GT3 prices going up

[Percy.]

Nuttcase said:

Wasn't expecting to see that at an OPC.

Nice low mileage .2 CS manual

https://finder.porsche.com/gb/en-GB/details/4VD4XZ...

Is there a specific reason as to why quite a few of these are not real photos of the car?

I've looked at alot of the OPC 'used' cars and have never seen this so much with any other manufacturers.

[Nuttcase]

Percy. said:

Is there a specific reason as to why quite a few of these are not real photos of the car?

I've looked at alot of the OPC 'used' cars and have never seen this so much with any other manufacturers.

I'm assuming it takes time to detail and prepare the car prior to taking the photos. Normally the configurator images are replaced with real photos within 1 to 2 weeks of initial listing.

[PinkHouse]

JZM 991.2 is now down to £121.9k

[Stanley Rous]

Tripe Bypass said:

And the Chris Harris car

https://finder.porsche.com/gb/en-GB/details/porsch...

He posted on ttter a while back that he paid £163k so at a year old and 7,000m is up at just £57k above list.

[Nuttcase]

Stanley Rous said:

He posted on ttter a while back that he paid £163k so at a year old and 7,000m is up at just £57k above list.

Wasn't it recently sold on CC? Or did it not meet the reserve? I see it now has two previous owners

[dibblecorse]

PinkHouse said:

JZM 991.2 is now down to £121.9k

I've seen that car, is stunning in the flesh, amazed its still around but having been on holiday last 3 weeks I find on my return the same c35 991 GT3s for sale, nothing seems to be moving !!!!!!

[seawise]

Nuttcase said:

Stanley Rous said:

He posted on ttter a while back that he paid £163k so at a year old and 7,000m is up at just £57k above list.

Wasn't it recently sold on CC? Or did it not meet the reserve? I see it now has two previous owners

It sold for £204 (excl comms, which is a minimum of £6k ish) early Jan on CC, so whilst Chris H might have made a £40k odd turn over list, i suspect the 2nd owner will be making a loss given OPC Mid-Sussex are now offering the car at £220k given VAT and their margin etc. Everyone needs to make a living ofc.

[Adam.]

Nuttcase said:

Nice low mileage .2 CS manual

https://finder.porsche.com/gb/en-GB/details/4VD4XZ...

Pretty uninspiring spec IMHO

[hooneybadger]

Well done on replying to this in a chilled and diplomatic fashion :thumb:

Melvynr said:

Someone on the previous page is waiting for GT cars to come into his budget and may try a Mac which is way more expensive to run, mainly servicing and warranty costs which would make his budget bigger to buy the GT.

[Digga]

dibblecorse said:

I've seen that car, is stunning in the flesh, amazed its still around but having been on holiday last 3 weeks I find on my return the same c35 991 GT3s for sale, nothing seems to be moving !!!!!!

My personal take is that the UK may well now be in recession. Hard to see another outcome as all of the chips fall; inflation and the cost of living, interest rates, taxes.

Print money for years and it’s bound to happen eventually. Welcome to the hangover party.

[franki68]

dibblecorse said:

I've seen that car, is stunning in the flesh, amazed its still around but having been on holiday last 3 weeks I find on my return the same c35 991 GT3s for sale, nothing seems to be moving !!!!!!

Nothing is selling ,had eyes on a few different makes since December and bar one or two nothing is moving .

[Adam.]

Melvynr said:

Adam. said:

And the relevance to GT3 prices?

Someone on the previous page is waiting for GT cars to come into his budget and may try a Mac which is way more expensive to run, mainly servicing and warranty costs which would make his budget bigger to buy the GT.

Fair enough, missed that. Sorry reading that back I sounded a bit abrupt

[PinkHouse]

franki68 said:

dibblecorse said:

I've seen that car, is stunning in the flesh, amazed its still around but having been on holiday last 3 weeks I find on my return the same c35 991 GT3s for sale, nothing seems to be moving !!!!!!

Nothing is selling ,had eyes on a few different makes since December and bar one or two nothing is moving .

Stock that is aggressively priced/discounted is selling. It's odd to see most indy stock is more expensive than equivalent cars at OPCs, perhaps the OPCs can absorb the lost margins more easily if they bought cars too expensive towards the end of 2022.

[ChrisW.]

Or maybe OPC's paid less than the independents (expecting to make more) and can therefore drop their prices more easily ???

Trading is tough on a falling market ... and if the better buying independents get their fingers burned, maybe they will start selling only on commission ?

[handbraketurn]

franki68 said:

dibblecorse said:

I've seen that car, is stunning in the flesh, amazed its still around but having been on holiday last 3 weeks I find on my return the same c35 991 GT3s for sale, nothing seems to be moving !!!!!!

Nothing is selling ,had eyes on a few different makes since December and bar one or two nothing is moving .

Probably because along side the price inflation, unless you're lucky enough to pay cash, the APR levels are mad.

I know a couple of people who acquired GT3s putting in large deposits down to the GFV and paying interest only, at c7% that looked like really good value, particularly when the actual value of the car hasn't moved much. But at 12 or more, not so much.

[Nuttcase]

I don't agree with the view that nothing is moving. During & after my search for a 992 GT3 I counted 17 used 992 GT3s sold from OPCs since early Feb and they are only the ones I was tracking. With the exception of 3 flipped, virtually new, <150 mile cars which were listed for >£200k, all the others were previously listed for less than £200k and some in the £18xk range. The 30+ 992 GT3s for sale now are not the exact same 30+ that were for sale 3 months ago. Even with potential recession looming, bills going up, high interest rates etc, there will always be demand for GT3s and cars that are realistically priced even in a poverty spec will sell. Those that have been sitting for a long time are priced unrealistically such as a 2021 winged, 2 owner, few thousand miles listed for £206k

[dibblecorse]

Nuttcase said:

I don't agree with the view that nothing is moving. During & after my search for a 992 GT3 I counted 17 used 992 GT3s sold from OPCs since early Feb and they are only the ones I was tracking. With the exception of 3 flipped, virtually new, <150 mile cars which were listed for >£200k, all the others were previously listed for less than £200k and some in the £18xk range. The 30+ 992 GT3s for sale now are not the exact same 30+ that were for sale 3 months ago. Even with potential recession looming, bills going up, high interest rates etc, there will always be demand for GT3s and cars that are realistically priced even in a poverty spec will sell. Those that have been sitting for a long time are priced unrealistically such as a 2021 winged, 2 owner, few thousand miles listed for £206k

That may be true of the 992, but my search and info is based on the 991.1 and .2 and its all the same cars virtually with almost no price changes.

[gt4rs.wp]

1 owner 991.2 manual , PCCB, CS, lift etc cars are fairly rare, I was offered one at £160, sold in 24 hrs.

[john-j4ty0]

gt4rs.wp said:

1 owner 991.2 manual , PCCB, CS, lift etc cars are fairly rare, I was offered one at £160, sold in 24 hrs.

this seems a steal then in todays market ? https://www.pistonheads.com/buy/listing/14889651 although ridiculously high mileage ....why would anyone do that to a car

[gd]

handbraketurn said:

Probably because along side the price inflation, unless you're lucky enough to pay cash, the APR levels are mad.

I know a couple of people who acquired GT3s putting in large deposits down to the GFV and paying interest only, at c7% that looked like really good value, particularly when the actual value of the car hasn't moved much. But at 12 or more, not so much.

I have to disagree. Interest rates are returning to long term averages, and Porsche/VW Finance rates are also returning to where they were in the mid 2000's, before all the madness started. We've had 10-15 years ot ridiculously low interest rates that have properly bent the economy out of shape, and produced house price inflation and an insane overs market for in-demand cars due to cheap money. With the cost of money returning to normal levels I'm looking forward to the unwiding of these positions, including a reduction in demand for expensive cars that leads to price normalisation.

Unfortunately a lot of people that haven't been around for long enough think that a 5% BoE base rate/10% bank loan is high and that it will come back down again soon. I wouldn't hold your breath.