[wayner]

I think the biggest thing that we are seeing is that the feeding frenzy has subsided.

The right guy will pay the right money for the right car.

Around 2014 I think that there were many of the wrong guys paying the wrong money for the wrong cars
(This would be the marginal end of the market)

To my mind the 964 was one of the ugliest (thus good Singer donor car)
but one of the most competent (but to an ugly car, just not as attractive as some other years, so for that reason also not worth as much )

Also, many cars that would have been chopped up in the few years before, instead became bid up auction material.

The rest, the good ones, will always have value as long as there are the right people (however long that will be)


The other effect is that a special car that would have taken many months to find the right buyer, instead often quickly found a buyer (any buyer) in the feeding frenzy.

The frenzy has settled out. The marginal cars and marginal buyers have cooled.

Factory five (the cobra and daytona cars above) find buyers for $20k kits that often cost $70k by the time they are complete.

They sell a significant volume of those kits.
Those kits are not of high school cars, they are of icons.

The debate here might head towards weather a classic 911 is an Icon (like a cobra) or is it a high school car (like a Duster)