Covid19 Market Value - Porsche and everything else..

[redrobin911]

Its like the question none of us want to ask...

So what do we think, will collector car market suffer, and if so by how much and for how long? How much will this affect the the supercar market and for us the value of say 2.7RS etc. or poss GT3RS if looking to the modern. Will this also have a knock on affect with everything else right down to the daily driver? I already know there is no answer but very interested in the thoughts of other.

IMO its a mad world where we're either coming out the other side with lockdown easing, or on the tip of the iceberg.

[sng45]

I think the sh*t will really hit the fan in October/November when the furlough assistance stops and the redundancies increase, although I feel there'll be little effect on the VERY expensive cars, if someone has the wherewithal to blow a few million quid on a car, then typically they've got that whatever the state of the world.

I think cars up to £100-150k will be affected, and particularly those that were bought on finance ( with the deposit provided from a bounce back loan ) I can't imagine it'll go down too well turning up at your office in a heavily financed GT3 when there's only half the work force left to see it ! Professionally I've been an Independent Mortgage Broker for many years and every week I come across people who borrow heavily for cars / extensions/ holidays without a thought of what they'd do if things took a turn for the worse. I think the year end turn for the worse could be the sharpest ever and many people, typically living for today, haven't given it a second thought !

[takeflight]

If you look at the results of the recent Silverstone auction, then IMO all’s well with the world. That said, it would appear in the case of Porsche the air cooled market generally attracts the cash buyer, in which case you have probably Paid off or have what remains of a small mortgage and accrued assets, allowing you to be able to indulge yourself. Or due to the financial situation your only worth 30 mill instead of the 40 yesterday. Therefore good cars would appear to be commanding good money, the chancers asking silly high prices have been and probably still will be on sale for a long time.
The water cooled Porsche’s and the super cars I believe are in general financed , this together with the car leasing bubble are probably going to be the next prime mortgage fiasco.

[redrobin911]

Interesting, I tend to think that the PCP/Lease/HP market will be the first to start offering new low cost deals to try to shift stock and that in turn the cars coming off these schemes will be harder still to move. Agreed that once the furlough ends then many will be forced to sell up, cash will be king and I think a lot of dealers are going to be left with car that are 12-36 months old.

I'd like to think the collector air-cooled market will hold up better as those that dont need to sell wont, so the market is unlikely to get flooded the same as the supercar market is likely to be. Time will tell but already there seem to be some bargains out there. Porsche 991 GT3 now creeping under £100k and I think further to fall. GT3RS which you could hardly get for £250k are now £150k and again set to fall further....

Interesting times...

[Prestonese]

I bought and aircooled and joined DDK to escape the values threads on Pistonheads!

[Timo]

[gridgway]

Interesting, I tend to think that the PCP/Lease/HP market will be the first to start offering new low cost deals to try to shift stock...

Interestingly we had a quote to PCP a replacement Zoe literally as lockdown happened at £300pm. Then when the dealer got back to work we tried to do the deal. However it was requoted as the Renault deals had changed and the price went up to £370. So I am now the proud owner of a 3 year old Zoe. Mrs R is the proud owner of a sulk

The car market seems to b in a bit of a frenzy at the moment and I have no idea why.

Graham