986 prices are going up?! - 986 Forum - The Community for Porsche Boxster & Cayman Owners

porscheracer · 01-24-2007, 09:32 AM

Yesterday I checked the current price for a used 986 Boxster (97-99) in Autotrader and notice a remarkable trend. The prices for a used 986 are rising! I also checked with a local P shop and the nice salesman confirm. no joke
I have no idea why? Perhaps, P owners prefer the styling of the 986 vs 987?
e.g. 993 vs 996.

Perfectlap · 01-24-2007, 09:38 AM

please post data

the upturn of 993's is well known but all water cooled Porsches seem to be losing value at the usual rate. The only exception seems to be the CaymanS and maybe the RSR 997 if they actually ever get around to selling them here in America.

blinkwatt · 01-24-2007, 10:22 AM

I haven't seen any facts or studies that show that prices are rising but I think you may be onto something. I'm looking for a 996 for my dad and in doing so I run across alot of Boxster when I search around. I can remember seeing 99' Boxster like mine run from $17-21k last year,a big price window,lately the window I have seen for a 99' is $19k-23kish?!?!

Brucelee · 01-24-2007, 10:28 AM

I would be astonished if there were a real trend of increasing prices for the 986. I would LOVE to see data to back this up.

Marc Gelefsky · 01-24-2007, 10:45 AM

I'm sure the prices will continue to plummet

MNBoxster · 01-24-2007, 10:56 AM

Hi,

I doubt it. There are several Boxsters out there in the ads which are overpriced right now, but I don't believe the market overall has somehow upticked...

Happy Motoring!... Jim'99

z12358 · 01-24-2007, 11:37 AM

The depreciation of any car slows down with age. As the Box enters its 10th year of production the rate of depreciaiton becomes small (depreciation flattens out) and it becomes comparable to the normal noise level of prices. What you have observed may be just the normal noise (variation) of prices which becomes more noticeable with flattening depreciation.
Z.

racer_d · 01-24-2007, 11:47 AM

Advertised prices and Actual sale prices always differ. I doubt the '97-99 will see a rise given the bad rap the earlier cars got. Like a 914 1.7, they will always be the "least desirable" of the lot. I am not saying they are bad, just that later ones were better.

KevinH1990 · 01-24-2007, 12:58 PM

There is usually about a 10% gap between asking and selling prices, so asking prices may not provide good data upon which to draw conclusions.

I’ve checked the pricing guides for my car (2000 base bought for $21,250 in March 2006 with 30k miles) and all of them have shown a decline. Here is the data on my car when I purchased it:

MSRP - $ 48,516.00

Price Service Trade-In / Private / Dealer
Edmunds $19,218.00 / $21,545.00 / $24,112.00
Kelley $20,150.00 / $23,835.00 / $27,635.00
NADA $22,575.00 / $24,200.00 / $25,825.00
Consumer Reports $22,850.00 / $24,500.00 / $26,150.00
Average - $21,198.25 / $23,520.00 / $25,930.50

Since I paid pretty close to the Edmunds private party cost for the car, let’s use that price for a comparison. The Edmunds Private Party price is now $19,753. (It would be even less if I factored in the 7000 miles I’ve driven it.) So, I imagine my car could be purchased for about $2000 less than what I paid for it last March. I wouldn’t sell it for that amount, but someone else might sell a similar 986 for that price.

The point is that there are so many Boxsters for sale that the prices will keep declining. I think the rate of decline will slow, but it probably won’t stop going down until the cars sell in the $10-12k range.

A used Boxster is an outstanding value for a buyer. If you buy a new Boxster, you need to be prepared to absorb the depreciation.

MNBoxster · 01-24-2007, 01:13 PM

Hi,

One thing which depresses prices are cars coming off-lease. These are usually only 2 yrs. old and low-mileage. I've seen an article where Porsche estimates that Lease companies represents 25% of their Boxster sales annually. This will insure that the market is readily supplied with used Boxsters for some time to come...

Happy Motoring!... Jim'99

djomlas · 01-24-2007, 01:34 PM

i think that the 986 price will continue to go down as the 987 gets older, because for instance someone may say that for a price of a 02 or something like that with low mileage u can get a 987 with higher mileage or something along those lines as more and mroe 987 accumulate mileage

jasonpoteat · 01-24-2007, 03:35 PM

rag tops always take a hit in the winter months and sell a little higher at the first of spring. Same as boats and motorcycles. December is a great time to buy any of these 3 items.

Duster · 01-29-2007, 08:34 PM

Check out the Sept. 2006 issue of Excellence, specifically the market update on the 986 (Base). It seems that MY 2000 pricing has gone up for 2006.

Low pricing for 2005: $15021
Low pricing for 2006: $16326

High pricing for 2005: $22863
High pricing for 2006: $24850

I wonder why only the MY 2000 prices have gone up and all the other MYs including the "S" have stayed down?

yellowboxster01 · 01-29-2007, 10:26 PM

I bought my 01' before Christmas with 20K miles on it for $22K. That's the lowest miles I had seen on one for the price. I'm very pleased with my purchase. I was originally looking for a 993 but, after attending Palooza this last year the Boxster really grew on me. I love everything about it except, the lack of interior room but, that comes with the territory. I think I can live with it.

jl1252 · 01-30-2007, 12:19 PM

This is my first post, wow. I've been lurking for a while and absorbing all that I could.

Anyway, I purchased an 02 986 this past December from a local Porchse dealer. I must say that I was apprehensive at first this being my first Porsche, but when I first saw the car in an ad I was amazed. The posted price was $29k but lowered "for today only" to $19k. I figured it was the "teaser car" just to get people on the lot, but I went to look at it anyway.

I found it had 55k miles on it and figured that was a little high for my liking. I took it for a test drive and was hooked. I bought it for the advirtised price of $19k, and added an extended warranty to take me to 80k miles. Out the door price was around $25k with taxes and such. I think I did ok.

The only issue with the car was the previous owner had used an abrasive cleaner on the black plastic parts in the interior, which I replaced (center console, and all trim pieces around AC, radio, etc, and new L/R heater/AC vents) to the tune of about $1200 (installed).

Jeff

racer_d · 01-30-2007, 01:48 PM

Quote:

Originally Posted by Duster

Check out the Sept. 2006 issue of Excellence, specifically the market update on the 986 (Base). It seems that MY 2000 pricing has gone up for 2006.

Low pricing for 2005: $15021
Low pricing for 2006: $16326

High pricing for 2005: $22863
High pricing for 2006: $24850

I wonder why only the MY 2000 prices have gone up and all the other MYs including the "S" have stayed down?

Because 2000s are the BEST, obviously

I grabbed my MY2000, Speed Yellow/Black, 18"sport classics with 40K miles back in November '06. Guy was asking $18ish.

I think the upkick for MY 2000 is they are the first ones that don't have the bad rap the '97-99s had, plus they had a small HP gain (2.7l with 217hp) vs the early ones (2.5l 201hp)

racer_d · 01-30-2007, 01:51 PM

Quote:

Originally Posted by jl1252

This is my first post, wow. I've been lurking for a while and absorbing all that I could.

Anyway, I purchased an 02 986 this past December from a local Porchse dealer. I must say that I was apprehensive at first this being my first Porsche, but when I first saw the car in an ad I was amazed. The posted price was $29k but lowered "for today only" to $19k. I figured it was the "teaser car" just to get people on the lot, but I went to look at it anyway.

I found it had 55k miles on it and figured that was a little high for my liking. I took it for a test drive and was hooked. I bought it for the advirtised price of $19k, and added an extended warranty to take me to 80k miles. Out the door price was around $25k with taxes and such. I think I did ok.

The only issue with the car was the previous owner had used an abrasive cleaner on the black plastic parts in the interior, which I replaced (center console, and all trim pieces around AC, radio, etc, and new L/R heater/AC vents) to the tune of about $1200 (installed).

Jeff

How did you go from $19K to 25K (must be a LOT of txes "and such" in California?) then spent another $1200 on interior parts so.. approx $27200 for an 02 with 55k miles.

wanna986 · 01-30-2007, 02:41 PM

Quote:

Originally Posted by jl1252

This is my first post, wow. I've been lurking for a while and absorbing all that I could.

Anyway, I purchased an 02 986 this past December from a local Porchse dealer. I must say that I was apprehensive at first this being my first Porsche, but when I first saw the car in an ad I was amazed. The posted price was $29k but lowered "for today only" to $19k. I figured it was the "teaser car" just to get people on the lot, but I went to look at it anyway.

I found it had 55k miles on it and figured that was a little high for my liking. I took it for a test drive and was hooked. I bought it for the advirtised price of $19k, and added an extended warranty to take me to 80k miles. Out the door price was around $25k with taxes and such. I think I did ok.

The only issue with the car was the previous owner had used an abrasive cleaner on the black plastic parts in the interior, which I replaced (center console, and all trim pieces around AC, radio, etc, and new L/R heater/AC vents) to the tune of about $1200 (installed).

Jeff

Not an "s" , right Jeff?
I'd have gotten severely ripped off if you say yes!

jl1252 · 01-30-2007, 02:52 PM

No, its not an S. The "out the door" price climbed to around $25k with the extended warranty ($3k) + 8% sales tax. Maybe I didn't do as well as I thought. I usually don't fall into the extended warranty trap, but this being my first (and probably not the last) Porsche, I wanted a little piece of mind with a car with a bit higher milage, plus the warranty I bought was pretty comprehensive. Plus, the car passed 100+ point inspection, the dealership had just done the yearly service, put on four new tires, and the service records showed that the car had had its 15k, 30k, and 45k services, as well as all of its yearly services.

I asked the dealership to eat part of the cost of the replacement interior trim pieces, but they weren't biting as there were two other people in line behind me wanting to buy the car if I chose not to.

Oh, well. Live and learn I guess. I don't really care as I love driving the car.

Jeff

porsche986spyder · 01-30-2007, 03:10 PM

That's all I have to say. Millage! It all depends on how many miles are on the car. You can have a new car with allot of miles on it that sells for a really cheap price. And vice versa, a older Boxster with very little milage that will go for a pretty good price. No one wants to buy an old car with tons of miles on it. This is what I've noticed as far as pricing goes.