4 ms·

The number of porshes that are being sold for $14 million is a drop in the sea compared to the whole used car industry

by usaphp 9y ago

loeg 9y ago
Far-over-median priced vehicles will still drag up the average.
- AnimalMuppet 9y ago
  Yes, but... How many used cars are sold in a year? It's got to be more than a million, doesn't it? So, yes, that $15 million Porsche drives up the average price... by $15. That's not significant.
  - tmnvix 9y ago
    $15 due to a single sale seems very significant. Correct me if I'm wrong, but by your reckoning just 100 super collectable sales (average $5m) could raise the overall average by over $500.
    - usaphp 9y ago
      It's still insignificant in terms of the OP comment. Also there aren't 100 cars with an average price of 5 Mln sold per year, far from it [1] 1 - https://en.m.wikipedia.org/wiki/List_of_most_expensive_cars_sold_at_auction https://en.m.wikipedia.org/wiki/List_of_most_expensive_cars_...
      - tmnvix 9y ago
        That list shows that of the top ~20 cars sold in 2016 the average price was ~$10m.
        usaphp 9y ago
        But there are only a handful of them, which defeats the OP reasoning
  - MrFoof 9y ago
    In the US, ~45% of car registrations are new vehicles. In 2016 around 17.6 million new passenger vehicles were sold in the US with a combined transaction price between $500B and $600B. That puts used car sales (including private sales) at around 22 million units, and nearly 40M total cars sold and registered in the US in 2016. Regardless, if someone wants to complain about expensive classic cars, Porsches aren't the ones to complain about, with most (bulk being 911s from '78 - '93) trading hands well under $100K (964s being more like $50-65K, SCs more like $20-30K) despite the Porsche bubble that's been growing for a long while now -- since Ferraris long ago got too expensive for first time classic car buyers.

4 ms·

The number of porshes that are being sold for $14 million is a drop in the sea compared to the whole used car industry

by usaphp 9y ago

The number of porshes that are being sold for $14 million is a drop in the sea compared to the whole used car industry

loeg 9y ago
Far-over-median priced vehicles will still drag up the average.
- AnimalMuppet 9y ago
  Yes, but... How many used cars are sold in a year? It's got to be more than a million, doesn't it? So, yes, that $15 million Porsche drives up the average price... by $15. That's not significant.
  - tmnvix 9y ago
    $15 due to a single sale seems very significant. Correct me if I'm wrong, but by your reckoning just 100 super collectable sales (average $5m) could raise the overall average by over $500.
    - usaphp 9y ago
      It's still insignificant in terms of the OP comment. Also there aren't 100 cars with an average price of 5 Mln sold per year, far from it [1] 1 - https://en.m.wikipedia.org/wiki/List_of_most_expensive_cars_sold_at_auction https://en.m.wikipedia.org/wiki/List_of_most_expensive_cars_...
      - tmnvix 9y ago
        That list shows that of the top ~20 cars sold in 2016 the average price was ~$10m.
        usaphp 9y ago
        But there are only a handful of them, which defeats the OP reasoning
  - MrFoof 9y ago
    In the US, ~45% of car registrations are new vehicles. In 2016 around 17.6 million new passenger vehicles were sold in the US with a combined transaction price between $500B and $600B. That puts used car sales (including private sales) at around 22 million units, and nearly 40M total cars sold and registered in the US in 2016. Regardless, if someone wants to complain about expensive classic cars, Porsches aren't the ones to complain about, with most (bulk being 911s from '78 - '93) trading hands well under $100K (964s being more like $50-65K, SCs more like $20-30K) despite the Porsche bubble that's been growing for a long while now -- since Ferraris long ago got too expensive for first time classic car buyers.