924Board.org

[datatrain]

If you look in the Hemmings book at prices of old cars. Some are astounding. My old frog eye Sprite (long gone) is worth thousands more than it cost new. The E Jag that was offered to me in 1977 for $2500 is now over $60,000 shame I didn't buy it. MGB's will fetch $6K and upwards.

When can I expect or will I live long enough to see my 924 become a highly valued antique car ?
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'78 924 NA with Collector plate
33 year old car, with me for 21 yrs
Mint '92 318i BMW
Near mint '98 Buick LeSabre
VE7HFR

[Jakkq]

2034
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1979 Porsche 924- Snailshell
http://porsche924workblog.blogspot.com/

[datatrain]

2034 I'll be too old to have a drivers license and too stiff to put on the car.
_________________
'78 924 NA with Collector plate
33 year old car, with me for 21 yrs
Mint '92 318i BMW
Near mint '98 Buick LeSabre
VE7HFR

[Martijnus]

[ditch68]

Well, I'd say that like any other marque, or any other model, a lot of factors affect valuation as time goes by. I have been around collector cars for a long time. Some were unappreciated in my youth, and became much more prized. Some have remained the victim of apathy by the collector world. And that is a fickle world, indeed - but with some clearly recurring "rules".

For a car to be widely prized in it's advancing years, I feel some basic watermarks have to be met.

First, a general positive public image from the inception of the model is important. A Ferrari Daytona is a Ferrari Daytona, and has been since day one. So is a COPO Camaro, a Pontiac GTO, or even a really clean plain Jane 1965 Mustang. Only so many ever get made, and they are desired from the start. It endures as the surviving numbers shrink. However, only a small specialty niche market remains for AMC Pacers, (bad example?) despite low remaining examples of good cars. Nostalgia by people who owned the cars in thier youth is a strong driver for price, especially as it pertains to US musclecars.

Second, the car has to retain some sort of currency in it's aesthetics beyond it's years. The 911 has accomplished this, as have others. Timeless design, we'll call it. Detroit now markets retospective representations of 2nd gen Mustangs, Dodge Challengers and 1969 Camaros - which brings us a link to #1 again. A GT40 is still hot, it has endured as an example of a car with extreme charisma.

Third, original production figures for the specific model absolutely has to be considered a factor. Plain Jane Plymouth Roadrunner versus one with the "beep beep" horn, factory graphics, and so on. Rarity will always increase by attrition for any car of any stripe. Someday, there will be only one surviving example of ANYTHING.

And then - Condition, condition, condition. And this, of course, being as close to "as it left the factory" as possible. Factory paint with minor flaws will trump an 8,000 restoration paint job for many serious collectors. Does the car have original underhood decals? Does it have all the tiny interior trim pieces? Original tools and spare tire? Or does it have engine and suspension components painted at the whim of the previous owners, different seats, an aftermarket stereo (with resultant "surgery" for installation") and long gone difficult to replace factory wheels? At some point the value of the sum of the modifications can outpace the car's value, but then, what are you buying? A car, or a lot of expensive parts on a mounting base?

And lastly, is it viewed as a well engineered and reliable product from it's inception, and does it's history bear this out? While dedicated people may collect and run Edsels, Corvairs, and other problematic vehicles, severe design flaws will beat up the enduring value in many cases. Not to mention parts availability.

Well, all these things mean different things to different collectors. But in the end, we ask, do our cars have potential as collector pieces? What pattern does the current and past market bear?

#1 - The 924, I will admit, is not respected on the level of many other Porsches, and I dare say it has never enjoyed a high level of praise in some circles. It is viewed as a "starter" Porsche now, as it was when it was produced, likely second only to the 914. This was in fact the factory's intent at the time of it's introduction. So it takes a hit in category #1. It is a true Porsche, but do all enthusiasts share this assertion? I don't feel it ever recovered from the Audi/VW "tainting" of it's early history. How many enduring, yet incorrect, "urban myths" can you attribute to countless cars, which never shake publicly percieved inadequacies, despite inaccuracy of some of these claims?

#2 - I think the aesthetic design of the 924 is attractive, and still has the currency I mentioned. I believe this is enduring. I say this with all the objectivity I can muster - but I really do think it has "the look". Porsche continued to use the basic style for many years in several models, and sales drove their decisions. 944/928/968 and beyond...Good enough for me.

#3 - Lots of 924 cars out there on many different levels of rarity and refinement, and several stand out. Obviously the GT race models are true exotics, the GT Carrera included. Handling and performance packages, 931 turbo cars, and the like, are more atractive. Also the special editions, like the Sebring and so on. (Shameless plug - The 1987-88 924S has low production figures, and a unique construction and historical rationale behind it's release. I'll come clean - just over 2,000 units sold in the US in 1988 to realign the pricing bracket as 944 production costs hampered the bottom end sticker price, and the unique use of the 944 160bhp engine absolutely sealed my decision to make the '88 924S "my" 924 model of choice - well, that and I couldn't find a decent 931.)

#4 Condition is clearly a vehicle to vehicle factor, consider it a "price enhancer". But are there common modifications that instantly make specific original equipment that is eliminated very desirable? Think about that when you junk stock parts or rip off trim pieces for personal aesthetic reasons.


For #5, these are, after all, Porsches, and do command respect for that reason alone in many circles. The dedicated Porsche purists with deep pockets may scoff at the 924 in any form. Ferrari guys scoff at everything. The 924 is no 930. Nor is a 930 a 917! But to most people who love cars, the marque is synonymous with meticulous engineering, high watermark performance right out of the box, and enduring value. That is worth something, is it not?

The current prices stunned me when I got to looking for my first Porsche. How could the prices be so low for such a car? I was floored. I am happy to report the car has more than met my expectations, and far outpaced my investment in my opinion. I originally wanted a 944, but am remarkably happy with my 924S (even though I may violate the above "rules" and add 924 Carerra GT bodywork!)

It is difficult to call collector value in the future for any car, but I feel I have made a good decision.

After all, beauty truly is in the eye of the beholder. And if you bought your 924 to make money, you have made a decision which may pay off, but in my opinion was made for the wrong reason.

I married my wife because I loved everyhing about her, not because she looks good on my arm at a party (though she does... ) And reasons for buying a car shouldn't be far off this rationale. Precious metals are a better investment in any case!

Jeff
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Current:
1979 924, all stock.
1988 951 all track modded out and angry.

Past: 1986 951, 1988 924S, 1965 912 with '69 911T engine.

[ratedK]

If you look closely at my pic, that GTO you mentioned is parked next to the Porsche in my friends garage... That one's a '67 & he's also got a '66 that's in better shape!
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1981 Porsche 924
1987 Porsche 924S
1994 Suzuki Sidekick JLX 4 Door - Just died. Parting it out on a Suzuki forum

[ditch68]

...and I myself had a '67 Goat too, in my high school days! I drove it like an idiot, and spent as much time wrenching as driving (and I sometimes did homework)

I attend the McCormick car auction annually in Palm Springs. Let's just say if I kept all the musclecars I have owned over the years, I likely would not have to got to work everyday at the prices they go for now.

And my father's laundry list of past cars smokes mine...Z16 Chevelle, numerous pristine 'vettes, and on and on....

*sigh*

Jeff
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Current:
1979 924, all stock.
1988 951 all track modded out and angry.

Past: 1986 951, 1988 924S, 1965 912 with '69 911T engine.

[Chickenwing]

i think its safe to say the 924 will go the way of the corvair.
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1977 924 4-speed

[datatrain]

Guess I'll do as I've always done. Just drive it and enjoy it and never worry about having a valuable classic. Although around here it's a head turner as they are rare. Maybe someday I'll even get it painted.
Thanks for the thoughtful responses.
_________________
'78 924 NA with Collector plate
33 year old car, with me for 21 yrs
Mint '92 318i BMW
Near mint '98 Buick LeSabre
VE7HFR

[Khal]

This has been discussed many times here. I agree in general with ditch68's comments.

My two cents? I feel that as-new, all-original 924's of any kind will eventually appreciate in value, insomuchas in pure dollar terms, they'll be worth more than they were new.

I doubt they could be worth any less than they are now!

But will the 924 series as a whole ever be given the respect and admiration -dare I say reverence -of, say, the 911 or, as an example from another manufacturer, say, the GTO Ferraris and the GT40 as ditch68 mentioned? I don't think so. I suspect there will always be people like us who appreciate them and desire them. But if you bought a 924 as an investment for your retirement fund, I reckon you've made a poor choice. Unless you have something truly out of the ordinary -I'm thinking unmolested, low-mileage Carrera GT or something with a unique racing pedigree -I doubt there'll ever be much money in 'em.

I dunno, perhaps 924RACR's car might end up being worth the most?! It's raced and won, and Porsche nuts love that about their Porsches...
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'80 924 Turbo