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Discussion Starter · #1 ·
Anyone have any insight on purchasing a Porsche at auction? Specifically, Manheim auctions. I have a dealer friend whom I worked with before but he's never picked up a Porsche... I'm looking for a 08/09 Cayman S with tip/pdk.
 

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Anyone have any insight on purchasing a Porsche at auction? Specifically, Manheim auctions. I have a dealer friend whom I worked with before but he's never picked up a Porsche... I'm looking for a 08/09 Cayman S with tip/pdk.
Egar09
Just my opinion, I feel that when you are buying a Porsche, if you are not able to buy new than you should try to buy the very best used car that is available. CPO cars cost more, but may offer better value over time and piece of mind as these car are not cheap to repair. What ever you decide, good luck.
 

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Hmm... Interestingly I am doing the exact same thing. A friend of mine who used to work at the dealership is doing auction cars now... When I voiced the same objections as "Falcon7" here, he asked me "Where do you think the dealer gets his used cars?" ;-) good point, some trade-ins, some dealer cars come from those auctions, some go there if they take too long to sell... It's not a dirty word... The trick is for the guy who is on site to know a little about the value of options, check for obvious leaks or issues, but you can score a car about $6-10K less than what you'd pay for a CPO. All day, price wise...

Problem is: there are not very many Caymans at auctions, because there aren't very Caymans on the market...
 

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Hmm... Interestingly I am doing the exact same thing. A friend of mine who used to work at the dealership is doing auction cars now... When I voiced the same objections as "Falcon7" here, he asked me "Where do you think the dealer gets his used cars?" ;-) good point, some trade-ins, some dealer cars come from those auctions, some go there if they take too long to sell... It's not a dirty word... The trick is for the guy who is on site to know a little about the value of options, check for obvious leaks or issues, but you can score a car about $6-10K less than what you'd pay for a CPO. All day, price wise...

Problem is: there are not very many Caymans at auctions, because there aren't very Caymans on the market...
Porsche dealers will keep the best trades and send the one's they are concerned about to an auction. A non Porsche dealer may have a nice car but does not have clients that are looking for a Porsche, so it goes to the auction. The problem is that you do not have the time to get complete information on the car, so its a **** shoot, you could get lucky or buy a problem.
 

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Discussion Starter · #5 ·
Thanks for the insight everyone. Regarding possible mechanical issues - wouldn't the majority of these be covered under the 4-year manufacturer warranty?
 

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I believe a professional buyer can spot a car that has been abused either at auction or on a lot. I have not heard of any real Cayman problems. A lot of cars run thru Manheim...
 

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I'm not debating the merits, all above points are valid to an extent...
Another valid counterpoint is that an auction car, if purchased by a guy that knows his stuff, comes to you substantially cheaper than a dealer car. Substantially enough to almost replace an engine ! So after that it's all statistics ! If you have a "75% of an engine" discount and a 30% chance of getting a problem car, what do you do ? ;-) (yes, I pulled those #s out of my a$$)

To the guy who asked about warranty, probably none ! Think about it, Model years appear in the previous calendar year, so even a 2007 likely got its warranty punched sometimes in 2006. We're in 2010... a few months at best !

No, if you go the auction route, you take a little gamble to save $5-10K ! Do you feel lucky? Or do you have a good buyer... I think I might. We'll see...

(as an aside, a good buyer at carmax spotted that my VW had a new fender in 10 seconds... Npbody else ever noticed, me included, so good buyers exist!!)
 

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Wow haha, I actually have been to that auction. You really have to pick the day you go to auction because some are used Foreign days, Some days are BRAND NEW cars being sold.

Advice 1)

GET THERE VERY EARLY, even try to go in to check the car out the night before if possible as you will no time when it is in auction (each car gets 2 mins max).

Advice 2)

Figure out payment with your friend as the auction required full payment within hours of purchase (they need certified check, etc.). Definitely ask your dealer friend about the payment options.

Advice 3)

Watch the car onto the lot you are interested in drive around the lot (especially if used).

Advice 4)

There will more than likely be many Supercars (Lambos, Ferrari's, Bentleys) so don't get distracted! :hilarious:

This is the most really you need to watch for. That auction is not Barret-Jackson sytle where there are paddles, its a very quick auction (usually with 20 or so booths open) so make sure you know as much about the car as possible.
:cheers:


BTW, if you need accommodations, I can get you a nice discount for the Hampton Inn of Manheim for your stay. ;)
 

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Discussion Starter · #11 ·
Wow haha, I actually have been to that auction. You really have to pick the day you go to auction because some are used Foreign days, Some days are BRAND NEW cars being sold.

Advice 1)

GET THERE VERY EARLY, even try to go in to check the car out the night before if possible as you will no time when it is in auction (each car gets 2 mins max).

Advice 2)

Figure out payment with your friend as the auction required full payment within hours of purchase (they need certified check, etc.). Definitely ask your dealer friend about the payment options.

Advice 3)

Watch the car onto the lot you are interested in drive around the lot (especially if used).

Advice 4)

There will more than likely be many Supercars (Lambos, Ferrari's, Bentleys) so don't get distracted! :hilarious:

This is the most really you need to watch for. That auction is not Barret-Jackson sytle where there are paddles, its a very quick auction (usually with 20 or so booths open) so make sure you know as much about the car as possible.
:cheers:


BTW, if you need accommodations, I can get you a nice discount for the Hampton Inn of Manheim for your stay. ;)
Interesting. Is this their auction in PA or FL you've been to? From what I understand, they only let those registered with dealer credentials in the auction (at one time I think they allowed a guest to accompany the buyer/dealer).
 

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Discussion Starter · #12 ·
My dealer friend sent over the post-sales from 4/1 Manheim, PA. Obviously, I don't have a condition report for each but the numbers are interesting.


2007 CAYMAN 6G 2DCP A PS PB AC 37,430 SILVER $29,400
2007 CAYMAN S 6G 2DCP A PS PB AC 43,672 BLUE $31,500
2008 CAYMAN S 6G 2DCP A PS PB AC SR 9,176 DK BLUE $41,250
2008 CAYMAN S 6G 2DCP 2,023 BLACK $46,000
2008 CAYMAN S 6G 2DCP A PS PB AC SR 20,807 BLUE $38,000
2010 GT3 6G 2DCP 6 PS PB AC 2,414 WHITE $119,000
1998 911 CABRIO 6G 2DCV 6 PS PB AC CV 36,318 SILVER $37,000
 

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Interesting. Is this their auction in PA or FL you've been to? From what I understand, they only let those registered with dealer credentials in the auction (at one time I think they allowed a guest to accompany the buyer/dealer).
Pa auction
It's not what you do, it's who you know... I'll leave it at that
:cheers:
 

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Anyone have any insight on purchasing a Porsche at auction? Specifically, Manheim auctions. I have a dealer friend ..
I'm doing this next week. My friend will not be there but has a couple people on the ground there. I'm a bit concerned but they sound confident that CarFax and their other means are adequate. Is CarFax adequate? What else can you do?
I use-up cars! My glorious 43 mile commute(each way) has the choice of several routes, two different mountains, twistys, river roads, interstate, small towns and a small city. I love it! Been doing it for 18 years. I am looking for a 2007 base car with higher miles. I will drive the car every day, winter and summer, rain, snow and darkness of night. I would expect to put 180-200k miles on so that's why I don't want to pay for a low miles car. I do all my own work on my cars. I plan to set up a good winter wheel/tire package and maybe even a limited slip.
Anyone see a problem with this logic? I'm very excited. Thanks, C.
PS My wife and I had a '71 911T for a couple years but it was a toy and I didn't have to work on it much...
 
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