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I too have been surprised at the prices of the M96 996 cars. The only thing I can come up with to explain it is the same thing that has affected 986 prices, people read about them and are scared and so they are tough to sell, not appreciating, etc. Add in that some are now 20 years old and lots more work on them needs to be done, parts and labor hours are expensive and you have big $$$ to maintain a reliable car. 100k miles scares lots of people and Boxsters and even Caymans accumulated lots of daily driver miles.
A while back, in my community there were several of us who had 986 era cars, now not so but a few 993s. Since it is a community populated by people in the prime years of "boys with toys", I think this expresses the collective opinion about the value of these now old cars.
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