Why is this '97 Boxster unsellable at $6900 ? - Page 3 - 986 Forum - The Community for Porsche Boxster & Cayman Owners

hushypushy · 10-21-2016, 05:23 PM

It's from Florida and he didn't list the VIN....that alone is enough to make me click the "back" button on that ad

The ad is just crappy. It's a big word salad brick of text, plus the pics are terrible and don't even show the interior at all. Porsches are all about options, and yet this guy didn't even mention one single option on the car.

Also, this is just conjecture, but I have the feeling the owner is not willing to negotiate on the price if it's been up for so long.

sugarwood · 10-22-2016, 03:49 AM

Why do you think flood?

thstone · 10-22-2016, 05:17 AM

Quote:

Originally Posted by sugarwood

Why do you think flood?

5 month ownership.
Out of state car (Florida plates still on the car)
Lots of repairs.
No VIN listed.
Hasn't sold for months and months.

Maybe just an auction flip but there is something going on ...

husker boxster · 10-22-2016, 07:10 AM

This is an interesting thread...

Don't the members harp at newbies about how they should look for cars that have had maintenance performed on them? I rechecked the stuff listed and other than the bra and wind deflector, it was typical maintenance stuff that newbies would be told to look for. If that stuff hadn't been performed and it showed up needing to be done on a PPI, the members would tell the newbie to run like the wind and find one that has this stuff done. Well, here it is. I don't think he should have listed the prices because it could elicit thoughts of a money pit, but listing the items w/o prices would be valid.

From the ad we don't know the ownership history but we sure do speculate. About the only things that haven't been suggested are locusts or pestilence. How do we know this person doesn't have a home in NY and FL? That would be a first for a New Yorker. Maybe the owner bought it in FL many yrs ago and kept it there but for some reason decided to bring it to NY to sell (fewer Porsches in NY?). All that's stated is the maintenance was done in the last 5 mo.

So what if the car was bought as a flipper? Isn't that the premise behind Wheeler Dealers? If the maintenance done to prep it for resale brings the car back to good condition and the price is right, why does it matter if the car is a flipper? I buy cars to resell as a hobby. My dad and I did it when I was in college 35 yrs ago and watching Wheeler Dealers inspired me to start back into the fun 5 yrs ago. Does that make me a bad or shady character? I'm upfront when talking to a customer about my intention to resell the car and then list what has been done to it. Then the customer can decide. BTW, I buy most of my flippers from outside NE. Sometimes I leave the out of state plates on. FL plates would tell a NY customer the car hasn't been thru harsh NY winters and salty roads.

I never list a VIN in any ad, esp not on CL. Scammers can grab that info and pics and off they go with their fake ads. If a potential customer wants that info, I gladly provide it.

Just wanted to add my $0.02. Maybe I added a quarter. Continue to flame.

MARTHA · 10-22-2016, 08:00 AM

Quote:

Originally Posted by husker boxster

This is an interesting thread...

If that stuff hadn't been performed and it showed up needing to be done on a PPI, the members would tell the newbie to run like the wind and find one that has this stuff done. Well, here it is.

Exactly, No one knows the true story behind the car and yet we're all speculating... I think the car belonged to his elderly uncle who is having to go into a nursing home and he gave the car to his nephew who has admired it. The poor ole man would be appalled if he knew that the nephew is attempting to sell his pride and joy to fund a Las Vegas golfing trip. I think the reason the car hasn’t sold a simply case of kismet.
.

particlewave · 10-22-2016, 08:25 AM

Yeah, I don't really get the maintenance complaints (other than listing prices - unnecessary).
The main issue is that it's just a terrible ad. Not enough pictures or details.

dghii · 10-22-2016, 08:40 AM

So much speculation for a 19 year old used car!

Let me solve this using economics 101
The car has been for sale for months.
The car has not sold.
The market has spoken...the car is overpriced.

Roger1965 · 10-22-2016, 10:30 AM

There was a roller with a blown engine/IMS failure on BringaTrailer and it got bid up to $3k before the seller decided to pull the ad and fix the engine.

So a car with a grenaded engine is worth $3k, but a runner with IMS bearing done is worth what, $5k? Seems weird.

dghii · 10-22-2016, 06:43 PM

Quote:

Originally Posted by JamesVM

Florida, hurricanes, and I almost bought a vette in a similar situation. Claimed he had the car 8 years, only 6 years old. About 3500 in receipts in a 90 day period (including carpet and new seats) ect. Very common for gulf coast states. A lot of under insured cars made it through with out getting salvage titled

Sent from my iPhone using Tapatalk

Dude,
Regardless of what it looks like on the weather channel, we haven't had a hurricane do anything of note in FL for over 10 years,

PaulE · 10-23-2016, 06:12 AM

In addition to previous thoughts, being somewhat local, I would add Hudson Valley Craigslist isn't a hotbed for selling a Porsche and there are quite a few there that it is competing with. The issue with the Hudson Valley Craigslist group is it covers a pretty wide and diverse economic and geographic area.

thstone · 10-23-2016, 11:06 AM

*** I called and talked to the owner today ***

Husker had a good point about all of the speculation so I picked up the phone and called the owner to find out the facts.

Owner has had the car for close to a year. He bought it in Florida where he spends part of his time. He recently placed a deposit on a $28K Carrera in Florida and then brought the Boxster back to NY to sell.

He said that the only significant problem with the car right now is that the top doesn't work and has been disconnected - so its a manual top. He thought that it was a cable issue.

He gave me a long run down of all of the repairs and their cost. He's trying to justify why someone would spend more than Blue Book for this car and the repairs are his only answer.

When asked why its taken so long to sell he said that he bought the car for $5500 and put $4500 into it, so he is trying to minimize the loss on sale. This is why he hasn't fixed the top problem - he can't financially pour any more money into a car that he will sell at a loss. He originally had the car listed at $8500 and it didn't sell. He has progressively lowered the price but felt that $6500 was as low as he could go and still afford the Carrera. He said that he had a lot of offers at $4000 but turned them all down, saying that he'll keep it rather than sell it so cheap. I asked if he keeps the Boxster, then what about the Carrera and he didn't have a clear answer.

So, here's why it hasn't sold:

1. Over-priced. KBB says $5300-$4800. No one is going to pay almost $7K at the start of winter in NY.
2. Over-invested. Impossible to get the money invested out upon re-sale.
3. Still needs repair. Could be the cable or it could be the top motor, or....
4. Inflexible. Owner set an unrealistic price that is still too high and he's not in the mood to negotiate.
5. A little contradictory. Does he have to sell the Boxster to buy the Carrera or not?

With all of this being said, the bottom line is that this car is overpriced and still needs the top mechanism repaired. The offers around $4K were probably fair and maybe someone will offer around $5K since it does have a lot of repairs already done. But according to what the seller told me, $5K won't be enough to get a deal done. At least not yet.

Anker · 10-23-2016, 11:22 AM

Give it a few more months and I am sure he will consider a fair selling price.

Patience seems to be the name of the game when buying Boxsters. :-)

Anker

sugarwood · 10-23-2016, 11:29 AM

I think he's owned it 10 years, and invested some money to sort it out before finally selling his baby.
FL plates since insurance is cheaper down at his winter retirement house.

MARTHA · 10-23-2016, 12:58 PM

Quote:

Originally Posted by thstone

*** I called and talked to the owner today ***

A man that went to the source... Thanks
.

particlewave · 10-23-2016, 02:15 PM

Quote:

Originally Posted by sugarwood

I think he's owned it 10 years, and invested some money to sort it out before finally selling his baby.
FL plates since insurance is cheaper down at his winter retirement house.

No. He's owned it for a year.

mikefocke · 10-23-2016, 02:32 PM

A car is worth only what a buyer will pay, not what the seller thinks.

Better pictures. Better text. Advertise in several Craigslists (there are 20 in NY state). Adjust price to $5999.

fanguy · 10-23-2016, 05:07 PM

Quote:

Originally Posted by mikefocke

A car is worth only what a buyer will pay, not what the seller thinks.

Better pictures. Better text. Advertise in several Craigslists (there are 20 in NY state). Adjust price to $5999.

Mike, I have for years questioned if that was correct or not. After many years of buying and selling I no longer entertain that philosophy. I buy things below their value on a regular basis. Both the seller and myself know the value. I buy below the value as their need for cash or something else is of more value at that moment and they are aware I’m buying at a discounted price. The objects value is not lower it just not as important to them at that movement. One of the biggest problems as you noted many sellers have all this emotional value which is not a factor of the true value range.

husker boxster · 10-23-2016, 05:13 PM

Quote:

Originally Posted by thstone

*** I called and talked to the owner today ***

Thanks for taking the time to clear up the mystery.

I can relate to his situation - I have a VW that I have too much money in to get it sold. But you start pulling that string and you can't stop. Luckily my bug conv will not depreciate, so maybe next spring the price will catch up to what I have in it. That won't be the case with this guy's Box.