924Board.org

[Fasteddie313]

If we are seeing prices go up in Europe I guess it is what it is..

Thinking about this from a traders perspective, the market at large may not have realized this yet, but just wait for a little think called arbitrage..

If a decent 931 costs $5k in the USA, and they are going for $20k in Europe, it only costs about what? $2k to ship a car to Germany..

So lets guess a US car is worth 20% less than a Euro because it is either not as good looking or needs $$ to be put back to Euro spec.. So $16k..
- $2k for shipping = $14k
Profit margin opportunity needs to be substantial for a trader to tie up funds and take risk so lets call that 33%.. Little over $9k..

So, any good 931 in the states going for less than $9k is at risk of being snapped up and sent to Europe to be sold at a profit by some trader arbing the markets..

If a guy can buy ship sell and make $5k why would he not.. Some people are in this business..

What this would do is raise the prices in the USA due to reduced supply and lower the prices in Europe due to increased supply and the markets will balance..

Who in their right mind would sell a CGT in USA for $60k when you could ship it to Europe and sell it for $100k?
Why would I think that there would not be guys out there that would buy for $65k in USA, ship to Europe, sell for $95k, and make a cool $25k profit??


If my 931 becomes valuable just please nobody tell my GF..
Mine is just a bastardized rat rod so it's not worth a penny, lets go with that..
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80 Turbo - Slightly Modified

[Strictly Attitude]

The rules of supply and demand are at effect.

[Fasteddie313]

http://www.ebay.com/itm/1978-Porsche-924-Base-Coupe-2-Door-/122205342673?forcerrptr=true&hash=item1c74018bd1:g:HogAAOSwMVdYFm2H&item=122205342673

$5k bid on an unoriginal 4 lug NA..
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80 Turbo - Slightly Modified

[Kenodog]

P.T. Barnum's rule of commerce applies there.






Me
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1979 Euro 931, Olive
1981 931, Sabine
1991 Ford Ranger XLT 4x4, Ricky
1996 Ford E-350 ex-FedEx Van
2014 Mazda CX-5 (Kinderwagon)
2019 KTM 790 Adventure
2024 KLX300
2024 KLX140

[Cedric]

A swede is trying his luck down south, seems to pay off, bids currently at 22k euro


http://m.ebay.de/itm/222300098863
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1980 924 Turbo
www.instagram.com/garagecedric/

[Glemon]

Lots of interesting comments here, I think that 924s are going to appreciate here in the states pretty soon. There is the rising tide of Porsche, 911s and even the 914 (I still kick myself for not picking up a darn near perfect one they were asking $2500 for about ten years ago) have come up quite a bit. The people that might have thought they were cool but could't afford one new back when are in their prime car collecting years, they are a good looking, good handling car made by a manufacturer with excellent pedigree. All sorts of slow but interesting and fun cars with similar histories of little value are starting to creep up, such as Saab Sonetts and Fiat x1/9s, and first gen RX7s.

I don't see how a decent running 924 can sell for the same or less than a similar condotion 15 year anonobox. Not saying a regular 924 will be a 30k car next year, but the days of picking up something that needs work for practically nothing, and an almost there driver for next to nothing may come to an end soon.

There is a flip side to all this of course, rising values (if it happens) is not all good. One of the great things about these cars is they are cheap and fun. I bought a neede some work Austin Healey 100 nearly 20 years ago for reasonable money. After the really nice ones suddenly started bringing over 100k on occassion at auctions suddnly the Healey world was all about making parts of the car you would never see look better than it did when it left the factory and discussions about the "correct" bolts and washers (not from an appearance, not an enginnering standpoint).

I think cars are more fun if the focus on making the greasy spinning parts reliable, and the shine parts pretty.

Tl/dr I think prices are going up, cheap cars are more fun to own than overvalued collectors

[Carrera RSR]

[Carrera RSR]

[Defender405]

I kind of hope the rising tide moves all of the less loved P cars up. I love the old 924 and just bought a 996, Porsche's other bastard water pumper. If these 2 do climb the value ladder it will be the first time I ever got in on the ground floor of anything. I'm the guy who bought Enron stock at $3.00 because "it can't get any lower" though.
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Its only money, you can always get more.

1979 924 N/A
1975 MGB
1991 Infiniti M30
1987 300ZX Turbo

[pmcaya2]

For me it boils down to a few things:
1) I love to drive it and my '82 924 NA likes to be driven daily
2) It's not pristine, but people like and admire the car
3) Compared to its contemporaries, it was one of the best sports car of the era.
4) I can maintain it myself with cheap, available parts and the help of the great community on this forum. It's for "owner-mechanics".

So about value ... I think a buyer would be an enthusiast who wants a vintage car to actually drive - and a working 924 in good condition should sell for around $9-10,000 in the US. But the problem in the US is that you can buy a 10 year old Boxter or Mercedes "garage queen" for around the same price. (I was tempted but did not succumb -couldn't view the Boxter engine)

I don't think any of us will get rich on the 924, but it's a vintage car of its era and value will increase - the only other cars of its era that I would consider are the Healey 3000 and XKE.

Lastly, most people on this forum don't regard their car as a "garage queen", so start the engine and enjoy the ride. Carpe diem - Peter