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Is anyone else surprised this '76 on BAT is $29k?


Dug Nichols

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1 hour ago, Robert Kyle said:

Get rid of the knee trim.  So much better looking. 

 

Your green car is fabulous.  

 

Fix the rust, different wheels, and no knee trim.... $40k car

 

Keep the knee trim and fit the correct OEM bumpers (incl the front over-riders) for a '74 Euro - just like the Germans originally designed it.

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Les

'74 '02 - Jade Touring (RHD)

'76 '02 - Delk's "Da Beater"

FAQ Member #17

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Here's something to think about. Is a well done Tii like the one that sold in BAT this week at $102,002 worth approximately 20 times the original sticker price ? Okay. Bad example. In a normal BAT auction is a well done Tii worth 10 times sticker or ? Yes that happens  Is a really nice base model 2002 worth 7 times it's sticker price at say 

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11 hours ago, rstclark said:

Here's something to think about. Is a well done Tii like the one that sold in BAT this week at $102,002 worth approximately 20 times the original sticker price ? Okay. Bad example. In a normal BAT auction is a well done Tii worth 10 times sticker or ? Yes that happens  Is a really nice base model 2002 worth 7 times it's sticker price at say 


Hmm...

 

Would you sell me your house for it’s 1972 price? ?

 

Best regards,

 

Steve

 

 

 

Edited by Conserv
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1976 2002 Polaris, 2742541 (original owner)

1973 2002tii Inka, 2762757 (not-the-original owner)

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Here's my take:

 

I am sure if the "times we live in" now were different then I would be surprised . Not long ago, at  auction  a 1964 Porche 356 sold for 1.7 million,  some 1.1 million more than the catalogued suggest price range of that particular day. Even stranger 1.4 million more than any similar model. Why? it was owned by Joplin, now her estate. This car even surpassed a 1.5 winning bid  for a 1957 356A Carrera, a car that has a storied racing history AND a meticulously concours restoration. Way too rich for the average enthusiast or hobby collector. For those who are not familiar with the car or even its owner( I date myself) IMHO find the car....well frankly, needing some work. Yet is fetching ridiculous money. Makes no sense. Not to the buyer, AND certainly not to the estate of Ms. Joplin for that matter.

 

My point to all this in light of the past BaT auction. The days of finding a "buy"  for these cars (Tii's) is in all likelihood  over, one  maybe will get lucky but for someone who wants into these car will have no problem paying  for that desire in owning one. The only question that will remain is how much or how bad that "need" is.  

 

I am not an expert on the classic and vintage car market. I am a car guy, grew up hot rodding a few triple 5's in my day and moved to European and British cars as I grew older and had some extra cash.... before I got married. Likely a very common path, but never lost my passion for the classics and all they offer. The 2002 are now moving from a cult status to being considered a classic. More are finding them desirable  other than those who owned one back in the day. Some say the 70's was the end of that distinction. I tend to side with that stand as I find it hard to have the same passion for the cars from the 80's, but there are a few. So when I see cars regardless of their make model or era go for what at first blush is a ridiculous price,  I see it as a recognition of the time, effort and dedication that was poured into such a project and marvel in its beauty and craftsmanship that prolongs their presence for us to admire.

 

Finally to the point, I paid 4500.00 (CAD) for a bone stock slick top 2002 it had 23K miles on it in 1976. Two years later I was faced with a decision to sell the car  or take out a loan to fix my transmission. At the time, a loan was not an option. As newly married and new home owner, and not much money in the bank it went up for sale.   As it turned out no one wanted the car, I could not sell it without a huge loss. For those few who inquired,  it  was an ugly colour, or too much work to fix the mechanicals for  others. So it sat over that winter neglected and forgotten and unsold.  I am am glad I managed to find away to keep it. I am sure IF I wanted to sell it today some 42 later after my earlier failed attempt  I could get more than 4500.00 for the car today. 

 

My, my, my.... how times have changed and I for one am  glad they have.

 

 

Edited by joysterm
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Sorry that my previous comment posted before I intended. My fat finger must have hit the send button too soon. In any event let’s pick it up again So 2002s are now selling for somewhere between  5 to 10 times original sticker price $5000 in 1974 is now worth  about &25,000 in 2020  Considering that, 2002s have held up well

 

Now here’s were the slings and arrows come in. 

$33000 in 1981 for a new Porsche 911sc 

is $93,000 in today’s dollars yet you can buy a very good 911 for $35,000 

I own and drive both cars so I can say with confidence that the 911 is a vastly superior car The engineering is spot on 

There is no need to build a performance motor  No need for a 5 speed conversion No need for suspension replacements 

No need for disc brake upgrades I could go on but you get the idea of the difference in these two cars  
people say that 911s are in a bubble and overpriced but they are not keeping up with our beloved 2002s
We are actually lucky that we can put $25,000 into restoring and modifying our cars and still have a chance to get our money back out if we choose to

2002s are a premium because so many people had one or knew someone  who did They get a strong positive reaction and put a smile on the face of people who approach you to compliment the car

The 911 on the other hand gets a much colder reaction if any at all. The public knows it’s a Porsche because they have a recognizable look over all these years But few people know the year and model difference 

The 2002s scream  1970s. Maybe it’s clearly a nostalgic image that creates interest and value

Whatever it is ,  my point is 2002s trade at a premium 

Where will it go from here is anyone’s guess 

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  • 5 weeks later...

Thanks for all of the input on my car and 02 values in general.  I own this Jade car and here are some of my thoughts.

 

I sold my Porsche 914 for $20k about 2 years ago.  It was a late model 2.0l car converted to old style bumpers.  The car was rust free and overall a nice car and but not nearly as nice as either of my 02s.  Value is in the eye of the buyer.  The buyer really wanted a 914.

 

I had purchased and sold 3 other 02s before coming across this Jade car.  To drive this car is a pure joy.  Between my current Tii and the other three 02s I sold there is no comparison.  The Jade '76 model is an extremely nice car.

 

In addition I sold my last 911 years ago.  At the time I had a '73 Tii and '81 911.  The Tii was much more fun to own, drive and work on.  In today's market I'm not sure you can buy a nice 911 for $35k.  You certainly can't buy one built and detailed to the level of this Jade 02 for $35k.  When I started looking for a clean 02 I thought I bought a couple of nice cars but they turned out needing a bunch of work so I sold them.  In comes this Jade car.  I drove it and was sold.

 

I'm not a dealer and not trying to turn this car for a profit.  I paid $33k for it and would sell it for that.  I don't need to sell it.  I have two 02s right now and feel like one should go.  My Tii is rust free and well sorted but had a color change about 6 years ago.  While the paint is close to excellent, it would need to be put back to the correct Malaga in my opinion.

 

For comparison, I'll be listing my '74 Tii later today. Hopefully it sells and I'll keep the Jade car.   I'll sell The Tii for $22k which is a good price for a rust free pretty well sorted Tii.  Both are very nice 02s.  The Jade car is nicer but it is not a Tii.

 

Again, just my thoughts and I appreciate all of the input on my car.

 

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