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On 25/03/2020 at 22:44, luzzo said:

After reading through this whole thread, as I have seen this GT3 has been mentioned several times over the years, my curiosity heightened when @mbedford said he tried to contact the seller unsuccessfully recently.  I am definitely considering a GT3 myself, so I made my own enquiry today.

He did get back to me after a few days. Car now as 53,000kms, options are Bi-xenon headlights, sports chrono, red seatbealts and Porsche crests on seats.

So what does everyone think will happen to the 997 GT3 car values over the next 6 months?
I believe In 6 months the light will be at the end of the tunnel for Australia, things will be starting to return to a normal, what do people think about the values?
Will there be some real bargains coming up in the coming months?

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I reckon everything is sale proof currently.  No one knows what's going to happen with the economy except its going downward and there is no guarantee things will have turned a corner for the better in 6 months.

There were lots of cheap cars during and after the GFC, I expect this pandemic unfortunately may make that looks like the shallow end of the kids pool in comparison 

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It’s difficult to say, they’ll only become cheap if supply is flooded and they don’t find buyers is my general thinking? 
 

Being an old car now, I cannot imagine many, if any owners have them financed? 
 

I’d of thought the newer high dollar stuff with finance contracts are the ones with the target on their back? It is after all in that case a discretional outgoing payment vs an asset on your balance sheet 

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There not really white its the dust from the lime stone goat tracks out the back blocks .:)

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1 hour ago, James P said:

Slip of the keyboard with the price, surely......🤔. Probably a case of what he needs as opposed to what it’s worth.

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3 hours ago, 1q2w3e4r said:

There were lots of cheap cars during and after the GFC, I expect this pandemic unfortunately may make that looks like the shallow end of the kids pool in comparison 

I would believe most of us are expecting some drop in values of all asset types 😷

2 hours ago, James P said:

Clearly this guy is not of that belief, actually the polar opposite 😮

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2 hours ago, James P said:

Yep this stuff reminds of the episode from Seinfeld with bizarre o world where everything is the opposite to what is actually going on 

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3 hours ago, James P said:

It is the rarer Touring model, so it must be more sought after :P 

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3 hours ago, MFX said:

It is the rarer Touring model, so it must be more sought after :P 

I know this was tongue in cheek but I have noticed a lot of people use the term Touring Model for all sorts of GT3s/RSs. The only 911 models that I am aware of that had a specifically named "Touring" package were the 2.7 RS, 964 RS and 991.2 GT3. But they were not specific models only different specs. Indeed, one could argue that this car is worth less because it doesn't have the more desirable options that most people want when buy a GT3.

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I think 'touring model' just sounds better than 'non-clubspec' that's why they say it.

That white one that just got listed, with those km's, no options and current market, yes I'd say its worth $175k to $180k.

To the current market situation, yes I agree most of these older GT3 cars won't have finance on them, but you may find someone who's lost their job/shut their business doors gets desperate financially, and needs to liquidate close to 200k to live off of.

 

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I thought we might have seen more fire sale cars come to market by now in anticipation of some shit times ahead and in the interest of reducing debt and/or freeing up cash.  

It seems inevitable we are headed into lockdown soon which will stall the market completely until we reach the “other side” .  Hard to inspect, test drive, buy and collect a car when you can’t leave home............don’t be that guy on the front page of the paper doing the cannonball run in your yellow GT3 down an empty freeway to get your new purchase home 😂

Interesting times, we have no precedent to gauge how the CarOwner virus will impact prices.
 

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You do also need to factor in the rare colour, as he states in the add only half of all 997 GT3's were white. Someone better snap it up quick!

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Over here in in the U.K. the market has completely stopped. All dealers are closed so no one can sell or buy a car even if they wanted to so prices have not moved one inch because there is no demand. We will see what happens when the lockdown lifts and people can visit dealers and go inspect cars.

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37 minutes ago, WGA said:

Over here in in the U.K. the market has completely stopped. All dealers are closed so no one can sell or buy a car even if they wanted to so prices have not moved one inch because there is no demand. We will see what happens when the lockdown lifts and people can visit dealers and go inspect cars.

Interesting. But how has that affected private sales?  If people need cash and want to sell their cars, wouldn't they still be doing so privately? 

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55 minutes ago, luzzo said:

Interesting. But how has that affected private sales?  If people need cash and want to sell their cars, wouldn't they still be doing so privately? 

No, because you can’t go and inspect the car. You are not allowed out of your house for things like this.

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There is a complete lockdown in the UK - this mean you don't (cannot) leave your house unless work related, emergency, etc.

The BBC has been showing a couple walking their dog on the top of the moors taken by a police drone - literally miles from habitation - castigating them for defying the police warnings....

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35 minutes ago, WGA said:

No, because you can’t go and inspect the car. You are not allowed out of your house for things like this.

ohhh... 

Excuse the ignorance. Wasn't aware their lockdown was at that level.

I guess I was just trying to fathom how people are surviving financially. 

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Only my opinion.

Regarding car values; my experience in Australia is that they seem to track inline with real estate values (barometer of how wealthy (financially comfortable) people feel) which atm has come off a little however not a lot which rings true for cars as well. However everyone one here knows debt levels are out of control in AUS, interest rates are at near zero Real estate prices are sky high and stock markets have been at all time highs.

Prior to Covid-19 we saw things stabilise maybe drift backwards with governments trying kick start economies so as we can drift along which would have been a good result for a lot of people. Then Covid-19 comes along and we all know what thats doing! I'd like to add at this point that my wishes and hopes are that my car friends and families say healthy during this time.

So the question we are all asking is that of  "Is Covid -19 the pin that pricked the bubble?" The stock market bubble Real estate bubble car market bubble!!! that order seems right.

The one that sees the share market crash! well yes 30+ % - as we have witnessed and this has scared a lot of people especially those that are in their 50's and 60's with retirement on their minds.

From here as we are an optimistic bunch my belief is that as we come out of this Covid-19 downturn we'll bounce back, markets will bounce back business's will come back to life, why because we want things to be normal again.

It's what happens after this, as people see things a little clearer, things like debt levels, Stock values, Real estate values, etc etc that scare me the most; that fear that has just ripped through people in recent times will weigh heavily on their spending decisions into the future.

Cars values will react in line with any scenario that plays out 

 

 

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On 24/03/2020 at 15:24, James P said:

Yes at full asking price..

James, I was late into the thread...what was the asking price?

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