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I think I've been asleep!

Has the market for old Porsches met and now exceeded even the madness of the heady days of late 2016? 

There has been a few sales posted lately that have frankly shocked me.  The 996 market seems very active with 996GT3's for example nowhere to be seen sub 200k.

I'll be buying you all beers if this one goes for close to the asking but possibly $180k isn't far from the mark at all now: 1988 Porsche 911 Carrera Manual-SSE-AD-6982124 - carsales.com.au

I guess in a time of unprecedented low interest rates and no holiday spending it had to show sometime!

Or is it the case of too few sales and too many outlier sales to draw any real conclusions?

 

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The market has definitely jumped and prices have increased.

I think that some sellers are trying it on and figure "Why not?"

I don't think that the 2016 frenzy is being replicated, but cars will move fast if they are cheap or even priced sensibly in today's market

Air-cooled, 996 and Cayman's seem to be Covid crazy ATM ...

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2 hours ago, Peter M said:

I think I've been asleep!

Has the market for old Porsches met and now exceeded even the madness of the heady days of late 2016? 

There has been a few sales posted lately that have frankly shocked me.  The 996 market seems very active with 996GT3's for example nowhere to be seen sub 200k.

I'll be buying you all beers if this one goes for close to the asking but possibly $180k isn't far from the mark at all now: 1988 Porsche 911 Carrera Manual-SSE-AD-6982124 - carsales.com.au

I guess in a time of unprecedented low interest rates and no holiday spending it had to show sometime!

Or is it the case of too few sales and too many outlier sales to draw any real conclusions?

 

It’s certainly something I’ve considered in the last few weeks, even though my 87 is the oft derided Targa it’s also a genuine Aussie delivered G50 with only 132k on it. When I see coupes of a similar vintage / kms going for $150+ it makes me think about what I’d ‘need’ to have it insured for, I would struggle to replace it for what it’s currently insured for, even though Shannon’s upped that last year. 
 

I’ve been tempted to run it past one of the local specialist dealers for an appraisal, see what they say. Trouble with that is I’d probably get even more tempted to sell it and join the massed hordes chasing GT3’s 😂

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My insurance was renewed in late December.  Interestingly Shannons didn't do the usual reduction in values, they stayed the same and there was actually a tiny reduction in the premium.  I took the opportunity to raise the agreed values on my 996.1 GT3 and wife's 2013 981 Boxster, which was no issue with them, although there was an increase in premium accordingly.  The 981 is interesting, it is a standard, non-S PDK car, and I would assess that it has only reduced in value by $7-$10k from when we bought it 2 1/2 years ago, that's pretty cheap motoring I reckon (and more than offset by the increase in value of my GT3.......)

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I agree with your comments and was only just thinking about this very topic whilst driving home last night given the recent surge in prices. Surprisingly, came in this morning and Shannons have sent through my renewal. Insured Values have remained the same and the premium has increased by 2.5%. Think I'll be calling them this morning and adjusting the value of the P car.

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After Famous pulling the pin, I've just last week moved the MR2 Turbo over to Shannon. The 911 is due early next month, so will see what they suggest regarding values when I get a quote.

I know that Carsales prices is not the true indicator of what the cars actually sell for, but at the moment low supply has made for some hefty increases in listed prices!

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I had a very good experience with Enthusiast insuring my C4S.  The guy doing the underwriting was coincidently the same guy formerly of Ryno who used to do my early cars a few years ago.

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Just had a call back from Shannons after emailing them this morning. Have upped the coverage on my P car to $180K. Premium is now $957. Everything else remains unchanged. (excess $550)

I think that's pretty good. Includes Salvage Rights and Choice of repairer etc.

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Interesting @Nikos. I received the letter today from Famous confirming they are not provided insurance for the 911.

My car is nearly identical to yours - 84 Australian delivered coupe having only travelled 190K km, only 10K  more than yours. Currently insured for 120K...

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That's not good for any of us. The less competition, the higher our premiums are likely to be.

I've been with Shannons for over 20yrs and never put through a claim. Currently have 2 x Harleys, a Scooter and the 911 with them. They weren't competitive on my wife's new XC90 Volvo. Give them a shot if Famous don't want to play.

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The Famous underwriter RACQ has pulled the rug out from under them unfortunately. Less insurers as you say will mean less choice and higher premiums! 

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3 hours ago, Fishcop said:

I had a very good experience with Enthusiast insuring my C4S.  The guy doing the underwriting was coincidently the same guy formerly of Ryno who used to do my early cars a few years ago.

Can't let unlisted drivers behind the wheel with Enthusiast. I like to let others experience and enjoy being behind the wheel of my cars...

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1 hour ago, Dalai said:

Can't let unlisted drivers behind the wheel with Enthusiast. I like to let others experience and enjoy being behind the wheel of my cars...

That's true - but the price difference is significant enough that (for me at least) I accept the hindrance. 

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I moved my 1973 T/E Targa to 100K cover soon after i got my mits on it. Imported and converted and not a coupe but in great condition. Matching numbers being confirmed tomorrow by Adam at Porsche (I had to come home and find my engine number). Perhaps i'm too low. I have no idea. The premium is pretty reasonable. (Shannons)

 

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