Good Morning! A stronger day in the Porsche market yesterday was led by the sale of a $420k 911 R. A number of no-sales over $100k could have pushed market volume over $2m had they hammered down and found new homes.
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THE MARKET
Sell-Through Rate: 75%
Market Volume ($): $1,565,552
Market Volume (units): 20
- While a 75% sell-through rate looks good, it's not even split between pricing tiers. Cars over $100k had a sell-through rate of 60% while cars under were at 90%
- Over $1m of yesterday's market volume was produced by the top 5 sales below.
TOP SALES
2016 911 R $420,250 Bring a Trailer
1973 911T Coupe $255,000 Bring a Trailer
2018 911 GT3 Touring 6sp $183,000 Bring a Trailer
1998 911 Carrera S Coupe 6sp $126,000 Bring a Trailer
2012 911 Turbo S Cabriolet $112,500 Bring a Trailer
SPOTLIGHT
PHOTO CREDIT BRING A TRAILER
If you looked at the last handful of sales for 911 R, you'd think they are heading in a downward trajectory like some of the other 991-generation GT offerings. But if you pull back and look at the picture a year paints, there seems to be a slight lift in the average price line with the most interesting part being the swing in prices above and below the average.
We see prices as low as $395,000, a high sale of $533,000, and everything in between. One would think ok, that's normal, it must be the difference in mileage. But no, they are all either delivery mileage or low mileage examples with the highest being 5,300.
So what gives? Well, it seems that the 911 R is VERY price sensitive when it comes to options. Take the most popular color combo sold at auction, White w/ Red stripes and Houndstooth inserts, and change one option: CXX Blue Stripes. Those blue stripes added an additional $83,000 to the hammer price with mileage being equal.
How's PTS affect prices at auction you may ask? The last PTS R to cross the auction block was a little more than a year ago and sold for a little over $100,000 more than a similar mileage car.
You may recall that I wrote about the effect color has on the GT car market a few weeks ago. With your "typical" higher production GT car, color only has a 5.4% effect on the price. But when you have a very limited car (991) offered in only two colors as standard with only ~70 leaving the factory bound for North America in PTS, the demand for something different skyrockets.
NEW & NOTEWORTHY
- I prefer my Turbo's shaken, not stirred, like this Martini livery 2007 911 Turbo Coupe. Be sure to bring your license to kill.
- This non-sunroof 1993 911 RS America should bring all the money with its low miles and Guards Red paint.
- If the replica 356 article from yesterday had you thinking, now is your chance to bid on this 356 Speedster by Vintage Motorcars.
- Anything in GT Silver gets our bid like this 2004 Boxster S 550 Anniversary Edition.
AUCTIONS ENDED 11/2
2016 911 R $420,250 Bring a Trailer
1973 911T Coupe $255,000 Bring a Trailer
1984 911 Turbo Race Car $185,000 Bring a Trailer
2018 911 GT3 Touring 6sp $183,000 Bring a Trailer
1998 911 Carrera S Coupe 6sp $126,000 Bring a Trailer
2020 911 Carrera S 7sp $114,000 PCARMARKET
2012 911 Turbo S Cabriolet $112,500 Bring a Trailer
2021 911 Carrera Cabriolet $112,000 PCARMARKET
2018 911 Turbo Cabriolet $110,000 PCARMARKET
2005 911 Turbo S Coupe 6sp $100,997 Bring a Trailer
1971 911T Targa $80,000 Bring a Trailer
2014 911 Carrera S Coupe $71,500 Cars & Bids
2014 Panamera Turbo S $67,555 Bring a Trailer
1967 912 Coupe 5sp $52,500 Bring a Trailer
1974 911 Coupe 5sp $52,500 Bring a Trailer
1983 911SC Targa $46,250 Bring a Trailer
1995 911 Cabriolet 6sp $44,000 Bring a Trailer
2000 Boxster $17,250 Bring a Trailer
2004 Cayenne Turbo $11,000 Cars & Bids
2000 Boxster 5sp $6,250 PCARMARKET
*Prices in Red denote a high bid and no sale
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