"jjhats" (ssaxman)
12/18/2015 at 11:37 • Filed to: None
1
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"jjhats" (ssaxman)
12/18/2015 at 11:37 • Filed to: None | 1
| 12 |
why did this sell at 300k:
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but this didn’t at 200k:
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Wacko
> jjhats
12/18/2015 at 11:41 |
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matching numbers
itschrome
> jjhats
12/18/2015 at 11:43 |
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that’s easy. from a collector stand point 300k for the beat up one is because it’s numbers matching in orginal condition and running. IE has engine/transmission ect that came with car and still has original paint ect... even though it looks beat up a bit that’s what they would call a “patina”. while the other one has been pained, has a differnt engine than it came with ect, ect ect.. while over all a nicer car it loses value to a collector because of this. Also the 300k has the Porsche Certificate of Authenticity to prove it’s numbers matching original status.
cletus44 aka Clayton Seams
> jjhats
12/18/2015 at 11:43 |
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It’s all about originality. People like the scratched and dinged honest look of a car that’s never been restored. Unrestored cars that are still drivable are very rare and priced accordingly. It’s a trend that has sprung up in the past 5-7 years
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jjhats
> Wacko
12/18/2015 at 11:44 |
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matching numbers is so stupid/meaningless in the classic car world. I know at least for corvettes you can get restamped blocks to whatever digits u want
RamblinRover Luxury-Yacht
> jjhats
12/18/2015 at 11:46 |
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Simple rule: past a certain point, getting a “deal” on the car is no longer important, but matching the right buyer with the right car is. The guy or guys with the whim to buy this or that car or who have an idea it’s worth thus and such are not always going to materialize and are very fickle. Further, in an extremely limited-market car, there’s a certain extent to which buying the car at a given price helps set its resale price to another “the guy” in five to ten years. That price does not of necessity extend to other, nearly identical cars, and the actual value of the car doesn’t matter - it’s a financial instrument reflecting how much people paid for it.
Corollary: if the “right guy” to buy that car is present, since the getting of a “deal” is no longer relevant and the car’s value is not actually related to its price, sometimes extra is spent to show off. Wait, not sometimes, all of the time.
Berang
> jjhats
12/18/2015 at 11:53 |
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Well if it’s an auction all there needs to be is one person with money who really wants it. And if there’s not - then it’s worth nothing.
Also older restorations often depreciate considerably. Which is something a lot of people have a really hard time wrapping their heads around. A car that was restored ten years ago is a lot like a car that was bought new 10 years ago. Doesn’t matter if its been barely driven and taken care of. It still depreciates. A lot of people pretend like once a car is restored - that’s it - it just stays up in value forever.
The Ghost of Oppo
> jjhats
12/18/2015 at 11:55 |
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The non matching engine has less horsepower and is more common
stuttgartobsessed
> jjhats
12/18/2015 at 11:56 |
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the junky looking one is totally all original, no changes, etc and matching numbers. also a “survivor” or something thats not been restored, which is super hot right now for collector cars.
the nicer looking one was a three owner, no longer not only with the original engine but the replacement engine is from a different model. Also repainted in a non-original color combo.
it’s kinda weird but makes sense I guess, and a lot of the high prices are pure supply and demand for the purest, most original example of something to have “just as it was when it left the factory”. Now there is even something as “over restored” which results in a lower price because the car is too nice
Cé hé sin
> jjhats
12/18/2015 at 12:03 |
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If we understood classic cars, we’d all be richer than a very rich thing!
That Bastard Kurtis - An Attempt to Standardize My Username Across Platforms
> jjhats
12/18/2015 at 12:06 |
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I remember reading about a guy with a Jaguar XK120 who had had it since new. He kept up on the maintenance, replaced things, got it painted when the paint faded, and just drove the car. When time came to sell it, it was somehow worth less than one that had been sitting in a barn for 30 years but was “original”.
All I know is that that particularly stupidity in the market favors people like me who want to buy a car and drive it, so I’m kinda fine with it.
RallyWrench
> jjhats
12/18/2015 at 12:48 |
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A completely beat wreck of a Speedster went for $538,000 in Monterey because it was “original” and had “patina.” There is a distinct line between patina and neglect, and the car was firmly on the side of neglect. If ever you needed confirmation that the Porsche market has lost all semblance of reason, that is it.
HFV has no HFV. But somehow has 2 motorcycles
> jjhats
12/18/2015 at 15:12 |
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Because some people car more about collecting, or bragging rights than about just getting out and driving their car.