Hello, I'm new.
Good Day! New to the 997 arena. Actually I am an Alfa Romeo guy. I am a one owner 72 GTV but, thinking seriously of letting go of my nicely appreciated coupe for a 997 4S. Does anyone know this car? https://www.hemmings.com/classifieds/dealer/porsche/997/2132764.html Seems a bit overpriced compared to what I have seen elsewhere but, the mileage is quite low. Any feedback would be greatly appreciated. Regards, David |
Originally Posted by dlbehrns
(Post 4741881)
Good Day! New to the 997 arena. Actually I am an Alfa Romeo guy. I am a one owner 72 GTV but, thinking seriously of letting go of my nicely appreciated coupe for a 997 4S. Does anyone know this car? https://www.hemmings.com/classifieds...7/2132764.html Seems a bit overpriced compared to what I have seen elsewhere but, the mileage is quite low. Any feedback would be greatly appreciated. Regards, David |
I find cargraphs.com useful for understanding pricing, especially versus milage: https://cargraph.com/usa/porsche/911/2010
Porsches depreciate at around $0.50/ mile. (Broad statement here. They depreciate faster with lower miles, slower with higher miles; and at different rates depending on initial price. But as a very rough guide: $0.5/mile.) So when you are looking at a car with only 8K miles, compared to cars with $48K miles, the depreciation difference alone will be on the order of $20K. |
Originally Posted by paulfdunn
(Post 4742117)
I find cargraphs.com useful for understanding pricing, especially versus milage: https://cargraph.com/usa/porsche/911/2010
Porsches depreciate at around $0.50/ mile. (Broad statement here. They depreciate faster with lower miles, slower with higher miles; and at different rates depending on initial price. But as a very rough guide: $0.5/mile.) So when you are looking at a car with only 8K miles, compared to cars with $48K miles, the depreciation difference alone will be on the order of $20K. |
Very low miles and 6 speed manual transmission. If your pocket book fits. That’s a great ride and price.
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Originally Posted by sandwedge
(Post 4742304)
Sure wish that was a good reference. Doesn't compute on my current car though or on my previous 997's either for that matter. My GTS had an original sticker of $118,000. It has 58,000 miles on the clock now so at 50 cents a mile that would only take $29,000 off the sticker resulting in a current value of $89,000. Actual value of my GTS seems to be somewhere in the $65,000 to $70,000 zone which brings the depreciation number closer to $0.90/mile than to $0.50/mile.
So if you are looking at car A at it has 20K miles, and car B (same year/model/trim) has 30K miles, car B should cost about $5K less, just based on the fact it has more milage. And higher milage cars are worth less at a rate of about $0.5/mile. Again, the rate is more for lower milage cars and less for higher milage cars. |
Originally Posted by paulfdunn
(Post 4742333)
I was NOT saying that $0.5/mile predicts value/price. I was saying that is the slope of the regression line for cars of the same year/model/trim. I.E. draw a graph of asking price for a bunch of cars of the same year/model/trim, but of different milage, price on the Y axis and milage on the X axis. Note that prices are not random; they decrease with milage. The slope of that line is roughly $0.5/mile.
So if you are looking at car A at it has 20K miles, and car B (same year/model/trim) has 30K miles, car B should cost about $5K less, just based on the fact it has more milage. And higher milage cars are worth less at a rate of about $0.5/mile. Again, the rate is more for lower milage cars and less for higher milage cars. Realize it's not an exact science. Was just going by this summary of yours: "But as a very rough guide: $0.5/mile." Again, this is based on the three 997's I've owned and that number seems to be closer to about $0.90/mile, at least around the 40,000 to 50,000 mile point. I'm sure that number drops as the miles pile on but where does it drop to $0.50/mile and doesn't it start to increase again at some point? A 997 with 150,000 miles or more is a tough sell to a lot of customers unless very cheap. |
I think you are not understanding the point regarding "slope".
I am not saying that if you bought a car that was worth $100K, and drove it 20K miles, that it would be worth $90K ($100K - (20K miles * $0.5/mile)) What I am saying (see chart below) is that when comparing cars of different milage, they differ by around $0.5/mile. Note the red line below, the slope is: ($70K-$50K)/(50Kmiles - 10Kmiles) = $0.5/mile. (The line below was not an actual regression fit, but placed to make the calculation easy and work out to exactly $0.5/mile). And, accordingly, a higher milage car should never be worth more than a comparable lower milage car. I brought this up because the OP was saying the price seemed high, but maybe that was due to low milage. Thus I was suggesting a way to normalize for milage differences between otherwise comparable cars. https://cimg1.ibsrv.net/gimg/www.6sp...20db3b9a2.jpeg |
Originally Posted by paulfdunn
(Post 4742548)
I think you are not understanding the point regarding "slope".
I am not saying that if you bought a car that was worth $100K, and drove it 20K miles, that it would be worth $90K ($100K - (20K miles * $0.5/mile)) What I am saying (see chart below) is that when comparing cars of different milage, they differ by around $0.5/mile. Note the red line below, the slope is: ($70K-$50K)/(50Kmiles - 10Kmiles) = $0.5/mile. (The line below was not an actual regression fit, but placed to make the calculation easy and work out to exactly $0.5/mile). And, accordingly, a higher milage car should never be worth more than a comparable lower milage car. I brought this up because the OP was saying the price seemed high, but maybe that was due to low milage. Thus I was suggesting a way to normalize for milage differences between otherwise comparable cars. https://cimg1.ibsrv.net/gimg/www.6sp...20db3b9a2.jpeg I understand your slope and your reasoning. What I don't understand is the one yellow dot at $100,000 for a car with what looks like about 27,000 miles when everything else with roughly the same mileage is clustered around $60,000. |
I believe that is a great car for a very good price. Finding a beautiful 997.2 4S 6 speed coupe is not as easy as one might think. I own one and if I were to sell it, I would advertise it for $70K. Mine has PSE and the Turbo wheels.
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Thanks much for the informative posts. Question to myself is, am I willing to let go of my Alfa? You wouldn't think there would be such an attachment.............
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I forgot to ask: Is there anyone around the New Hyde Park, NY(east of Queens and south of the LIE) area that y'all know of that can be trusted to do a PPI? thanks again.
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Anybody? I heard one suggestion was to have the local Porsche dealership inspect the car. That sounds like letting the fox into the hen house. Don't think I want to go there. I would appreciate any feedback from anyone in the Long Island NY area. TIA.
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Originally Posted by dlbehrns
(Post 4744050)
Anybody? I heard one suggestion was to have the local Porsche dealership inspect the car. That sounds like letting the fox into the hen house. Don't think I want to go there. I would appreciate any feedback from anyone in the Long Island NY area. TIA.
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