Year: 2024
Make: Porsche
Model: 911
Price: $100
Mileage: 12345
Color: blue
Private or Dealer Listing: Private Listing
Location (State): AL

A customer of mine was asking for advice or purchasing during these high times. My best advice is to wait along the sidelines, the hysteria is already starting to slow as the most desirable Pcars have peaked in price. I know of several sellers who really aren't sellers but WINDOW SHOPPERS. Many have put prices on their cars they never thought they would see, but if someone was willing to money up they would let it go. As sellers need to get liquid prices will really start to correct to pre-covid times. Did anyone notice the craziness at the Scotttsdale BJ Auction, there is no way that buyers are ever going to get close to their investments. Where was all this $$$ coming from did everyone's rich uncle die and leave them a trust fund. Just my two cents, but keep your powder dry, changes are coming.

 

Newer , common porsches , yes the bubble will pop soon.
Ie: cayenne , macan, non GT 911s

But for older 911s 997 and older, I don't think prices will be coming down

Just my .02

 

I paid top of the market for my 930, 993, and 997 TT with a 6 speed. All three cars went up in value while I owned them, and I sold the first two for a profit. I expect to do the same for my 997tt. All are best of the breed examples. I drove and enjoyed all of them. Air cooled stuff does not look like it will fall off anytime soon. As a result money is chasing the water cooled stuff, particularly the Metzger cars. How long does your customer wish to wait, and how long does he/she plan ownership? May be a good idea to get on the “crazy train” enjoy the car and sell at an appropriate time to the next participant.

 

Singer and Gunther are raking big time with the explosion of air cooled Porsches I can't even afford them in my dreams

 

Agree. Prices will continue up and will hold. You want a 997 or older better buy soon!

 

Prices will find a new "normal" but they won't be going back to pre-covid levels. That ship is long gone, unless a major incident or long term downturn somehow appears. We're in a high inflation environment and the consumer has proved they are ok with these prices. As for where the money came from - savings accounts were at a 40 year high coming out of 1-1.5 years of covid lockdown, retail traders ringing in the cash register, labor shortages allowing folks to go find jobs that pay more...list goes on.

 

Buy now or pay more. Prices are not going down. New cars being sold at premium plus lack of available quality used is Supporting this market.

My car is not for sale but a mint example and I’ve never had more interest from people that want to buy it. Some offers are quite tempting but I’m emotionally attached for the time being.

 

with the majority of money creation happening in the last two years, collectable hard assets will remain valuable. average car prices will level out and we will see if the majority of sport cars will hold excluding GT2/3 and any of those higher end cars

 

I bought my personal car in Sept of 2020. I don't ever see this car going down in value really.

2008 Carrera 4S in Slate Grey with Aero Kit, manual, and $114k build sheet.

I don't ever plan on selling it unless I can get a similar car in a PTS color.

Low mileage 997s are getting fewer and fewer these days. Mine has 29k on the clock.

 

And with the latest ocean tragedy didn't help the situation

 

I know GT3 RS prices went up real high but if you look online there are so many for sale. I don't think 2016 are fetching the 210k + anymore they seem to be just sitting there.

 

Agree with OP. As with most assets, prices of cars, new and used alike, have gone through the roof by a recent acceleration of M2 money expansion, added to a an excessive platform of QE (money printing) since 2008. Ditching traditional economic fundamentals such as sound fiscal and monetary policy may result in short term euphoria, but will end with a major hangover. Couple that to a lot of financially illiterate people running out and spending money on credit will obviously have devastating results. Similar to 2008, where the effects were largely contained to the real estate market, I will have no compassion buying stuff for cheap of off those suckers. Most probably there will be some good buying opportunities ahead at the lower end of the housing market and low to medium priced vehicles (pick up trucks, etc..). High end cars, with the exception of special editions, should also see a correction, albeit less so. Having said that, in my 30 years as a finance professional I have never seen a bubble of these proportions, so this is going to get interesting.

 

Can you predict the date at which the bubble starts to really burst? (asking with a lot of cash waiting for a home and sportscar )

My parents live in Bend for the summers. Beautiful town.

 

Interest has been near zero for years. Should have bought one already and let that cash grow. Use other people's money. Buy what you want now. Why wait?

 

A lot of hopeful optimism in this thread from people who have already blown their wad. Including a couple of comments such as “I bought at the top of the market” followed by “values went up during my ownership”. Well then you didn’t buy at the top of the market, did you?

Most relevant comment in my opinion is the wealth/money creation during the last few years. It appears to be vast. Manufacturers long term won’t tolerate these dealer markups and will just raise prices to capture that money for themselves rather than letting their franchised dealers take huge gains for doing (essentially) no work.

There’s a strong argument for getting in now before things go higher but an equally strong argument for keeping your powder dry for the inevitable correction. Anyone claiming they know what’s going to happen should be regarded with skepticism.