New Buyer Advice

[ej_glutton]

I purchased my first Porsche (1987 911 Targa) about 4 weeks ago & have somehow became the de facto Porsche expert in several of my friend's/neighbor's minds. One friend, empowered by the knowledge that a dork like me can own a Porsche, has enlisted my help in finding one. I've encouraged him to check the "Porsche Cars for Sale" portion of this site twice a day, as well as review the "Porsche Marketplace Discussion" & "Porsche 911 Technical Forum" to learn about all things Porsche. A couple of questions though to you real experts...

Are the Excellence magazine price guides the best resource to determine an appropriate price? When I bought my car (I'm in Austin, Texas & bought from a guy about 2 miles from my office), I told a knowledgable Porsche-guy that I thought I was getting a "killer" deal based on the Excellence magazine prices from last August. He stated that I was getting just an "OK" deal, that these prices don't really apply in Texas, and that high-ish California prices skew them at a national level (no offense). I guess this makes sense from a cost of living standpoint, but never really thought of it that way. Do people in the "Porsche-world" generally agree that Excellence magazine is an accepted guide? Are there any "regional" factors that are typically applied to dial-in the price? I would think this would be a reliable source & that it is appropriate given that people on this site search for (& often purchase) their cars nationally.

Also, is it my imagination or has the volume of 911s for sale dropped a bunch over the past month? I looked religiously 2x per day over the 8 month period prior to buying my car...seems like the volume has gone way down. Is this a recurring seasonal thing and a bunch will go up for sale after the summer? Want to be able to tell my friend when to expect more inventory.

Thanks for your time,

[trader220]

You’ll get a ton of opinions on this one. Personally I don’t find the prices in Excellence all that helpful. But, I do check eBay and Pelican and about ½ a dozen other sites pretty regularly to keep on top of the market in 911’s. I have bought and owned and sold quite a few over the last 15 years ago or so.

A lot of the regional skew has been muted over the last 10 years by the internet. Although it still exists the ease in which you can buy a car across the country when you do your homework correctly has helped flatten prices out across the country. The other skew of course is the seasonal skew, especially for cabs and targas.

What exactly is your buddy looking for and whats his price range?

[ej_glutton]

He's not sure what he's looking for, other than a "decent" 911 that will not need extensive interior or exterior work (weren't / aren't we all). I'm trying not to steer him, but I have told him that I ended up looking at SC's and 3.2's during my quest. The difference between us is that he is CURRENTLY a "DINK" (Double Income, No Kids...yet), whereas I am budget-constrained (read wife + 3 kids); so his currently undefined price range will likely be higher than mine. Ergo, he might eventually be willing to get into a 1990's (or 2000's) era version. He's not in a rush & is a smart guy who knows the value of doing his homework in order to make an educated & cost-effective decision. While I think it would be fun to spend someone else's money on a Porsche, I'll probably only need to provide factual info & attempt to answer questions when pressed.

You mentioned a half dozen sights you check regularly. I referred my buddy to Pelican, Rennlist, Craigslist, theSamba.com & Porschatrder.com. I didn't recommend Evil-Bay even though I used to check it out once in a while. I've never had the guts to bid on a car (only fishing equipment & CDs). Are there other worthwhile sites you might recommend?