Air cooled prices trending down

[nathanbs]

Originally Posted by Vaive

I see this all the time with real estate. I spent $30K on landscaping so my house is now worth $30K more right? Nope. It's at best worth $0 and at worst, worth negative $10K. You may think it's the most beautiful backyard ever created. But to the average buyer it's a bunch plants that take away usable yard space, may cause allergies and will be a real pain in the ass to mow around.

Same concept applies to cars and mods.

Very true most of the time but they will always be “value added options” there are people actually good at knowing what adds value and what does not. Typically people are the opposite like in the example of your yard that you gave. A house with zero landscaping or terrible landscaping will sell for less than a nicely and properly landscaped house

[Matt Monson]

The old rule in cars is that you can get 40-50% of your "investment" back on car mods. Though we also need to consider reconditioning/restoring a car as different than something like a hot rod engine. Using Mac's example. there's no way that doing a 930 brake conversion on a Carrera has zero added value to a vehicle like that.

The garden example may be true for yardwork, but on the flipside if you spend the same $30K on a kitchen or bathroom you can often see another $50k on resale. There's no universal here...

[Macroni]

Originally Posted by 1979-930

He was making a general comment on prices cooling using his own car.

Correct.

(I realize the car will only sell for what a buyer is willing to pay.)

[Vaive]

Originally Posted by nathanbs

Very true most of the time but they will always be “value added options” there are people actually good at knowing what adds value and what does not. Typically people are the opposite like in the example of your yard that you gave. A house with zero landscaping or terrible landscaping will sell for less than a nicely and properly landscaped house

Agreed. Bald tires and worn brakes is the equivalent of the yard full of weeds. It will sell for less than one with new tires and recent brake job.

I never meant to imply that all work done to a car has $0 value. But an $8K brake job has about the same value as a $1500 brake job, to the typical buyer. This applies to all assets and all improvements.

[brisboats]

Me thinks some people's spidy senses are tingling because they own a car of near or same vintage and don't want to look at reality. Reality being, the market has cooled good time to buy what you have been waiting for.
B

[specialtyoneinc]

Originally Posted by Vaive

Sub 100K miles with a $10K top end overhaul in 2017 and didn't crack $30K.

https://bringatrailer.com/listing/1984-porsche-911-carreara-targa-6/

That car looked rough. Crappy presentation didn't help. No wonder why no one bid to $30k.

[Matt Monson]

Originally Posted by Vaive

Agreed. Bald tires and worn brakes is the equivalent of the yard full of weeds. It will sell for less than one with new tires and recent brake job.

I never meant to imply that all work done to a car has $0 value. But an $8K brake job has about the same value as a $1500 brake job, to the typical buyer. This applies to all assets and all improvements.

Wat?

Originally Posted by Vaive

I see this all the time with real estate. I spent $30K on landscaping so my house is now worth $30K more right? Nope. It's at best worth $0 and at worst, worth negative $10K.

Same concept applies to cars and mods.

[thamlin000]

Originally Posted by specialtyoneinc

That car looked rough. Crappy presentation didn't help. No wonder why no one bid to $30k.

Rough? Looks like a good car to me. Recent top end and original paint too.

[ficke]

Originally Posted by thamlin000

Rough? Looks like a good car to me. Recent top end and original paint too.

My thoughts too.
If a person can look past bad ads and see the car, there are still affordable good cars out there to be had.

[Vaive]

Matt,

OK I said that clumsily. You new what I meant.

Most additions to an asset will have an incremental positive value, lower than what is paid.

Some "improvements" can have a negative value.

Happy?

Point stands, that waiting to sell for "what I have into it" is unrealistic.

[Matt Monson]

Originally Posted by Vaive

Matt,

OK I said that clumsily. You new what I meant.

Most additions to an asset will have an incremental positive value, lower than what is paid.

Some "improvements" can have a negative value.

Happy?

Point stands, that waiting to sell for "what I have into it" is unrealistic.

totally happy. I’m just messing. I should have used this one instead.

[Vaive]

Originally Posted by specialtyoneinc

That car looked rough. Crappy presentation didn't help. No wonder why no one bid to $30k.

What was rougher about it? The original paint or $10K in recent work?
I'll grant you the photos weren't A+.

[specialtyoneinc]

Originally Posted by Vaive

What was rougher about it? The original paint or $10K in recent work?
I'll grant you the photos weren't A+.

Looked at it again closely. Rough is the wrong description. Not sure if it's original paint since there is no meter. Pictures and presentation killed it. I bet you it would of brought upper $30s if these guys handled it.

https://bringatrailer.com/listing/1980-porsche-911sc-targa-15/

[Matt Monson]

The green on that '84 is really hard to keep looking nice. Almost as hard as black. That car needs about $2k in detail work before it is listed again. And then professional photography. More isn't always better. Better is always better.

[specialtyoneinc]

Originally Posted by brisboats

Ya see truth is I offered an a hole an olive branch somewhere in the past and he scoffed, so no more. Once an a hole always an a hole I guess, no matter.

OK , back on point the 89 G50 with 66k that ends in 17 hrs on BaT. If that car is bid to low 30's that ought to give y'all a fair indication where the air cooled market is. Damn right it has cooled IMO

And Matt, from here on I'll just scoff at your stupid post privately just like I have for the last few years but when you start treating other members like shyte, darn right I'll call you out. No need for it, it ain't your pond, 15000 plus worthless posts or not. You can PM if you like cupcake but you won't like what I have to say.
B

$52,500 plus fees. I don't think G bodies have cooled too much. The 930s for sure though.
https://bringatrailer.com/listing/1989-porsche-911-carrera-21/

[Matt Monson]

I think the color combo likely gave that car a $5-7k bump. But agree, Carrera market is fine. 930 auction results this spring were flat to down according to the newsletters I read.

[trader220]

The market does not care what price you're long or short from.

Where you're long or short from has no bearing on the current market price.

Long before I was a trader, my grandfather who was an NYSE specialist for 50 years taught me those two lessons.

I think Mac's car would do $50k if presented well in the right place.

I pay a photographer to shoot my cars for auction. One of my friends has sold dozens of cars on BAT and its pretty clear from his results that the ones he paid to have shot did much more than the cost to shoot.

[Randy W]

I shoot cars all the time for auctions. It's added value undeniably - and it's always more than my fee.

[da Vinci Dan]

Time to buy a 930

[pmax]

Originally Posted by specialtyoneinc

$52,500 plus fees. I don't think G bodies have cooled too much. The 930s for sure though.
https://bringatrailer.com/listing/1989-porsche-911-carrera-21/

Right at the market for a driver level G50 which this one looks like it is. Could have easily gone higher if in better condition.