911 prices

[rgmrgm]

Was watching Mecum's auction show on TV last week and a nice looking 1984 911 cab did not sell. Bidding stalled out at $17,000.00. Auction was in Portland. Are the good times over. Newer cars are so much better to drive. Are air-cooled porsches relegated to an over supply collectors market?

[KNS]

Prices have flattened but I would never auction a Porsche with Mecum - wrong audience.

[smadsen]

I think you could double that price for a coupe in excellent condition.

[Superman]

Honestly, regardless of current/past wild fluctuations, I think these cars have a robust intrinsic value. They are virtually as iconic as ANY car EVER. They are cute as a bug's ear (especially the G-body cars). Relatively speaking, they are inexpensive and easy to maintain. Parts are available, at non-Ferrari prices. Ease of maintenance is deliberately designed right into these cars. Brilliant, simple design. Last but not least: They are a BLAST to drive. I think they are, legitimately, $40-$50K cars.

One more: They are reliable. We can repair and maintain these cars to the point where a 10,000 mile trip can be undertaken with nearly complete confidence in reliability. These cars were designed to run near redline for 24 hours.

[Coastr]

Cabs are not chased by the collector market anywhere near as much as coupes or even targas . Not indicative of the market.

Personally if you could buy 911s at 17k again I’d be doing cartwheels of happiness rather than mourning the loss on my latest purchase.

[Chi-Town]

I'm seeing open market prices come down to close to reasonable. 76+ cars under $25k all day long on many classifieds.

I think the more rare and unique cars will stay up there but I think the bubble has started to deflate on average drivers.

[Jack Stands]

I think Mecum does much better with muscle cars than Porsches - wrong crowd in attendance. RM Sothby’s or Barrett-Jackson would probably have more appreciative audiences, and Amelia Island may provide a better venue for Porsches.

[Rawknees'Turbo]

Originally Posted by Superman

Honestly, regardless of current/past wild fluctuations, I think these cars have a robust intrinsic value. They are virtually as iconic as ANY car EVER. They are cute as a bug's ear (especially the G-body cars). Relatively speaking, they are inexpensive and easy to maintain. Parts are available, at non-Ferrari prices. Ease of maintenance is deliberately designed right into these cars. Brilliant, simple design. Last but not least: They are a BLAST to drive. I think they are, legitimately, $40-$50K cars.

One more: They are reliable. We can repair and maintain these cars to the point where a 10,000 mile trip can be undertaken with nearly complete confidence in reliability. These cars were designed to run near redline for 24 hours.

Relative to what - Lambo, Ferrari and light aircraft?

I consider these very expensive to maintain at a high level (when used - not when parked in a garage where the owner waxes poetic about the 911s' bulletproofness. . . not implying that is you), and when something major goes wrong (which it will, as these are ancient machines), then be ready to grab your ankles for lengthy periods of time. Now throw in having to hire the work out, and you've got a ginormous money pit on your hands.

Yes, parts are available - not expensive compared to Ferrari, but ridiculously expensive relative to most other machines, and often the new parts are shiit quality (garbage rubber components, garbage electronic components, etc.).

[robertmark]

Sotheby’s and Gooding for Porsche. Barrett Jackson is the worst imo for European. They are all muscle, and corvettes.

[Marine Blue]

Originally Posted by rgmrgm

Was watching Mecum's auction show on TV last week and a nice looking 1984 911 cab did not sell. Bidding stalled out at $17,000.00. Auction was in Portland. Are the good times over. Newer cars are so much better to drive. Are air-cooled porsches relegated to an over supply collectors market?

That’s a pretty significant conclusion your drawing from a single sale with very little facts to work from.

[specialtyoneinc]

Originally Posted by rgmrgm

Was watching Mecum's auction show on TV last week and a nice looking 1984 911 cab did not sell. Bidding stalled out at $17,000.00. Auction was in Portland. Are the good times over. Newer cars are so much better to drive. Are air-cooled porsches relegated to an over supply collectors market?

https://bringatrailer.com/porsche/impact-bumper-911/

[Unobtanium-inc]

The market is flat for all air-cooled cars right now, but this was bound to happen, you can't sustain a white hot market forever. And before a few of you guys point out some really nice examples that are still bringing solid numbers we aren't talking about outliers, we are talking about the market in general. 3-4 years ago anything air-cooled was selling for high dollars and selling fast, now not a lot is selling and it's selling slow, that's the facts.
The only people who get hurt in this kind of market are the guys who buy on razor thin margins and bought recently with old data, there are lots of these guys out there, many have been calling me lately trying to unload cars on me, I give them a number, they choke and say something to the effect of, "that's way less than I paid, WTF?"
Guy called me last week about a Speedster, I sadly burst his bubble. He was working off old numbers when he bought, I told him he should of called me before he bought it.
Anyone who bought for themselves and paid a lot, well enjoy your car, it might not be worth as much, but it doesn't make it any less of a bad ass Porsche. That's how I treat my cars, who cares what they are worth, they aren't for sale.

---Adam

[pmax]

Originally Posted by Rawknees'Turbo

Relative to what - Lambo, Ferrari and light aircraft?

I consider these very expensive to maintain at a high level (when used - not when parked in a garage where the owner waxes poetic about the 911s' bulletproofness. . . not implying that is you), and when something major goes wrong (which it will, as these are ancient machines), then be ready to grab your ankles for lengthy periods of time. Now throw in having to hire the work out, and you've got a ginormous money pit on your hands.

Yes, parts are available - not expensive compared to Ferrari, but ridiculously expensive relative to most other machines, and often the new parts are shiit quality (garbage rubber components, garbage electronic components, etc.).

[hda]

Here is how I see it with songs
912 owners: “Don’t stop me noooooow... cuz I’m having a good time”
911 bumpers / SC: “don’t stop... belieeeeving”
964: “cant touch this”
930: “ yesterday.... all my troubles seems so far away”

Please edit / continue

[trader220]

Originally Posted by hda

Here is how I see it with songs
912 owners: “Don’t stop me noooooow... cuz I’m having a good time”
911 bumpers / SC: “don’t stop... belieeeeving”
964: “cant touch this”
930: “ yesterday.... all my troubles seems so far away”

Please edit / continue

Guys who bought these cars 3 years ago

912 owners....."wholly chit, this car is worth how much now?"
911 SC/Carrera ...."guess I'll just keep it and drive the snot out of it"
964 "this baby's going to the moon, I'll never sell till even the beaters are $100k"
993 "this car is worth what? No way I just paid more 2 years ago and was told it's a good investment"
930 "I am putting my head back under the covers, no way this car is only worth that much now I refuse to belive that"

[Vaive]

Economy is showing signs of a slowdown. Housing market is in decline, all that sweet sweet HELOC money is no longer available. And when that money's gone, few people will be dropping $40-50K on a 40 year old Porsche.

[trader220]

Originally Posted by Vaive

Economy is showing signs of a slowdown. Housing market is in decline, all that sweet sweet HELOC money is no longer available. And when that money's gone, few people will be dropping $40-50K on a 40 year old Porsche.

Not sure where you live but the housing market around here is not slowing. I don't think a lot of people are taking out HELOC's to buy vintage cars. The economy ebbs and flows. Lets see the FED wack rates and keep it going. One thing is for sure 2020 is an election year so you can bank on the Republicans doing everything they can to keep the economy doing as well as it has been.

[JMS935]

The housing market is a local market most of the time, so saying it’s in a decline (meaning all of it) only holds true during major economic downturns. I’m seeing big gains over the past year or two where I’ve got some money parked. Heloc rates have gone up, but I’m not sure how many people are buying old cars with that money.

[trader220]

Originally Posted by JMS935

The housing market is a local market most of the time, so saying it’s in a decline (meaning all of it) only holds true during major economic downturns. I’m seeing big gains over the past year or two where I’ve got some money parked. Heloc rates have gone up, but I’m not sure how many people are buying old cars with that money.

I don't follow the HELOC market but I can't imagine they've gone up any significant amount if at all in the last few months.

[JMS935]

Originally Posted by trader220

I don't follow the HELOC market but I can't imagine they've gone up any significant amount if at all in the last few months.

Not in the last few months they haven’t, but they’ve doubled from the low a few years ago. That’s a substantial move even though the rates are still low historically speaking.