Mac Posted October 2, 2013 Share Posted October 2, 2013 (edited) I'm in the US and I've been looking at classifieds in Pelican, Rennlist, eBay, etc often for the last six years or so and I've noticed a distinct increase in asking prices of our cars during the last year or so. I suspect the 50th anniversary of the 911 and the attendant media coverage may be contributing to this, and perhaps the slight improvement in our economy, especially recovery of home values, may also be helping. Have you guys noticed the same thing over there? Edited October 2, 2013 by Mac Link to comment Share on other sites More sharing options...
Nick Moss Posted October 2, 2013 Share Posted October 2, 2013 Early Porsche 911 prices started surging here just after the Lehmann Brothers collapse, people were wanting to get their money out of what they perceived to be unsafe banks into something more solid. Impact Bumper price prices have been far more recent, just the last couple of years, so I would say they have been pulled up by the price rices of the early cars. I think the rises have been completely detached from any rise in economic figures or even sentiment. The last year has seen an even bigger lurch which is probably due to the 911-50 celebration and media coverage, we will only know the true answer after all the excuses for celebration have gone, in 2015. Link to comment Share on other sites More sharing options...
webbyontheweb Posted October 2, 2013 Share Posted October 2, 2013 I think Nick is spot on. The situation is exacerbated as papers like the FT have had recent articles pointing out that classic cars have been the best investment class over the last 10 years especially as any returns are not subject to CGT. This has attracted more money in and makes it diffcult for the enthusiast. Link to comment Share on other sites More sharing options...
Fred Posted October 2, 2013 Share Posted October 2, 2013 Early Porsche 911 prices started surging here just after the Lehmann Brothers collapse, people were wanting to get their money out of what they perceived to be unsafe banks into something more solid. Impact Bumper price prices have been far more recent, just the last couple of years, so I would say they have been pulled up by the price rices of the early cars. I think the rises have been completely detached from any rise in economic figures or even sentiment. The last year has seen an even bigger lurch which is probably due to the 911-50 celebration and media coverage, we will only know the true answer after all the excuses for celebration have gone, in 2015. funny you say that Nick. A good friend of mine was one of the top lawyers for Lehman Brothers and he just bought his first classic (anyway for him classic meant 993) Porsche a few month ago. Link to comment Share on other sites More sharing options...
Jay Man Posted October 2, 2013 Share Posted October 2, 2013 Collectors are buying up low mileage examples of lower volume or rarer cars and sticking them away. That means less of the more usable examples are available and this pushes up prices for everyone. Having studied the classifieds it seems the price rises are affecting all cars, not just air-cooled. I remember looking at Testarossa's in the classifieds only 3 or 4 years ago for £30k and thinking what great value they were. Now 50k+ seems the norm. I cant think of a better potential investment, something you can polish, drive and enjoy, if it goes up in value happy days! Link to comment Share on other sites More sharing options...
Rob Morris Posted October 2, 2013 Share Posted October 2, 2013 I totally agree with the last line of Jay Man reply Jay Man QUOTE: I cant think of a better potential investment, something you can polish, drive and enjoy, if it goes up in value happy days! Link to comment Share on other sites More sharing options...
Mac Posted October 2, 2013 Author Share Posted October 2, 2013 I don't have any plans to sell my Turbo so the value really doesn't matter much to me, but I sure am glad I got mine when I did. I think a decent Turbo today would cost 20-25% more than what I paid two and half years ago. Link to comment Share on other sites More sharing options...
fredT Posted October 3, 2013 Share Posted October 3, 2013 (edited) It's all classic cars plus houses (in the right area) and anything else 'substantial'. It's not confined to IB's. Personally I don't believe it's because the economy is improving (it isn't improving), but rather the opposite. It's simply inflation caused buy the massive printing of cash the last few years to try and dig the world economy out of this hole we're in. Lets see how long it lasts IMHO Edited October 3, 2013 by fredT Link to comment Share on other sites More sharing options...
Mac Posted October 3, 2013 Author Share Posted October 3, 2013 US Federal Reserve has been printing money for four years, we've been in a recession a bit longer than Europe. I've noticed the surge in Porsche (and probably other collectable cars) prices in the last year and half or so. These are just my, unprofessional, obversations. Link to comment Share on other sites More sharing options...
Chris_911 Posted October 3, 2013 Share Posted October 3, 2013 A good friend who deals in e types reckons the 50th made no difference, if anything they went up before the 50th so people could have one for the 50th year celebrations but the anniversary itself made no real impact. I will add that I'm getting far fewer enquiries about turning nice cars into hot rods now, more like the other way round, stockpile of standard bumpers I had and couldn't get rid of has gone this year, if people modify they want to be able to change it back, I don't foresee a crash in these prices, maybe a levelling out, I may be wrong though, just be careful lots of junk out there dressed up otherwise as people out to make a swift buck Let me know if you have/ get a really good 3.2 rear bumper! Link to comment Share on other sites More sharing options...
fredT Posted October 4, 2013 Share Posted October 4, 2013 US Federal Reserve has been printing money for four years, we've been in a recession a bit longer than Europe. I've noticed the surge in Porsche (and probably other collectable cars) prices in the last year and half or so. These are just my, unprofessional, obversations. They have always been printing money and like you say the last four years they have really ramped it up, and I think this is just how long it has taken to filter down to consumer levels. A lot of this is gobbled up through layers of intra bank dealings, and when it finally hits the street the banks are still benefiting most out of it by charging us ongoing interest... Apart from bluechip collectables (the very best IB's included) and superprime real estate I think we'll see a levelling, and I can't see run of the mill IB's (like mine) moving much anytime soon. In my humble slightly cynic opinion Link to comment Share on other sites More sharing options...
alastair Posted October 4, 2013 Share Posted October 4, 2013 I think my 1982 SC has probably almost doubled in value in the last 12 months. How do I know that? Because I have spent a lot more than that on bodywork welding, paint, parts, engine rebuild etc etc etc Link to comment Share on other sites More sharing options...
theo5042 Posted October 4, 2013 Share Posted October 4, 2013 I think my 1982 SC has probably almost doubled in value in the last 12 months. How do I know that? Because I have spent a lot more than that on bodywork welding, paint, parts, engine rebuild etc etc etc Just be carefully of falling into the trap of spending more on the car than you will get back.12k car Plus 12 k spend does not equal a 24k car. Link to comment Share on other sites More sharing options...
alastair Posted October 4, 2013 Share Posted October 4, 2013 Just be carefully of falling into the trap of spending more on the car than you will get back. 12k car Plus 12 k spend does not equal a 24k car. I know, just a gratuitous comment to convince myself that my hobby isn't a complete black hole. It works the other way too - a £70K new Porsche bought today will most likely be a £25K Porsche in a few years time. Not bought as an investment, just for the pleasure(?) of the challenge of making it as good as can be for my own satisfaction and education. It's a keeper so no intention of selling - remember, negative equity is only relevant when you have to sell and I hope that it will always be worth more to me than anyone else to avoid the temptation. Link to comment Share on other sites More sharing options...
Jay Man Posted October 5, 2013 Share Posted October 5, 2013 I know, just a gratuitous comment to convince myself that my hobby isn't a complete black hole. I spent a lot of money getting the bodywork on mine right when I could have bought one already done. There is a certain satisfaction in knowing that the work has been done right and that you are not going to have any nasty surprises in the future. Link to comment Share on other sites More sharing options...
johndglynn Posted October 17, 2013 Share Posted October 17, 2013 Just be carefully of falling into the trap of spending more on the car than you will get back. 12k car Plus 12 k spend does not equal a 24k car. Sometimes it definitely does. Sit on an SC long enough and it will be more than that. Link to comment Share on other sites More sharing options...
runnersp Posted October 17, 2013 Share Posted October 17, 2013 Just be carefully of falling into the trap of spending more on the car than you will get back. 12k car Plus 12 k spend does not equal a 24k car. Only relevant if you want to sell it... Link to comment Share on other sites More sharing options...
Beaky Posted October 18, 2013 Share Posted October 18, 2013 Only relevant if you want to sell it... Actually very relevant for insurance valuation purposes, which is exactly what I'm doing Link to comment Share on other sites More sharing options...
Mac Posted January 23, 2014 Author Share Posted January 23, 2014 I'm not sure if Hagerty Insurance operates in Europe but they are one of the popular Collector Car Insurance companies in the US. They have a valuation service on their website, I looked up my 86 Turbo on there couple of months ago and they showed an "average value" of $39k for it, I looked couple of days ago and they had increased that number to $58k!! I could not believe it. I then looked at my 81 SC and my 88 M3 on their site and noticed that their valuation had also been upped 6% and 18% respectively. I started looking around and found some threads on Pelican and Rennlist regarding the Hagerty valuation, there seems to be many people that were surprised by this as I am. Link to comment Share on other sites More sharing options...
alanchester Posted January 23, 2014 Share Posted January 23, 2014 I'm not sure if Hagerty Insurance operates in Europe but they are one of the popular Collector Car Insurance companies in the US. They have a valuation service on their website, I looked up my 86 Turbo on there couple of months ago and they showed an "average value" of $39k for it, I looked couple of days ago and they had increased that number to $58k!! I could not believe it. I then looked at my 81 SC and my 88 M3 on their site and noticed that their valuation had also been upped 6% and 18% respectively. I started looking around and found some threads on Pelican and Rennlist regarding the Hagerty valuation, there seems to be many people that were surprised by this as I am. Yes they have the same tool in the UK, http://apps.hagerty.com/ukvaluation/index.html?showBacklink=1 Link to comment Share on other sites More sharing options...
Wingnonut Posted January 23, 2014 Share Posted January 23, 2014 Yes they have the same tool in the UK, http://apps.hagerty.com/ukvaluation/index.html?showBacklink=1 And if you can find even a Condition 4 1989 3.2 Coupe for £7100 I'll eat my hat! http://apps.hagerty.com/ukvaluation/index.html?showBacklink=1 Link to comment Share on other sites More sharing options...
GaryD Posted January 23, 2014 Share Posted January 23, 2014 And if you can find even a Condition 4 1989 3.2 Coupe for £7100 I'll eat my hat! http://apps.hagerty.com/ukvaluation/index.html?showBacklink=1 Ditto an SC. 'Fair condition', - £5800. What decade did they write that? Link to comment Share on other sites More sharing options...
Jim Rummy Posted January 23, 2014 Share Posted January 23, 2014 They also see no difference in value between an '88 turbo and an '89 turbo which is a load of balls Link to comment Share on other sites More sharing options...
Mac Posted January 23, 2014 Author Share Posted January 23, 2014 Here is their site in the US, it's a bit different: http://www.hagerty.com/valuationtools/HVT/VehicleSearch I'm sure market forces are different depending on location. Link to comment Share on other sites More sharing options...
angusb Posted January 24, 2014 Share Posted January 24, 2014 saw this on ebay,3.2 average miles,white,30k http://www.ebay.co.uk/itm/Porsche-911-/301046959078?pt=Automobiles_UK&hash=item4617cc0be6 Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now