Photography Credit: Bring a Trailer
Anyone in the classic car market, especially on the Porsche side, has been asking and worrying about an upcoming correction.
While Bring a Trailer might cover the high end of the market, it still does show what people are willing to pay.
One recent sale forced us to admit that reality might be setting in. On August 2, a 2006 Porsche 911 Carrera S Coupe sold for $49,500. This sale was a for a Guards Red, well optioned car with 48,000 miles on the odometer–low but not amazingly low.
There were no CarFax issues, and based on past sales, we expected this one to bring in another $10,000. But that didn’t happen.
So, the Porsche market has corrected itself, right? Not so fast.
On the very same day, a similar Guards Red Cabriolet with 35,000 miles bested the $50,000 mark and sold for $53,411.
Sure, the lower mileage should have helped, but it is generally understood in this market that a coupe should be worth more than a cabriolet.
With most cars, when the top goes down, the price goes up. The opposite can be true with the Porsche 911. Credit the sporting nature and/or the drop-dead gorgeous look of the coupes when searching for reasons why this is true.
Bottomline, while there are some deals out there, don’t expect 997 Porsche prices to ever get much lower. Collectors have realized that these just might be the best Porsches ever built. Take a ride in an ’80s 911 (worth twice as much) and then a 997, and you will quickly see that values on these later cars might not yet be fully realized.
Photography Credit: Bring a Trailer
I sure hope so. Looking at GT3 prices last night reminded me how I will never smell the inside of a GT3 ever again after unloading mine to buy a house. :-(
Was a glorious trip to Road Atlanta I will never soon forget. Cant believe tracked 997 GT3s start in the 110-120k range now (MSRP basically). Considering the costs of keeping the transmissions/diffs rebuilt and suspensions fresh as they get in the 50k mile range, amazing what money it would take to actively DE a car like that nowadays.
From what I've seen? Nope. GTx or Turbo cars are still bringing all the money in the world. Maybe a "regular" carrera is dropping in value byt my 996 Turbo 6MT sure isn't...
I don't really care what the market says is the value. I have a 2009 Carrera S cabriolet that I will probably never sell. Had it for nearly 9 years and it still is a wonderful car to drive.
Sold my Targa years ago. Have regretted it every (EVERY) day.
Often wake up in middle night sweating, and punch myself in a particular tender spot till I fall back asleep.
Yes, I deserve it cause never sell your dream car thinking, sure I'll get a better on in a few years...
The market is turning down. A near collector quality 1970 911 that sold on BaT for $117.5K in January was just re-sold on BaT. $95K. 20% drop with no appreciable change in mileage or condition. The bubble will burst.
I really hate the whole market correction thing; right before the 2008 housing crash I remember realtors said that prices were due for a correction............the statement was right but not in the direction they thought..............I'm always left feeling the the "due for a market correction is half of what drives the price up"
Now that I can afford a 911; I probably won't buy one because the prices mystify me. I just feel like many of them are overpriced.
Note I've had the opportunity to drive every model of 911 (on track) from 1967 through to 2021.
Used 911s are not far off of the price of a brand new Cayman..................so if I finally do buy a Porsche it will likely be a Cayman.
My .02
I don't regret selling my 996. I was never going to drive it 100%, and now I have cars I can drive 100% with no work tries. Today I just got a trailer in case 100% makes things say no. I'd rather drive a beater car 100% than worry about Porsche engine part prices, but that's my choice. Everyone has to decide for themselves.
Meporsche said:The market is turning down. A near collector quality 1970 911 that sold on BaT for $117.5K in January was just re-sold on BaT. $95K. 20% drop with no appreciable change in mileage or condition. The bubble will burst.
Don't give me hope.
In reply to Meporsche :
Can't say that shows anything, my corrado sold for 50% less than another one did 4 months previously, both on BaT. That doesn't mean the market went down, just that there were more motivated buyers looking at that auction vs mine.
That isn't a "market correction". They're still overpriced lol. Just shows the market for these cars will always be ridiculous and mysterious.
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