924Board.org

[D Hook]

The galvanized body of the 924 makes it a more worthwhile bet to me. I would still rather have a nice handling, underpowered 924 than deal with rust issues of the older model Porsches. THAT'S some serious money when dealing with repairsm that could be used to make a quicker 924, if one was so inclined. And the $3500 928's still have rust issues around the rear windows, even if they DO run.
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'80 924 n/a SOLD

[Paul]

10 years ago most 914s were worthless since they were rusted so badly they were unsafe to drive.

As with the 914, excellent examples of 924s will increase in value over the next 5 to 10 years.

In the last 5 years, I've seen more 924s on the road than 914s.

BTW I've owned and enjoyed several 914s.
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White 87 924S "Ghost"
Silver 98 986 3.6l 320 HP "Frank N Stein"
White 01 986 "Christine"
Polar Silver 02 996TT. "Turbo"
Owned and repaired 924s since 1977
Porsche: It's not driving, it's therapy.

[mhart]

I don't know if our cars are increasing in value, but in the future, I predict they will

if for no other reason than there's nowhere to go but up...

In the meantime, I'm going to keep enjoying my 924S a) because its fun and its really rewarding to see it come together and b) because its the best toy car I can afford right now. Down the road, maybe I'll move up to a 944, boxster, old 911, or maybe a 1980's ferrari (another undervalued sports car imo) but for now, I'm going to keep putting the S back together and either this fall or next summer, I will be hitting the track. Hope to see y'all out there
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'87 924 S - No sunroof and a few modifications

[dpw928]

Peter,

If you keep calling Vince and I kids we may start believing you.

Dennis
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81 931 5 sp
78 928 5 sp Silver
78 928 AT Euro Black

[Rasta Monsta]

Well, I mulled over Peter's thinly veiled diatribe, and would have this to say:

I have owned both a 914 and a 924.

The first car I lost in a divorce. It was a 1973 2.0 with all options...very nice car that I loved to drive. It had a very lumpy cam, dual Weber 44s, stainless exhaust, and rebuilt transaxle. It was ported, polished, had three angle valve seats, and swirl polished valves. It had about 100 hours of my time in it, and I loved it. It was fast, furious, and fun, and with the pristine white paint job and those factory alloys, it looked awesome. The wife sold it to a Porsche garage for $1000. Bad wife!

The second car, a 1979 924, I had to sell at a time I was crunched for cash. It was also a great car, but different. While slower, it felt more modern. Closing the doors sounded like a BMW, instead of a 63 Beetle (like my 914). In five years, it NEVER broke down, or had any problems. It was very comfortable, and drove very smoothly. It felt safe and solid.

So, during the last couple of months I have been looking for a new Porsche. I have looked hard at 931s and 914s across the country, on Craigslist, Collectorcartrader.com, Rennlist, and others. There was a really nice 914 in Portland (my home town) which sold a few weeks ago on Ebay for $4500. It was a 73 2.0, all options like my old 914. But the ad revealed all the same old problems. Leaks water in the rain, rusted battery tray, non-functioning gauges, and a hole in the rear trunk that let you see the pavement underneath. A desireable 914, but with all the typical problems. There is another local 74 on Ebay that looks nice, and that guy wants $4750. Same problems.

So, as some of you know, I eventually settled for an 80 931 with 52k miles, for $2500. Yes, it is worth more, but the seller was impatient. I chose the 924 because of everything I loved about my old 924. . .all I ever thought it needed was a few more horsepower. Problem solved! Despite my love & nostagia for my old 914, I feel I got a better vehicle than that 73 on Ebay. The 924 lacks the atrocious design flaws of the 914 (rusty battery tray, failing suspension consoles, just to name two severe ones), has more room, will never rust, and has. . .a hatchback. Yes, it can carry more than a week's laundry. . .and it might not be able to keep up with my old 914 at the track. . .but then again it might. With modern tires and struts/shocks, my old 924 handled like it was on rails.

What does all this have to do with the value of the car? Simply this. . .the 931 is undervalued for what you get compared to other 20+ year old Porsches. Will the market ever reflect this? Who knows.

But more importantly, WHO CARES?

Porsches ain't for sellin, baybee. They are for DRIVING. And the soft market for 924s is what got me my beautiful new turbocharged Porsche for chickenfeed.

All hail cheap 931s!

rasta

[Peter]

The topic of this thread was the market value of our cars, not “I like my 924 better than any other Porsche, so there!!!” This point has been missed somewhere.

The value of the 924/931 is based on its desirability to the general public who will buy the car. Desirability is based on many factors dependent on the buyer, but for a 30 year old Porsche sport car, we can narrow it down to a few groups of buyers. Who buys a 924/931 determines its desirability and thus its MARKETABILITY.

(1) A classic car collector. A few collectors may have a 924/931 in their stable of cars, but this is very rare situation. Furthermore, concourse examples of these cars don’t change hands enough to affect MARKETABILITY. The 924 was also not well received in America. It was severely criticized in the press and did not sell well in the US. This deflates collectability. In Europe it was a great success, lasting until 1985. A collector, like Jay Leno, may buy a 924/931 just for the mere fact that he has so much money and so many cars that he wants to complete a set. But how many Jay Leno types are there. If any knows of collectors rushing to buy 924/931 cars, please let us all know.

(2) Young adults: This group usually has limited financial resources. They want a sports car and are willing to spend their time rather than their money to “fix-it-up.” This is a huge majority of the 924/931 market, but these people don’t have the financial buying power to significantly influence the market as they purchase the often stated “$500 Porsche 924.” Look at the For Sale section of this Board, Ebay, Pelican, Rennlist, etc to see how little (and often in what poor condition) these cars are sold for. However, even this market is going to the 944 & 924S models, because the 944/924S models are a step up in performance and handling over the 924, and have dropped significantly in price. These models are generally better maintained and also have a spec racing series dedicated to them; thereby, making them more desirable and thus more MARKETABLE.

(3) The Track Junkies (AX, DE, Spec series, etc): This is the most influential segment because these buyers have money. This group usually has the disposable financial resources to purchase the car, repair the car, and to purchase performance parts to make the car track worthy. This group also keeps in business the performance tuners, which segment is severely lacking for the 924 as compared to say…the 914 model. The costs do not end with purchase & repair. It is NOT cheap to attend track events with any form of regularity. PCA/NASA/SCCA, membership fees, track fees, hotel, food, gas, time off from work, parts, towing, etc. A 924/931 is a GREAT introductory level track car: I have tracked mine since 1999; however, it is limited in its ability to be upgraded to any significant degree of power without pricing itself into another model of Porsche. Thereby, unless you are in a series into which the 924 is competitive, this group will look to another model or make of car. Thereby making the 924 less desirable than other Porsches. Translation, the 924 is less desirable and its value will not increase (factoring out inflation, because inflation causes everything to increase in price) as compared to other Porches.

(4) Daily Drivers: This is a unique and rare group. Very few persons, EXCLUDING those in group two, buy a 30 year old 924 to a be a daily driver. There are so many better cars for daily drivers. In fact, several members have posted that they are selling their 924 to buy reliable daily drivers. For example, Timstar (sp?) sold his 924 to buy a reliable daily driver, a 944. Diesel appears from his post to be selling his 924 to buy a car he could use on a more regular basis. Search the For Sale section as there are others.

The 914 has been compared to the 924 as a car that has increased in value and thus, the 924 will also increase in value. However, the 914 is a more desirable car and thus more MARKETABLE car, resulting in a higher resale price. Although the 914 has rust & other problems (the 924 also has its share of problems --read the Board!), the 914 is a cult classic. The first mid engine air cooled Porsche. It appeals to the collectors of group one just for the fact it was the first, and until the Boxster, the only mid-engined Porsche (not including race cars).
The 914 also appeals to the second group, the younger buyers with more time than money. However, because the 914 is priced higher than the 924, the 914 is too expensive for this group.
For the third group, the track junkies, the 914 shines. As previously said, this group has the money for the car, the rust repairs, the performance parts, and all associated track costs. Furthermore, the 914 has easy “bolt-on” upgrades. These includes dropping in a Porsche Sixer, a Jake Raby aircooled performance four, domestic V6 & V8, turbo charged WRX, etc. Suspension upgrades exist for the 914, just like EVERY OTHER Porsche model. Body mods exist, both in fiberglass, steel and aluminum. Please read some of the 914 Boards! Because the 914 car is easier and cheaper to upgrade in power than the 924, the track junkies turn to the 914 rather than the 924, driving up 914 prices. Desirability increases MARKETABILITY.

I am no NEWBIE with a few posts to the 924 Board or the 924/931 series. I have been a member of this Board from when it was the older 924 Board. I have owned one 924 and two 931s and presently I am down to one of each. I have tracked my 924 regularly since 1999, and am very familiar with the pros & cons of the 924/931 series. However, my enjoyment of these cars, along with others enjoyment of these cars, does not significantly affect the price of the series because the public at large does not deem it a desireable Porsche. Thereby, its marketability is low and its value is low. I am sorry if some cannot come to grips with its low resale value, but this does NOT mean that the car is bad!
Lastly, I have neither called anyone any derogatory terms nor insulted anyone’s posts, and would appreciate the same courtesy. This thread deals with the MARKETABILITY of the 924/931 series. Replies along the lines that “My 924 is better than my 914/911/944 etc” or “I like my 924,” are irrelevant to the topic of MARKETABILITY. Once again, the topic of this thread is marketability, so if you DON’T CARE, DON’T POST!

[mhart]

while i will give you that that post was very well written and coherent, I'm going to stick to my "i like my 924" guns, if you will....

if for no other reason than we can maybe, slowly increase the marketability of the 924 by just talking on and on about how much we like it and how much fun it is to drive...like brainwashing almost haha
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'87 924 S - No sunroof and a few modifications

[Chrenan]

I stand by my earlier quote:

“Enjoy the 924 for what it is, because the money you put into any 924 is as gone as the money you drink in beer.”

This is absolutely true. Enjoy your 924 for what it is, a nice light sports car that leaves no bad after-taste in your wallet.

That being said, I think if we are going to see any rise in 924 prices, it will be within the next 10 to 15 years. Being born in 76, I grew up in the 80s. As a kid, I was more familiar with water-pumpers as Porsches than the 911, due in large part to the vast popularity of the 944 during the 80s in North America.

So when I got out of grad school in 2001 and started making some money, I got a 924. I always wanted a Porsche, and given the period I grew up in, that meant to me a water-pumper. I like doing my own tinkering, so I wanted a car that could handle my abusive mechanical skills, so a 944 was out. Thus, the 924.

Fast forward to 2006, my income has tripled since my first job out of grad school. I'm nowhere near the point where I could start really "collecting", but in the next 5 to 10 years, there will be another Porsche in the stable. What am I looking at? The cars I grew up with, rare examples of the 924 (GT, GTS, really mint NA), the 944S2 (again mint condition) and the 968 (preferably CS if I can get one into Canada).

If prices are going to go up for the 924, it will be my generation that pushes them up over the next 10 (maybe 15) years. Just like with the 60s muscle cars today, it is the folks that grew up with the cars that inflate the prices. The rare examples go sky high, and they drag the prices for the basic examples up with them.
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1987 951 - M193 Version for Japan

[flosho]

[Rasta Monsta]

[Tervuren]

I never found out about the 924/944 until early 2000. Whee/how I grew up - I for sure didn't know my sportscars or what they looked like. I just knew I liked them. I found out about the 944 at fourteen - and fell in love. Then someone let me drive theirs - and it was all over. I started saving, bought one several years later.

As someone who wants to own and drive many different models in the range - its my hope the prices don't bubble or rise too rapidly. I love the way these cars drive, and each is a little different experience.
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I tend to think differently.

[stevencrichton]

To be honest the fact we are all on this board is because.

A: We wanted to drive a porsche.. in the "what do you drive?" ..." a porsche" (also the point where you smile to the recipient of the answer)

B: Beacuse if we were really worried about our cars and the value. Each and every one of us would hardly ever drive our car, store it in dry storage with climate control out of the sun, wear porsche clothing head to toe and most likely never talk about anything on this forum apart from how our investments are accumulating value like they are stocks.

I would really hope that everyone underneath thinks this. I know it's nice to think a car will accumulate value, but the reality is unless it is an ultra-rare model, it is tin that will get less and less wanted as time passes. For instance my friends have just purchased a V12 jag XJS for quite a resonable cost. When upon purchase they realised for every 2(pounds dollars rand) they put in, the car itself will devalue by 2 more.

Sorry for the rant, I have been through a few classic cars and everyone always watches values like watching the clock at the end of a shift. Learn to appreciate the car, which is what any sports car is about. You know the plant your foot on the floor and feel your grip tighten as the roar barks out of the back.

Anyway... thats my rant... my car is not worth much I think the number plate is worth more than the car to sell, but I still smile when I open it.
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I had a diesel now own a porsche and my little pocket is crying in pain