This would be my advice, if you love DRIVING this particular Porsche, then go to step #2, consider the expense of running this car. Being that you are handy that shouldn't be too much of issue as there is a wealth of information on the SC forums. I follow Rennlist member
Wachuko's restorations and man does that guy do some awesome backyard work that comes out looking A+. See 83 911 to RSR project below
That being said, this a Targa. Maybe since you live So Cal that would nice. But being that you're someone that hits the track often, I would think that your only air-cooled car would have a bit more edge to it. If I were intent to own a project car/garage queen, I'd look for a car that I could turn into an RS replica. I'm making my way through
Total911's RS Book. Those replica cars are very, very sought after, and not to mention a blast to drive. For a guy like you, that can do much of his own work, that could be a great opportunity to build up a car. I'd have a hangar full of these projects if I had the space and time. In other words I like the idea of SELLING into this distorted market for air-cooled Carreras, I'm not at all comfortable with the idea of buying into it.
As far as pricing, I'll just say this briefly: *any* market that sees an dramatic jump away from its historical average, is not a market I trust one bit. Especially with what is going on in the stock market now. The jumping-the-shark in Carrera prices have coincided with the overly prolonged stock market rally. At the end of the day, these are used cars, not collector cars, thus they cast a wider net as far buyers beyond the super wealthy. A shake up in credit markets, could quickly shake up all these inflated prices. So I wouldn't put a lot of equity into all this "my car was worth X five years ago... bla bla". Good for you, you got a deal. The real issue is how best can you avoid this kind of market distortion to get what you want.
You seem to have found one of the best ways, the quick seller. The other way, a car that is solid engine wise, doesn't need any metal work but could use some attention in other areas may be a better way to reduce the over-crowded bidding pool. I think it's just like houses now, do you want to out-bid other house hunters in an over-bought market for a turn-key house or do you want to put a little sweat equity behind your cash and potentially reap a big reward later.
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