Is there such a thing as a $10k 911 anymore?

[diverdan]

Hey guys, be careful about that "stupid." I remember selling my 425 hp factory offroad 65 Corvette convertible low miler in mint condition for $2200 back in 1973. Nobody wanted a big block. Then a few years later other Corvettes of the mid sixties became unobtainable for less than $3 or 4k and I said that was stupid for a plastic Camaro without a back seat.

The icons were cheap in their day as other cars were being scrapped. Think of these icons: Ford three window coupes of the 30s, the early Vettes, 60s muscle cars. The 911 is probably the all time international icon whose time is about to arrive, albeit, on the eve of a potential international economic problem. Sometime, when it gets too expensive for me, I'll sell some of my old 911s and start enjoying my old 944 Turbos which never achieved the icon status.

In the meantime, I will enjoy driving and wrenching my 911 passion.

Diverdan

[Matt Monson]

Originally Posted by Doug&Julie

But yes, I'm not sure I understand (or agree) with the recent surge in early car prices.

So much of it hinges on the currency exchange and the fact that 35 years ago we got the lion's share of the 911's. Add to that terrible issues with rust in Europe and you have your answer. It's really an issue of supply and demand. Everything for the 65-73's is getting hard to come up with.

I see if everyday in my business. I specialize in vintage porsche gears and transaxles. Just yesterday I quoted an FIA spec. race geared 901 for a guy in England. It came out to around $7200, and that's without an LSD. He didn't even bat an eye. Done deal. Here in the states, you've still got to sell guys on the value of it. But with what they have to work with over there, he can buy it from me for less and still air freight it and come out $1000 or more under what it would cost from a UK vendor.

Furthermore, when you start to look at the pieces and the current cost to properly build a transmission or an engine, $10k starts to seem like a cheap car. I think the "you pay 20 now or pay 20 later" rule is sliding up closer to 30 and has at least hit 25k when you factor in a 10k motor...

[Doug&Julie]

OK Matt, I get that. My Targa went overseas last Fall in fact. I'm just surprised at how much the prices have gone up and so suddenly. It seems like early 911s were at a certain price for such a long time. Then...boom...two - three times value!

By the way, I'd be very curious to see how your WRX transplant into the 914 goes!

[deathpunk dan]

Is this the same matt monson that has done some interesting n/a impreza builds in the past?

[Jay Laifman]

Originally Posted by Kurt V

I think there are still some 73.5-77 out there that are decent for less than $10K...

Originally Posted by Doug&Julie

It just seems if you want an "early car" these days, it's cheaper to buy, say, a mid-late 70s 911 and backdate it than to actually buy a good pre '73 car. ...

What's with the lumping the 73 cars in this list? First time I've heard them being excluded from the "longhood" craziness. Seems to me, there was a 73.5 T that was one of the very first to be thrown around on this list as an early non-unique/special 911 over $100k asking price. Of course it was only the asking price, but there were others that were reported as going for over $60k and $70k.

Of course I'm biased. But, I do need to defend my car's honor!

[Matt Monson]

Originally Posted by deathpunk dan

Is this the same matt monson that has done some interesting n/a impreza builds in the past?

Guilty as charged. I will post a thread about the transplant once it gets further along. I need to change my signature. I just this morning bought a rolling chassis for the project. The purist in me decided it was a sin to bastardize a '73 2.0l like that.

[Matt Monson]

Originally Posted by Jay Laifman

What's with the lumping the 73 cars in this list? First time I've heard them being excluded from the "longhood" craziness. Seems to me, there was a 73.5 T that was one of the very first to be thrown around on this list as an early non-unique/special 911 over $100k asking price. Of course it was only the asking price, but there were others that were reported as going for over $60k and $70k.

Of course I'm biased. But, I do need to defend my car's honor!

I agree. I started to see the CIS t's spiking in price long before the rest of the t's followed suit. Less than 2 years ago, the 73.5's were going for 69-71 911e type prices...

[nesslar]

Quote: "I once heard a good quote about old 911s. "They are all $20K cars, pay now or pay later." I think that sums it up." ...or USED to sum it up....why shouldn't 911s increase in value?
Doug, sir,
You have single-handedly tipped the demand in favor of the sellers. The cars are in fact worth more when YOU shop...

[billwagnon]

Some people on this board think the longhood prices are due for steep decline due to the cyclical nature of markets, just like the IT stocks of the dotcom bubble, or tulips in the tulip craze.

[Doug&Julie]

Originally Posted by nesslar

Doug, sir,
You have single-handedly tipped the demand in favor of the sellers. The cars are in fact worth more when YOU shop...

That wouldn't surprise me one bit. Truly.

[Matt Monson]

Originally Posted by billwagnon

Some people on this board think the longhood prices are due for steep decline due to the cyclical nature of markets, just like the IT stocks of the dotcom bubble, or tulips in the tulip craze.

I tend to agree on some level. If you use the genuine RS's as the benchmark, those particular cars are on what I would consider their 3rd spike in roughly a bit more than a decade. Each time when they slide back a bit, they never go back to where they wer prior to the spike. I think it's the increasing costs of the parts that create that piece of it. $200k+ '73 RS's is pretty crazy and there are a couple in the 150-180k range that have been on the market for months and months without selling. Just like in the real estate market the top and the bottom will slip first. It may have already happened.

However it's hard to say. Just look at the market for 356 Speedsters and 4-cam Carrera. They keep going up and up. Now I would say that those cars are a slightly different demographic and may even be collected by a different generation than the 911's are, but if you hold them as an example of where the Porsche marque stands, it's very strong and they might just keep going up this year.

[LakeCleElum]

Several for 10K and under on the Seattle Craigslist.......If you time it right, delivery would just cost you fuel and a plane ticket back!!

[gtc]

Prices here in Seattle are about the same as as year ago I'd say. There seem to be fewer longhoods for sale, but more Carreras.

I picked up my '84 last May for $10,500 with 180,000 miles. It's a "driver" for sure, but I still think it's the bees knees.

[Superman]

Don't get me started. My '83 was totaled last November, and most folks here seemed to think the insurance settlement offer of $9600 was reasonable. Admittedly, it needed paint.

After a couple of months of fairly intense shopping, I found a '79 Euro coupe for $11,500. In decent condition. The two main beliefs I have about this car are 1) It is worth the price. Coupes are not easy to find. Not at all. Targas all over the place, but coupes that are not Guards Red are rare. And 2) This car is in nowhere near the condition mine was in.

In a couple of months, when I expect to have time, I'm going to take virtually ALL the parts off the '83, which had just undergone a several-year full mechanical restoration, and put them on the '79. When I finish that, it will drive better and be acceptably reliable.

Southern Californians will have you believe that good SC's (like mine was) can be had for under $10K. I'd like to race those "good SC's" from here to Peru and back for money. I'd win.

[tshore]

I bought my '86 Targa with 193k on the odo for exactly 10k a year ago. I've invested a few k more and had some items fixed, but am still happy with her. In the end, they are all 20k cars, as I am finding out.

[3.2 CAB]

tshore. When did they start putting a CARRERA badge below the Porsche crest? I know that I have never seen that before. Very Interesting.

[Doug&Julie]

Interesting the high mileage cars...there is a 3.2 Carrera locally for "only" $10,500. The ad reads:

1987 PORSCHE 911 CARRERA COUPE, 169k miles, gold, dark brown int, newer tires/alternator, new brakes & batt, looks/runs good, absolutely no joy rides, vehicle is 1985 year, call for more details, $10,500 OBO

I've seen this car on eBay with a no reserve starting at $9500. Maybe I should look at it? I'm just not a fan of high mileage cars, even 911s.

Edit: Make no mistake, I don't think there's any chance of getting a good later year 3.2 Carrera for anything like $10k, but it seems the only 911s at this price range anymore are "fixer uppers" or high mileage cars...of any vintage. This is just an illustration of that.

[Paul K]

Originally Posted by Doug&Julie

1987 PORSCHE 911 CARRERA COUPE, vehicle is 1985 year,

1987=G-50

1985=915.

Which is it?

Sounds fishy to me.

Good luck finding another Pcar though Doug!

Paul.

[Rot 911]

Originally Posted by tshore

I bought my '86 Targa with 193k on the odo for exactly 10k a year ago. I've invested a few k more and had some items fixed, but am still happy with her. In the end, they are all 20k cars, as I am finding out.

Tim, please take that Carrera badge off the front of your 911, that is just so wrong!

[Doug&Julie]

Originally Posted by Paul K

1987=G-50

1985=915.

Which is it?

Sounds fishy to me.

Good luck finding another Pcar though Doug!

Paul.

Probably why that car has been for sale for well over two years.

Thanks!