Price Drops Here there and Everywhere...It Has Begun in Earnest

[Vaive]

10% drop, $50K to $45K
http://forums.pelicanparts.com/porsche-cars-sale/1037268-1990-911-c2-coupe-forest-green-metallic-green.html

This guy knows what's up. 4 price drops in a week. Smart move, get ahead of a crashing market. $49K to $43K in a matter of days of listing.
https://preview.tinyurl.com/y4tpzoc

$40K to $34K solid 15% drop
https://preview.tinyurl.com/yxjk2be

25% off
https://preview.tinyurl.com/y4vjpjb

But how can this be? These cars are visceral. I say visceral people!!!!! Like all bubbles eventually do, this one has deflated.

[Rawknees'Turbo]

Originally Posted by Vaive

. . .

But how can this be? These cars are visceral. I say visceral people!!!!! . . . .

At one with the road surface; so much so that who needs power when one has all that visceral!!!

[Unobtanium-inc]

People are just getting the memo late. I haven't been able to buy much this year because everyone has been asking 2 year old prices. People are finally seeing what those of us in the business saw about 18 months ago, leveling off and sometimes dropping prices. But we are also going into winter, the worse time to try and sell a Porsche. Half the country can't drive in the winter, and everyone has holiday stuff going on.
Hopefully come Spring everyone is on the same page.

---Adam

[Alan A]

Well this guy isn’t asking quite what he was 2 years ago for sure.

From 217 to 98 is quite a drop

https://www.pca.org/node/310309

https://www.ferrarichat.com/forum/threads/930-turbo-carrera.344030/page-193 Post #4807

[creaturecat]

wrong crowd. i tried addressing this last month .... to a chorus of boos. i stand by my prediction. 25% reduction in one year, followed by another 25% reduction next year. rare desirables may escape the reductions, to a certain degree.

[specialtyoneinc]

[Nick Triesch]

If you enjoy our car and just have it for fun and do not plan to sell it, what is the problem? If my 85 Carrera went down $15,000 in value I would still have my cool Carrera. Rule of thumb, never use your car or house as an ATM .

[Unobtanium-inc]

Originally Posted by specialtyoneinc

The only people who need to panic are the guys who operate on 5% margins and have been sitting on cars for 2 years, wondering why they aren't selling.

For most of the Porsche world, you can just drive your car and enjoy, that's what I did today. What's it worth? Who knows, who cares.

---Adam

[sugarwood]

Buy now, this is the most these cars will ever drop !!
They aren't making more!!! Water pumpers !!
80s kids are hitting their prime earning years!!!!
These cars will all be worth $100k for a base shell !!

[NYNick]

Originally Posted by sugarwood

Buy now, this is the most these cars will ever drop !!
They aren't making more!!! Water pumpers !!
80s kids are hitting their prime earning years!!!!
These cars will all be worth $100k for a base shell !!

And yet Sugardope still owns a 911 while criticizing ownership.
Talk about irony.

[wayner]

I will take Sugars side on this (unless he is being sarcastic)
But in the short term I'll also take Adams side.

Im bullish in the long term, but, only for the best cars, not the marginal ones with stories.

[Matt Monson]

If they are willing to carry negative equity on their daily driver, why wouldn’t they be willing to with their weekend toy?

https://www.wsj.com/articles/a-45-000-loan-for-a-27-000-ride-more-borrowers-are-going-underwater-on-car-loans-11573295400

[wayner]

My biggest fear is if cars become irrelevant.

Or worse, if crazy people begin chastising you for owning an antisocial object

[matt930s]

[Rawknees'Turbo]

Wayner, raising two tall middles is an easy and appropriate response for chastisement of that nature!

[Matt Monson]

Originally Posted by matt930s

Better get yourself a fat bottomed girl and a case of Dura-flames.

[Vaive]

Originally Posted by Unobtanium-inc

People are just getting the memo late. I haven't been able to buy much this year because everyone has been asking 2 year old prices. People are finally seeing what those of us in the business saw about 18 months ago, leveling off and sometimes dropping prices. But we are also going into winter, the worse time to try and sell a Porsche. Half the country can't drive in the winter, and everyone has holiday stuff going on.
Hopefully come Spring everyone is on the same page.

---Adam

Ahh the eternal hope of spring.....

[pmax]

Originally Posted by Vaive

Ahh the eternal hope of spring.....

Not sure if anyone has brought this up .... you are really and closely channeling a "well known" member here circa 2014 ... look up the threads started by PML.

Quite interesting to see how these things repeat and how some folks never change even though they are not even the same person (I think) !!

[MrBonus]

PORSCHES ARE TOO EXPENSIVE AND ARE FINALLY GOING TO BE CHEAP says man every year since 1962.

[sm70911]

The time to make money on a car is at the time of purchase.This sharp decline been on the cards since the price rise started.
2013/14 was incredible, but if you thought peak Porsche would go on forever, or believed those outfits like Trissl that pretend to have magic ball and suggest their very average inventory was 'investment grade' the joke is on you.

Price a running driving 911 right, it will sell.