Are you in the market to buy (or sell) a Porsche 911Turbo in Ibadan? Vehiclus studied the local used auto market of all cities in Nigeria to determine a pricing profile of various Porsche models depending on their age, technical condition, optical condition, and mileage. If you want to maximize your profits when selling your 911Turbo (or to be certain to not be overcharged when buying a Porsche 911Turbo) it is useful to learn all price-determining variables.
Ibadan is a town with a current population of 3565108 . However, there are not many Porsche 911Turbo available on the market. Hence, the supply is not high and the demand depends on various of factors such as brand reputation, mileage, and reliability.
As described in the figure below, cars of the make Porsche and specially of the model 911Turbo loose their value in a very normal fashion. The mean asking price of the 911Turbo will be decreased by up to 13% ($105,776) after only 1 year. After 3 years, the car typically costs only 61% of its original asking price ($75,549) while it will only be valued at 28% of the MSRP after 7 years ($34,143). The 911Turbo's value after 12 years is only 10% of its initial price depending on its condition of course.
Another way to describe vehicle depreciation is to study the loss of value over kilometers driven. The Porsche 911Turbo depreciation curve below illustrates this phenomenon for Ibadan. The 911Turbo looses most of its resell price (approximately 45%) within the first 20,000miles (30,000km) driven. The typical price for a 911Turbo at that mileage is ca $68,434. After that the depreciation plateaus: at 90k kilometers the Porsche 911Turbo is sold for $39,411 in Ibadan and for $19,688 at 180,000km of mileage.
The last parameter that heavily effects the selling price of a second-hand car is the technical and optical condition of the vehicle. The table below shows the deflation of a Porsche 911Turbo according to its year and its condition.
|Vehicle Year||Porsche 911Turbo Condition|
|Porsche 911Turbo variations:|
|911TURBO (420ch) BVA|
|911TURBO (420ch) 2PL BVA|
|911TURBO (420ch) 2PL|