GT3 prices going up
Discussion
both .1 and .2 models seem to still holding strong prices ( or rather the advertised sale prices ) but just this last week quite a few more .2 cars being advertised ... is this the rush before the market cools after summer and the pending doom of interest inflation and election or a just few lucky ones trading in for their 992 allocations?
Carlton Banks said:
Is a 997.2 GT3 a good buy at the moment?
Seem to be £110-150k
Will these Porsches hold in the long term?
Used 922 GT3’s are £100k over ticket price and that can’t last forever. It’s not sustainable. As the numbers of the 992 GT3 orders fulfilled increase = the more used choice = sudden depreciation off a cliff = bringing down all the 992 range and collateral damage to the 991 range.Seem to be £110-150k
Will these Porsches hold in the long term?
However I don’t think that will effect the 997 range as it is the former two, especially the 992 that is so £overegged.
I foresee the 997.2 GT3 being a £200k+ car by end of decade.
That_White_GT3 said:
I ended up with steels as well, i would have been happy with either to be honest but as mentioned for 99% of instances steels are more than good enough. A friend had PCCB and on track and up to temp they are very good. Seems PCCBs are alot more common on .2 than .1 GT3, brake dust however is annoying and especially with silver wheels.
So much want for this, though I’d need to sell my CSL as I think they’d be too similar. john-j4ty0 said:
both .1 and .2 models seem to still holding strong prices ( or rather the advertised sale prices ) but just this last week quite a few more .2 cars being advertised ... is this the rush before the market cools after summer and the pending doom of interest inflation and election or a just few lucky ones trading in for their 992 allocations?
Very few 992 GT3s coming through for the UK helping boosting prices rise for the 991.2 back to £30k over list and in turn the 991.1 both of which are now at all time highs which was correctly forcasted last year.Very few cars in the OPC network particularly of the right spec miles and low owners and most OPCs including mine have a list of buyers wanting to buy the right cars which are selling quickly at up to £160k which coincidentally is where they were 3 years back in 2019 at 1 year old and 2k miles.
The possible pending economic tightening will have very little affect on the limited run medium to high end car market such as GT3s simply because of the restricted supply of quality used and new stock and huge price rises don't forget the latest price rise to £135k basic of the 992 (up from £127k) if you can even get one I'm still waiting for mine but don't expect it to better the 991.2 as a sweetspot Porsche GT package tbh.
av185 said:
The possible pending economic tightening will have very little affect on the limited run medium to high end car market such as GT3s simply because of the restricted supply of quality used and new stock
Restricted supply? You've got to be joking. Classifieds rammed with late model low mile and no mile GT cars. Far easier to get one that, say, a decent 993 C2.And even with production issues, new supply still at least an order of magnitude more than 997 era, let alone 996 era GT cars. All the historical evidence says if there is a proper recession, it'll hammer the premium car market. It always has in the past and with supply of high end cars so much higher now than when previous recessions hit, that only makes it more likely.
Carlton Banks said:
Is a 997.2 GT3 a good buy at the moment?
Seem to be £110-150k
Will these Porsches hold in the long term?
Can't comment on the investment angle as don't see these cars as investments. But as a value prop, I'd say they are fantastic. I'd rather have a 997.2 GT3 than any of the later model GT cars, personally. 997.2 have obviously gone up, but still very cheap compared to a 991.2 Touring or a 992. Ditto if you think about what kind of aircooled 911 the same money buys.Seem to be £110-150k
Will these Porsches hold in the long term?
esotericar said:
av185 said:
The possible pending economic tightening will have very little affect on the limited run medium to high end car market such as GT3s simply because of the restricted supply of quality used and new stock
Restricted supply? You've got to be joking. Classifieds rammed with late model low mile and no mile GT cars. Far easier to get one that, say, a decent 993 C2.And even with production issues, new supply still at least an order of magnitude more than 997 era, let alone 996 era GT cars. All the historical evidence says if there is a proper recession, it'll hammer the premium car market. It always has in the past and with supply of high end cars so much higher now than when previous recessions hit, that only makes it more likely.
And keeping the thread on topic two of my 3 OPCs have only received a handful of 992 GT3s and there appears to be an increasing likelihood mine won't even be made.
Check out the number of proper spec mileage and low owner particularly manual 2018 18 GT3s for sale in the OPC network and there aren't any. Which further confirms my point.
av185 said:
So if the supply of 991 and newer Porsche GTs is as high as you incorrectly claim
It's an objective fact that Porsche built hugely more GT cars from 991.1 onwards. 991.1 GT cars alone add up to about the same volume as all previous GT cars combined. Then add 991.2 derivatives and now 992.If you want to claim a given model is rare because there are none with the correct colour deviated stitching, that doesn't change the real facts of production numbers which are hugely more from 991.1 onwards. The same applies to other brands like Lambo, plus new brands coming into the market like McLaren. The supply of late model low mile and no mile kit available is massive. There's been a very short term supply pinch just recently due to pandemic and Ukraine-related issues. But that is normalising, while the other objective fact is that previous recessions have hollowed out the premium car market. It's possible the premium car market could somehow prove immune to a major recession this time around, but that's an extraordinary claim that would require extraordinary evidence.
It doesn't take a huge shift on the demand side to see prices of a given product or commodity tumble. There are an awful, awful lot of late model GT cars around. If interest rates spike, personally think the market will be hammered.
I think that the high end car market will take the biggest hit when the recession comes . It’s such a ridiculous bubble not one built on the ‘asset’ but one built on finance . People keep buying these cars because they believe the price is going up and it has. Once the values fall it will be like a house of cards , as suddenly people will own depreciating assets and have assumed that won’t happen .
It could be carnage like it was last time.
It could be carnage like it was last time.
av185 said:
So if the supply of 991 and newer Porsche GTs is as high as you incorrectly claim then it is clearly even more incredible that prices of both new and used have risen so much and that 992 GT3s are selling at £225k+ indeed at such high prices and £75k+ premiums over list price previously unheard of.
And keeping the thread on topic two of my 3 OPCs have only received a handful of 992 GT3s and there appears to be an increasing likelihood mine won't even be made.
Check out the number of proper spec mileage and low owner particularly manual 2018 18 GT3s for sale in the OPC network and there aren't any. Which further confirms my point.
If i recall correct there were 667 x 991.2 GT3s, for the UK that includes the Touring option cars, once all the dust settles as it were due to delays with parts supplies etc say for Q1 next year, including the 170s wing GT3 supplied last year, IMO, I would expect the 992GT3s to comfortably exceed the above amount, not to say that there is not the demand for them. Also dont forget its the normal to see around 10% of cars supplied up for sale at any one time, even more so for cars coming back in for the RS.And keeping the thread on topic two of my 3 OPCs have only received a handful of 992 GT3s and there appears to be an increasing likelihood mine won't even be made.
Check out the number of proper spec mileage and low owner particularly manual 2018 18 GT3s for sale in the OPC network and there aren't any. Which further confirms my point.
Price wise for 991.2 GT3s, friend sold wing PDK CS car back to OPC last week 9K miles, needed new tyres and Pads, he got 144k.
Edited by APOLO1 on Tuesday 12th July 12:00
esotericar said:
av185 said:
So if the supply of 991 and newer Porsche GTs is as high as you incorrectly claim
It's an objective fact that Porsche built hugely more GT cars from 991.1 onwards. 991.1 GT cars alone add up to about the same volume as all previous GT cars combined. Then add 991.2 derivatives and now 992.If you want to claim a given model is rare because there are none with the correct colour deviated stitching, that doesn't change the real facts of production numbers which are hugely more from 991.1 onwards. The same applies to other brands like Lambo, plus new brands coming into the market like McLaren. The supply of late model low mile and no mile kit available is massive. There's been a very short term supply pinch just recently due to pandemic and Ukraine-related issues. But that is normalising, while the other objective fact is that previous recessions have hollowed out the premium car market. It's possible the premium car market could somehow prove immune to a major recession this time around, but that's an extraordinary claim that would require extraordinary evidence.
It doesn't take a huge shift on the demand side to see prices of a given product or commodity tumble. There are an awful, awful lot of late model GT cars around. If interest rates spike, personally think the market will be hammered.
Deanmg said:
Well i brought my 2018 .2 GT3 when it was six months old when prices where high.
Most on here were predicting them at under £100k by the end of 2019.
Presumably those very same 'experts' who predicted both the 991.1 GT3 and 981 GT4 would be under list by 2016 at 12 months old but currently at 7 years old are still retailing over list. Most on here were predicting them at under £100k by the end of 2019.
av185 said:
Deanmg said:
Well i brought my 2018 .2 GT3 when it was six months old when prices where high.
Most on here were predicting them at under £100k by the end of 2019.
Presumably those very same 'experts' who predicted both the 991.1 GT3 and 981 GT4 would be under list by 2016 at 12 months old but currently at 7 years old are still retailing over list. Most on here were predicting them at under £100k by the end of 2019.
Digga said:
Well, this sort of thing is going to do no harm to GT3 prices:
High praise indeed. Lack of supply is pulling the latest GT3 prices up and it seems, increasingly, growing appreciation for the OG 996 platform is pushing it up from the bottom.
What people need to remember is the current GT3 and soon coming RS are going to be the last NA GT3's I believe, the next ones will be some form of hybrid potentially, the end of ICE cars is getting closer and closer, plus the supply of GT3's on the market in any flavour is always slim pickings.High praise indeed. Lack of supply is pulling the latest GT3 prices up and it seems, increasingly, growing appreciation for the OG 996 platform is pushing it up from the bottom.
Even if and when recession comes will truly special cars like a GT3 see a big drop, I think not, they will likely hold or even go up.
A lot of people buying cars are now buying as their forever cars, the newer stuff has become less interesting to many as they want a fun road car, not a numbers car and that is why the older stuff in particular has seen a real big boost in values because they simply provide more fun at the slower speeds and as our roads have more cameras than ever people want the fun cars at legal speeds.
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