Question for the braintrust | FerrariChat

Question for the braintrust

Discussion in 'Porsche' started by Chupacabra, Jul 10, 2022.

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  1. Chupacabra

    Chupacabra F1 Rookie
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    Very simple - would you buy a 993 right now for, let's say...$120-150k? Assuming perfect mechanicals and near perfect cosmetics. Up to date services and tires, etc. C2 coupes only, standard colors and typical options.

    I won't go all into my reason for posting the question until later. I'm curious what the opinions are.
     
  2. Gh21631

    Gh21631 F1 Veteran
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    I would only consider the abolsute best example of a C4S at that price range. Its all hype, they just aren't worth it. Better buying a 99.1 GT3 or any other later model in that price range.
     
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  3. donv

    donv Two Time F1 World Champ
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  4. Chupacabra

    Chupacabra F1 Rookie
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    Ha!

    I was following this car, but I would most certainly NOT pay $82+ auction fees+shipping+chain box repairs for a car with unknown actual mileage reading 114,000...but BAT seems to exist somewhere outside of reality.

    I did, however locate a car that is serviced, much less than half the mileage and in a color combo I love (Arena/Tan) for about $20k more than that auction result.

    I should mention that I'm not really into 911s beyond the 997 except for the (GT3 Touring) and the 993 is likely my favorite car that I have owned. I'm not all that concerned about speed. So to me, they're worth some premium...but the last thing I want to do right now is buy high and then have the market take a dump, because as much as I love 993s, I HATE losing money unless of course it is a part of normal depreciation.

    Appreciate the opinions!
     
  5. Shorn355

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    Anything around $80k for a nice (with proper maintenance and verified carfax/mileage) normal 993 C2 FROM A DEALER OR PROPER GREY MARKET DEALER FAMILIAR WITH/SPECIALIZING IN PORSCHE <not "BAT"> is a good spend and fabulous car.

    Closer to/above 6 figures needs to be a C4S- mid 6 figures needs to be a turbo.

    Cheers :cool:
     
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  6. M. Brandon Motorcars

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    If you want the final iteration of the air-cooled 911... that's the market today for a good one. You can't compare a 993 to a modern 911.
     
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  7. Chupacabra

    Chupacabra F1 Rookie
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    As indicated above, I agree. They are special cars and are certainly valuable to me. _Overpaying_ in what I think (admittedly, I’m not always right) is an unsustainable market is not something I’m interested in, though. So I’m mostly interested in how people are viewing such a purchase at present. I’m mainly concerned with cars that are in fantastic shape but not low mileage garage queens. Cars that hold their value but are able to be driven (not into the ground mind you) and enjoyed - anything else is worthless to me.
     
  8. Shorn355

    Shorn355 F1 Veteran
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    Here is my thought FWIW on "overpayment" of something that is being impacted by the market and/or supply and demand - whether it be cars or watches (both currently impacted).

    If you are buying out of passion and desire then overpaying is fine but don't pretend you are buying from a financial/investment perspective - Simply come to grips with the fact that "I want XX and can afford XX and know that I am going to pay more to obtain XX now versus later". So if you WANT a 993 (or Rolex Daytona for example) NOW then find and buy the best example you can buy that fits your wants/needs and realize that you are buying out of passion - nothing wrong with that.

    If you are buying with an investment mindset then wait until the market calms down and 993s are back to sane prices where you will at least be flat if not possibly some appreciation but not a lot when you factor in maintenance/run costs. Same with the Rolex - build a relationship with an AD and get on the list - you will pay MSRP and nothing more and will never lose a dime on the watch - but you won't retire on it either.

    There is no sin in paying a high price to obtain something desirable sooner rather than later or due to finding "the one" but that decision needs to be made out of passion and desire - not the hope/promise of financial gain or stability.

    Just my .02 - Cheers :)
     
  9. Bullfighter

    Bullfighter Two Time F1 World Champ
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    $150K… no
    $120K… probably, for the right car, right colors, right history.

    I paid north of $90K last year for a one-owner, no stories 1993 964 coupe. It felt overpriced, but there were only about 520 sent to the U.S. to begin with, and I liked the slate grey and factory Cup 1 wheels, and the later 964s are scarcer and improved over the early ones. There’s nothing else that has come up for sale since then at a lower price that would cause me to have second thoughts. This was a great spec, so I bought it. I may never sell it. I was originally looking for another 993, but this car came along and it was too perfect for me to pass.

    My opinion is that a “must have” 993, one that you feel checks all the boxes, is worth stretching a bit to buy. Owners tend to hang onto these cars, so the buying opportunities aren’t endless.

    But we don’t have a crystal ball, and Porsche isn’t making any more air-cooled 911s. You could wait 5 years and maybe prices will settle, or maybe not. But we will all be 5 years older…




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  10. Chupacabra

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    I hear ya!

    Its really not an investment scenario for me; rather, I don’t want to spend $120k and in six months realize I could have kept my pants on and picked it up for $80k.

    I _think_ it’s clear prices will come down and perhaps have already started, but then again I NEVER would have predicted this craziness. Seems the consensus here is that is probably an accurate assessment, though.

    Appreciated!
     
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  11. Chupacabra

    Chupacabra F1 Rookie
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    Ahhhh, hell…now you’re talking to my very assertive slightly irrational side haha! :D

    PS - you’re correct, too. I held onto my 993 for the better part of a decade.
     
  12. M. Brandon Motorcars

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    If the right car comes along, buy it. So you pay a bit more. Maybe the market will move in your favor, maybe it will go against you. But you got your car.

    Remember that with the higher market right now, cars are being offered for sale that will not be available if/when the market turns down. Porsche made a lot of 993s, but the pool of good ones is still somewhat small.
     
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  13. Gh21631

    Gh21631 F1 Veteran
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    I've had them all since 83' and the 993's are way over valued.
     
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  14. zygomatic

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  15. randkin

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    IMO, your decision to buy a 993 now or wait to hope that prices will settle is dependent on your real primary motivation. If your motivation is to own and enjoy the car for an indefinite period of time then buying today is rational. However if your primary motivation is for investment purposes and joy of ownership is secondary then I should think waiting for prices to settle is more appropriate decision. I personally believe that the probability of at least a short term recession is 60% - 70% probable, in which case I would expect the value of all luxury assets (cars, boats, airplanes, second vacation homes etc.) to dip for a period.
     
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  16. Chupacabra

    Chupacabra F1 Rookie
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    The reality for me is enjoyment trumps all else...I do however have two other great cars that more than sustain me (997S and 5757M), so I guess I (not unlike many here) have the good fortune of not "suffering" the absence of a great 993.

    I largely agree about the recession point and have been anticipating it for some time. I'd prefer not to say I told you so, but I think your estimate of probability is quite realistic.

    Perhaps what this all comes down to is that I'm just an old-before-his-time miser...:D

    I really do appreciate the fact that so many opinions are trending more toward heart rather than head. Sign of true enthusiasts and those who know joie de vivre!
     
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  17. Chupacabra

    Chupacabra F1 Rookie
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    You know, the 575M is all your fault. You've done enough. :)

    As usual, you are a man of exquisite automotive taste and let's just say I wouldn't rule that out!
     
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  18. randkin

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    Given that you have two excellent fun vehicles which I was not aware, I personally would be more inclined to delay the purchase to a later date hoping for a more favorable price entry point. The exception being if you found a car that checked all the boxes and is pretty much exactly what you are looking for. Personally I prefer the appearance of thr 964 over the 993 and the 997 over both on solely appearance stand point, I am not hung up on “air cooler” Pcars but then I do still have my old 1977 930 TC.
     
  19. Chupacabra

    Chupacabra F1 Rookie
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    There's truly no wrong choice there! 993, 997, 964 are my favs in order. I would kill for a good RSA and actually would take one of those over any garden variety 993, as much as I love them. I was JUST lamenting to @zygomatic how I missed out on a cherry RSA a few years back for $50k. Oh my lord...STUPID! haha

    More and more I'm staring to cool my jets a bit. I shouldn't be in a hurry.

    I should also add that this is what Zygomatic has been trying to tell me privately for like a week. Wise man, I should listen. :)
     
  20. Bullfighter

    Bullfighter Two Time F1 World Champ
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    This. Wait for a great one, the way you would have ordered it new. As I posted earlier: Maybe prices will settle... maybe not. Hard to motivate a seller with a loss.

    And if a great 964 C2 coupe comes along, consider it. It's sort of vintage/classic, but with suspension improvements and a/c that actually works. It reminds me of the 328/TR era at Ferrari, when the cars were raw but livable.

    Gratuitous photo attached.

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  21. Chupacabra

    Chupacabra F1 Rookie
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    That particular car would be the base 964 for me. Just gorgeous.

    I've often expressed similar ideas re: 964/993 and 328. Real sweet spots for the respective marques.

    Still haven't ruled out a black 328...
     
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  22. No.

    While I enjoy driving a 993 immensely, I would not want to ever own one.

    They're like beautiful call girls. Great for the weekend. To put a ring on? No.
     
  23. zygomatic

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    My advice is admittedly a mixed bag. Sure, I may find you a 575 now and again. And I support your urge for a RSA. But I'm also the one saying "if you get a RSA you should come track it with me!"

    So, basically, ignore a good 50% of everything I say.
     
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  24. Island Time

    Island Time F1 World Champ
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    #24 Island Time, Jul 12, 2022
    Last edited: Jul 12, 2022
    It depends on how much money you’re willing to lose in order to own it. That apples to all purchases that are motivated solely and only by the heart and personal want.

    The 997S is one of the two favorite Porsches that I’ve ever owned. Great car.
     
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  25. Bullfighter

    Bullfighter Two Time F1 World Champ
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    Which 50 percent?


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