997 GT3 Market Watch

[JWM]

1 hour ago, edgy said:

Was there any issue with this particular example? 

I had a vague recollection of that being the case, as discussed on here somewhere, but haven’t gone to the effort to look back and find out sorry. 

[cafe_racer]

Anyone know what this sold for or if it sold? Have a mate on the hunt. 

[Ntg]

2 hours ago, cafe_racer said:

Anyone know what this sold for or if it sold? Have a mate on the hunt. 

High $400’s it went for and was a hamburger with the lot options wise and had me thinking of selling mine briefly too!!

[edgy]

2 hours ago, Ntg said:

High $400’s it went for and was a hamburger with the lot options wise and had me thinking of selling mine briefly too!!

Man I love the pumpkin 🎃 

When it came to which RS were at the top of my list, it was white/blue 996 RS & Pumpkin 7.1 RS only! 
 

I really don’t see any 997.1 RS anymore, 7.2’s I do from time to time… 

[mbedford]

Porsche have expressed interest to list my highly optioned 19,500 km example for $369,000. Not sure if that's reasonable if a RS of the same vintage goes for high 400's.

 

Do we think when interest rates are tipped to start dropping mid 2024, we'll see these rare cars go up again in value? Before Putin f'd up the world's economy, 997.2 GT3 were rising 6.5% per year in Aus on average my research showed.

[edgy]

5 hours ago, mbedford said:

Porsche have expressed interest to list my highly optioned 19,500 km example for $369,000. Not sure if that's reasonable if a RS of the same vintage goes for high 400's.

I know good examples of 997.2 RS have traded circa $600k and continue to, this seems to be well supported on the ROW market… I believe it was @hugh that highlighted the simple formula of taking the equivalent generation RS value and halve it for GT3 … this historically has generally been the case, with few exceptions. 
 

5 hours ago, mbedford said:

Do we think when interest rates are tipped to start dropping mid 2024, we'll see these rare cars go up again in value? Before Putin f'd up the world's economy, 997.2 GT3 were rising 6.5% per year in Aus on average my research showed.

I’m sure others may have their crystal ball, but for me, when it comes to cars, I just don’t look at them through that lens, I feel it’s foolish to do so for what’s essentially our hobbies, they usually, and almost always come with a cost! 
 

 

[hugh]

6 hours ago, mbedford said:

Porsche have expressed interest to list my highly optioned 19,500 km example for $369,000. Not sure if that's reasonable if a RS of the same vintage goes for high 400's.

 

Do we think when interest rates are tipped to start dropping mid 2024, we'll see these rare cars go up again in value? Before Putin f'd up the world's economy, 997.2 GT3 were rising 6.5% per year in Aus on average my research showed.

Whilst your car is a lovely example, I don’t see a 997.2 GT3 selling at mid to high 3’s at any time in the near or distant future. Is an 997.2 RS twice the car? No. But, when it comes to values rarity comes at a premium, especially 996/997 RS badged cars. 

996 & 997’s have a slimming enthusiast market as general buyers start weighing in on 991’s at 3-400k. 
 

Honestly, I’d think anyone getting low 2’s for a 997.1 GT3 is fair buying/selling, mid to high 2’s for a .2. That’s the market and it’s reflected in the 997 stock sitting on CS that’s not moved in months (years in some cases!) If any .2’s are trading for 300k+ I’ll happily eat my hat. (Again, we are taking non RS variants). 
 

 

[DM911]

41 minutes ago, hugh said:

Whilst your car is a lovely example, I don’t see a 997.2 GT3 selling at mid to high 3’s at any time in the near or distant future. Is an 997.2 RS twice the car? No. But, when it comes to values rarity comes at a premium, especially 996/997 RS badged cars. 

996 & 997’s have a slimming enthusiast market as general buyers start weighing in on 991’s at 3-400k. 
 

Honestly, I’d think anyone getting low 2’s for a 997.1 GT3 is fair buying/selling, mid to high 2’s for a .2. That’s the market and it’s reflected in the 997 stock sitting on CS that’s not moved in months (years in some cases!) If any .2’s are trading for 300k+ I’ll happily eat my hat. (Again, we are taking non RS variants). 
 

 

Good overview on current Market @hugh. Owning .2 GT3s  of 997 and 991 gen, my had always itches to grab 997 keys. ! May be that's what analogue means. 🤣.

[cafe_racer]

I've always had a hankering for a 997 RS of either gen, really such a cool looking car.  

[mbedford]

Thanks Hugh for your view on the market, remember 2 years ago, 997.2 GT3's were selling at mid 300's for average km ones.

As for rarity, lets refer back to the Aus sales numbers:

997.1 GT3 111 sold & RS 31 sold
997.2 GT3 76 sold & 45 RS sold

My own 997.2 car which currently has 19,500kms car which was purchased for $375k 2 yrs ago and i've spent close to $30k on upgrades/improvements (not maint. items), markets poorly at the moment and wont make back what i've invested ($405k).

This high interest rate world we're living in has really hammered the values on all our luxury cars.

This is the US market trend for the 997.2 GT3:

Even though its the US market, I believe the markets between US and Aus are fairly well aligned. I interpret this that once the interest rates start to drop, so the flat line from late 2022 will start to curve upwards again. Thoughts?

[sleazius]

There is no guarantee that rates drop in 24. Inflation just ticked back up, admittedly mostly due to external factors, but if we keep pouring in migrants the way we currently are, interest rates are likely to stay stable, or increase.

There is also an explosion in wages growth underway as unions negotiate with a much more favourable federal government. Which usually spills out into the wider economy.

CPI is still over 5%, that is a long way from the RBAs 2-3% target.

What does this mean for our cars? My guess is short to medium term increase in supply / stagnant prices (which we're already seeing), long term outlook - growth regardless of rates or any other factor due to decreasing number of cars per capita. That long term could be a decade or more though as boomers age out, let's be real, they're holding the lions share of the stock.

 

[on_booost]

RS = Good investment potential as long as you categorise investment as the most fun you can have with clothes on.....

[Shedpest]

6 hours ago, mbedford said:

My own 997.2 car which currently has 19,500kms car which was purchased for $375k 2 yrs ago and i've spent close to $30k on upgrades/improvements (not maint. items), markets poorly at the moment and wont make back what i've invested ($406k).

Have you ever thought of forgetting what it owes you and just drive it and enjoy it?

Or even worse, take it to the track for a spank?

[SS 3]

If you can’t afford to put at least 4-5000kms on your GT3 a year don’t buy one.
Seriously what’s the difference in 997.2 GT3 pricing between a 20000km car and a 50-60000km car over a 10 year period ( considering both cars maintained well ppf and have extended warranty)  

$275-300k 20km car

$245- 260k 50-60km car 

The later at a cost of $30-40k over a 10 year period 

Who's life do you want to have I’m backing the guy that drives his 😊 

[TwoHeadsTas]

1 hour ago, SS 3 said:

If you can’t afford to put at least 4-5000kms on your GT3 a year don’t buy one.
Seriously what’s the difference in 997.2 GT3 pricing between a 20000km car and a 50000km car over a 10 year period ( considering both cars maintained well ppf and have extended warranty)  

$275-300k 20km car

$245- 260k 50-60km car 

The later at a cost of $30-40k over a 10 year period 

Who's life do you want have I’m backing the guy that drives his 😊 

As they say, no point saving your girlfriend for the next guy (or gal)!!!!

[JWM]

9 hours ago, mbedford said:

Even though its the US market, I believe the markets between US and Aus are fairly well aligned. I interpret this that once the interest rates start to drop, so the flat line from late 2022 will start to curve upwards again. Thoughts?

The problem with this chart is it's just a time slice of, mostly, a 1 in ??? year pandemic where the entire economy had shocks none of us have lived through before ... Zoom out to see another 5 years of the past and then try and plot what you think happens in the next 5 and it wouldn't surprise me if it's a giant anomaly that you can draw a straight line through like it never happened ... Plenty of tech stock charts that look like that!

But yeah, I'd either sell it (unfortunately, probably for much less than it owes you) or drive it, and try not to think about the future value. If I had to make a prediction, it will devalue until it's back on the curve it would have been if covid never happened, then start very slowly rising again. But, who knows!

[sleazius]

Took my 997 (not gt3) out for a drive today. Such a good car. I forget because I drive it so rarely.

[tomo]

997.1  Gt3 

https://m.facebook.com/marketplace/item/1325283381523278/?ref=newsfeed

[mbedford]

That's my friend Robins car. I think he's selling as he's enjoying the older charm of the air cooled 911's more nowadays. 

[Aclmin]

Gone already? Link doesn’t work for me. What were the specs/price?

[edgy]

2 hours ago, Aclmin said:

Gone already? Link doesn’t work for me. What were the specs/price?

https://www.carsales.com.au/cars/details/2008-porsche-911-gt3-997-manual-my08/SSE-AD-14563072/?Cr=0 

 

[09ELF]

Personal opinion..

As time passes the audience of older 996/997 reduces. Once it surpasses the targets audiences hero car generation, it will need to be quiet special to appreciate.

Hard to convince a new  generation of non-manual drivers to drop $200k+ on a car which barely keeps up to a flashed golf r.

I'll take a GT3 anyday.. But that's the reality 

 

 

 

 

[sleazius]

After we’re dead sure. Whist we’re still kicking there will always be a market. They’re just too limited to not have one.

I use the 22B as an example of this for sub 50 year old drivers. It’s not even the best (or rarest) WRX of the period, but the price is nuts because kids of that generation played Gran Turismo and grew up wanting one.

[drmurugti]

On 11/10/2023 at 10:54, edgy said:

https://www.carsales.com.au/cars/details/2008-porsche-911-gt3-997-manual-my08/SSE-AD-14563072/?Cr=0 

 

Sold i think!

[911rox]

Hi everyone, new to this forum although I have been following this thread for the past few weeks in the lead up to posting my 997.2 GT3 for sale on Carsales. There was some great information on here that I wanted to thank everyone for and I feel peoples' perception of 997 GT3 market values is pretty much spot on...

I listed my vehicle about 2 weeks ago and it was snapped up within 48 hours with transaction pending... 2010 Porsche 911 GT3 997 Series II Manual MY10 (carsales.com.au)

From a seller's point of view I just wanted to add the following to the many great points made here by other members that might help other sellers (and buyers alike):

- Contrary to the belief that interest rates etc have killed the market, there are plenty of keen buyers out there for clean cars priced correctly. In just over 2 days, there were almost 20 enquiries on my vehicle. Sure, there were some people looking for a bargain but equally there were many keen buyers who appreciated what was being offered and prepared to pay a reasonable price.

- The reality is that the crazy covid prices are gone as many have pointed out. Sellers have to adjust their expectations. If you've bought high, you can't expect others to make the same mistake to make it right for you. There are far too many 997.1 cars asking more money than mine and the remaining 997.2 GT3s are insanely priced (with the greatest of respect to them).

-  If you've got one of these vehicles for sale and the phone isn't going crazy you've really got to consider whether you've priced your vehicle correctly. 

Cheers