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Brexit wins, Pound tumbles: early 911 values ?
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Yes Mitchell. But a much bigger impact in European markets. They, and the whole concept of the EU may end up being the biggest losers. There was already a high level of nationalist / populist activity in Europe and concern about Brussels and I would not be surprised to see this as the beginning of the end of the EU and a turning point in the last 30 / 40 years of globalisation and trade liberalisationHugh Hodges
1973 E
Australian TYP 901 Register #005
Early 911S Register #776
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No argument here Hugh. Re future values I haven't heard a single coherent argument why they've risen so far so fast, other than general comments about cheap money and inflated asset values, so who knows what will happen next. Other than doesn't seem like cheap money/ money printing is ending any time soon, think I just heard the BoE is tipping 250 million in to prop up pound, which has bounced back to 1.87ish from 1.80.
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Is it Sal?
Wouldn't you expect that since they are not thinking this is important enough they're pretty impartial to it - hence if they did vote the results wouldn't have mattered much? (as in: it would have evenly split)
Isn't it a case of people with a view toward the losing end - that didn't vote - thinking in hindsight that their vote could have made a difference?
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I don't know Patrick. Adult humans are the least logical beings on this planet.
I generally think people should exercise their right to vote even though the lot we are currently presented with are pretty bad. Someone must always win.
In the case of Brexit though, people weren't voting for a party, they were voting for a tangible ideal...
I'm still none the wiser
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A lot of knee jerk reaction overnight, including the Comm bank temporarily suspending trade of the pound. As long as it all remains impulsive I don't think it will impact the fundamentals. The issue longer term for all of us I feel is political.Costas
95 993 Carrera Coupe
& a lesser 14 Audi A6 Quattro 3.0L TDI bi turbo (Daily Drive)
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Sal's graph demonstrates the reporting this morning that the older Brits least likely to use the advantages the EU membership held have prevented coming generations from the choice...John Forcier
1969 2.7RS spec 911B(astard)
1968 2.0S spec 911 Race Car
Restoration Saga
1962 CB77 P3 TT Race Bike (looking for another engine)
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Values
Originally posted by Bremith View PostRe future values I haven't heard a single coherent argument why they've risen so far so fast, other than general comments about cheap money and inflated asset values
Hornets nest alert!
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Mitchell, reports that I have read on the rising value of early Porsches, initially the 911, suggested that they was driven by the fact that they were under-valued for years compared to other sports cars that sold for the same or less money during the same production years. The fact that they were well engineered, drove well and were well built certainly helped. There are several examples.
The low interest rates world wide would also seem to be another major factor. First, the money was there and second, the asset growth of that money was limited in most commodities, and buying an early Porsche was a demonstrably better investment value than cash or shares (see the Bloomberg report)
Then some fell into the usual 'collectors' categories and the earliest cars (65), the specials, the low build groups, and those with racing history become the prime targets. Then we had the situation that almost any 911 of any era was seen to be climbing in value. Clearly the upward trend through models of later years was unsustainable.
The 356's have been plodding along for years with a relatively gentle rising value curve. There are fewer of them surviving also, but now they seemed to have attracted money that was around, since the early 911's peaked? I see quite a few 356s around (see the GoF meeting this year) and hear almost daily of another being sold or 'found' to be available. The majority of those here in Australia were imports I am told.
I guess we all have our views on this. There is a question that is asked, however:
"Do you own your car, or does your car own you?"
At each end of the continuum, the former is a car that you use and drive and the latter is a trailer or display piece.
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Agree generally Merv, with the qualification that just about everything old with a motor and 4 wheels has doubled or tripled in price in recent years. The litmus test for real growth vs bubble will be when the piper gets paid for all the money printing and central bank interest rates. That could be a scary time beyond classic car values. Of course if I actually knew anything about it all I'd be sitting in Bora Bora counting checking my millions in Panama, not sharing online.
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Mitchall / you are spot on about value growth across all varieties. in the Pagoda world I know well, prices in the various condition categories have risen quickly over the past 5 years.
For example I could have should have bought a one owner low mileage Restored 280SL in early 2012 in the UK for 70,000 pounds. Same car today 130,000.Mark Evans
1966 912 5 gauge
1968 Mercedes Benz 280SL
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