The Porsche market is an ever-changing landscape. As external factors such as personal circumstance, a desire for change or the broader economic picture act on buyers and sellers alike, sentiment is redirected and what was once a desirable item can drop off the list of must-haves.
There is no doubt that prices at the very top of the classic Porsche market have softened in the last twelve months. Meanwhile, continued demand for the low supply of affordable (sub-£50k) air-cooled classics is helping to protect prices for those cars from sudden drops. Porsche cars sitting in the middle are affected by the tide of opinion, with some potential buyers expecting prices to sink rapidly, based on what they read in online forums and so on. Our take on the market is less catastrophic.
It is unlikely that prices for good condition classic 911s will ever return to 2011/2012 levels, as they were undervalued around that time. The days of £10k 911 SCs and £30k 964 RSs will never return. That said, overly optimistic asking prices for long-standing stock keeps buyers on the fence, awaiting huge price drops that are never going to come. Those who genuinely wish to sell their cars must encourage buyers to engage, and help ease consumer uncertainty amidst the distractions of the EU referendum, the US elections, news of the migrant crisis and more.
Price is not the only consideration, but the inescapable truth is that buyers are always looking to achieve the most for their money. JZM Porsche is here to sell cars, so we are proactive in setting realistic prices and have recently repriced almost all of our stock to support buyer confidence. The approach has paid off, with a steady stream of enquiries.
In support of sellers, it is true that Porsche is not making any more 968 Club Sports, 3.2 Carreras, 997 Turbos or any of the other great cars that have come out of Stuttgart. But, away from the very rarest models, sellers keen to cash out of their Porsches must be aware of current market conditions. Overly ambitious prices for average cars will not make the phone ring: sellers should keep a sensible head when pricing their Porsche for sale.
Rest assured that we are not suggesting sellers should give their car away to the first low-ball bidder, but both buyers and sellers must be realistic in their expectations. An alternative option is to hold the car back to see how the market develops; the longer term market always bodes well for sellers.
Email sales@jzm.south.co.uk to discuss your classic Porsche for sale: we are always delighted to talk Porsche sales.
