Assessing the value of imports

[withers]

After linking to a carsales post for a $45k 993 and finding out it was in Import (thanks to byronbaychris). It got me wondering how one can really guage what they are worth vs an AUD delivered Porsche.

Is there a going rule that states how much less an import is versus a non-import?

What about a LHD to RHD conversion, are they worth even less?

Does anyone know if say insurance companies have a mathematical approach they use when working out the value of a import?

For example i had a finance guy tell me that for a car thats been a write off and then put back on the road, finance companies will say on average the car is worth 50% less of its market value (I think it was 50%, it was a significant amount anyway)

I'm just curious..

[wasserkuhl]

There is no real formula.

Yes a categorised write-off that has been re-birthed will be worth significantly less than one that has never been in a big crash. Stands to reason really. Once they are bent, they are never really straight again......

Imports can be worth less than the equivalent Australian Delivered vehicle.

However the big factors that dictate the value of any car are as follows :

Condition, History , Import status/Registration and Roadworthiness.

Some imports cannot be registered due to LHD/RHD Conversions that are less than perfect.

Some Imports cannot be registered as they don't have an engineers certificate to validate roadworthiness.

Some imports from colder climates are riddled with Rust that will be an on going problem and issue as the car gets older.

Some imports are a mish-mash of lots of different cars parts(and sometimes VIN #'s) that have entered the country via less restrictive ports.

So, like any prospective car you need to Consider the following :

Condition - is it clearly well looked after? Does it have a history file? Provenance!!!

Registered and Roadworthy - same as condition, but you need to consider its registration status and how it was brought into Australia (Private import, in pieces and rebuilt or 'other')

How rare is the car? ie: do you have many to choose from? the rarer the model is the more wonga its worth right?

There is nothing to be scared of with an import(well there is but Knowledge Breeds Confidence here), just as long as you do your due diligence prior to purchase and have it inspected by a professional who knows what to look for (Rust, accident Damage, welds where there shouldn't be...)

I estimate that the percentile drop in value between an Australian Delivered model and an import is in the 5-15% Range dependant on overall condition, Provenance, Rarity and Roadworthiness.

I'd rather have a mint , good condition import 993 than worn out, neglected Aust delivered one.

Its all about the condition. Good cars speak softly for themselves.

Bad Cars have the sellers telling you everything and giving you nothing.

[T-Man]

Always an interesting point of discussion this is.

Can't really comment on insurance or finance but I spoke to a couple of guys selling their imports before buying mine .

Both were UK and both seemed to be great cars but interstate. Wasn't really ready for the first but it was a cracker with Seal Grey body, GT3 wheels and those gorgeous hard back seats. The other was black with 3-piece wheels, front splitters, side skirts, suspension set up by Centre Of Gravity. Another cracker which sold before as my mate in Sydney was making his way to see it for me. I had already decided in my mind that these cars should be less than the local ones, but based on what they were I think they held their own.

If we are talking 993, you will find less imports than earlier models due to the age of the car and Australian import regs. Having said that there are still a few floating around that have been bought in by ex-pats and people emigrating from England, Hong Kong etc. I have yet to see a L to R conversion on a 993.

The reality is that the RHD cars are all ROW (Rest of world) and are pretty much the same in Aus, England etc. So why should an import be any cheaper? Snow, salt on roads, condition of roads, etc.....and its not Australian delivered. That's what us Aussie owners keep saying yo justify the prices here. Imports will always be a little cheaper, but not necessarily a lesser car.

My 2 cents.

[wasserkuhl]

Well said Theo.

Condition is the key.

If someone low balled me on my C3 because its a UK car, I'd just tell them to find a better one for the price.

I reckon a mint C2 993 would be worth very similar money to an equivalent Australian Delivered one.

Other models need closer persual.

I looked at a mint Hong Kong 964 C2 in an unusual colour about 5 years ago for 45k. Wish I'd bought it. Ahh well...........

[Uncle]

Not alot to add on value that the guys have not already said. The LHD to RHD thing is interesting to me though. In the US import market a LHD car is worth more than a RHD because people want them as the came from the factory. I wonder if that will happen to the early car market with 911's?

Its one of the things I really enjoy about my car. I know every time I go for a drive it's an occasion and I dont take it for granted.

[D-banger]

I reckon for the rarer, more collectible cars, where thers is a 'world' market that keeping LHD will be more advantageous for future sale back into the 'world' market.

The 'world' market is much bigger than the Aussie market alone.

Condition will be an extremely important factor.

Keeping such a car LHD will be part of 'originality'.

I would think that a 901 'S' is starting to move into this category.

IMHO.

[Uncle]

Agreed.

Looking at the Jap Porsche market (mostly LHD) I've wondered about the future value of an early stock 930. They can be found for under 35k for a car in very good condition that would need nothing spent on it.

They regard a LHD car as a status symbol. It cost alots more to keep one rego'ed so your seen as a bit of a well to do person if you can afford one.

[Airhead]

They were all built in the same factory. The only difference is the boats they were put on sailed to different ports.

Condition is the most important aspect I reckon.

[withers]

When making this post I forgot that the Porsches are pretty much the same the world over with exception of the whole LHD thing.

I recall seeing a few nice looking imported UK cars for sale that I liked the look of.

I used to own horses and there's a saying it costs the same to feed a good one as it does a bad one.. meaning that a well cared for Import with service history is no different to a AU delivered car that has also has service history. I'm babbling....

I suppose it comes down to the individual seller and buyer and how much they value or don't value a car that has been imported.

Eyes wide open..

[qstoria]

Couldn't agree more with the statements above saying that condition of the car should be the most important factor. If there is no LHD to RHD conversion then the differences between the imported models are minuscule.

The 986 S that I recently bought was a private import model from the UK. The only difference from the factory is the speedometer is in MPH however this was no issue for Australian compliance as they have a small digital display in KPH as most of Europe is in KPH so those Boxster owners from the UK who cross the channel can still obey all the speed limits.. I had a PPI done at Nine plus in Melbourne and the report was very positive. I was even told that the condition of the car was superior to many Aus delivered 986's with similar mileage.

Say you got a PPI done on two identical cars, as in the same make, model and year and they were both AUS delivered, one had signs of neglect, missing servicing etc and the other one was well kept, always serviced and overall passed the PPI. Which would you buy? Now ask yourself the same question only that the better condition car was an import..?

At the end of the day they come out of the same two factories, under the same build conditions. Somewhere along the production line they are divided up and finished for a particular ROW market. If the car is not a RHD convert then I cannot see any issues with buying an import if the car has been complied and registered already here in Australia and passes a PPI.

Of course I am a little biased as I own an import and all now... !!!

[withers]

Thanks qstoria - it's great to also hear from people that own imports

[wasserkuhl]

World market rare numbers matching cars in LHD will be worth more than RHD.

However.

Some UK Collectors, who live and work in the middle east have 'some' disposable' income and will pay good money for 'factory' RHD originals.

Personally I really want an early Porsche in LHD. Probably moreso than a 993.

This year I shall get it.

[D-banger]

Personally I really want an early Porsche in LHD. Probably moreso than a 993.

This year I shall get it.

Which one? An early Porsche in LHD or a 993.

[Russ]

They were all built in the same factory. The only difference is the boats they were put on sailed to different ports.

Condition is the most important aspect I reckon.

i always thought that too, but looking at the Porsche AU delivery sheet for my car "design for australian conditions" is one of the options, i've always wondered what this meant

[T-Man]

i always thought that too, but looking at the Porsche AU delivery sheet for my car "design for australian conditions" is one of the options, i've always wondered what this meant

Option-M479 "Version For Australia" on my car

This option allowed me to pay a premium because it was Australian delivered!!!!!!!!!!!!!!