I was looking for a second hand Porsche a while back. Ok, I’m still looking, I’ve just had “monetary re-prioritization” due to a global slow down. I had just lost R100k on a BMW in two and a half years and was looking for an “investment car”.
Careful consideration and research showed that Ferrari, select classics and some Porsches held and or appreciated in value. Take the 356 Roadster I nearly bought 10 years ago… it was selling for R100k (in bad condition and needed work – probably R120k at the time) I did not see any 356’s selling in mint condition for as much as R220k at the time, so I gave it a skip…. Today you can’t get one in bad condition for less than R700k. A good one will sell from R1mil to R1.5mil depending on make, model, colour and condition.
Not all Porsches appreciate though, you need to select carefully. Generally the formula is:
· More than 15 years old
· 911 shape (original 911 shape is best)
· Carrera 2 (two wheel drive Porsche vs 4 wheel drive Carrera 4)
Cabrio’s, tiptronic, 964’s, 996, 997’s as well as “funny shaped Porsches” generally don’t make a good investment…… unless they are limited edition RS cars. Once 996’s and 997’s have lost some value and more have driven into poles or rusted away, the rarity will allow them to start increasing in value again. You may have to wait 10 to 20 years though and 996’s and 997’s are generally more expensive to maintain (no more so than any other 21st century German luxury car out of motor plan – so it’s all relative).
My choice is the early 1980’s 911SC. There are two different models….. the earlier ones have lower horse power and the later ones have more. Be sure you check before you buy.
The 911SC has plenty of power and sticks like glue in the corners (0-100 in just under 6 seconds for the 204Hp version and 7 seconds for the 188Hp version). Both cars I test drove managed to stall and not get started again… the first had run out of gas due to an old, inaccurate petrol gauge …… and the second had flooded itself (I of course had not flooded it myself, it had done it all by itself) on a steep incline…… they are after all 30 year old cars and the ones I looked at were both “cheap” and needed attention.
The feeling you get sitting in the car is like you stepped into a 1980’s Ford Cortina and when you drive it, you really need to DRIVE it…. No power steering, ABS, traction control etc….. BUT all of that is forgotten as soon as you flatten the accelerator pedal. Whether in a corner or on a straight, it feels like you where transported into orbit.
I subsequently discovered a new business colleague owns one. He bought it for R220k (a more expensive one and therefore a better example). He has driven it to work every day for the last 12 months and has not had to spend any money on it in that time. Other owners I’ve spoken to, say they know guys that have driven these to 600000km one the original, untouched engine.
Don’t forget to check the car thoroughly for signs of rust and abuse. I will post a comprehensive check list here in the next few weeks, so check back with us if you are interested.
Unlike my E90 323i, or the competitively priced Boxster, I know you’re going to be tempted by, the SC will be worth R500k in 5 to 10 years time. Probably as good, if not better, than you would do on the current stock market.