Gen 2 3.4 manual wanted

[MartinF6]

If anyone is pondering selling their gen 2 3.4 987 Cayman, I'm a serious buyer and will pay a proper private sale price well in excess of trade offers.

 

Spec wise, must be manual and have extended leather. 

 

Thanks.

[Neil_jdmr]

This thread stays pretty active with new cars coming up.

[jc848]

I am thinking of putting my one up for sale - I will PM you the details.

Edited March 17, 2022 by jc848

[MartinF6]

17 hours ago, Neil_jdmr said:

This thread stays pretty active with new cars coming up.

 

Thanks. I'm all over the ads everywhere, so have that covered. Only thing suitable currently in classifieds is such a long, long away. If it was absolutely perfect spec, I'd jump on it. But it's a bit thing bar the extended leather.

[Julian987]

17 hours ago, MartinF6 said:

 

Thanks. I'm all over the ads everywhere, so have that covered. Only thing suitable currently in classifieds is such a long, long away. If it was absolutely perfect spec, I'd jump on it. But it's a bit thing bar the extended leather.

 

This one

 

https://mrsportscars.com/listing/porsche-cayman-s-factory-aerokit-spyder-r-wheels/

 

or this one

 

https://www.pistonheads.com/buy/listing/12965928

 

maybe?

 

[MartinF6]

First one is PDK (and laughably over priced even in this market).

 

Second one is OK, but black on black doesn't excite me. It also overpriced given the mileage. Which is why it has been for sale for a while and not shifted. Neither are value.

 

I'd pay through the nose for a perfect spec car. But there are a lot of over priced 987 right now and none of them are selling. The correctly priced good spec ones disappear instantly. I missed a veyr good car at Dove House about two months ago. Hadn't quite decided I was buying. 

 

Outfits like Ashgood who really know what they are doing are not pricing the cars nearly this high.

[Julian987]

Ah my bad, I thought for sure the first was manual but didn’t fully check. Apologies for that run around.

 

if black isn’t your thing then maybe this red one with extended leather?

 

https://www.autotrader.co.uk/car-details/202203053228472?atmobcid=soc3

 

they come up from time to time with extended leather. 
 

I don’t have the link at hand but isn’t the manual back edition 987S currently for sale got the leather?

 

I waited over two years for an R to come up with extended leather. I don’t think you’ll need to wait as long! 

[MartinF6]

Actually, an R with extended leather is if anything a bit easier. I've seen quite a few over the years.

 

Red one is so very far away and zero spec bar the extended leather. Over priced for a private car given the lowly spec. Black edition at Invictus does not have extended leather and is also overpriced.

 

Yes, I am saying a lot of cars are over priced, but none of them are selling. Places like Ashgood, Steve Bull, Northway - all proper Porsche specialists - price the cars properly and get them sold. Ashgood has a gen 2 3.4 on 50k miles up for £25k this week and it sold in a few days. Steve Bull has a 50k mile 3.4 up for £27k, that will probably go quite quickly.

 

£28k for a 3.4 on very nearly 70k miles is over the top, as is the PDK car for £33k. But Maundrell and MR Sportscar are in that category that tend to overprice and have cars sitting for a long while. I'd still buy off them and pay the over price if the car was exactly what I wanted.

 

There are some outfits, like 911 Virgin, who price high but tend to have only really high quality stock and are probably worth the premium. Maundrel and MR Sportscar not in that category. They're a bit more in the Harry Enfield Saw You Coming category. Very expensive but you don't really get anything extra for your money.

 

Don't get me wrong, I'd pay £30k or whatever for absolutely the right car. But right now there's a lot of over priced stock on the market that isn't shifting. Interestingly, a little higher up in the market, prices look much softer, GT4s, 991 GT3s etc.

 

Actually, Cayman Rs haven't really gone up at all, so it's all a bit odd. For whatever reason, several traders are trying it on right now with lots of megabucks (relatively speaking) 987s. There are some absolutely crazy advertsied prices at the moment. Doubt it will last. Very few of them are selling.

Edited March 18, 2022 by MartinF6

[MartinF6]

The job lot of five white 987.1 Sports is amusing, too. Lots of people desperately trying to cash in on perceived bull market, all the cars advertised as so very rare. Well, there's five of the bloody things for sale right now, all in white!

 

Mid £30k-plus for some stripes and an 8hp remap? Give me a break! 

[Julian987]

well the only other one might be

https://www.autotrader.co.uk/car-details/202203053228472

 

a bit spec light but has the extended leather. Looks cherished.

 

I can't see this year nor next being any different prices wise.... incrementally more year on year for the next decade at least. Some business models will differ, those that want the quick and constant turn over....and whilst they all want that outcome, some must be ok to wait things out  - likely PX'd against rather than a list price. 

 

In this past year we have seen 3 R's at £50k sold. 2 in the past 6 months. With the right spec, right milage, right history the choice R's are slowly incrementally going up. Some aren't I agree, some wont' shift at all, but those always tend to be the ones with oddities/issues.

 

In the past year we have seen

Gen 1's start with a 3

987S start with a 3

R's start with a 5 (in fact one in the UK starts with a 6 listed on this forum)

BE's start with a 4

 

it ain't going down from that anytime soon.....and even if it did it's not going to bomb. Its never going back to where it once was at in my opinion.

 

 

 

 

 

 

[MartinF6]

Rs are not going up. The best ones have always gone for a bit more. The typical advertised price hasn't budged for ages.

 

I think prices in real terms will soften. Of course, the number may not go down on account of high inflation. In real terms, indeed, prices aren't really any higher for 987s. Pound is probably worth at least 20 percent less now than pre pandemic.

 

It's also true that prices at this end of the market are harder than a bit higher up. Aircooled stuff and GT3s etc haven't gone up 15-20 precent in the last year or so like these 987s have. If anything, they've been softening.

 

I think 987s (and regular 981s) have been dragged up by the shortage of mainstream cars. Things like old aircooled 911s and GT3s aren't really effected by that. If that eases, then I think prices will soften.

[Julian987]

lets agree to disagree

compare notes in a year and good luck with your search, if I spy anything I'll post it in the other thread

Best regards

[MartinF6]

Well, one can't agree to disagree on facts. And it's a fact that typical advertised prices for Cayman Rs have not been going up.

 

As for where the market will go, that we can disagree on. Don't pretend to know for sure. I just think pricing on a lot of these 987 cars looks a bit wonky. Have also noted that most of them haven't sold for months, which says something. And it's not that the market is slow. The well priced ones go quickly.

[Julian987]

...

Edited March 19, 2022 by Julian987

[Cliff R]

On 18/03/2022 at 21:50, MartinF6 said:

The job lot of five white 987.1 Sports is amusing, too. Lots of people desperately trying to cash in on perceived bull market, all the cars advertised as so very rare. Well, there's five of the bloody things for sale right now, all in white!

 

Mid £30k-plus for some stripes and an 8hp remap? Give me a break! 

Agree 6 months ago they were circa 22/24k max cars.

 

[Windymiller]

On 17/03/2022 at 01:02, MartinF6 said:

If anyone is pondering selling their gen 2 3.4 987 Cayman, I'm a serious buyer and will pay a proper private sale price well in excess of trade offers.

 

Spec wise, must be manual and have extended leather. 

 

Thanks.

As soon as I get my build slot date confirmation for my GTS4.0 mine will be up for sale. 

 

987.2 3.4, Extended leather, manual, PSE, Bose, sports design steering wheel, Porsche OE SSK, GT3 MBC, SS brake hoses, Cayman R rear ARB, body-coloured interior trim, VERY well cared for past 5 years of my ownership (E.g. services every year) and every service receipt from new. 
 

All the ‘typical’ issues on a 10-12 year old 987 have been done in the past couple of years , i.e., coolant pipes, clutch, water pump, PSE vacuum valves, condensers, etc, etc. 

 

currently @71k miles. 
 

here’s her full ‘bio’:

 

Just been MOTd and 4 new tyres fitted, service booked for last week of March. 
 

i am doing a France trip (~1500 miles) in her in April and then just the odd wknd run out in her till I get my build date at which I’ll be selling her. 
 

i will be looking for around £28k at current prices as she’s such a great spec and has been lavished with TLC by me, and wants for nothing having had all big 987 jobs done and new tyres, brakes service etc. 

 

Unfortunately I have no idea when I’ll get a build slot, I placed my order in December ‘21. 🤷‍♂️  So a waiting game for now I’m afraid. 
 

Jason

 

[MartinF6]

Thanks. I had a look at your thread before, it looks very nice.

 

I think with the mileage, that's probably too much, for me at least. That's roughly what the more expensive trade outlets would retail it at and with that provide consumer protection. For me, private simply has to be at a discount as it comes with absolutely no protection if the car turns out to have a major fault. Unfortunately, no matter how well looked after, mileage is a killer for value on these cars and over 70k is relatively high.

 

Which isn't to say you won't get £28k for it. Perhaps you will. But personally, were I to pay that much for a private sale, would need to be roughly half the mileage.

 

 

[Windymiller]

Fair enough, and I thought exactly the same when I bought mine from Cridfords with a 12month warranty 5 years ago (that hasn’t covered any of the repair / replacement costs in the 4 years since the warranty expired 🙄🤷‍♂️😆). 
 

And obviously my pricing will be dependent upon the market at the time, whether that’s up or down - when I do eventually list her for sale. 
 

These gen 2 cars are pretty robust, and unlikely to develop much in the way of ‘major’ problems beyond the typical coolant pipes etc so long as cared for through their life. They certainly don’t ‘detonate’ engines and gearboxes. 
 

At 10-13 years old now (as the 987.2 models are) ‘lower’ mileage example will become higher mileage, though there are still examples available with very low miles on them. But then there’s the train of thought that 10+ year old cars with 20-30k miles may not have been used ‘enough’ in their lives to avoid later life problems. 
 

Good luck with your search, just be patient, look at every example close to your want-list and move quickly when you find ‘the one’ 👍🏻

[Julian987]

4 hours ago, MartinF6 said:

That's roughly what the more expensive trade outlets would retail it at and with that provide consumer protection.

 

 

 

...but you said in your opening message "I will pay a proper private sale price well in excess of trade" 🤷‍♂️

 

In my opinion WindyMillers price is very fair price considering how lavished upon it has been.  A 70K miler with that amount of care vs a 50ker for a few £k less but with a 3rd party warranty that isn't worth the paper its written on but gives one a warm fuzzy feeling.

 

I think you are coming at it waaaay too much like a spreadsheet exercise, but good luck to you in your search.

 

 

[MartinF6]

Trade would pay maximum £20-21k for a 70k-plus mile car, most would pay less. Most trade will only pay a little over the WBAC price, which is circa £18,500 for that mileage currently.

 

So, one could offer well in excess of trade and still be quite a bit below £28k. Again, it looks like a great car, I just don't see any advertised prices let alone transaction prices that justify a private valuation of anywhere near £28k. It would be a fairly high price at retail, let alone private.

 

Maybe I am missing several advertised cars that support this kind of valuation?

 

Someone else may well take a different view and pay that much, which is totally fair enough and I would not criticise that. I'd pay over £30k for the right car for me, so the amount of money isn't the issue. But personally I probably need to start on lower miles as I do add quite a few and I'd have the car over 100k in about two years, at which point the value really does crater.

 

It does look like a great car. But that valuation with that mileage doesn't compute for me.