Good Morning! One week from today our crew will be heading to Amelia Island to take in some sand, sunshine, and all of the auction excitement. Can you tell we're excited? If you plan on being down there reply to this email. Would love to meet some subscribers.
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THE MARKET
Sell-Through Rate: 50%
Market Volume ($): $449,355
Market Volume (units): 12
- The upper end of the market took a hit yesterday as 5 out of 6 cars over $100k failed to sell resulting in a 50% sell-through rate and less than $500k in dollar volume off of only a dozen cars. Ouch.
TOP SALES
2018 Porsche 911 GT3 $168,000 Bring a Trailer
2003 Porsche 911 Turbo Coupe X50 6sp $87,000 Bring a Trailer
1987 Porsche 911 Coupe G50 $81,000 Bring a Trailer
2018 Porsche 718 Cayman S $60,555 Cars & Bids
2004 Porsche 911 Turbo Cab. $30,550 Marqued
SPOTLIGHT
PHOTO CREDIT PCARMARKET
We're big fans of the 40th Anniversary 996 Coupe here at The Stuttgart Market Letter. With just the right touches to the exterior and interior plus a bit more power, you can get a special, numbered, version of the Carrera 2 for not a lot of money. And as this sale shows, they might be getting a tad bit cheaper.
The 40th Anniversary 911 was built to commemorate just that, the 40th anniversary of the first 911 introduced in 1963. Following a line of other 911 anniversary editions, the 40th features GT Silver Metallic paint over a Turbo front fascia and GT3 side skirts and polished 5-spoke wheels unique to the model.
Anniversary cars differ from standard Carrera 2s mechanically with an X51 Power Kit bumping horsepower to 341, turbo radiators, limited slip differential, and sport suspension. Inside the car is laden with Natural Gray Leather, sports seats, and a numbered plaque designating which of the 1,963 cars you own.
Our Spotlight car, the 2004 example pictured above, sold on PCARMARKET yesterday for $41,500 with 49,000 miles on the odometer, which is in line with recent sales over the past few months. But four months ago you could have added $4-6,000 to the price for a fair deal. The market may appear to be softening on these but they are still ahead of the standard car. Well-bought while we're in a bit of a lull.
NOTEWORTHY SALES
- The fact that this 2023 911 Targa 4 GTS 7sp was bid to $205,000, $15,000 over sticker, was a surprise to us. What is even more surprising is the seller wanted even more with standard non-GT 911s selling for just below MSRP these days. And it wasn't even Paint To Sample.
- Strong money for this 1987 911 Coupe at $81,000, especially with 135,000 miles. We haven't seen prices like this in six months. It must have been the Resale Red paint. Well sold for sure.
- Speed Yellow just doesn't seem to close deals anymore as this 2007 911 Turbo Coupe 6sp was bid up to $106,997 failing to meet the reserve. But to be honest, $107k would have been top-dollar for a 28,000-mile car. Should have sold at that price.
NEW LISTINGS
- If only all sellers could rent a photo studio like the one this gorgeous 1980 911SC Targa was photographed in. The perfect lighting shows the rare shade of Petrol Blue Metallic paint off perfectly. Photos sell cars, will be interesting to see where this one ends up.
- Just when you thought Sackey & Co. had closed their doors they are back with this 38,000-mile four-option 1993 Porsche RS America finished in Guards Red.
- This 1982 911 Turbo built by Andial is the star at Bonhams Amelia Island sale for us this year. Stoked out to 3.5 liters, upgraded k27/11 turbocharges, and a whole host of other performance goodies, this Grand Prix White Turbo surely goes like stink.
AUCTIONS ENDED 2/21
2023 Porsche 911 Targa 4 GTS 7sp $205,000 Bring a Trailer
2018 Porsche 911 GT3 $168,000 Bring a Trailer
2016 Porsche 911 GT3 RS $165,000 Bring a Trailer
2022 Porsche Cayenne Turo $125,000 Bring a Trailer
2015 Porsche 911 Turbo S Cab. $110,000 Bring a Trailer
2007 Porsche 911 Turbo Coupe X50 6sp $106,997 PCARMARKET
2003 Porsche 911 Turbo Coupe X50 6sp $87,000 Bring a Trailer
1987 Porsche 911 Coupe G50 $81,000 Bring a Trailer
2018 Porsche 718 Cayman S $60,555 Cars & Bids
1987 Porsche 911 Targa G50 Turbocharged $42,000 PCARMARKET
2004 Porsche 911 Turbo Cab. $30,550 Marqued
2014 Porsche Cayenne Diesel Platinum Edition $22,250 Bring a Trailer
*Prices in Red denote a high bid and no sale
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