Please help with an opportunity

[911chas]

My neighbour has a 1988 Porsche 930 Turbo convetible
Her husband just passed away recently and she wanted to know if I was interested in the car...

I had it taken over to my friend who owns the local foreign car repair shop (Ive known him for 20+ yrs)

The car has 88k miles
Compression is good
Needs new turbo
Has new convertible top
BBS wheels (need refinished)
Interior is very good
Car is silver with black interior and black top
Could use a repaint/touch up

I was wondering what your thoughts are on current value as well as potential value after I make things right on the car

Thanks for your input
chas

[cellison]

if you do everything on the list and find more stuff that needs to be done that you don't know about yet, i would say around $40k.

[dienstuhr]

Originally Posted by 911chas

Needs new turbo
BBS wheels (need refinished)
Could use a repaint/touch up

Current value = ~$25K
Value when finished = ~$35K

$$$ needed to get from $25K-$35K = ~$20K

Cheers

d.

[911chas]

Thats what I was afraid of.......

I need to buy the car for 15k ish

[matt f]

Be careful with a re-paint. A future potential owner may get skeptical.

[Matt Monson]

Originally Posted by 911chas

My neighbour has a 1988 Porsche 930 Turbo convetible

Freudian slip? I would covet an '88 930 Cabriolet. That was the first Porsche I ever got to drive when I was 18 years old. Spoiled from day 1.

[mreid]

I'd say $25k with the issues, but expect the rear wheel bearings to have scored the races from sitting and require replacement. $3000 to $3500 unless you do them yourself, then less than $300.

[techweenie]

I think you guys are being a bit harsh on pricing here. $30K as it sits is my guess. Other than the paint, the work is not terribly daunting. These are very rare cars and have a core following.

[johnghini]

The car is worth every bit of $25k to $30k. You'll pay what she agrees to I suppose so you may hit a home run if she agrees to $20k (or $15k as you suggest)...but know that she is absolutely gifting it to you. Like anyone looking to purchase, we all want that deal; but if you like these 930s don't be intimidated by forking over the $25k+ as they aren't exactly sinking in value. The benefit of this car is you know the previous owner and likely his repair / maintenance / care habits.

The most daunting "repair" you list is the potential repaint but I suspect it doesn't really need a true repaint. It's amazing what can be achieve by an accomplished detailer. These 80's era Porsches have a lot of high quality paint and being an '88, it's two stage w/ the clear-coat to work with. A great color sand and detail will set you back $500 which I am thinking will eliminate your repaint concerns.

The turbo is no big deal. Buy a nice intercooler and exhaust while you're at it and have fun in a car that can't be replicated for twice the amount you'll have in total investment.

[CountD]

Originally Posted by johnghini

The most daunting "repair" you list is the potential repaint but I suspect it doesn't really need a true repaint. It's amazing what can be achieve by an accomplished detailer. These 80's era Porsches have a lot of high quality paint and being an '88, it's two stage w/ the clear-coat to work with. A great color sand and detail will set you back $500 which I am thinking will eliminate your repaint concerns.

This is great advice, as I have seen miracles done to finishes as well. Better to start here. Please let us know with an update because I am sure you are working on a price and getting the dough together, this is the exciting/nerve wracking part...I would go all in on it though, as I never see them for sale.

[911chas]

Originally Posted by johnghini

The car is worth every bit of $25k to $30k. You'll pay what she agrees to I suppose so you may hit a home run if she agrees to $20k (or $15k as you suggest)...but know that she is absolutely gifting it to you. Like anyone looking to purchase, we all want that deal; but if you like these 930s don't be intimidated by forking over the $25k+ as they aren't exactly sinking in value. The benefit of this car is you know the previous owner and likely his repair / maintenance / care habits.

The most daunting "repair" you list is the potential repaint but I suspect it doesn't really need a true repaint. It's amazing what can be achieve by an accomplished detailer. These 80's era Porsches have a lot of high quality paint and being an '88, it's two stage w/ the clear-coat to work with. A great color sand and detail will set you back $500 which I am thinking will eliminate your repaint concerns.

The turbo is no big deal. Buy a nice intercooler and exhaust while you're at it and have fun in a car that can't be replicated for twice the amount you'll have in total investment.

Thanks John.......thats kinda the way I was leaning......
I have a great mechanic friend as well as an awesome paint guy.
I'll keep you posted

[johnghini]

Hope it works out! I don't think you can lose on this one.

[Unobtanium-inc]

Originally Posted by 911chas

I have a great mechanic friend ...

Beware the great mechanic friend. They can get you into trouble. NOT because they don't want to help you. But when a mechanic friend tells you that oil leak is no big deal, you just need to pull the engine and "throw in a new main seal" he may as well be speaking in tongues. Unless you saved his life in the past and he owes you big time, you're almost better off paying a different guy full price to get it done in 2 weeks. I'm speaking from experience. Not every mechanic friend falls into this trap, but I think it's pretty common. -- Matt

[techweenie]

Originally Posted by Unobtanium-inc

Beware the great mechanic friend. They can get you into trouble. NOT because they don't want to help you. But when a mechanic friend tells you that oil leak is no big deal, you just need to pull the engine and "throw in a new main seal" he may as well be speaking in tongues. Unless you saved his life in the past and he owes you big time, you're almost better off paying a different guy full price to get it done in 2 weeks. I'm speaking from experience. Not every mechanic friend falls into this trap, but I think it's pretty common. -- Matt

LOL. Truer words were never spoken. And, from the mechanic's perspective: there is no worse job you can get into than discounted work for a friend.

[Matt Monson]

Friends' cars are second to last in line on the priority list, the last being the mechanic's own car...