Current Market on Pre 89 911

[urseppos]

It seems to me that the market for air cooled 911's was very hot until just recently.
Maybe I'm wrong but it seems to fluctuate w/the euro currency and the euro has dropped by about 5 points in the last wk.

Is this because the US market is primarily driven by the Euro's purchasing power as the Germans and others seem to be buying boat loads from the US ?

Just trying to get a better understanding of the US market at present as I want to purchase another car but I always seem to buy when the market is hot and after I buy the market seems to cool off lol

Thanx in advance !

[Menmojo]

I hope that is not the case.

I'm a portfolio manager for a major wall street firm and we think it's likely the Euro will trade at parity with the US Dollar sooner tham later.........

I think the demand is more driven by people who grew up in that era.
They now can afford to buy an older 911 and live the dream!

[PropellerHead]

Unfortunately some view the used car market as investment potential. That is actually what kills the value. Look what happened to the muscle car 'bubble'. Cars were desireable for a generation who grew up with them and supply was declining while demand was increasing. Then, people started paying stupid money for high production number cars and restoring cars from the scrap yards for a profit. As a result - the market was diluted with 'nice' cars and only the rare and pristine cars command a significant premium over run-of-the-mill examples.

The best way to buy a car is to find one you love and search out a nice example to enjoy and drive. Maintain it and it will maintain value and perhaps appreciate if the average cars continue to decline in condition.

Buying a car with an expectation of appreciation due to a 'general market' is counter to their purpose in life. Buy them to drive (what they were made for) and get your value out of the car with the enjoyment of USING it. If it somehow improves in value while you are using it - that is a real dividend!

[Macroni]

The current discounted Euro as well as the cost of restoration in combination have fueled the increased values of pre 89s. It does seem lately the impact bumper cars have started to strengthen with the middies still the red headed step child.

As long as they are such a hoot to drive I do think the market will stay strong. These cars are usable.

[KNS]

I hope that what happened with the muscle car market does not happen to the pre 89 911s. I don't want these cars to sky-rocket in value, when that happens they disappear from the roads and end up hiding in garages.

[whiterabbit]

I think prices now are strong and will go higher.

Its not just the Euro, more collectors stateside are also buying and hiding them away.

[911dean]

Originally Posted by whiterabbit

I think prices now are strong and will go higher.

Its not just the Euro, more collectors stateside are also buying and hiding them away.

I agree.

[wgwollet]

Combination of things effect the market. Porsche has a great name in cars. Most people want one but know its a expensive name.

Age of buyers figure in, now long hoods are getting very valuable, condition is everything. The 912's are hot, not many good one left. The pre 1989 are good values still. The SC are a very good value. All these cars are going up, but the key is to buy and enjoy. It's better then buying new and losing thousands, do not worry about making money all the time. Buy what you like, prices and selection are still good. But I do not think these cars will lose much, just not many good one around anymore. They are now 25 + years old...and it beats a 401k and many know this.....

[GothingNC]

I have noticed the asking prices of the impact-bumper 911's has steadly been creeping up a lot

Looking on auto-trader classic out of 102 listins, only 7 were listed for under $17K

Regular Auto trader only 17 for under $17K out of 250 listings.

[copbait73]

Originally Posted by PropellerHead

Buying a car with an expectation of appreciation due to a 'general market' is counter to their purpose in life. Buy them to drive (what they were made for) and get your value out of the car with the enjoyment of USING it. If it somehow improves in value while you are using it - that is a real dividend!

Right on-

My '73.5T has a little over 65K miles and is 40 years old. I'm 61. Neither one of us knows how many more miles we have left so I drive her every chance I get.

Every drive for me is just like the first. Can't say that about any of numerous other non Porsche cars I've driven.

[Matt Monson]

There's an article on the 3.2l Carreras in the most recent Excellence. It's the new segment that is replacing Anderson's old market reports. They are placing 100k+ mi 3.2's in fair condition as $12-15k cars and nice sub 100k cars as twice that, with pristine ones triple that base price.

I'm sitting on a 3.2l Carrera waiting for it to get ripe enough to hatch. Oh, and by sitting on it, I mean it's my Summer daily driver and will probably see 2-3 days of track time this year. I don't hatch anything under a tarp.

[PropellerHead]

Originally Posted by Matt Monson

I'm sitting on a 3.2l Carrera waiting for it to get ripe enough to hatch. Oh, and by sitting on it, I mean it's my Summer daily driver and will probably see 2-3 days of track time this year. I don't hatch anything under a tarp.

Right on!

My '71 911T (~58k miles and quite original except a few bolt-on updates/upgrades) will be on the track next weekend! It is by far the most fun car I've had on the track despite being at least 50 Hp short of the next lowest powered car I've driven (and that was a BMW Sportwagon....don't laugh, I was between 'toys' and had to get my fix!) on the track.

Drive them, maintain them and enjoy them. Odds are high that you'll increase their value a heck of a lot more than if they sit and don't collect any miles!

[MrBonus]

I find it ironic that when I owned my 993 (a few years ago), I felt like I came across '84 - '89 Coupes at reasonable prices in spades. Now that I'm actually shopping for one, I can't seem to find anything except heavily modified cars or dealers asking obscene prices.

[KNS]

I talked to a saleman at the Porsche dealer today about the air cooled market. He said he knows a guy in the local area who has made a small fortune selling just air cooled Porsches to Germany and other parts of Europe. I think that is one of the reasons all the nice SCs and Carreras have dried up over here.

[szyzygy]

Originally Posted by PropellerHead

Unfortunately some view the used car market as investment potential. That is actually what kills the value. Look what happened to the muscle car 'bubble'. Cars were desireable for a generation who grew up with them and supply was declining while demand was increasing. Then, people started paying stupid money for high production number cars and restoring cars from the scrap yards for a profit. As a result - the market was diluted with 'nice' cars and only the rare and pristine cars command a significant premium over run-of-the-mill examples.

The best way to buy a car is to find one you love and search out a nice example to enjoy and drive. Maintain it and it will maintain value and perhaps appreciate if the average cars continue to decline in condition.

Buying a car with an expectation of appreciation due to a 'general market' is counter to their purpose in life. Buy them to drive (what they were made for) and get your value out of the car with the enjoyment of USING it. If it somehow improves in value while you are using it - that is a real dividend!

+1

I drive my car everyday, even though I have a spare care that goes unused that I could drive instead. But then I'd always feel like "Man, I wish I that was driving my 911 instead!"

[McLovin]

Originally Posted by GothingNC

I have noticed the asking prices of the impact-bumper 911's has steadly been creeping up a lot

.

I agree. Even looking at ebay, the bids and sold prices for 84-89 Carerras seem markedly higher than a year ago.

Lots in the $20K+ range, for average-ish looking cars with some miles on them.

I think there's no doubt prices are on the rise. I also think once they start up, there's going to be no looking back.

[McLovin]

If I had the room, I'd buy one or two more G50 cars, while some deals can still be found.

[uncle_scott]

It is interesting to read this thread, because as someone selling an 84 car with some modifications, and relatively high miles, I have not been able to get any traction at all with buyers. People either want to offer ridiculous lowball offers, or they tell me that the mileage is too large of a risk. I guess the right buyer will come along sometime...I mean, I can't be the only one crazy enough to have purchased this car can I?? haha.

I would hope that the market for impact bumper cars stays strong, mostly because I am selling. Once I sell, I wouldn't mind the market going soft for a few years, so I can return to Porsche ownership without giving up my first born. Maybe I just need to figure out how to keep the car I have? Who knows. You can never predict car prices. The prices seem to ebb and flow like no other commodity out there...

[SilberUrS6]

Originally Posted by uncle_scott

It is interesting to read this thread, because as someone selling an 84 car with some modifications, and relatively high miles, I have not been able to get any traction at all with buyers. People either want to offer ridiculous lowball offers, or they tell me that the mileage is too large of a risk. I guess the right buyer will come along sometime...I mean, I can't be the only one crazy enough to have purchased this car can I?? haha.

I would hope that the market for impact bumper cars stays strong, mostly because I am selling. Once I sell, I wouldn't mind the market going soft for a few years, so I can return to Porsche ownership without giving up my first born. Maybe I just need to figure out how to keep the car I have? Who knows. You can never predict car prices. The prices seem to ebb and flow like no other commodity out there...

I like the car, but hate the mesh BBS wheels. It looked nice with Fuchs, and the Fuchs you had on there went well with the car and taking them off hurt the overall value of the car. High miles, not original, daily-driver condition? I'd offer it up at $10.5k and see where it goes. Personally, I might buy it at that price, if I didn't already have a pretty good driver.

[McLovin]

The cars leading the charge upward are the G50 cars, all (or mostly) stock and original, with 100K or less miles on them.

Given the costs of rebuild and restoration back to original condition, 200K+ mile cars don't really get much of a bump right now.

Because, if an excellent condition, 90K mile original '88 was $19K a year ago, and is $23K today, that doesn't really help the high mile, modified '84 move off the $12K mark. To bring that car back to original, good (low mile) condition would cost $15-20K.

It would take a much bigger move in the upper end to finally drag the lower end cars up. If an excellent '88 were worth $50K, then a decent high mile '84 would get more than $12K. Because the restoration costs would then be justifiable.