Selling my 993..

Well, I received a message off the back of this Thread, and subsequently SOLD my 993..

New Owner is going to take it to an extreme place, so I wish him all the best and look forward to seeing the progress and result..

For now, I am very much enjoying my 968 Sport, which I was thinking of selling also, but think that for now I'll use it as my Daily.. :thumb:

Congrats on the sale and testament that well looked after, enthusiast owned cars are selling.

Would be interested to know what sort of figure you achieved for anyone thinking of selling a car north of the 100k mile mark...?

C.

cableguy said:

Would be interested to know what sort of figure you achieved for anyone thinking of selling a car north of the 100k mile mark...?

Click to expand...

A realistic one..

Obviously I wanted to get as much as possible, but the new Owner is taking it in a direction that I would necessarily do myself if I had the £, so he was coming from a Project Budget angle rather than a Daily Driver one..

Ah the dreaded "but"... reads like you took a beating... :grin:

Onwards and upwards... Sometimes if you want a quick sale then negotiating hard is par for the course.

968 looks great and at least you have some Pork in your life. :thumb:

C.

KingRoon, GREAT to read that you sold your 993 and at a "realistic" price, though it can be difficult to determine what realistic is given folk are up against what the current market dictates dependant on many factors, and those who think that their car value may be determined by "trade" advertised prices, may be in for a shock... Even acceptance of that, given the many examples of the REALITY of the value of some traders warranties or even pre sale inspection preparation of that which would be considered close to scrap were it a run of the mill sports car, but saved that indignity with a few patches welded in here and there....? Yup quite a degree of variation there alone given we may be discussing a SPORTS car over 20 years old or older.. whose clocks may be more regularly re-set than a bedside alarm..?

In terms of assessing a realistic value, I am with Zingari and also think along very similar lines to Counter of Beans when it comes to modified cars, given that Porsche were pretty well renown for producing sports cars that outperformed their competitors in so many ways.... Sure in the process of doing so they had to make their products more middle of the sporting spectrum as opposed to b*lls out racers, but I suspect any one persons ideas of perfection, could totally spoil an other persons ideal of what a Porsche should be, which in the GENERAL marketplace might seem less than ideal, perhaps more so as those in the market for Porsches seem to be of a certain age....Dunno for sure...?

When I look at trying to be realistic, I start out from a basic standpoint that a friend bought a very nice original red with black interior low mileage 964 from a Porsche specialist dealer circa 2009 for £16k, the same dealer has advertised a 964 very similar to that at circa £50k in very recent times... The change in advertised price bears a reflection of the market, though there is also a private advert for a white 964 Targa on this forum with sub 100k miles for £30k that has been ON for well over a year.. I suspect the owner believes it is worth his advertised price and if he does not get that then NO SALE, and thus the outcome seems obvious, but perhaps not following his market thinking or sales strategy...?

I suspect Baby Boomer effects are creeping in and I also expect they will increase considerably as more and more those baby boomers use their Porsches and other sports cars less and less as they begin to loose their grip on the perch, driving an old sports car is becoming increasingly uncomfortable, and getting it through an MOT is becoming ever more expensive till it becomes an expense they can do without, causing the vehicle to be laid up in the garage or be advertised at a price beyond which the market will pay until REALITY sets in... Whatever..... and I have not even mentioned climate change up till now...!!!

I think it seems probable that many who made/make financial sacrifices to buy a 911 but may predict the market may well drop, and perhaps fast, may begin to think there are other more valued long term priorities in life more deserving of cash/borrowings, and in such instances, a roof over ones head is about as good as it gets so well done you KingRoon... :thumb: :thumb:

Congrats on the sale KingRoon.

These future value predictions always get me trying to think of any precedent. Are there any examples of a car's value being linked to the wealth of a particular generation on the way up as they become more wealthy and then down again as they age.

Surely we would expect to see examples of cars from the 50's or earlier that were once highly sought after, but are now worth significant less in real terms.

Not sure I can think of any - it seems once cars reach a certain level of desirability then values are more closely linked to scarcity and asset prices than anything else.

That's not to say they won't go down of course, but I don't think an aging generation will be the driver for that.

Orangefender, First off I claim ZERO credibility in terms of market predictions.... I am of the Baby Boomer generation, thus have been around a while, perhaps long enough to have witnesses the "birth" of the "Classic" car market which by my observations evolved when the magazine for your average DIY would-be car repairer was CAR MECHANICS, and from a very dull memory remember that the editor of the mag was at the time trying to repair/restore an XK JAG and was lamenting that he had managed to acquire the very last door panel available from a Jag dealership in the UK... I think the same chap was then part of the team pulled together to start the first magazine catering for those who were repairing and restoring older sports cars, the first magazine of it`s type was as I remember Classic and Sports Car and the time was around the early seventies. Prior to that Motorsport was perhaps the mag that catered for vintage veteran and GP enthusiasts.

Where I lived in the fifties and early sixties few folk ever expected to own a car and any who ran one were running what were referred to at the time as BANGERS, old pre war machines held together with anything possible that came to hand, a nice bit of shaped oak bolted into a weak point in the chassis as the result of corrosion, or strange clamping arrangements to shorten stretched Bowden brake cables, I even saw a tyre sidewall being stitched and an inner tube being fitted to an old pre war Rover in the hope it would act as a spare if called upon...!!! In those time trying to sourse car parts was VERY difficult for other than current vehicles, the war had soaked up so much "scrap" then of course when the Ministry of Transport introduced the MOT test in 1960, many vehicles which were "bangers" then and would have been today`s prized Classics dissapeared overnight, scrap dealers had them piled high one on top of the other.... So things were very different back then.

If in the 50`s or sixties you spoke of disposable income relative to the man in the street no one would have understood .... Thus it was not until the late sixties and early seventies that the average income might allow the working class to own a car...though there had ever been restrictions on doing so, requiring 1/3 deposit of the full purchase price before HP would be agreed etc. etc..There was no such thing as easy money until Thatcher came to power, after which the whole economic picture seemed to change considerably £10 down and drive away etc.etc.etc.

Thus to me it seems from the birth of the classic press that many businesses set up re-manufacturing all sorts of parts that up till then had not been available allowing the birth of car restoration businesses etc.etc.etc. Much of which allowed the baby boomers then in their twenties and thirties to get involved with what had now become classic cars, or even in the case of the likes of Porsche future classics with the term INVESTMENT playing a large part in the marketing process... and which gained momentum over the years..?

As I have typed elsewhere, any Classic car show I have attended were over the years were populated by folk of my age. Last year I attended a large classic car event and the majority of owners displaying all sorts of vehicles from vintage, veteran through to Porsches and sports cars of all ages were baby boomers.... If you have watched the TV show Wheeler Dealers, there was a recent series of Porsche episodes and it seemed none of the buyers were other than baby boomers or close to that age group..as it seems to be with most of the cars they "restore"...? I was just married and mortgaged up when circa 21 years old, the young of today seem to be living with their parents into their 30`s or beyond and seem to have little to no chance of buying a property... changed days..?

If indeed as I suspect the vast majority of "Classics" are owned by BBs, then for the reasons stated in my last it seems obvious that as even the youngest of them will be 65, and not getting any younger, there will be an effect on the classic market.... add to that Global warming and whatever the politicians might be expected to come up with and how would you rate the investment potential of a classic.... ? More than happy to read alternative thinking.. :?:

But is there any example of a car which has depreciated in line with a particular generation's wealth or appetite to maintain.

Duplicate post

Orangefender, I will try to keep it short.... (-:

There was never a city destroyed by one bomb until Hirosima, until it happened. Sorry do not want to appear flippant, but hope you get my drift. The baby boomers are often identified as a time bomb relative to all sorts of social circumstances, and as far as I can judge it seems likely that Classic cars will be amongst the mix. Add to that Climate change, and it seems one has to have blind faith or blinkered vision to see otherwise.... But, more than happy to be proved wrong. :?:

wealth

Luddite some commentators say the next generation to baby boomers are going to be even wealthier as you lot drop off the perch and leave your inheritance and houses to the next generation they are going to be going crazy with their new found wealth..........unless you have taken equity release and didn't tell them

Stichill99, As I have typed more than once, I have ZERO financial qualifications....

Equity release would seem to be another ploy of the financial sector to keep folk in debt and paying interest..?

Seen a plethora of E.R. adds appearing on TV of late, "my house paid for" this that or the other, be it holidays, new car or deposit for the kids flat.... Anyone with half a brain can surely know that it is no more than another loan with the house as guarantee, and when folk lend money they charge interest..NO..? The kids will not inherit anything much if their parents die in debt or default on payments, the financial services industry lawyers and others will all grab the cash...Not to mention nursing home fees circa £65k per annum should that be a requirement for us old codgers..

Folk have been using the equity built up in their homes for years, using it like a cash machine to pay for family holidays, new car, the kids education, weddings and so much more, by the time they fall of the perch it seems unlikely there will be anything left other than in the pockets of those listed aabove.... and of course politicians who allow the same old same old to carry on and on and on...

Or do you imagine otherwise :?: :dont know:

While interesting to discuss I suspect we are straying off a tad.. :?: