Is the worst time ever for used 996 sales?

[Hans Gruber]

I have recently and reluctantly listed my beautiful 996TT for sale at what I believed was a very reasonable price for a fairly quick sale, sadly after a month and having dropped the price by £3K already I have still had hardly a sniff and noticed that none of the other cars listed have moved either.

Personally I put this down to a combination of the disastrous effect of covid/furlough and the Ukraine war on the economy in general although I still firmly believe prices will rally helped in no short part to the frankly ridiculous push for EV's.

I wish I had any other option but to sell and know that whoever does eventually buy the car is onto a winner.

Does anyone else think the market is in a slump and why do you think that is?

Ps, she's listed on here if anyone is interested?

Here -> http://www.911uk.com/ads_item.php?id=11427

 

[porkchops]

IMO selling a 996 privately is extremely difficult unless your car really stands out/is a rare colour (GR or speed yellow). I went through the same as you on what was a really nice 2005 C4S in dark blue with lots of options years ago (well before covid etc) and at the end I had to sell it to a dealer...They sold my car 2 weeks later for 8-9k more....Porsche buyers are notoriously(rightly?) picky...they would look privately for a while but eventually tend to go to a dealer for the reassurance.

 

[spongebob squarepants]

I have recently and reluctantly listed my beautiful 996TT for sale at what I believed was a very reasonable price for a fairly quick sale, sadly after a month and having dropped the price by £3K already I have still had hardly a sniff and noticed that none of the other cars listed have moved either.

Personally I put this down to a combination of the disastrous effect of covid/furlough and the Ukraine war on the economy in general although I still firmly believe prices will rally helped in no short part to the frankly ridiculous push for EV's.

I wish I had any other option but to sell and know that whoever does eventually buy the car is onto a winner.

Does anyone else think the market is in a slump and why do you think that is?

Ps, she's listed on here if anyone is interested?

Looks a lovely car, seems very well priced, and manual, but no doubt it's just the miles that are putting people off. Although it's obviously low miles in reality. Getting close to the mystical100 k. Cars under 50 k miles are up for double the price. Not sometg8mg I've ever used but have you thought of CC or the like?

 

[Marky911]

Not sure about 'worst time ever" but it's definitely the worst time since before Covid.
Last summer was the time to sell. Now it's a case of seriously realigning your goals, price wise or hang onto it for a year or two.

Interest rate rises have definitely cooled things right off and the BOE have said they'll remain high for at least two years.

I hope you get a sale if you really must sell, but if I was you I'd just carry on enjoying the car for a couple more years. Good luck either way. :thumb:

 

[IMI A]

Try SOR via 911 Virgin if its a mint turbo with FSH and no previous major accident damage.

 

[coullstar]

Ive been watching the market for 996 for last 6 months as I keep thinking of selling mine.

I think the top end of them (£20k+) is not really selling privately for the reasons you pointed out.
The cars around £15k seem to sell, maybe people looking for a cheaper bit of fun or project.

I fear putting mine up to be honest as it literally is a triggers broom but have decided to not do anything for the moment unless circumstances mean I have to sell.

 

[Tyremanrob]

It's not purely an issue with 996s or Porsche in general but a wider issue about the fact that people don't need an old sports car they just want one.

The current interest rates, food prices and utility prices aren't only having an impact on the less wealthy but are starting to bite at most peoples heels.

My advice would be that if you don't have to sell then I wouldn't, see what happens with the financial world and the war and maybe things will improve quicker than the experts predict.

 

[Robbidoo]

Do you think perhaps your previous involvement in terrorism is putting people off?

 

[T8]

Your current asking price seems about right compared to similar cars on the market. The problem (aside from the economic crisis) is that there are a lot of similar aged/mileage cars around.

90k+ miles has always been a stumbling block when selling a 911 and for some bizarre reason that mileage on turbos seems to be a bigger concern than on Carreras, despite their well publicised potential engine issues.

911s aged 20+ years fall into the enthusiast owner category and, with so many Carreras around for c£20k, a £30k+ turbo is probably seen as a big risk - especially if buying privately. Those that specifically want a turbo would probably pay a lot more for a lower mileage and/or dealer sourced car.

If you're very keen to sell I think the only way, without giving the car away, is to find a Porsche specialist that will do a SoR deal. If you don't like that idea then see what they'll offer you for an outright purchase but be prepared for a shock. Either that or undercut everything else on the private market and hope that buyers then don't think that it's suspiciously 'too cheap'.

Good Luck

 

[G-996]

I recently sold my 2003 996 Carrera 4 with 91,000 miles in stunning condition (like yours) via Motorway, and found their sales process pretty slick and worked well for me.

I found official Porsche dealers were uninterested as the car was too old, even independent Porsche specialists were not that interested as their experience was these cars could be a hassle to get into good enough condition they would be happy to put a warranty on.

Unfortunately I expect the value you would achieve is much lower than your current advertised price. Webuyanycar is a good indicator of a trade price, and today the website values your car at £24,500. If you sold via Motorway I would expect you might achieve around that value. Unfortunately the market for 20 year old very high performance sports cars nearing 100k miles is a niche market.

 

[Gt3Owl]

💯 agree, I've had numerous enquiries video calls etc..no sale yet and I don't understand the market 😅

I'd say I'm a honest seller and have spent plenty of money on my 996 turbo but it seems its a buyers market and the moment.

I think mines well priced but there are some dogs on the market 5/10k above at dealers with no history and no quality ownership.

Hang tight the markets will come back, happy to keep otherwise 👍

I see the Mezger engine as a lower risk purchase (if its had the correct works complete) compared to some of the c2/c4/c4s which are nearly the same money 💰

People buying a Porsche always need to have abit in contingency cash, we have all owned one

 

[Magic919]

High miles 996 Turbo needs to be cheaper in the current market.

 

[Griffter]

Is it advertised elsewhere? I never had understood the point of advertising on owners forums, to people that have already got one (ok, and a tiny handful of potential buyers keen enough to sign up while looking).

Try Car and Classic (free), eBay, Autotrader etc.

I'd also be wary about listing all the work done. I get it, but how many potential buyers are going to think 'what next?"?

Looks lovely and well priced to me. Would you take £30k? (Rhetorical question). If so put it up at £29,995 no offers. Sad to say I think the market isn't going up...

 

[Shalmaneser]

Is it advertised elsewhere? I never had understood the point of advertising on owners forums, to people that have already got one (ok, and a tiny handful of potential buyers keen enough to sign up while looking).

Try Car and Classic (free), eBay, Autotrader etc.

I'd also be wary about listing all the work done. I get it, but how many potential buyers are going to think 'what next?"?

Looks lovely and well priced to me. Would you take £30k? (Rhetorical question). If so put it up at £29,995 no offers. Sad to say I think the market isn't going up...

This - and if it isn't selling it's too expensive!

It's not a great time to sell to be fair, can you hang on to it for spring?

 

[Parsley]

Price. Sadly it always comes down to price. Harsh but true.