Buying Advice on '02 C4 w/ Rebuilt Engine

I'm new to this board and while I've been lurking a lot, this is my first post. I found a 2002 Cabriolet Carrera 4 near me for sale, and the seller hasn't disclosed an asking price since he is collecting offers and will accept the highest one on Friday (4/20). So I'm trying to determine what to offer. Here are the details of the car: 68k miles Black on Black Engine rebuilt by a Porsche dealer 4 years ago, to the tune of $19k. The engine rebuild included a new IMC as well as an updated "AS Space Shaft" (Part # 996-105-901-06) which was $1,509. It has Bose, OEM nav and PSM options The negatives are that the tires are 12 years old, it hasn't had a brake flush in 4 years, and is due for an oil change. Also, the body has had some bodywork and needs some fairly minor paintwork (i.e. a bumper repaint, buffing, etc). I've looked up KBB and Carfax values that span between $17.8k and $20.2k, although I realize those aren't very accurate. Local listings for comparable listings aren't very plentiful and none really match this car. So I have two questions: According to the seller the updated AS Spacer Shaft should address any future IMS issues. I called two indy shops and one said that's not true, the other said this could be true but the larger, updated shaft would also make any future IMS replacements would more challenging since you'd have to remove the whole engine. What do you think? Also, what's the best way to value this car?

Keep looking. Well sorted Cabs can be found for mid to high teens. Lot of factors going on with the car that make it a bit difficult to put a price on it. I'm guessing the owner thinks the rebuild makes it a $25-28K car.

Best advice ever: Avoid cars and women with "stories".

What the heck is an "AS Spacer Shaft"? Given the overall lack of maintenance (12 year old tires??) and attention to details, I would not consider this car. You are going to end up with some expensive problems and will probably regret the purchase in the end. Keep looking.

12 yr old tires? that's impressive, in all the wrong ways.

Deferred maintenance like that = a neglected car. I'd say move on. There are lots of well cared for 996s out there.

Since I was curious I ran the "AS Space Shaft" P/N 996-105-901-06. That is in reality the Intermediate Shaft (IMS). So the engine rebuild included a new Intermediate shaft (IMS) and a new intermediate shaft bearing (IMSB). Just so you know the actual correct parts and terminology. I find it a bit strange that a Porsche dealer would rebuild an engine. Usually they just put another factory engine in, collect your money and tell you to have a nice day.

Seller is "collecting offers?" Ha! That's a good one. Offer $9,000, that should be the highest and winning offer. Car will probably still be available for sale in 6 months.

I suspect the owner is overvaluing his car, in an era of widespread expectations that 911s are appreciating wildly, and that the recent rebuild adds ~$12K to the value of this car. IMO, he's fishing for an unreasonably high offer from a poorly informed, but well heeled buyer. Toss him a low bid of ~12K or so, with a note that you're an all-cash buyer, ready to close.

Is the oil 4 years old to?

The oil is 14 months old, so that's also overdue. So the most recent services have been delayed, which I realize is not a good sign. But he does have extensive records going back at least 10 years and almost all of them are from the dealer. So for the most part it looks like it has been well maintained until just recently. He works at the same large company that I do and hasn't advertised it anywhere. I believe he's just testing the market since he's buying a new car and trying to determine whether or not to trade it in. There's no pressure here at all and I don't believe he's trying to scam anyone; he's just determining if he can get more than his trade-in offer. That's also why I'm trying to determine how valuable the car is, specifically around how much the engine rebuild in 2014 adds or detracts from the value, and whether the updated IMS bearing / "AS Spacer shaft" is still problematic.

The questions are - why was the engine rebuilt? And what was done in the rebuild process? Why was the intermediate shaft replaced, along with the bearing? What type of IMS bearing was used in the rebuild? These are really important questions. My advice remains the same...(12 year old tires, oil not changed in 14 months, no brake fluid flush in 4 years)...you will have problems with this car, and Porsche problems are expensive. The overall general lack of maintenance or attention spells disaster in my book. Actually, it would with any car.

I would offer your minimum ($17,800) and get in the game. Did you see the car in person?

Quotes source post: 14952806

The only IMS available thru PCNA is the last design with the large bearing so that is all most dealerships will use. If maintenance is overdue, my preference is for it to be the tires.

This could still be an Ok car. Lack of fluid changes and old tires sometimes is just from lack of use. Do you know how many miles since the rebuild? I would get more details on the rebuild and if it checks out go for it. It's a pretty low mileage car