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Registered User
Join Date: Jun 2003
Location: PNW
Posts: 664
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Porsche bubble?
This may be OT but does anybody else see a Porsche bubble out there?
A Carrera RS sold on the bay for 215K! How many 911T's have you seen sell for more than 20K? It's getting a little unnerving. Reminds me of that beautiful Ferrari Daytona go for $1M in 1986 only to plummet and go for around $90K in 1995. It's making me re-think the idea of looking for a '72E. Maybe I'll wait a few years..... |
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Join Date: Nov 2000
Location: New York
Posts: 1,092
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I thought the same thing. American Muscle cars that were 20-30k few years ago sell for over 100k on Barret Jackson.
Crazyyyy times
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http://www.mybuildgarage.com/author/carreraboy |
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Black and Blue
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that RS for 215K most likely went that high because it was a low mileage and original car. he will probably just put it in a climate controlled garage as a piece of art.
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Kemo 1978 911 SC Non-Sunroof Coupe, two tone Primer Black and SWEPCO Blue, Currently serving as a Track Whore 1981 911 SC Sunroof Coupe, Pacific Blue Project, Future Daily Driver |
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I believe you are correct, and that the bubble is linked to housing values.
That's one reason I deal with the more 'affordable' end of the early 911 spectrum (<$25K).
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techweenie | techweenie.com Marketing Consultant (expensive!) 2004 996 Turbo Cab, triple black | 73 911T Light Ivory 2018 Chevy Volt dd/parts fetcher |
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Registered Cruiser
Join Date: May 2004
Location: Pursuing Happiness
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"...bubble is linked to housing values."
Exactly my thought. High R/E values coupled with low mortgage rates and heavy refinance activity put alot of people in the market for toys they always wanted when they were kids.
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87' Carmine Red Carrera - Keeper 82' Silver SC - Sold 79' Gran Prix White SC - Sold 05' Black C2S - Daily driver I have never really completely understood anything. |
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Join Date: Oct 2002
Location: SE PA
Posts: 3,188
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I don't think you can call a $20k value on an early 911 part of a bubble, as long as American muscle cars have such silly prices.
IMO, a bubble exists where what people will pay for something far exceeds its intrinsic value. Such as $1 million for a craftsman style 2br house on 1/4 acre. Or for an old Buick. You could argue that the $215 for the RS was a high price, except that if it's really that original and that good. $20-40k for early 911s is perfectly reasonable and sustainable given the production volume, the low number of survivors and the inherent desirability of such a beautiful car. |
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Join Date: Apr 2001
Location: Linn County, Oregon
Posts: 39,980
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Actually, I wouldn't consider that particular RS to be all that great, condition wise. Sounds to me like it was sold out of a Mexican chop-shop. Here's a link to a thread on the S registry.
http://www.early911sregistry.org/forum/showthread.php?t=8891
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"Now, to put a water-cooled engine in the rear and to have a radiator in the front, that's not very intelligent." -Ferry Porsche (PANO, Oct. '73) (I, Paul D. have loved this quote since 1973. It will remain as long as I post here.) |
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[QUOTE]Originally posted by pwd72s
[B] Sounds to me like it was sold out of a Mexican chop-shop. QUOTE] ![]()
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85 911 SuperSport No more looking! The jewel is mine! 89 Jeep Wrangler A jewel in the rough 2000 Grand Cherokee Family Wagon with Jewels on board |
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Join Date: Jan 2003
Location: Woodland Hills, CA
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Quote:
![]() I personally think that the value of excellent early 911's will continue to rise. Simple supply and demand. Every day it seems another 911T has been turned into an RS clone. (Remember the '80's when early 911's were "improved" by turning them into all-white slant nose replicas?) Then there are the cars that by Spring 2006 will be unusable rusted piles of junk. That leaves fewer and fewer quality cars left. Ten years ago, if you told the 356 community that excellent Speedsters would be selling for more than $100,000, they would have laughed. Now those guys are laughing all the way to the bank. Bottom line-- if you can find a '72 911E, don't tell anyone about it. Just buy it. QUICK.
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Sandy 1969 911E 1970 240Z |
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IMO the prices has slowed or paused in the past few months. Excellent original early 911 prices rose sharply in the past 2-3 years and seem to have stabilized.
Not-so-excellent cars almost seem a little cheaper than they were a few months ago, when they were caught up in the 'get them while you can' hysteria. Having said that I'm not sure prices are going to drop. If the economy takes a dive they almost surely will though. |
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Quote:
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Quote:
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Sandy 1969 911E 1970 240Z |
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Were any of you guys around in 1989-91?
The Ferrari market was 'bubbling' until the big drop in the Dow the end. Some Ferraris lost 70% of their value in a very short time.
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techweenie | techweenie.com Marketing Consultant (expensive!) 2004 996 Turbo Cab, triple black | 73 911T Light Ivory 2018 Chevy Volt dd/parts fetcher |
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I wonder to what extent price dictates elasticity?
When a well-off guy's portfolio drops 20%, he doesn't stop eating steak and start eating dogfood. However, he may order a $100 bottle of wine instead of a $250 bottle when dining out. I think that similar math works for collector toys like early 911s. In a mild downturn or confidence crisis, the same guy who would pass on a $100k speedster can pick up a sensible collector car like an early 911 without feeling too much of a pinch. When 356 Speedster or rare Ferrari values doubled, tripled, then tumbled, 356 coupes and 308s moved much more gradually. |
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Too big to fail
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Wanna talk about bubble? Take a look at VW buses! I'm seeing people asking $10k for beat-down no-engine-havin' corner-window deluxes. Clean, straight, complete SO-42 (65-67) Westfalias are closing in $20k; a low mileage hardtop westy pulled down $90k (yes, ninety thousand) a while back. 23-windows seem to start in the mid $20k range now.
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"You go to the track with the Porsche you have, not the Porsche you wish you had." '03 E46 M3 '57 356A Various VWs |
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Join Date: Jan 2004
Location: Richmond,Va
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"Were any of you guys around in 1989-91?
The Ferrari market was 'bubbling' until the big drop in the Dow the end. Some Ferraris lost 70% of their value in a very short time." I remember that. There were 60's jag xke's selling for up to 80k IIRC. They are now down to 20-30k. There will be a rise and fall. Demand always does.
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Hey! Another cat fight!
Where is your shop, BTW?
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Bye, Bye.
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Elvis has left the building. |
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Bollweevil
Join Date: Dec 2003
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Quote:
Jack
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