Quote:
Originally Posted by SalParadise
Except when they were new.
Market correction? An '89 Carrera 3.2 was $52k new. Now, almost thirty years later you can get the same car for the same price. Many people appreciate them, and many people (me included) believe that $50K for a nice 3.2 in 2018 is very good bargain.
Aircooled 911s are actually not that high - compared to other things. A 2018 Audi R8 is $170K, a new 2018 911 is $95K plus.
What people fail to see when they say these things is that an aircooled 911 Gbody is no longer a used car - it is a hobbyist, enthusiast collector car.
You ever drive a 993 vs. a 964 vs G-body 911? The 993 is heavy. It's incredibly refined and lacks a personality.
I don't see a market correction. There just aren't enough clean cars on the market at any one time. How many lowly '74 or '75 911 Coupes or Targas are on sale in the world in any given week. 20? 30? I don't think it's even that high.
There will always be buyers at the current prices - and the cars were undervalued for so long that people just got used to it.
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I don't entirely disagree with you. I don't think prices are necessarily going to take a dive, but I do think they may soften a bit over the next year or two compared to now. I have owned a 964 and a 997, and driven 993s and 3.2s. The 993s and 964s are more insulated from the road and less raw than the 3.2s, but nothing like a 997.
And as far as there not being enough clean cars on the road, well, that's just the thing. Even $45K SCs and 3.2s seem to have one issue or another that will require several grand in sorting. I think it's getting to the point of driving a lot of people away from the hobby as they are becoming unaffordable. I bought my 964 back in 2011 for $18K and doubled my money on it just a few years later. Most anyone can afford an 18K car, but 40K?. That eliminates quite a number of people, thus driving demand down. Furthermore, the European market is not nearly as strong due to a weaker euro. A dealer confirmed that he has taken massive losses on late 70s turbos because of the declining European demand. Every other collectible car has gone through the same trend. Why would porches be exempt?