Any interest in a real 2002 996 GT2? A bank in Ohio reposessed this with 19K miles...

[Spud]

C'mon kaisen! We need an update!!

[kaisen]

Originally Posted by Spud

C'mon kaisen! We need an update!!

There were a few online bidders, so I'm not sure who they were.

But they were active. Bidding started at $40K and very quickly passed $50K, then $60K

Sooooo.....pass

With live auctions, it happens

[911boost]

I'd sell my 964T for a 996 based GT2 in a heartbeat.....

Bill

[pirahna]

So what was the final price?

[jwhcars]

$63,200

[Hard-Deck]

It was a dealer only auction. Do we know who bought it?

[kaisen]

Originally Posted by Snapper33

It was a dealer only auction. Do we know who bought it?

I didn't pay attention to who bought it, and there's no way now of looking it up.
I'm sure it will be up for sale in the next few weeks. Maybe on eBay.

It was a nice car, so I'm sure it will be $69K+ as I posted previously on this thread

[BReif61]

Originally Posted by jwhcars

$63,200

Damn. Almost had it. Just a mere $200 over my max budget

[81Kremer930]

Whomever bought this car will have no problem selling it. 1 of 300 or so units over 4 years, good color, great mileage, etc. Probably will go up for sale in the high 70's to low 80's. There is no competition for this unit.... Someone comes in and is interested, they cannot really shop you, where can you go get another one?

Even tho I'd rather have a 997TT Cab for the same $$.

Was this car a Repo or a lease?... It's listed as a lease at time of sale...

[kaisen]

Bank owned. It's possible that it was a non-traditional lease (who leases a ten year old car?) but not likely. It wasn't a lease company or lease-trust that sold the car, it was a bank.

[aigel]

Eric,

You think this still went under normal auction price due to the GT2 detail not being obvious or is that final price in line with other GT2s sold?

One day I will have more time and get a dealer's license to go play. Here in CA it is pretty involved and takes $ every year - which needs to be made back first, so not going to happen until I am semi-retired or moved to another state ...

G

[pwd72s]

Cheap for the performance...thanks for posting.

[kaisen]

Originally Posted by aigel

Eric,

You think this still went under normal auction price due to the GT2 detail not being obvious or is that final price in line with other GT2s sold?

One day I will have more time and get a dealer's license to go play. Here in CA it is pretty involved and takes $ every year - which needs to be made back first, so not going to happen until I am semi-retired or moved to another state ...

G

It's really hard to say. There are so few changing hands. But working backwards from what retail might be, they still got a good deal. $69K is the easy money. As others have pointed out, $79K isn't absurd. So $5-15K potential is worth tying up $65K.

I still think it may have done less than $60K, even as low as $50K given the seller and the way they listed the car. If the high bidder were $50K, the bank would have cut it loose. It's just a function of a live auction. All it takes is two motivated bidders.

California is no more expensive than any other state for a dealer's license. The single most expensive requirement is your commercial space. And every state requires one. You can't have a license out of your bedroom.

[McLovin]

In some states, California included, you can get a wholesale license without having commercial space.

You can then buy cars at the auctions (Manheim, etc.). But you can't resell them retail to the public. You have to sell only to dealers.

This is a very, very low barrier to entry business. That becomes obvious if you ever go to the auctions.

[aigel]

Getting a place of business is $$$ here in CA, unless you live in the boonies. You may find someone renting you a place to hang your license but that's still several hundred bucks a month.

I have been to dealer auctions and seen the clientele, MCL, I know what you mean. It'd still be fun to specialize in one or two types of cars and have some fun. When I had more time, I did pretty well just turning around fixer uppers including paying taxes and license fees - getting them registered in my name for a year or so ...

G

[kaisen]

Originally Posted by McLovin

In some states, California included, you can get a wholesale license without having commercial space.

You can then buy cars at the auctions (Manheim, etc.). But you can't resell them retail to the public. You have to sell only to dealers.

This is a very, very low barrier to entry business. That becomes obvious if you ever go to the auctions.

In California you still need a commercial office to obtain a wholesale or broker's license. Just an office, not a retail space. But you still can't just have a home address it must be a commercial business location, and zoned appropriately. Still a couple hundred bucks a month or more, plus a physical land line phone (can't be a cell phone or magic jack).

Same is true of most states (broker/wholesale), you must have an office.

It's a relatively low barrier to entry because a dealer or wholesaler can sign ANYBODY up as a buyer. Those guys are at auction too, not just the proprietors who pay the commercial property rates. Over the years I've been going, the average auction attendee has gotten very much worse. It's really horrible at some locations. That's another reason I'm happy to physically attend live auctions only a few times a year...... I used to go two to four days a week, all over the country.