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Rasta Monsta
Joined: 12 Jul 2006 Posts: 11723 Location: PacNW
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Posted: Fri Feb 02, 2007 6:23 am Post subject: 924 Market Update - April 2007, Excellence Magazine |
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*clicky* _________________ Toofah King Bad
- WeiBe (1987 924S 2.5t) - 931 S3
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Neil924
Joined: 18 Mar 2003 Posts: 4225 Location: Canada
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Posted: Fri Feb 02, 2007 6:52 am Post subject: |
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And as always, those numbers are meaningless when it comes to old cars. How can you tell if a car is "so so". What does that mean? And a car is only worth what someone is willing to pay for it. Why is a '78 worth $1500 more than a'77.5 or a '79? That list is a total waste of time.
That list tells me a '78 924 is worth more than an '82 931 in the same condition.
Misinformation at its best. |
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81turbo
Joined: 03 Nov 2002 Posts: 1065 Location: Oakland, CA
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Posted: Fri Feb 02, 2007 6:53 am Post subject: |
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This thing always seems like a joke.
Where are 931s selling for anywhere near $4k? |
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Rasta Monsta
Joined: 12 Jul 2006 Posts: 11723 Location: PacNW
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Posted: Fri Feb 02, 2007 7:10 am Post subject: |
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Neil924 wrote: | Misinformation at its best. |
And yet you read it. . .
_________________ Toofah King Bad
- WeiBe (1987 924S 2.5t) - 931 S3
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flosho
Joined: 01 Jul 2004 Posts: 3155 Location: Eau Claire, Wisconsin
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Posted: Fri Feb 02, 2007 7:16 am Post subject: |
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So if I repaint my car and fix the dash.. I'd only be out half of what I've spent on it! $5800 dollars... _________________ [This Space For Rent] |
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Neil924
Joined: 18 Mar 2003 Posts: 4225 Location: Canada
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Posted: Fri Feb 02, 2007 7:44 am Post subject: |
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Rasta Monsta wrote: | Neil924 wrote: | Misinformation at its best. |
And yet you read it. . .
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If I don't read it how will I know if it's misinformation? |
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tomcooper
Joined: 17 Feb 2004 Posts: 301 Location: Waterloo, Nebraska
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Posted: Fri Feb 02, 2007 10:34 am Post subject: |
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Neil924 wrote: | Rasta Monsta wrote: | Neil924 wrote: | Misinformation at its best. |
And yet you read it. . .
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If I don't read it how will I know if it's misinformation? |
Two ways to tell. One look who the author is, and two look at the publication that it's in. Both real reliable methods to tell that it's full of it.
Tom _________________ Casper and Big Red, both 1980 NA
Black Bart, 1990 944 S2 Cab |
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ideola
Joined: 01 Oct 2004 Posts: 15548 Location: Spring Lake MI
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Posted: Fri Feb 02, 2007 12:21 pm Post subject: |
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Damn. I wish my 81 were in so-so condition!!!
And I thought it was well sorted. Sheesh. Utter BS. Or maybe the currency is Canadian dollars or Mexican pesos. Well, on second thought, it could be USD in a couple of months... _________________ erstwhile owner of just about every 924 variant ever made |
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emoore924
Joined: 13 Apr 2004 Posts: 2815
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Posted: Sat Feb 03, 2007 3:46 am Post subject: |
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I see the forest through the trees...
It shows prices *increasing* as time goes on. Regardless of the specifics, an upward trend is encouraging IMHO. |
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Neil924
Joined: 18 Mar 2003 Posts: 4225 Location: Canada
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Posted: Sat Feb 03, 2007 3:56 am Post subject: |
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emoore924 wrote: | I see the forest through the trees...
It shows prices *increasing* as time goes on. Regardless of the specifics, an upward trend is encouraging IMHO. |
BUT there isn't an upward trend. Just slightly downward. |
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Rasta Monsta
Joined: 12 Jul 2006 Posts: 11723 Location: PacNW
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Posted: Sat Feb 03, 2007 4:02 am Post subject: |
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Neil924 wrote: | BUT there isn't an upward trend. Just slightly downward. |
Look again, and read from left to right this time. _________________ Toofah King Bad
- WeiBe (1987 924S 2.5t) - 931 S3
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ideola
Joined: 01 Oct 2004 Posts: 15548 Location: Spring Lake MI
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Posted: Sat Feb 03, 2007 4:32 am Post subject: |
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According to inflationdata.com, the inflation rate from Jan2002 to Dec2006 was 13.95%. Setting aside the debate about the stated values of cars, and the definition of vehicle condition, what this chart indicates is that our cars are actually appreciating since the purported value increase for virtually every model year exceeds the inflation rate for the period in question.
I still think the chart is total BS. I've seen very few examples of 924s that I would be willing to pay more than USD$3500, Neil's being a possible exception (although I didn't see it in person). BTW, Neil, did you end up selling it??? Looks like you had some action on your eBay listing...
Bottom line, the survey is total bunk because as Neil pointed out, ANY good or commodity is only worth what someone is willing to pay. I suspect anyone using this guide to set pricing on a 924 they want to sell will be sorely disappointed. Hell, even Kelly Blue Book and NADA values almost ALWAYS come out higher than what you can actually sell for, even with late model cars.
For example, from NADA:
1981 Porsche 924 2 Door Coupe
Note: (*) EUROPEAN MODEL
Original MSRP: $16,770
Low Retail $2,425
Avg Retail $3,600
High Retail $4,800
1981 Porsche 924 Turbo 2 Door Coupe
Note: (*) EUROPEAN MODEL
Original MSRP: $21,500
Low Retail $2,700
Avg Retail $3,975
High Retail $5,250 _________________ erstwhile owner of just about every 924 variant ever made |
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Rasta Monsta
Joined: 12 Jul 2006 Posts: 11723 Location: PacNW
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Posted: Sat Feb 03, 2007 4:35 am Post subject: |
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Well, and don't assume the three rating levels respresent all conditions from top to bottom. . .ie, there is no "POS" category, which describes many 924s. _________________ Toofah King Bad
- WeiBe (1987 924S 2.5t) - 931 S3
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FRporscheman
Joined: 02 Feb 2007 Posts: 16 Location: San Francisco
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Posted: Sat Feb 03, 2007 10:42 am Post subject: |
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Numbers like this make it so enthusiast owners never sell their cars because nobody believes their asking price. Meanwhile the other owners who sell for $500 keep at it and keep the actual market looking crappy.
Though I have seen a few 944s sell for what they were worth by this kind of chart. Usually when an enthusiast is selling to another enthusiast. _________________ '93 968
'84 944
82 MB 300td |
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Neil924
Joined: 18 Mar 2003 Posts: 4225 Location: Canada
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Posted: Sat Feb 03, 2007 12:17 pm Post subject: |
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Rasta Monsta wrote: | Neil924 wrote: | BUT there isn't an upward trend. Just slightly downward. |
Look again, and read from left to right this time. |
I meant in reality. If I keep my car for another 10 years, it will be worth less because it will need more work and still no benefit. |
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