How low will they go? | FerrariChat

How low will they go?

Discussion in 'Porsche' started by defros, Nov 1, 2008.

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  1. defros

    defros Karting Silver Subscribed

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    I was watching the carrera gt market for several years. Almost pulled the trigger on a few cars, but never did and saw the prices escalate over $400k. Now I am seeing many more cars being offered for sale, most with dramatic discounts over prices that were being asked only 4 months ago. With prices falling on all exotics, how low do you think the carrera gt will go?
     
  2. Simon^2

    Simon^2 F1 World Champ

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    at the bottom, price will start with a 2...
     
  3. 62 250 GTO

    62 250 GTO F1 Veteran

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    No way. not for a "low" miles car in near perfect shape? Can't ever happen... can it? If so I hope the world economy tanks... in a hurry... so I can buy two.
     
  4. Vector W8

    Vector W8 Formula Junior

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    Cars For Sale
    2005 Porsche Carrera GT $249,999


    Location: FLUSHING, New York
    (Google Map - Yahoo! Map)

    Email this to a Friend

    Seller Notes:
    PORSCHE: 2005 Carrera GT, yellow/black, suspension damage, salvage fixer-upper, runs, $249,999. PH: 954-322-9901, NY; for pics: alltypeauto.com $249,999

    Hey depending on how big of a mess you are willing to work with, the price is already there. :) DOH
     
  5. REMIX

    REMIX Two Time F1 World Champ

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    954 area code is Florida, not NY. Lauderdale to be exact.

    RMX
     
  6. defros

    defros Karting Silver Subscribed

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    For purposes of this discussion, lets keep it to clean cars with no stories. I know of several salvaged cars that have sold in the $150,000 range. I also have seen several cars in the last month that still have a 3 in front of the price, but are very close to having a 2 in front of the price.
     
  7. Simon^2

    Simon^2 F1 World Champ

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    Agree. That's what I intended. We'll see good cars listed with the price starting with a 2...
     
  8. coledoggy

    coledoggy Formula 3

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    welll hot digidy dog!! i hope they will be in the two's, will trade stradale and money for cgt!!
     
  9. defros

    defros Karting Silver Subscribed

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    The asking prices have not gone in the 2's yet, but the selling prices are there. A friend purchased a 7,000 mile car last week for $297,500. Looking at how many cars have become available and seeing how quickly the car market has declined, I would not be surprised to see cars being LISTED in the 2's within a few months. I think that the market will not be shooting up anytime soon and they will be in the $250k range in the very near future. Obviously colors like yellow and red will still demand a premium, but not much more. Happy I waited.
     
  10. Vector W8

    Vector W8 Formula Junior

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    Ad copied from Hemmings. I didnt add anything to it. I dont check ads for accuracy.
     
  11. joe sackey

    joe sackey Five Time F1 World Champ

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    Simon:

    You remember about 8 months ago when I advised that F40 prices would begin going backwards and dip below the $600k plus highs? Impossible they said, and I sure took some heat, but it was clear to me that even the iconic F40's elevated values would not be insulated from the serious recession some of us understood we had already entered.

    CGT prices will drop even below the "2" number within the year. Impossible, some will say.

    For those who remember, at the beginning of '73 Laffite Pincay jr thought it was impossible for Sham to be beat. A few weeks later Secretariat showed up...
     
  12. defros

    defros Karting Silver Subscribed

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  13. joe sackey

    joe sackey Five Time F1 World Champ

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  14. Simon^2

    Simon^2 F1 World Champ

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    How are you Joe? Thanks for your help with my F40 sale! Best wishes.
     
  15. joe sackey

    joe sackey Five Time F1 World Champ

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    Doing great! Even more busy, and spending more time helping collectors understand whats happening.
     
  16. amenasce

    amenasce Three Time F1 World Champ Silver Subscribed

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    A Carrera GT for low 200k ???
     
  17. James_Woods

    James_Woods F1 World Champ

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    Well, didn't the Jaguar XJ220 get a partly undeserved "worthless" label, and then finally start to be appreciated again within the past couple of years?

    I would be surprised to see worthwhile examples of the CGT under 250K anytime in the near future.
     
  18. 62 250 GTO

    62 250 GTO F1 Veteran

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    I don't think anyone said low $200,000.
     
  19. amenasce

    amenasce Three Time F1 World Champ Silver Subscribed

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    Post 11.
     
  20. RocketBoy

    RocketBoy Formula 3

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    XJ wasn't supposed to even be in the US, TWR stated so. Plus XJ wasn't all that was promised at first sight. Read a funny article that first v12 in the show car killed the room for a gas tank that could not hold more than enough gas to run for a few minutes, ( I think it was Classic Driver.) Personally love the CGT and don't remember it being advertised as the world beating car. Can not imagine CGT pirce going that low, I can see it happen, but feel very depressed if it did so. Would be in line with everyone else to buy an extra and would think the SLR would meet a even more rough fate.
     
  21. 62 250 GTO

    62 250 GTO F1 Veteran

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    That to me seems like a dream.
     
  22. 8 SNAKE

    8 SNAKE F1 Veteran

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    I believe they did...

     
  23. Mrpbody44

    Mrpbody44 F1 Veteran

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    History may not be kind to these cars. With a large number of them made and high maintence costs and possible support problems after 10 years prices will be going down hard on these cars.

    I really like these cars but they are the kind of thing that takes a big hit with the current bad economy.
     
  24. joe sackey

    joe sackey Five Time F1 World Champ

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    Can you imagine when these things are 20 years old, all the maintenance costs for electronic & mechanical ancillaries? Yikes.
     
  25. Mrpbody44

    Mrpbody44 F1 Veteran

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    Can you imagine when these things are 20 years old, all the maintenance costs for electronic & mechanical ancillaries? Yikes.

    These costs will be factored in by the market and adjust the value lower as it does with a modern S class Mercedes that is out of warranty. With these cars we may be talking about $10,000 to $15,000 control module as a part becomes scarce. Reverse engineering costs for the part may be $40,000 or more.
     

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