In search of 90+ (airbag equipped)

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06 May 2015 13:41 #18263 by y33trekker
Hello all, I've been dipping my toes back in the shark tank recently with the goal of finding a decently sorted 928, and it was suggested that posting with a wish list might bring a few more options out of the wood work...or water works with it being a shark tank and all.

Would prefer an airbag equipped model, so at least a '90 model or newer.

Either AutoX or manual, silver or grey would be first color choices for exterior, but open to other options, just depends on the car. And while red is nice, it's just not for me at the moment.

Not in need of perfection, but being a prospective new 928 owner, I'd rather not start out with an electrical or mechanical basket case that's going to sour the experience either, so at least fairly sorted please.

My current budget would be in the high teens or low twenties for the right car at a fair price

Found a '91 recently with 92k miles and an asking price of $25k. No maintenance records available prior to past 10k miles of ownership. Paint, interior, wheels, and tires needed attention... It had a "recent" paint job (10-12 years old) with assorted dings and chips and front and rear bumper covers that already needed repainted, GTS mirrors and rear wing, aftermarket stereo stuff and 10 year old tires on curb-rashed rims. Worth $25k?

Prior to that, found a '90 with 50k miles and an asking price of $25k. Turned out owner said he did not know his car had a salvage title in it's history. After being informed of that tidbit, he still wanted $25k nonetheless...and current for sale ad still does not mention title history. Worth $25k?

About that same time, found a '90 that looked good overall...except for the area of rust on the passenger rear quarter that had somehow not made it into the pictures that were sent. The owner wasn't asking as much for that one, but the seeming attempt to hide the rust in the pictures that were sent gave me the impression that passing on that one would be a good idea.

So again, I'm willing to pay a fair price for an example that is actually worth that asking price.

Many thanks,

Patrick

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08 May 2015 08:37 #18264 by y33trekker
Wanted to clarify that I'd appreciate input on the examples I listed in my OP and their respective asking prices. If those prices are more realistic than the input I've received lately has indicated, I may simply have to adjust my budget and/or range of years of Sharks I should be searching for.

Thanks again.

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12 May 2015 20:52 #18277 by martinss
Have you taken a look at the Hagerty valuation tool?

For example, a '90 S4: www.hagerty.com/valuationtools/HVT/Vehic...ch/Report?vbe=122916

While the analysis is open to argument, and of course many people do, I think it is directionally correct provided you select the correct condition, which I would say is a 3 or 4 for the cars you mentioned.
The following user(s) said Thank You: y33trekker

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13 May 2015 08:41 #18278 by y33trekker

Have you taken a look at the Hagerty valuation tool?

For example, a '90 S4: www.hagerty.com/valuationtools/HVT/Vehic...ch/Report?vbe=122916

While the analysis is open to argument, and of course many people do, I think it is directionally correct provided you select the correct condition, which I would say is a 3 or 4 for the cars you mentioned.

I appreciated the reminder on this, because once you mentioned it I recalled hearing about it awhile back from another 928 owner but hadn't referenced it lately.

The owners I'd been asking for input on the cars I mentioned apparently HADN'T forgotten about it though since the input/appraisals they'd been offering seem to have been right on target. One of those owners suggested that maybe current 928 sellers were trying to ride the wave of the recent upswings in 911 asking prices?

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13 May 2015 11:07 #18279 by martinss

...The owners I'd been asking for input on the cars I mentioned apparently HADN'T forgotten about it though since the input/appraisals they'd been offering seem to have been right on target. One of those owners suggested that maybe current 928 sellers were trying to ride the wave of the recent upswings in 911 asking prices?


I think there are several things at play here:
  1. The overall prices of classic cars are on the rise as the economy improves: www.hagerty.ca/valuationtools/market-trends - click on the various tabs on the left
  2. 911 prices have been some of the best performers, and there may be some drag-on effect for other Porsches, but frankly I'm not sure how important that is to 928 prices since the cars appeal to very different people
  3. '80s cars are entering the collector sweet spot in general - the people who grew up when they were the dream cars are now approaching a time in their lives when they have more disposable income and time
  4. And I speculate heretically, that modern brand-loyal Porsche owners are much more likely to have a water-cooled, front-engined, V8 (or V6), and as many have commented new 911s are much more like a 928, so I think they are interested the ancestor of such cars rather than the classic 911
All that said, ideally you can find someone selling a good 928 who is not aware of the recent price increases. Certainly many of the current owners seem to beleive you can get a good one for not much money, so hopefully will sell the same way ;-)

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13 May 2015 11:35 #18280 by y33trekker

All that said, ideally you can find someone selling a good 928 who is not aware of the recent price increases. Certainly many of the current owners seem to beleive you can get a good one for not much money, so hopefully will sell the same way ;-)


Strangely enough, that hardly ever seems to be the case does it. ;)

I've had THAT conversation on another message board where I've tried to convince afficianados of a particular vehicle that as they're haggling/nitpicking for rock-bottom prices for the vehicles they're buying, they're ALSO affecting overall values of those selling...both currently and in the future (possibly including themselves on down the line). Can't say as I've ever much luck getting some of them to make the connection though.

All I'm looking for is a decent car at a fair price, that doesn't include TOO much included sentimental valuation. I'm willing to pay some extra for the sentimental and added-personal-touch aspects, but that value does have to be within reason.

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