Different sort of value advice

[smshirk]

I recently found a car I once owned and put a lot of time and money into. See this thread http://forums.pelicanparts.com/911-930-turbo-super-charging-forum/583103-looking-car.html

The current owner, knowing that I have been looking for the car is now asking me 25k for the car. I was the third owner and would be fifth, assuming I do buy the car back. AS info, the car is a low mileage SC, 80k, well optioned from the factory with sport seats, auto heat, large gas tank, full leather. I did much of the upgrade work in the 1990s, doing a steel slant nose conversion including rockers and rear quarters. I added Turbo brakes, tie rods, bilsteins, and the Speedlines, along with high quality repaint in original light blue metallic.

The engine was rebuilt with Mahle P&C with low compression while planning to do after market Turbo. I ended up with a Paxton centrifugal supercharger, MSD, twin plug heads, EFI, aggressive cams, ported heads, all in all about 15k in 1995 money spent on the engine. It dynoed, 12 years ago ~350 RWHP, and above 250 with the SC belt off. In addition the interior has numerous finishing touches, including Bird console in matching blue leather, high end stereo with trunk mounted amp and underdash cover with speakers, central locking and after market alarm wired to factory immobilizer.

I know the car is not worth 25k, but what would it be worth to someone other than me, who has an admitted emotional attachment to the car?

[wgwollet]

Man. Highly modified cars are too much what the owners want and the parts are very costly. Worst then a home remodel, I never thought of these highly mod Porsche's, but that's me,

I think they are a very very hard sell now or anytime, tell the current owner to drop dead.....that car is lucky to be worth $17,000.

Buy a 3.2 it's a better deal

[dienstuhr]

Wow... a slant nose car has a limited appeal, and a slant nose Targa even more limited... who knows what it's worth to the right person. The point is that I think it has very limited appeal and unless you find the person to whom it sings, it's going to be worth no more than a stock example, and maybe less.

Regards

d.

[whiterabbit]

I think the car is worth the price if everything is done well (which you know it is) and its what you want.

I would think he could get 20k for this on the open market pretty quickly assuming the condition is excellent.

As you say it would cost what 25k at least on top of the cost of a 78 targa to build another............

[smshirk]

Originally Posted by whiterabbit

I think the car is worth the price if everything is done well (which you know it is) and its what you want.

I would think he could get 20k for this on the open market pretty quickly assuming the condition is excellent.

As you say it would cost what 25k at least on top of the cost of a 78 targa to build another............

That is what I keep telling myself. I spent the money once, and if I want a similar car it would cost me more than 25 just to get that much HP to the ground with an SC, not to mention the slant nose, admittedly a personal preference. But there are quite a few 930s on the market in the 25 to 30k range.

[Wayne 962]

I would try to put the emotional attachment aside. The values here are pretty spot-on I think, because it's a one-off specialty car that has to find the right buyer. It doesn't sound like the owner really wants to sell it - just tell him to advertise it, and you'll beat the highest offer he gets (assuming it's less than $25K, which it most likely will be).

-Wayne

[whiterabbit]

Its hard to keep the emotional stuff at bay IMHO. For example I would happily pay over market for a specific color if Carrera if available. If amshik is smitten with an SC slant nose in light blue and he knows its done right then an extra 5k will mean nothing a year from now. A 25K 930 could easily put him in the hole for 15k in repairs even after a good ppi.

What you say makes sense Wayne but is it worth a few thousand if the OP looses the car and ends up with something he doesn't want. Possibly a local could drop 25k on the car just "cos it looks nice and summer is coming".

Maybe also the current owner paid a similar amount for it.

[smshirk]

He did pay 25k for it I am fairly sure. I sold it for a bit more than 20k in 2000. The current owner purchased it from the same guy a couple of years later for 25, or so he told me. I know that allowing emotion to enter into a car deal is just plain nuts, and yet I have made many emotional purchases over the years. This particular car holds special meaning for a variety of reasons and I have planned on buying it back for years. I always planned to just pay the asking price when I did find it, but I didn't anticipate the seller not caring whether he sold it or not. If the situation were reversed I wouldn't come off my price.

I would have bought it already but the wife is dead set against another Porsche cluttering up the driveway. I have 8 cars and a motorcycle already and I will have to sell at least two cars to maker her happy. When I consider that I will be lucky to clear 25 by selling my Weissach and 968, it brings the whole deal into focus. But, I spent the money to get a Jake Raby motor in my Boxster. I don't regret that and there is no way I will ever sell the Boxster for anywhere near what I have in the engine. One over priced hot rod is one thing, two may be indicative of a sickness!

[twin plugged targa]

I am so glad I just read your last reply to this thread as I have only 4 cars (2 Porsches) and am feeling gulity/ feeling the wifes annoyance in those occaisional comments (re house repayments etc etc)

As for your old car, you obviously put a lot of time and effort, not to mention $$ into the car, which looks great - even though I am not a targa shape fan (despite my screen name!)
I think it is worth more to you as you built it and it was customized by you, for you and so is in your taste!
It is not everyones taste!
I would say $20K tops as it will always be compared to a Turbo, and Turbo prices are very low at the moment esp in the USA.
I hope you do buy her back as I am sure you will enjoy and appreciate her more than others
Once again she looks excellent!!

On a side note (probabley a million stories like this) my old twin plugged targa was bought from the PO who put $50K into it and sold it to me for $16K.
The car was VERY personalised and customized and so the value was realistically $16-25K, I sold it 5yrs later for approx $25K

I loved the car but it was really the owners taste and not mine. I could have sunk more $$ into it to make it 'my' taste but figure to leave it and just let the right owner find it!

I hope you do get to buy her and enjoy her
Ben

[vesnyder]

The car looks real nice and to be sure, if you were to do this kind of mods again you are looking at north of $25k. My biggest fear of a car with this level of modification is the work quality and did the person cut corners? If this is what you are looking for and you know the work was done right $25k is not outrageous. This is probbaly the worst market I have even seen sinbce I bought my first Porsche oin 1984 but I would say this is worth $25k to the right person - you just may never find the right person?

Good luck - rationalizing those emotional purchases will drive you nuts! Go for it and don't look back!

[techweenie]

None of us can tell you what the car is worth. And $25K is not a ton of money, after all.

But we do tend to romanticize our old cars. Give some thought to why you sold it. Try and remember what it was like to actually live with it. It's possible the car will need a lot of work unless the two owners since you kept up the maintenance.

If you get it back and have buyer's regret 3 days later, you will have a hard time recovering more than $15K from that car. Good luck.

[j930]

based on what I saw at the Barrett Jackson car auction out here in Scottsdale Az that is at least a 30-35K car.

[GregoryF]

Barrett Jackson is not real life. Don't use the auction results as a gauge to rationalize a purchase. You can keep those prices in the back of your head, but the hype in the auction tent has a magical effect on prices and they just keep rising. How many times have you seen a car sell at BJ and end up on Ebay for less than half of the gavel price. It happens all the time, buyer's remorse sets in and on the bay it goes.

There are some deals to be had but they are few and far between.

You have an emotional attachment to this car for a number of reasons, so any rational response from the peanut gallery probably won't influence you much. We've all been there! I agree with Wayne's comments. If it's meant to be it will be. If not, there'll be another.

[vracer]

Originally Posted by Wayne at Pelican Parts

I would try to put the emotional attachment aside.
-Wayne

What else is there of value in an old(er) car than emotion?!

Sell two (or three) should make your wife and neighbors happy.

[smshirk]

No neighbor's can see my house thankfully for them and moreso me!

[WPOZZZ]

Keep peace in the household.