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    The Slow Decay of Porsche Prices

       (3 reviews)
      Title: The Slow Decay of Porsche Prices

    I suppose it's no surprise that like many a petrolhead, spending time cruising the classifieds is not a strange habit.  It could be likened in fact to a lady window shopping in her local designer outlet village and coming home with nothing but a receipt from Pret a Manger.  When you spend that much time hanging out in the classifieds and coupled with a bit of talk among those in the trade you start to gauge a picture.  So understanding the dynamics of used Porsche prices at the current time is not hard, but it does require some clear thinking and a bit of honesty if you are to judge the right price for a potential purchase.  

     

    Just like me, you will probably also see a variety of posts on social media from folk wondering why their pride and joy hasn't sold even when advertised at 'below market price' and acting quite bewildered by this situation.  Often this belief is supported and upheld by their fraternity, reaction is often a cocktail of denial and head scratching.  But were somebody to suggest that said advertised car might be priced a bit punchy, you will literally be marched to Tyburn for suggesting such an outrageous idea. 

     

    There is truth though, and it's cold and it's hard.  

     

    The recent announcement of the 718 GT4 is not news, we all knew it was coming and sure enough it's nearly arrived.  The good news is, it's faster, it's manual, it's got a flat-six naturally aspirated engine and it will be better than the 981 GT4.  All very obvious when you say it out loud.  The RRP is also £75k, add a few options and yes, it's likely to be just over £80k.  

     

    https---hypebeast.com-image-2019-06-porsche-718-cayman-gt4-spyder-release-005.jpg

     

     

    What does this mean for the 981 GT4, the car thats market value went ridiculously through the roof, to the point that people were paying well over £100k for 'the best specced versions' back in 2016.  Many of these cars are now fetching sub-£80k and falling still.  We are now increasingly seeing 981 GT4s on the market for less than £70k and auction prices looking a fair bit lower, in fact bid prices are often not reaching the perceived market price.  

     

    Screenshot 2019-07-22 at 22.41.42.png

     

    So what I hear you say..  Well, we've established that you can buy a very low mileage (sub 15k miles) 981 GT4 with a good spec for around £68k. Theres one or two in the classifieds and more to be had at auction.  This represents sensible money for a 981 GT4, but there's probably a little more to go before the year is out, we'll see low £60k i'm sure. 

     

    This invariably has a knock on affect and on to a car that I hold dear, one which i've always said is a better car in many ways than its bigger brother GT4, the Cayman R.   Legendary for its simplistic and purist driver focussed approach, no frills but useable, limited but not exclusive.  Porsche nailed it with this car, and we all know it.  

     

    So the Cayman R was a bargain at £45k at a time when a used 981 GT4 was £100k+, 80% of the car for 50% of the cost, what's not to like.  We were literally snapping them up all day long, they were selling over the phone at reputable dealerships provided they were endowed with those 3 most critical items - bucket seats, manual gearbox and spyder wheels.  Any other options were nice, but certainly not required to deliver that legendary Cayman R experience.  

     

    car_photo_472108.jpg

     

    A Cayman R with those key options and a decent history should be fetching in the early £40k bracket, slightly down on 2016 prices but not by much.  If however you are sitting on a car wit no bucket seats, PDK and above average mileage then you probably won't see north of £35k as a private sale in 2019.  Now thats a bitter pill to swallow because back in 2016 even these cars were fetching mid-£40k at dealers amid the frenzy.  There is currently a less-desirably specced (PDK, no buckets, higher than average miles) black Cayman R on eBay for £35,995 and has been hanging around for a while, it's unfortunately specced and still isn't selling at this price even though it apparently has OPC warranty and FPSH.  The market has certainly toughened.  

     

    Screenshot 2019-07-22 at 22.48.33.png

     

    So there it is, current pricing of some of the halo Cayman models are taking a bit of a hit brought on by the arrival of the new kid in town and maybe some nervousness more generally in the premium segment of the market.  Hagerty have been reporting a decline in auction bid prices for Porsches for a while and the bubble that we've all been talking about is showing signs of deflating further.  All this and I haven't even mentioned Brexit.  

     

    What does this mean for a potential buyer of either of these models though, well the world is your oyster.  A Cayman R for c.£35k is possible or even a low mileage 981 GT4 for mid £60s - a good time to buy compared to 18 months ago, or should you stay resolute and hold out a bit longer to see where the market goes...

     

     

     

     

     

     

     

     

      

     

     

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    718 GT4

       2 of 2 members found this review helpful 2 / 2 members

    Very nicely said, well informed article.  I’ve been saying the same for a while, market has been slowly resetting on some of these models which people seem to think should fetch collectors prices! 

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    Stephen Auty

      

    The 987 Cayman R is a thing of beauty (look at the white one here) , like you say, Porsche nailed it and in the commotion of the 981 being released I think it was a car that didn't really have it's day

    It's so strange how in the quest for the perfect manual "drivers" car we all assume the latest model is going to be better but in what way? I mean do you need more than 300hp on UK roads? My Cayman S is unbelievably good to drive , it's insanely fast in 3rd , brakes are amazing , looks incredible in Speed Yellow and you can drive it as a normal car should you wish...what more do you want.?

    I get excited when I get to drive it, it's an occasion.

    Compared to cars I drove as a new driver in the late 80's it's from a different world.

    I recently got to drive, albeit for not very long in Anglesey, my mates AMG GTR , an amazing place to be for sure but would I want one? No..and neither did he, sold it not long after and bought an 88 911 Carrera and loves it.

    We're in a world of Youtube and car gurus telling us we must buy this and that as it's so much better than the previous model but they're career's are based on telling us this.

    When you look at a car like a manual Cayman R , it's got it everything and all perfectly formed in a beautiful little package ready to be enjoyed by the very lucky and clever owner.

     

     

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    Gordy. T

    · Edited by Gordy. T

      

    Well written article to be fair and does explain the state of play in the market right now. On the flip side about 9 months I bought a well speced manual Cayman R with low miles and one owner that cost towards the high end of the market value at the time and now prices have softened on them I would take a bit of a hit if I decided to move it on, but I bought the Cayman R as an emotional decision to enjoy the ownership of a great driver’s car and not as an investment so while my bank balance may not look as healthy as it could have, I feel very fortunate to be able to own and drive such a special car, which will far outweigh any depreciation in the price I paid for it and anyway I have no intentions of ever selling it.8A04E646-5096-432A-BF88-8155D7F6FD65.jpeg.88f4a5bc0fbf973b3a30f29f7494986c.jpeg

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