Bubble finally deflating?

[NYNick]

Matt, I count 5 cars before the TBD 74 Targa and the Boxster.
Perhaps you should consider the 12 step program for Porscheholics?

[Matt Monson]

Originally Posted by NYNick

Matt, I count 5 cars before the TBD 74 Targa and the Boxster.
Perhaps you should consider the 12 step program for Porscheholics?

Truth be told, not all of the cars I own are in my signature. The Targa and Boxster thing is actually an OR. I will buy one or the other but not both. It just depends what I find before I turn into a pumpkin. I'm getting tired of chasing and looking to pull the trigger sometime this week hopefully.

I wrote this about a decade ago when I was knee deep in Subarus. I've lost count but in the last 15 years I've owned roughly 3 dozen Subarus and close to a 2 dozen Porsches. Yeah, I have issues. I own it.

1. We admitted that we were powerless over modding-our lives(and our bank accounts) had become unmanageable.
2. Came to believe that a horsepower greater than stock could restore us to sanity.
3. Turned our will an our lives over to Awd(pronounced like god minus the "G"), as our Subbie was blessed with it.
4.Made a searching and fearless inventory of our build.
5. Admitted to Awd, ourselves and to another human being the exact nature of our build.
6. Became entirely ready to have Awd remove the defects of our Subby's character.
7. Humbly asked him to remove the hold on our credit cards.
8. Made a list of all the parts we had wrong and became willing to amend them all.
9. Made direct amends of all the parts we had wrong except when do so would decrease performance or make Subby undriveable.
10. Continued to take mod inventory and when parts were wrong we promptly corrected it.
11. Sought through prayer and meditation to improve our conscious contact with Awd, as we understood him, praying only for knowledge of his will and the money to carry that out.
12. Having had a spiritual awakening as a result of these steps, we tried to carry this message to Subaholics and share our experience in all of our affairs.

Progress, not Prefection. Subby Hai!

I've recently been working on step 10. In the last two weeks through parts sales, I've put almost enough money into my pay pal to buy a gen 1 986 Boxster.

[NYNick]

Um, I'm all too familiar with those steps.
My name is Nick and my Porsche date is April 5th, 1970.

BTW, actually laughed out loud while reading them! You have to change it for P-cars!

[mattC2993]

Originally Posted by vracer

Modern cars have two main problems -

#2: They depreciate

#1: They're too dam* good. You don't get the fun of pushing them until they are going insanely fast, and that is even true of some of the 'not-so-new' cars. A while ago I had the pleasure of driving a friend's 993TT for a day long 'back country road' drive. I know that this is the Holy Grail for many P-car people, but it was just too competent. No matter what I threw at it, it just said to me, "Aw come on; I can do a lot better than that".

Driving a car like that fast is the equivalent of stealing candy from a baby. I think it more fun to steal from a 15 year old.

Not sure about the 15 year old but the rest is true. My 993 and current Cayman S are really too fast and competent to have a lot of fun with legally on the street. The car I enjoy driving the most is my 100 hp 356 hot rod. You can put the foot to the floor often and have fun in the corners without travelling at go to jail speeds. I hope my 911E is just as much fun when it is done.

[2ndTARGA]

But, back to the question posed by the OP, here's some additional input:

Ask Goodwin - Are today's mad classic car prices here to stay? | Evo

[Nick Triesch]

I don't know Matt, My 356 S 75 was pretty darn slow and my 3.2 that I own now is way more fun to drive up in our local mountains. And my friends Cayman S (also 08) is WAY more fun to drive than my 3.2! I guess everybody is different. The motoring press all agree that the new 2015 Alfa Romeo 4C is about the seat of your pants best fun car to drive.

[ficke]

I have a Ruf mod. 1979 930 and a stock, rag of a 68 911S, I end up driving the 68S 90% of the time. Slow car fast is usually more fun than driving a fast car slow for me.
New cars I do not feel I am even driving.

[Matt Smith]

I don't believe any air cooled Porsche hype is a bubble. They will increase in value.

My line in the sand at 10/07/15

Please discuss..

[voitureltd]

The upcoming numerous public auctions in Monterey, Pebble Beach area should be a decent indicator of the current value condition. Surely there will be some theme of current interest in Porsche's. Private sales are usually not easy to get real numbers from.
I just noticed two restoration shops that specialized in Muscle cars out of business and Real eastate up for sale. Sure that was such a rat race with fakes being produced by some. Not that easy to do with most all air cooled Porsche's, so that Bubble bursting had other motivating factors. For those who got burned, were aware of , or followed that bubble should know this adage, "fool me once, shame on you, fool me twice, shame on me".

[73.5TinPA]

Originally Posted by voitureltd

The numerous public auctions in Monterey, Pebble Beach area should be a decent indicator of the current value condition.

Coming up in August...
As a subscriber to Sports Car Market magazine, and a (past) long time resident of the Monterey Peninsula, I always take a special interest in the auction reports of Monterey.

We will get results from top-of-the-range Porsche models- there is very little junk sold there.
So, the prices will be an excellent indicator of the potential of premium cars.
But, not the run of the mill stuff.
Will be interesting to watch & see.

[911SauCy]

Originally Posted by Matt Smith

I don't believe any air cooled Porsche hype is a bubble. They will increase in value.

My line in the sand at 10/07/15

Please discuss..

I agree completely with this. Are they appreciating fast, yes. Are they likely to level off or slow at some point, yes. Do I think they'll tank like Hemi Powered Mopar manure spreaders? No way.

When I think car bubble, I think muscle cars, so here's my discussion, with myself, read if you dare

I'm acquainted with a nice, dumb, guy who dropped $275k on a "35k-mi, freshly concours restored, 4-spd." Hemi-Road Runner when people we're paying stupid money for these junks in the mid-2000s. Can't get 100 of those 275ks back today for it...he's tried.

An air-cooled Porsche has never been a family car with a shoe-horned boat anchor for a power plant that handles like a 1-ton truck. Heck, some share almost the entirety of their running gear with trucks, but who cares right?

In relation to "muscle cars" there were far less air-cooled Porsches produced in totality by comparison. (Great example: 250k+ '69 Camaros as compared to under 65k SC's produced from '78-'83) The people consuming are very different and the history they boast can only be likened to a few other prestigious marques. These cars have been a benchmark, a yardstick, the barometer of other race shops trying to get to the checkered first. They're weird, the shape is instantly recognizable, and they're becoming more rare...nobody is selling pre-vin'd "new" 911 tubs like they are Willys, Pre-War Fords, Camaros etc etc Porsche has stooped to the lowly dregs of mass producing Panameras, but I highly doubt they'll ever be selling '69 S tubs as new in the back of a catalog...

Despite all my nonsensical tongue flapping comparisons, There is truth to the reality being that no matter what "old car" you own, they will all becoming increasingly valuable as the years click by. Could someone over pay today and be $5k behind the value in a year? Sure, but keep it for 10 years and no doubt you'll be ahead of the game. If you're not willing to hang onto it for 10 years, then you're a flipper, and we don't like you here.

With cars moving toward electric power, driving aids, and being jam packed full of driver reducing computer run garbage... People who want a driving "experience" will be paying a premium for "internal combustion" cars in the coming years... Never mind an air-cooled early Porsche. I truly believe that within 50 years it will be a novelty to ride in and experience a gas powered car, finding fuel will become increasingly more difficult and kids won't know what all that noise is. People will also likely be impressed by how slow they are, think P85D.

If I'm wrong about everything else in my post, and if it is hype and the "bubble" bursts, you can dang well bet your bottom dollar that parts will NEVER get less expensive.

[Skwerl]

What sort of justifications/rationalizations did that guy use in the mid-2000s when he paid $275k on his Hemi-Road Runner? He (and others) obviously didn't think "Pshaw, they'll be <$100k in a few years. Let's slow our roll." Did they sound anything like what we are hearing today?

[911SauCy]

Originally Posted by Skwerl

What sort of justifications/rationalizations did that guy use in the mid-2000s when he paid $275k on his Hemi-Road Runner? He (and others) obviously didn't think "Pshaw, they'll be <$100k in a few years. Let's slow our roll." Did they sound anything like what we are hearing today?

I said he was dumb.

I'll be sure to jump into a low $$ 993TT as soon as the prices come down

[Skwerl]

Originally Posted by Lots of people in 2005

I'll be sure to jump into a low $$ Hemi-Road Runner as soon as the prices come down

...

[Rick Brooklyn]

Originally Posted by 911SauCy

I truly believe that within 50 years it will be a novelty to ride in and experience a gas powered car, finding fuel will become increasingly more difficult and kids won't know what all that noise is. People will also likely be impressed by how slow they are, think P85D.
.

Sadly, in 50 years time it will most likely be illegal for a human to drive a car, any car, on public roads.

[Matt Monson]

I'll be dead in 50 years. Hell, I will probably stop driving in 30 years, it I'm still here. I'm selling most of my cars in 20 years.

[manbridge 74]

Originally Posted by Matt Monson

I'll be dead in 50 years. Hell, I will probably stop driving in 30 years, it I'm still here. I'm selling most of my cars in 20 years.

Lighten up Francis! You've got 45 years at least...

My mentor quit driving at 95. Of course he was rockin a supercharged Buick Park Avenue.

[Rick Brooklyn]

Originally Posted by manbridge 74

Lighten up Francis! You've got 45 years at least...

My mentor quit driving at 95. Of course he was rockin a supercharged Buick Park Avenue.

90 is the new 65. Look at Warren Buffett, Charlie Munger, Kerkorian. Manoel De Oliveira directed his last movie at 103!

[Nick Triesch]

I was always told that for a car to be super collectable it had to be a desirable and good car in the first place . And there has to be few of them around. There are thousands of Sc and 3.2 cars the world over. I think most of them live in New Porsche Beach!! Just too many of them. I'm just being realistic.

[Matt Smith]

Nick- also being realistic, there aren't many where I am.
Ok, so that's fair seeing as I'm in a geographically remote spot. But we watch the international market, and fairly trade in this market. Germany will want their 911s back real soon through imports; they made them after all. You guys in the US have it sweet. Drive, and enjoy the rides