Good Morning! In its second year down in Naples, Florida, Saratoga Auto Auction struggled to sell anything over $20,000 leaving quite a few Porsches looking for new homes.
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THE MARKET
Sell-Through Rate: 64%
Market Volume ($): $1,228,562
Market Volume (units): 22
- Saratoga's 33% sell-through rate didn't help things over the weekend but we still managed to pass the $1m thanks to quite a few $100k sales over on Bring a Trailer. Had everything else sold we would've seen over $2m though.
TOP SALES
2022 Porsche 911 GT3 Touring 6sp $263,000 Bring a Trailer
2018 Porsche 911 GT3 $154,000 Bring a Trailer
2019 Porsche 911 Targa 4 GTS $126,000 Bring a Trailer
2016 Porsche 911 Targa 4S $123,000 Bring a Trailer
1996 Porsche 911 C4S $113,500 Bring a Trailer
SPOTLIGHT
PHOTO CREDIT BRING A TRAILER
Built as an end-of-the-model limited edition, the Porsche 911 Black Edition was a plaque'd-up send-off to the 997 generation 911. The car was offered as a coupe or cabriolet and featured Black paint with Basalt Black as an option and a Black full leather interior. A dash plaque was affixed to the glovebox, and the stainless-steel door sills read "Black Edition" to commemorate the edition. A total of 1,911 units were produced, roughly 800 or so coming to the US.
The 2012 911 Cabriolet Black Edition 6-speed pictured above has 7,000 miles on the odometer and is number 1,683 out of the 1,911. The front of the car is a bit "peppered" with chips for such low mileage but that's black for you. I bet the original owner wishes they had applied PPF early on. Other than that the car presents well and sold for $75,000 which is a new record for a Black Edition and almost a new record for a 997.2 Cabriolet 6-speed. So was it the miles or the special edition?
Only four Black Editions have sold in the last five years with the lowest mileage car prior to our Spotlight car having 34,000 miles. So no comps there. The lowest mileage 997.2 Cabriolet 6-speed to sell in the last year had 19,880 miles and sold for $64,000. So another $11,000 for half the mileage? Sounds reasonable.
While there are quite a few Black Editions out there, there aren't many final year 997s with under 10,000 miles. The mileage definitely made the sale here, the Edition is just a perk if you happen to like black cars. We're going to call this one well-sold as the second owner definitely bought the car much lower than the sales price when they picked it up back in 2014. Unfortunately for the buyer, they're going to have to keep the miles off it if they want to preserve the value as that is what makes this car special.
NOTEWORTHY SALES
- We have a new low for a 2022 GT3 Touring 6-speed with the seller rolling the dice and offering this example at no reserve for a final bid of $263,000. They still made a bit of money on the sale but not for long as this market continues to soften.
- This 1966 911 was quite the deal for a well-kept older restoration. Paint and upholstery still look good and plenty of service records from Porsche Classic in Atlanta made this car very attractive. Well bought at $110,000.
- $65,500 was right on the money for this 5,700-mile 2019 718 Boxster GTS 6-speed. I guess the seller thought there was more here and decided to keep this Guards Red example a bit longer.
NEW LISTINGS
- This 25k-mile 1987 911 Turbo Coupe M505 Sland Nose is feeling the blues with its Midnight Blue Metallic paint over Marine Blue leather and body-colored 16" Fuchs alloy wheels. This one is a looker for sure and the mileage should bring top dollar.
- The owner of this 2022 Taycan Turbo Cross Turismo managed to do 11,000 fully electric miles in less than a year. We haven't seen a Cross Turismo cross the block yet but if coupes and mileage have anything to say, this should be a deal.
- Speaking of cars that depreciate like rocks, this 2009 Cayenne Turbo S with only 22,000 is going to a TON of truck for the money if you can get over the Beige on Beige color scheme.
AUCTIONS ENDED 2/4-2/5
2022 Porsche 911 GT3 Touring 6sp $263,000 Bring a Trailer
2022 Porsche 718 Cayman GT4 $165,900 Saratoga
1987 Porsche 911 Turbo Slant Nose Conversion $165,000 Saratoga
2018 Porsche 911 GT3 $154,000 Bring a Trailer
2022 Porsche 718 Spyder $142,000 Saratoga
2016 Porsche 911 Turo S Cab. $132,000 Saratoga
2019 Porsche 911 Targa 4 GTS $126,000 Bring a Trailer
2015 Porsche 911 GT3 $123,000 Bring a Trailer
2016 Porsche 911 Targa 4S $123,000 Bring a Trailer
2014 Porsche 911 Turbo S Coupe $120,000 Bring a Trailer
1996 Porsche 911 C4S $113,500 Bring a Trailer
1966 Porsche 911 Coupe $110,000 Bring a Trailer
1983 Porsche 911SC Coupe $101,983 Bring a Trailer
1988 Porsche 911 Coupe 5sp $93,000 Bring a Trailer
2012 Porsche 911 Black Edition Cab. 6sp $75,000 Bring a Trailer
2019 Porsche 911 718 Boxster GTS 6sp $65,500 Bring a Trailer
2001 Porsche 911 Turbo Coupe 6sp $64,911 Bring a Trailer
2008 Porsche Cayenne Turbo $29,500 Bring a Trailer
2002 Porsche 911 Cab. 6sp $27,001 Bring a Trailer
2000 Porsche 911 C4 Cab. 6sp $20,500 Bring a Trailer
1998 Porsche Boxster $19,250 Saratoga
1998 Porsche Boxster $9,900 Saratoga
*Prices in Red denote a high bid and no sale
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