Good Morning! Our Spotlight car was one to watch yesterday as bids increased by only $1,000 to be followed by a $25,000 bid over and over again until the $1,000 bidder finally conceded. The comment section was lit.
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THE MARKET
Sell-Through Rate: 72%
Market Volume ($): $2,186,849
Market Volume (units): 18
- Yesterday sat at our monthly average sell-through rate of 72% with quite a high dollar volume thanks to one car in particular. Take that car out and we're below $1m for the day. In other news, smaller auction houses continue their streak of failing to sell cars. "If you list it, they will come" seems to be over.
TOP SALES
2005 Porsche Carrera GT $1,290,000 Bring a Trailer
2018 Porsche 911 GT3 6sp $181,000 PCARMARKET
1998 Porsche 911 Targa 6sp $176,993 Bring a Trailer
1991 Porsche 911 C4 Coupe 5sp $93,000 Bring a Trailer
1964 Porsche 356C Coupe $85,356 Bring a Trailer
SPOTLIGHT
PHOTO CREDIT BRING A TRAILER
Here it is folks, the lowest Carrera GT sale in over a year. Not since August of 2021 have we seen a US CGT sell for under $1.3m and the first car to sell on an online (not in-person) auction in 8 months. But I honestly wouldn't say the market is softening. Here's why.
Yes, we've had quite a number of Carrera GTs fail to sell online in recent months not hitting lofty reserves and the ones that have sold at larger events were either the right colors or had correctly placed reserves for the mileage as we saw in Miami last weekend.
Our Spotlight car, a 2005 GT Silver over Terracotta, had 14,000 miles, a KW front-axle lift kit and coil-overs, and a full set of luggage, and was offered at No Reserve. A risky move by the seller to let the market make the market but a move that brought a fair price in the end.
But the catch? The car was purchased by a dealer in NYC. While I'm not sure if the car was purchased for personal pleasure or to be flipped, it does make one wonder where a dealer goes from here should they list it for sale. Well-bought if it's a long-term keeper, but not so if they plan on flipping it in the coming year.
NOTEWORTHY SALES
- The last few 356s we've seen have failed to sell, so it was nice to see this 1964 356C find a new home for $85,356.
- I couldn't believe a 993 Targa sold for $176,993, but then I saw the magic words: RUF-Modified.
- Unfortunately, Techart doesn't carry as much weight as RUF. This 2002 Boxster S modified by Techart sold where it should have at $21,000.
NEW LISTINGS
- We obviously have a thing for Safari-style Porsches so here's a 1986 944 5sp all "Safaried" out.
- Although not as well known as the 1973 2.7 RS, don't sleep on this 1974 911 Carrera 2.7 MFI Coupe.
- How this European market 2002 911 GT2 made it over here and registered is beyond me. But the high mileage and Euro history could produce a deal.
AUCTIONS ENDED 12/13
2005 Porsche Carrera GT $1,290,000 Bring a Trailer
2018 Porsche 911 GT3 6sp $181,000 PCARMARKET
1998 Porsche 911 Targa 6sp $176,993 Bring a Trailer
2007 Porsche 911 Turbo Coupe 6sp $106,000 Bring a Trailer
1991 Porsche 911 C4 Coupe 5sp $93,000 Bring a Trailer
2020 Porsche 911 Coupe $90,500 Cars & Bids
1964 Porsche 356C Coupe $85,356 Bring a Trailer
2014 Porsche 911 C4S $72,500 PCARMARKET
1982 Porsche 911 Turbo $72,000 Bring a Trailer
2004 Porsche 911 Turbo Cab. 6sp $58,000 Bring a Trailer
2017 Porsche Macan GTS $47,500 Cars & Bids
1982 Porsche 911SC Targa $36,950 Marqued
1999 Porsche 911 Coupe 6sp $36,500 PCARMARKET
2006 Porsche Boxster S 6sp $27,000 Bring a Trailer
1999 Porsche 911 Cab. 6sp $26,000 Bring a Trailer
2002 Porsche Boxster S 6sp Techart $21,000 PCARMARKET
2019 Porsche 911 GT3 RS $0 BK Auto Auctions
2019 Porsche 911 GT3 RS $0 BK Auto Auctions
*Prices in Red denote a high bid and no sale
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