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Welcome Lew!
Just as a point of reference for price, I purchased my 2000 base 986 back in January for $10k. It had 67,000 miles. It was in excellent condition, always garaged, California car with all service records. I had been shopping for quite some time and had looked at a total of 3 cars: a 2002 S for $12.8k, a 1998 for $9K, and a 1997 for $14K. That last one was hugely overpriced. I offered him $12K since it had a new top, but he declined. I just helped a buddy buy a 2000 S model for $12K.
As others have pointed out, prices are all over the place on these cars. Emotions play a big role. Keep in mind that when these cars show up for auction here in New England, they generally go for $6-8k, depending on condition.
Since I bought the car, I have put around $8k into her: IMS, clutch/RMS, plugs and tubes, AOS, wheel bearings (the rears were shot), water pump, idler pulley, fuel filter, chain tensioners, drive belt, and just about anything else that was rubber or plastic. I would expect your potential purchase will need the same.
These are wonderful cars and exert a mystical hold on you once you drive them. Good luck!
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