The issue is that previously, an owner of a 996 was happy to upgrade to a 997 when it was launched, then 997 owners were happy to upgrade to a 991 when they were launched and so on. This meant that the pool of cars was constantly growing as the new models were launched. But I think that changed with the 992. It's not sufficiently engaging at sensible speeds so that means that people who are keen on using their cars are no longer happy to upgrade. In fact they're even buying older ones in order to get the engagement they want. So the supply of cars is now, for the first time, finite, not growing. On top of that, people who already own the 996s and 997s are hanging on to them, so this decreases supply even more. I think the 997 is seriously undervalued at the moment, especially the 997.1, but all the 996, 997, and 991 models are going to keep appreciating steadily for quite some time. And that will inevitably drag up the price of the mid engine cars too. The 992 is an incredibly competent car, but that's just not why you buy a 911.
Sorry but the 997.1 is not undervalued. No 911 is undervalued in fact. They are all in a bubble, just like real estate and Rolex watches. 997.1s have skyrocketed in value in the past year. They used to be $40k now they are $55k plus. Despite IMSB issues. Despite the real elephant in the room which is bore scoring. I bought a 50k mile 2006 Carrera S manual coupe in 2017 from the original owner for $35k, and sold it a year later for about the same amount. A year later the buyer had to do a full $25k rebuild due to bore scoring. On a 50k mile car. Again, they are not undervalued. To the contrary they are overvalued considering the potential mechanical failures.
@@gregs8685 as long as you buy a 997.1 that has had an effective rebuild, such as that by Hartech, you are buying a car that is just as desirable as a 997.2 for 10-15k less money. That's definitely cheap. As for values in general, you mention property, 911s and Rolex watches. I could add to the list; gold, silver, oil, shares, gas etc etc. Everything is expensive, so we're not talking about a bubble, we're talking about reality of supply and demand at the moment. Inevitably there will be something that slows or stops prices across the whole market, there always is, but you can only judge prices at the time you're buying and at the moment 997.1s are unquestionably cheap compared to the alternatives, especially if you choose well. The fact that they are more expensive than they were last year is completely irrelevant. The risk you run of not buying now is that prices increase say a further 20% before there is any let up in the market and even then prices only stay steady or perhaps fall only 10%, so you're better off buying now than waiting for the "bubble" to burst.
@@9WERKSTV as I've thought about it more it's occurred to me that if someone gave me the newest version of ANY other car on the market, I would definitely want to keep it. If someone gave me a 992, I would sell it and use the money to buy a 997. That says it all. I am sure I'm not the only one who thinks like that.
A Porsche 911 is the best stock one can buy. It will neither bring you the most profit nor the most quick one, but it surely will bring you the most fun!
In that Porsche is one of the "aspirational" brands of car that holds its value and will always have a robust, dedicated group of followers, I think people are realizing that regarding the used vehicles, there will simply be fewer and fewer of them as time goes by. As your first guest mentioned, it really is "supply and demand". I have a 997 that I doubt I will ever sell. Thanks for the very interesting interviews that you do!
I love my ‘99 996 coupe and I’m glad I got into a 996 911 3+ years ago when a clean, low mileage one could be had for $18k. To me it’s the best of all worlds - a Porsche I could afford, fast enough to keep me satisfied without getting me in trouble, reliable, and purely analog (5/98 build date).
15 months in to 991.1 c4s ownership and love your vids. Always informative and this type are super handy when my SO talks about the cost of mine... keep up the good work.
I've been looking at 997s and the majority of cars are for sale at dealers and don't seem to be moving. Many for sale for months at a time and not selling.
High end car prices are tanking while Hondas and Toyotas are at an all time High! My 2019 Honda Civic Si is worth more now than when it was brand new. Crazy.
It’s also worth mentioning base models. I bought a 997.2 C2 in March 21 for £37k and had it professionally revalued in August for £43k. I also think it’s one of the best 911 on road driving experience’s . And more than quick enough in the real world.
It’s in their best interest to push up prices on Porsche currently charging 25% over list I think it’s flat lining now as there are cars stagnant been listed for months and just not selling
Great questions!!!! I would have liked to of heard a bit more of a longer perspective, say 5 years out. And critical, what will be the impact of EVs on the space? Will ICE vehicle owners be hit with high gas prices, exclusion from major cities, etc. The immediate COVID picture is perhaps more a transitory inflation? Transitory or stable sport car inflation?
friend of mine bought a 911 turbo s but he prefers driving his 981 Boxster S as its more fun to drive he really likes my 987.2 Cayman s as its just more fun overall
Surprised none of them mentioned the semi conductor chip shortage which is the reason for the increase in price, once supply issue sorted prices will start coming down for plain vanilla porsches
...that was my big question mark too, listening to these interviews. Shortage in semi conductor chips is the main reason every enthusiast is jumping on second hand Porsches. Allocations to dealers are way, way down since mid last year. US dealers are allocated only 900 type 992 cars for the next three months, compared to 2500 cars for the same period in a normal year without sc-chip shortage. Sweden stands without any allocation, I’m told.
@@edyb2653 allocations massively down in UK too, hence why dealers have approached me to sell mine back to them as they have no stock. I think lockdown perhaps has created an additional demand as people haven’t spent as much money and reassessing their life choices coupled now with a shortage of supply, their only option is really to enter the used car market or wait potentially 18-24 months , which has increased used car prices across the board (as it’s not just Porsche affected by the chip shortage)
Great video! Would’ve liked a bit more in depth model specific and maybe spec specific argumentation though. 964? 993? Cayman? 718? What do you think of the coming 718 GT4RS?
@@9WERKSTV I’m sure you will. Love your stuff🌟 Actually I took one look at a photo and ordered a GT4RS… I think it will put the the 992GT3 to shame. Mr AP said to a pal of mine when asked if the engine would be an uprated GT4 engine, or detuned GT3 engine: “Not detuned at all😉”. The time put on the ring now was with a brake failure and maybe not the most profiled driver. We need Lars Kern to step up and put a sub 7 lap time with the GT4RS. Also, I think it will be rarer than the GT3/GT3RS as most people will want the 911 over the Cayman.
@@bisondacierr I agree of pre-992 having better looks. 992’s still haven’t acquired my taste. I’ve always preferred the size of the older, smaller cars. Now the Cayman has taken that position I think. Never been fan of the lower tier Caymans, but was completely blown away by the orange GT4RS and I’m intrigued by it being a more modern build than the inherently flawed 911’s. Still planning to hang on to my air cooled cars though. I need that third pedal in my life.
I love Porsche. The brand is superb. But we’re witnessing real world inflation from printing money from the banking crisis and Covid. My Yugo 55A GLS (First car) is probably worth more now than when I bought it. Happy driving!
As good cars as the watercooled 911's are I seriously doubt they're going to be increasing like the air cooled ones. They're great cars but they became "too good". There is not similar response from the road as the old ones have... and they're HUGE. Everyone wants the old ones, G-model, 964 and 993 and that's how it's going to be. It's the exact same thing that happened when everyone wanted a quartz watch but after a while they went back to automatic, mechanical watches. Automatics are much less accurate but have SOUL. New cars have no soul and it's like sitting in a laptop... no matter how great performance numbers they can put on the table. Cheers.
@@9WERKSTV Mug now available!!! Awesome!!! I almost just ordered it but wanted to ask one thing….will it come with a black/gray image? If so I’ll hold off 😃
Another great video. The U.S. market is just going up. Buy it now or regret it later. March 2020 I could have purchased a 2002 911 C4S coupe manual polar silver over navy blue interior 2 owner under 50k miles. car no accidents for $27k U.S. currency. I kick myself every day now.
Earlier this year, I was set to buy a 997.1 C4S 6spd for less than $30K but someone got there before me while I finished my work day. Worse yet, 8-9 years ago I was in process of closing a deal on a manual 964 Turbo for less than $35K. The car was sold quickly while I scrambled to come up with cash in a day. Moral of the story. Be ready! Still always have to do your due diligence or your bound to get burned.
I wouldn't worry. The more everyone talks about missing the boat and how prices will go up forever, the more you know an adjustment is coming. It's guaranteed one will happen, if it didn't it would be the first time in history that an asset class saw perpetual price increases. It's just a matter of when. Might be quite some time away or not. Nobody really knows. That said, in the longer term all ICE cars are going to become harder to use and most of them will be pretty worthless. Only a very few 'art' cars and truly historic cars will then be worth anything.
Once the new car situation sorts itself out 996 and 997 will drop back slightly then plateau for a couple of year's. Might make slight gains but 2030 is looming so not old enough to be classed as true classics and will drop again as no one will want one but to retro fit an electric motor...Same as all cars of this generation. PS I used to own a 996.2 Carrera 4 as my daily driver in West Yorkshire and it just became a normal car stuck in a traffic jam just like everyone else. The days I could pagger it on a country road where fleeting at best unfortunately...
Without wishing to be unkind, pretty much zero actual insight here that anyone casually following the market wouldn’t know. All very bland. Also, replete with potential for famous last words. Any chance of a price crash seemingly ruled out. May never happen. But it’s very, very easy to imagine how it might if the post COVID recovery goes a bit wrong, inflation kicks off, interest rates and borrowing costs go up. The whole thing could unravel awfully fast. Or maybe it won’t. But failure to recognise the possibility makes these guys look either a little naive or out fleece everyone while the going is good. Again, that’s a bit unkind. But where’s the real analysis, the insight into how it might play out both upsides and downsides? It’s just fairly mindless optimism throughout, I’m afraid.
Give it 10 years when electric cars charge 50 times faster and weigh less than a ton, with 0 to 60 times of 2 seconds. When ICE cars are banned from most cities, then these cars will start to look like cars from the 1940s look to us now. Demand will fall. Talking as an air cooled fan.
ICE cars are not going to be banned from cities in the next 30 years…sorry. I’m a bull on Tesla in addition to a Porsche advocate and even I can tell you that. Demand may eventually fall but not in the near/mid term.
@@robbelliii the mayor's current plans are that central London will be zero emission by 2025, also to include those boroughs outside the centre that want it. Increasing to the whole of London by 2050. It is predicted that this will be achieved by allowing pure electric vehicles only in those zones... Sorry.
