Good Morning! The fun officially starts in Arizona today with both Bonhams and RM Sotheby's kicking off their sales with a slew of great Porsches. Time to see where the market starts for 2023.
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THE MARKET
Sell-Through Rate: 67%
Market Volume ($): $803,200
Market Volume (units): 18
- For the unit volume we saw yesterday you would think that our dollar volume would have crossed $1m, but it wasn't the case. Only 2 out of the 7 $100k cars ended up selling for a sell-through rate at the high end of only 43%. Ouch.
TOP SALES
2004 Porsche 911 GT3 RS $210,000 Bring a Trailer
1987 Porsche 911 Targa M491 $162,000 Bring a Trailer
2008 Porsche 911 Turbo Coupe 6sp $90,000 Bring a Trailer
2009 Porsche 911 Targa 4 6sp $52,000 Bring a Trailer
1997 Porsche 911 Cab. 6sp $48,500 Bring a Trailer
SPOTLIGHT
PHOTO CREDIT BRING A TRAILER
When it comes to GT cars, the 996 GT3 RS is the rarest of the rare with only 682 examples built in order to homologate the 911 for GT racing in Europe. Here in the USA, these are even rarer as they were never officially brought to our shores although a few cars have been imported under the NHTSA Show or Display exemption.
The 2004 911 GT3 RS above is one such car that was imported into the country under Show & Display. The car is finished in the Red livery (as opposed to blue) and shows 39,000 miles. Fairly high miles for RS, but it appeared to have no effect on the price as our Spotlight car sold for $210,000, about $35,000 over the market for cars with lower miles.
Now, it's a bit difficult to determine the market for the car here as the vast majority of 996 GT3 RS trade hands on the other side of the pond where the overall market for cars is quite lower. Looking back through historical data, not a single example has sold here, although we had a high bid of $251,996 on a US car a year and a half ago. That car had 20k fewer miles than our example here.
But the fact that the buyer now owns what some call the ultimate hard-core GT 911 is well bought to us. And the fact that the car has quite the miles means that the owner can drive it like it was meant to be driven.
NOTEWORTHY (NO) SALES
- The first 718 Cayman GT4 RS to cross the online block failed to sell at $275,000. So much for the seller's dreams of a quick flip and hefty profits.
- Yes, chopping up and modifying your 911 Speedster was a terrible idea as this highly modified 1989 911 Speedster failed to sell at $142,000.
- This 1998 911 Turbo WLS 2 Package car failed to reach half the seller's asking price with a final bid of $200,000. What exactly is the WLS 2 package? Basically, it makes your Standard Turbo a Turbo S.
NEW LISTINGS
- Bonhams Arizona sale kicks off today with this 1964 356C "GT Outlaw" Coupe with period-appropriate cosmetic and performance upgrades and matching numbers.
- And first up at RM Sotheby's Arizona sale is this 2011 911 Speedster with just shy of 4,000 miles.
- 996 GT2s like this 2002 example with 39,000 miles are probably the best bang for the buck when it comes to turbo GT cars.
AUCTIONS ENDED 1/25
2023 Porsche 718 Cayman GT4 RS Weissach $275,000 Bring a Trailer
2004 Porsche 911 GT3 RS $210,000 Bring a Trailer
1998 Porsche 911 Turbo S WLS 2 Package $200,000 PCARMARKET
1987 Porsche 911 Targa M491 $162,000 Bring a Trailer
1989 Porsche 911 Speedster Turbo Custom $142,000 PCARMARKET
1998 Porche 911 C2S Coupe 6sp $127,993 Bring a Trailer
2018 Porsche 911 C2S Cab. 7sp $97,500 PCARMARKET
2008 Porsche 911 Turbo Coupe 6sp $90,000 Bring a Trailer
2009 Porsche 911 Targa 4 6sp $52,000 Bring a Trailer
1997 Porsche 911 Cab. 6sp $48,500 Bring a Trailer
356 Speedster Replica $44,000 Barrett-Jackson
1988 Porsche 928 S4 $44,000 Barrett-Jackson
2014 Porsche Cayman S $38,500 Barrett-Jackson
2015 Porsche Cayenne Diesel $36,000 Bring a Trailer
1958 Porsche 108 Junior Tractor $30,250 Barrett-Jackson
2003 Porsche 911 Targa $27,050 Bring a Trailer
1999 Porsche 911 C4 Cab. $20,900 Barrett-Jackson
1993 Porsche 968 Coupe No Sale Guys With Rides
*Prices in Red denote a high bid and no sale
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