[ThomasVDA]

Hi all!

A little story from the "other side" of vintage Porsche ownership! Not that it matters, but to give some perspective to all of the "bubble-or-not" posts:

10 years ago I was the proud owner of a 1965 Polo Red 912. Nardi steering wheel, fog lights, rear window wiper, 3 clocks and four gears. Matching numbers and lots of 356 trim.

I bought it for 11.000 euros. It was either that or a tangerine 1969 911T coupe with airco for 13.000 euros. Back then the euro was strong compared to dollar, and a lot of California cars made the trip back to Europe. Condition 2 car, verging on condition 1, at the time. For your info: I didn't care about the car being a 1965. Didn't care about it being a matching numbers. Didn't care about pristine paint. All I cared about was that the body was hard and rust-free, and the engine still had 89 of the original 90 horsepower. Yeehaaaa!

I sold my 912 when my (then) girlfriend wanted to go back to college, which her ******* parents didn't want to pay for. Sold it for 11.000 euro after having it for three years, because there were some rust issues that needed to be taken care of. Condition 2 at that time.

The Porsche scene was really cool back then: rich banker types bought Boxsters, Cayennes and the latest Carrera 4S cars, and the less wealthy like me drove their 912s and 911s. Hard! I stopped driving like a madmen after doing a 720 on the freeway :-) As we said in our aircoolers club: "You've got people with money and people with taste".

I sold my 912 back to the previous owner, with a gentleman's agreement to buy it back when I got some money in my hands again. Then I started my own company, then I bought a crappy house that needed remodeling. As most of you will probably know, it's madness to convince the misses that a classic Porsche is a necessary purchase when you still don't have a bathroom installed. So I held out on buying the 912 back until I had done some more sensible things.

Now I have some money again, for the first time in years. More than before, actually. I could spend 20.000 on a nice 912 now, probably, provided I wouldn't run into unforeseen issues regarding rust or engine. Unfortunately 912 prices in Belgium are starting around 25.000 for non matching ones, with busted gearboxes or carburators. A 1965 one like mine starts at 40.000, up to 60.000. That's in euros!!! Naturally the gentleman's agreement to buy the car back didn't hold up once rapid appreciation began...

In the meantime I am confronted with all sorts of nitwits and rich kids driving showroom condition 911s and 912s around the posh part of town. When I talk to them and say it's weird that their SWB car has a later era clocks, they don't know what I'm talking about. Rich clients jump aboard and order their longhoods to spec (yes: they effectively "order" their cars in this and that color, with this color of leather and these options and have 'em restored this way).

I can not speak for other parts of the world, but let me tell you: very few of the recent buyers I see overhere have a true and genuine love for their cars. Most have one because it is the latest fad in the fancy beachtown resorts, and because intrest rates are so low that they have money to burn. It doesn't hurt that prices rise so fast, so a lot of people buy up 911s and 912s just because they yield a higher return than banks can give at the moment. Cars get flipped and sellers put ridiculous prices now and then, just to test the waters. And boy are some people uninformed. Some of my clients are fairly wealthy and have jumped into the longhood waters recently. These guys have no clue whatsover about Stoddard or Pelicanparts - and they are basically being ripped off by mechanics telling them that their headlights lenses are super-rare and not being produced anymore. I would say "not my problem". A fool and his money etc... But it's the same guys that then proceed to calculate this into their asking prices when they flip it.

Is it a bubble? Noone can tell. But it sure is a shame...

And now I'm one those guys that scavenges the internet forums for opinions about bubbles, for one reason: the very very very superficial hope that it is in part a bubble and speculation. Because that is probably the only scenario in which enthousiasts like me can ever dream of owning a classic Porsche ever again. Mind you: I'm realistically pessimistic. All of those "rich-kid banker types" (no offense to bankers in general, but you know what I mean) have plenty of cash, and no reason nor need to sell it for less than they paid for it - and a lot of 'em have paid crazy speculative prices.

My point being: have some mercy on the people starting and following bubble topics. Yes, you are 100 percent right: people should stop whining and just drive the damn things. Life is too short, and things like a roof over your head, good health and friends and loved ones are waaaaay more important. But some of us people babbling about bubbling are actually genuine lovers of aircooled history who would love nothing more than to just drive the damn thing again instead of talking about the prices.

Cheers - here's to hoping I'll find a nice 912 driver one day!

Best,
Thomas