How long is to long for a GT to be advertised for sale?

[GT4RS]

Has anyone else wondered how long is to long for a GT to be advertised for sale before its remembered by many as the car with a OTT asking price.

The only reason I ask is certain 997 gt cars have been advertised for over a year and still not sold.

I could easily list a few cars which have been for sale for over a 12 month and not sold due to their interesting asking prices, wouldn’t It be common sense for the owner to think yes I had a go at silly price but now it may be time to tweak the price slightly??? Or do people just not care if they sell??

[Porsche911R]

Wife
“Can you put that old car up for sale please and buy a Macan for us both”

GT3 owning husband.
“ yes dear no problem”

[anonymous-user]

im not sure most folks that are in the market at any point in time have been tracking prices as diligently as others

[GT4RS]

Porsche911R said:

Wife
“Can you put that old car up for sale please and buy a Macan for us both”

GT3 owning husband.
“ yes dear no problem”

I know of a boat which is for sale like that!

Maybe I answered my own question 😬

[GT4RS]

[quote=RC1]im not sure most folks that are in the market at any point in time have been tracking prices as diligently as others[/quote

Many owners follow prices, to some its part of the ownership. It doesn’t just apply to Porsche’s or cars with that matter.

Have a friend who collects certain age Ducati’s, the chap breaths the things and even knows many limited edition bikes by there build number. The second one pops up for sale it’s like he has a crystal ball!

[Cheib]

This GT2 has been for sale got getting on for a year....was first on sale with JZM for similar money to now last summer. Then disappeared to go up for auction last autumn...”hammered” at something like £90k and marked as sold and which then got shown as a “no sale” a few days later. Now back at JZM for the last couple of months and still the wrong price. GT2’s are without doubt the hardest GT cars to sell. Unlike GT2 RS which is the exact opposite !

https://www.jzmporsche.com/used-vehicle-details/Po...

Hexagon would be the masters of patience when it comes to selling cars though...they easily carry stock for a year or more...a couple of the current cars have easily been there that long.

[GT4RS]

Cheib said:

This GT2 has been for sale got getting on for a year....was first on sale with JZM for similar money to now last summer. Then disappeared to go up for auction last autumn...”hammered” at something like £90k and marked as sold and which then got shown as a “no sale” a few days later. Now back at JZM for the last couple of months and still the wrong price. GT2’s are without doubt the hardest GT cars to sell. Unlike GT2 RS which is the exact opposite !

https://www.jzmporsche.com/used-vehicle-details/Po...

Hexagon would be the masters of patience when it comes to selling cars though...they easily carry stock for a year or more...a couple of the current cars have easily been there that long.

Cheib, this is a perfect example. I remember seeing it auctioned and then discussed. If it didn’t sell for 90k at auction why does the owner and Jzm think it will now sell for £60k more.

Just doesn’t make sense to me, another example would be the 997 Gt3 at hexagon or the non stickered white 130k 997 Gt3 rs which was auctioned off a year ago for 100k and has been for sale ever since for 30k more.

[Superleg48]

It is not just Porsches. There are lots of these types of cars across many marques that are way too optimistically priced. Pretty much all will be SOR cars with owners who have unrealistic expectations of what their cars are worth. The market will be dropping across the board over the next 12-18 months, so this “problem” will only get worse as owners remain in denial.

Auctions are the best barometer of where things are at.

[SidewaysSi]

GT4RS said:

RC1 said:

im not sure most folks that are in the market at any point in time have been tracking prices as diligently as others[/quote

Many owners follow prices, to some its part of the ownership. It doesn’t just apply to Porsche’s or cars with that matter.

Have a friend who collects certain age Ducati’s, the chap breaths the things and even knows many limited edition bikes by there build number. The second one pops up for sale it’s like he has a crystal ball!

He can't be getting laid.

[GT4RS]

Superleg48 said:

It is not just Porsches. There are lots of these types of cars across many marques that are way too optimistically priced. Pretty much all will be SOR cars with owners who have unrealistic expectations of what their cars are worth. The market will be dropping across the board over the next 12-18 months, so this “problem” will only get worse as owners remain in denial.

Auctions are the best barometer of where things are at.

I’ve always felt auction prices give a true reflection on specialist cars and bikes, be interesting is see how the auctions kick off once they are back open properly after covid settles.

I would have to agree with your SOR comment, the bit which confuses me is if a owner really wants to sell it worse has to sell they are not helping themselves with these crazy stagnant SOR prices, wouldn’t a owner be better ofF putting a car up for sale privately at a sensible price .

[Superleg48]

GT4RS said:

I’ve always felt auction prices give a true reflection on specialist cars and bikes, be interesting is see how the auctions kick off once they are back open properly after covid settles.

I would have to agree with your SOR comment, the bit which confuses me is if a owner really wants to sell it worse has to sell they are not helping themselves with these crazy stagnant SOR prices, wouldn’t a owner be better ofF putting a car up for sale privately at a sensible price .

Yes they would. However that is exactly the problem. Owners believe their cars are worth more than they are as they wallow in denial and misplaced optimism. A car is only worth only what someone will pay you for it. If your car has been up for sale for longer than say 3-4 months, either the car is undesirable and nobody wants it or you are dreaming about your assessment of its value, if they do.

I have even seen people on this very forum attempt to talk up the value of their car. I have also seen some realistic assessments of what people’s cars were worth say 12 months ago and what they might expect to get for it now. But the latter are in the minority.

[GT4RS]

Yes I do agree certain owners get a tad carried away with the valuations when trying to sell. It wouldn’t shock me if this private sale car is one to please the wife and not really for sale as it Around 25% over priced.

https://www.pistonheads.com/classifieds/used-cars/...

It’s been up over 6 months, at a number of different prices, even ended up on eBay at one point but sub 100k, think it was 95k, then it suddenly shot up to 105k on Pistonheads only to not sell, it then reappeared again but this time at 100k and now been up for some time.

Can only guess he has no real interest in selling it or maybe he likes how the hexagon pricing strategy works and he’s giving that a go.

Surely it’s a 80k car at best at retail considering the seats, so private sale around £75k.

I do like some of the older generation Ducati’s and the same thing is happening with these. Asking prices and real sealing prices are somewhat a distance away at the moment.

[Porsche911R]

GT4RS said:

Yes I do agree certain owners get a tad carried away with the valuations when trying to sell. It wouldn’t shock me if this private sale car is one to please the wife and not really for sale as it Around 25% over priced.

https://www.pistonheads.com/classifieds/used-cars/...

It’s been up over 6 months, at a number of different prices, even ended up on eBay at one point but sub 100k, think it was 95k, then it suddenly shot up to 105k on Pistonheads only to not sell, it then reappeared again but this time at 100k and now been up for some time.

Can only guess he has no real interest in selling it or maybe he likes how the hexagon pricing strategy works and he’s giving that a go.

Surely it’s a 80k car at best at retail considering the seats, so private sale around £75k.

I do like some of the older generation Ducati’s and the same thing is happening with these. Asking prices and real sealing prices are somewhat a distance away at the moment.

Private vs dealer really makes no odds on these cars, you can get full retail money selling private or within £2k of retail.

But yes it's over priced, I would pay, £87k for it to own and keep.
The low 10k justifies me being happy to pay £87k.

Your values are way too low as normal :-) wishful thinking.

Edited by Porsche911R on Sunday 14th June 11:01

[GT4RS]

Superleg48 said:

GT4RS said:

I’ve always felt auction prices give a true reflection on specialist cars and bikes, be interesting is see how the auctions kick off once they are back open properly after covid settles.

I would have to agree with your SOR comment, the bit which confuses me is if a owner really wants to sell it worse has to sell they are not helping themselves with these crazy stagnant SOR prices, wouldn’t a owner be better ofF putting a car up for sale privately at a sensible price .

Yes they would. However that is exactly the problem. Owners believe their cars are worth more than they are as they wallow in denial and misplaced optimism. A car is only worth only what someone will pay you for it. If your car has been up for sale for longer than say 3-4 months, either the car is undesirable and nobody wants it or you are dreaming about your assessment of its value, if they do.

I have even seen people on this very forum attempt to talk up the value of their car. I have also seen some realistic assessments of what people’s cars were worth say 12 months ago and what they might expect to get for it now. But the latter are in the minority.

I’m not sure by people talking prices up or down on this forum will make any difference to market selling prices, I believe recent auction hammer prices give a good understanding of real life values. Take for instance the burgundy 997gt2 Jzm are now trying to sell at 150k, it didn’t sell at a recent auction for 90k so why on earth is it now worth £150k! Imo the seller of the Burgundy 997gt2 is now running out of options if Jzm are unable to move it on and its not like Jzm are going to offer 140k for it given there recent bid / attempt to buy of the 996gt3 rs which sold on collecting cars for £115k with fees, didn’t they offer the owner something like 88k for it. That says to me they haven’t any confidence in the market right now.

[Superleg48]

GT4RS said:

Superleg48 said:

GT4RS said:

I’ve always felt auction prices give a true reflection on specialist cars and bikes, be interesting is see how the auctions kick off once they are back open properly after covid settles.

I would have to agree with your SOR comment, the bit which confuses me is if a owner really wants to sell it worse has to sell they are not helping themselves with these crazy stagnant SOR prices, wouldn’t a owner be better ofF putting a car up for sale privately at a sensible price .

Yes they would. However that is exactly the problem. Owners believe their cars are worth more than they are as they wallow in denial and misplaced optimism. A car is only worth only what someone will pay you for it. If your car has been up for sale for longer than say 3-4 months, either the car is undesirable and nobody wants it or you are dreaming about your assessment of its value, if they do.

I have even seen people on this very forum attempt to talk up the value of their car. I have also seen some realistic assessments of what people’s cars were worth say 12 months ago and what they might expect to get for it now. But the latter are in the minority.

I’m not sure by people talking prices up or down on this forum will make any difference to market selling prices, I believe recent auction hammer prices give a good understanding of real life values. Take for instance the burgundy 997gt2 Jzm are now trying to sell at 150k, it didn’t sell at a recent auction for 90k so why on earth is it now worth £150k! Imo the seller of the Burgundy 997gt2 is now running out of options if Jzm are unable to move it on and its not like Jzm are going to offer 140k for it given there recent bid / attempt to buy of the 996gt3 rs which sold on collecting cars for £115k with fees, didn’t they offer the owner something like 88k for it. That says to me they haven’t any confidence in the market right now.

Of course it won’t make any difference. Doesn’t stop people attempting to do so, plus it really does highlight the denial that people are in about where the markets are really at and what their cars are really worth.

My Gallardo LP570-4 Superleggera, in Giallo Midas with every option, would likely have sold 12 months ago for around £125k after negotiation with a sticker price on an SOR basis of around £130k. Today, I would be very very lucky to see £100k IMO. I would expect maybe £90k as a realistic price to sell, especially privately. Consider the values of these cars have been fairly static for some years and already the market is impacting hard. There are a couple of 570-4s for sale, both coupe and spider at still optimistic prices and they are sitting. Hence my assessment of the value of mine. The cheapest are around £110k and are not moving.

For me it is immaterial as I have no plans to sell it, but if I was, that would be where I would expect to be.

[GT4RS]

Superleg48 said:

GT4RS said:

Superleg48 said:

GT4RS said:

I’ve always felt auction prices give a true reflection on specialist cars and bikes, be interesting is see how the auctions kick off once they are back open properly after covid settles.

I would have to agree with your SOR comment, the bit which confuses me is if a owner really wants to sell it worse has to sell they are not helping themselves with these crazy stagnant SOR prices, wouldn’t a owner be better ofF putting a car up for sale privately at a sensible price .

Yes they would. However that is exactly the problem. Owners believe their cars are worth more than they are as they wallow in denial and misplaced optimism. A car is only worth only what someone will pay you for it. If your car has been up for sale for longer than say 3-4 months, either the car is undesirable and nobody wants it or you are dreaming about your assessment of its value, if they do.

I have even seen people on this very forum attempt to talk up the value of their car. I have also seen some realistic assessments of what people’s cars were worth say 12 months ago and what they might expect to get for it now. But the latter are in the minority.

I’m not sure by people talking prices up or down on this forum will make any difference to market selling prices, I believe recent auction hammer prices give a good understanding of real life values. Take for instance the burgundy 997gt2 Jzm are now trying to sell at 150k, it didn’t sell at a recent auction for 90k so why on earth is it now worth £150k! Imo the seller of the Burgundy 997gt2 is now running out of options if Jzm are unable to move it on and its not like Jzm are going to offer 140k for it given there recent bid / attempt to buy of the 996gt3 rs which sold on collecting cars for £115k with fees, didn’t they offer the owner something like 88k for it. That says to me they haven’t any confidence in the market right now.

Of course it won’t make any difference. Doesn’t stop people attempting to do so, plus it really does highlight the denial that people are in about where the markets are really at and what their cars are really worth.

My Gallardo LP570-4 Superleggera, in Giallo Midas with every option, would likely have sold 12 months ago for around £125k after negotiation with a sticker price on an SOR basis of around £130k. Today, I would be very very lucky to see £100k IMO. I would expect maybe £90k as a realistic price to sell, especially privately. Consider the values of these cars have been fairly static for some years and already the market is impacting hard. There are a couple of 570-4s for sale, both coupe and spider at still optimistic prices and they are sitting. Hence my assessment of the value of mine. The cheapest are around £110k and are not moving.

For me it is immaterial as I have no plans to sell it, but if I was, that would be where I would expect to be.

Totally agree, we are all in the same boat. My 911.2 has dropped quite a bit recently.

Interestingly a car I have my eye on just had 5k wiped off its asking price and it’s only been up a few months. My view is it’s still to expensive as it was way over priced from the start.

Certain cars just aren’t selling at the rate they used to.

[GT4RS]

Porsche911R said:

GT4RS said:

Yes I do agree certain owners get a tad carried away with the valuations when trying to sell. It wouldn’t shock me if this private sale car is one to please the wife and not really for sale as it Around 25% over priced.

https://www.pistonheads.com/classifieds/used-cars/...

It’s been up over 6 months, at a number of different prices, even ended up on eBay at one point but sub 100k, think it was 95k, then it suddenly shot up to 105k on Pistonheads only to not sell, it then reappeared again but this time at 100k and now been up for some time.

Can only guess he has no real interest in selling it or maybe he likes how the hexagon pricing strategy works and he’s giving that a go.

Surely it’s a 80k car at best at retail considering the seats, so private sale around £75k.

I do like some of the older generation Ducati’s and the same thing is happening with these. Asking prices and real sealing prices are somewhat a distance away at the moment.

Private vs dealer really makes no odds on these cars, you can get full retail money selling private or within £2k of retail.

But yes it's over priced, I would pay, £87k for it to own and keep.
The low 10k justifies me being happy to pay £87k.

Your values are way too low as normal :-) wishful thinking.

Edited by Porsche911R on Sunday 14th June 11:01

I have to disagree, the spread between a dealer and a private sale on that car isn’t anywhere near 2k, If they were that easy to sell privately for top money the likes of Jzm and Ashgoods wouldn’t have a business.

Imo an OPC putting their own money into it would want at least 10k in it to cover prep, service, warranty etc. They also need to factor a further margin in given the length of time these things sit for sale for. No OPC would bid £85k for that car, they would bid low 70s at best.

If I was you I would put your offer of £87k forward, as the same seller had it up on eBay for sale at £95k god knows how long ago. You never know you may end up with a Red 997.2 Gt3 in your garage and you have said you would like a 997.3 Gt3 for a around 80k in the past

Forgetting the asking price the car does look lovely and original.