Auction prices on 996?

[Elombard]

I was curious what a used car dealer is buying 99 or 00 C2 6 speeds for at auction?

OK condition 60-80K miles?

KBB shows this car in Fair condition in the high 19s. Is that what they go for at auction?

There is a dealer in FL that has 15 or so 99 C2s for the mid to high 20s and I was curious what he was buying them for?

I was thinking there was a few folks here who had access to the auction info.

[Elombard]

OOps wrong forum I was aiming for the market place forum.

Erik,
I spoke with a dealer about this a few days ago. He dad seen early 996's run through the auction in the low 20's in Ft Worth. When I sell Ginger, I'm going to pay him to get me in and handle the transaction.

[Elombard]

Thats exactly what I was thnking. $500 for a zero hassle, zero liability deal for a small dealer.

Yup - that's my thought as well.

[jjflash]

1999 996 C2 Coupes -- WE July 30 06

Above average: $28,902 - 46185 miles
Average: $25,435 - 65422 miles
Below average: $21,968 - 84659 miles

Total cars sold: 9
===============================
2000 996 C2 Coupes -- WE July 30 06

Above average: $38,483 - 23647 miles
Average: $33,025 - 43390 miles
Below average: $27,567 - 63133 miles

Total cars sold: 6

These are actual sales from auctions all over the country run by Manheim. These are all averages, of course, and you don't know what a particular car is like unless you're there and inspect it. I've been to a few of these auctions and it will surprise you how much these cars actually go for. The "highline" auctions in SoCal where they sell off late-model lease returns that official Porsche dealers don't want, draw dealers from all over the country and the competition gets pretty fierce. Hope this helps.

[Elombard]

Thanks Stephen

I appreciate the info.

How do the buyers deal with the RMS risk and other problems? Seems likle it would be real easy to pay too much for a car that needed a motor. I always heard there was minimum inspection allowed. IS there some kind of guarantees ar insurance?

I have to find a wy to go to the high line here in GA I wonder if the economics are different. I bet you could buy 50-70K mile 99s for $20K pretty regulalry.

[jjflash]

Originally posted by Elombard

How do the buyers deal with the RMS risk and other problems? Seems likle it would be real easy to pay too much for a car that needed a motor. I always heard there was minimum inspection allowed. IS there some kind of guarantees ar insurance?

It's a BIG risk. Inspections are allowed before the auctions, but you have to have a dealer's card to get into them. There are keys available to start up cars, but getting them is sometimes a hassle. Then you really can't do much with them--no driving around is allowed. It's really a game for experts and dealers who factor in the occasional loser as a business cost. *Most* cars are guaranteed for a 24-hour period after the auction, but it is a very minimal guarantee against major defects in the driveline and it's at the discretion of the auction's mechanical department.

Originally posted by Elombard
I have to find a way to go to the high line here in GA I wonder if the economics are different. I bet you could buy 50-70K mile 99s for $20K pretty regulalry.

The figures I posted were from auctions run across the country. I don't know that there would be any significant difference in Georgia. That said, these are all averages and you just never know what will come across the block and who will be bidding for it. Most of these cars also do have a reserve price so there isn't much "stealing" going on. There are also other auction companies, but Manheim is certainly one of, if not THE biggest one.

The best way to save at auctions and have some degree of safety is to go when they auction off late-model lease returns that still have factory warranties. You can get the VIN's of cars you might be interested in and call PCNA and find out what is left on the warranty. Then take it to the local dealer and have them fix it! But this limits you to cars that fall within the standard 4-year, 50K-mile warranty.

I think that in general one is much better off just searching for the right car and buying from a private party.

I actually bought a '95 968 convertible at an auction when I saw it coming through the block and lost my wits--didn't really have time to inspect it. It was a POS with a totally destroyed convertible top mechanism. I was damn lucky that I detected a slight whine in the pinion bearing and returned it on those grounds, and that the auction mechanics agreed with me. OTOH, I bought my 2002 Boxster S pretty well, and it was still under warranty so I got all the little things fixed up at the dealer.

One more point: if you hang out at the auctions a lot, there are occasionally single cars that get consigned there by smaller dealerships. These tend to be older than the lease-returns and occasionally you can get a better deal. I recall an '83 SC with about 70K miles that looked to be in outstanding shape. I followed it through the block and it sold for ~$13K. Not a "smokin'" deal, but probably a good buy.

HTH.

[Elombard]

Thanks Stephen I will probably take your advice and go Private party. I can see how they would factor in the cost of doing business on the ocassional bad one, also the ability to return it to the auction for dealers is a big thing that I obviously would not have doing it on the sly.

[jjflash]

Erik,

I don't know of how you could do it "on the sly" anyway. You'd have to have a good relationship with an actual dealer as everything would have to be done through him. The dealer you are working with would have the 24-hour return option.

You obviously would have to pay the dealer/broker something for this, so all-in-all private parties are the way to go.

I forgot to mention that occasionally there will be cars with a "1-week" guarantee/grace period, but it's unusual and usually on cars that obviously don't need it!

Stephen,
The dealer I talked to mentioned the cars having a 2 week return option and the cars having gone through an inspection. Do you know if they are inspected by the auction house or might he have been talking about lease return cars going through a dealer inspection? Thanks for your insight in this.
Mark

[jjflash]

Hi Mark,

My only experience is with the Manheim dealer auctions. They are HUGE, but there are certainly lots of others and their policies may be entirely different. Manheim has on-site mechanical and inspection facilities, but I'm not sure about how detailed an inspection the cars go through and whether every car is inspected.

A 2-week return option would be great, but not at Manheim--for sure!