NE 964 Targa Sold - my experience

DaveMc · 26 Jun 2015

I just sold my C4 Targa and thought I'd share my experience. It had 126k miles with an engine rebuild and suspension refresh as well as lots of other work so it was very strong mechanically. Bodywork was good but a couple of small patches of rust and a few imperfections meant it would need some paintwork to be concourse - I probably made it sound worse than it was in the advert. I tentatively asked a couple of dealers and was offered 15k - that's all it was worth I was told, despite them having 28k-38k cars for sale. A couple of dealers were not at all interested because of the high mileage, but were selling 130,000 mile cars themselves. I advertised it on PH and AutoTrader and 911uk, and got some 1000+ views on each (only a few 100 on 911uk). I asked £24500 and got approx. 15 calls resulting in 2 serious buyers. It went for £22500 to a London guy who has budgeted 4 grand on a full re-spray to lift it's value. Specialist prices relate to condition (fair enough) and mileage. No surprise I guess but I'd rather buy a 150,00 miler car that was rebuilt or improved by an enthusiast over a 80,000 mile car that's just had oil changes all of it's life. I guess as 964s become collectable, mileage is more important. If you're selling yours, it will have to be priced dramatically lower than a specialist to tempt buyers away. Potential buyers were still very nervous about a private sale despite a saving of maybe 5-10k giving them some safety net.
I've loved having the car and have enjoyed runs out with the NE guys.
Good luck with your cars guys, I hope you continue to enjoy them.
Best regards
Dave

Gazc2 · 26 Jun 2015

Nice one Dave the new owner has got a good deal there I always liked your car not one of the more common colours and the only one I liked D90`s on :lol:

So what are you on the look out for now ? hopefully st ill see you around with the North East Guys

cheers

Gary

deutschland-dobson · 26 Jun 2015

:sad: :sad: :sad: Another one gone :sad: :sad: :sad:

They all seem to go to London?

It's been great driving about with you Dave

Make sure you keep in touch mind!

Chris

DaveMc · 26 Jun 2015

Gazc2 said:
Nice one Dave the new owner has got a good deal there I always liked your car not one of the more common colours and the only one I liked D90`s on :lol:

So what are you on the look out for now ? hopefully st ill see you around with the North East Guys

cheers

Gary

Thanks Gary. I've got a hankering for a TVR Chimaera - basic brutish Rover V8. Cheap and easy - no 4wd, Traction control or ABS. Must have a death wish

DaveMc · 26 Jun 2015

deutschland-dobson said:
:sad: :sad: :sad: Another one gone :sad: :sad: :sad:

They all seem to go to London?

It's been great driving about with you Dave Make sure you keep in touch mind!

Chris

Thanks Chris. Yeah London is where the money is. The guy who bought mine was a Porsche nut and had also just bought a 993 and had several other cars. I'd love to tag along to the odd future 911 run - might have to park round the back though and sit by myself

Gazc2 · 26 Jun 2015

DaveMc said:
Gazc2 said:

Nice one Dave the new owner has got a good deal there I always liked your car not one of the more common colours and the only one I liked D90`s on :lol:

So what are you on the look out for now ? hopefully st ill see you around with the North East Guys

cheers

Gary

Click to expand...

Thanks Gary. I've got a hankering for a TVR Chimaera - basic brutish Rover V8. Cheap and easy - no 4wd, Traction control or ABS. Must have a death wish

sounds like a plan Dave I was very tempted by a Cerbera 4.5 a few years back but had sold an hour before I went to see it , there is a tvr specialist from the North East ( cant remeber where) that advertises lightly damaged repairables on Ebay that look quite tempting at times a bit like old pork rusty chassis the big thing to look for good luck with the search.

This place http://www.ebay.co.uk/itm/TVR-CHIMA...369?pt=LH_DefaultDomain_3&hash=item3378b5ebb1

markg59 · 26 Jun 2015

Hey Dave,

Interesting write-up of your experience. I guess it goes to prove that all that price hype is just that, hype.

Stay in touch and let us know your next purchase - I'd like to think that (almost) anything goes when it comes to NE days,
Mark

DaveMc · 26 Jun 2015

Gary - yes it's in Ashington. I've been along. He repairs TVR and Lotus. A lot get written off with minor fibreglass damage. I love the Cerberas - they look insane, but am put off because they have TVR engines which seem more fragile.

Mark - thanks. Hope to keep in touch.

langers1970 · 26 Jun 2015

Great write-up this. Tells the truth that the dealers prices don't reflect. For once a voice of reason in this inflated, crazy market full of dealers asking silly money. Thank you for this!

Zingari · 26 Jun 2015

It's a gamble. If you had put money into it to turn it to near perfect then you could have asked and got more in my view.

The downside is buyers are always nervous of paying top money for cars that are being sold private and dealers will only entertain profits of £5k+ ontop of any money they will need to spend to prep the car for sale and offer a warranty.

Mileage will always be subjective and when I sell mine (likely next year) I will price it proportionately lower (circa 15%-20%) than an 'average' miles car of comparable condition although the price spread of these cars is all over the place. Having said that last week I sold a 128k C2 Coupe for near shy of £30k to a broker with no documentaion of a rebuild and it had £3k-£5k of work still to put in it. I can see it retailing at near £40k when sorted.

I saw a original 1990 964 Coupe last week with 22k miles on the clock and it needed plenty of work. I could only make it out once the smoke from the burning oil had cleared - so there's a top end rebuild to start with (to be expected) along with bodywork. I'd estimate £15k-£20k of work but the owner got it for a song so its easily worth the investment if they want to drop the dough into it or take an easy profit and sell as is.

NineExcellence · 26 Jun 2015

Zingari said:
It's a gamble. If you had put money into it to turn it to near perfect then you could have asked and got more in my view.

The downside is buyers are always nervous of paying top money for cars that are being sold private and dealers will only entertain profits of £5k+ ontop of any money they will need to spend to prep the car for sale and offer a warranty.

Mileage will always be subjective and when I sell mine (likely next year) I will price it proportionately lower (circa 15%-20%) than an 'average' miles car of comparable condition although the price spread of these cars is all over the place. Having said that last week I sold a 128k C2 Coupe for near shy of £30k to a broker with no documentaion of a rebuild and it had £3k-£5k of work still to put in it. I can see it retailing at near £40k when sorted.

I saw a original 1990 964 Coupe last week with 22k miles on the clock and it needed plenty of work. I could only make it out once the smoke from the burning oil had cleared - so there's a top end rebuild to start with (to be expected) along with bodywork. I'd estimate £15k-£20k of work but the owner got it for a song so its easily worth the investment if they want to drop the dough into it or take an easy profit and sell as is.

Market seems to be 50k at the moment for good condition 100k mileage ones. By that good paint and engine build.

Will be interesting re the mileage, since most of them are 100k+ on the miles. I have three 964 c2 myself :roll: , one in perfect condition (just had full Porsche restoration, full interior, engine, suspension, brakes etc with 130k mileage. The other two have only 16000 miles and 55000 miles only. Both of which I am gradually putting to new condition.

I find myself driving the perfect one at the moment, even though it is adding more mileage, but frankly since everything is new, the mileage doesn't bother me. Will it affect value, I suppose car will have more mileage in many years, but no plans to sell it - actually my son has already put his name on it.

Ken

igaffz · 27 Jun 2015

Hi Dave, I'd love a TVR, been tempted myself! If you get one I'm sure you'll be able to tag along! :thumbs:
Sounds like the guy from London got a bargain, I had a look on eBay the other day and there wasn't one 964 for under 30k

Ian

DaveMc · 27 Jun 2015

Yeah it's tricky. I was happy driving mine with a few imperfections but I would probably have done paintwork if it hadn't sold. I guess the answer is to get your car the way you want it and enjoy it - everyone is different. Don't worry about mileage/ price at the expense of not enjoying the car - just assume that they're going up while you have it.
5hit - I'm missing it already :nooo:

jack.pe · 1 Jul 2015

£4k will easily turn into £6k or more if the repaint is being done right.. at that stage the car will have cost him £28k plus and since he is getting the work done that seems quite fair and not a million miles off current prices for a good Targa C4 of that mileage. I don't care about miles but the speculators and collectors are the ones inflating and influencing the market right now, not true enthusiasts, so it does affect price.

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Porschekit · 1 Jul 2015

Just spotted this Dave, sorry to see you leaveing the Porschy fold for the moment....come and show us your new wheels when you get them...good hunting... :thumb:

John

NE 964 Targa Sold - my experience

DaveMc

Silverstone

Gazc2

Magny-Cours

deutschland-dobson

Indianapolis

DaveMc

Silverstone

DaveMc

Silverstone

Gazc2

Magny-Cours

markg59

Silverstone

DaveMc

Silverstone

langers1970

Spa-Francorchamps

Zingari

Brands Hatch

NineExcellence

Albert Park

igaffz

Albert Park

DaveMc

Silverstone

jack.pe

Monza

Porschekit

Suzuka

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