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The initial value of the car needs to be based on dealer invoice, not MSRP, hence the word "profit." Something to note is Porsche mark-ups ($6K-$8K) are considerably higher than even BMW ($3K-$4K).
Options add about 10-20% value for every dollar spent, so realistically no value unless it's a drastic performance upgrade.
If you want to validate this, go to a site like Kelley Blue Book. The dealer invoice for a 2006-07 987 is $39,222, so you can gaurantee a private sale value (i.e., true market value or TMV) for one with zero miles is $38-39K. I just tested it, and the KBB value is $38,520. The rest of the depreciation comes from use and age, taking into account upkeep costs and replacement parts.
I've got a 2004 non-S. A couple options in the pot, along with dealer mark-up made the MSRP $49K (I bought it used 9 months off the lot back in 2005 for $32K from a couple going through a divorce). Regardless, the invoice that year was $37,121 which was the true value brand-new. The current value for a brand new one is $31,130, so the car technically only depreciated 16%, which isn't bad by any standard.
Take it back to 1998 when the invoice was $35,895, the TMV for a brand new 1998 is $18,325, or a 49% drop. A 51% value for a 10-year-old car is, in my opinion, very high.
For anybody who ever thought their non-S boxster was ever worth more than $36K, it unfortunately never was. Every dollar you spent above that was to fatten Porsche's very deep pockets.
Andy
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