The sound of crickets right now with collector Porsche acquisition?
It seems lately buyers hold their breath just prior to the flagship auctions.
The sound of crickets right now with collector Porsche acquisition?
It seems lately buyers hold their breath just prior to the flagship auctions.
I just received the Gooding auction guide in the mail. For something significant (I assume you are implying a downturn?) to happen in the Porsche world it would also have to happen simultaneously to several other marques. Otherwise everything gets out of balance. Yes, we have seen a huge run up in our little corner of the automotive world and its made some main stream press, but in the big picture of what Gooding has for sale and the expected sales ranges they predict, our little P-cars are very middle of the road offerings. Lots of marques expected to go much higher, only a few for less.
Examples:
1962 Austin Healey: $150-$180k
1964 Ferrari 330 GT 2+2: $250-$350k
1964 Shelby 289: $900k-$1.2mm
1974 Ferrari Dino 246GTS: $425k-$500k
1957 Mercedes 300SL: $1.4mm-$1.7mm
1967 Mazda Cosmo 110 Sport: $200-$250k
I could go on and on with the prices expected for Alfa Romeos, BMWs, Lamborghinis, Lancias, Jaguars, Maseratis, Aston Martins, Duesenbergs, Gt40's, etc etc, but its all the same.
I think the real question we should be asking is, given their rarity, performance, timeless styling etc, why has it taken so long for early 911's to join this group?
But in the end, the buyers will decide. Yes, it will be interesting.
The one that really gets me is the Austin Healy,,,,I remember when the decimal came right after the zero!
Early S Registry member #90
R Gruppe member #138
Fort Worth Tx.
I've been a Healey guy for a long time. I think that number is pure fantasy. I guess we'll see.Originally Posted by edmayo
I thought it was just us. But no, all old cars are WAY up in perceived value in these auctions. We will see if this holds water.Chris
- Chris-Early S Registry#205
- '70 911S Tangerine
- '68 911L Euro Ossi Blue
I couldn't even get 100k for my 330GT a few years ago. The expected sale prices seem somewhat optimistic across the board to me.
I think you said it right with buyers holding their breath prior to the Monterey auctions. I think they've pretty much been in that mode all summer. Unless something spectacular happens--good or bad--in Monterey, I think prices will remain stagnant at best. There have been a lot of very nice cars that hit the market over the past few months that generated very little interest unless they were a real deal. At some point, the people that just had to have an early 911 will have bought theirs. When that happens (and I think we might be there right now), the early 911 market will resemble other mature markets with buyers and sellers moving much more slowly. I think we had to get here eventually; the frenzy was unsustainable. The real question is what happens next?
The auctions will probably sell the early Porsches for a ton of money. Then every Tom, Dick and Harry will think their not so great cars are worth the same money. Saw one car offered for sale in January for 165K it never sold at that price. Now with the feeding frenzy coming the same car is for sale at 200K. It's a crazy market right now.
I guess it's time to finish the restoration on my 57 100-6........as if I didn't have enough to do already!!!
This working stuff really gets in the way of a hobby way out of control.
Registry #1777
How does one square this thread with the results of the Artcurial Le Mans Classic auction held just earlier this month? Some very strong results there across many marques. $190K for a Fiat Dino Spider, $1.5MM 300SL Roadster, $260K 911 Speedster, $785K RS and so on. Seems like a healthy and active market to me.
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