|
|
Post by johnc on Dec 2, 2022 16:07:06 GMT
Having been spurred on by a comment from a friend, I had a look at Porsche 911's on Autotrader sorting them by mileage. There are loads and loads of 2022 cars with virtually no mileage (under 100 miles) selling for quite a variety of prices. There are also a few older more special cars like GT3s which have exceedingly low mileages and have been tucked away probably waiting for the right time to sell and profit
I presume that these people will have put their orders in a couple of years ago as the prices started to rise and they are now sitting fingers crossed that they can sell at a profit. There are a lot of specialist dealers with some pretty heavy metal which might now not be as easy to turn around and pocket £50K. Although you never know in Porsche land!
|
|
Deleted
Deleted Member
Posts: 0
|
Post by Deleted on Dec 2, 2022 16:34:47 GMT
If it follow previous episodes, as in the Jaguar XJ220 et al, there will be people crying into their milk. When the Jaguar XJ220 was speculated folk tried to back out and get their deposits back while Jaguar stood their ground. No idea if/how many speculators got burned.
As with any investment, with the benefit comes the risk.
|
|
|
|
Post by Stuntman on Dec 2, 2022 19:27:15 GMT
Prices on the recent GT Porsches (991 and 981 onwards) currently seem to be softening, particularly on the 992 GT3 where the initially crazy resale prices are coming back down to earth a bit (but still well over list).
There is plenty of supply of 718 GT4 cars, and also 991 GT3 cars. There will very likely be enough supply of 992 GT3 cars so that everyone who really wants one now at list (and is prepared to wait) should be able to get one - admittedly with potentially a lot of legwork calling lots of Porsche dealerships.
I suspect that most people don't really buy these cars to drive, they are just a status symbol to own. Obviously there are exceptions to that general rule, but I can say from experience that the 981 Cayman GT4 that I had was great in some conditions and fairly terrible in others. They are not easy cars to live with day to day - and rightly so. Porsche makes much more rounded road cars (e.g. the S and GTS models).
So while I don't foresee a return to the days of either 2003 or 2009-11 in GT Porsche land, I do think that fewer people will be clamouring for future GT Porsche model allocations because the quick flip is unlikely to be hugely profitable. Good news for the genuine enthusiasts who want these cars and have the means, but who get pushed down the queue by the mega-spenders who then flip them back to their supplying dealer and divvy up the profit between them.
I'm not shedding any tears and I'm keeping my GTS for the foreseeable future. It suits me very nicely.
|
|
|
|
Post by Alex on Dec 3, 2022 0:20:46 GMT
Part of me thinks the bubble has been inflated by low lending prices and a lack of supply in a similar way to how house prices have been inflated but at some point that bubble has to burst and the increased cost of lending will perhaps see to that, as will the fact that too many people have come into the game expecting to win big.
Let's have a look at the 991 GT3 RS. Just a quick look on AT says I can buy a 27k mile example for £145k (16 reg) in Slough so why would I go down to Orpington and spend £180k on one with deliver miles or to Exeter to spend £165k on one with 10k miles? Spec may come into it as will the desire to keep miles to a minimum in the hope this improves its value but ultimately at some point our mate in Orpington is going to have to bring his prices more into line with those of the fella in Exeter or our mate in Slough otherwise he's just going to have an expensive paperweight sat in his dealership for months and months on end.
|
|
|
|
Post by franki68 on Dec 3, 2022 9:51:03 GMT
Prices are all over the place .
Pre 2017 cars will always be worth a fair bit less than gen2 modems because of the engine issue .
I was going to sell mine as it’s been nearly 5 years of ownership which is remarkable for me ,but I’m struggling to find anything to replace it .
|
|
|
|
Post by Stuntman on Dec 3, 2022 12:12:14 GMT
The GT Porsche cars are very mileage-sensitive I think, with anything covering over 3000 miles a year being considered 'high mileage' and valued accordingly.
I suspect the 27k mile GT3 RS in Slough may have accumulated many of those being driven very hard on track (bravo if so) but the price is therefore reflective of its mileage and usage.
The good news is that these cars are designed to be driven hard, and if someone is buying for the long term then the 27k 'high miler' may well represent decent value.
A nice problem to have...
|
|
|
|
Post by Alex on Dec 4, 2022 12:40:42 GMT
But as much as miles make a difference to value, would you really want to spend an extra £35k on one thats still got delivery miles after 6 years? What's it been doing all that time and what might that have done to it mechanically?
|
|
