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924 Market Update - April 2007, Excellence Magazine
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Rasta Monsta  



Joined: 12 Jul 2006
Posts: 11723
Location: PacNW

PostPosted: Fri Feb 02, 2007 6:23 am    Post subject: 924 Market Update - April 2007, Excellence Magazine Reply with quote



*clicky*
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  • WeiBe (1987 924S 2.5t) - 931 S3
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Neil924  



Joined: 18 Mar 2003
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Location: Canada

PostPosted: Fri Feb 02, 2007 6:52 am    Post subject: Reply with quote

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

PostPosted: Fri Feb 02, 2007 6:53 am    Post subject: Reply with quote

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
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PostPosted: Fri Feb 02, 2007 7:10 am    Post subject: Reply with quote

Neil924 wrote:
Misinformation at its best.


And yet you read it. . .


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flosho  



Joined: 01 Jul 2004
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Location: Eau Claire, Wisconsin

PostPosted: Fri Feb 02, 2007 7:16 am    Post subject: Reply with quote

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...
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Neil924  



Joined: 18 Mar 2003
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Location: Canada

PostPosted: Fri Feb 02, 2007 7:44 am    Post subject: Reply with quote

Rasta Monsta wrote:
Neil924 wrote:
Misinformation at its best.


And yet you read it. . .



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

PostPosted: Fri Feb 02, 2007 10:34 am    Post subject: Reply with quote

Neil924 wrote:
Rasta Monsta wrote:
Neil924 wrote:
Misinformation at its best.


And yet you read it. . .



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
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ideola  



Joined: 01 Oct 2004
Posts: 15548
Location: Spring Lake MI

PostPosted: Fri Feb 02, 2007 12:21 pm    Post subject: Reply with quote

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...
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emoore924  



Joined: 13 Apr 2004
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PostPosted: Sat Feb 03, 2007 3:46 am    Post subject: Reply with quote

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
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Location: Canada

PostPosted: Sat Feb 03, 2007 3:56 am    Post subject: Reply with quote

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
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PostPosted: Sat Feb 03, 2007 4:02 am    Post subject: Reply with quote

Neil924 wrote:
BUT there isn't an upward trend. Just slightly downward.


Look again, and read from left to right this time.
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ideola  



Joined: 01 Oct 2004
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PostPosted: Sat Feb 03, 2007 4:32 am    Post subject: Reply with quote

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
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Rasta Monsta  



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PostPosted: Sat Feb 03, 2007 4:35 am    Post subject: Reply with quote

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.
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FRporscheman  



Joined: 02 Feb 2007
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Location: San Francisco

PostPosted: Sat Feb 03, 2007 10:42 am    Post subject: Reply with quote

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.
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Neil924  



Joined: 18 Mar 2003
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PostPosted: Sat Feb 03, 2007 12:17 pm    Post subject: Reply with quote

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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