Quote:
Originally Posted by COLB
Ford made 559,451 Mustangs in 1965 alone. That is more than all the 911s built in any generation combined.
The 73,000+ Convertibles they made in 1965 is more than all the SCs that Porsche built. And they made even more fastbacks: 77,079.
A relatively common '65 289 convertible with a 3-speed in very good shape, but not original or concours condition, sells for more than all but the most exceptional SCs.
Those who are convinced that "the bubble" is a passing phenomena, perhaps driven by an exceptionally cold winter (PML) are probably wrong. No doubt there will be ups and downs with the US economy, and short term price corrections, but the market fundamentals for Porsches are pretty sound in terms of supply and demand.
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COLB, what you ignore are the macro variables at play.
The very same production numbers dictated an equilibrium price 50% lower just a few years ago.
Therefore, they are not the reason why prices have spiked since, and can not be a justification for current prices.
As we've discussed, "It's the economy, stupid" that is fueling the demand side.
Any asset price that rises 50% in 2 years with no change to the fundamentals is suspect.