Can somebody please tell me what’s going on in the car market?

I ponder some fantasy numbers as I find myself pulled back into the car world without a clue concerning my surroundings.

0

I step out of the scene for a moment and before I know it everybody has gone absolutely mad.

Naturally it stands for me to find out that almost every single car I’ve ever sold in the past few years has rocketed in value. Let’s take a view on all of them.

My 997 GT3 I bought in the winter of 2007 cost me approximately £80,000. In 2009 I sold it for about £59,000.
Similar model on sale now on PistonHeads for £100,000!!

My Green 997 GT3RS, I bought for about £75,000 and sold for £67,000 in 2012.
This LHD (!) example is currently chancing it at £250,000!!

My red 997 GT3 Gen 2, one of my favourite cars ever, I bought and sold for £92,000 and £89,000 respectively.
There’s currently a LHD only for sale and it’s going for a crazy £130,000!!

If I had kept my Lamborghini LP560 and never sold it as I had back in 2012 (for £105,000), I could have driven it for free for another 3 years and it wouldn’t have lost a penny.
Here’s one going for exactly the same price and if I were any wiser I’d say that it were the identical car!

Don’t even start me on my 996 GT3 RS. I sold that car for about 80k in 2004.
Here’s another one for you, snip at £229,950.

So. We have a new metric now as to what cars cost me. I used to feel quite proud about being able to jump in and out of cars without it costing me too much in depreciation. I would try to buy and sell smart. But with this information at hand, I can now calculate a total loss of….hmm, £405,000.

Aside from the mental breakdown I’ve just had, another side effect of this is that buying cars today is a complete lottery. I struggled to get a good price on my super rare, super excellent condition Alpina C2 when E30 M3s are on sale for £90k!. Yet today, I’m looking at GT3s and they are simply out of reach. Despite a plethora of examples available (53 on Pistonheads alone), they still appear to be commanding top dollar, with prices fluctuatuing between £140k and £190k. I can understand a car price boom on cars that are rare where demand outstrips supply, but when we have a surplus of stock I can’t help but feel that this is a bubble that appears poised to burst.

It’s also turning these cars into garage showpieces. Remember the time when you’d see nothing but 911 GT3s on track? Good luck with that. Current owners aren’t enthusiasts anymore and you’re more likely to see them on instagram or Knightsbridge toasting marshmallows for the car paparazzi than actual, true petrol heads.

Who knows what’s going to happen in the near future. Many people are claiming that those who have successfully landed an order on a 991 GT3 RS or a Cayman GT4 have essentially been given a blank check for £50k. Seems the craze has affected Porsches more than any other car, but when you see phased out Mercedes still commanding list prices (£55k for a 507 C63, or C63 AMG Black Series for £95k) and BMW M3s asking uncharacteristicly high prices (Up to £45,000 for 2013 models).

Buying a premium luxury car is a bigger risk than it’s ever been. My luck dictates that the moment I buy a car, there will be such an almighty explosion to the market that I’d be the one picking up the pieces.

0
  • Joe

    You should still buy a Gallardo. Prices may decrease over over time but overall your bang for buck will be there like owners that have 360’s. It the first proper baby Lamborghini and to many it’s better looking than the Hurican – and as tech progresses, cars get faster but often lose that raw driver feel. This is probably why your excellent taste in cars has been so in demand; people are losing something that new cars can’t provide. May be you should break a habit and keep one for longer than a year – it could turn out free motoring or actually make you money. They aren’t making Gallardos any more and look at 360 prices after the “I want the latest toy” craze has gone – enthusiasts want them as supply of good stock decreases over time.

    • Actually that’s the most sensible option, at least it seems where the safe money is.

      Also agree, the Huracan hasn’t had the impact on me, still think the LP560 is an incredible car.

  • greg

    Just get yourself tesla motors stock, wait 7 years and worst cause scenario you will get 80% return on your investment… But hurry up!!

  • Simon

    I’ve been testing the waters off and on for the past few years, and as I predicted, prices for the Diablo are finally going up. So while I wait for mine to reach 25 years of age, so I can import it here in the US, it will be restored.

    If I were to buy something now, it would be the 2008 Gallardo SuperLeggera. Rare enough, loud and raw, and prices remain stable, if not rising. Other contenders would be a SuperFormance GT40 which is well sorted, which would actually make a good track car as well.

    I was somewhat surprised the Porsche 964 and 993 going up in value like crazy the last year.
    Investment wise, E38 M5 might be a good bet, E39 M5 as well for a good one.

    There are a few other models of somewhat older cars I’m keeping my eye out for, which I expect to go up in the years to come.

    Choices choices…

    • It’s a dark art that involves the blood of puppies and gazing into crystal balls. There’s no logic to it.
      I’m enquiring about GT4 Caymans at the moment and some people are asking for £40k overs. FOR A CAYMAN.

      I don’t fancy playing this game really.

  • Cem K.

    That’s it, I’ve decided, market’s still screwed. Saw an RS 4.0 in the USA for $500,000

    • Simon Malisse

      They were never cheap, always rare, so no surprise there. It’s tough buying a car you can drive, and yet not lose money on. Most require you to buy now and own it for 5-7 years before they go up in value. I remember 10 years ago, you could buy the Aston’s from the 70s and 80s for 35-50K GBP, because everyone thought they were ugly and heavy… Beside it being a serious investment, storage is a major issue (where do you store 5-6 cars?) if you want to own some investment cars… Have you decided what KIND of car you want (I’m thinking you’re after RS-like trackday specials) ?

      I’d say, look at this: http://www.gt40racing.com/GT40/Home.html

      These guys build race versions of the GT40, but i’m sure they can take a “normal” GT40 and make it trackday-proof, which would be what you’re after?

      Then just pick a paint scheme (Gulf if you like) and you can be Jacky Ickx ;-)

      • Cem K.

        As nice as that is, it’s simply not me. I spent the weekend at Porsche again and it seems my GT4 order may have been properly secured now, so that’s something I’m very excited about. Also been given an option for a ‘list price’ GT3, but that’s still £110k +.

        Was with a friend in his new GT3RS – he’s already been offered £300k for it, but don’t take my word for it…..

        http://www.pistonheads.com/classifieds/used-cars/porsche/911-gt3-991/uk-gt3-rs/4742067

By Daniele Zedda • 18 February

← PREV POST

By Daniele Zedda • 18 February

NEXT POST → 34
Share on