Erroneous 914 online price guide info, why are all of the online price guides way too high? Options

[ky914porsche]

I'm a newbie 914 owner and think they're some of the best bang for the buck out there in pint-sized sporty car land. I also happen to like the styling quite a bit, although I realize the auto world is divided on that topic.

In researching my recent 914 purchase online, I was surprised by all of the erroneous price guide info out there on 914 values. I bought a condition 3 car at about 1/2 what about every price guide out there says the year/model is worth, and I saw quite a few advertised 914's advertised at that same general proportion of their "worth". When I look at other classified ads out there for these cars, very few are even advertised at anywhere close to what the price guides say they are "worth".

I find it interesting that the price guides seem to think 914's are a lot pricier than real world available car ads prove them to be. All of the price guides seem to be way overstated- NADA, Hagerty's, or about any others you can find online. Perhaps there are paid subscription collector car pricing guides that are more accurate than these flawed "freebie online valuation guides", but I don't subscribe to any so I don't know. Flawed online price guide example: http://www.hagerty.com/valuationtools/HVT/...eport?vc=954896

I just thought I'd mention this to see what others think about why this is the case.

[914_teener]

If they are using -6 as comparable to using mean pricing.....then that is erroneous.

Looks to be the case.

You should know from your research that the -6 values are way above the -4 values.

[mepstein]

Because dealers don't sell the inexpensive cars and it's the dealers and auction houses that report the sales.

[JmuRiz]

Because dealers don't sell the inexpensive cars and it's the dealers and auction houses that report the sales.

Bingo!

[Mike Fitton]

I have bought and sold a few 914's over the last 10 years and I find Hagerty's price guide to be dead-nuts on. One thing that you are not taking into consideration is the really good #1 and #2 cars never become available through public listings, these are sold word of mouth and there is always a line of people waiting for them. I have never sold any of my cars through "for sale" listings, Ebay, etc.

[GeorgeRud]

When I had my -6 at the Parade, there were quite a few people that expressed interest, even though I wasn't interested in selling my car. Then, when the Reliable Transport driver dropped it off the other day, he had another person want the car if it was for sale at one of his other stops.

It seems that there is a large market for nice cars, and not that large of a supply. Hagerty shows an average of ~$35,000 for a -6, but they can go much higher (riding the early 911 coat tails?).

[tweet]

In general, my personal experience has been that region also influences price. I'm not referring to show cars or full on proper restorations, just your average nice car. I'm in Florida, and prices are lower here than in California. I suspect this effect happens all over the country. It's great for buying a car, but not so much fun if you want to sell.

[ky914porsche]

If they are using -6 as comparable to using mean pricing.....then that is erroneous.

Looks to be the case.

You should know from your research that the -6 values are way above the -4 values.

I'm not referencing the 6 cyl values, I fully know those are different animals altogether on valuation. I'm referencing the 4 cyl values: the Hagerty link I attached in my post is a 2.0 Here in the southeast at least, these 2.0 values on lower condition cars shown in the Hagerty link in my post are way overstated (about 100%), again at least for condition 3 and condition 4 cars. Condition 1 and condition 2 cars may be closer to the high reported values because there are so few such cars out there, I don't know. But in my budget world I operate in condition 3 and condition 4 land. Same story for NADA guides or most other freebie online guides out there. I just bought a decent 2.0 model condition 3 car with fresh paint and pretty well sorted out and no rust nightmares for 1/2 what Hagerty's price guide says they're "worth". And there are other ones out there like that also in ad's, I don't consider that I got a "steal" on this car, I think I paid close to true market value for it (which is not the price guide figures). The guy I bought the car from had started out advertising it at close to Hagerty's value for the car, and after 6 months dropped it in 1/2 to the purchase price I have in it. If Hagerty's is correct, I should be able to sell the car and nearly double my money. I don't expect that to be the case.

[ky914porsche]

Because dealers don't sell the inexpensive cars and it's the dealers and auction houses that report the sales.

Bingo!

I can see that argument being true for condition 1 and condition 2 cars, but not for condition 3 and condition 4 cars. If what you're saying is the case, then dealers and auction houses are ripping off folks on condition 3 and condition 4 cars in particular. I don't think that's the case. I think the price guides are grossly overstated on some of these cars, especially in the lower conditions.

[mepstein]

Because dealers don't sell the inexpensive cars and it's the dealers and auction houses that report the sales.

Bingo!

I can see that argument being true for condition 1 and condition 2 cars, but not for condition 3 and condition 4 cars. If what you're saying is the case, then dealers and auction houses are ripping off folks on condition 3 and condition 4 cars in particular. I don't think that's the case. I think the price guides are grossly overstated on some of these cars, especially in the lower conditions.

I don't know if "ripping off" is what's happening. Buyers have always paid more at commercial sellers. Commercial sellers can offer financing, warranties, and choice that private sellers can't. I think all price reporting just has to be taken in context. It's a published report so it gets used. Private sales often go unpublished so those numbers aren't thrown into the mix.
Personally, I pay what I'm comfortable paying, not what a chart tells me I should pay.

[ky914porsche]

Because dealers don't sell the inexpensive cars and it's the dealers and auction houses that report the sales.

Bingo!

I can see that argument being true for condition 1 and condition 2 cars, but not for condition 3 and condition 4 cars. If what you're saying is the case, then dealers and auction houses are ripping off folks on condition 3 and condition 4 cars in particular. I don't think that's the case. I think the price guides are grossly overstated on some of these cars, especially in the lower conditions.

I don't know if "ripping off" is what's happening. Buyers have always paid more at commercial sellers. Commercial sellers can offer financing, warranties, and choice that private sellers can't. I think all price reporting just has to be taken in context. It's a published report so it gets used. Private sales often go unpublished so those numbers aren't thrown into the mix.
Personally, I pay what I'm comfortable paying, not what a chart tells me I should pay.

Thanks for the input. I'd hope you're personally only comfortable paying close to market value for any car you look at, given its condition/rarity etc. I'm in the same boat. That's what this thread is all about- identifying true market values versus "overstated chart values" (at least on 4 cyl 914's in condition 3 and 4). I'm saying the chart values are too high on those cars in those conditions, and none of the responses thus far have convinced me otherwise. The 914 isn't the only car afflicted with this market value overstatement, it hits a ton of different types of cars reported in "valuation guides". And sometimes I'm sure it goes far the other way- "valuation guides" grossly understate some rare car actual market values. My premise in this thread is that any 914 owner with a 4 cyl car in condition 3 or 4 is greatly overestimating the value of what he has parked in his garage right now, at least if he's going on what the "valuation guides" report now for such cars. The good news is that fact is not the end of the world, it's just an observation.

[Cuda911]

I have a couple detailed threads here regarding my hunt for, and recent purchase of, a 914. I have researched in great detail 914s throughout the country and in all manners of condition. 2.0's, 1.7s, 1.8s.

So, the heck with Haggerty and the rest, PM me if you want to know an approx. value of any 914 (not 914-6) for sale. I know what they are REALLY selling for, in today's market.

Not at all meaning to sound arrogant, but my knowledge comes from an almost OCD search for a 914.

[swooshdave]

It's probably easier to classify a condition 1 or 2 as opposed to a 3 or 4, which is why the prices may be more predicable for the nicer cars.

[reharvey]

I have bought and sold a few 914's over the last 10 years and I find Hagerty's price guide to be dead-nuts on. One thing that you are not taking into consideration is the really good #1 and #2 cars never become available through public listings, these are sold word of mouth and there is always a line of people waiting for them. I have never sold any of my cars through "for sale" listings, Ebay, etc.

(IMG:style_emoticons/default/agree.gif) I've sold three 914s in the past and none of them ever made it to the for sale listings. Really nice cars have people waiting in line to purchase them.