forced to spend money on restoring them.
If you want an affordable Porsche, buy a 996 or 986 (as Porsche have suggested) and stop moaning...
Porsche are there to make money not cars.If you want an affordable Porsche, buy a 996 or 986 (as Porsche have suggested) and stop moaning...
Porsche are part of VAG, alright. That's the Diesel-gate company, isn't it? You know, the one that deliberately set out to hide the fact its diesels will pump millions of tons of NOx into the atmosphere (knowing that it's up to 300 times worse than CO2 as a greenhouse gas) illegally.
Therefore any lecture on morals from them are about the most hypocritical thing in the known universe.
Therefore any lecture on morals from them are about the most hypocritical thing in the known universe.
What a curious article! I don't know much about Porsche Klassik or Thomas Fuths but he must be pretty close to Porsche for the publication does appear to come out with the the official blessing of Stuttgart - although I guess Herr Fuths' editorial leash will have been shortened by several centimetres after this lead balloon.
The article mentions that Text first published in the magazine "Porsche Klassik 12" in print form. I have found a couple of copies on eBay [02/17 Ausgabe 12] that the lawyers haven't managed to snap-up yet, or perhaps the fiasco was just with the English translation that was subbed-out to someone with a sense of humour/who is now looking for new work?
Anyway, as a 2002 Lapis blue 2.7 owner, I would have doffed my 2003 retrofitted soft top (and frame) to Herr Fuths as he is clearly a man of impeccable taste but sadly, I let mine go last year after 15 years but I would buy another in a heartbeat.
The article mentions that Text first published in the magazine "Porsche Klassik 12" in print form. I have found a couple of copies on eBay [02/17 Ausgabe 12] that the lawyers haven't managed to snap-up yet, or perhaps the fiasco was just with the English translation that was subbed-out to someone with a sense of humour/who is now looking for new work?
Anyway, as a 2002 Lapis blue 2.7 owner, I would have doffed my 2003 retrofitted soft top (and frame) to Herr Fuths as he is clearly a man of impeccable taste but sadly, I let mine go last year after 15 years but I would buy another in a heartbeat.
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