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997 GT3 Market Watch


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4 hours ago, edgy said:

Looks like a very good example of a 997.1 GT3... if its a good auction, it should give us a good idea on were the market is at for these cars! 

Any guesses? 

I’m not convinced these auction sites extract all buyers from what is a pretty shallow pool. I stumbled across this ad by accident - not that I’m looking but always keeping an eye out and interested in what the market is doing…

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On 23/02/2022 at 17:04, tomk86 said:

I’m not convinced these auction sites extract all buyers from what is a pretty shallow pool. I stumbled across this ad by accident - not that I’m looking but always keeping an eye out and interested in what the market is doing…

Been following this Auction, looks like car has visited a few states.

Anyone have any info  on this car?

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The one on Trading Garage has 3 hours to go, and bidding is only at $188,888 - could either be a steal, or not meet reserve.

https://tradinggarage.com/product/2008-porsche-911-997-gt3-clubsport/

Tempting to throw a hat in the ring, but nervous about buying sight unseen and without my own PPI. Hopefully it sells to someone here!

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2 hours ago, twro said:

The one on Trading Garage has 3 hours to go, and bidding is only at $188,888 - could either be a steal, or not meet reserve.

https://tradinggarage.com/product/2008-porsche-911-997-gt3-clubsport/

Tempting to throw a hat in the ring, but nervous about buying sight unseen and without my own PPI. Hopefully it sells to someone here!

All the serious bids happen with 1 min to go. 

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8 hours ago, Sepand said:

Reserve was apparently close to 300k

 

10 hours ago, JWM said:

71E7F785-9BE1-4492-ACBC-E1D7345A6338.thumb.jpeg.193f002fe9b4ee0f6b7bcfc59fe1d46b.jpeg

(Edit: Hadn’t seen NAC911’s post before I posted)

So what’s the take away? Market a longggg way from asking prices or is this auction site just too obscure?

6% buyers premium takes it to 227k. But yeah a long way off.

In Vic add another 10% for stamp duty and the new owner has forked out 250k.

You need to be super aware of compounding costs when you buy at auction.  

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1 hour ago, NAC911 said:

 

6% buyers premium takes it to 227k. But yeah a long way off.

In Vic add another 10% for stamp duty and the new owner has forked out 250k.

You need to be super aware of compounding costs when you buy at auction.  

Think it's 6% with a max of $10k - so $224k.  That Vic stamp duty stings!

 

 

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23 minutes ago, NAC911 said:

Yep, hence why private sale is preferred so you can "negotiate" the stated price. There's no hiding from sale value with an auction. 

And no GST in a private sale , Which saves heaps of $. :)

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10 hours ago, NAC911 said:

 

6% buyers premium takes it to 227k. But yeah a long way off.

In Vic add another 10% for stamp duty and the new owner has forked out 250k.

You need to be super aware of compounding costs when you buy at auction.  

Interesting data and data point about those extra costs - they sure are a decent deduct from the sellers in hand price.
 

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7 hours ago, tomo said:

And no GST in a private sale , Which saves heaps of $. :)

Not strictly the case Tomo.  GST is applicable when the seller is GST bound. Person to person or person to business are not GST but once the business sells to person or business to business then GST is applicable. There used to be GST free businesses such as schools and government where all other businesses were able to sell GST free to them but I'm not sure if that still applies.

Maybe you mean private treaty sales rather than auction sales in which case see my point above....

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