924 - Will they ever be worth anything?

[hepkat63]

Hey guys/girls,

just wanted to gauge forum members opinion on whether they think that the 924 will ever start to increase in price?  I know that traditionally, they are the 'ugly' sister of the Porsche family but sometimes these sort of cars start to go up in price for that very reason.  I am thinking about 1950's cars and for years, if it wasn't a ford, it wasn't worth anything.  Then the 50's chev started pulling in money and then the 50's dodge - which was always a non-buyer.   I also think about the old Valiants that I used to be just throw away cars too and the money they are pulling.

I spoke to a Porsche dealer the other day and the conversation moved to exactly that about 924.  He said that they seemed to be always 8 to 10k cars, but when potential owners found out how expensive it was to fix them and that parts are pretty hard to find, they shy away from them.  Anyhow, just thought I'd ask the experts !

[tazzieman]

It's unlikely. The only reason common Fords , Holdens and Jap cars fetch big prices is nostalgia and parts availability. 924s were never common and most people never went to school in one , etc etc. neither did they have a pic on the bedroom wall.
Now that normal cars are being phased out , the next gen wants stuff they can "tune" largely from the 90s and onwards. Baby boomers spend cash on stuff they really wanted from back when.
924s are just stuck in an awkward zone unless you live in a pocket of desirability area , maybe somewhere in a suburb of Helsinki or somewhere?
A 924 is a conversation starter and a bit of fun , not an investment. Turbos , well yes , a better prospect but potential moneypit.
 

[TINGY]

Probably not, not that 924 owners want to hear that, i read recently that last month an absolutely mint 924 turbo sold for 14,500euro, it was green and a factory grade example, i guess that is the benchmark now?

[TINGY]

These will be worth something, and to think i knocked back a silver 924 Carrera GT 4 years ago

https://www.evomagazine.com.au/porsche-924-carrera-gt-how-very-2017-or-not/

[Dreamr]

I don't think the standard 924 will go very far ... it will always have an appeal to those who like the classic 80's nostalgia feel but monetary wise, will stay stagnant .... people didn't dream about owning a 924 and that translates into desire in today's and the future market ....

The 924 Turbo is a little more special and a lot rarer and while prices still haven't gone overly far, I feel that they could slowly slowly creep upwards ... but certainly not to any figures that you could retire on. I bought my 924T from a PFA member as speculation that one day they will worth something .... since owning it I have enjoyed it so much that I don't really care any more about the monetary value .... I know of a sale in the UK of a nut and bolt restored one that sold for £50,000 (about $75k)

The ones to have are the 924 Carrera GT ... they were undervalued for a long long time (just ask @TINGY944  ?) and now are worth big bucks ... and should continue to keep going.

If you want a 924, buy it to enjoy it for what it is .... not because you think you can make money from it .... it's possible, but nothing to get really excited about ...

[LeeM]

  The good old Aussie saying 'Yeah nah' comes to mind

[Dreamr]

9 minutes ago, LeeM said:

  The good old Aussie saying 'Yeah nah' comes to mind

You could have let him down gently! .. 

[LeeM]

5 minutes ago, Dreamr said:

You could have let him down gently! .. 

 The older I get, the less subtle I have become mate ?

[brian in buddina]

924 will they be worth anything? Only if you have a Carrerra GT or a Turbo. but probably less than what they cost you & what you spend on them. 

If your looking for an investment with some type of appreciation look else where. Rental property maybe.

But if your looking for a P car experience & can do hands on maintenance probably the lowest cost rung on the P ladder.  But if you do almost any mechanical work, upgrades or refurb your into the next rung on the ladder the 986 Boxster.

https://www.gumtree.com.au/s-ad/sunrise-beach/cars-vans-utes/1977-porsche-924/1172635271?utm_campaign=socialbuttons&utm_content=app_ios&utm_medium=social&utm_source=email

Potential fun Hotrod build,  Carrerra GT look, just add a motor swap like a 924 turbo or 944 motor, then you will need brakes, suspension etc etc etc. But when its all said and done you would not, I think, recoup your costs. Again a 986 boxster would offer higher levels of performance and refinement and have AIR CON!!!

I could be completely wrong but just my  2 cents worth. 

[bear924]

One thing with the 924T is that if the market ever decides they are worth something, the low volumes will push prices up. It's my view that the Porsche press treats the 924 much more favourably than it did a decade ago and that for a certain niche, the car makes sense. For someone wanting a classic 70s Porsche (much less refined than the 80s Porsches), who doesn't have $100k to spend, the 924T is a decent option. Even on this forum, its interesting the number of 924T owners who have a modern 911 parked next with their 924.  They are also much simpler mechanically than the 944/ 928, so they make a great Porsche to learn mechanicing on.   Parts are a pain, the net makes it easier and I feel it is easier to source parts than it was 5 years ago however they do require an enthusiast owner. So my view is that the future 924 turbo owner will be someone who has considerable financial backing, has one or two more modern Porsches and wants a cheap 70s car that are rare, and therefore somewhat interesting. If enough of this group start chasing 924 turbos, we might see prices move up more considerably than now. This could ripple out to the 924 NA however I do have some doubts.

I'm also of the view that the value of 924T have drifted upwards over the years. They haven't appreciated like the air cooled, however possibly increased 50-100%. eg. a 924 turbo sold for $10k 5 years ago, would probably sell for $15-20k now. Reality is that you would have spent more than $5k over that time getting the car sorted, so certainly not an 'investment'.

[Coastr]

Are they worthwhile as a cheap track car?  Or does the lack of performance mean getting decent performance costs $$ more so not worth it?  Again better with a boxrod?

The price increases would be 944t -> 944 na -> 924 t -> 924.

anyone looking at a 924 will have considered 944 at some point.  And 944s have a ton of curb appeal.

For what it is worth in my recent dealer visit in the US they had a mint 924 for low teens.  

Could it happen?  5 - 10 years ago you couldn’t give away a 914 and now look at them.

 

[brian in buddina]

40 minutes ago, Coastr said:

 

The price increases would be 944t -> 944 na -> 924 t -> 924.

 

 

Just to qualify; a 944 post 1986.5 oval dash will be worth more* than 924T

944 pre oval dash may not be worth (much) more* than 924T

* depending upon condition

[Dreamr]

9 minutes ago, brian in buddina said:

Just to qualify; a 944 post 1986.5 oval dash will be worth more* than 924T

944 pre oval dash may not be worth (much) more* than 924T

* depending upon condition

Can of worms there Brian ....

I'm not so sure I agree .... that may be the case at the moment, but I reckon that as time goes on, the rarity and the rawness of the 924T will overtake the pricing and need for that more modern car ....

[TINGY]

2 hours ago, LeeM said:

  The good old Aussie saying 'Yeah nah' comes to mind

 

2 hours ago, Dreamr said:

You could have let him down gently! .. 

Ok i did bring it up but quiet now please

[brian in buddina]

10 minutes ago, Dreamr said:

Can of worms there Brian ....

I'm not so sure I agree .... that may be the case at the moment, but I reckon that as time goes on, the rarity and the rawness of the 924T will overtake the pricing and need for that more modern car ....

Dreamr

Well,  we will just to wait & see...?

but by then I may not remember what we were waiting for.

[hepkat63]

great comments guys - thanks.  As many others have i'm sure, I try to keep an eye on the Market.  Seen a few 924's go over the last twelve months for very different prices.  Obviously, the manual is worth more than the auto, but there seems to be a large gap in what they are worth.   Seen them sell for 4k up to 12k in the last twelve months.

[TINGY]

1 hour ago, bear924 said:

One thing with the 924T is that if the market ever decides they are worth something, the low volumes will push prices up. It's my view that the Porsche press treats the 924 much more favourably than it did a decade ago and that for a certain niche, the car makes sense. For someone wanting a classic 70s Porsche (much less refined than the 80s Porsches), who doesn't have $100k to spend, the 924T is a decent option. Even on this forum, its interesting the number of 924T owners who have a modern 911 parked next with their 924.  They are also much simpler mechanically than the 944/ 928, so they make a great Porsche to learn mechanicing on.   Parts are a pain, the net makes it easier and I feel it is easier to source parts than it was 5 years ago however they do require an enthusiast owner. So my view is that the future 924 turbo owner will be someone who has considerable financial backing, has one or two more modern Porsches and wants a cheap 70s car that are rare, and therefore somewhat interesting. If enough of this group start chasing 924 turbos, we might see prices move up more considerably than now. This could ripple out to the 924 NA however I do have some doubts.

I'm also of the view that the value of 924T have drifted upwards over the years. They haven't appreciated like the air cooled, however possibly increased 50-100%. eg. a 924 turbo sold for $10k 5 years ago, would probably sell for $15-20k now. Reality is that you would have spent more than $5k over that time getting the car sorted, so certainly not an 'investment'.

Well put and i agree.

23 minutes ago, brian in buddina said:

Just to qualify; a 944 post 1986.5 oval dash will be worth more* than 924T

* depending upon condition

Not so sure about that Brian, like Wayne said the "van motor" is a bit easier to work on in a lot of aspects. A lot of people like the updated interior of the 85.5 944, for me if it's a toss up between a 2.5 and a 924T, knowing what i know now i think i would take the turbo.

To me the 2.5 944 has a ceiling and i can't see them going through it. Buying a 924T you are getting similar brakes wheels etc and a lot more performance in a much lighter package, so to me it's a better option.

 

[Zelrik911]

The 924 has a lot of competition for a "low" cost hobby car (or even a low cost DD).

Yesterday I followed a Ford Capri convertible (1990?? Oz model) on Club plates & I reckon it would have only been $1K max to buy it - cost of spare parts & running it would be peanuts compared to any Porsche. It looked good and all the gen X young thrusters were glancing at it along the beach roads. You cant get your thrills from speed, like we did in the good-ol-days.

So there are quite a few MX5s and equivalents for cool lowcost motoring. 924s are nice however the kids around here are into Subies & Golfs. 

[Coastr]

Yeah nah couldn’t go the Capri.  It all depends if a 924 can become cool.  All it would take is one popular movie or tv series featuring a 924 and off they would go.

[LeeM]

3 hours ago, brian in buddina said:

 

https://www.gumtree.com.au/s-ad/sunrise-beach/cars-vans-utes/1977-porsche-924/1172635271?utm_campaign=socialbuttons&utm_content=app_ios&utm_medium=social&utm_source=email

Potential fun Hotrod build,  Carrerra GT look, just add a motor swap like a 924 turbo or 944 motor, then you will need brakes, suspension etc etc etc. But when its all said and done you would not, I think, recoup your costs. Again a 986 boxster would offer higher levels of performance and refinement and have AIR CON!!!

I could be completely wrong but just my  2 cents worth. 

  I often wonder why the people selling these cars say so many good things about them, collectable, saved the company/ appreciating investment blah blah, yet they say they'll swap for a Jap car like a Skyline? Something fishy methinks. I love the look of the 924 GT, yet agree it would need the engine package to make it a fun car for the weekends. All jokes aside, a Boxster would be a much better car to drive and have the mod cons, yet its chalk and cheese comparing them to any other earlier car like a 924, 944 or even a 911. A non turbo 924 would have to be mint and /or restored before it's worth anything, as a cheap one is basically a heap of s..t waiting to empty someone's wallet to bring it up to being a nice car. Sorry if that offends anyone, but it's true with any old car. 

[brian in buddina]

WARNING: non P cars acknowledged!

in regards to "investing" in an old car it comes down to money! 

there are many options of cool cheaper cars a P car. By cheaper I mean purchase price, parts availability and ease of maintenance. Then there is how fun they are. I have never owned an Rx7, Mx5 or MR2. But I would imagine them to be excellent drivers cars. 

This is what old 924 are competing with on the enthusists used car market, let alone hot hatches.

But then again if you have a P car addiction you can ignore comon sense. 

[bear924]

2 hours ago, Zelrik911 said:

The 924 has a lot of competition for a "low" cost hobby car (or even a low cost DD).

Yesterday I followed a Ford Capri convertible (1990?? Oz model) on Club plates & I reckon it would have only been $1K max to buy it - cost of spare parts & running it would be peanuts compared to any Porsche. It looked good and all the gen X young thrusters were glancing at it along the beach roads. You cant get your thrills from speed, like we did in the good-ol-days.

So there are quite a few MX5s and equivalents for cool lowcost motoring. 924s are nice however the kids around here are into Subies & Golfs. 

I'm a Porsche fan and therefore don't consider non P ways to fulfil my car interest. The reality is though, that if you look at the prices of any Porsche at the moment, and compare what you can get outside the brand, it doesn't make that much sense to not buy something else. Example:

2000 996 GT3 ~ $153k https://www.carsales.com.au/private/details/Porsche-911-2000/SSE-AD-5196657/?gts=SSE-AD-5196657&gtssaleid=SSE-AD-5196657&rankingType=Spotlight

could also buy:

2005 Lamborghini Gallardo ~ $154k https://www.carsales.com.au/private/details/Lamborghini-Gallardo-2005/SSE-AD-5211953/?Cr=3 

or

944 Turbo ~ $35k https://www.carsales.com.au/private/details/Porsche-944-1989/SSE-AD-5208228/?Cr=1 

2012 Audi TT ~ $35k https://www.carsales.com.au/private/details/Audi-TT-2012/SSE-AD-4918190/?Cr=73 

The 924T is the same, I could easily pick up newer, faster .. better .. cars however as I'm a Porsche nerd I don't consider those, only other cars within the Porsche badge.

[Dreamr]

21 minutes ago, bear924 said:

The 924T is the same, I could easily pick up newer, faster .. better .. cars however as I'm a Porsche nerd I don't consider those, only other cars within the Porsche badge.

I've met him and confirm that he's a nerd .... 

[TINGY]

What years are we talking here, '77 to 85 maybe?

What 4cyl cars would compare to a 924, any variant and delivered to Aus just for example TR7, RX7, Beetle, MG, Alfa, Escort, BMW. I reckon these cars would be just as expensive to keep/update/maintain/bring back to life as a 924.

All the classics are the flavour of the month and all the cool kids seem to be driving an old car.

[micknine01]

This thread will be fun to read again in 15yrs time..