Are 996 GT3 values finally softening?
Are 996 GT3 values finally softening?
Author
Discussion

mollytherocker

Original Poster:

14,467 posts

239 months

Tuesday 17th July 2012
quotequote all
There seem to be more of these for sale below £35k than at any time previously?

So whats happening? Are these all sheds and the good ones are being held onto? Or are the sub £50k 997 GT3's pushing them down?

Or is it just the weather?

MTR

Porkupine

1,722 posts

195 months

Tuesday 17th July 2012
quotequote all
mollytherocker said:
There seem to be more of these for sale below £35k than at any time previously?

So whats happening? Are these all sheds and the good ones are being held onto? Or are the sub £50k 997 GT3's pushing them down?

Or is it just the weather?

MTR
Maybe all three reasons!

sportsandclassic

3,774 posts

248 months

Tuesday 17th July 2012
quotequote all
What a load of rubbish!

smile

There does seem to be a lot of them for sale at minute. They are staying around longer now, I am sure that the good ones will always sell.

Mike

marky911

4,434 posts

249 months

Tuesday 17th July 2012
quotequote all
I think it's the newer model coming down that's doing it.

Same thing is happening with Ferrari 360s which stayed quite firm for the last couple of years. The 430 coming down has the same effect as the 997 does on the 996.

Funnily enough the 6GT3 and 360 are the two cars I'd be choosing between if I sold the 964, so I always keep an eye on the prices.

mollytherocker

Original Poster:

14,467 posts

239 months

Tuesday 17th July 2012
quotequote all
Yep, a 996GT3 is the only thing I would sell my 993 for too.

Or a nice red 3.2. Or maybe a silver 2.0. scratchchin

MTR

911god

2,961 posts

215 months

Wednesday 18th July 2012
quotequote all
It's not just gt3's it's everything . U tried selling a car recently?? You have to have the best and cheapest example just to get a call.
With economic growth forecasts down again this year that's not gonna change just yet either

anonymous-user

84 months

Wednesday 18th July 2012
quotequote all
911god said:
It's not just gt3's it's everything . U tried selling a car recently?? You have to have the best and cheapest example just to get a call.
With economic growth forecasts down again this year that's not gonna change just yet either
Actually it is not everything - many traders are short of good stock and new car sales are good (private up 10% year on year - corporate up 3.5%), but the market is favouring smaller cars, rather than 10 year old Porsches.

911god

2,961 posts

215 months

Wednesday 18th July 2012
quotequote all
drmark said:
Actually it is not everything - many traders are short of good stock and new car sales are good (private up 10% year on year - corporate up 3.5%), but the market is favouring smaller cars, rather than 10 year old Porsches.
yeah maybe and moneys cheap so finance deals are out there too.

LaurasOtherHalf

21,429 posts

226 months

Wednesday 18th July 2012
quotequote all
It does seem to be the same cars up for sale though doesn't it? Which would lead you to believe they ain't shifting.

In fact, I'd say in the last two years only a handful of cars have "sold", most are either taken off the market, passed from private to trade or shifted from one dealer to another.

Plus it has to be said, when people are asking around 40 for a 996 & 50 for a 997, I find myself doing the man maths to justify the extra 10 grand.

mollytherocker

Original Poster:

14,467 posts

239 months

Wednesday 18th July 2012
quotequote all
911god said:
It's not just gt3's it's everything . U tried selling a car recently?? You have to have the best and cheapest example just to get a call.
With economic growth forecasts down again this year that's not gonna change just yet either
I agree with that for bread and butter stuff up to and including Boxsters and Carreras etc.

But cars like the 996GT3 operate in a different market, their own little micro-economic bubble. In times of economic depression, the value of 'special or classic' cars can actually increase.

Indeed, some prestige brands are having record sales at the moment! Go figure!!!

MTR

anonymous-user

84 months

Wednesday 18th July 2012
quotequote all
Let's face it, Porsches are not high on most people's list of priorities at the moment and, even if they could comfortably afford one, I get the impression that image is becoming an issue again with some would be purchasers.
Mind you, a 996 GT3 is one of the best Porsches - and cars - to sink your money in to.

MadMark911

1,755 posts

179 months

Wednesday 18th July 2012
quotequote all
I've heard it suggested that the weather isn't helping, but GT3's are perhaps a more "indulgent" purchase than many other Porsches (as they're less practical and more "track orientated") and so are often a 2nd, 3rd or 4th car.

Personally I believe it's the financial instability. Europe is still teetering on the brink and we're back into recession after 2 quarters of decline and the cost of borrowing money to finance a car looks ludicrous! (e.g Porsche are charging 10.4% APR when the bank base rate is 0.5%)

anonymous-user

84 months

Wednesday 18th July 2012
quotequote all
I'd say they are still on their natural depreciation curve (however shallow) and haven't hit the bottom of it yet.


LaurasOtherHalf

21,429 posts

226 months

Wednesday 18th July 2012
quotequote all
MadMark911 said:
I've heard it suggested that the weather isn't helping, but GT3's are perhaps a more "indulgent" purchase than many other Porsches (as they're less practical and more "track orientated") and so are often a 2nd, 3rd or 4th car.

Personally I believe it's the financial instability. Europe is still teetering on the brink and we're back into recession after 2 quarters of decline and the cost of borrowing money to finance a car looks ludicrous! (e.g Porsche are charging 10.4% APR when the bank base rate is 0.5%)
How many 996 gt3's are ever going to turn up at an OPC though? In fact, the reason hardly any do these days is probably due to the fact that to get a half decent finance deal the 996 is too old.

There are some fantastic rates going around if you shop around for them, I haven't financed a car for years but I did enquire recently to see what was about you'd be surprised at what low rates you can get.

Certainly for anyone who runs a business, where you might want to keep some of your cash liquid it kind of makes sense.

So, you've saved up a nice little toy fund, do you spunk it all on owning a 996 outright or move up the ladder to the 997 & borrow the money for a small fee?

Not hard to see why the aren't shifting I reckon

thegoose

8,077 posts

240 months

Wednesday 18th July 2012
quotequote all
mollytherocker said:
There seem to be more of these for sale below £35k than at any time previously?
I haven't looked at current adverts/prices but a general comment would be that as these things are 8-13 years old the individual car needs to be assessed rather than just headline price. Mike from S&C bought his MKII early in 2010 for less, my yellow MKI sold for a similar amount in March that year - both were stunning cars (way above average compared to any others on the market at the time) but both have had, err, let's just say well into five figures, spent on them since by owners who want them "just-so" and are prepared to dig deep to do it.

LaurasOtherHalf

21,429 posts

226 months

Wednesday 18th July 2012
quotequote all
thegoose said:
mollytherocker said:
There seem to be more of these for sale below £35k than at any time previously?
I haven't looked at current adverts/prices but a general comment would be that as these things are 8-13 years old the individual car needs to be assessed rather than just headline price. Mike from S&C bought his MKII early in 2010 for less, my yellow MKI sold for a similar amount in March that year - both were stunning cars (way above average compared to any others on the market at the time) but both have had, err, let's just say well into five figures, spent on them since by owners who want them "just-so" and are prepared to dig deep to do it.
How is Ben getting on with your old car? I would have loved to see a build thread on everything he's done, same with mike's, these cars should have been in the readers cars section.

mollytherocker

Original Poster:

14,467 posts

239 months

Wednesday 18th July 2012
quotequote all
thegoose said:
I haven't looked at current adverts/prices but a general comment would be that as these things are 8-13 years old the individual car needs to be assessed rather than just headline price. Mike from S&C bought his MKII early in 2010 for less, my yellow MKI sold for a similar amount in March that year - both were stunning cars (way above average compared to any others on the market at the time) but both have had, err, let's just say well into five figures, spent on them since by owners who want them "just-so" and are prepared to dig deep to do it.
Thats a fair point, and one I go on about all of the time with the older stuff!

I was just commenting on what seems to be the general trend. However, some of the dealer cars have stuck around for ages, I guess they must have issues?

MTR

boxsey

3,579 posts

240 months

Wednesday 18th July 2012
quotequote all
LaurasOtherHalf said:
Plus it has to be said, when people are asking around 40 for a 996 & 50 for a 997, I find myself doing the man maths to justify the extra 10 grand.
If I was in that situation where I had the extra for the 997 I'd take the 996 because in my experience it's more alive than the newer model. I'd sacrifice the slightly faster lap times of the 997 for the greater fun factor of the 996. The 10 grand (or more) saved would then come in very handy to make sure the 996 is tip top. smile

sportsandclassic

3,774 posts

248 months

Wednesday 18th July 2012
quotequote all
boxsey said:
LaurasOtherHalf said:
Plus it has to be said, when people are asking around 40 for a 996 & 50 for a 997, I find myself doing the man maths to justify the extra 10 grand.
If I was in that situation where I had the extra for the 997 I'd take the 996 because in my experience it's more alive than the newer model. I'd sacrifice the slightly faster lap times of the 997 for the greater fun factor of the 996. The 10 grand (or more) saved would then come in very handy to make sure the 996 is tip top. smile
Faster lap times...? Ask the two 997 GT3 drivers who were at Donington Park with us about faster lap times. Both were taken by a blue 996 GT3 smile

Mike

mrdemon

21,146 posts

295 months

Wednesday 18th July 2012
quotequote all
I don't think there are many nice ones for sale when you look at the stock.
and the nice ones are 45k still.

A refresh costs 10k easy, these cars a 8 years old now.
you can buy a higer miles very used one at 35k and spend the 10k on it.

prices seem strong to me and you get what you pay for.