2008 Cayman S for $50k CAD. Crazy pricing or justified?

Been looking for a 987 Cayman S and came across a low mileage fully loaded 6 speed Cayman S . It's fully loaded minus PCM . Sport Chrono , PASM , 19" wheels, sport seats, bi-xenons, Bose , Porsche logo in headrests, every box was ticked. All the service history is also included. It's a very well maintained car and it's in great shape. So this brings me to my question.. Is this car seriously a good purchase at almost $50K Canadian? The car has about 15k miles / 25k kms and was $90K new 13 years ago. I feel like pre-pandemic, a car like this wouldn't have gone for more than $40K and that if I wait a few more months (winter or spring 2022), the prices should drop back down to "normal".. I really want one but I feel like I'd be paying a 20% premium at the tail end of an insane market and it's still a first gen 987. If I wait, I can probably get a similar low mileage 987.2 Cayman S for the same or similar money. Thoughts?

I don't mean to be insulting to the seller, but that smacks of opportunistic reaching, and nothing more. For $50k, of course I am talking American dollars, you are in the heart of 981 territory. Although you might prefer a 987 Era Porsche, many do, you shouldn't have to pay 981 prices. You did ask. By the way, using your $90k value originally..... If I used that value equation, then I paid $18k for a car that was, at one time, worth just short of $60k. (987.1 Boxster with 47,000 miles) So let's round it and say I paid 30% of original value. 30% of $90k? That's actually about the normal fetching rate for a 987.1 S that is in fantastic condition. Sent from my SM-G988U using Tapatalk

@snakebitten I'm in no way associated or affiliated with the seller so you can say whatever you want. I think it's opportunistic pricing as well. $50k CAD is more like $40k USD. As far as your % equation, that's precisely my point. He's asking 55% of the original new price. Your 30% model would translate to this car being valued at $27k. Add in the fact that this car has very low mileage, a full documented service history and fully loaded, I'd even be willing to stretch to 40% which is still only $36k CAD so actually this car is priced at a 39% premium in my mind.

I like your math and I think you will find that it will hold up just fine if you keep looking. The biggest problem with that math currently is that it can't take in to account just which cars are available and how many. What I'm getting at is that the sweet spot, arguably, is the 987.2 It's just as beautiful as the 987.1, but is a fair leap forward in Porsche development and refinement, especially for those that desire an automatic transmission. However, it's also the hardest car to find because there were so much fewer of them manufactured. (world economy sucked) Because of all that, if you are shopping and running out of patience, you are looking at cars with a bigger spread in price, 987.1 VS 981, because the middle car is missing, 987.2 Personally the 981 is out of my price range for a third car, especially in this sudden jump of $10-15k in used values. The 987.2 are a great value equation, but you have to have the patience of Job and be ready to pounce if one comes up. But the 987.1 is still plentiful, and they are gorgeous, and they can be found in low mileage (relatively speaking) well kept condition, and even with the Covid escalated values, still an amazing value equation for a world class classic sports car. Good luck with your search. I can promise you that the first night your Porsche is parked in the garage, it's really difficult to get any sleep. Sent from my SM-G988U using Tapatalk

When the pandemic hit I bought my 987.2S in great condition for 32k US $. What is happening now is crazy. I wanted to buy another P car for my wife, but it's just a different game now. It seams that the prices wont drop soon either. Appreciation for the 987 is growing too. Nevertheless, this is not a moment to buy. Maybe in 1 or 2 years.

Wow. Yeah $32k US for a 987.2 isn't even $40k CAD. I'd HAPPILY pay $50k CAD for a great condition 987.2S haha The market is definitely crazy. I'll continue to wait. I'm not interested in participating in the madness. Hopefully it's less than 2 years though. I'll keep my eyes open throughout the winter and in the spring.

Lol I see that I really didn't need to write my novel. Good luck! And let us know. Sent from my SM-G988U using Tapatalk

Big issue with this is Canada. We have hardly any selection to choose from. So, as you learn.... if you want. It's going to cost you. I overpaid last June for my 07 by a good 7k. I could sell my car for more than I paid if I was to post it, but that's not happening. Same for next gen up and so on.....$$$$$ Sent from my SM-G991W using Tapatalk

Yeah, it's definitely an issue. I'm seeing a bunch of GT4s coming up for sale though. No shortage of those it seems! Any more details on the mileage and price of your car? If you don't want to reveal it publicly, you can always PM me. I'm passing on this particular car. It doesn't sit right with me to pay $50k + both taxes. After seeing and test driving the car, I liked it but I didn't think it was worth $55k+ with taxes. Side note: the seller thinks that the original tires that are on the car (date stamped from 2008) are perfectly fine and safe and that there is absolutely no need to replace them..."LOL"

My seats and steering wheel are worth $20k alone... My car is not for sale [emoji846] Sent from my SM-G991W using Tapatalk

Lol.

.....if you can't say something nice. Go back and edit with "lol" [emoji6] Sent from my SM-G991W using Tapatalk

Sorry, I guess my reply wasn't clear. I wasn't interested in buying your car. I was only asking what you paid to just get an additional data point of actual transactions versus asking prices.

Gotcha. It's apples to oranges at this point. Had to drive from Ottawa to Montreal. It listed at 4pm. I called 4:07pm and was first to give the deposit. Had to be there by 10am to either buy it or pass. When I got there at 10, there were 3 in the showroom waiting for my refusal and 15 more behind them I was told. [emoji2371] Car is a Boxster vs Cayman so there's your apple and orange. Also 2007 Listed at 36k plus tax. That's what I paid. Which back then, was 7k over market out the door. Not awful considering how clean it was. Now, the car sells for even more (in Canada.... because minimal options out there) 3 owner car. No accidents. Dealer serviced. Low miles and cleeeeeeeeean. Your seller for 50k on original tires .... is this a dealer or private sale? No way in hell 2008 date code tires should pass, but nobody pays much attention to that with safety certification depending what province you are in. Covid has been a spendy 1.5 years [emoji1787] Probably close to the most money tossed at a 987 on the continent. 987 platform is the most enjoyable of all the cars I own(ed). 981 GTS would be the only thing I would shoot for if budget allows.... and those are 90k+ here GT4's are indeed out there to pick from around 110-125k New GTS 4.0 Cayman territory if you could secure an allocation (lolnoooooope) And down the rabbit hole we go...... Sent from my SM-G991W using Tapatalk

Definitely a nice looking car. I don't follow Boxster pricing too much but I'd say that's a decent price for a low mileage clean car like that. So this seller isn't an actual dealer but he had the car bonded under his company name so it would not qualify as a private sale. The buyer would have to pay both taxes. The Autotrader listing has it as a private seller though. I pointed this out to him but he didn't seem to care. It's probably a tactic to encourage more inquiries. Sketchy sh*t in my opinion. Apparently in Quebec, tire manufacturing dates mean nothing. In Ontario, you can't get a car safetied if the tires are more than 7 years old. In Quebec, they do an inspection for cracks and thread depth. Scary but true. I called an SAAQ-certified shop to find out the details.

The very same thing happened with me and a completely batshitcrazy lady from Quebec who registered her car under her company. She wanted me to pay both taxes to her, and them for me to pay the tax when I registered it in Ontario. Could not grasp this was insane. And she was 10k over market. Roasted tires . Poor quality non OEM windshield replacement. A zillion other things wrong with the car. Pandemic Priced!

hahah yeah run away! I'm assuming this is NOT the car you ended up purchasing...right?

No. It was desirable for sure.... macadamia metallic with nearly every option on offer. But a hot mess. My car came from Lauzon Porsche. Highly recommend. We refer to the Brown Boxster as PooCar I would buy a Cayman in that combo in a hot second. Sent from my SM-G991W using Tapatalk

Keep an eye out on Carvana.com...check it every day at least once. You may get lucky ..I did. Bought my 2009 987.2 base with a manual transmission and 34k miles on it for $24k at the beginning of this year. I checked the site a few times a day for 2 months. Snagged it as soon as it came on the site.

With all of the elevated prices, I have become tempted to see what I could get for my Cayman S . I just got it dialled in as I like it with the new head unit nav system. A few paint blemishes, but overall pretty nice. Seems that I could get back what I paid into it, and have had the Cayman experience for nearly five years.

Op is in Canada. We have no carmax etc. Sent from my SM-G991W using Tapatalk

Thanks for the suggestion. Never really used it since it's a US-based site but they had a couple nice Caymans that were spoken for already. I did find a pretty awesome Cayman S Black Edition on BaT which seems like an absolute STEAL compared to similar Black Editions in Canada. I'm talking double the price. Insane.

Seriously, you might not get another chance to take advantage of a market like this. Might as well test the market. People are willing to pay a premium right now, but I'm not sure if the same frenzy is happening in the US like it is in Canada. What year is your Cayman?

The market for 987 is going to be like 993. There, I said it. With the electric generation imminent, the NA flat 6 cars are going to appreciate in the same fashion the 993/964 has. The turbo4, less so but Dino powered 6's are never a bad buy (caveat 996 unsorted IMS /RMS etc) The BaT isn't over.... wait and see what it closes at, plus the buyers premium over that. Sent from my SM-G991W using Tapatalk

Maybe I don't want to see it or admit it but I can't imagine the Cayman appreciating that much. But with electrification, anything is possible. I expect this particular listing to land at $40k by the end + there's the 5% buyer's fee. You're right.

I just put $2300 worth of tires on my 05 Boxster S with the later IMS . 65,000 km. I have it on the PCA site. $32,000 Canadian. These are not cheap cars to own so why not?

I would jump on it. Get it. I was on the market for either an older 911 or a 987.2 for six months. I was on every possible forum and online market. I came close to a couple that were across the country and I was going to trailer them to Los Angeles. I held out and then I got an alert that a 2009 987.2 was coming into the dealership miles from my house. It had less than 30k, was 33k, and just like yours had everything in great condition. I bought it on the spot that afternoon and they had a dozen or so people calling to test drive it were it to have sat there for a full second day for sale. I have been driving with a huge smile everyday I am in that car. And because I stayed on the forums, I've seen what they're going for and how fast they are selling. The two weeks ago the dealership called and asked if they could buy it back for 7k over what I paid for it. And that's a dealership so probably a low ball offer. I guess they had a buyer looking for that exact year and model. What other investment makes you 7k on a 33k in one year? Of course, I'm racking up miles now. But they sure are fun. My two cents, since you asked. It's not apples to apples but pretty close.

I've been following the 987 Cayman market in Canada for the last 5 years religiously. 5 years ago I decided that a 987.2 was the car I wanted and the search was on. I had considered importing from the US but at the time it wasn't worth it with the exchange and hassle. I ended up buying my base 987.2 6MT with 42,000km for $42,000. Prices seemed quite stable until this year when prices shot up by like 25%. I'm questioning if Canadians are actually paying those prices or if dealers have just reset to that price level thinking if Canadians won't pay it they will just ship the cars to the US and sell them there? Either way, cars that are very comparable to mine are now $56,000 on Autotrader. I've been saying I'm very glad I bought when I did as I don't know I would be interested in spending that much on a 10+ year old Porsche. Don't get my wrong, the car is absolute magic, and I absolutely love it, but it's a lot more money now. As far as the future goes, I'm not expecting these cars to depreciate from here, so long as they are well maintained and looked after and the odometer isn't run up too much. Someone mentioned 993 and I think there is merit in that comparison. No, 987's will NEVER fetch 993 prices, 993 is just a much more desirable car, however a lot of the traits that make people love the 993 are present in the 987. Traits like a smaller footprint with a shorter wheelbase, hydro steering, rounded organic styling (the hard cut lines and plastic rocker panels I HATE on the 981 and 982 cars, and the bloated hatch isn't great either) and enough power to be quick but yet still pushable on the street, plus flat 6 engines.

I don't agree. I think the 987.2 S or R in manual is better than most 993s. The price doesn't reflect that, or maybe it will in 30 years.

The equation is weighted by age too. And I'm not talking about the age of the car, but the age of the buyer. When I was younger my discretionary income, as well as by accountability to my urchins and mortgage company was very different than now. I'm old, no mortgage, and my kids not only can't tell me what to do, but even better, I get the joy of making their eyes roll. It's something I didn't see coming and it's awesome! Anyways, I might have "waited the market out" with more discipline than I will today. I'm in my 60's and healthy enough to still pretend to be...... Well, able get in and out of little cars that are absolutely a hoot to drive. Don't get me wrong, I'm a diligent researcher and I'm still looking for a "good deal", but if something tickles my fancy enough, I ain't letting a few grand rob me of my dwindling prime-time. Recently fetched my first Porsche. Way underestimated how much I would enjoy the dang thing. Wow, is all I can say. I shoulda been paying closer attention. Lol Sent from my SM-G988U using Tapatalk

OK, just a couple disjointed pointers ... 1. Houses are not useless objects like sports cars. Actually, it is very, very hard to find two things as opposite without going to particle-antiparticle pairings. I wouldn't use data points from housing market into sports car market. They are both in short supply, yes, but not even close to same and motivation of the buyers is completely different. 2. I am out in the Southwest desert right now. To get here, I needed to suffer couple cattle-carrier experiences, something I would cut very short if I were spending my own money. I would have asked for my bags and went home instead. Point is, people are so demolished that they will accept pimping out teenage daughter as a fair price to pay in order to feel "normal". This might or might not last. It will largely depend on women, IMO. 3. Government(s) flooded the market with money. Serious money. T-starting amounts of money, not B-starting. There are people out there now that have money to spend on frivolities and which is going to dry out in 30-60 days no matter what now that Government(s) shut down the pipeline. I know, none of these people are buying house or sports car with windfall, but they sure as $hit are feeding the frenzy. Big time. Finally, air cooled/water cooled effects on 993 prices are going to be nothing once we get EV-only sports car. Many intelligent people rationalize a lot. Myself included, without necessarily being intelligent. I just asked a guy I met here why did he get 4S Porsche in Los Angeles and he was taken aback a bit. Then he said that " Tesla guys always want to race. I also have an S at home." Point being, when that emotional component goes away, I am really looking forward to hear all forum excuses of smart people why are they buying and overpaying very poorly performing 981, 987 or yes, even 982 when a performance killing machines EV Boxster/Cayman are out there [emoji4] Don't overthink it. Frenzy+loose money will make a bubble even out of colonoscopy. Sent from my Pixel 4a using Tapatalk

While the logic of that well articulated post would likely hold up to logical scrutiny, we aren't a species solely driven by logic regardless of our plight. Sure, when times aren't as fat as they currently are, then logic increases. I fully agree with that premise. But there's part of us that desires to throw caution (logic) to the wind and just have a ball. If only to escape for a moment. So whatever the going rate at the time is for a..... Well in this case a 987.2 , that 987.2 will be worth it to someone. As for electric, I'm as unpolarized as you can get on the subject. Yesterday I thoroughly enjoyed the pure analog-ness of a 987.1 but today I marveled as I plugged a 30Amp RV cable into the 240V 72KW power outlet in the bed of a new F150 Hybrid. They each have their place in the emotional portion of my makeup, and if forced to, I guess I could defend them with logic as well. But I'd prefer to avoid it. Lol Sent from my SM-G988U using Tapatalk

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Please don't take it personally, but this is very difficult to read/understand. We are simple people here. There was too much demand, people had too much time, and people who had any savings decided "**** it, let's buy the dream object now, maybe I won't even survive this pandemic". Then there are EV's coming, which they are for decades now. Brands like Porsche will play this card for the next 50 years.

I've watched some of that guys videos and I like his data driven analysis approach. He has plenty of videos on the Boxster/Cayman specifically, where he clearly shows how the 986 and 987 Base markets have essentially bottomed, and the 987 S close as well.

His video is 2 years old. Pre covid madness. And a touch behind the "e" massive drive across the board. So his data is good. Not accurately portraying this market we are in, especially moving forward. Sent from my SM-G991W using Tapatalk

I think you might have missed the point (or at least the implication) of Hokie987.1’s post — at least my interpretation of it. That is, 986 and 987 models bottomed out - two years ago . In other words, they were either holding steady or appreciating before Covid scarcity, before the announcement that all Caymans were going electric, and before the Fed began printing funny money on a historical scale. (I don’t think we need a YouTube personality to explain what each of those factors will do to prices.)

There is no better propulsion than EV for grocery-getters. IMO. Grocery getters are bought like houses or appliances - it is something you need and you have relatively practical criteria the product has to meet. IMO. Sports cars are by definition useless - if they aren't useless, I wouldn't call them sports cars. IMO. They are bought/desired by an entirely different set of parameters. I wouldn't desire EV-powered sports car nearly as much as I would ICE-powered sports car. But that is just me. Time will tell how many other people agree with me. Sent from my Pixel 4a using Tapatalk

Cincioh Again, I really do get your point, but I could argue that since I am in a vehicle alone 90% of the time, especially going from the abode to the office, my sports car is just as useFUL as my truck (or motorcycle) at transporting me to and back. (Although I completely agree that emotionally, regardless of any logic, I neeeeed ICE and gears and noise to fully enjoy) I admit that if circumstance required me to only have one vehicle, then the Porsche would prove to be less useful, but only for that 10%. Yet that 10% is compulsory and therefore would nix the Porsche from being my sole vehicle. EV's are fixing to break out of the either/or grocery getter/performance car mold really soon. That EV F150 just can't be squeezed into either category. And it's predecessor, the Hybrid F150 with the 3.5 Twin Turbo is re-writing what "useful" can mean.

My 20 year old Volvo just roached its motor. Therefore, my 987.1 IS my commuter and grocery getter. Because I am not taking a VFR800 motorcycle to work when it is 110F.