Bruce Anderson--Economy Comments

[Yankee911]

I bought September Excellence on the newstand yesterday and with all the discussions about how the Bush economy is, I thought his Boxster Update was interesting.

Talking about the past year:

"During the same period, Carreras have dropped in value by 13.5--17.5 percent while Carrera 4 coupes and Cabriolets are down 11--16 percent. These are all great cars, but there are too many of them available in an economy that's still a little weak--so the market continues to be soft. I've talked to buyers who have made great buys and sellers who just can't sell their cars."

"The simple fact is that Porsche sold a lot of cars in recent years and, in a weak economy, many of those cars are up for sale and there is a limited number of buyers for them. I've talked to lucky buyers who have made some great purchases. But I've also talked to some sellers who can't seem to sell their cars at any price."

Sounds like a healthy recovery to me. I'm going to buy a 2 yr-old Boxster for my wife but I'm waiting for the bottom of the economy--we ain't there yet.

[widebody911]

Maybe prices on 993TT's will drop low enough such that I can get one cheap enough to strip the engine out of it and junk the rest

[araine901]

Why has there been a surge in early car prices? Mine dropped in the mid 90's after I bought it, after they had been on the rise. In the last two years it has gone up. WTF, How can that be? Why dont I have any thing to blame Bush for? Is it becuase I am not a Victacrat? Grow up, grab a hold of them and move on. This whining is getting old. Mew Mew, this president in mean, Mew Mew, this president is dumb, Mew mew, hes not nice to the french. STFU a live your life.

[RallyJon]

I'm waiting for the bottom of the economy

You mean the next one? The most recent recession bottomed out near the end of 2001.

Of course, luxury used car prices are a trailing indicator, so the best deals won't be at the bottom of the trough, but a while after. Like now.

[Neilk]

Araine901,

I have read that with the recent poor performance of the stock market, that some people decided to blow their money on collector cars rather than see their stocks tank some more.

[araine901]

I think the oppertive word is "Some". But Yes S and RS early cars are collector cars. But most of the other early cars are not that good of an investment. Buying a car for 6-8K dumping 10-15K to make it worth 8-10K. If thats what investors are doing with there money its no wonder the stock market is down. Honestly the majority of early 911's are owned by people like you and me that love to drive them. the smell the sound and the feel cant be substituted for cash.

[techweenie]

Bruce is based in California, and we out here in the sunshine state are not feeling the economic recovery that apparently is going on in other places.

Also, because such a large number of Porsches are here or sold from here, the market he reports on is disproportionately affected by the down California economy.

[epbrown]

Originally posted by araine901
Why has there been a surge in early car prices? Mine dropped in the mid 90's after I bought it, after they had been on the rise. In the last two years it has gone up. WTF, How can that be?

Early car prices are going up because of the weak dollar. Lots of cars are being bought here for re-sale in Europe and the UK, since US cars are less rusty and (now) fairly cheap. The way muscle-cars are big with Boomers over here, vintage 911s are experiencing a boom over there, so we're being cherry-picked. Expect longhoods to go up even more, since they're going to start getting scarce on this side of the Atlantic. This is mostly the non-targa MFI models, btw.

Emanuel

[araine901]

Lynn:

Back and fiesty as ever, I love it.



"Sounds like a healthy recovery to me. I'm going to buy a 2 yr-old Boxster for my wife but I'm waiting for the bottom of the economy--we ain't there yet."

Is this not a direct "slam" on the Bush Camps tout that the economy is recoverd? If its not, I apologize for drawing that conclusion.

I think we both know the answer to your rethocial question on wether I wirte for Excllence (as if my grammer didnt give that away alredy). But Bruce has published some of my e-mails from back and forth comuinication in his letter answer coulmn. Dose that mean I am cool now beucase I have written somthing in Excellence? No, I am still a dork and may spend the rest of my life that way. But how many times have your read letters or comments in his collum about him under estimating the values based on acutal purchases? Seems to me I have seen it a lot. Dont get me wrong Bruce is the man.

I dont blame Bush or Clinton for my problems because it is my responsibility to handle my problems.