Thread: Porsche bubble?
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Wayne 962 Wayne 962 is offline
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Quote:
Originally Posted by Reaper930 View Post
Wayne is a smart guy - called the economic downturn based upon housing on page 1.
Thanks for the kudos, but I still believe that's just plain old common sense. The values of the classic cars appear to be holding up much better right now then I ever imagined. I thought that the car market would precede the housing market crash because I thought people would sell their cars before losing their houses. Well, it seems that the housing market has brought down the rest of the economy, and the people with cars are now suffering. We've seen 30-40% declines in the prices of these cars recently, and more is probably due to come. Ferrari 365 GTBs sold for $1.2M over the summer. There's one for sale "quick" at $750K. That's a huge drop in only a few months. I've been watching the 962 market, and that market certainly has started to correct itself recently.

-Wayne
Old 03-14-2009, 01:24 AM
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