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What's a better than new 924 worth today?
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Doodle  



Joined: 25 Nov 2002
Posts: 225
Location: Comox Valley, B.C. Canada

PostPosted: Sun Jul 22, 2012 9:07 am    Post subject: What's a better than new 924 worth today? Reply with quote

Over the years I have seen the members of this board trash the honest efforts of many who have spent a lot of time and money restoring these old 924's. So before I go and embarrass myself by asking a what will be determined by board members to be ridiculous amount of money for my car I'll ask the experts.

Not that it matters, I was involved for a couple of years with the original 924.org and registry which preceded this message board. So I have seen a few of these cars and owners come and go. Now it`s my turn to go.

Please note when rendering an opinion as to the value of my car that all of the info I provide can be backed up by original invoices. When I say better than new I mean substantially improved over original specification with virtually every moving and non moving part having been replaced over the course of the 10 years I spent restoring my car. The list of replacement parts and improvements is too long for me to possibly include in 1 post so here are some of the highlights.

Motor
-Andial, 9.5:1 pistons
-Cometic head gasket
-mildly ported head
-integral stage 1 new billet cam
-and everything else that goes with above has less than 5,000 miles on it since completed. Starts and runs like new.

Body
-Aftermarket sun roof
-All new interior
-Mars Red color coat with 4 coats of clear.
-bottom of tub re-sealed with rubber undercoat.
-4 speed transmission Dealer rebuilt

In all over $40K invested in parts and countless hours of my time over 10 years to complete. So go ahead boys, trash away but please offer an opinion as well as to what it might be worth.
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Pre 77.5 Mars Red
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daniel  



Joined: 18 Jun 2009
Posts: 686
Location: Sydney, Australia

PostPosted: Sun Jul 22, 2012 9:49 am    Post subject: Reply with quote

When I purchased my car it was close to the condition of yours but perhaps not quite there, it still had the orignal engine and gearbox (5 speed) but they were in fantastic condition. He asked $10000, I paid $6500 after 18 months for sale
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Over the top of skyline, total brake failure.... hit the wall at over 200 kp/h at the dipper, so anyone who has to brake for the esses is a pussy.
1977.5 Race Car, CAMS Group S Spec
1989 944 Cabriolet
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joejax  



Joined: 02 Dec 2009
Posts: 919
Location: Jacksonville,FLA,USA

PostPosted: Sun Jul 22, 2012 10:58 am    Post subject: Reply with quote

Wow! Sounds like you have a real gem there, tons of hard work and determination, attention to every detail, a labor of love, I am sure.

I have always been a firm believer that these cars, in their original pristine state, should fetch a pretty penny, rarity in it's purist form, should be worth something.

Yet, most would agree, no matter how much money and effort is put into a vehicle, it is only worth what someone will pay. Sad really, for I believe these cars are on the brink
of greatness, soon many will see what we have seen all along.

I look forward to many pictures and documentations of the outstanding work involved in such a fine restoration. Best of luck in all of your endeavours.
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Uhhh...you got any pics?
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emoore924  



Joined: 13 Apr 2004
Posts: 2822

PostPosted: Sun Jul 22, 2012 1:05 pm    Post subject: Reply with quote

I think the really good cars are making good money today. BUT they have to be exceptionally original or very special.

I think Brumos, or was it Champion, was selling a very original car recently. IIRC they were asking about 12k and it was on the market for a long time. I think the car (finally) sold for about 8K but don't quote me on that. If nothing else, they weathered the recent economic storm and ended with a sale.

As for your car, there are no pics and not that much detail, so you're making it hard to answer. But, I would say, in general, in the US, for dollars, the very, very best 924s are getting about 6-9k. Great cars are 3-5, average 1.5-3 and less than that are getting, well, less than that. 944s kind of cap the pricing.

These cars weren't selling *at all* a couple of years ago. But things have improved such that at least you can sell one if you're patient. But they really take the right buyer and the right price, and stick with it and you'll sell it...

GLWS
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CorsePerVita  



Joined: 25 Jul 2008
Posts: 1992
Location: Redmond, Oregon

PostPosted: Sun Jul 22, 2012 1:05 pm    Post subject: Reply with quote

I paid $3k for my wife's toofah which is in fantasticalastical shape. But I hear prices in aussie land vs here are very different.
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- 1977 Porsche 924 2.0 N/A (Trackday Project)
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- 1980 Porsche 931 (Daily)
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Khal  



Joined: 26 Sep 2003
Posts: 4872
Location: Sunny and lovely interior BC, Canada

PostPosted: Mon Jul 23, 2012 1:56 am    Post subject: Re: What's a better than new 924 worth today? Reply with quote

Doodle wrote:
So go ahead boys, trash away...


*shakes head sadly* It has nothing to do with "trashing", it's reality. And don't play the martyr, it's boring.

You can ask whatever you want for the car. Our opinions are obviously trash to you.

You will still only get about half the price of the equivalent 944, at absolute best, no matter what you feel or what we say.
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Doodle  



Joined: 25 Nov 2002
Posts: 225
Location: Comox Valley, B.C. Canada

PostPosted: Mon Jul 23, 2012 3:21 am    Post subject: Reply with quote

Thanks Khal for the "reality" check and your opinion of what the car might be worth. I don't see any where in my post that I asked anyone to render an opinion of me. Please check the definition of martyr.
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morghen  



Joined: 21 Jan 2005
Posts: 9095
Location: Romania

PostPosted: Mon Jul 23, 2012 3:47 am    Post subject: Reply with quote

Try selling it in germany, prices have gone quite high in the last years.
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Nobbi  



Joined: 24 Aug 2006
Posts: 1396
Location: Germany

PostPosted: Mon Jul 23, 2012 5:29 am    Post subject: Reply with quote

well.germany.Nice hint Morghen.If is has a aftermarket sunroof it is out of the business.Cam and headgasket? It isnt worth anythink without.
If it needs a rebuild gearbox it was dead before.A normal 4 speed gearbox (As my 1977 car has that i own since 23 years) is good for 300000km +-
If it is in exellent condition,with no cracks in dash,allnew interiour,Euro spec.bumpers.all original paint work,no dings or dongs ect. the max that you can get is about 11000.-euros
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NA 924 - april/1977- 4-speed-audi gearbox.
500.000 km with fun.....and new toy:Porsche 944 S2 Cabriolet.Other car Daimler c-class cabby,brandnew..Plus : DEUTZ 4005 tractor Built 1967
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Grenadiers  



Joined: 20 Feb 2007
Posts: 3222
Location: Nelson, WI & Prescott, AZ

PostPosted: Thu Jul 26, 2012 2:23 am    Post subject: Reply with quote

Was thinking about this post the other day. I put the black '81 turbo car out in front of our restaurant for two weekends. Other than a couple kids wanting the keys, not, only had one older gentleman actually ask about it. Lowered the price to 4200 dollars for the second weekend, no bites. We serve about 650 people a weekend. Lots of people that own toys, cars, vintage stuff know of my Porsche hobby here. Not a bite.

Even my Craigslist ad over a two week period or so didn't even garner the usual scams! Hmpf! Plenty of hours and parts went into this car, and I think the 4200 is a fair price. So, unless the car is in the 2000 dollar range, most likely it's going to sit, here! Not that many 944's for sale in the area either, so not sure of the lack of interest.
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ideola  



Joined: 01 Oct 2004
Posts: 15550
Location: Spring Lake MI

PostPosted: Thu Jul 26, 2012 4:06 am    Post subject: Reply with quote

Better than new? Says who? By what measure?

Unless the modifications were performed by a licensed independent Porsche specialist, it is highly doubtful that most buyers would consider the modifications to increase the value of the car.

Originality almost always trumps modifications when it comes to value, and it is exceedingly rare that modified cars ever fetch a fraction of the cost of the mods. In the minds of those who actually collect cars and pay top dollar for collectible models, modifications -- especially performance oriented mods -- usually indicate that the car was driven hard (if not outright abused), only further diluting the value. And I'm speaking in general terms here, not specific to the toofah.

As for the 924, the very best, unmolested, all original, low mileage (<50K miles) rarely go for much more than $5000, at least as far as I've been able to track it personally. There have been a few museum pieces like the one emoore cited that have purportedly sold for more, but actual sales figures for cars like that from outfits like Brumos are rarely published.

Sad to say, but IMHO your modified car is probably only worth $2000-$2500 on the open market.
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CorsePerVita  



Joined: 25 Jul 2008
Posts: 1992
Location: Redmond, Oregon

PostPosted: Thu Jul 26, 2012 4:38 am    Post subject: Reply with quote

ideola wrote:

Sad to say, but IMHO your modified car is probably only worth $2000-$2500 on the open market.


Agreed. In short, I think it's safe to say that you could pour a 5 digit figure into these cars and it's easy to say that you probably won't get your money back out of it.

Same with a 944.

The 914 is going up in value in past years, but the 924 has yet to catch on in such a way. I think even if it did, you may still surpass cost of ownership and car vs sell value. I don't know if I could see one as a monetary investment. An investment in pleasure, in smiles per gallon? Absolutely.
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- 1977 Porsche 924 2.0 N/A (Trackday Project)
- 1979 Porsche 924 2.0 N/A (The other daily)
- 1980 Porsche 931 (Daily)
- 1987 Lamborghini Jalpa
- 1999 Ducati 900SS
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Grenadiers  



Joined: 20 Feb 2007
Posts: 3222
Location: Nelson, WI & Prescott, AZ

PostPosted: Thu Jul 26, 2012 6:36 am    Post subject: Reply with quote

I personally don't care for the 914, an 'acquired' taste! However, I see alot of them at the track down south. From oil burning stockers, 'spensive 911 owners hate these guys, to balls to the wall track rats, but no 924s, alas.
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Khal  



Joined: 26 Sep 2003
Posts: 4872
Location: Sunny and lovely interior BC, Canada

PostPosted: Thu Jul 26, 2012 11:00 am    Post subject: Reply with quote

CorsePerVita wrote:
ideola wrote:
Sad to say, but IMHO your modified car is probably only worth $2000-$2500 on the open market.


Agreed.


I just bought a very original '78 in daily-drivable condition for $1,500 (from The Island, as it happens).

Being a bit of a toofah tragic, I'm regularly on craigslist following the cars for sale. At anything over a couple of grand, they don't sell.

And I'll never understand the, "But I spent so much money on it," mentality

You can spend forty grand on a mid-90's Ford Escort and you know what it'll be worth? Yeah, that's right, about two grand.

Same deal with the toofah. Sad but true.

Picking up on Grenadiers' racing theme, me'n my buddy are pouring tens of thousands of dollars into a toofah track car. Not only do I not delude myself that it'll be worth even the tiniest percentage of what we spend on it, I can't even imagine anyone else wanting it at all! That money is gone. It's the cost of entertainment, pure and simple.

Believe it or not, I genuinely hope you get silly money for your car. It simply makes mine more valuable

But I also genuinely hope you didn't need your forty grand back for life-saving surgery or something...
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Grenadiers  



Joined: 20 Feb 2007
Posts: 3222
Location: Nelson, WI & Prescott, AZ

PostPosted: Thu Jul 26, 2012 11:28 am    Post subject: Reply with quote

Khal, tens of thousands? I bought the '88 924S for the 944Spec series, while we're in Arizona. I'm now thinking that buying someone elses 'project' or running car is cheaper in the long run. I don't have 'buddies', sniff, to work on these cars!
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