The Porsche market has enjoyed a strong start to 2017, with a busy showroom here at JZM since January 1st. Buyers from all over the world have made offers on many of our cars and we have accepted a high percentage of them. Negotiations are proceeding on the rest!
Some cars sell quickly in the current climate. Gen II 997 GT3s and Turbos are in good demand, as proven by the recent sales of our Gen II GT3 and manual Turbo models, both of which sold before arriving in the showroom. The Turbo was inspected and test driven from our valeter’s workshop! Exciting times for high performance Gen II 997 machinery.
We do not sell the normally-aspirated 996 and 997 models, but we are big fans of the water-cooled Turbos. Enquiry levels for 997 Turbo, Turbo S and GT2/RS are certainly healthy and we are interested in talking to anyone who has a JZM-quality car available for sale. Similarly there is a nice level of interest in 996 and 997 GT3 and we are cash buyers of these cars when in the spec we are looking for.
We have a number of very nice 991 GT3s in stock. A recent price drop on our Guards Red LHD 991 GT3 brought a number of interesting enquiries, which we are currently working through. The RHD 991 GT3 market seems to be on pause at the minute, but this is not causing too much concern. We have plenty of other cars to deliver, our 991 GT3s are all very well priced and the air-cooled market will not restart until mid-to-late February, so we expect things to pick up for air-cooled and 991 GT3 in a couple of weeks.
The air-cooled 911 market will be a very interesting arena this year. With the Brexit vote and the US elections behind us, the economic picture is now rather more settled for the foreseeable future and it is time for investors to get off the fence. Low returns on bank deposits support classic cars as investments, and the proven record of price appreciation amongst Porsche 911s serves as a mighty attraction. This trend has helped to boost the fortunes of the iconic air-cooled Turbo models and our feeling is that the air-cooled Porsche market will continue to attract new entrants through 2017.
Turbo prices have all risen steadily, and air-cooled 911 Turbos now sit much higher than four or five years ago. While prices for both 930 and 993 models have risen strongly, it was the 964 Turbo which gained ground most noticeably during recent years. Prices for 964 Turbo easily topped £200k at one stage in recent memory.
While current prices for 964 Turbos have retreated from their peak, this may not be a permanent arrangement. History and a very strong cast of supporting characters would suggest that there is still plenty of headroom for the rarest models. As supply of the best air-cooled cars remains constrained and interest continues to grow in the water-cooled examples, market forces are likely to continue to support prices for the Turbo 911s.
For those planning a Turbo investment, our advice remains simple. LHD or RHD is a matter of choice (RHD is a rarer place to start), but it is essential to go for a car with as much originality as possible. Rare and desirable factory options are great to have, although this is not easy on earlier cars, as the factory did not offer too many choices. Factory performance upgrades such as the 993 X50 package is a good idea.
Low mileage is always nice to have and is particularly interesting for new owners who have no plans to drive their investment. Cars with higher mileage should not be discounted when they are presented well and with full service history, as they offer the opportunity to continue careful use and enjoyment without a huge impact on value.
Late February and early March is when the 2017 classic Porsche market will begin to play its cards. JZM has a great stock of superb condition air-cooled Porsche classics available and we could even see that number grow further as the year progresses – watch this space. Whatever happens, we are selling cars and stock the very best examples. If you’re in the Porsche market, you need to be talking to us!