The market reset is official. (IMHO)

[beh911]

I would not have paid 100k for that car, the price it sat at until the final day of the auction.

To each his own

[Unobtanium-inc]

but you never know if it is already the worst time

It's definitely a better time to buy now than it was 3 years ago. Prices across the board are down for all but the very best cars, 356's and 911's. I too hope most people get the memo this year because in 2019 those of us in the business knew the score, but individual sellers were behind the curve, and most are probably still looking at their cars. We bought very few cars in 2019 because of this. It worked out ok, I was able to clear a lot of the deadwood out of the lot, and if a car has been sitting there for 10 years, it's pure profit when you sell it. 2020 is shaping up to be a good year, based on calls I've been getting.

---Adam

[ibmiked]

I would not have paid 100k for that car, the price it sat at until the final day of the auction.

To each his own

Interesting. I haven't seen any driver quality '67Ss that were this nice for less than $100k. Perhaps not everyone reading this thread is aware that it came with the correct numbers-matching engine and transmission as well as the current set up in the car. It also had a decent stash of parts that were included and the all important (to me at least) sport seats.

Does it need 4.5" Fuchs? Sure if you don't intend to drive it with the 2.5L or in anger with the original engine.
Did it need a rearview mirror? Yep, but they can be sourced if you need one.
Were there a few small details that needed to be corrected? For sure.
Was it a concours paint job? No, but it wasn't a 10 footer either.

All I'm saying is that it's a very nice car if you wanted a sorted, driver '67S. They haven't been thick on the ground these past few years at this price and in this condition. For further proof that the market has 'reset', look at the honest-appearing '67S that struggled some weeks ago to sell at considerably less and with potentially many more cosmetic needs. I know for a fact that it didn't sell at the $130k ask, something that would have been unheard of 2-3 years ago;

http://forums.pelicanparts.com/porsc...ack-black.html

[50/50]

What goes up , can come down and the market is down.
You are whistling past the boneyard if you are in denial,
And if your car was part of your retirement plan, the finish line has been moved,
What has not gone down is the cost to build an engine, do metalwork, paint, upholster, parts,etc. Missing a mirror ,alloys, stickers, tool kit,...BFD.
Drive it, enjoy it, guilt free. if you want to go original you have a good base.
If a flipper bought it ,sell the motor , seats and alloys.
Well purchased.

[Unobtanium-inc]

What goes up , can come down and the market is down.
You are whistling past the boneyard if you are in denial,
And if your car was part of your retirement plan, the finish line has been moved,
What has not gone down is the cost to build an engine, do metalwork, paint, upholster, parts,etc. Missing a mirror ,alloys, stickers, tool kit,...BFD.
Drive it, enjoy it, guilt free. if you want to go original you have a good base.
If a flipper bought it ,sell the motor , seats and alloys.
Well purchased.

Parts have gone down on a few high dollar items. Things like core sport seats are not bringing insane money now that there are several repro alternatives. Same with 356's, stuff like Rudge wheels are not insane, too bad I bought all mine at the height of the market....
But overall parts prices are holding steady, our parts sales were actually up last year compared to 2018.

The only people who get hurt when the market corrects are the flippers who buy on very thin margins banking that the market will always go up, it won't. The other people who get hurt are the ones who even during the height of the market, want to beat the market. I see cars that have been overpriced for 3 years, and while the price was a chuckle 3 years ago, it's downright offensive now.
Personally, I don't like holding inventory, get it, sell it, unless the market is horrible, then put it away and focus on something else. Right now I've got a whole row of 912's in the yard, they are bringing turd money right now, so they sit. We did the same thing after the 911 market crashed in 2007-2008, we had a whole yard of ok early 911's. We were moving about this time so I took all those cars, shoved them in the old building and locked the door. I brought them out during the high a couple of years ago, it worked out well. But you have to have a place to store them for that time, so it's not a strategy that works for everyone.

---Adam

[Silverbullit]

Thought this was a nice car, and well bought. (IMO). Sold my 67S a year ago for $185. Restored to a high level, stock, with a non-match '67S engine and '68 trans, 5 1/2s. Got beat up pretty hard for the non-match drivetrain, like 30k. Would that have made it worth $215?
As noted, here's a car that could be brought more to original with correct engine/trans for the cost of the spare (perhaps). So a nice, number matching car for 150 seems to be around a 30% drop by these examples. Sure, some wiggle room in the comparison, etc, but still....

[Fubawu]

Don't forget it was $155k with fees. On top of that it was a semi hotrod build and many buyers of a 67S want a pure car. Most don't want to have to
swap the engine , build the other etc. $155k is decent money especially considering the time of year.

[brookedale091462]

I agree.Although I think that outside of the auctions the reset was two-three years ago. In April 2016 I bought my 667S for 110k. It needed the rebuild and install of the matching engine and a few other items, so that put me about where this 67S sold on Bat.

I agree with you and think it's been reset for a while now... now I wish someone would inform the 356 sellers of that fact ;-)

[raspy2point2]

I agree--people that are paying this kind of money want turn key. Ones I can sort of compare Smedley's Champagne Yellow hot rod 67S sold for $217,000 about a year ago. Also a 1970 freshly painted Albert blue 911S with a fresh engine sold last summer for $175,000. Chris

[ibmiked]

I agree--people that are paying this kind of money want turn key. Ones I can sort of compare Smedley's Champagne Yellow hot rod 67S sold for $217,000 about a year ago. Also a 1970 freshly painted Albert blue 911S with a fresh engine sold last summer for $175,000. Chris

I didn't know that Smedley's car sold. Was it posted anywhere online or was it a private sale? I always admired that car and would like to see more detailed pictures if anyone can point me to them.