Just High High Will the Value Go on the Longhoods?

Sunroof · 03-09-2006, 04:29 AM

I bought my 1973.5T about six years ago and fortunately it was about 95% restored. With little use (maybe 2K a year), its place is more under wraps in the garage these days then on the road. I find myself more these days driving my mini-van to minimize wear and tear on the "T", for the purposes of preserving its value. Crazy heh?

As I consider seriously selling the "T" for something more practical, I have to question just what the end point is going to be on these 73 cars on sales price. I am amazed and certainly delighted to witness almost an 50% increase in estimated value
(Excellence and PCA) over the past five years. Granted condition is the key, but I figure these vehicles are going to have to top out, even as they become more rare. They are unfortunately not in the league of the 356 and those who have worked on the car cry, "preserve and garage", rather then drive the hell out of it!

I am seeing ads for low 20's now and they are selling! Do you hang on to them, or sell while the gettin's good? Driving a garage queen on the weekends is torture!

Bob
73.5T

jluetjen · jluetjen's Garage

I'm not sure if it's reasonable to consider these cars to appreciate like a high-tech stocks. In the past I've posted completed price listings from ebay over the last few years and to be honest, once you strip away the hype and unsold auctions, I found that the cars are holding their value nicely, and creeping up a little bit. But 50% increase in value over one or two years is asking a little too much of the market.

For example, here's what appears to be a very nice car listed by a seller who I know is reputable. Foreign Intrigue is an established Porsche dismantler and repair shop here in New England. I've had fine service and support when I've bought parts from them in the past. They have this complete (but not perfect) 2.4T

for sale right now on eBay. I'm guessing that in many respects this car is like many of our drivers. It looks like it has bidder interest and it will be interesting to see how it ends.

Sunroof · 03-09-2006, 05:12 AM

John.
You have to wonder what the asking price is as its in "reserve not met" mode. My issue is the backing off on my car as a daily driver to avoid packing on the miles. Its purely economics for me. I am realizing there is no value in having an older restored Porsche sit in a garage unless it is an appreciating asset which makes it worth hanging on to. Thats the dilemma I guess. Like hanging on to a painting and wondering when its the best time to sell. These are times when I really valued my old SC...............as a great and trusting daily driver.

Bob

David E. Clark · 03-09-2006, 05:34 AM

One can only hope!

jluetjen · jluetjen's Garage

Bob; I agree the example I listed is only meaningful if the auction closes. But even if it doesn't, seeing the highest that someone is going to bid (plus a buffer of 10%? 20%?) will give you a good idea of what 2.4T's are selling for.

If you have a buyer who is willing to pay $20K for your car (S money in my opinion), I'd take it and flip the money over into a nice "driver" if that it what you want plus some cash left over for fixes or "upgrades" to personalize your car. How many miles are on your car? Do you have any pictures to post? Does your car have MFI or CIS?

304065 · 03-09-2006, 06:13 AM

Bob,

Why are you keeping your car so nice? So the next owner can enjoy it more?

It's only a car. If you over-rev the engine it can be rebuilt. If you race it and spin into the styrofoam it can be rebuilt. If your puppy drools on the concours square weave carpeting and chews the priceless steering wheel you can have it refurbished.

But nothing can replace the joy of taking it on the highway, selecting third gear pushing the accelerator pedal all the way to the floor and hearing that beautiful flat six song.

Drive the living crap out of it.

600 Mile Cruise in 1966 911

BK911 · BK911's Garage

"Why are you keeping your car so nice? So the next owner can enjoy it more?"

Too funny!

Sunroof · 03-09-2006, 06:50 AM

John(s)..
This is my fourth Porsche in 30+ years. I am one of the senior guys who frequent this board so, as I get closer to retirement, I have to evaluate the financial wisdom in this decision to retain or sell. I ran a post on here last month about Audi TT's and the opportunity to trade, but I was surprised to read the responses pressing to keep the 911. Dedicated Porsche owners are a great group! It really is an issue of practicality and dollars at this point. In the meantime, its nice to see their value all go up.

Bob

DW SD · 03-09-2006, 07:56 AM

Quote:

Originally posted by Sunroof
John(s)..
This is my fourth Porsche in 30+ years. I am one of the senior guys who frequent this board so, as I get closer to retirement, I have to evaluate the financial wisdom in this decision to retain or sell. I ran a post on here last month about Audi TT's and the opportunity to trade, but I was surprised to read the responses pressing to keep the 911. Dedicated Porsche owners are a great group! It really is an issue of practicality and dollars at this point. In the meantime, its nice to see their value all go up.

Bob

Bob,
No offense, but maybe you should sell it and re-invest the money in a proper investment? I think John Cramer is right - these cars should be driven.

A nice old T is one of thousands, not 1 of a handfull. If it is not meant for a museum, drive it or sell it. If the market for these cars takes a hit (what classic car market hasn't been up and down dramtically over time?), you'll be disappointed that you didn't truly enjoy the car (on the road).

Doug

klaucke · 03-09-2006, 08:43 AM

John, that T has been on ebay at least once before, perhaps twice. I dont' think it is a good indicator of value, but then again a good valuation of these cars is hard to come by.

Todd Simpson · 03-09-2006, 09:03 AM

As usual, I have a bunch of random thoughts.

-Let's say the car is worth 20K, and the bottom falls out of the early 911 market. I still can't imagine it will ever be worth less than 10K. Surely that 10K "loss" can't be a deciding factor in your retirement?

-An Audi TT isn't more practical, at least in the financial sense. That car will depreciate the second you buy it. (and I like Audi TT's, btw.) 10K well cared for miles over the next few years won't depreciate your car but they sure will be fun.

-I say sell the car. If you're using it less and less it's just not the right car for you. Something like an Audi will be fun and reliable and you'll USE it. I won't take my '71T to the grocery store but I do take it on long road trips and track it. Maybe a few PCA tours will allow you to enjoy it on a safer environment?

I'll admit that when I buy a 356 I'll probably go for a ratty driver that I won't worry too much about. A really nice one will have me paranoid to take it out, then what's the point?

David E. Clark · 03-09-2006, 09:20 AM

Quote:

Originally posted by Todsimpson
I'll admit that when I buy a 356 I'll probably go for a ratty driver that I won't worry too much about. A really nice one will have me paranoid to take it out, then what's the point?

This is very close to my philosophy. I try to drive my '73 as much as possible AND try to keep it looking as good as possible.

BTW - Love the Jack Handy quote!

Here's another: "I hope if dogs ever take over the world, and they chose a king, they don't just go by size, because I bet there are some Chihuahuas with some good ideas." That's deep man!

Rich76_911s · Rich76_911s's Garage

I was reading through an old excellence last night and one of the designers of the Audi TT has a tricked out longhood 911, that has to say something doesn't it?

DW SD · 03-09-2006, 10:21 AM

Quote:

Originally posted by Rich76_911s
I was reading through an old excellence last night and one of the designers of the Audi TT has a tricked out longhood 911, that has to say something doesn't it?

That is Freeman Thomas.

jluetjen · jluetjen's Garage

Quote:

Originally posted by BK911
"Why are you keeping your car so nice? So the next owner can enjoy it more?"

Too funny!

That's like buying nice furniture and then putting plastic over it for the 30 years that you use it!

Carrera Charlie · Carrera Charlie's Garage

Bob,

One thought as you approcah retirement: use the car - you've earned the right to have some fun!

I can't begin to tell you the joy I have every day turning the key and hearing the engine fire to life. A 911 as a daily driver is incredible! I get to live the dream daily, while keeping the fluids moving and the joints loose. I know rust is a constant enemy, but it's worth risking it to have my fix!!

Forget the "practical" aspects ... they won't matter a bit when you're gone and everyone is standing around reminiscing about you and the times they spent taking drives in the Porsche with you. Go ahead ... live a little!! You have our permission!!

All the best,

Sunroof · 03-09-2006, 05:53 PM

Okay, truth be known.....
We are sailors and we have made it our goal to purchase a larger boat then we have now (Catalina 30) to liveaboard and cruise. That will happen within five years if we stick to our plan. Kids in college now, empty nest and we're having a ball. But, the 911 six years ago was only 10k totally restored. If its a 15-20k car now, so the investment paid off. If it were an SC or an earlier Carrera, I would be more apt to keep it, but I see an opportunity to stay with a sports car that will provide far more dependability as a daily driver then the garage queen I have now. One less worry actually!

Thanks
Bob

Carrera Charlie · Carrera Charlie's Garage

Bob,

You are absolved, my son ... the call of the sea is powerful!

Once you are living aboard, check in occaisionally on the board to make us envious!! (I used to live in Savannah, GA - where do you plan to be moored?)

Just an interesting aside ... notice the two biggest proponents of driving your Porsche are owners of 1969 911Es? (myself and jluetjen) Must be something in the blood that drives us (sorry about the pun).

Cheers!

304065 · 03-10-2006, 07:55 AM

What about Clark, BK and myself? Practically an E registry right on this thread.

(OK, my 911E is a T tub and case with S parts, but don't tell her that.)

Carrera Charlie · Carrera Charlie's Garage

Mea culpa ... mea culpa!!!

My appologies for missing the other avid 911E owners who are regulars here!

It must be all the adreneline in my system making me lose focus ... it gets that way when you drive your 911 on a daily basis!

(Sorry guys, couldn't resist that - thank God for the mild northwest climate)!

Long live 911Es!!

Cheers,