So will the value of CGT's Rise now ?
#16
05-12-2006 | 11:34 AM
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Just read this small blurb in Keith Martins magazine:" Carrera GT: This is the highest performance street Porsche ever built. The car has powerful allure - many stars have one, and Jay Leno drove one to a new world record for a street-legal car. The design is breathtakingly beautiful and the finish quality, level of craftsmanship, and ultimate performance would make any 904 owner blush with envy. Yet Porsche had such difficulty selling the planned run of 1,500 that the production target has been lowered to 1,250.
Prices are soft on the exceptional supercar. How can this be, when 1,500 Carrera RS cars were sold new without even trying? We tend to forget that everything, including exotic cars, has a price/volume relationship. The Carrera GT is the first production Porsche to sell at approximately five times the going rate for a standard 911. All earlier special Porsches sold at perhaps double production car prices.
Porsche discoved - as did Ford with the Ford GT - a car priced far above the standard price envelope for your marque makes demand very hard to estimate. If you're curious how strong the effect is, visit www.fordgtprice4s.com for a lively discussion of the effects of supply and demand on limited-production exotic GT cars.
And in the meantime, don't plan on making a killing with a quick flip on a Carrera GT."
Prices are soft on the exceptional supercar. How can this be, when 1,500 Carrera RS cars were sold new without even trying? We tend to forget that everything, including exotic cars, has a price/volume relationship. The Carrera GT is the first production Porsche to sell at approximately five times the going rate for a standard 911. All earlier special Porsches sold at perhaps double production car prices.
Porsche discoved - as did Ford with the Ford GT - a car priced far above the standard price envelope for your marque makes demand very hard to estimate. If you're curious how strong the effect is, visit www.fordgtprice4s.com for a lively discussion of the effects of supply and demand on limited-production exotic GT cars.
And in the meantime, don't plan on making a killing with a quick flip on a Carrera GT."
Last edited by whitlock; 05-12-2006 at 11:38 AM.
#17
05-12-2006 | 01:36 PM
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Originally Posted by RufMD
you may be right, maybe not, time will tell of course...I think a better analogy for the CGT is the 959...long since eclipsed in performance by other Porsches , but still coveted and hovering at the 400-450k mark...
this car was over supplied so the price is soft.
once the supply is taken care of prices will steadily increase in my opinion.
the only thing that could be a drag on prices down the road would be cost of maintenance.
availability of new units is probably down to sixty something and should be gone by the end of the year.
link to recent article on the over production
Last edited by icon; 05-12-2006 at 01:53 PM.
#18
05-12-2006 | 02:53 PM
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about 50 at dealers currrently and selling 5-8 per month nationally.
Icon, I agree with you (which of course is only Opionion) Oversupply is the
problem--the car is better than fantastic!! When all new ones are gone,
then the market will be more interesting...
MK
Icon, I agree with you (which of course is only Opionion) Oversupply is the
problem--the car is better than fantastic!! When all new ones are gone,
then the market will be more interesting...
MK
#19
05-12-2006 | 04:19 PM
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Ruf MD,
I agree the 959 may give an indication. No racing history. But it's production numbers were way lower than the CGT. Also the 959 is the basis of much of the subsequent 911 development since the 959 debut, so its importance to Porsche history is high. Als remember that the price on the 959 stayed at MSRP for many years, and didn't really rise until thge laws changed regarding US ownership. Thus you had a car produced in limited numbers, that was gobled up immediately as a collector car of great importance, and then when price might start slipping, a whole new market opened up, substantially increasing demand. All that, and after 20 years the car is worth twice what you paid for it (excludes maintenance, insurance, and opportunity costs). Not bad, but a good way to go poor if you are hoping for financial windfalls.
As you said time will tell. Me, I'd much rather have your F40 than a CGT. Of course you have both, right?
I agree the 959 may give an indication. No racing history. But it's production numbers were way lower than the CGT. Also the 959 is the basis of much of the subsequent 911 development since the 959 debut, so its importance to Porsche history is high. Als remember that the price on the 959 stayed at MSRP for many years, and didn't really rise until thge laws changed regarding US ownership. Thus you had a car produced in limited numbers, that was gobled up immediately as a collector car of great importance, and then when price might start slipping, a whole new market opened up, substantially increasing demand. All that, and after 20 years the car is worth twice what you paid for it (excludes maintenance, insurance, and opportunity costs). Not bad, but a good way to go poor if you are hoping for financial windfalls.
As you said time will tell. Me, I'd much rather have your F40 than a CGT. Of course you have both, right?
#20
05-12-2006 | 05:37 PM
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Originally Posted by brnsrgn
Ruf MD,
I agree the 959 may give an indication. No racing history. But it's production numbers were way lower than the CGT. Also the 959 is the basis of much of the subsequent 911 development since the 959 debut, so its importance to Porsche history is high. Als remember that the price on the 959 stayed at MSRP for many years, and didn't really rise until thge laws changed regarding US ownership. Thus you had a car produced in limited numbers, that was gobled up immediately as a collector car of great importance, and then when price might start slipping, a whole new market opened up, substantially increasing demand. All that, and after 20 years the car is worth twice what you paid for it (excludes maintenance, insurance, and opportunity costs). Not bad, but a good way to go poor if you are hoping for financial windfalls.
As you said time will tell. Me, I'd much rather have your F40 than a CGT. Of course you have both, right?
I agree the 959 may give an indication. No racing history. But it's production numbers were way lower than the CGT. Also the 959 is the basis of much of the subsequent 911 development since the 959 debut, so its importance to Porsche history is high. Als remember that the price on the 959 stayed at MSRP for many years, and didn't really rise until thge laws changed regarding US ownership. Thus you had a car produced in limited numbers, that was gobled up immediately as a collector car of great importance, and then when price might start slipping, a whole new market opened up, substantially increasing demand. All that, and after 20 years the car is worth twice what you paid for it (excludes maintenance, insurance, and opportunity costs). Not bad, but a good way to go poor if you are hoping for financial windfalls.
As you said time will tell. Me, I'd much rather have your F40 than a CGT. Of course you have both, right?
After watching an internal PCNA DVD on the Carrera GT for sales and staff last night, I find it very hard to believe that it won't be regarded as a classic in the years to come. To see the construction and detail of this cars components and to understand its racing pedigree, is to realize that comparing this car to any of Porsche's current road cars is apples and oranges.
Look, it doesn't take a brain surgeon to .....oh wait !
#22
05-12-2006 | 09:28 PM
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you know, I just went out into the garage, and sat in it...fiddled around with some buttons, read through the online Pro manual, and just took it in....the furthest thing from my mind was what it will be worth in 5 yrs or 10 yrs...
simply put, some experiences don't really have a value...not for me anyway (ok, let the dork comments begin....)
simply put, some experiences don't really have a value...not for me anyway (ok, let the dork comments begin....)
#23
05-12-2006 | 10:09 PM
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Originally Posted by RufMD
you know, I just went out into the garage, and sat in it...fiddled around with some buttons, read through the online Pro manual, and just took it in....the furthest thing from my mind was what it will be worth in 5 yrs or 10 yrs...
simply put, some experiences don't really have a value...not for me anyway (ok, let the dork comments begin....)
simply put, some experiences don't really have a value...not for me anyway (ok, let the dork comments begin....)
#24
05-13-2006 | 03:56 AM
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Originally Posted by RufMD
you know, I just went out into the garage, and sat in it...fiddled around with some buttons, read through the online Pro manual, and just took it in....the furthest thing from my mind was what it will be worth in 5 yrs or 10 yrs...
simply put, some experiences don't really have a value...not for me anyway (ok, let the dork comments begin....)
simply put, some experiences don't really have a value...not for me anyway (ok, let the dork comments begin....)
rubbing it in our faces like that!
wish there was one out in my garage i could go sit in right now!
#25
05-13-2006 | 04:57 AM
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Originally Posted by Erik
“The Carrera GT is the best motivation to get rich that we’ve ever driven.”
Hmmm...
The RUF RT12 motivates me somewhat more, although I have never driven the CGT and probably never will...
Hmmm...
The RUF RT12 motivates me somewhat more, although I have never driven the CGT and probably never will...
wait til u drive, or even ride in one. RT12 could be fast but it'll just be another fixed up 3.6 flat 6 911 coupe. CGT is a totally different story.
#26
05-13-2006 | 01:36 PM
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Originally Posted by brnsrgn
I don't think so. Over 1000 made. No racing history. Cars that appreciate in value faster than upkeep, insurance, and opportunity costs are far and few between.
I predict they will sell for quite a bit less in the next few years. Maybe even half MSRP 5-10 years out.
Just my thoughts. For comparison look at a Ferrari 550 barchetta, Aston Vanquish, etc.
I predict they will sell for quite a bit less in the next few years. Maybe even half MSRP 5-10 years out.
Just my thoughts. For comparison look at a Ferrari 550 barchetta, Aston Vanquish, etc.
The 550 Barchetta is selling at the value of MSRP. When they were unvailed they were going in the 400 range. now 225-250
#27
05-14-2006 | 04:21 AM
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I HAVE READ A ARTICLE A FEW MONTHS AGO..
the article was mentioned afew supercars comparing new and used after afew years. .(including ENZO,BUGATI.CLK GTR etc.)
the GT will drop alittle price for a short time.and it will go up just like any other super car do...
so CGT owner enjoy it..
the article was mentioned afew supercars comparing new and used after afew years. .(including ENZO,BUGATI.CLK GTR etc.)
the GT will drop alittle price for a short time.and it will go up just like any other super car do...
so CGT owner enjoy it..
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