Introduction the purpose of this book
1 Is it the right car for you? marriage guidance
2 Cost considerations affordable, or a money pit?
3 Living with a Porsche 964 will you get along together?
4 Relative values which model for you?
5 Before you buy be well informed
6 Inspection equipment these items will really help
7 Fifteen minute evaluation walk away or stay?
8 Key points where to look for problems
9 Serious evaluation 60 minutes for years of enjoyment
10 Auctions sold! Another way to buy your dream
11 Paperwork correct documentation is essential!
12 Whats it worth? let your head rule your heart
13 Do you really want to restore? itll take longer and cost more than you think
14 Paint problems bad complexion, including dimples, pimples and bubbles
15 Problems due to lack of use just like their owners, Porsches need exercise!
16 The Community key people, organisations and companies in the Porsche world
17 Vital statistics essential data at your fingertips
Expert advice from a marque expert
Unique points scoring system to evaluate cars after inspection
Walk away or stay? quick initial evaluation of a car
How to check the car's authenticity
Which models are best
The implications of restoration
Is it the right car for you? will it fit your garage, will you fit in the car?
Running cost details
Auction pros & cons
Pros: Prices will usually be lower than those of dealers or private sellers, and you might grab a real bargain on the day. Auctioneers have usually established clear title with the seller. At the venue you can usually examine documentation relating to the vehicle.
Cons: You have to rely on a sketchy catalogue description of condition and history. The opportunity to inspect is limited, and you cannot drive the car. Auction cars are often a little below par and may require some work. It's easy to overbid. There will usually be a buyer's premium to pay in addition to the auction hammer price.
Auctions by established auctioneers are advertised in car magazines and on the auction houses websites. A catalogue, or a simple printed list of the lots for auction, might only be available a day or two ahead, though often lots are listed and pictured on auctioneers websites much earlier. Contact the auction company to ask if previous auction selling prices are available as this is useful information (details of past sales are often available on websites).
Catalogue, entry fee, and payment details
When you purchase the catalogue of the vehicles in the auction, it often acts as a ticket allowing two people to attend the viewing days and the auction. Catalogue details tend to be comparatively brief, but will include information such as one owner from new, low mileage, full service history, etc. It will also usually show a guide price to give you some idea of what to expect to pay, and will tell you what is charged as a Buyers premium. The catalogue will also contain details of acceptable forms of payment. At the fall of the hammer an immediate deposit is usually required, the balance payable within 24 hours. If you plan to pay by cash note that there may be a cash limit. Some auctions will accept payment by debit card; and sometimes credit or charge cards are acceptable, but will often incur an extra charge. A bank draft or bank transfer will have to be arranged in advance with your own bank as well as with the auction house. No car will be released before all payments are cleared. If delays occur in payment transfers then storage costs can accrue.
A buyers premium will be added to the hammer price: dont forget this in your calculations. It is not usual for there to be a further state tax or local tax on the purchase price and/or on the buyers premium.
In some instances its possible to view on the day, or days, before, as well as in the hours prior to the auction. Auction officials may be willing to help out by opening engine and luggage compartments and may allow you to inspect the interior. While the officials may start the engine for you, a test drive is out of the question. Crawling under and around the car as much as you want is permitted, but you cant suggest that the car be jacked up (or attempt to do the job yourself). You can also ask to see any documentation available.
Before you take part in the auction, decide on your maximum bid and stick to it!
It may take a while for the auctioneer to reach the lot youre interested in, so use that time to observe how other bidders behave. When its the turn of your car, attract the auctioneers attention and make an early bid. The auctioneer will then look to you for a reaction every time another bid is made; usually the bids will be in fixed increments until the bidding slows, whereupon smaller increments will often be accepted before the hammer falls. If you want to withdraw from the bidding, make sure the auctioneer understands your intentions a vigorous shake of the head when he or she looks to you for the next bid should do the trick!
Assuming that you are the successful bidder, the auctioneer will note your card or paddle number, and from that moment on you will be responsible for the vehicle.
If the car is unsold, either because it failed to reach the reserve or because there was little interest, it may be possible to negotiate with the owner, via the auctioneer, after the sale is over.
There are two more items to think about: how to get the 964 home; and insurance. If you cant drive the car, your own or a hired trailer is one way, another is to have the vehicle shipped using the facilities of a local company. The auction house will also have details of companies specialising in the transfer of cars.
Insurance for immediate cover can usually be purchased on site, but it may be more cost-effective to make arrangements with your own insurance company in advance, and then call to confirm the full details.
eBay & other online auctions
eBay and other online auctions could land you a 964 at a bargain price, though youd be foolhardy to bid without examining the car first, something most vendors encourage. A useful feature of eBay is that the geographical location of the car is shown, so you can narrow your choices to those within a realistic radius of home. Be prepared to be outbid in the last few moments of the auction. Remember, your bid is binding, and it will be very, very difficult to get restitution in the case of a crooked vendor fleecing you caveat emptor!
Be aware that some cars offered for sale in online auctions are 'ghost' cars. Dont part with any cash without being sure that the vehicle does actually exist and is as described (usually pre-bidding inspection is possible).