Where are we in the early 911 appreciation curve...comparing to 356s.

Quote:

---

Originally Posted by uptheorg

Last night I caught the latest episode of Chasing Classic Cars with Wayne Carini.

---

you mean haggerty is awesome with wayne carini?

Excellent post.

I might add, the thinking was 4-6 years ago that money was flowing into cars because that was a safe place vs stocks, real estate etc. Hard assets. Now it seems that the thinking is that money that has been made in the markets is now flowing into cars at a very high velocity. It would seem that well off folks are feeling optimistic. (thank God)

I am not sure how this all ends (when the fed pulls back if the economy isn't able to make up the slack) but for the foreseeable future it seems that vintage cars (and lots of other stuff) will increase in value.

Quote:

---

Originally Posted by uptheorg

Last night I caught the latest episode of Chasing Classic Cars with Wayne Carini. He had two Mercedes at Amelia Island for the RM Auction and both of them set records. One of them was a 190SL that, if I recall correctly, were easily had in #2 condition for under $100k less than two years ago and this one went for $200k plus buyer's premium. They interviewed the buyer twice and both times he claimed the car would be worth over $300k in less than 10 years.

Then, this morning, on the way in to work, I hear on the radio that it is believed the strength in the stock market, which finished its best first quarter since 1999, is not due to boundless enthusiasm, but simply because investors have nowhere else to put their money.

So this led me to draw the conclusion that, at least for the very wealthy (for whom $200,000 is a tiny percentage of their portfolio), cars are a great investment opportunity, and now more than ever. The more of the wealthy that feel this way, the more robust the (high end) market will be. As we all know, it only takes two bidders to drive an auction price up -- there are a lot more bidders coming online because of the limits on portfolio diversification that exist at this time.

A couple of other ideas bear repeating in this context: they're not making any more of them and a rising tide affects all boats. I still believe cars are a very good investment for the future in spite of the "high" prices we are seeing now.

---

Quote:

---

Originally Posted by uptheorg

Last night I caught the latest episode of Chasing Classic Cars with Wayne Carini. He had two Mercedes at Amelia Island for the RM Auction and both of them set records. One of them was a 190SL that, if I recall correctly, were easily had in #2 condition for under $100k less than two years ago and this one went for $200k plus buyer's premium. They interviewed the buyer twice and both times he claimed the car would be worth over $300k in less than 10 years.

Then, this morning, on the way in to work, I hear on the radio that it is believed the strength in the stock market, which finished its best first quarter since 1999, is not due to boundless enthusiasm, but simply because investors have nowhere else to put their money.

So this led me to draw the conclusion that, at least for the very wealthy (for whom $200,000 is a tiny percentage of their portfolio), cars are a great investment opportunity, and now more than ever. The more of the wealthy that feel this way, the more robust the (high end) market will be. As we all know, it only takes two bidders to drive an auction price up -- there are a lot more bidders coming online because of the limits on portfolio diversification that exist at this time.

A couple of other ideas bear repeating in this context: they're not making any more of them and a rising tide affects all boats. I still believe cars are a very good investment for the future in spite of the "high" prices we are seeing now.

---

I'm pretty much in agreement with all of that. Lots of chatter I'm hearing from people connected to the Ferrari collector crowd that 911 prices are a bargain by comparison. So we may be getting a lift from the folks who can no longer buy their ideal marque.

Things are pretty weird out there right now. A buddy just put up a nice looking '71 T coupe for $36K and it's a color change car. A 911L I was looking at 3 months ago at $65K is now repriced at $85K. I have 4 cars in various stages of restoration and I'm very tempted to halt restoration on my numbers-matching '69 E coupe and sell it as a sort of "Revell kit:" restored and painted rolling shell with all parts to reassemble. In today's market that's a $30K car like that... :-0

Oh, and the recent issue of Road & Track is worth a value bump straight across the board for all 911s, IMO.

Excellent article:

http://www.bloomberg.com/news/2013-0...-old-one-.html


We're Gonna Put You in a Porsche. A Really Old Porsche.
By James Tarmy - May 7, 2013 5:27 PM PT

Facebook Share
Tweet
LinkedIn
Google +1
6 Comments
Print
QUEUE
Q

A pair of 1989 Porsche 911 Carrera 4's race down the highway. Photograph by Car Culture/Corbis

Common sense says don't buy a 25-year-old sports car. Oh, shut up, common sense. If it's a Porsche 911 Carrera built between 1984 and 1989, it's a reasonable purchase for a weekend driver, and Loot is going to prove it to you.

Most of the 911s from 1984 to 1989 with about 80,000 to 110,000 miles on the odometer sell for $17,000 to $25,000. And while that might seem like a lot of miles, "those are really bullet-proof Carreras," says John (Cheech) Fernandes of Rennwerk Porsche Technicians in Elmsford, New York. "They're the last of the simple Porsches." He notes, "Their air conditioning sucks." You've been warned.

Quote:

---

Originally Posted by Louie

Excellent article:

http://www.bloomberg.com/news/2013-0...-old-one-.html


We're Gonna Put You in a Porsche. A Really Old Porsche.
By James Tarmy - May 7, 2013 5:27 PM PT

Facebook Share
Tweet
LinkedIn
Google +1
6 Comments
Print
QUEUE
Q

A pair of 1989 Porsche 911 Carrera 4's race down the highway. Photograph by Car Culture/Corbis

Common sense says don't buy a 25-year-old sports car. Oh, shut up, common sense. If it's a Porsche 911 Carrera built between 1984 and 1989, it's a reasonable purchase for a weekend driver, and Loot is going to prove it to you.

Most of the 911s from 1984 to 1989 with about 80,000 to 110,000 miles on the odometer sell for $17,000 to $25,000. And while that might seem like a lot of miles, "those are really bullet-proof Carreras," says John (Cheech) Fernandes of Rennwerk Porsche Technicians in Elmsford, New York. "They're the last of the simple Porsches." He notes, "Their air conditioning sucks." You've been warned.

---

Good article. Never had to replace any "brake calibers" myself, but hey, their proofreaders aren't used to automotive topics.

Quote:

---

Originally Posted by Louie

Excellent article:
http://www.bloomberg.com/news/2013-0...-old-one-.html

---

They think 1989 is a really old Porsche?

Ha! Agree that these are great cars for daily use, but sure don't wanna frequent the shop they got service prices from.

Quote:

---

"Their air conditioning sucks." You've been warned.

---

Wusses. Live with one without any air conditioning. :rolleyes:

I like Peter Klute's show. (Legendary Motor Cars).
The "Grabber Blue" Boss 302 segment was pretty cool.
http://www.youtube.com/watch?v=J1SjL...layer_embedded

Tom

J curve lol Nice!!
http://www.hagerty.com/valuationtool...ort?vc=1251889

I'm not concerned at all with 356 values. Mine is fully insured for a market correct value in its current state. When done I expect to increase it.

The 356 is something you "get" or "don't get". I "get it". They are remarkable little cars. Just because everybody is chasing a 911 right now don't take your eye off of them.
They have languished before only to come back stronger. I sold my '64C sold for $23,500 around 1998. When the gentleman who bought it offered it up earlier last year he wanted $53,000 (and got it) Not bad for a "driver" and a decent return for 14 years ownership.
Nothing done to it for the time he owned it other than a good detailing and regular exercise. The engine was fresh when I sold it and the body was good. It was NOT a show car.

Tom

Quote:

---

Then, this morning, on the way in to work, I hear on the radio that it is believed the strength in the stock market, which finished its best first quarter since 1999, is not due to boundless enthusiasm, but simply because investors have nowhere else to put their money.

---

My father in law stated the same thing recently. He's been a financial advisor for over 50 years and deals in high net worth clients. People with money are now over exposed in securities, so hard assets of value are in increasingly short supply. Vintage cars, prestige real estate, you name it. Nervousness over gold and cash are exacerbating equity flight into hard assets, along with the added pressure of pent up buying power from the last downturn. A perfect storm.