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Bank recommends buying classis Porsches as investment

Old 07-09-2018, 07:53 AM
  #1  
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Default Bank recommends buying classis Porsches as investment

No word on their thoughts on GEH invest-ability.

https://www.bloomberg.com/news/artic...akers-homeland

"Owners of Porsche 911 classic cars were especially fortunate, with cars in that model series increasing almost eight-fold -- 683 percent -- in value in the past 13 years."

EDIT: Title misspelling of 'classic' please correct mods.
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Old 07-09-2018, 07:57 AM
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Default Re: Bank recommends buying classis Porsches as investment

Wouldn't 683% be almost seven-fold? Disclaimer, I did finish school before common core so maybe I don't understand the new rules for percentage rounding.
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Old 07-09-2018, 07:59 AM
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Default Re: Bank recommends buying classis Porsches as investment

Don't use past models to predict future gains.

That's a scary bank. They need to loan me money based on their beliefs though.

Is Shamoo's car a classic yet?
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Old 07-09-2018, 08:00 AM
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Default Re: Bank recommends buying classis Porsches as investment

Same rules apply to this as all collectibles. You don't get into collectibles for money, you get into them because you want to own the item. Then the money appreciation is the upside.

They aren't always liquid or easy to flip at a profit though. Those who are successful typically build a portfolio of valuables. That opens up your options drastically. For example, you want to raise $100k but the $100k Porsche you bought won't get offers above $80k. You'd keep the Porsche and sell something else to get the $100k. Hopefully you'd have real estate / other cars / other investments if you're comfortable owning a $100k car asset just for the sake of it being an investment.
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Old 07-09-2018, 08:04 AM
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Default Re: Bank recommends buying classis Porsches as investment

no ******* way they increased 8 fold lol

More like 2 fold.

good condition porsches were never super cheap

still remember 10 years ago there was a 930 carrera 2 in great condition sitting at a dealer with 130k miles for $30k. That same car would go for like $45-$50k now.

993 turbos were like $50- $60k and they now are like $140k. But that and the 964 turbo probably saw the highest increases in values out of all of them.
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Old 07-09-2018, 08:06 AM
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Default Re: Bank recommends buying classis Porsches as investment

I missed a 996GT2 for 55k by hours. Hours.
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Old 07-09-2018, 08:14 AM
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Default Re: Bank recommends buying classis Porsches as investment

Originally Posted by sflkgjsfndgn View Post
no ******* way they increased 8 fold lol

More like 2 fold.

good condition porsches were never super cheap

still remember 10 years ago there was a 930 carrera 2 in great condition sitting at a dealer with 130k miles for $30k. That same car would go for like $45-$50k now.

993 turbos were like $50- $60k and they now are like $140k. But that and the 964 turbo probably saw the highest increases in values out of all of them.
Eh, 8 fold over 13 years really isn't that much. I have some video games that have gone 10-15 fold in a much shorter span, probably about 8 years. Collectible markets boom pretty quickly when they get hot.

Having said that, expecting another 8 fold increase over the next 13 years wouldn't be wise. Markets can only take so much of an increase before they level out (cool off) or pullback. The long term trend is up generally but you have to be able to stomach a pullback if you got in at the wrong time. And you don't know the "right time" unless you follow that collectible market closely for a number of years to see selling prices vs. ask prices.
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Old 07-09-2018, 08:17 AM
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Default Re: Bank recommends buying classis Porsches as investment

It's a dumb ******* idea. lol
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Old 07-09-2018, 08:22 AM
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Default Re: Bank recommends buying classis Porsches as investment

I still think investing in properties is the more prudent thing to do and would debate that point.
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Old 07-09-2018, 08:24 AM
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Default Re: Bank recommends buying classis Porsches as investment

Originally Posted by 93Accord117 View Post
I still think investing in properties is the more prudent thing to do and would debate that point.
There's no debate, it's a fact. Property > Depreciating asset with emotional buyers
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Old 07-09-2018, 08:24 AM
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Default Re: Bank recommends buying classis Porsches as investment

I cant drive my property to Cars and Coffee fam.
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Old 07-09-2018, 08:26 AM
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Default Re: Bank recommends buying classis Porsches as investment

property can't get t-boned in an intersection on the way to cars and coffee
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Old 07-09-2018, 08:26 AM
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Default Re: Bank recommends buying classis Porsches as investment

Originally Posted by Rguy View Post
I cant drive my property to Cars and Coffee fam.
People always give me mad props when I drive my stanced mobile home to cars and coffee doe.
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Old 07-09-2018, 08:26 AM
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Default Re: Bank recommends buying classis Porsches as investment

Originally Posted by Rguy View Post
I cant drive my property to Cars and Coffee fam.
No but you can host one.
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Old 07-09-2018, 08:27 AM
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Default Re: Bank recommends buying classis Porsches as investment

Originally Posted by sflkgjsfndgn View Post
no ******* way they increased 8 fold lol

More like 2 fold.

good condition porsches were never super cheap

still remember 10 years ago there was a 930 carrera 2 in great condition sitting at a dealer with 130k miles for $30k. That same car would go for like $45-$50k now.

993 turbos were like $50- $60k and they now are like $140k. But that and the 964 turbo probably saw the highest increases in values out of all of them.
AH DaZman anecdotes. My favorite form of “proof”
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Old 07-09-2018, 08:30 AM
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Default Re: Bank recommends buying classis Porsches as investment

At most, a classic car should make up 10 percent to 15 percent of a portfolio


This is the key point from that article, though. And in this context, it makes sense to buy such a car just to get a bit of diversity.
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Old 07-09-2018, 08:31 AM
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Default Re: Bank recommends buying classis Porsches as investment

Originally Posted by jonebone View Post
Eh, 8 fold over 13 years really isn't that much. I have some video games that have gone 10-15 fold in a much shorter span, probably about 8 years. Collectible markets boom pretty quickly when they get hot.
That’s fine but they still didn’t increase 8 fold

this isn’t a collectible market like nintendo games that went from pocket change money to nice bottle of wine money

a porsche increasing 8 fold would be honda accord money to top 0.5% of population can afford money
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Old 07-09-2018, 08:32 AM
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Default Re: Bank recommends buying classis Porsches as investment

I still think it would be a bad idea for a car person. I'd be too tempted to drive it.
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Old 07-09-2018, 08:34 AM
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Default Re: Bank recommends buying classis Porsches as investment

Originally Posted by Todd00 View Post

This is the key point from that article, though. And in this context, it makes sense to buy such a car just to get a bit of diversity.
Having a diversified investment strategy is wise, I agree with you there, but there are far better things to invest in over old cars.
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Old 07-09-2018, 08:35 AM
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Default Re: Bank recommends buying classis Porsches as investment

Originally Posted by 93Accord117 View Post
Having a diversified investment strategy is wise, I agree with you there, but there are far better things to invest in over old cars.
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Old 07-09-2018, 08:36 AM
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Default Re: Bank recommends buying classis Porsches as investment

Originally Posted by 93Accord117 View Post
Having a diversified investment strategy is wise, I agree with you there, but there are far better things to invest in over old cars.
that's why I have a pickup, a large sedan, and a sporty sedan
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Old 07-09-2018, 08:37 AM
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Default Re: Bank recommends buying classis Porsches as investment

So you’re telling me I can buy a 997 turbo convertible now and tell the lady it’s a recommended investment? Niccce
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Old 07-09-2018, 08:37 AM
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Default Re: Bank recommends buying classis Porsches as investment

Originally Posted by 93Accord117 View Post
Having a diversified investment strategy is wise, I agree with you there, but there are far better things to invest in over old cars.
If one has a million dollars or more in investments, a $100K Porsche really isn't that great of a risk (going by the 10-15% rule outlined in that article).

The cost of insurance and maintenance is far less than paying taxes on a piece of property.
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Old 07-09-2018, 08:38 AM
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Default Re: Bank recommends buying classis Porsches as investment

KS gonna need a Anthracite and RSP Supra in the garage, for diversity sake.
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Old 07-09-2018, 08:39 AM
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Default Re: Bank recommends buying classis Porsches as investment

Originally Posted by Rguy View Post
KS gonna need a Anthracite and RSP Supra in the garage, for diversity sake.
Quicksilver hardtop and RSP 6 spd please. kthx
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