Used Porsche prices in the tank?

HardDrive · 02-12-2008, 10:36 AM

Selling a 986 at the moment, and I thank my lucky stars that I don't 'need' to sell, I want to sell to upgrade. Its ugly out there. 986 numbers are particularly bad because the 2.5 cars a going for $10-15k!!! Even if you have a later 2.7 or an S, it doesn't matter, because people in that segment of the market don't really care. They just want a 'Porsh'.

996 prices are not quite a dramatic, but still amazing too see a 6 year old 911 that was $80k new going for $30k!

Does this reach beyond the '86' series cars? Is there a general depression in the used 'Luxury' markets caused by the decline in real estate?

Boardwalk Porsche out of Texas is dumping new 07 Porsches on E-bay at invoice or close to it. Porsche dealers seem to have healthy stocks of 07s (in particular Caymans) still on the lots.

Curious to hear peoples input from around the country.

onewhippedpuppy · 02-12-2008, 10:42 AM

Just keep dropping, I'd take a 996.

Porsche-O-Phile · Porsche-O-Phile's Garage

Silly guy. Everyone knows the last "real" Porsche was the 993.

stevepaa · 02-12-2008, 10:46 AM

986 is boxster. yeah that's about right

cgarr · cgarr's Garage

I guess if your making payments the toys are the first to go? if you can find a buyer

onewhippedpuppy · 02-12-2008, 10:47 AM

Quote:

Originally Posted by Porsche-O-Phile

Silly guy. Everyone knows the last "real" Porsche was the 993.

Hey now, beggars can't be choosers.

legion · 02-12-2008, 10:50 AM

And I was thinking of selling the 951 in the Spring.

I need to concentrate on getting the house into saleable condition...

Scott at Pelican Parts · Scott at Pelican Parts's Garage

Quote:

Originally Posted by Porsche-O-Phile

Silly guy. Everyone knows the last "real" Porsche was the 993.

I know people who say the last real Porsche was the 356SC

pwd72s · 02-12-2008, 11:09 AM

The last "real" Porsches were made in 1973...

the · 02-12-2008, 11:21 AM

The low prices have nothing to do with the real estate market. The low prices are nothing new.

The prices for used Boxsters and 996s are so low because they are "ordinary" relatively high volume production cars. I.e., they are "appliances" just like BMWs or Mercedes. In the '80s, you had to be fairly well off to drive a new Porsche. In the modern world of high volume porsches and the new financing and lease deals, these cars are cranked out in high volume, and pretty much anyone with a full time job could afford to be driving a new Boxster on a lease.

These things all come off lease and are a glut on the market. There is too much supply, and frankly not a relative lot of demand for used Boxsters and 996s. Thus, the low prices.

pwd72s · 02-12-2008, 11:24 AM

Quote:

Originally Posted by the

The low prices have nothing to do with the real estate market. The low prices are nothing new.

The prices for used Boxsters and 996s are so low because they are "ordinary" relatively high volume production cars. I.e., they are "appliances" just like BMWs or Mercedes. In the '80s, you had to be fairly well off to drive a new Porsche. In the modern world of high volume porsches and the new financing and lease deals, these cars are cranked out in high volume, and pretty much anyone with a full time job could afford to be driving a new Boxster on a lease.

These things all come off lease and are a glut on the market. There is too much supply, and frankly not a relative lot of demand for used Boxsters and 996s. Thus, the low prices.

Good analysis. Porsche trades on it's past glory. The reality is that it has become just another car company.

MRM · 02-12-2008, 11:26 AM

I've been watching the used Porsche market for several years, looking to get into a 2002 or later 996. My sense is that 2002 and later 996s are holding value pretty well for 6 year old cars. Pre-2002 996s are dropping and are pretty cheap. Boxster prices do seem to be in the tank. 993 prices are all over the board but mostly holding firm. 964s bottomed out a few years ago and aren't going anywhere, although there's the odd 964 being advertised for $40k. Carreras and SCs are a few thousand lower across the board than they were a few years ago. A $12,000 SC is now a $10,000 car. A good 915 Carrera used to be in the high teens, now they can be had for the low teens. G50 cars are still in the high teens to 20s. Mid year cars bottomed out a long time ago and aren't going down,but not going up either. The pre-74 market is still hot and getting hotter.

It seems like the really popular and long term desirable models are holding their value well. The rest are dropping sharply.

The Gaijin · 02-12-2008, 11:30 AM

I see these dirty, dented, unloved (mostly tiptronic of course) and beaten up 996s on the streets of New York. Who is going to buy and own these things? Not to mention the repair and maintainence issues. Like most 928s, to an early demise in a shredder, most likely...

tcar · 02-12-2008, 11:42 AM

Boxster is the new 914...

trader220 · 02-12-2008, 11:57 AM

Its hard to argue when a 2002 996 with all the mid model upgrades can be had in the mid 30's

onewhippedpuppy · 02-12-2008, 12:08 PM

Quote:

Originally Posted by pwd72s

Good analysis. Porsche trades on it's past glory. The reality is that it has become just another car company.

They still make some of the best sports cars on earth, and each new generation is better than the previous one. If you mean that they actually turn a profit, then yes, they're pretty good at that.

berettafan · 02-12-2008, 12:11 PM

i wouldn't kick a GT3 outta the driveway.

Hawktel · 02-12-2008, 12:16 PM

I think in another 2 years, you will see 986s for sub 10K, and 996's in the sub 20K.

Someone out there is driving my 996 right now, and a bunch of others are driving the cars my car will have parts from.

Scooter · 02-12-2008, 12:18 PM

Quote:

Originally Posted by tcar

Boxster is the new 914...

Does that mean Boxsters will increase in value 35 years from now?

A 1972 914 sold for something like $2k and now a good condion 914 will sell for more than $10k.

the · 02-12-2008, 12:18 PM

Quote:

Originally Posted by MRM

My sense is that 2002 and later 996s are holding value pretty well for 6 year old cars.

That really has nothing to do with the cars themselves, it's only because they are newer. A 6 year old and under car that trades as an appliance (Porsche, BMW, Mercedes, etc.) still is considered relatively "late model." Some are still under extended warranty, and the miles haven't approached the "magic" numbers (like 50,000 or 100,000).

When any car gets to be 7, 8 or 9 years old (i.e., moves from the "late model" to "old car" category), or approaches 100,000, it takes a big hit on value.