Excellence Mag- There They Go Again!

[garygrasso]

Hey guys-
Have you seen the latest early 911 market update in Excellence? While acknowledging that prices have been appreciating at red-hot levels, they value a '73 911S Targa IN EXCELLENT CONDITION at $32,000.00!
How many will you take for that price? That's the price for an excellent 911T..
Who is reporting these prices?
I recently bought my 73 911S and as I'm sure you've guessed, I paid over that amount and I still believe that I got a good deal, especially for an original silver car, one repaint except for door jambs, sport seats, air conditioning, not a crack in the dash, steel front spoiler, limited slip, 86,000 documented miles, a complete engine & MFI rebuild, etc, etc. While I was looking, I NEVER saw an excellent condition 72 or 73 S for anything less than the mid to high $40's, more often $50K and up.....
What value would you place on a car like this?
$45K? $50K? $55K? 65K? $70K?

[garygrasso]

Well, after ranting about the new Excellence prices, the next thing I did was to look down the list of posts, where I saw that the issue was already discussed ...never mind! (Unless you still feel like ranting, then go ahead...)

[pu911rsr]

Gary,
I don't know where Bruce get his data but the "databases" that I know of Excellence, PCA and PML all suffer from the same problems
1. Limited data points - not many of these cars change hands, I don't know how these people validate the real sale price and I don't think they get visibility into private transactions where most of the very very nice cars get sold.
2. Huge range of prices - taking averages of prices is completely meaningless when an car could sell from 5$ - 75$ depending on particulars. Need a different type of analysis to make sense of this kind of data.
3. Historical data not very a very good predictor when prices are moving quickly up or down. Looking at historical data when prices are appreciating the way we all know they are can be very misleading.
Even given all the insanity 911's are still a very reasonably priced collectable car, I think the rest of world is figuring out what all of have known for years.
Phil

[Scott Clarke]

Gary-
Please report your transaction to Excelence. Their data comes from readers.
-Scott

[hdavis]

Even given all the insanity 911's are still a very reasonably priced collectable car, I think the rest of world is figuring out what all of have known for years.

I was watching the Barrett-Jackson auction on TV last night and saw Super Bees and and other Hemi cars change hands for well over $100,000. A 1969 Camaro (Z28 I believe) original, very low milage went for $200,000.

How many of you would trade your 911 S for a 1969 Camaro?

[garygrasso]

Scott-
Good idea about reporting sale prices to the magazine- I'll do it today.
I'll probably raise my insurance limits yet again. Everything I've seen in a high-quality 72 or 73 S has been priced at a minimum of 45K and goes up from there...more often in the $50's and $60's..........Now, are the cream of the crop cars actually selling at those prices? There was an aubergine 73S coupe for sale here and on ebay a few months ago.....I was the high bidder on ebay at 45K, and the auction had just started....Then the seller pulled the plug, said he had several offers in the high $50's and was deciding whether to sell or hold....I think that if you have a really good stock example, no color change, you can name your price within some sort of reason....it's not like someone can easily go down the street and even find a well-sorted early S in the first place.......I looked for five years straight, increasingly willing to pay higher and higher prices and I still couldn't find a good car - anytime there is a good car, it is snapped up PRONTO.......well, enough ranting for now....

[tfiv]

I've mentioned this before here. But the cars we love are inexpensive relative to much of the collector car market these days. $50K will buy you a tarted up Chrysler with mags and a chome air cleaner.

[creator8]

I've sent in my recent S purchase too. Though I'm not keen on putting it out there, I guess it makes sense for future value. And I definitely payed more than $32k.

[dhopkins]

Here is the data from SCM:

YR Hi Bid Date Sold? Condition Opinion on price by SCM
1969 $19,400 2005 N 3- correct price
1971 47,898 2005 N 2+ price should have been enough
1970 16,538 2003 Y 3+ decent given condition
1971 24,300 2003 Y 1- no opinion on price given
1968 28,050 2000 Y 3+ no bargain at over 2x bookvalue
1970 20,000 2000 N 1- fair offer; could have sold
1967 21,850 1998 Y 2- good value
1969 10,700 1998 Y 3- right price
1973 20,865 1998 Y 3+ should have gotten only $15k
1973 15,855 1998 Y 3+ strong but fair price


What do you think?

[pwd72s]

I was watching the Barrett-Jackson auction on TV last night and saw Super Bees and and other Hemi cars change hands for well over $100,000. A 1969 Camaro (Z28 I believe) original, very low milage went for $200,000.

How many of you would trade your 911 S for a 1969 Camaro?

Me, if the condition of the Camaro was equally spot on...and it were a true Z-28 But then, my roots are muscle car. I can remember how much fun they can be.