997 GTS prices dropping

[jackliebling]

Dear all

Sorry to start a price thread but I had justified my purchase of a 997GTS 18 months ago (for good OPC price of 57k) on the grounds that it was a safe place to put my money. Whoops...

I keep an eye on the GTS market and it seems that in the last 6 months the prices have dropped significantly. A while ago, only high milers were below £60k, the mid price now seems to be about 56k for good examples, and 65k for exceptional low mile / high spec ones.

Is this now the trend for the 997 GTS, downward trajectory? I'm now worrying that I should sell it to secure my money. Or will the prices rally?

I think good ones for mid 50k are very good value...

Thanks for opinions...
J

[Porsche911R]

Sell it

[chrisABP]

PDK cars have been fairly static for around 2 years now but this time of the year they always drop off slightly.

Manual cars are still being advertised (and selling) for £70k+ but as they rarely come up for sale there isn't such a spread to base any movement on.

Don't base your selling decision purely on price - the 997 GTS is a great car so drive it and enjoy it. Cars should never be seen as a 'safe' place for your money and will always depreciate in the 'real' World. Recent times have somewhat muddied that reality!

Edited by chrisABP on Friday 28th September 09:08

[v8ksn]

If you can afford to stomach the normal depreciation keep it

If you cant afford to lose cash sell it

Before you sell it (if you decide to) think about what you will replace it with? The 997 GTS is a great car that is a joy to drive.

As a side note, prices for all cars tend to soften with the arrival of Autumn and Winter.

[g7jhp]

It's a modern Porsche that isn't 'the latest' or 'classic' so it's finding it's price point. Expect it will drop slightly in the short term before firming up.

You're looking at asking prices so you're likely to lose some more on those especially if you sell to the trade or SOR.

[The Surveyor]

jackliebling said:

...….
Is this now the trend for the 997 GTS,
……..

To be fair, its a trend with most high-value cars. Just take a look at the number of Aston Martins, Ferrari, Lamborghini, and McLaren there are in the classified these days and you'll see that the days of cars being 'investments' is now limited to only a few 'halo' cars.

[Porsche911R]

chrisABP said:

PDK cars have been fairly static for around 2 years now but this time of the year they always drop off slightly.

Manual cars are still being advertised (and selling) for £70k+ but as they rarely come up for sale there isn't such a spread to base any movement on.

Don't base your selling decision purely on price - the 997 GTS is a great car so drive it and enjoy it.

Hexagon have had the £69k manual 26k mile car for about 14 months, and still have it ! very nice car that also.

the very odd car sells for £70k if it had buckets or aero kit etc and uber low miles, but to sell today £65k for manual sub 30k mile cars and £10k less for PDK as can be seen with the PDK dropping more now, gen 1 PDK is not sort after, it is what it is and will just keep dropping.

I see 911V are not selling theirs at £74K but that was a given and we gave the seller advice before he went, normally a manual GTS is reserved the same day if not within the week.

bit like the forum saying Cayman R selling at £50k(because a one off car did) which again is a pipe dream, the GTS is not selling at £70k at all.

All we have now is more cars on the market at prices the market will not back up.

Hexagon are top tier prices and that's worked well for them as the market comes to them In the end the last 5 years, in a falling market they might need to rethink their car prices ! the stock is very stale !

In Manual an R is a £45k car and the GTS a £65k car imho backed up by sales and people dropping prices ! but both might be sure fire money in the bank if you add zero miles to them and store them ;-) and that's the rub with the top end price model, the moneys in the miles ! but there seems no buyers about atm

[EGTE]

The Surveyor said:

jackliebling said:

...….
Is this now the trend for the 997 GTS,
……..

To be fair, its a trend with most cars.

FTFY :-)

Seems Porsche guys forget this, somehow.

[TDT]

Cars depreciate... 997 GTS is now 7 years old - has been through a values drop - slight rise and now will drop again - as they are older and also price drops are seasonal.

Stop watching the market. Its not a Stock. Its a car... Drive it or just sell it.

Wish this post was 'I've just had the day/week of my life driving this fantastic car, here is my journal complete with pics'.

[KEVS500]

Just the two coupes at OPCs currently; £65k and £80k. Both PDK. Neither top spec.
That's a higher asking price than 2014. Not many around and not cheap! I don't know where you'd find a good spec lowish miles warranted car for £55k?

[Andyandyhall]

It's the same for pretty much everything, investors seem to have pulled away from the classic market and new car 'flippers' are having a much tougher time. Speak to anyone in the industry and they will tell you the market is nothing like 12 months back. It looks like a more normal depreciation pattern has resumed.

[Cheib]

Market is definitely off....turn of the year PDK 997 GTS were £70k at OPC's with Manual cars a few £k more. A dealer offered me s punchy £67k unsolicited for my manual GTS earlier this year (30k mile car but with the right spec apart from buckets)...I reckon a dealer would probably offer me £60k for it now...if I was lucky.

Going forward I think the GTS that will hold it's value is the Manual....with the Powerkit engine it offers a particularly nice combination that won't date. The PDK is out of date already and will age like all other automatic/dual clutch/flappy paddle transmissions do. Currently manual gearbox is probably worth £5k more (there wasn't a premium 2 years ago), I reckon that premium is only going one way whether prices go up or down!

[icekay]

TDT said:

Cars depreciate... 997 GTS is now 7 years old - has been through a values drop - slight rise and now will drop again - as they are older and also price drops are seasonal.

Stop watching the market. Its not a Stock. Its a car... Drive it or just sell it.

Wish this post was 'I've just had the day/week of my life driving this fantastic car, here is my journal complete with pics'.

I got mine in January for 64k with 25k miles, was advised to do around 2k a year to keep its value. I got it on condition rather than mileage which so far (knock on wood) has proven to be worth it.

In 9 months it's seen 10k miles of epic trips, to some it probably lost a ton of its value, to me it gave me the best year of motoring in my life, been our dream car on dream roads.

Pic below is from our current trip round the alps (Furka pass), we did the Grossglockner yesterday and had an absolute blast!

[supersport]

^^^^ That’s more like it.

[GT4RS]

If you bought the gts to drive and enjoy, keep it. If you bought the gts as a salesman told you it’s a safe investment and won’t loose you any money I would suggest selling it now as the whole market appears to be in the start of a price correction.

It’s not just Porsche GTS models which are falling in price.

If your in it for the money sell.

If your in for the pleasure of driving and couldn't care if it falls to 40k keep it.

Many who are in it for the money have already jumped ship.

[Green1man]

jackliebling said:

Dear all

Sorry to start a price thread but I had justified my purchase of a 997GTS 18 months ago (for good OPC price of 57k) on the grounds that it was a safe place to put my money. Whoops...

I keep an eye on the GTS market and it seems that in the last 6 months the prices have dropped significantly. A while ago, only high milers were below £60k, the mid price now seems to be about 56k for good examples, and 65k for exceptional low mile / high spec ones.

Is this now the trend for the 997 GTS, downward trajectory? I'm now worrying that I should sell it to secure my money. Or will the prices rally?

I think good ones for mid 50k are very good value...

Thanks for opinions...
J

So you bought 18 months ago for £57k and now a mid price for a good example is £56k and you are complaining about price drops?

[GT4RS]

Green1man said:

jackliebling said:

Dear all

Sorry to start a price thread but I had justified my purchase of a 997GTS 18 months ago (for good OPC price of 57k) on the grounds that it was a safe place to put my money. Whoops...

I keep an eye on the GTS market and it seems that in the last 6 months the prices have dropped significantly. A while ago, only high milers were below £60k, the mid price now seems to be about 56k for good examples, and 65k for exceptional low mile / high spec ones.

Is this now the trend for the 997 GTS, downward trajectory? I'm now worrying that I should sell it to secure my money. Or will the prices rally?

I think good ones for mid 50k are very good value...

Thanks for opinions...
J

So you bought 18 months ago for £57k and now a mid price for a good example is £56k and you are complaining about price drops?

I’m reading this slightly different, I think the original poster is concerned that this car isn’t a safe place to put his money, unlike what he first thought. He says he bought at £57k and now good cars sell for £56k, with this is in mind he is already 1k behind and that’s before he gets offered a trade in price which will be around 8k to 10k less depending on prep required. So technically he’s already lost around 10k on what was supposed to be a safe investment.

He also needs to be carefully as the GTS model is becoming more common on a Porsche, it appears to be the current go to spec for anyone who’s thought in detail about trim level.

[RSVP911]

GT4RS said:

Green1man said:

jackliebling said:

Dear all

Sorry to start a price thread but I had justified my purchase of a 997GTS 18 months ago (for good OPC price of 57k) on the grounds that it was a safe place to put my money. Whoops...

I keep an eye on the GTS market and it seems that in the last 6 months the prices have dropped significantly. A while ago, only high milers were below £60k, the mid price now seems to be about 56k for good examples, and 65k for exceptional low mile / high spec ones.

Is this now the trend for the 997 GTS, downward trajectory? I'm now worrying that I should sell it to secure my money. Or will the prices rally?

I think good ones for mid 50k are very good value...

Thanks for opinions...
J

So you bought 18 months ago for £57k and now a mid price for a good example is £56k and you are complaining about price drops?

I’m reading this slightly different, I think the original poster is concerned that this car isn’t a safe place to put his money, unlike what he first thought. He says he bought at £57k and now good cars sell for £56k, with this is in mind he is already 1k behind and that’s before he gets offered a trade in price which will be around 8k to 10k less depending on prep required. So technically he’s already lost around 10k on what was supposed to be a safe investment.

He also needs to be carefully as the GTS model is becoming more common on a Porsche, it appears to be the current go to spec for anyone who’s thought in detail about trim level.

It’s buzarre I think that people don’t factor in the dealer margin and prep - how else are they supposed to make a living - every car loses this the second a key is turned - fair enough

[c4sman]

TDT said:

Cars depreciate... 997 GTS is now 7 years old - has been through a values drop - slight rise and now will drop again - as they are older and also price drops are seasonal.

Stop watching the market. Its not a Stock. Its a car... Drive it or just sell it.

Wish this post was 'I've just had the day/week of my life driving this fantastic car, here is my journal complete with pics'.

My mint GTS manual coupe has 26k miles and I am increasingly reluctant to drive it due to mileage heading towards 30k miles impacting the value........ NOT!

I totally agree with the above post. I am 4.5 years into ownership, went for a blast in the car on Sunday morning and it was wonderful. I take every opportunity to drive it whenever time allows. Had a convoy with a nice 993 coupe piloted by someone who enjoyed roundabouts .

I can understand that if you are planning to keep cars a short period of time then not many can afford a big bath, however losing £10k over a couple of years on a high value car needs to be something you are not afraid of if you are playing in this market. Taking into account dealer margins and depreciation, it is to be expected and is a nice surprise if it is less or reversed.

If you're thinking too much about it, sell it, life is too short. A market correction could wipe much more off the value than £10k. Otherwise get out and enjoy what is to me a sweet spot as one of the greatest road focused 911s ever built, or will be built.

[flying scotsman]

After a house move in May I now commute from south of Tunbridge Wells to Gatwick 4-6 times a week, 100 miles a day. I have decided to ignore value and until the snow comes my PDK cabrio is comfortable enough plus 30mpg is achievable and the last 5 miles of country roads each day are alive with the sound of GTS with bypass pipes. Just past 61k miles today, 17000 miles in 14 months. Happy times.