And that’s a finished car. Precisely why I said you’d need to have a screw loose to pay north of 40k for this. On a really good day it’s 30k or so worth of parts.

I'm going to say it's way past the time where you would ever part a car like this. People love to see diamonds in the rough - and are paying insane prices for projects that make no economic sense (especially to many on this board).

I don't think in 2018 that any 1977 Turbo should be parted when it looks like this one. I believe anything in the 40s would take it home and should take it home. If he were to drop it into the 30s many would be all over it.

Would I do it? No, but many people who have felt priced out the past five years will think otherwise.

And those same people would be even further priced out once they spend ALL the money it takes to finish this project. They’re not all diamonds, some are just coal, that’s what this is. This is a parts car unless you’re ok with being upside down on it once finished.

I say it's at least a 40% hit to the valuation. Love it.

So, a generous $75K for an otherwise pristine example which this is a generous $40K from. Add the discount for the middleman flipper and you're there.

I could see someone paying $35k for this project, but that someone isn't me. $40k is a reach.

I'm not disagreeing with you. But people absolutely love being upside down and sideways when it comes to Porsche aircooled projects.

So many people love being upside down in projects lately - it makes no sense to me. The overly optimistic crowd who buys cars with no floors, no engines, rust everywhere amazes me. Have you seen some of the longhoods Adam has sold in the past five years? Some of the 356s that he has sold? There seems to be no end of the the love people have for them. I get depressed just seeing the photographs.

People love to save these cars now. The disease of overpaying for every aircooled Porsche project has not gone away. The terribly awful cars that go for high prices make no sense, when a much better car can often be purchased for $5K more (the price of tires, a couple seats, and dash) - not even considering the expense of paint, bodywork, and the like.

All I am saying is that I have seen hundreds of worse cars purchased in the last five years. Someone at least would have floors on the this car to begin with.

77-930 value
 

I love Turbo topics... [emoji38]


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Sal...While I agree with you that there’s the crowd that loves to take on these projects and be upside down on them, I don’t think it’s necessarily by choice. I think it’s more due to the lack of funds needed to go out and buy what they want all at once - a cool finished car. They end up upside down on these because they don’t have say 60k all at once to buy a finished car, so instead they’ll reach for a turd (sorry OP) like this project, and pay say 40k (using the reach theory) for it, justifying to themselves that they’ll end up saving money on it in the long run. WRONG. Then 2 years and 60k later they realized it cost them 100k all in to finish it. Now they can’t sell it for anywhere near what they’ve got into it to get their money back, and they’re back at square one. They’re tight on cash and upside down on a Porsche hot rod that they built to they’re liking which narrows down the buyers pool to slim and none. And slim won’t pay them what they’ve got into it. You’re right that it’s a disease, cause they keep doing it and keep losing money that they don’t have.

Maybe if it were easier to finance older (complete) cars, this crowd wouldn’t be forced into piecing a car together and being upside down on it. But then again that same crowd that pisses money away on these projects is also the same crowd that just can’t rationlize paying interest on a car loan to finance one either. So even if it were available to them they would still probably pass on it, and opt for the 2 year turd project.

To bring it back full circle to the OP, is his friend one of these people that can’t afford to buy the Porsche they want all at once? Maybe that’s why they started the thread...they know it’s not smart money, but at the same time it’s the only way they’ll be able to own a ‘77 turbo carrera, albeit one with a big * next to it. If you just have to have a ‘77 turbo carrera and don’t have the funds for the right finished car, this is what you end up with.

At the end of the day what is this car? A '77 Turbo Carrera. That's not too shabby. It's one of 700 odd US cars and one of 1400 made. How many exist? 1000? 750? Less?

Adam had a very interesting story that many of us read. His friend bought the 550 Spyder that has the VIN next to James Dean's car. The car was a ball of aluminum, but he wanted to get in before 550 values went way, way through the roof and paid $10K. Everyone laughed at him. Now he's in the game and would never and could never be in the game in 2018. Even if he had millions, he probably couldn't buy the one 550 that is the closest to Deans on this entire Earth. It minus well be his car.

A lot of project cars get bought because people are dreamers. People buy rusted hulks of 911Ts, 991Es, and strangely enough midyears and SCs with the hopes of living the dream. This makes no sense to me even as I can do most of the work, but time is important to me. People have no idea what it takes physically, monetarily, emotionally - everything takes its toll. At the end of the day these cars ALWAYS cost more than a much better car to begin with but then they wouldn't be living the dream. But people do it.

Some cars are more worth it than others. This one is one of them. Whether that is worth it to you or not, maybe it is - or maybe it isn't. I wouldn't do it but others would. BHCC would buy it in the $30K region for sure if they already haven't.

I was never said it was for me. But it's for someone, and I know there is more than one who would push it past $40K.

Sometimes a project matures in value while you own it. I know a number of 356 guys who spent $50k over a decade on what is now a $75-100k car. It is an effective means to "finance" a project if done right. They aren't all losers.

That’s dumb luck though. Granted it does happen, but it’s definitely not something to count on.

Sal, BHCC was the first thing I thought of when I saw this. You’re right, they could off load it to them and they’d duct tape it back together all safari jacked up looking as they do, and then try to flip it.

Definitely shouldn't count on it, but I think sometimes that thinking influences a buy. To Sal's point given one's position on the 930 market in ten years a guy might roll the dice.

. I also know a couple shops who could make a car like this pay. You don't restore it, you just put it back together and sort it. It's a step further then what a bhcc does.

Or maybe just maybe the OP can find the needle in the haystack. Post WTB listings on all of the forums looking for his engine, offering up the engine he has plus cash for the swap. While highly unlikely to find it, I'd consider parking this project for a bit to at least give it a shot. If he's successful, then this is a whole different conversation. If there is no rush in starting this project or getting rid of it, I'd give that a try first. There's no harm in it, just down time.

Sorry to see that Paul is giving up on this project but I understand - life gets in the way.

A bit of background: This car was listed here several years ago by someone in Fort Collins. Their plan was to put a small block Chebby engine in it. Fortunately their plan stalled before the car got hacked up. That's when Paul (the current owner and friend of mine) bought it. The seller had sold the original 3.0 turbo engine and claimed to not know what became of it. At some point later it resurfaced and the original seller offered it for sale in its completely disassembled state. At that time Paul's plan was to install a spare hotrod NA engine he had sitting around so he didn't pick it up. I pondered it but figured it would sit in a corner of my garage for god-only-knows how long. The engine was bought by someone in Canada that wanted the 3.0 case for a race motor. Paul knows where it is and has been chasing it for awhile. So it is out there. Hopefully someone can pick it up and get it back together with the parts that are there. There has to be some value in having a 3.0 Turbo that can be driven and enjoyed without worrying about diminishing its collectability. No idea what that number is but that's what you guys have fun debating! -John

PS to the OP: Jacob, please tell Paul I said hi. We lost contact awhile back. Hope he and the family are doing well. JL

Interesting story....so it's not a needle in the haystack at all, it's just a matter of money. I'd say that totally changes things, the original engine should be reacquired to put her back together, albeit in the original color as well. If the owner doesn't have the funds to do so then maybe a third party could step in and buy all of it as a package, with the spare engine going back to the current owner of the proper engine. Just a thought...

I own a project US 1976 930 Turbo with matching numbers and all parts. I would sell it for $100k if anyone is interested, send me an email. jamie @ kutchwines . com

That's hilarious! I think this would me more proper under the thread "Prices that make me laugh". Good luck with selling a heap of matching parts for 100k when a complete car is barely breaking 100k (with BaT commish).

https://bringatrailer.com/listing/1976-porsche-930-turbo-carrera-3/

That BAT 930 was an unreal steal.

Think no one believed it would go without reserve, and that low.

Or it was just the market. The only ‘76 to sell, or even get bid well above the 100k mark this entire year on BaT, was an ultra low mileage example in probably the most desirable color - ice green metallic.

I don’t know how many miles are on this project car offered up at 100k, but it’d have to be extremely low to get those dollars for it. And that’s if the seller can even convince a buyer of said ultra low mileage and still being in need of a restoration, which isn’t likely. Otherwise it would need to come with a complementary restoration to get it sold at that level. There’s a ton of pie in the sky by current owners that missed the irritational prices being realized a few years ago, nobody will pay 100k for a trailer full of parts when you can get a running 930 for that same money or less. This is pie in the sky.

Thanks for all the feedback guys! Some interesting takes on this car and its value.. always hard to put a price on something in this condition along with non numbers matching as they just don't hit the market that often or at least not much data to go on for values.