Why hasn't this 993 moved?

aigel · aigel's Garage

http://sfbay.craigslist.org/nby/car/189955064.html

This has been posted for a long time and keeps going down in price. I had eyed it briefly when I was looking, but never contacted the seller or looked at the car. Anyone have any input? Are 60k 993s only worth 26k nowadays?

George

lark · 08-09-2006, 01:57 PM

Try 102K miles. Plus, red cars don't seem to sell nearly as well.

aigel · aigel's Garage

Geez, I misread the ad. He says it runs like a car with 60k.

Is guards red really a hard to sell color on a newer 911? It certainly is very popular on the SC / Carrera vintage cars. I guess if you have the choice between sepia brown, gold, cashmere beige and guards red, it is a no brainer.

George

racer · 08-09-2006, 05:00 PM

Strange how a 10yr old 100,00 mile car can't sell, yet an abused 150Kmile 1985 3.2l can still pull in a high teen $$ if it still looks new.

Maybe that's the reason.. no one wants 10 year old cars.. not new enough and not old enough to seem "classic".

aigel · aigel's Garage

Nah, the 993 is a classic already, regardless of only being 10 years old. Generally they are hard to find in the mid 20s, regardless of miles. I suspect that something is fishy with this particular example and was curious if someone had actual info.

George

GothingNC · 08-10-2006, 03:14 AM

The Ad was deleted?
Did anyone call and ask about the car?

Might have been located in Greece

aigel · aigel's Garage

Not to worry, it's still there:

http://sfbay.craigslist.org/nby/car/192306385.html

26k even now. Soon this will be cheap enough for the 3.6 converstion folks to buy for parts.

George

racer · 08-11-2006, 07:14 AM

Quote:

Originally posted by aigel
Nah, the 993 is a classic already, regardless of only being 10 years old. Generally they are hard to find in the mid 20s, regardless of miles. I suspect that something is fishy with this particular example and was curious if someone had actual info.

George

While I can't vouch for any "fishyness"...

The car is $26,000. For many, that's not exactly spare change. So to me it implies a loan to purchase. Folks are a bit quesy about spending that kind of money right now, for a car, when gas is $3+/gal. Plus, many folks don't want to work on their own car and well, PCar maintenance isn't cheap. No warranty. Pure OOP expense.

I think you find all 10 year old cars get neglected in the market. Happened to 964s, but they are regaining popularity. Happened with SCs, Longhoods and Carerras to. In another 3-4 years, 996's will be looked at the same way. Get to 20 years old and "classic" and "car I dreamed of in highschool" come about and sales happen quicker (or are at least more emotional).

Spede · 08-11-2006, 10:56 AM

Quote:

Originally posted by racer
Folks are a bit quesy about spending that kind of money right now, for a car, when gas is $3+/gal.

I completely agree... the auto classifieds (non-Porsche) are full of high-end cars selling for much less that I would imagine.

aigel · aigel's Garage

I don't think it is the fuel prices at the pump that turn folks off. The stagnant housing prices are what does it in our area.

You won't believe the amounts of people that purchase(d) toy type cars on home equity line of credits. We even had a loan fella advertise in the local PCA with an ad: "Get the race engine that you deserve", trying to refinance your home with cash take out.

I also see high line cars pile in the local car toy stores, sitting for months. I think you are looking at early signs of recession ...

But back to that 993, something is up, it's worth 26k even in this market.

George

racer · 08-11-2006, 04:38 PM

George, I think it's time you look into this 993. If it's as nice as it could be, you could always "flip" it

Also agree on the Housing market effect. A LOT of "toys" were bought with equity lines, rather than savings. In the DC area the housing markets were growing at double digits for many years. That's a lot of "equity" out there. Now its come back to more appropriate values.