Considering the new GT2RS is $250,000 and I read the new GT34.0 will be $216,000, I don't see why a well maintained 996TT should be $40,000. The 997TT's are $80,000-$90,000. I think we should be holding out for $60,000, after all, the performance of the 996TT is not that far behind a 997TT, especially if it has mods. Before the recession our cars were worth much more and Porsche doesn't seem to have any problem asking for way more. It's time for owners to hold out for more, the 996TT is still a supercar compared to most everything else. And what other choices do buyers have other than +$160,000 for new, or $80-$90,000 for a 997TT? I'm convinced that our cars are currently undervalued.

 

I agree, but I don't see prices recovering for a long time. I don't think prices will come down much either though.

Eventually 90% of 996s will be 600hp+

But for now, there are too many people still with virgin 996TTs selling/trading-in everyday and don't seem to mind getting $35-$45k.

 

Those are the people who need to re-think this. Even non-modded owners are not getting fair value considering the options.

 

Preachin' to the choir as far as I'm concerned.

 

Unfortunately the market determines fair value. It's frustrating as I'm a seller but I feel like my car is priced fairly relative to the market and I wouldn't lose too much sleep over selling it at the current price.

 

i agree , but ben is right .

 

I feel the same way with my BMW M5, it was an $80000 car in 2001, now you can get them all day long from $15 - $20K. The problem becomes that people do not want to afford to maintain the car and human nature kicks in and they say...do I want to spend x on the car and keep spending that OR do I want a new car with warranty and less miles.

 

But that is my point. If you want a car with a warranty, then you have to fork over the big bucks. If sellers don't cave in and sell cheap, the market will move up.

 

landjet, I'm with you, too. In fact I spent mid 50's last year for a mint 03 with 10k miles and some minor mods. While their were cars in the 40's, none of them were perfect and by the time I did the mods my car has, I would have been at the same price but with more miles.

The way I see it, my friends who have $100k or more to spend on a car have the attitude of I want XXXXXXXX and I can afford it, its only money so who cares. They take what ever they get or are offered on trade and they get to brag that they have the latest and greatest.

Last year, my cousin bought an 04 tt cab for $50k from the dealership. He got a flat 3 weeks ago, had it towed to the dealer only to find out the tire was a back ordered. While at the dealer, he looked at a used Cayman. They offered him $35k as a trade, and while I suggested he hold out for more $$$, he went for it. He paid high $50's for the cayman. When I mentioned that that was a lot to pay for a year with a used car, and to trade for a cayman and out of pocket another $20+, he said who cares, you know my financial situation.

I think may folks are jaded with their disposable income and would rather have the "It toy" that others can see than $$ in the bank. Although, I bet they have both.

 

Regarding modifications and value: Mods on a car for most people actually do not add value. I have always been surprised by the thought on this site that a modded car has a higher value than a stock one. Yes the mods cost money. However they also represent a certain level of pushing the car beyond its designed intention. Back in 1999 when I bought my first Porsche (white 964 C4 Cab), any car that was modded had a considerably less asking price than one that was stock. Modifications to cars, typically only add value to those buyers looking for that specific modification. While this site and some others clearly have a high number of modders, the majority of P-cars purchased are left bone stock. I think the 996 TT may be an exeption to this rule. Perhaps that has something to do with the lower values?

BTW - while I purchased both my P-cars in stock form, I mod them also. Even so, I see a higher value in an unmolested vehicle than one that has been frankenstiened.

 

I agree for the most part although by the number of people that buy 996TT's and suddenly sell them I suspect some of them are stretching in the first place.

I think you nailed it by addressing the frankenstien issue. The cars that command the premiums tend to be the well modded cars. Not a mix mosh of parts, rather a well thought out, well sorted car. Some of those may include motor builds, but others have only been modded with the best of the best. At this level I think it is fair to assume these cars and their modification do command a slight premium IF properly modified.

 

+1 on that. I agree w/ your post landjet, but Ben made the correct statement. Used car markets are vastly different than new car markets. Many ppl are wary of buying a performance car used because they automatically assume that the previous owner went everywhere at redline all the time.

 

And yet a 964 cup car, which is a low powered track car produced in very small numbers, is worth $75,000. That car is not worth more than a 996TT. It's all perception only, and the idea I'm trying to get across is that our cars in the grand scheme of the auto world are exceptional and undervalued. We have to take the lead in changing this.

 

I've never checked, but what were the production numbers of the 996? Also the 996 was the first model line by Porsche that was directly influenced by Japanese production methods and a much higher content of assembly line construction. To me it is pretty evident when comparing build quality of my 964 to the Turbo. The 964 cup car is rare and therefore sought after and worth more than our cars.

 

The low prices, due to the recession, were how I got into the game. I was looking at low $40k cars with 20-30k miles. 4 of them had issues at ppi. my wife told me to stop looking for the Cheapest and buy the cleanest. my budget almost doubled and while I may have saved a few $$ on a different car, my requirements were low mileage, no accidents, maintenance history, and most importantly LOCAL so I could touch and feel as well as not pay shipping.

There's a member here who bought a super clean 50k mile car for $37k. Is a $20k savings worth an extra 40k on the clock?