Jkay Posted 23June, 2021 Report Share Posted 23June, 2021 As we all know used cars prices in general are up, Porshe being no exception. I’ve gotten offers about 15-20% above what I paid for my 2.9 Cayman just under a year ago, so I’m thinking of maybe selling. Have had quite a few good drives in her. I am then prepared to be without a Porsche or “fun car” for a while, and I don’t think the used market will stay this strong forever ? Once the market normalises (when that will be who knows), I’ll look for a replacement, hopefully at pre covid prices . I am as mentioned, in no rush at all Does my train of thought sound crazy? This is just me thinking it loud and would be interested in hearing opinions if anyone has any. If this is in the wrong section, apologies and by all means please move it to the appropriate section. Thank you in advance Yeatesy 1 Quote Link to comment Share on other sites More sharing options...
MFX Posted 23June, 2021 Report Share Posted 23June, 2021 I agree the used car market in general is hugely over inflated and it will have to correct. That said, the P car market may not follow the same as 'regular' cars. I think the newest used stuff will fall back first, as soon as the new stuff is actually available (991's , 718's). The slightly older enthusiast market like your Cayman and older don't follow the trend as much. I do think they are over inflated but how much the will drop back is harder to predict. Jkay 1 Quote Link to comment Share on other sites More sharing options...
LeeM Posted 23June, 2021 Report Share Posted 23June, 2021 Its not crazy at all mate. If you want to cash in (so to speak), and you're not that bothered about being attached to your car, then why not? There's always the chance of the market coming back to 'sensible' pricing, yet theres also the chance of the reverse of that happening, which may kill ones idea of buying a car later on for the same or less than the current market. Joz and Jkay 2 Quote Link to comment Share on other sites More sharing options...
JWM Posted 23June, 2021 Report Share Posted 23June, 2021 Very hard to say what will happen. Tend to agree with others that newer stuff will pull back as new car supply returns but older cars may just continue rising as they’re doing so for different reasons. I think if you have something very specific in mind that you want to jump on I’d be more worried about being ready to pull the trigger on one when it comes up, rather than trying to time rises and dips in the market generally. The good thing about the prices rising is it brings more of whatever you’re after out to be sold, so it’s swings and round abouts sometimes. Joz and Jkay 2 Quote Link to comment Share on other sites More sharing options...
Jkay Posted 23June, 2021 Author Report Share Posted 23June, 2021 True... thanks Gents. I guess it is a bit of a gamble at the end of the day, and I guess we well all have our own reasons for selling. I think for me what it ultimately boils down to is, even tho I love my Cayman (hydraulic steering and all), I still dont see it as a forever car, so looking at it purely from that point of view, I think I'd be inclined to sell if I get a good offer. Id also be quite happy with a 991 Carrera T or the right 991.1 GT3 with the G Series engine if prices settle back down (.2 is out of budget however an "understated" GT3 Touring would be a dream and a keeper), so lets see what happens. Would love a Turbo too with those fat hips and gobs of torque, but I am not sure if its the right car for Australia (unless I go 993 but then again thats not within reach) JWM 1 Quote Link to comment Share on other sites More sharing options...
sleazius Posted 23June, 2021 Report Share Posted 23June, 2021 I was chicken little at the start of Covid. Was certain we'd see prices crash. How does that prediction look in hindsight? 🤣 Prices could do anything is the moral. The only thing that has been consistent for the past 6 years or so is that prices seem to keep going up. Will that continue? Your guess is as good as mine. JWM, Jkay and Joz 3 Quote Link to comment Share on other sites More sharing options...
KGB Posted 23June, 2021 Report Share Posted 23June, 2021 I’ve sold 4 cars in the past 9 months, 2 Porsches, easily and with what I think we’re premiums, 1 new’ish Mini JCW at 30% more than it was worth 12 months prior and an AMG at what I’d term slightly below current market, Ordered a new German wagon factory build in April ‘20 when no one was buying, biggest new car discount I’d ever seen, 18% (fortune favours the brave!) Bought a used Porsche at what seemed normal price last May, Just bought a fairly modern Porsche at strangely pre-COVID pricing or less privately, something I’d been wanting for a couple of years, they’re trading thru dealers when they come up at 20-30% more, simple dumb luck and a complicated seller who I.gelled with and could act quickly upon. My point is have a go, opportunity is knocking like never before. They’re only cars, not life or death! Quote Link to comment Share on other sites More sharing options...
edgy Posted 23June, 2021 Report Share Posted 23June, 2021 I don’t think it’s a bad idea to take advantage of the market conditions what ever they may be (high or low) … and it come down to what you’re trying to achieve for your own circumstances. I actually sold my 997 GT3 last year at no doubt the worst time, but then I traded up and bought my RS in the same market… so for me (and others I know that did the same) the rationale was that there’d probably never be a better time to trade up to such a car, since the price delta between cars was far less then than it is in a hot market. bit like realestate I guess, timing is everything sleazius 1 Quote Link to comment Share on other sites More sharing options...
Yeatesy Posted 23June, 2021 Report Share Posted 23June, 2021 I can share my experience here. I’ve worked in the car industry for over 20 years and have never seen a new or used car market like this. I’m at a Toyota dealership and we have a huge order bank of sold news cars and used cars had been selling before they even got prepared and made it onto the yard. New cars have been selling at the RRP or very close to it and used car prices have been sky high. So I made the decision to advertise my 987.1 Cayman S for a silly price with the mental agreement with myself that if I achieved what I considered to be the right price I would sell it. A few stupid offers along the way (but still a lot more than I paid for it 18 months ago) and then a guy who lives 700m away agreed to buy it for the figure I wanted. My rationale was that I didn’t think I could ever achieve more for the car and although I absolutely loved the car I really want to get into a 987.2 or something very special such as a Cayman R or 981 GT4 with the intention of keeping it for a very long time. Fast forward to today and the used car market has slowed down (we had no stock and now the yard is full) and I’m struggling with not owing a Porsche. I’m checking online multiple times a day and can’t find the replacement I’m after, I thought I could be patient but the struggle is real 😆 sjm, JWM and cafe_racer 3 Quote Link to comment Share on other sites More sharing options...
MFX Posted 23June, 2021 Report Share Posted 23June, 2021 2 hours ago, Jkay said: True... thanks Gents. I guess it is a bit of a gamble at the end of the day, and I guess we well all have our own reasons for selling. I think for me what it ultimately boils down to is, even tho I love my Cayman (hydraulic steering and all), I still dont see it as a forever car, so looking at it purely from that point of view, I think I'd be inclined to sell if I get a good offer. Id also be quite happy with a 991 Carrera T or the right 991.1 GT3 with the G Series engine if prices settle back down (.2 is out of budget however an "understated" GT3 Touring would be a dream and a keeper), so lets see what happens. Would love a Turbo too with those fat hips and gobs of torque, but I am not sure if its the right car for Australia (unless I go 993 but then again thats not within reach) 991s still have a way to fall, but as much as I would love the 991.1 GT3, even the G series engine is a time bomb, just a slower ticking one. 1 hour ago, edgy said: I don’t think it’s a bad idea to take advantage of the market conditions what ever they may be (high or low) … and it come down to what you’re trying to achieve for your own circumstances. I actually sold my 997 GT3 last year at no doubt the worst time, but then I traded up and bought my RS in the same market… so for me (and others I know that did the same) the rationale was that there’d probably never be a better time to trade up to such a car, since the price delta between cars was far less then than it is in a hot market. bit like realestate I guess, timing is everything Like @edgy said the safe play is to always buy and sell in the same market, everything else is a gamble. Particularly in real estate. I have met so many people who 'sell now because the price is going to crash and I will pick up a bargain' only to be left behind. A bird in the hand as they say Joz, edgy and Yeatesy 3 Quote Link to comment Share on other sites More sharing options...
DJM Posted 23June, 2021 Report Share Posted 23June, 2021 While Porsche has gone up in value, stamp duty and running costs cancel out most of any uplift. It’s pretty cool to be able to buy, enjoy, sell and not go backwards or not by much. But it’s rarely profitable and very hard to predict. Just buy and drive to enjoy. And sell when you’ve had enough and want to try something else. If you’re lucky enough to make a buck, that’s a bonus but for me it’s not the mission. I get bored easily and move on but these days stamp duty is a killer in Vic so that’ll slow me down, I hate giving cash to Govt for bugger all. MFX, tomo, sjm and 8 others 11 Quote Link to comment Share on other sites More sharing options...
twro Posted 23June, 2021 Report Share Posted 23June, 2021 13 hours ago, Jkay said: Id also be quite happy with a 991 Carrera T or the right 991.1 GT3 with the G Series engine if prices settle back down (.2 is out of budget however an "understated" GT3 Touring would be a dream and a keeper), so lets see what happens You just listed my exact shopping list! Hope we don't end up in a bidding war against each other Jkay 1 Quote Link to comment Share on other sites More sharing options...
kov Posted 23June, 2021 Report Share Posted 23June, 2021 10 hours ago, DJM said: While Porsche has gone up in value, stamp duty and running costs cancel out most of any uplift. It’s pretty cool to be able to buy, enjoy, sell and not go backwards or not by much. But it’s rarely profitable and very hard to predict. Just buy and drive to enjoy. And sell when you’ve had enough and want to try something else. If you’re lucky enough to make a buck, that’s a bonus but for me it’s not the mission. I get bored easily and move on but these days stamp duty is a killer in Vic so that’ll slow me down, I hate giving cash to Govt for bugger all. How many cars have you owned Doug? Stamp duty in Vic for cars and properties is outright theft!! 😡 For shits and giggles I did a rough calculation what I brought and sold my previous 20 cars for, including stamp duty 🤣 let’s just say glad I had lots of fun in all those different cars. to the post originator, no one has that magical crystal ball! I think lots of people may be tempted to cash in during this crazy car market, like edgy said I totally agree with the consensus to try and buy and sell in the same market. Jkay 1 Quote Link to comment Share on other sites More sharing options...
Stepo Posted 24June, 2021 Report Share Posted 24June, 2021 14 hours ago, Yeatesy said: Fast forward to today and the used car market has slowed down (we had no stock and now the yard is full) This is an interesting insider's comment, something everyone either selling or buying is trying to predict based on their circumstances. I suppose sellers should get a wriggle on and buyers may be best to hold out a little longer to get a better deal, Porsche cars or not. Only last weekend I noticed much more new stock sitting in yards as we drove down Nepean Hwy. Hopefully the global scarcity is abating for those scoping their next ride, benefits will wash out across the new and used market. Yeatesy 1 Quote Link to comment Share on other sites More sharing options...
wilson59 Posted 24June, 2021 Report Share Posted 24June, 2021 14 minutes ago, Stepo said: This is an interesting insider's comment, something everyone either selling or buying is trying to predict based on their circumstances. I suppose sellers should get a wriggle on and buyers may be best to hold out a little longer to get a better deal, Porsche cars or not. Only last weekend I noticed much more new stock sitting in yards as we drove down Nepean Hwy. Hopefully the global scarcity is abating for those scoping their next ride, benefits will wash out across the new and used market. Trying to buy a new family car at the moment with no luck everything I want is a 10 month wait . I am really impatient I was able to buy my wife a new car which was available on the showroom floor so at least one member of the house is happy Yeatesy 1 Quote Link to comment Share on other sites More sharing options...
edgy Posted 24June, 2021 Report Share Posted 24June, 2021 11 minutes ago, Stepo said: This is an interesting insider's comment, I believe that to be 100% true... I've been watching a bunch of stock lately, and it seems like a lot of people just posted an ad to go fishing, if they get it, they get it, if they don't its a few advertising $$ lost... but my observations are, they often don't get it, the cars sit! However the ones sitting in dealers (whom are no doubt motivated to sell) are, a) much more sharply priced, and b) still moving prices downward to stimulate buyer activity... similarly motivated private sellers with good stock whom meet the market come off with a result quite promptly. We saw this on the back of 2016... for a moment there it was like shooting fish in a barrel, but once the buyer activity was outpaced by a glut of average inventory only the exceptional cars moved and everything else pulled back... even good cars! A rising tide can only lift all boats so far, especially when they're chained to a mooring. 2 minutes ago, wilson59 said: Trying to buy a new family car at the moment with no luck everything I want is a 10 month wait . I am really impatient I was able to buy my wife a new car which was available on the showroom floor so at least one member of the house is happy I have a Macan Turbo you can buy right now... Yeatesy and Joz 2 Quote Link to comment Share on other sites More sharing options...
wilson59 Posted 24June, 2021 Report Share Posted 24June, 2021 24 minutes ago, edgy said: I believe that to be 100% true... I've been watching a bunch of stock lately, and it seems like a lot of people just posted an ad to go fishing, if they get it, they get it, if they don't its a few advertising $$ lost... but my observations are, they often don't get it, the cars sit! However the ones sitting in dealers (whom are no doubt motivated to sell) are, a) much more sharply priced, and b) still moving prices downward to stimulate buyer activity... similarly motivated private sellers with good stock whom meet the market come off with a result quite promptly. We saw this on the back of 2016... for a moment there it was like shooting fish in a barrel, but once the buyer activity was outpaced by a glut of average inventory only the exceptional cars moved and everything else pulled back... even good cars! A rising tide can only lift all boats so far, especially when they're chained to a mooring. I have a Macan Turbo you can buy right now... If you buy my Range Rover Yeatesy 1 Quote Link to comment Share on other sites More sharing options...
edgy Posted 24June, 2021 Report Share Posted 24June, 2021 29 minutes ago, wilson59 said: If you buy my Range Rover I might be village idiot.. but I'm not stupid. 😛 GC9911, Joz, MFX and 1 other 4 Quote Link to comment Share on other sites More sharing options...
wilson59 Posted 24June, 2021 Report Share Posted 24June, 2021 8 minutes ago, edgy said: I might be village idiot.. but I'm not stupid. 😛 I am going to buy another one and just bought my wife one 😜 Within saying that had six years of trouble free motoring . I was going to look at a Macan for my wife but based on a few people I know they had nothing but trouble with them . Maybe they got unlucky Quote Link to comment Share on other sites More sharing options...
DJM Posted 24June, 2021 Report Share Posted 24June, 2021 12 hours ago, kov said: How many cars have you owned Doug? Stamp duty in Vic for cars and properties is outright theft!! 😡 Heaps of cars maybe 35 and dozens of properties, probably enough to fund the national vaccine program 😂 Quote Link to comment Share on other sites More sharing options...
Dreamr Posted 24June, 2021 Report Share Posted 24June, 2021 1 hour ago, DJM said: Heaps of cars maybe 35 and dozens of properties, probably enough to fund the national vaccine program 😂 It’s a shit program .. you obviously haven’t bought enough. You're giving yourself too much credit! .. 😏 luzzo 1 Quote Link to comment Share on other sites More sharing options...
Coastr Posted 24June, 2021 Report Share Posted 24June, 2021 All the printed cash dropped from helicopters has created an inflation event. The government loves inflation and hates deflation. The cars are worth the same, the bits of thin plastic with numbers on them are permanently worth less. Plan accordingly. There were probably a lot of people going to buy a gtho in the late 70s after the price rises dropped back. Well, they never did. sleazius 1 Quote Link to comment Share on other sites More sharing options...
DJM Posted 24June, 2021 Report Share Posted 24June, 2021 2 hours ago, Dreamr said: It’s a shit program .. you obviously haven’t bought enough. You're giving yourself too much credit! .. 😏 Need to buy more cars, pay more stamp duty so they can waste more on vaccines and then decide not to use them 🤪 Dreamr 1 Quote Link to comment Share on other sites More sharing options...
sleazius Posted 25June, 2021 Report Share Posted 25June, 2021 11 hours ago, Coastr said: All the printed cash dropped from helicopters has created an inflation event. The government loves inflation and hates deflation. The cars are worth the same, the bits of thin plastic with numbers on them are permanently worth less. Plan accordingly. There were probably a lot of people going to buy a gtho in the late 70s after the price rises dropped back. Well, they never did. Inflation leaking out of the US is a huge problem. The M1 & M2 money supply is no longer tracked by the US Fed, it was discontinued in March ... I wonder why..... https://fred.stlouisfed.org/series/M1 Printing money on this scale never has consequences right? ..... right? edgy 1 Quote Link to comment Share on other sites More sharing options...
edgy Posted 25June, 2021 Report Share Posted 25June, 2021 21 minutes ago, sleazius said: Printing money "Quantitative easing" 🤗 Quote Link to comment Share on other sites More sharing options...
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