Are 996 GT3 values finally softening?
Discussion
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.
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.
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.With economic growth forecasts down again this year that's not gonna change just yet either
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.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.
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.
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.With economic growth forecasts down again this year that's not gonna change just yet either
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
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.
Mind you, a 996 GT3 is one of the best Porsches - and cars - to sink your money in to.
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%)
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%)
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.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%)
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
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.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.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
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. 
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. Mike
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.
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.
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