Did you see April Sports Car Market?

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Jon Finkelstein
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Did you see April Sports Car Market?

#1 Post by Jon Finkelstein » Thu May 01, 2008 10:48 am

Hello everyone.

I have been a subscriber to Sports Car market forever. Great mag. Not sure how many of you also subscribe, so I thought I would draw your attention to the recent April issue which features a Glockler Porsche which sold for 616k. And inside, a 62B Coupe (1 owner, time warp car) sold for 101,750. This, of course, is unrepeatable. "An over the top price for a special car, but don't expect your driver quality coupe to see the same kind of price growth" says the auction report. Still, interesting nonetheless.

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Rick Cicciarelli
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#2 Post by Rick Cicciarelli » Thu May 01, 2008 11:30 am

$101,000 for a '62 coupe is rediculous....don't care if it was a 1 owner car. It is a fricken coupe. Unless it had F. Porsche's personal gold plated, hand crafted tool kit included with it, and he was that ONE owner. The speedsters have all ready gone far outside the price range that I'll ever be able to afford. I refuse to accept that any B or C coupe will go for that kind of $$$ (at least, not until I get my own...then the prices can go up as much as you want). :wink:

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John Alfenito
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Prices still going up...

#3 Post by John Alfenito » Thu May 01, 2008 11:53 am

The latest “Excellence” (June – Market Update) has some more good news for current owners. Not so good for buyers. The article's subtitle, “The 356: Still A Deal?” is a rhetorical question of increasingly expensive proportions.

I was personally pleased to see the B T-6 coupes begin what some have predicted to be a price-rise to match the C-coupes' price ascension.

Any way you look at the price insanity of these cars, I feel very fortunate to own one.
A car that actually goes up in value - what a concept.
I mean, it's not like you can hop in a Certificate of Deposit and drive it to Malibu (or wherever) on a nice weekend... 8)
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Did you see April Sports Car Market?

#4 Post by Dave Brenny » Thu May 01, 2008 12:01 pm

All,
I, too, saw those numbers in SCM but what was "unrepeatable" a couple
of years ago ($100,000 Speedster, as example) seem more commonplace
today. Certainly the Glockler Porsche will retain its value on account
of its history and rarity alone. The $100K C coupe seems wildly
overpriced now but in a few years may not seem so crazy. I think the
market is generally sinking for a lot of what are called collector cars
but early Porsches are appealing for their jewel-like quality, relative
economy to own and operate, and being darned fun to drive. Something
that so-called muscle cars never were and, as fuel prices continue to
escalate, are getting less desirable. It will be interesting to see how
the market shakes out over the next couple of years. I can envision my
kid still beating around in that 356 30 or 40 years down the road,
running 100% electrically, and still enjoying that marvelous piece of
German engineering. Where do you suppose that hemi-Cuda will be?
Dave Brenny
'64SC#218929

-----Original Message-----
From: Jon Finkelstein [mailto:jonfinkelstein@griplimited.com]
Sent: Thursday, May 01, 2008 9:49 AM
To: 356talk@356registry.com
Subject: [356Talk] Did you see April Sports Car Market?

Hello everyone.

I have been a subscriber to Sports Car market forever. Great mag. Not
sure how many of you also subscribe, so I thought I would draw your
attention to the recent April issue which features a Glockler Porsche
which sold for 616k. And inside, a 62B Coupe (1 owner, time warp car)
sold for 101,750. This, of course, is unrepeatable. "An over the top
price for a special car, but don't expect your driver quality coupe to
see the same kind of price growth" says the auction report. Still,
interesting nonetheless.

Jon[/list]

------------------------
Jon Finkelstein
64 SC Coupe
Reg # 18992




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Kevin Wiggins
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Re: Did you see April Sports Car Market?

#5 Post by Kevin Wiggins » Thu May 01, 2008 12:37 pm

Dave Brenny wrote:All,
I, too, saw those numbers in SCM but what was "unrepeatable" a couple
of years ago ($100,000 Speedster, as example) seem more commonplace
today. Certainly the Glockler Porsche will retain its value on account
of its history and rarity alone. The $100K C coupe seems wildly
overpriced now but in a few years may not seem so crazy. I think the
market is generally sinking for a lot of what are called collector cars
but early Porsches are appealing for their jewel-like quality, relative
economy to own and operate, and being darned fun to drive. Something
that so-called muscle cars never were and, as fuel prices continue to
escalate, are getting less desirable. It will be interesting to see how
the market shakes out over the next couple of years. I can envision my
kid still beating around in that 356 30 or 40 years down the road,
running 100% electrically, and still enjoying that marvelous piece of
German engineering. Where do you suppose that hemi-Cuda will be?
Dave Brenny
'64SC#218929

-----Original Message-----
From: Jon Finkelstein [mailto:jonfinkelstein@griplimited.com]
Sent: Thursday, May 01, 2008 9:49 AM
To: 356talk@356registry.com
Subject: [356Talk] Did you see April Sports Car Market?

Hello everyone.

I have been a subscriber to Sports Car market forever. Great mag. Not
sure how many of you also subscribe, so I thought I would draw your
attention to the recent April issue which features a Glockler Porsche
which sold for 616k. And inside, a 62B Coupe (1 owner, time warp car)
sold for 101,750. This, of course, is unrepeatable. "An over the top
price for a special car, but don't expect your driver quality coupe to
see the same kind of price growth" says the auction report. Still,
interesting nonetheless.

Jon[/list]

------------------------
Jon Finkelstein
64 SC Coupe
Reg # 18992




-------------------- m2f --------------------

To contact an administrator admin@356registry.com
To unsubscribe go to http://www.356registry.com/forum/m2f_usercp.php
Read this topic online here:
http://356registry.com/forum/viewtopic.php?p=4426#4426

-------------------- m2f --------------------

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Exactly right. Today you say insane, a year or two from now, who knows. Supply v demand - pretty basic.
Fight the Power!

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#6 Post by Jim Breazeale » Thu May 01, 2008 5:48 pm

Rick Cicciarelli wrote:$101,000 for a '62 coupe is rediculous....don't care if it was a 1 owner car. It is a fricken coupe. Unless it had F. Porsche's personal gold plated, hand crafted tool kit included with it, and he was that ONE owner. The speedsters have all ready gone far outside the price range that I'll ever be able to afford. I refuse to accept that any B or C coupe will go for that kind of $$$ (at least, not until I get my own...then the prices can go up as much as you want). :wink:
Rick

If you knew the whole story, you would not think it is so "rediculous" It was far more than a "1 owner" car. It was perfectly preserved and is probably the most perfectly preserved 356 in the world! In that sense, it is truly unique. Even more so than the Glockler that appears to be a complete restoration with little left from the original car. Coupes are going up in value at a higher rate than open cars simply because they have lagged behind for far too many years. I don't see a decline in prices soon, so buck up and get on the band wagon or take a second job. (wink, wink)
Jim Breazeale
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Guest

Re: Prices still going up...

#7 Post by Guest » Thu May 01, 2008 8:16 pm

There you go again, adding traffic to MY highway. :D And, of course, the June Excellence just arrived here in Baja Oxnard with no C.D. attached.

That said, I can't remember the year, but my good neighbors the Klings displayed a VERY nice coupe in SLO that is completely unmolested and very low mileage. It's red, I don't remember the year - it's a T6 B. I don't know and don't care what they paid for it, but, sad to say it was probably a LOT more than my modestly molested 64 Coupe would bring if I sold it. That said, much as I like it, for 100k I'd let it go. :P I'm NOT holding my breath.

John Alfenito wrote:The latest “Excellence” (June – Market Update) has some more good news for current owners. Not so good for buyers. The article's subtitle, “The 356: Still A Deal?” is a rhetorical question of increasingly expensive proportions.

I was personally pleased to see the B T-6 coupes begin what some have predicted to be a price-rise to match the C-coupes' price ascension.

Any way you look at the price insanity of these cars, I feel very fortunate to own one.
A car that actually goes up in value - what a concept.
I mean, it's not like you can hop in a Certificate of Deposit and drive it to Malibu (or wherever) on a nice weekend... 8)

Jeffrey Vogel
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my 2 cents

#8 Post by Jeffrey Vogel » Thu May 01, 2008 8:34 pm

I have been a subscriber since it was the ALFA market letter and used to enjoy reading SCM for irreverent take on the "hobby" .However these days it's become another venue of hype and tout. I mean they seem to have lost sight that the fun part of this hobby is using and abusing your sportscar not treating it like a NASDAQ stock. Their constant coverage of things
as "well bought" when a high price is paid recalls nothing but Jim Crammer on CNBC ranting about his picks. Give me a break, I just want to burn up some gasoline while I still can if that costs me $4 a gallon or $50,000 for a 356 so be it, but let's not let money ruin a good time.

Saw that happen to Ferrari ownership, it's all "**holes" now who only want to tell what their car is "worth" never what it will do. I'm afarid that 356 will be headed down the same path.,that's when I'll be getting a miata

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Re: my 2 cents

#9 Post by Rick Cicciarelli » Thu May 01, 2008 10:11 pm

Jeffrey Vogel wrote: Saw that happen to Ferrari ownership, it's all "**holes" now who only want to tell what their car is "worth" never what it will do. I'm afarid that 356 will be headed down the same path.,that's when I'll be getting a miata
I consider myself a nice guy...and if/when I finally get my hands on that really nice Ivory '62-'63 T6 B coupe I will certainly not be going around bragging how much it is worth. :mrgreen: I just think they are a beautiful car with a lot of character. Sure, I like a lot of the old muscle cars...i.e. 427 Cobra, and some of the old Corvettes....but I much prefer a fine glass of wine over a beer any day.

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Re: my 2 cents

#10 Post by Robert Kenton » Fri May 02, 2008 12:46 am

Jeffrey Vogel wrote:I have been a subscriber since it was the ALFA market letter and used to enjoy reading SCM for irreverent take on the "hobby" .However these days it's become another venue of hype and tout. I mean they seem to have lost sight that the fun part of this hobby is using and abusing your sportscar not treating it like a NASDAQ stock. Their constant coverage of things
as "well bought" when a high price is paid recalls nothing but Jim Crammer on CNBC ranting about his picks. Give me a break, I just want to burn up some gasoline while I still can if that costs me $4 a gallon or $50,000 for a 356 so be it, but let's not let money ruin a good time.

Saw that happen to Ferrari ownership, it's all "**holes" now who only want to tell what their car is "worth" never what it will do. I'm afarid that 356 will be headed down the same path.,that's when I'll be getting a miata
Respectfully disagree. SCM is entertaining, informative, and the one magazine I tear into the day it arrives. The only complaint is their perceived need to have a motorcycle feature every month, which is lost on me and many other subscribers (viewing their comments made @ time of their subscription renewal). It's Sports CAR Market, not Sports Motorf_____gcycle market!
Robert W. Kenton

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#11 Post by Martin Hirst » Fri May 02, 2008 3:23 am

For anyone looking for an alternative to a 911 the only Porsche that is not seen as second best is the 356, and the coupe, any coupe, is a great looking classic car. Together with the fact that that new Porsches are expensive cars and have an unrivaled reputation I don't find it surprising that the coupes are becoming expensive too.
1962 356B Coupe, Slate Grey
1977 911 Coupe, Minerva Blue

charles kourmpates

#12 Post by charles kourmpates » Fri May 02, 2008 10:23 am

Recently, A Convertible D, on ebay, sold for 105K.

An older "restoration." And please, someone correct me if I'm wrong, but I believe this Ivory car was purchased by European Collectibles?

Go figure?

Certainly there's many who benefit by the deliberate and accelerated inflating of these cars.

Glorify anything and it'll bite you.

Now these cars are out of the reach of average income individuals. I view this as unfortunate.

By the way, adverage income individuals can be a lot of fun. :mrgreen:

Smart creative marketeers, greed, availability, and inflated egos have always been a detriment to the Sports Car "collector." That's me, and I feel the pain. :shock:

But not a detriment to the marketplace!

Charles

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Did you see April Sports Car Market?

#13 Post by Roy Lock » Fri May 02, 2008 11:42 am

While I abhor the recent jumps in the prices of 356’s, there is possibly a silver lining in this. Raising values will justify resurrection of cars once deemed as parts cars.

I personally scrapped a ‘nice’ car by today’s standards. I did it just for the hardware and some body panels to restore my Roadster. The 62 Coupe I scrapped had a rusty floor pan and battery floor. Nothing else was wrong. I had bought the car for about $600 and didn’t think anything of it when the car went to the crusher. Would we do that today? Not at the current values.

356’s have international appeal. Dollar depreciation has made these cars unaffordable to us, but bargains to those living elsewhere. If the limited number of 356’s are spread throughout the world, then it will heighten the appeal and exposure of the type.

As Mark P says; Drive’m!!!!!
Roy Lock  
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62 S90 Roadster "Ole Blu"
63 S90 Sunroof Coupe "Fritz"
70 Dodge Challenger T/A "Pinky" 

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Values of 356Porsches-see Excellence Mag. June 2008

#14 Post by Bert Leemburg » Fri May 02, 2008 11:49 am

Hi Everyone,

It is very interesting to note the values "assigned" to our series of Porsche 356 models in Excellence, June 2008 issue. Especially in light of a headline in the local paper:

"Muscle car mania is dead, The sinking US economy ... is having its effect on the hobby car market."

It goes into detail and describes the Barrett-Jackson Auction as "disastrous ... there, owners spurred by greed and a little desperation put their cars in the hands of an auction house that had become so flushed by success that it demanded every car in the auction be consigned without a reserve. As a result, Barrett-Jackson could boast almost a 100 percent sales, albeit at the expense of sellers whose cars were auctioned for a fraction of what they had been led to believe they would receive."

So, the "bottom line" to my take is very mixed, do we really see a decline in values of our older Porsches, with the decline in the economy in the US? Here in oil-rich Alberta Canada it is still boom time, flush with the cash from the oil companies stationed here...

Cheers from "up here" and see you at the WCH in Squaw Valley!

Bert Leemburg
Bert Leemburg Air-cooled

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Re: Values of 356Porsches-see Excellence Mag. June 2008

#15 Post by Jim Breazeale » Fri May 02, 2008 12:26 pm

Bert Leemburg wrote:Hi Everyone,

It is very interesting to note the values "assigned" to our series of Porsche 356 models in Excellence, June 2008 issue. Especially in light of a headline in the local paper:

"Muscle car mania is dead, The sinking US economy ... is having its effect on the hobby car market."



Cheers from "up here" and see you at the WCH in Squaw Valley!

Bert Leemburg
I don't think the Muscle car mania is dead. I still love driving my gas guzzeling 67 SS 396 Chevelle Convertable around the Napa Valley on a nice day. The end of the "get rich quick" speculators might be gone and good riddance! The escalating values on our 356s has had an adverse effect on parts availability, though. The days of cheap, quality, plentiful, used parts are drawing to a close. "Parts cars" are now being offered on EBAY, Samba, Craig's list and even on our Talk list as "Project cars". Those cars arent even good "parts Cars" but are being sold to poor souls with unrealistic expectations of restoration costs and the unrealistic expectation of finding the parts that have been robbed of those pieces of S#*t. We still need parts cars to keep the fleet of 356s alive! Helloooooooooooooooooo.......

Regards
Jim Breazeale
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