Market for Coupes

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RDSChicago

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This subject may have been discussed elsewhere, and if so I apologize for bringing it up here in this thread. Is it just me, has the market for e9‘s softened significantly over the past few months? I’ve never seen so many of our beloved coupes going on to the BAT auction block so frequently. Many aren’t selling, or in the case of a sale, the realized sales prices appear to be materially lower than just six months ago. I was considering getting in on the market by offering my e9 for sale, but given the downward trend in prices, I’m keeping mine indefinitely. Am I off base here? Would love to hear confirmation or disagreement with my observations and assumptions. Thanks in advance.
 
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RDSChicago said:
This subject may have been discussed elsewhere, and if so I apologize for bringing it up. Here in this thread. Is it just me, has the market for e9‘s softened significantly over the past few months? I’ve never seen so many of our beloved coupes going on to the BAT auction block so frequently. Many aren’t selling, or in the case of a sale, the realized sales prices appear to be materially lower than just six months ago. I was considering getting in on the market by offering my e9 for sale, but given the downward trend in prices, I’m keeping mine indefinitely. Am I off base here? Would love to hear confirmation or disagreement with my observations and assumptions. Thanks in advance.
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Yea, I agree. I think the values are about 30-50% off the pandemic peak. Not sure how this compares to other “similar“ cars.
 
scottevest said:
I haven’t followed all collector cars, but some markets, and it does seem that E9s have gotten much more beaten up compared to classic 911’s for example, but may be wrong. I’m never selling mine, so doesn’t matter.
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The only reason I was considering selling mine is that I probably drive it less than 200 miles per year. It is a joy, however, on the rare occasions when I do have the opportunity to drive it. Viva Le Coupes!
 
Interesting. E9s probably fit the category of affordable classics, and the index for that category is slightly down in 2023, but not radically:

K500 Classic Cars Index - A Guide to Classic Cars

k500.com k500.com

Perhaps there is oversupply at auctions, specifically BAT? I read that 70% of the market is private sales, not auctions.
Yesterday I also read that the dollar lost 15% of its purchasing power in the year, and that would suggest a classic car would appreciate, but there may be other forces at play.
 
Arde said:
I also read that the dollar lost 15% of its purchasing power in the year, and that would suggest a classic car would appreciate, but there may be other forces at play.
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When the dollar loses purchasing power, essential items do go up in price. And things like groceries certainly have gone up. But that increased spending displaces the purchase of non-essential items. You and your loved ones may disagree on what is essential and what is non-essential, but loved ones have a way of winning these debates.
 
jmackro said:
When the dollar loses purchasing power, essential items do go up in price. And things like groceries certainly have gone up. But that increased spending displaces the purchase of non-essential items. You and your loved ones may disagree on what is essential and what is non-essential, but loved ones have a way of winning these debates.
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Makes sense. Useful perspective.
Suggests that prices would recover after this transient, so do not sell unless you must...
 
Not sure E9 will follow 911 models... It is an epic car but less popular in media and media are feeding young buyers.

New generation of buyers (dreaming about BMWs like E36 M3 / E46 CSL) are pumping the prices of newer models. It is happening already. This is also about 2002ti or even E24. Sick expensive spare parts and less and less expertised mechanics is not helping to keep car running.

My expectation is E9 will not be as expensive as it was but it does not mean it will be cheap.

scottevest said:
I haven’t followed all collector cars, but some markets, and it does seem that E9s have gotten much more beaten up compared to classic 911’s for example, but may be wrong. I’m never selling mine, so doesn’t matter.
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I totally agree with Scott!
 
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I've been following several levels of collector type cars for a long time and things are definitely in flux. 911s went up and, all but one chunk of years, don't seem to want to soften... I see a lot of people asking a lot for cars, but I'm seriously doubting that they get that. The market isn't supporting the crazy asks for so many of the affordable collectables. I think we need time for a lot of those people to be flushed out of the market so that it can reach a semi normal place again.
 
StephenZ said:
I've been following several levels of collector type cars for a long time and things are definitely in flux. 911s went up and, all but one chunk of years, don't seem to want to soften... I see a lot of people asking a lot for cars, but I'm seriously doubting that they get that. The market isn't supporting the crazy asks for so many of the affordable collectables. I think we need time for a lot of those people to be flushed out of the market so that it can reach a semi normal place again.
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I think a lot of people followed closely the rise in collector car prices following Covid. Maybe not so closely the decline in the last year or so.

The only indicator of the actual market is SELLING prices (well, and maybe auction "bid to" for no reserve cars at auction that didn't sell). Asking prices are somewhat meaningless.

Here's some fun with numbers.
I don't pretend that this is statistically representative of E9 prices, but it is a data point.

I took E9 sales on BaT (or bid to if it was a RNM), no CSLs or Alpinas...only CS or CSi, for the 1st 11 months of this year compared with the first 11 months of 2021

Cars. 2023 52 ...... 2021 40
Average price 2023 $71k ...... 2021 $92k

Average per car was 30% higher in 2021

Again, lots of reasons NOT to hang your hat on these values. But interesting.
 
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I would question whether the cars on offer now are as good - I suspect the rising values may have led to a number of not so good examples being tarted up to flip, and those have been coming to the market in increasing numbers?
 
i would have to agree with @day66 ... the condition of the cars coming to market definitely affect sale price. we know there were some great cars that sold in 2022. one that went undervalue was the Malaga from @HB Chris. we also saw some very nice cars sell for astronomical prices ... this definitely skews the average. on the flip side, we have recently seen a couple of really wonderful coupes sell for less than they should have. remember, not all auctions have the same quality of pictures or information.

so take note if you are going to sell ... great professional pics showing all of the pertinent places. post pics on e9coupe and let forum members help you to make sure that you have all of the low hanging fruit resolved and correct. stay tuned to your auction, adding photos / videos along the way ... and answer questions promptly.
 
RDSChicago said:
This subject may have been discussed elsewhere, and if so I apologize for bringing it up here in this thread. Is it just me, has the market for e9‘s softened significantly over the past few months? I’ve never seen so many of our beloved coupes going on to the BAT auction block so frequently. Many aren’t selling, or in the case of a sale, the realized sales prices appear to be materially lower than just six months ago. I was considering getting in on the market by offering my e9 for sale, but given the downward trend in prices, I’m keeping mine indefinitely. Am I off base here? Would love to hear confirmation or disagreement with my observations and assumptions. Thanks in advance.
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Hey, we'll miss seeing you in Winnetka...the Colorado location looks delightful, though.

Not to encourage your selling, but I assume you saw the post from our new friend in LA, who might be shopping?:

New member, Los Angeles

John from WLA. Don't own an E9 yet, but not new to classic cars. Been lurking here for a couple of months trying to learn as much as I can before jumping in. This site has been a tremendous source of information. Thank you everyone!
e9coupe.com e9coupe.com
 
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