Good Morning! And what a morning it's been with quite the number of sales yesterday in-person at Mecum and online on Bring a Trailer. Read on for some surprises!
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THE MARKET
Sell-Through Rate: 73%
Market Volume ($): $1,358,311
Market Volume (units): 26
- Bidders showed up at Mecum yesterday producing a sell-through rate of 75% and the volume on Bring a Trailer was higher than usual pushing our market volume to a high we haven't seen in a while. Dollar volume could have pushed close to $2m had a pair of newer GT cars sold.
TOP SALES
2018 Porsche 911 GT2 RS Weissach $395,000 Bring a Trailer
1987 Porsche 911 Turbo Coupe M505 $265,000 Bring a Trailer
2019 Porsche 911 GT3 RS $254,000 Bring a Trailer
2005 Porsche 911 Turbo S Cab. 6sp $67,000 Bring a Trailer
2008 Porsche 911 C4S Cab. $43,500 Bring a Trailer
SPOTLIGHT
PHOTO CREDIT BRING A TRAILER
After six no-sales over the past month, the first 2018 GT2 RS to cross the block in 2023 finds a new home thanks to a Weissach package and PTS paint in Nardo Grey. The sale, however, shows that the market for these cars is trending down for certain.
The median price for 991 GT2s is around $396,700, which is just above the $395,000 that his example sold for. So one would think well sold, right? Well, that median includes both normal GT2s and Weissach package cars, which usually sell above the median price line. Plus, PTS usually pushes these cars even higher. The last PTS Weissach car to sell was a 2019 model that brought $475,000 only a few months ago.
That's a big slide in two months for a perfect 3,300-mile example, in a rare color, and with all the right options. We'll see what the rest of January brings as there are a number of examples selling at the Arizona auctions and online, including a very low mileage PTS Jade Green example.
NOTEWORTHY SALES
- Although not delivery mileage of 5,000 miles, this 2022 GT3 failed to sell at $242,000. The new GT market keeps on falling closer and closer to MSRP. How many months until we are there? Midsummer?
- 187,541 unrestored miles, although lots of work along the way to keep her running. This 1977 911S Targa found a new home for $31,911.
- 924s are having their day with this 1987 S selling for $20,350. "Odometer Reads" isn't the same as "actual" 16,000 miles so the price paid was a bit lower than a few of the super low mileage cars we've seen over the past two years.
NEW LISTINGS
- This 2018 GT2 RS Weissach is already up to the price of yesterday's sale with 6 days to go. The kicker? It only has 27 miles. I expect the seller wants waaayyyyy more.
- This 2003 911 Turbo Coupe 6sp Project car has money pit all over it. It's not quite at the price where a restoration makes sense. More of a backyard mechanic special.
- 911 40th Anniversary cars had a good month last month with one even selling into the $40s. A bit more miles on this 2004 911 should put it somewhere in the $20s.
AUCTIONS ENDED 1/6
2018 Porsche 911 GT2 RS Weissach $395,000 Bring a Trailer
1987 Porsche 911 Turbo Coupe M505 $265,000 Bring a Trailer
2019 Porsche 911 GT3 RS $254,000 Bring a Trailer
2022 Porsche 911 GT3 $242,000 Bring a Trailer
2019 Porsche 911 GT3 RS Weissach $230,000 PCARMARKET
2010 Porsche 911 Turbo Coupe $72,000 PCARMARKET
2005 Porsche 911 Turbo S Cab. 6sp $67,000 Bring a Trailer
2013 Porsche 911 C2S Cab. $62,500 Bring a Trailer
1981 Porsche 911SC Coupe $48,750 Bring a Trailer
2008 Porsche 911 C4S Cab. $43,500 Bring a Trailer
1981 Porsche 911 SC Targa $39,500 Bring a Trailer
2001 Porsche 911 Coupe 6sp $35,000 Bring a Trailer
2007 Porsche 911 Coupe 6sp $34,100 Mecum
1977 Porsche 911S Targa $31,911 PCARMARKET
2004 Porsche Boxster S 6sp $27,500 Mecum
2012 Porsche Cayenne $22,000 Mecum
1999 Porsche 911 C4 Cab. 6sp $22,000 Bring a Trailer
1999 Porsche 911 Cab. 6sp $20,750 Bring a Trailer
1987 Porsche 924S 5sp $20,350 Mecum
2001 Porsche 911 Coupe 6sp $20,250 Cars & Bids
1988 Porsche 928 S4 $18,250 Bring a Trailer
1999 Porsche Boxster 5sp $18,000 Bring a Trailer
2005 Porsche Cayenne $12,100 Mecum
2003 Porsche Boxster S 6sp $12,100 Mecum
1997 Porsche 911 Coupe 6sp No Sale Mecum
1987 Porsche 911 Targa 5sp No Sale Mecum
*Prices in Red denote a high bid and no sale
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