A story about a GTS and an S4SE
At an auction of an S4, a GT and a GTS in December, the GT interested Ken Drabble, whereas my interest was the GTS - the guide price was only £14-16,000 and the description was encouraging. Auction catalogues are there to create enthusiasm for the product on sale, however...
To explain - Ken had phoned me to say he intended going to the auction in Buxton, was I interested? Then began a long telephone conversation on 928 current values.
Ken has a 35,000-mile S4SE tucked away in his garage, which is exceedingly well kept, itself a huge understatement. Ken also has an inspection pit in his garage, so the underneath of his car is as well maintained as the gleaming red paintwork! It could now be one of a very select group of 928s that exceed, in my opinion, a value of £70,000.
Two views of Ken Drabble’s red 928S4SE
Digressing to 928 values in general. We’re at the beginning of a new year, yet looking back over 2023 all I read and hear about is, once again, that 928 prices have not moved. Effectively, with inflation at around 5%, that means 928s have again fallen back. At the auction, the 1988 S4 (120,000 miles and no current MOT) would only sell for £9,900 (with commission and VAT, a total of £13,000).
Moving onto the GT for a closer visual inspection, Ken found signs of red body colour underneath the Polar Silver, but this fact was printed in the catalogue details, along with the declaration that it was a Category C insurance write-off in 2004. At that point his interest fell away, particularly since the car had done 157,000 miles.
Blue GTS taken by John Drabble at Buxton
What about the dark blue GTS (MOT until April 2024 and 91,000 miles)? It now sounds like the best of the three cars. This 1995 model was one of the last to be made before production ceased that same year. The interior looks good and under the bonnet are clues to a new radiator that could have cost in excess of £1,500, if replaced recently. The radiator is double jigged with the engine oil cooler, which increases the complexity of construction. The estimated sale price of only £14-£16,000 seems very low; had the car been a manual gearbox the perceived value would be much higher.
What about the exterior? Well we have left it to the last, because this is the decider on the price estimates. Unfortunately, it’s not good news and doesn’t show up unless you can look at each panel carefully. Buyer beware.
If the minimum price of £14,000 is achieved then you have to add 12.5% commission, plus VAT. That brings you to a rounded up £19,000 and not looking quite such good value. It was down to Ken to advise me! “Negative”, he said, “It needs a complete body repaint, plus lots of smaller points that could easily add to the refurbishment cost”. That could be £10,000 for the paintwork, plus £5,000 of further expenditure!
I would like a GTS, but it’s not going to be this one. It sold at the minimum price!