Weakening prices

[billh1963]

I've been looking at 964 C2's and C4's for a month or so now and see a definite weakening in prices. The 90 C2 Cab on ebay listed a few threads down confirms this. I've passed on several low mileage (under 75K) 90,91, and 92 C2's/C4's over the last week priced in the very low $20K range. The owners were willing to negotiate even further. The cars just don't seem to be selling. I wonder is it the economy or the fact that they are 964's? In fact, if you look at ebay or other sites you can see a softening on all the newer ranges (964, 993, 996, Boxster). I wonder how low this will go?

[Elombard]

I have noticed this some what also. I was shocked when Anderson reported in Excellence last month that his price range for 993s started at $29K or somewhere ther abouts. I would buy a 964 but I think I would try to find one that had already had leaky heads and was repaired.

[JDaniel]

There seems to be a lot of rumors about the early 964 series being problematic and expensive to fix ; although they are really not much more of a money pit than the model they replaced.
The 964 is also the model between two very desireable models (the 993 and last of the classic 911s, the Carrera). I think this has been slowly bringing the price down to the low 20's... about on par with the car they replaced.
The price slump seems to be associated with the early ('89-91) 964's... perhaps a correlation netween the slump and the head-leaking-distibutor-frying problems.
YMMV

[billh1963]

I think prices are generally weaker across the board (including Carrera's). I have noticed that SC prices seem strong. Of course, this is just my informal study of prices in the SouthEast.

[GSpreeman]

For what it's worth, went to a Porsche dealership (large on in West Caldwell) and they told me that the best they could do on my '87 was $10,500 and that I should try to sell it myself instead.

BTW, this was sight unseen with the dealer assuming that I was right in saying that my car is really "clean."

[RoninLB]

G...I believe that '87 is worth big bucks in LA..and if it's really nice/clean/right color, it's becoming more desireable every day, to my understanding..........Ron

[jyl]

There's a recession going on and prices of used cars (that are not considered a "collectible" and thus an investment) are dropping. Check out late model BMW M3 prices . . . dropping like stones here in the SF Bay Area. Even 993 prices are falling. The price I paid for my 89 3.2 at the start of the year now looks too high. So not surprising that 964s are following suit.

[RoninLB]

I think Tyson would have the educated answers to LA prices, IMO......Ron

[yelcab1]

I have been saying prices are soft all year. No one seems to listen, certainly not the ones trying to sell their cars for more money than it's worth.

8% unemployment in the bay area does something to Porsche prices.

[Harold_89_911]

I'm not in the market right now but have been keeping an eye on the prices and lower prices seem to be the new reality. Don't think many owners are ready to accept this yet. I have at least one consolation, the stock I sold to buy the car would have been worth even less than my car now.

Current 911 pricing

[Wayne 962]

Gosh I said this months ago, and everyone liked to disagree with me then...

-Wayne

[curtisaa]

...other than the later model Speedster, and the RS America the later year cars are like the NY Stock Exchange, and NASDAQ..."toast". The "ones" that bought what they thought was a good automotive investment, mind -as-well just hang on to them and drive the hell out of them. The bottom is currently no where in sight as far a valuation goes, because these are "unchartered waters"..... I'm really surprised that even the "Twin Turbo" are very weak also...

[billh1963]

It's amazing the price spread out there. I looked a 92 C2 with 101K miles that had all the records from new but had a few minor cosmetic defects and mismatched tires and the guy was adamant that the car was worth $28K. I then looked at a 91 C4 with 50K miles with a new clutch, all records, etc. and the guy was flexible at $23K. 993's have dropped to the point that I am looking at them, now. I agree with the comment that the prices haven't hit bottom. I'll watch for a while before I make my move.

[cellison]

Prices/values have definately dropped since the first of the year. I estimate ~10% in the Atlanta area for 84-89 911s. This is based on what's for sale now versus the first of the year when I purchased my 88 cab. There are many more cars for sale now, and some folks still want big $$, and those are sitting. Within the last week, a friend decided to sell his 88 coupe as he has a line on a 01 Mercedes SL that he can pick up really cheap (relatively speaking). I told him at the first of the year, he would have been able to get $22-23k for his 88, and now he will be lucky to get $20k by the end of the year. I did not purchase my cab for an investment, but because I have always wanted a 911. It is however depreciating less than the alternatives: Z3, S2000, some vettes, etc (which I didn't want anyway), and it's alot more fun than some of my "investments".

Where is the bottom...I don't know but it's a good time to buy an SC or Carrera if you ask me.

Charles
88 Cab

[plain fan]

Not to sound mean to the guys trying to get as much as possible for their cars, but the lower those cars drop the closer I come to getting one.
I would love to get into a 90-95 C2 for around 20K or less. Even if it has some cosmetic problems, those can be fixed for far less than a 8-10K price inflation based on stock market boom pricing.

[JavaBrewer]

After 15 years of dreaming, 1 year of "kinda looking but not seriously going to buy", 3 months of "ok I want to find and buy something", to 3 weeks of "I got the money so find the car", I ended up with my Carrera. It is the color, condition, and body style I was looking for. I bargained and got what at the time was a fair (not great) price on my 86 coupe. The plus side is that other than my 02 sensor and oil return tubes (I'll replace myself), pending tires and brakes, the car has been faultless over the last 8500 miles I've added in the 5.5 months I've owned it. The negative is if I were to sell it today I would probably take a $4-5K hit when I figure in major/minor services I've done as well. The car smokes on acceleration and uses oil at about 1 qt/600-700 miles. My bad that I did not get a PPI but I did buy from a good service center that specializes in P-cars. I was full of lust what can I say!!

The prices are seriously dropping here in SoCal folks, its a buyers market.

[widebody911]

In the latest Excellence, I noticed a lot of track cars on the block.

Welcome to the New Economy.

[pulliamjs]

Rennlist has a '90 964 w/104K miles for $17.9K.

It's pretty clear to me that the 964s represent a lot of car for the money, especially the '90 and '91 because of their well documented issues. Seems like you could get a good deal on one of those if you're careful the leaking gasket, distributor, and flywheel issues have been addressed. The early C4s seem to be underappreciated given the complexity of the AWD system.

The '92 - '94 C2s seem like a good bet, but there aren't a lot of them out there (I don't have production figures, but it's understood that Porsche didn't sell a lot of cars in this period).

Bottom line: the market does seem to be saying that a nice '92 - '94 C2 w/about 50K miles is worth low- to mid-$20s +/- (even though many sellers--especially dealers--seem to be listing these cars for the high $20s / low $30s). The earlier C2 models are worth less. My question is, if that's the case what are the '84 - '89 Carreras worth? What are the '79 - '83 SCs worth? It appears that they are holding up better than the 964s.

[TR89-911]

I know that I am a little further North than most of the posts, but is there some seasonality that should be considered? My car, especially being a cabriolet, tends to swing in value by a few thousand depending on the time of year. Again, I live where it snows and cars like these hibernate for 3 or 4 months up here.

As for dealership trade-ins, I have had everything from $14K to $27K offered from dealerships. I have never really been serious about selling it. The high offer was from the Porsche dealership.

[cegerer]

Beside the economy, I think the aging of the 993 inventory is having a major effect on pre-993 911s. It's fairly common to see 993s below $30,000 these days. That pushes everything else way down.

993 Cab; $28K, no reserve -- http://cgi.ebay.com/ebaymotors/ws/eBayISAPI.dll?ViewItem&item=1870419124