Quote:
Originally Posted by porschenut
I've been scouring the G50 market on a daily basis for the last 4 months, what you said is pretty much the situation. I finally bought a coupe last week from Holt Motorsports, and paid a bundle for it. Tim and I talked a lot about the market, and what's happened is that so many of the really nice G50 Carreras have been bought by German buyers (dealers, primarily) over the last few years that it is getting very difficult to find top quality cars that are low mileage and 100% original. He said he may have to start selling Boxsters and Caymans. The other dealers of top end Carreras (Truspeed, Sloan, etc.) have all said the same. They are selling most of their best cars to German dealers who fly over here and buy up 6-12 at a time. In Germany, many of these cars are selling for the equivalent of $80,000 USD. That's why you're seeing dealers ask stupid money for Carreras and they don't budge on price - they don't have to. I decided I had to have a top quality car and was willing to pay for it, so I did. I believe the market for Carreras, and especially the G50 cars, is going to go much higher in the coming years as the supplies in the US dry up. Even exceptional 84-86 cars are selling for high 20's, low 30's all day long. Any Carrera you find at 25k and lower is going to have high mileage or something wrong with it (paintwork, accidents, non-original parts, or worse). The market is chock full of average to below average cars. The really nice ones command a hefty premium.
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Interestingly enough, my car was purchased by its previous owner from Holt back when these cars were reasonably priced. When I bought the car from the PO, he had an offer that matched mine from a dealer but was a class act to hold our agreed price while allowing a PPI, a prerequisite the dealer didn't require.
Before I came across my car, I did call Holt about a clean white '89 with 51,000 miles on his lot and he wanted mid-40s. I nearly choked when he quoted me that.
I also found a beautiful 5X,000 mile slate grey '86 listed for mid-20s in California. I sent the pics to a friend with an exceptional eye for issues and despite a clean Carfax, he said with certainty the car had been in some kind of front-end collision and was able to point out some clear anomalies in the way the front fender fit and how the paint on the hood was clearly different than the rest of the car.
I'm glad you were able to find the right car for you. I never purchased my car with the intention of buying an investment and I don't want to not enjoy it as a result but I am keenly aware that G50 prices are going to continue their upward trend.