Dealer auction prices?

[epbrown]

Does anyone know what 996s are going for at dealer auctions. I'm considering getting a 2002+ 996 cab, and I'm wondering what dealers are paying for them. I'm seeing cars with asking prices below Edmunds, NADA, and KBB trade-in prices, which indicates they're going pretty cheap.

[trader220]

I dont know but I am thinking of going one of these next few Thursdays for the big high line one. If I get there I will report in. They're dropping like a stone on the retail side.

[jjflash]

Originally Posted by epbrown

Does anyone know what 996s are going for at dealer auctions. I'm considering getting a 2002+ 996 cab, and I'm wondering what dealers are paying for them. I'm seeing cars with asking prices below Edmunds, NADA, and KBB trade-in prices, which indicates they're going pretty cheap.

If you can, get one with some remaining factory warranty available (usually 4-years, 50K-miles).... Otherwise dealer auctions can be a real crapshoot because you don't much chance to really inspect the cars.

[the]

Here's some recent wholesale auction numbers. First 2 are coupes, last is cab. Year and mileage indicated.

PORSCHE 911 CPE CARRERA 2 2003 58292 $39500
PORSCHE 911 CPE CARRERA 4S 2003 58122 $41500
PORSCHE 911 CAB CARRERA 4 2001 74658 $27500

[the]

Couple more. These are all from the last month, from CA and FL.

PORSCHE 911 CAB CARRERA 2 2000 41649 $26800
PORSCHE 911 CAB CARRERA 2 2001 47225 $30200

[the]

With eBay, "retail" prices seem to be being driven down, while, oddly, prices at auction seem to be holding. As a result, with careful shopping, if you are only looking to buy one car, it isn't hard to beat wholesale auction prices, by buying off eBay or your local ads.

[silverc4s]

Just keep in mind:

Every car on sale at a dealer auction is there for a reason. It had at least two, sometimes three chances to NOT be at the auction.

It can be painful to discover the reason(s) after purchase. Very few takebacks at these events.

Caveat Emptor really applies. From my few years in the trade.

[epbrown]

Just to clear things up: I'm not planning to buy a car at a dealer auction, I was just asking what they're going for. I was offered a 2002 996 cab for $33k recently, which had me wondering what they could have paid for the car themselves.

[trader220]

Lots of cars there are off lease from those dealers finance companies. You also get then when dealers want to swap inventory. If the Mercedes Dealer took 2 or 3 Porsches in trade this month and he does not want them all on his lot then he takes them to auction. Most of the newer cars are off lease though.

Ive seen BMW and Land Rover and all the others ship dozens and dozens of cars to Manheim which are just off lease stuff.

[trader220]

Originally Posted by epbrown

Just to clear things up: I'm not planning to buy a car at a dealer auction, I was just asking what they're going for. I was offered a 2002 996 cab for $33k recently, which had me wondering what they could have paid for the car themselves.

What are the miles color and options?

[onboost]

Originally Posted by trader220

Lots of cars there are off lease from those dealers finance companies. You also get then when dealers want to swap inventory. If the Mercedes Dealer took 2 or 3 Porsches in trade this month and he does not want them all on his lot then he takes them to auction. Most of the newer cars are off lease though.

Ive seen BMW and Land Rover and all the others ship dozens and dozens of cars to Manheim which are just off lease stuff.

Trader, comment is spot on!

Nine times out of ten if you buy a used car off the dealers lot (authorized dealer) it came through one of the highline auctions.... oh sure, they'll tell you "it was just traded in by one of our best customers who changes cars every 3-5 years"... but its just another lease-back as stated above.

On the other hand, there is nothing wrong with that as some of these cars are very nice..they get serviced, prepped and cleaned and away they go! Where did you think "Certified Pre-Owned" came from!?

P-

[epbrown]

Originally Posted by trader220

What are the miles color and options?

Seal gray over black cabrio, 52k miles, tip, Technic package.

[the]

Yeah, nothing wrong with most of the cars that go through the highline auctions and end up at dealerships.

Those cars have been Carfaxed, usually been inspected at the auction site, and were almost always subject to a "buyback" policy. I.e., the dealership who bought the car had 7 or 14 days to return it if they discovered problems.

[tellyc]

Originally Posted by epbrown

Just to clear things up: I'm not planning to buy a car at a dealer auction, I was just asking what they're going for. I was offered a 2002 996 cab for $33k recently, which had me wondering what they could have paid for the car themselves.

epbrown,

Here are some 2002 996 transaction prices from recent sales. This is from www.pricehub.com.

2002 $38,900 44,000 CABRIOLET AERO KIT CHAMPIONS 10/18/2007 Miami, Florida Excellent Private party

2002 $41,000 34,000 911 Convertible, Tiptronic 07/15/2007 New York, NY Excellent Private Party

2002 $42,200 22,000 4S Coupe 10/24/2007 Boston, Massachusetts Excellent Private party

There are also other data points for other years of 996's.
http://www.pricehub.com/price/Porsche/911

Based on these prices, I'd say the '02 Cab that you're looking at with 52k miles for $33k is a pretty good deal. The 996 prices seems to be noticeably lower for the '99 and '00 model years.

[epbrown]

Originally Posted by tellyc

Based on these prices, I'd say the '02 Cab that you're looking at with 52k miles for $33k is a pretty good deal. The 996 prices seems to be noticeably lower for the '99 and '00 model years.

Yeah, the early years are unpopular due to some issues - most buyer's guides recommend avoiding them. I prefer the facelift cars for the bump in power from the 3.6 and the cosmetic changes.