I am new here and this is NOT an ad. My father, who's hitting 82, has decided he needs to get rid of his Porsche. He want's to give it to me, but we first need to establish a value for this as a gift.

The complicated part is the condition of the car, which is a 1998 Carrera S. It's absolutely spectacular, a silver car with full leather and -- get this -- 3,400 miles! The car is started regularly and driven on short trips and is genuinely indistinguishable from new. No chips, no scratches, always garaged, etc..

So, it's hard to arrive at a realistic estimate for the actual market value of what this would bring if he sold it, instead of giving it to me.

A side issue is that I'm 6'7" tall and would need to change or modify the driver's seat to fit. Any advice on that would also be greatly appreciated!

Thanks (in advance) for help on this...

 

It's hard to get an actual market price for this car, as there are very few cars this age with so few miles. You might check TruSpeed and Wilhoit for comps.

I'd suggest that the car would fetch at least in the $60K-$70K range.

 

Thanks, goofball, for the input. Those both look like excellent places to start...

 

If he is actually going to go through the gift tax/exemption procedure, the IRS requires an appraisal from a certified appraiser for high value items.

 

In OK, we just do a "family transfer" , ten bucks, at the DMV. Done deal. Who else needs to know?

 

2nd the family transfer

 

Thanks for the input!

I am trying to figure out the details on this. First, I live in CA and the car is registered in another state. Though CA does allow inter-family transfers, typically the car is already registered in CA.

Second, CA typically requires out-of-state cars to have 7,500 miles upon registration; they are trying to discourage people from going to Oregon to buy their cars.

I'm going to ask the DMV for an opinion on how to handle this.

 

The value is somewhere around $1,000, but I'll take it off your hands for $1,500 because I'm such a nice guy

Kidding aside, sounds pretty awesome.

 

+1 agreed

 

Thanks for all the input; I appreciate the advice!

Does anyone have any ideas regarding the fit issue (last part of my initial question)? I'm 6'7" tall and need to install a different seat to fit. Basically, I think I need another inch (minimum) of headroom and 1-2 inches of leg room.

Any thoughts? I am in the Bay Area just north of San Francisco, and I know there are a couple of shops here (The Racer's Group, S-car-go) that specialize in Porsche...