[husker boxster]

Some people's calendars have never changed from July 2022 and they still think prices are bubble inflated. The frenzied buying of the bubble era got sellers into bad habits - they could sell anything regardless of maint, it didn't have to be clean, and for some reason they thought prices would always go up. Last yr, I saw a name brand dealer selling a high end SUV (Land Rover or Merc, forgot which) that had a filthy int but I guess they figured they had to get it on their internet lot ASAP and couldn't even spend 15 min to vacuum it.

But the bubble has burst even if some are clinging to the bubble era prices. I've been out of the Wheeler Dealer mkt since Feb '20 but I still watch Porsche prices from many sources. The trend I've seen lately on FB Marketplace is price reductions. Many cars haven't sold so the sellers are marking them down. When you do that, FBM shows the old price with a line thru it and the new price. For Porsches in the mkts I look for, there are now $5-7K reductions and even some $10K (I like to buy in the $30-40K range). For multiple reasons (economy, banks not loaning, etc), it seems buyers are on the sidelines right now. Maybe they're waiting to see where the bottom is.

It also appears to be the beginning of some tumultuous times. People aren't paying the high priced loans banks saddled them with during the bubble era, so now banks are repo-ing record #s of cars. Those cars are starting to hit the auctions.so there's about to be a seismic shift in prices as all those repos hit the mkt. Will those cars affect the Porsche mkt? Yes, to some extent. A high tide affects all boats, so a low tide will too. Interesting times ahead. We haven't hit bottom yet. I'll jump back in when we get to the bottom and start to bounce back up.

I'm still waiting for that 987.2 Spyder. There was one on BAT yesterday that I "owned" for 6 min, but the bids were so low it went RNM. Seller said bidders were close. I debated with the last 30 sec ticking away if I should up the bid by $500, but this one wasn't the spec I wanted so I decided to not bid. Wonder if that would've been enough? Probably not but the bids were market correct for an non-AC car. At the height of the bubble, Spyders were going for $80-85, now you can get several in the very high $50s.