Restored 986 price

[dpg123]

Just a talking point, but if I was to completely strip a 986S (rebuilt engine, gearbox, diff, suspension, full respray, retrim, new hood etc etc), basically "zero mile-ing it, how much do people think it would be worth?

I know Porsche did this and are selling theirs for £28k, I'd assume if we were to do it would be worth less, right? And if so, by how much? I only ask as I am wondering where the cross-over point is where this kind of work becomes worthwhile (so what is the break even point)?

 

https://www.autotrader.co.uk/car-details/202006190290230?model=BOXSTER&advertising-location=at_cars&onesearchad=New&onesearchad=Nearly New&onesearchad=Used&aggregatedTrim=986 S&sort=price-desc&include-delivery-option=on&radius=1500&make=PORSCHE&postcode=bt276xh&page=1

[edc]

The current price ceiling and sentiment towards the 986 doesn't make this a commercial go-er. Porsche put a lot of marketing behind their efforts and won't get those costs back either. 

When you start getting into engine rebuilds, gearbox rebuilds and to some extent full suspension rebuilds and full resprays you won't get the money back. 

[Menoporsche]

No the correct phrasing of the question is "how much money do you think I would lose?"

[Topbox]

A good talking point for me certainly as it taps into things I find interesting beyond cars themselves.  Broader culture, not car culture will decide the value of the 986.  Unless the 986 becomes 'iconic' and for various reasons I dont think it ever will, it will not make the returns that the 911 sometimes does. @edc is right, as things are, its surely a non starter to make money on rebuildiing a 986 but it is interesting that Porsche decided to do this, as even at the price they can command they must be losing money. If a 986 gets a star role in a film or TV seies though who knows. An  E type Jag can command six figures (it is an icon, representing 'things' beyond itself) a 3.4 saloon of the same age and condition can be picked up for maybe £30,000 or less. Not sure exactly what Jag Inspector Morse drove but it did not help the value of Jag saloons such is the fickle nature of culture and its values. 

[Menoporsche]

I think you can look at the price curves for the 914, 924, 944 for an idea.  Unlike the E type they were always the poor relation of the top of the range.

[Lennym1984]

3 hours ago, dpg123 said:

I know Porsche did this and are selling theirs for £28k, I'd assume if we were to do it would be worth less, right? And if so, by how much? I only ask as I am wondering where the cross-over point is where this kind of work becomes worthwhile (so what is the break even point)?

I think Porsche really struggled to sell their restored 986s. Many of them hung around for months/years. I know that the one in Swindon OPC was there gathering dust for a long time.

 

[Menoporsche]

And as said here many times before - we are in an era of unprecedented low interest rates, so people are putting money into things other than banks.  Last week there was a Ford Capri on here for 26k ffs.

[map]

1 hour ago, Topbox said:

A good talking point for me certainly as it taps into things I find interesting beyond cars themselves.  Broader culture, not car culture will decide the value of the 986.  Unless the 986 becomes 'iconic' and for various reasons I don't think it ever will, it will not make the returns that the 911 sometimes does.

Agree entirely - the Boxster was never raced or rallied by Porsche Motorsport - whereas the 914, 924/944 has some fascinating race history if you dig a little.

 

[Boxob]

To pick up on another thread, you'd probably be better off (meaning lose less) if you bought an ultra low mileage 986 and recommission it with new rubber bits etc. Bodywork and interior should be excellent so no costs there.

[Ninesomething]

Some of those Porsche restored 986s are still for sale.....

[Mike1960]

This is a really good question. 

I bought mine as a project, expecting to do a fair bit of work and I ended up needing to do very little. I enjoy spannering and wanted something to work on that was not someone else's car, there isn't much satisfaction in that.

I have other hobbys, such as gardening, that don't generate a profit and why couldn't this be another one. If I was just to break even, my wife couldn't complain. (Well she could I suppose).

I am going to mull this one over.

[Menoporsche]

^^ this way madness lies... ^^

[jonogt6]

5 hours ago, JonSta said:

Some of those Porsche restored 986s are still for sale.....

I remember seeing them at the nec classic a couple of years ago. I was really looking forward to seeing a Boxster perfectly restored by its makers. Turns out I couldn't have been more wrong...extremely disappointed and  not impressed with what they'd achieved.

I'm not surprised some are still hanging around.🙄

[Mike1960]

Broached the subject with my wife and she has now banned me from leaving the house without an adult with me.

Another hobby scuttled. 

[Nobbie]

That OPC one has had 11 owners and done 98k miles. Why would anyone pay £28k for that when they can buy a low owners 30k car for £10-12k. Looks like the answer is no one so far, and I don’t blame them.

[½cwt]

1 hour ago, Mike1960 said:

Broached the subject with my wife and she has now banned me from leaving the house without an adult with me.

Another hobby scuttled. 

Have you got any petrol head mates who are adults to accompany you???  🤔  or did she say 'with out a responsible adult'?

[edc]

At a certain point miles and number of owners becomes an irrelevance. The internet will tell you horror stories of M96 engine rebuilds, but it's as common if not more common to rebuild an air cooled engine. Go look up the prices of those. Likewise they still command strong money at well over 100k miles and multiple owners. People want them though and that adds desirability. 

Look at some of the classic car market. Alfa 105 GTVs come in from South Africa sold as good climate rust and rot free but have minimal if any history when they land here. They are still £20k plus. 

[Sanky]

I just think Porsche should have started with a better spec'ed model, before doing the restoration.  And maybe threw in some missing options, like leather dash, leather door cards, leather centre console etc.

[That986]

To answer the original question you'd be crazy to even think about it. To fully restore a car takes A LOT of money and then add more on that. 

When we restored Jenny's beetle the original estimate was around £8k and the car could be valued at between £10-£12k so it made sense. Over £12k (and probably more) later and the car was done, we used a lot of the original parts as well in that as that was the intention. Now this was a VW resto so the parts are fairly inexpensive, engine rebuilds easy and parts again not expensive and it's an easy car to work on.

To do a boxster properly i would say double or triple that once you factor Porsche parts/labour tax in there and the car will be worth what, half that? it makes zero financial sense but these things rarely do. We have no intention of ever selling the beetle so the money side was never the important part but that said we did hit the limit of what made sense at the time and didn't do some things we wanted to. 

But if it's what you want to do and have the funds then it's really down to you. To have a factory fresh 986 would be something (but you'd still be crazy). 

[Menoporsche]

No-one's asked why you don't start with a 987 which corrected most of the 986 faults anyway?

 

 

 

(....runs away quickly.....)

[the baron]

1 hour ago, Menoporsche said:

No-one's asked why you don't start with a 987 which corrected most of the 986 faults anyway?

 

 

 

(....runs away quickly.....)

And so you should 

[the baron]

On 12/10/2020 at 12:12 AM, edc said:

At a certain point miles and number of owners becomes an irrelevance. The internet will tell you horror stories of M96 engine rebuilds, but it's as common if not more common to rebuild an air cooled engine. Go look up the prices of those. Likewise they still command strong money at well over 100k miles and multiple owners. People want them though and that adds desirability. 

Look at some of the classic car market. Alfa 105 GTVs come in from South Africa sold as good climate rust and rot free but have minimal if any history when they land here. They are still £20k plus. 

Well said

[Cheddar Bob]

Restoring a 986 is pocket change for Porsche, actually not even that, just a bit of fun. I do not think they would care whether it sells or not.

Spending money on something like a Boxster with the view of making a return is quite a gamble. If you have the spare change and are not concerned over not getting it back, fill your boots, but £30k buys a lot of car from all manufacturers.

 

[Araf]

Nothing works like a production-line built vehicle.  It doesn't matter how much you put into the restoration, they always rattle and creak.  The Porsches were dealer renovated.  That won't make any difference (IMHO).  This is why survivors are so highly prized.

[gIzzE]

3 hours ago, Menoporsche said:

No-one's asked why you don't start with a 987 which corrected most of the 986 faults anyway?

 

 

 

(....runs away quickly.....)

The 986 will easily become much more valuable than the 987, and it won't be long before it does either. 

 

Look at the way 996's are suddenly starting to go up in value, they are now becoming retro cool, and when that happens.