ORIGINAL: 944 man
Cars dont sell because theyre too dear, not because theyre too cheap. A car is worth what people will pay for it and no more: this is a hard economic fact seldom acknowledged by sentimental and over-valuing owners.....
I agree, but with Jon as well...[&:]
If there are no buyers then it won't sell. Obviously. Usually you'd say drop the price, to the point where a buyer is found. In the present economy that isn't happening because people just aren't spending. I don't believe that there are dozens of buyers looking for an S2 cab, but are thinking "that one looks suspiciously cheap".
Of course there are some people who
need a car, right now. They'll be playing safe, and buying a Mini, or a Focus, or all the other cheap and common cars. The guys who buy 944s, particularly cabs, tend to be looking for a weekend toy. (I know there are loads of daily-drivers out there, but I bet not many are cabs, and I bet with the huge choice of sports cars going for stupid money a lot of you would be tempted into something else if you were buying now?) The people like me, who had loads of equity and a bit of spare cash, so decided to fulfill a childhood dream and treat myself to a 944, are just not spending right now.
I think it's either wait, possibly a couple of years, for people to perceive that the economy has bottomed-out but that their job is safe, or take any low offer to be rid.
Jon has a good point about the hierachy of car values, but I'm worried about it another way. Far from the 924 becoming so cheap it's appealling again, and pushing the range up in value, I'd fear that they'll just be bought cheap and run into scrap. When a 944 has the potential to need cills, a clutch, fuel lines and four tyres, say, in a year, but only a value of £1000, it's not going to go
up in value!
The good news is that the remaining, above average, cars will be rarer still post-recession. I'd guess that the values will be heading up again then. Don't forget, though, that there's a huge over-supply of cars bought in the boom of the last few years that will be competing. Ever wonder why there are so many 1984-1986 Porsches around? The same reason there are so many 2005-2007 Porsches.