Market Values

[jaudette3]

I know we talk about this a lot, but there are at least two aspects of current market values that puzzles me a lot. Most Porsches are flat on their backs (I know, I know, exceptional cars are holding their value - yada, yada, yada), including early 911's, middle 911's and late 911's (I saw a *nice* low miles 997 the other day for low 40's). I mean really flat on their backs with legs barely fluttering.

Except for 356's.

The 356 market is a little soft but cars haven't decreased in value nearly as much as early 911's. And they sell quickly, unlike other Porsches. Are they all owned by old retired guys who are simply unaffected by this lousy econmy? Maybe it's actually a cult of some kind. I know many here own both early 911's and 356's - love to hear your observations.

The second thing that puzzles me is why the Europeans aren't more active buyers. It now takes a buck fifty to buy a Euro and one would think that a 35% discount would have them buying more actively, even considering their own lousy economy. Would love to hear from our friends in Europe.

Cheers,
JohnA

[66S]

I like my 356 so much that I wonder why I am spending so much time and energy restoring my 911's. If I could have just one Porsche it would be a 356, preferably a convertible. I may change mind when I drive my 67 911S Ive been hearing of Europeans buying up numbers of project or unfinished cars to beat import duties.

[BBausser]

Owning both a 356 and early 911's is like Howling Wolf's "I'm (356) built for comfort not for speed" (911). I think pure driving pleasure is obtained so much easier in a 356 wheras adrenaline, living on the edge, and thrills are available in just minutes in an early 911. Of course I'm an old retired guy but I think the economy affects us all. I think and always have thought that it's better to do the things you want to do rather than spend your days wishing that you had done what you wanted to do but never did. You might end up broke but you will have some real tales to tell.

[pu911rsr]

John,
I just sold a 73 S on ebay, from where I sit I think the market is OK. I did field a lot of inquiries from Euro buyers but only mostly from bargin hunters. I don't see much price correlation between later model cars, which are very cheap and collectable ones which are holding up better.
Phil

[jloucks388]

My theory: Every generation identifies predominately with a particular make and model. Could it be that the 356 demand is being pushed by enthusiasts who are taking advantage of the benefits of retirement? If this theory makes any sense, then in 10 or so years the 911 long hoods will have their day. Buy low, sell high.

[BBausser]

There might be something to that. I had several 356's in the 70's and had not driven or had road in one since 1980 until a couple of years ago when I bought my Little B Coupe. I knew when I shifted from 2nd to third that I was going to buy it. It was a euphoric moment "I'm home again baby, I'm home!"

Bill

[gsjohnson]

Euro buyers: My 996 just sold to a guy in Norway.

[Ghost Chaser]

I've noticed the same thing, especially with Speedsters. They are holding steady at very high prices, especially compared to what they were selling at just under three years ago. Could they be the collectors' market version of the defensive stock? I also have a hunch the longhoods will become the new 356s, so to speak. The best hedge is to have one of each and wait and see.

In the EC countries cars being imported from non-EC countries are heavily taxed. In France, for example, I believe they have to pay something like 18% VAT on top of everything else. This is why they are looking for bargains, as the currency advantage gets flattened out by the import costs.

[EARLY911ZOO]

I just sold a 72 E on Ebay within 2 hours and in the next 3 hours there were 5 more who were crying they hadnt acted fast enough , asking if I had any others.
I think that's a sign that they are actively back in the market.
a day later 3 more emails from Europe asking if the sale was valid and to contact them should it fall through.
I know you must be thinking it was a bargain but it was average in price and although a great car to use as-is for some time, it needed paint, interior and general overhauling to bring it back.( you could say that it falls in the category of project or cars that need resto.)
even at the height of the resurgence of the early 911 a couple of years ago, when prices were at their best in years, I did not get this dynamic of buyers offering to be a back-up buyer.

At any rate, this market is very unpredictable.
as for 356, it seems that those cars have a higher rate of "sold" in the completed research than not. A preliminary search, shows that almost every 356 had the price in green, indicating as sold vs early 911's not finding a buyer for about half the listings.
mind you this is only a slice or partial sampling, this is subject to change from month to month.

[EARLY911ZOO]

BTW my German customer indicated that his tax on the car was going to be only 6%, could this be right?

seems low but if indeed correct, it maybe that Germany is easing up on heavy taxes for importing collectible cars.... may have to do with the fact that it is a German car coming back home??