The Stuttgart Market Letter by Stuttgart Market Letter

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Is the $83k Profit On This 928 All That It Seems?

Plus a big day for some GT cars yesterday.

Good Morning! And happy Friday. We didn't expect to wake up this morning with such a strong sell-through rate but we'll take it after earlier this week. To all our friends down in Florida, we hope you weathered the storm well and kept those cars on higher ground.


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THE MARKET

Sell-Through Rate: 79%

Market Volume ($): $1,446,131

Market Volume (units): 19



TOP SALES

2018 911 GT2 RS Weissach $430,000 Bring a Trailer

2010 911 GT3 $160,000 PCARMARKET

1997 911 Carrera Coupe 6sp $120,000 Bring a Trailer

1994 911 Carrera Coupe 5sp $99,999 PCARMARKET

1995 911 Carrera Cabriolet $89,000 Bring a Trailer


SPOTLIGHT

image

PHOTO CREDIT BRING A TRAILER


Purchased four years ago on Bring a Trailer for $4,928, this 1978 928 5sp sold yesterday for $88,000. I know what you're thinking, this must be the flip of the century, but there's a lot to unpack here.


Back in 2018 this car was run through no-reserve with a shoddy, chipped re-spray, worn interior, and plenty of mechanical fun to put your mechanic's kid through college. Needless to say, it was a project.


Fast forward a little more than four years later, and what is offered for sale (no-reserve mind you) is an absolutely flawlessly restored example of a '70s Porsche icon with all of the right ingredients. 5sp manual, Pasha interior, perfect Metallic Silver paint, and an undercarriage you can eat off.


The majority of the restoration work was taken up by the seller and a few 928 expert friends who spent thousands of hours bringing the car back to life. Some items were outsourced to machinists and other industry experts such as gauge repair and parts were sourced and scavenged from wherever available. When you add up all of the time, parts, and sub-let work, the total comes to way more than $88,000.


So was this a steal for the buyer and a bust for the seller?


I think both parties can be very happy with this strong result. The buyer skipped the line and the bill for a restoration of their own accord and the seller got the experience of their first 928 restoration with the help of some great friends. Both are winners here in my book.


NEW & NOTEWORTHY


AUCTIONS ENDED 11/10

2018 911 GT2 RS Weissach $430,000 Bring a Trailer

2008 911 GT3 RS $205,000 Bring a Trailer

2003 911 GT2 $182,000 PCARMARKET

2010 911 GT3 $160,000 PCARMARKET

1997 911 Carrera Coupe 6sp $120,000 Bring a Trailer

1994 911 Carrera Coupe 5sp $99,999 PCARMARKET

1995 911 Carrera Cabriolet $89,000 Bring a Trailer

1978 928 5sp $88,000 Bring a Trailer

1991 911 Carrera Coupe 5sp $85,000 Bring a Trailer

1984 911 Turbo $80,000 Bring a Trailer

1965 356C Coupe $78,500 Bring a Trailer

2008 911 Carrera 4S Coupe $57,000 Bring a Trailer

2016 Cayman GTS $56,505 Bring a Trailer

2005 911 Carrera Coupe 6sp $33,750 Cars & Bids

2005 911 Carrera Cabriolet 6sp $32,000 Bring a Trailer

2005 Boxster S 6sp $30,750 Bring a Trailer

1988 944 Turbo $27,900 Bring a Trailer

1983 944 5sp $20,000 Bring a Trailer

2009 Cayenne GTS $19,377 Bring a Trailer


*Prices in Red denote a high bid and no sale

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