Good Morning! And what a morning it is here in the Northeast. I hope this email finds you on your way to a car event in your neck of the woods today.
THE MARKET
Sell-Through Rate: 63%
Market Volume ($): $1,229,750
Market Volume (units): 24
- Tough day for transaxle cars putting up a 0 on the board yesterday.
- Volume was decent but could have been well over the $1.5m mark had a number of heavy hitters hit their reserve.
TOP SALES
2017 911 Targa 4S Exclusive Design Edition $250,000 Bring a Trailer
1987 911 Turbo Coupe $205,000 Bring a Trailer
1961 356B Super 90 Cabriolet $126,000 Bring a Trailer
2007 911 GT3 3.8l Modified $100,000 PCARMARKET
1983 911 SC $83,500 Bring a Trailer
SPOTLIGHT
Are there deals buying bank-seized cars?
PHOTO CREDIT CWS MARKETING
The upcoming Henderson Auctions Motor Series sale at Barber Vintage Motorsports Museum in a few weeks features a number of cars seized by a bank including this 2011 911 Speedster among other Porsches.
A decade ago, buying cars seized by the government or a bank resulted in a below-market buy for those willing to take a shot. But how has the online auction phenomenon affected these sales in recent times?
One of the most high-profile seizure sales that comes to mind is the collection of Scott Tucker, loan shark turned IMSA racer whose Carrera GT and 911 GT2 RS were auctioned off in February of 2020 to much fanfare.
This sale was held live at the Circuit of The Americas with the preview held the night before at Ferrari of Austin. I'm sure the champagne flowed and prawns were plentiful at both events as BOTH cars sold above estimates.
The Carrera GT only slightly bested its estimate of $650,000 selling for $690,000. And the GT2 RS? Soared above its estimate by almost $100k hammering down at $470,000.
Maybe it was the booze, maybe it was the notoriety and marketing efforts by the U.S. Treasury. Or maybe the Carrera GT buyer had a time machine or a look into future values.
I'm not sure we'll see $100k over for this 2011 Speedster but I for one will be watching.
NEW & NOTEWORTHY
- How high will this highly optioned 2016 911 Turbo S Cabriolet go? To the moon?
- A beautiful special-order shade of non-metallic blue should bring all the money for this 2000 911 Carrera Cabriolet over on Bring a Trailer.
- This 1991 911 Carrera Targa modified by Akira Nakai at RWB might be worth its own spotlight deep-dive next week.
AUCTIONS ENDED 10/21
2022 911 GT3 Touring 6sp $261,959 Bring a Trailer
2017 911 Targa 4S Exclusive Design Edition $250,000 Bring a Trailer
1987 911 Turbo Coupe $205,000 Bring a Trailer
1991 964 Turbo $160,000 PCARMARKET
2019 911 Targa 4S $131,500 Cars & Bids
1961 356B Super 90 Cabriolet $126,000 Bring a Trailer
1987 911 Turbo Coupe $118,000 Bring a Trailer
2007 911 GT3 3.8l Modified $100,000 PCARMARKET
1983 911 SC $83,500 Bring a Trailer
1985 911 Carrera Coupe $75,500 Bring a Trailer
2012 911 Carrera S Cabriolet $71,500 PCARMARKET
2011 911 Carrera GTS Coupe $68,500 Bring a Trailer
1970 914/6 $65,000 PCARMARKET
2011 911 Carrera 4S Cabriolet $51,000 Cars & Bids
2004 911 40th Anniversary 6sp $48,000 Bring a Trailer
2017 Macan GTS 43,000 Cars & Bids
1994 928 GTS $47,250 Bring a Trailer
1979 911SC Targa $42,000 Bring a Trailer
2019 Cayenne $40,000 PCARMARKET
2010 Cayenne S Transsyberia $39,000 Bring a Trailer
1971 911S Coupe $36,750 Bring a Trailer
2009 Cayman S $29,500 Cars & Bids
2011 Cayenne S $18,000 Cars & Bids
1991 944 S2 5sp $16,250 Bring a Trailer
*Prices in Red denote a high bid and no sale
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