This guide is published only at 928 dot org dot uk - the home of the 928 community in the UK, and on ebay, on my account. There really has never been a better time to buy a 928. Read this buyers guide to find out invaluable information. Join the 928uk mail list and take your time to choose
the right one. But get on with it and act now and get yours in time for
the next 928uk meeting!
Anything under GBP 2000 will likely be a basket case. Nowadays I think
there are three clear bands of 928s people search for. This doesnt mean
quite exactly three bands of pricing but it almost does. Exceptions for
truly mint cars make this an inexact science. Please dont rely solely
on this guide. Get plenty of advice and opinions.
Band 1 -
Pre S4 - I group all these cars together, I dont see any difference
between a 78 and an 81 in value. Nobody will pay more than 3999. Most
desirable are the first cars from 1978 and the last cars known as
86.5's because they had a lot of the S4 running gear without the
complexity.
Band 2 - S4 Analog Dash - The entry point
into the revised shape tops out at 5495 .My favourite analog dash car
is the 1988 S4 SE which doesnt always fit the normal valuations and is
these days roughly equivalent in value to a perfect GT.
Band 3
- S4, GT, GTS Digital Dash 4995 to 8999 for S4 and GT models, 6995 -
15995 for GTS. My model of choice here is a tie between an 89 GT and a
95 GTS manual. I think a top priced GTS would have to be nearly perfect
to do achieve these prices. Average GTS price in 2008 was just hovering
between 9000 and 10000 and the only way is down!
I talk to a
lot of potential buyers in person and mostly by email. Most people
today are not reliant on the 928 as their main car so they are spending
a lot of time finding the right car for them. This is a good thing
because its really important to have one you can live with in terms of
colour inside and out and manual vs auto and then the rest of the spec.
It is more important to buy one which has the basis to be a good car to
keep and to build up to be what you want it to be. Its no good buying
the right colour but neglected car unless you have deep pockets. All
928s are getting old now so there are very few perfect cars.
see evidence of reasonable history of attention to upkeep as well as an
ongoing list of things to attend to. These are the signs of a well
maintained car. Its a question of keeping on top of things rather than
thinking that you'll never need to spend a penny on the car. I
personally budget for servicing and tyres plus one major project per
year. That way I will get to things in a planned way. I was over budget
for the first two years but still happy. In 2006 and 2007 I was under
budget. I spent GBP 1500 in 2008 chiefly on tyres and mirrors which is
up to me or a relatively fixed cost whatever car you have. It beats
having a rep mobile and given the huge depreciation costs of new cars I
think the maintenance costs of 928's compare very favourably.
People always ask me about prices. The truth is that bad cars are
priced high and good cars are priced low. Think about it for a moment.
All 928s have depreciated as far as they can due to false images of Ed
Strakers car from UFO, unpopularity and expense. In fact if you look at
a 928 today it is undated. Only the wider panel fit and heavy wood
construction interior door panels give away older design and production
techniques. Many have been neglected by owners who couldn't really
commit to the planned maintenance idea. A 928 at any price is a
terrific price/performance equation if it doesn't cost you the earth to
run. If it costs an extra 5k in year one then that's not so good.
I think only the certifiable would pay over 15k for a 928 in 2009
unless it was absolutely perfect and was delivered in a Tardis. I
suppose with a bullet proof warranty I could see it but even so... You
can after all buy a 996 for GBP 12000 on ebay UK. So Its not about what
people in the 928 community think these cars are worth - its about what
they are worth in relation to other desirable cars.
There is
overlap here because condition is king. A really good GT sold in
January 2009 for around 9000 is worth more than a smoky or poorly
looked after GTS. Caution though. Traders value 928's at a lot less.
Near perfect cars in desirable colours are the only ones holding value.
Prices were stable over 2004. Prices rose for some models or stayed put
in 2005. In 2006 prices held 2005 levels but only for cars in super
condition with few faults. In 2006 a slide began in any cars not
perfect or in hard to resell colours. In 2007 prices are dropping quite
a lot more sharply with numerous bargains around 6,000 in the Pre 1989
model year non-digital dash S4's. GT prices are falling too. In 2009
Cheap S4's start at from 4995 at 928.org.uk and on ebay.co.uk and even
at dealers but likely. Earlier cars are variable in price. 928's and
928 S models are bargains or basket cases depending on your point of
view. S2's are selling well but its very hard to get more than GBP 3999
for an S2 no matter how special the car, even the 86.5s
GTS values
are indistinguishable now from GT's and have suffered from
inter-galactic depreciation. GTS's can be found from 5999 to 16,000.
Dealers are sticking out for more for what they imagine are really
special cars but any prices about 16,000 are just not realistic and the
dealer may have had the car in stock for years on consignmet. These
dealers are wrong about their pricing and I simply cant see a 928
making over 16,000 no matter what it is. If you are looking at one and
its priced higher remember it will sit on the dealer shelves for ever
and the only way is down. It may seem special to the dealers but
comparative car prices (Range Rover V8 Westminster, BMW 850, Aston
Martin DB7, Ferrari 456GT, Ferrari Mondial, Porsche 996) wont allow any
928 - even a perfect GTS to have a premium so dont fall for this.
Rarities like the SE continue to be extremely hard to value (I've heard
of sales for 6500 and double that in 2005 amd in 2006 no less than four
have sold through the site for high prices reflecting condition and
rarity).
Overall though I still think the price band for the
SE is now the same as the GT. Theres just not the awareness of just how
special these models are. Theres a black one in London with one owner
since new with under 30k miles so who knows what that would be worth
(he's not selling it - I tried!). Caution though - even though these
cars are the equivalent of the RS models in 911 land they don't seem to
hold value in the same way and may only have value to members of our
community so are likely to remain uncertain going forward. Its
especially important to get the right insurance for them - so that they
don't get under valued as an S4 and written off all to easily. (voice
of experience).
I would not recommend mileage as a good
indication of value. Porsche 928s need regular use and without it
gremlins creep in. A fully maintained high mileage car with regular
detailed planned maintenance program is a better proposition than a low
mileage car that will need to be recommissioned (think disks, pads,
pumps, fluids, fuel pipes, other pipes, all belts, ac, heater matrix,
battery, alarm, tyres all of which is a couple of thousand at least).
Recommissioning is not for the faint hearted but if you are buying a
car to rebuild make sure this is taken into account in the purchase
price.
checklist represents in large part all the items that an informed buyer
should check on any car they are considering buying. Some of these
items will be less important to you than others, but knowing what needs
replacing or repairing will put you in a stronger bargaining position
if you are interested in the car. Shop around I would
strongly recommend that if you have doubts about any of the mechanical
aspects of a particular car, that you walk away from the car. Contrary
to what many dealers and ebay sellers will tell you, the 928 is not a
particularly rare car, with up to 8 cars appearing for sale on the web
site each week and loads here on ebay, so there is no reason to
compromise on condition. Drive more than one If you are
considering buying a 928, we suggest that you drive as many 928s as you
can which will give you an opportunity both to compare the different
models, and to find out what a good 928 looks and drives like. One
current owner drove five in one day and it quickly became apparent that
two were good, one was so-so and two were bad. The two bad ones had
been patched up and looked great from both the outside and inside, but
driving soon showed their real condition. Meet other 928 owners and check out their cars
We would also be delighted if you wished to come to one of our 928
meets during your search for your 928, which will give you the ideal
opportunity to see and talk to the owners of a wide range of 928 models
in an informal setting. Join the mail list too and someone near you
will probably take you for a spin in a similar car to what you are
looking for. Colour and value In the end your choice should
come down to interior and exterior colour, manual or automatic
transmission and value for money, not just condition. Remember you will
have to look at it on the drive for years so dont get something you
cant stand the colour of. That includes the interior. If you cant
afford a GTS look get a good S4, or start looking for a good S2 rather
than get a bad S4. The engineering of the 928 makes them one of the
best sports tourers available, but also means that they need regular
and timely maintenance to keep them in good condition, both before you
buy the car and after. Remember, the 928 cost 20,000 in 1978 and
72,000 in its final year of production, and all the models have
servicing costs appropriate to those high prices. (around 1000 for a
full service at a main dealer - find a real specialist near you by
asking us.) The Porsche 928 was from its very beginning a
precision-engineered car that could more than double the UK legal speed
limit at a time when many standard road cars couldnt reach 100 mph,
and that performance depends on the precise functioning of all the
components. You wouldn't expect to be able to run a Ferrari on Fiesta
money so why would you therefore expect to run a 928, which is just as
much of a performance car, any cheaper, simply because its relatively
cheap to buy? That said, if you buy a good one, you should not have any
surprise bills for a long time. See the Running and Servicing sections
for more details on costs and maintenance schedules. Independent check
When you have found your ideal 928, then we strongly recommend that you
take the car to a 928 specialist for a pre-purchase check. If there is
no 928 specialist close to where you live, then all of the official
Porsche dealers and many of the independent Porsche garages offer
pre-purchase inspections, which will give you a further insight into
the condition of your prospective purchase. Also, ask the specialist to
give you a costing of all the remedial work they find during the
inspection, which will give you a good idea of some of the costs
involved in restoring and maintaining your purchase in full working
condition. Its about two hundred quid, and then you will have a list of
all your projects for the next year. Dont expect any 928 to be perfect.
Check with the mailing list whether problems found are common and easy
to fix or nasty and expensive. For example dont worry about worn disks
and pads. Do worry about broken air conditioning if you care. Remember
an OPC inspection will tell you what you need to do to put the car to
showroom condition. Dont be put off by this and do remember the cars
arent new anymore. If its basically a good car the inspection serves as
a great list of projects to do over time. Dont be put off by paint if
its been done right unless its unexplainable and extensive. Stone chips
are common and parking bumps mean most 928's have had bumper and many
have had door paint. HPI The checklist below is intended to
provide you with a tool for finding and informing yourself about your
target cars, and is not intended to replace a specialist mechanics
review of the car on a ramp with the proper tools. In addition, this
would be a good time to do an HPI check which will cost around 40 to
see if the car has outstanding finance on it, has been written off by
an insurance company, or is reported stolen. Dont worry about plate
changes on the HPI check. Most 928s have had many different number
plates in their lifetimes. Precautions If you buy from an
enthusiast, chances are the car will have been well looked after, and
you will have the comfort of a stack of service bills to know what has
and has not been done to the car. When buying a car privately, it is a
good idea to assess the owner. Have an informal friendly chat with the
seller (or with the last owner of record if buying from a dealer), to
discover what type of person they are. Also take the opportunity to
meet them at their house, if possible; if the house looks well
maintained, then usually they would look after their cars as well.
Never buy from someone who will only meet you in a service station or a
lay by, or who can only be contacted on a mobile telephone number. Its
also not a good idea to buy from someone just leaving the country or
their agent or someone selling for a friend. They could be genuine
but... Porsche 928 Specification - Things to check during initial phone conversation Not an exhaustive list :-) Auto/manual Mileage Body colour Paintwork and panel fit - every panel Vin number matches docs - check for signs of tampering Engine number matches docs - if its absent walk away Interior colour(s) and material Does it have an MOT and service history Service history - all bills or service book stamps only FPSH or independent? Number of owners and who Length of current ownership Reason for sale Central locking working Air conditioning working? really working not just gassed for sale? Electric windows working? Electric mirrors working? Electric seats working? Electric lumbar working? Electric heated seats working? Correct type of wheels. All identical? Check part numbers carefully! Original or replacement wheels? Spacers? (Wider rear track) Correct tyres? Really? N' rated? Not just the right brand? Toolkit
complete, spanners and drivers, towing eye, jack, hazard triangle,
compressor, spare, plastic gloves and bag for dirty wheel Luggage cover Sunroof motor working - expensive ABS Stereo Engine bay all correct? Anything obviously missing? Recent steam cleaning? Why? Pas reservoir leaks? (Big ZF labelled bottle to the right) Engine oil on undertray? (Sump Gasket) Coolant in V of engine (leaks) Any spares or extras such as service manuals Check the list of option codes in the service book or on the sticker in the boot (look them up on this web site) Price, warranty, agreement to inspection by a third party GTS
models are particularly prone to oil issues due to porous cylinder
liners affecting some engines. Check the engine has been replaced or it
is not an oil burner.. Automatic engines can be destroyed by
incorrect flex plate tension. Ask if its been checked. Always check
before buying an Auto. If the owner doesnt know what this is have it
checked or walk away.
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