How are Porsche prices holding out

[Paracetamol]

I am based in the GCC. Looking at buying a 997 2S 07 nice spec- paying 255k aed. Are car prices holding in Dubai or are they falling- maybe I should wait?

[yorky500]

Good question and one I am not too sure I know 100% the answer to.

I believe that some makes of car are holding their prices well, whilst others not so.

It is kinda difficult to predict what will happen.

[Harris_I]

Porsches close to 10 years old are not getting sold in Dubai as the new laws lack clarity (I already know one guy who got refused reregistration on his 911 SC, even before the law is supposed to come into effect, though that was probably the traffic officer on duty at the time just getting out of the wrong side of bed that morning). This especially applies to 986 Boxsters and 3.4 996s - nobody is willing to take the risk. I know a 2001 996 Carrera which was bid for 95k (yep 95) by the main dealer, simply because they don't want the stock.

997 prices seem to be holding OK, except for turbos which have dropped like a stone. I know one turbo which was bid for Dh 350k by a dealer. There's another 2007 model being advertised privately for 385k - will probably get sold around the 360 mark.

On the other hand 993s are still changing hands for a fair whack despite the lack of clarity on new laws. 1997 993 2S on sale privately for Dh170k, a non-S for 130k, and a turbo went for somewhere between Dh200-250k recently. That's a lot more than 996 turbos which are dropping close to 160-170k for the earliest and ropier ones.

Hope that helps.

[Harris_I]

Oh, forgot to add regarding non-Porsches (is there any other make worth buying )

Go upstairs to AGMC's used car section. 6 rows of unsold beemers. Never been so full. Good deals to be had.

Friends getting whacked in the financial services industry are having trouble moving on their high end motors. I know one who has an AM V8 on sale for close to 2 months (no price advertised) - not a single bite. Good time for buyers...

[will_968]

Harris_I said:

Oh, forgot to add regarding non-Porsches (is there any other make worth buying )

Go upstairs to AGMC's used car section. 6 rows of unsold beemers. Never been so full. Good deals to be had.

Friends getting whacked in the financial services industry are having trouble moving on their high end motors. I know one who has an AM V8 on sale for close to 2 months (no price advertised) - not a single bite. Good time for buyers...

Still new to Dubai - what's AGMC?

[Asterix]

Beemer dealer.

I heard there is a 60% drop in new car sales - little to do with a drop in demand but the banks are not authorising any finance deals.

[am0611]

My mate collected a May '08 registered high spec turbo conv. today with only 10k on the clock. Absolute mint condition. Price only AED450k. I think about 50k under previous market value.

I did have a look around for a 1 yr old Turbo last week. The majority of trade guys were living in the past. Overpriced stock and refusing to budge on prices. Most units about 40-70k over market prices (and they are dropping daily so god knows how out of touch they will be in a couple of months). The prices are still so high I have opted for a new GT3 when they are delivered in September.

Also I really do not trust the majority of trade dealers here & when you combine it with the fact that the Dirham to UKP has strengthened, it makes Dubai an expensive place to buy a car. So to paying over the odds for a dodgy car is a worry...

Until September I will be driving my lovely 997 C2s. Anyone want to buy it at the end of the summer

[mgp1969]

Chap at work phoned HSBC and they are sending him a list of repossessed cars. May be some bargains on that.

[D33p]

A lot of reposessed stock ends up at Golden Bell auctions, Used Car Complex, Al Aweer. They're the official auction agents for many banks in the UAE.

See linky for past auction prices and current auction
http://www.goldenbellauctions.com/default.htm

[mgp1969]

D33p said:

A lot of reposessed stock ends up at Golden Bell auctions, Used Car Complex, Al Aweer. They're the official auction agents for many banks in the UAE.

See linky for past auction prices and current auction
http://www.goldenbellauctions.com/default.htm

That's a pretty uninspiring list of cars

[am0611]

mgp1969 said:

D33p said:

A lot of reposessed stock ends up at Golden Bell auctions, Used Car Complex, Al Aweer. They're the official auction agents for many banks in the UAE.

See linky for past auction prices and current auction
http://www.goldenbellauctions.com/default.htm

That's a pretty uninspiring list of cars

What do you expect? This is Dubai and someone will be creaming off the nice ones before they get anyway near the auction...