Clueless car guys: "If you don't value cars exactly like I do, then you are a sucker"

[sugarwood]

Sold for $165k
https://bringatrailer.com/listing/1983-porsche-911sc-60/

For anyone with a clue, it was plain to see from day one that the market would value this car at $175k. Anyone who was surprised at the final bid is just ignorant and clueless. It's that simple.

There are a lot of people on this forum who are consistently befuddled about prices in the marketplace. Since they literally can't understand what is happening, they resort to calling everyone else in the marketplace a sucker. These people are likely very narrowminded, and can only see the world in a single rigid inflexible manner. My way or the highway.

What is their mistake? Why do they not understand the market reality? They are assuming that everybody is maximizing THEIR utility function. So, when things happen outside of these narrow parameters, their minds melt, and conclude that anyone not exactly like me is a "sucker"

Not everyone values cars exactly the way you do. You may think an unrestored 120k mile G50 for $35k is the ultimate buy. Other people value comprehensive nut and bolt restorations over an average car. They are well aware they are paying a lot more for a frame off restoration build. The market does not only have one segment, yours.

There is a ton of value in the $165k build. $10k gearbox rebuild? $40k engine rebuild? $30k paint job? $30k suspension job? $30k interior restoration? $20k cosmetic mods? $10k 930 brakes? The list goes on. Now add the premium of a finished turnkey product instead of a 2 year project. A nice value for the buyer, getting $220k worth of build for $175k. It's like the buyer got the car for free.

Not everyone values this, or is willing to pay for this. Like you, maybe they want an unrestored G50 for $35k. But to call someone who wants these premium top shelf things, and has the means to pay for them a "sucker" is just ignorant and closed minded. They are not a sucker, but you are certainly clueless. The market has spoken.

Stop assuming that everybody is maximizing YOUR utility function. That's not how a marketplace works.

[matt930s]

[nathanbs]

Originally Posted by sugarwood

Sold for $165k
https://bringatrailer.com/listing/1983-porsche-911sc-60/

For anyone with a clue, it was plain to see from day one that the market would value this car at $175k. Anyone who was surprised at the final bid is just ignorant and clueless. It's that simple.

There are a lot of people on this forum who are consistently befuddled about prices in the marketplace. Since they literally can't understand what is happening, they resort to calling everyone else in the marketplace a sucker. These people are likely very narrowminded, and can only see the world in a single rigid inflexible manner. My way or the highway.

What is their mistake? Why do they not understand the market reality? They are assuming that everybody is maximizing THEIR utility function. So, when things happen outside of these narrow parameters, their minds melt, and conclude that anyone not exactly like me is a "sucker"

Not everyone values cars exactly the way you do. You may think an unrestored 120k mile G50 for $35k is the ultimate buy. Other people value comprehensive nut and bolt restorations over an average car. They are well aware they are paying a lot more for a frame off restoration build. The market does not only have one segment, yours.

There is a ton of value in the $165k build. $10k gearbox rebuild? $40k engine rebuild? $30k paint job? $30k suspension job? $30k interior restoration? $20k cosmetic mods? $10k 930 brakes? The list goes on. Now add the premium of a finished turnkey product instead of a 2 year project. A nice value for the buyer, getting $220k worth of build for $175k. It's like the buyer got the car for free.

Not everyone values this, or is willing to pay for this. Like you, maybe they want an unrestored G50 for $35k. But to call someone who wants these premium top shelf things, and has the means to pay for them a "sucker" is just ignorant and closed minded. They are not a sucker, but you are certainly clueless. The market has spoken.

Stop assuming that everybody is maximizing YOUR utility function. That's not how a marketplace works.

Wow what did you do with Sugarwood? You’ve replaced him with someone logical. Merry Christmas Suga

[911heaven]

Sugarwood, I was wondering what happened to you garage? There's nothing in there. Did you sell your 911?

[Marine Blue]

I tend to agree with this Sugarwood. Often the naysayers are sitting on the sideline waiting for the “deal” and calling everyone crazy for spending so much but that’s just a self serving notion. Those people will get completely priced out of the market or they will eventually have to spend up to get into the market.

Bottom line is that they aren’t building them anymore and the really nice ones are getting harder and harder to find.

[NYNick]

There's a much bigger market out there than Pelican buyers. Much bigger, with deeper pockets.

[nathanbs]

Originally Posted by NYNick

There's a much bigger market out there than Pelican buyers. Much bigger, with deeper pockets.

Yep it’s pretty insane. At Singer’s 10th anniversary party I would say my eyes were opened. To give an idea of some of the 200 +/- folks in attendance were Richard Branson and Jeff Bezos. There was a $20 million Mclaren F1 parked in the dirt in the valet lot.

[sugarwood]

Originally Posted by 911heaven

Sugarwood, I was wondering what happened to you garage? There's nothing in there. Did you sell your 911?

No, in fact, I went for a nice drive yesterday

[911heaven]

Originally Posted by sugarwood

No, in fact, I went for a nice drive yesterday

Good for you and a wise decision. I'm planning to give the 69E some exercise this coming holiday. Relaxing R n R and good chance to keep the batteries up and perhaps get reacquainted with the Sporto project car.

[Sheck44]

Porsche newb here and 1st post ... BUT I have built numerous very high end custom cars and it doesnt matter what forum I am on there are those that have no concept of what it takes to rebuild something properly and for that matter to build something custom .... hours upon hours and lots of $$$

Well said Sugarwood

Cheers
Steve

[Glenfield]

As the saying goes, ‘you can’t make a seal purse out of a swine’s ear’. It is entirely possible for the sum of the parts to exceed the value of the whole

I think we all appreciate the tremendous skill and number of hours that go into high end restorations but there are some cars that don’t yet return on 250k restorations. As a general proposition, I think faithful restorations and slight modifications to 911SCs probably fall into that bucket today. As others have pointed out, that’s not necessarily the case for high end rally builds or resto mods.

[sugarwood]

Originally Posted by Sheck44

Porsche newb here and 1st post ... BUT I have built numerous very high end custom cars and it doesnt matter what forum I am on there are those that have no concept of what it takes to rebuild something properly and for that matter to build something custom .... hours upon hours and lots of $$$

Well said Sugarwood

Cheers
Steve

Thanks, Sheck. Nice to meet you, and welcome. I'd love to hear about your car background and prior custom projects. What bring you to this forum? In the market for an air cooled 911?

[GG Allin]

Originally Posted by sugarwood

Sold for $165k
https://bringatrailer.com/listing/1983-porsche-911sc-60/

For anyone with a clue, it was plain to see from day one that the market would value this car at $175k. Anyone who was surprised at the final bid is just ignorant and clueless. It's that simple.

There are a lot of people on this forum who are consistently befuddled about prices in the marketplace. Since they literally can't understand what is happening, they resort to calling everyone else in the marketplace a sucker. These people are likely very narrowminded, and can only see the world in a single rigid inflexible manner. My way or the highway.

What is their mistake? Why do they not understand the market reality? They are assuming that everybody is maximizing THEIR utility function. So, when things happen outside of these narrow parameters, their minds melt, and conclude that anyone not exactly like me is a "sucker"

Not everyone values cars exactly the way you do. You may think an unrestored 120k mile G50 for $35k is the ultimate buy. Other people value comprehensive nut and bolt restorations over an average car. They are well aware they are paying a lot more for a frame off restoration build. The market does not only have one segment, yours.

There is a ton of value in the $165k build. $10k gearbox rebuild? $40k engine rebuild? $30k paint job? $30k suspension job? $30k interior restoration? $20k cosmetic mods? $10k 930 brakes? The list goes on. Now add the premium of a finished turnkey product instead of a 2 year project. A nice value for the buyer, getting $220k worth of build for $175k. It's like the buyer got the car for free.

Not everyone values this, or is willing to pay for this. Like you, maybe they want an unrestored G50 for $35k. But to call someone who wants these premium top shelf things, and has the means to pay for them a "sucker" is just ignorant and closed minded. They are not a sucker, but you are certainly clueless. The market has spoken.

Stop assuming that everybody is maximizing YOUR utility function. That's not how a marketplace works.

But it's not even a G50.

[Sheck44]

Originally Posted by sugarwood

Thanks, Sheck. Nice to meet you, and welcome. I'd love to hear about your car background and prior custom projects. What bring you to this forum? In the market for an air cooled 911?

Thanks Sugarwood .... so yes I am in the market. I know its 'been there and done that' but I'd love to get into the Porsche scene and build or buy a nice backdate 73' RS. Simply just love the look.

here are 2 of my best thus far ...
Anyone watching BAT last month would have seen the 73' Landcruiser

[nathanbs]

Originally Posted by maninblack

Branson got hammered, BTW.

As in wasted?

[maninblack]

Originally Posted by nathanbs

As in wasted?

lol. And here I was deleting my comment in the spirit of kindness...

[nathanbs]

Originally Posted by Sheck44

Thanks Sugarwood .... so yes I am in the market. I know its 'been there and done that' but I'd love to get into the Porsche scene and build or buy a nice backdate 73' RS. Simply just love the look.

here are 2 of my best thus far ...
Anyone watching BAT last month would have seen the 73' Landcruiser

Nice! What’s on your want and wish list for the 73RS build? Budget?

[Sheck44]

Hi Nathan ...
Not sure, but I'd be looking at the $100 - $120k range

Cheers
Steve

[nathanbs]

Originally Posted by Sheck44

Hi Nathan ...
Not sure, but I'd be looking at the $100 - $120k range

Cheers
Steve

You can buy a nicely done or almost done one in that range if you are strategic and patient. There may be a couple on the market now in that range. I sold a really nice one for that range a year ago and I don’t feel the market has changed much on backdated RSs. https://bringatrailer.com/listing/1977-porsche-911-carrera-3-0/
I don’t think you can build one as nice as you can buy one for that budget however. I think you can expect a minimum of $30-50k more building one

[1979-930]

In the spirit of this thread. I was reading Hagertys Magazine last night and there is an article about the 2019 Riddler Award Winning car.
Owner specifically commissioned the car to win the award. Spent $2M and this year auctioned it off for $302K.
How about a $1.7M loss for bragging rights. Deep pockets out there.