The price on a rare car like this is going fluctuate more with buyers and sellers motivations than they are with the comparable going prices. If you find the right car close to home, you will likely pay more for it than one you have to fly out of state to get.
968CAB there have not been any 968 sales locally for a while. The most recent was a 1992 Guards Red Coupe with 74K miles on it which sold for $13,500 two month ago. It was a good daily driver but not concours or anything. It is disappointing to see the prices on our favorite drop so much. Good luck, Bob Blackwell.
[quote name='bob blackwell' date='Jul 28 2005, 03:49 PM']968CAB there have not been any 968 sales locally for a while. The most recent was a 1992 Guards Red Coupe with 74K miles on it which sold for $13,500 two month ago. It was a good daily driver but not concours or anything. It is disappointing to see the prices on our favorite drop so much. Good luck, Bob Blackwell.
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Bob, I think you were the gent that sold some 968 parts to me over a year ago... if you had a silver coupe that was destroyed in an accident. Hopefully you;ve found another 968!
I suspect that the flood of ex-lease Boxsters and even early 996's that have returned to dealers are affecting 968 prices. It's a relatively small market at best for Porsches. Some of the 986 / 996 sales on eBay must be really distressing for sellers. I've got a lead on a '93 coupe that might be interesting, but if prices are so depressed, I'll pass.
I can add that I have very reluctantly just put my car on the market and the price research I did really varies. It seemed like I'd find one car for $16k and another car just as nice for $12k. Its a strange market for the 968s.
There are just not enough 968s that change hands to really establish an accurate trend line. Prices do seem to fluctuate all over the place. They seemed to be going up last fall - confirmed by Bruce Anderson's February price guide in Excellence. Having said that recent transactions have seen a drop... I think. Could be the Boxster thing.
eBay transactions are not an accurate guide. Too many neophytes impulse buying, misrepresented cars, and transactions that never actually happen due to buyer or seller bailouts.
On the good news front, a white cab with around 40k miles on it sold here recently for $23K. There is hope!
...but a very clean Mid Blue '94 cab with 126K was purchased recently for $7500!! <img src="/forum/images/smilies/968/biggrin.gif" class="smilie" alt="" /> I have yet to put one extra dime in it, and its a daily driver.
I was surprised to see
this 968 coupe with 95k miles, recent service, and all service records which no one was willing to bid above $9k. Maybe there was something in the carfax, but as far as I can tell, that car would have been worth a good deal more than $9k!
ADDED NOTE: I emailed the seller and asked what the reserve was ... $16.9k. I don't know if it is worth that, but wow, the auction didn't come close!
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Reserve seems a bit high for 95k - but $9k is ridiculous.
as said above, ebay is really not a good guage - unfortunately, ebay is often frequented by bargain hunters and dealers - a unique item like a 968 falls prey to those people far too often because sellers are often desperate, and can't wait for those people to shake out and get down to the people who really want one of these cars
reserve bids and starting bids more in line with what the seller wants would be the best way to deal with this - you will get fewer bids and less activity, but those bid and that activity that you do get would be serious buyers and not looky-loos, tire kickers, and dealers - the bidding should have started much higher than 9k
From the point of view of the 968 owner/seller, eBay is strictly for masochists.
I listed mine and it was brutal. Nearly every buyer purports to be an 'expert' who will presume to tell you the highest price you'll ever get. They will also tell you about some ultra-low-mileage, MINT 968 that sold for 10K. Then they'll start subtracting from that number against every defect you'll disclose.
I had no trouble getting my asking price from a local independent dealer of German cars.
Definitely a soft market these days though. Really tempts me to get another.
Cheers!
Tristen
Not sure if this is pertinent to the subject, however, I just purchased Eric's (Forum administrator) MO30 968 for slightly more than 22k. This was after an exhaustive search for a 968 in which I looked at somewhere in the area of 10-15 cars ranging in condition and style. I could have easily spent 5-8k less on a very nice example, however, you just can never be certain how the car has been treated and the honesty of the owner.
If you buy a car whose owner you trust and you know he/she's kept it up meticulously, it's worth the extra thousands. Believe me, the little stuff adds up quickly. Have a PPI done by a competent person who will also give you an estimate of the costs for fixes. I do this and it's saved me more than a couple thousand every time. Unfortunately, it's always taken more than a few thousand to get the cars where I want them. Whoever buys a car from me (if my widow sells) will get one for a fraction of what I have invested in them. I'd pay more for the better car but don't go on looks alone. Cars are like potential spouses that way. What you see is not necessarily what you get. And the maintenance is always high. But can be worth it.
Harvey
[quote name='968 Cab' date='Jul 28 2005, 02:44 PM']One week – eBay seller gets $16.5K for a 126,000 mile 968Cab Tip, then a week later, another car sells for $13.9 with only 74,500 miles on it. So less money for a car with a lot less miles.
Both are 94’s and look to be pretty decent cars. What prices have others noticed recently?? What kind of prices are people seeing locally?
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What i have found when shopping for Porsches is that it is the condition, not the mileage that dictates the selling price. i remember when i was shopping for my first 944 back in the early nineties. I would go see cars with 40K-50K miles on them that looked terrible. Then I would see a car that had 70K-80K miles in great condition. I ended up purchasing a 70K mile 944 turbo that was in great shape.
Top of the line cars in excellent (near mint?) shape, and low miles will always command good prices.
BTW, was the Alaska $25k car the one that had a rear end problem? If so....uh...even top of the line cars have to be reviewed carefully with a PPI, backbround check, etc.
But you don't find near mint cars every day.
Harvey
I'm reminded of what dealers say: "cars that sold for more new generally sell for more used." That said, the 968 sold for ~ $10k more than the first year Boxster. If you carry over the market status when 968s were new (fewer buyers with the $), fewer buyers will be willing to pay what the 968 is truly worth now. I have a 1995 968 Cabriolet, of which only 366 were imported/sold in the U.S. Compare that with first-year Boxster production, and the disparity should give you an idea of how long it will take to find a buyer who will pay what the 968 is really worth!
I wish that were true for 928s...one of the most expensive production Porsches ever made...but now one of the cheapest to buy...and one of the most expensive to maintain since it was a $100k+ car in its latter years. In spite of the downsides, I probably will always have a 928....and a 968. I trust the latter more.
Harvey
"cars that sold for more new generally sell for more used." Jeff
One 928 that seems to be holding it's value is the GTS. I keep watching that market, hoping - so far, in vain - that the values will reach the point where I can add one to my paddock!