# of Porches for sale?

[CMDR Perry]

It seems there is a very large number of P cars for sale right now on PP. Why is this; is it the economy, the aging boomers or the desire for something with lower maintenance costs? Are people trying to simplify their lives or maybe part of it is the resurgence of American Muscle?

It appears to be very much a buyers market with supply way above demand.
Just curious what others think about this situation.

[Zeke]

Originally Posted by car-reras

I don't think so. You are just seeing a lot of non desirable examples that people want to get out of.

I recently listed my 73 RSR look, and had more interest than I could handle. I priced it for at least a few thousand more than I was willing to take, and still had people wanting to pay more than I listed it at.
Since I had to take cash for it, I pissed a lot of guys off here, and ultimately pulled the ad. There is even a thread about my sale here.

Had I been willing to take bank traceable funds, it would have sold the first day, several times over.

If you are selling the right car for a realistic price, the ball is still in the sellers court.

I can't see another way to sell a car these days other than cash. WTF are buyers thinking? We're getting a ton of phony 20 dollar bills at garage sales and places like that which make even the cash thing scary. You buy my car, you meet me at my bank and give them cash and they deposit it. That way the bank is responsible. If you want to fund the purchase some other way, call my bank and ask them. Not me.

I walk out of the bank knowing my money is "in the bank."

[dienstuhr]

Originally Posted by milt

I can't see another way to sell a car these days other than cash. WTF are buyers thinking? We're getting a ton of phony 20 dollar bills at garage sales and places like that which make even the cash thing scary. You buy my car, you meet me at my bank and give them cash and they deposit it. That way the bank is responsible. If you want to fund the purchase some other way, call my bank and ask them. Not me.

I walk out of the bank knowing my money is "in the bank."

Bank wire transfer? Safer than cash. You confirm with your bank that the money has arrived and it ain't going nowhere.

I think the scary thing is the idea that I go meet someone I don't know to buy their car, carrying $20K in a suitcase?? Now that is a "WTF" in my book.

Perhaps people were nervous about Car-reras because of the "can't take a payment that is bank traceable" issue. That just sounds super-sketchy and I would run a mile from that deal. I'm sure Car-reras is on the up-and-up ('cos he's a Pelican :-)) but why no bank tracing? Bankruptcy, criminal or divorce issues? I'm going to try and find that thread...

Back on topic... I've been helping a friend look for an '84-'89 Carrera and there is very little good stuff around that meets his specs.

Cheers

d.

[CMDR Perry]

Still I must disagree, many of the cars for sale on PP look good on paper to me.
I think the numbers are up, everyone must believe spring is the best season to move their car at a good price. Just my 2 cents.

[HunterVonWurst]

Originally Posted by CMDR Perry

...everyone must believe spring is the best season to move their car at a good price.

As with everything else seasonal. Homes start selling in June (end of kids school year), cars/motorcycles in the Spring. Project cars in the fall (people need something to do over the winter) and watches/jewelry sell well on E-Bay just before Christmas.

It's seasonal. That's all.

[techweenie]

I'm seeing fewer of the 'desirable' cars out there at the moment. I.e., longhoods, SCs and Carreras. Even 964s and 993 seem scarce to me. So from my perspective there are far fewer Porsches for sale than 2-3 years ago.

There are other wacky things about the market, like why a well-patina-ed '72 brings 2-2 1/2X what a Carrera does, but probably that's for another thread.

[fryardds]

I certainly don't follow the market like you do, but from what I see (or more correctly don't see), I have to agree. There is a noticeble lack of top quality cars for sale and I can't figure out why that is.

Maybe most of the guys that have these very nice cars want to hang onto desirible hard assets in this era of crazy money printing.

[techweenie]

Brian, I just got through an extensive search for a car for myself, and found exactly one Carrera coupe for sale. And I bought it.

I think one of the things you and I are seeing is that people feel the market is 'off' and aren't advertising their cars. I mentioned the one I bought to an acquaintance and he said 'oh, I have an '88 Coupe and Targa for sale.' I said: 'where are you advertising them?' He said: 'I'm not.'

I know of a LOT of "quiet" sales of un-advertised cars. For instance, I just found out a local '66 911 was sold privately for $45K. It was not all that special, but the owner had had no intention of selling.

I also hear daily that the Euro is soft against the dollar, but it's where it was 3 or so years ago, so that's totally bogus. I'm working with a couple of buyers here and in Europe, and I'm struggling to find 'em cars.

[fryardds]

This explanation makes more sense than what I was thinking. So there are quiet sales going on 'behind the scenes'. I sure expected more visible sales following the financial meltdown and the continued poor economy.

To back up another point you made. I have good friend also in classic car sales/brokerage business and he too has some clients wanting really good cars but he too can't seem to find what he wants for them. Interesting times for sure.

[techweenie]

I'm not privy to the psychology, but I suspect that because -- for instance -- Southern California has high local unemployment, some people would not want to "conspicuously consume" high dollar rides. At least, that's my guess. Hence 'quiet' searches and transactions.

I know of one search -- now going into its 7th month -- for a super clean, well documented '73 S coupe with well over 6 figures available for the right car. But no candidates have appeared.

[Sunroof]

You know, sometimes all it takes is the "For Sale" sign in the back window. If I get dads hanging on my bumper in SUVs and minivans admiring an older cool longhood when I go out for a run, a FOR SALE sign can get a heck of alot of attention! I should experiment!

My point? Porsches are not necessarily advertised on Pelican, Autotrader, PCA or Rennslist, etc. I bet the old for sale sign would suffice just fine in a Porsche loving city like Atlanta, GA. Some of the best buys have gone this way, including my first 911 (1974).

[WPOZZZ]

Originally Posted by Sunroof

You know, sometimes all it takes is the "For Sale" sign in the back window. If I get dads hanging on my bumper in SUVs and minivans admiring an older cool longhood when I go out for a run, a FOR SALE sign can get a heck of alot of attention! I should experiment!

My point? Porsches are not necessarily advertised on Pelican, Autotrader, PCA or Rennslist, etc. I bet the old for sale sign would suffice just fine in a Porsche loving city like Atlanta, GA. Some of the best buys have gone this way, including my first 911 (1974).

A lot of cars are also sold by word of mouth. Case in point is my concours 79 930. i thought about selling it, but didn't post any ads as I did not want to deal with a bunch of looky loos. A friend was also selling his 964 and a prospective buyer looked at his car and started talking about turbos. My friend brought him over to my house and the car was sold that day.

A friend has a Porsche/BMW/Benz shop and many owners leave their cars with him when they no longer have the desire or ability to drive their cars. In the past few months, an 83 sc and a 86 Carrera was sold out of there for very low prices. A 89 635csi was sold last week. Next up is a 928 and an E34 M5.

[fryardds]

Originally Posted by techweenie

I know of one search -- now going into its 7th month -- for a super clean, well documented '73 S coupe with well over 6 figures available for the right car. But no candidates have appeared.

You mean he hasn't found what he wants at Richard Sloan or Autosport? They always have 6 digit early 911s no matter what the condition.

[zioo]

Speaking of cars in poor condition and of cars that do not hit the "desirable" list, it is interesting that the magnesium cased 1984 911's do not appear currently in the 'for sale' category on the net or in the auto trader. Does anyone believe that those cars did not hold up enough and that the numbers are declining faster than other years? -zioo