Appreciating asset - '89 carrera - discuss

[Black_mamba]

Dear All
I need some help and advice. I have an '89 Carrera, which was my first foray into Porsche ownership, it was a daily driver but in very good nick and well maintained by me and the previous army of owners. I recently bought a low mileage '97 993 targa which ticks all the boxes, and the black mamba was polished to within an inch of its life and resigned to the garage with every intention to sell at the earliest opportunity.....however.....its still there 3 moths later!

Now Mrs Mamaba is a lovely lady and allows me to indulge many pleasures but has recently been keen to free up some garage space and some reddies for a new kitchen, not a unreasonable request, but I am not so sure. I have become rather attached to the wee beastie in the garage and after a quick blast at the weekend am convinced that I should keep it. Can the PH community provide valid arguements along the lines that the value is going to shoot up in the next few years so that I can both keep the car AND Mrs Mamba happy in the knowledge that she can have a bigger kitchen as her 'investment' grows.

Oh BTW I assume a starting point of £12-£12.5k for a good (but used) one

Cheers
Mr Mamba

[clubsport]

Hmmm, you have to consider running costs, service, insurance...then those additionals...set of tyres every few years and occasional larger bills that come along on older cars....at best, I would say the car may possibly appreciate enough to cover running costs ....against that if economy/housing etc...turns, there will be quite a few people selling surplus toys sitting in the garage.

[rubystone]

I think Clubsport is correct. But if your car is black with black, a coupe with lowish mileage, it is a good example of a 3.2 and should sell easily if priced correctly, almost regardless of the state of the market.

Is it ever going to appreciate?...I really don't know. I see that Carrera 2.7s are in the high £40ks on some traders' fronts now - they were half that price a couple of years ago....that's usually a sign that the market has reached its top...the "lesser" cars being dragged up on the back of their more illustrious predecessors...but the G50 3.2 to my mind stands alone as being the best developed impact bumper car.

So the short answer....put it up for big money (say £17k). If it sells, you can be happy you got out of it at more or less the top of the market. if it doesn't, you then have a good excuse to keep it!

[Geneve]

I think the values of later 3.2 Carreras could strengthen, but not to the extent that you could call them an investment. With the exception of Club Sports and Speedsters, they are not rare enough.

The best buy would need to be an exceptional example, ie:
- Very original / no accident repairs
- Perfect condition throughout
- Full history
- Low no. of owners
- Low Mileage (ie less than 3k p.a.)
- Nice spec / colour combo
- Right model (Coupes most desirable, then Cabs, then further back - Targas)

Even today, I don't think you'd find a really good one for under £16k, probably much more.

[anonymous-user]

I certainly wouldn't call it an investment, but it shouldn't lose a significant amount either. Who knows where the market will top out? But the premium prices will only ever apply to rare and highly desirable models like the '73 RS. I doubt a bog standard 3.2 Carrera will ever be worth big money, great cars though they are. For example '73 RS prices have more than doubled in the last 5 years, while 3.2 Carerra prices have remained fairly stable. In the very long term i.e 10-15 years you might see a rise for mint fully restored cars as numbers diminish, but restorations are not exactly cheap!