Hi Scotty, I'm really interested in getting a classic Porsche, specifically a 928. I'm just not sure how to value a classic car like this. Here we see a '78 with a 5 spd manual and 131k miles sold at auction for $40k https://bringatrailer.com/listing/1978-porsche-928-27/ . And here https://bringatrailer.com/listing/1979-porsche-928-39/ we see a 1979 with an automatic and 105k miles selling for $12. As far as I can tell the only real differences in these two cars are the year, the colors, the miles and the transmissions. I so see a few comments saying manual transmission is more desirable, I know I prefer it, but is it really driving a 3x price increase?
How do I get started in valuing classic vehicles like this?
We appraise classics and exotics at my shop as a service for anyone who wants it. A lot of your classic car dealerships will do it for you. If you don't have one you can trust, there are also companies you can hire that give professional appraisals at reasonable prices.
I buy and sell classics and exotics for a living at my dealership. I would never recommend someone try to purchase one of these cars blindly. A lot of money changes hands on these sales, so getting educated and asking questions is the best starting point. The market is very fluid, so what is hot one week could be ice cold next week, especially right now....it changes nearly daily.
Where is your shop and would you be willing to do a virtual look over? If so, what is the cost for that?
I'm based out of Houston, TX. I wouldn't be able to help via a virtual appraisal as you really have to be able to put your hands on the vehicle and spend some time examining it. It is more in depth than a normal trade in appraisal. Most places will charge $100 - $500 depending on how in-depth of an appraisal you would like. You can Google professional vehicle appraisal companies in your area and I'm sure there are plenty of options. It is definitely worth doing if you plan on spending a lot of money on a classic vehicle. Any classic car dealer in your area can also assist you.
Thanks, I'm pretty far from Texas but I'm sure I can find something in my neighborhood.
Try asking at a shop that works on vintage and exotic cars
MMJ, you are on to something there. For a car like that, you need to “know a guy” who knows how to work on it. If your local shop knows the car, they will know roughly what it’s worth. And it’s in their interest to give you advice in order to get a loyal customer out of you
that's right. You could even hire them to inspect the cars before purchase.
Thanks, I wouldn't have thought of that. Most of the mechanics around where I live, based on the internet, also fix up and sell classic cars. I just hear the old adage "stealership" and assume they'll quote me whatever they think they can sell me a car for.
No motor vehicle is worth more than you are willing and able to pay for it.
Totally agree with all of the replies. Had timing belt, tensioner, water pump, thermostat, radiator cap, coolant and serpentine belt done recently. I found an engine shop that specializes in... well, engine work. GREAT PRICE and service! If I need suspension work... well, again, I look for a shop that specializes in suspensions... See the pattern? Or just find a mechanic like Scotty that can do it all and/or teach you how to do it yourself. Just sayin.
yup. I have a general mechanic, a body/alignment/suspension guy, transmission guy, and electronic guy
and they each have rolodex of THEIR guys where they send work that they can't handle
How do I find these guys? I lived overseas for 5 years. When I came back to the US I was on a bike for 5 more. I'm just now getting back into the car thing. This will be my first used/classic car. The one thing I have going for me is time, I can walk to work, so the car is a luxury toy. No hurry in buying it so I can do this the "right" way.
Just ask around. Word of mouth is the best endorsement.