Good Morning! While Arizona ended yesterday the winter auction season continues with Paris' Retromobile auctions starting Wednesday. Look for cars eligible for import in the mix later this week from RM, Bonhams, and Articurial.

Did someone forward you this email? Subscribe HERE for daily Porsche market updates.

THE MARKET

Sell-Through Rate: 82%

Market Volume ($): $7,714,596

Market Volume (units): 45

• The final weekend of Arizona was carried by Barrett-Jackson as RM and Bonhams packed up shop and headed to Paris. Our sell-through rate for the weekend sans BJ was 69%, but remember, Bring a Trailer is the only online platform closing sales on Saturday and Sunday now.

TOP SALES

2005 Porsche Carrera GT $1,595,000 Barrett-Jackson

1997 Porsche 911 Turbo S 6sp $605,000 Barrett-Jackson

2018 Porsche 911 GT2 RS Weissach $577,500 Barrett-Jackson

2018 Porsche 911 GT2 RS Weissach $445,500 Barrett-Jackson

2016 Porsche 911 R $445,500 Barrett-Jackson

SPOTLIGHT

PHOTO CREDIT BONHAMS

What a difference a year makes. This time last year we saw four Carrera GTs cross the auction block in Arizona and online with an average price of $1.9 million. 2023? Five Carrera GTs crossed the block this month with one not selling and the other four selling for an average price of $1.2 million. Our lowest sale in January of 2022? $1,545,000. Right about where our top sale this month hammered down at $1,595,000. Sky falling much?

Well, yes and no. If you look at the numbers above and go by average sales price, then it seems like the market took a dump. But let's look at another average comparison between this month and last January: average mileage. In January of 2022, the average mileage on the Carrara GTs sold was 2,000 vs. a 9,000-mile average this year. The highest-mileage car of last year was right on par with the lowest-mileage car this year. But mileage wasn't the only issue affecting sales price, the overall quality of cars on offer wasn't there either.

The Basalt Black 2005 Carrera GT above was this month's low sale bringing $1,033,500 AFTER Bonhams tacked on their fees, which means this car hammered down for only $935,000. The car has spent time on three continents most recently coming out of a collection in Europe where it spent the last decade on display in a museum. The car also comes out of the collection fully repainted in its original Basalt Black, a new Alcantara steering wheel, steel brakes, and so many questions. Why and when was the car painted? Alcantara steering wheel? And why on earth would you put steel brakes on a museum piece?

This month's high sale was also a repainted car. Sold at Barrett-Jackson for $1,595,000, this 2005 CGT had 3,300, a full luggage set, and an open checkbook respray in a specially blended PPG Red performed by Karosserie, a very well-established shop in Wayne, PA. Had this been an original Guards Red example with 3,300 miles would we have seen a bit higher here? Possibly.

The final example to sell in Arizona this past week was this 13,000-mile 2005 Carrera GT that sold for $1,252,500 at RM Sotheby's. Finished in a rare shade of Seal Grey over Terracotta, the car came with a full luggage set and not much more information than that. The price paid was pretty much on par with every other CGT of the same mileage sold this past year.

So while Arizona failed to be a pick-me-up for what we should expect in the Carrera GT market for the remainder of the year, it wasn't as bad as the numbers suggest. Yes, the market is softer than it was last year, but that softness has a lot to do with the quality of cars on offer. Expect more of the same as the months roll on.

NOTEWORTHY SALES

• Although a high number, the $249,996 paid for this 3,900-mile 996 GT2 would have bought a car with 10-20,000 miles on the odometer, not 3,900, just a few months ago. Looks like these GT cars are seeing some softening as well.
• 912 continue to surprise with this 1968 912 Soft-Window Targa selling for $78,000. Soft window yes, soft market no.
• And what would a market letter be without a delivery mileage GT3 crossing the block. Unlike the Touring that failed to sell this weekend, this seller was reasonable and was still rewarded with a little profit on their Signal Yellow 2022 GT3 which sold for $261,000.

NEW LISTINGS

• This 36,000-mile Polar Silver 1992 Carrera RS is already at $164,964 with 11 days to go. Expect big numbers from this Japanese market example.
• Built in November of 1965, this early 1966 911 is finished in a lovely shade of Light Ivory over Black and looks to be a nice example of an older restoration ready to drive.
• If you're going to take advantage of the strong US dollar while in Paris this weekend, may we suggest this 1995 968 Club Sport? If you're an avid reader you'll know there's money to be made here upon importation to the US.

AUCTIONS ENDED 1/28-1/29

2005 Porsche Carrera GT $1,595,000 Barrett-Jackson

1997 Porsche 911 Turbo S 6sp $605,000 Barrett-Jackson

2018 Porsche 911 GT2 RS Weissach $577,500 Barrett-Jackson

2018 Porsche 911 GT2 RS Weissach $445,500 Barrett-Jackson

2016 Porsche 911 R $445,500 Barrett-Jackson

1996 Porsche 911 Turbo $304,700 Barrett-Jackson

1994 Porsche 911 Turbo 3.6 Coupe $286,000 Barrett-Jackson

2022 Porsche 911 GT3 Touring 6sp $276,000 Bring a Trailer

1996 Porsche 911 Turbo $269,500 Barrett-Jackson

2016 Porsche 911 GT3 RS $264,000 Barrett-Jackson

2022 Porsche 911 GT3 $261,000 Bring a Trailer

1994 Porsche 911 Speedster $251,000 Bring a Trailer

2003 Porsche 911 GT2 $249,996 Bring a Trailer

1995 Porsche 911 Supercup Race Car $222,000 Bring a Trailer

2016 Porsche 911 GT3 RS $220,000 Barrett-Jackson

1997 Porsche 911 Turbo $214,500 Barrett-Jackson

1979 Porsche 911 Turbo $167,200 Barrett-Jackson

1997 Porsche 911 C4S $165,000 Barrett-Jackson

1988 Porsche 911 Coupe G50 $160,000 Bring a Trailer

1965 Porsche 911 5sp $145,200 Barrett-Jackson

2015 Porsche 911 Turbo Cab. $140,600 Barrett-Jackson

1997 Porsche 911 C4S 6sp $127,750 Bring a Trailer

2014 Porsche 911 50th Anniversary Edition $114,000 Bring a Trailer

2021 Porsche Cayenne GTS $108,000 Bring a Trailer

1987 Porsche 911 Targa G50 $105,000 Bring a Trailer

2021 Porsche 718 Boxster GTS 6sp $98,999 Bring a Trailer

1987 Porsche 911 Coupe G50 $91,500 Bring a Trailer

2005 Porsche 911 C2S 6sp $88,000 Barrett-Jackson

1967 Porsche 911 Coupe $80,500 Bring a Trailer

1968 Porsche 912 Targa $78,000 Bring a Trailer

2001 Porsche 911 Turbo Coupe 6sp $58,500 Bring a Trailer

1974 Porsche 911 Targa 5sp $57,200 Barrett-Jackson

2000 Porsche 911 C4 Millenium Edition $53,900 Barrett-Jackson

1991 Porsche 928 S4 $50,600 Barrett-Jackson

1987 Porsche 911 Cab. G50 $39,500 Bring a Trailer

2006 Porsche Cayenne Turbo S $33,000 Barrett-Jackson

2004 Porsche 911 Turbo Cab. 6sp $32,250 Bring a Trailer

1999 Porsche 911 C4 Coupe 6sp $30,500 Bring a Trailer

2008 Porsche 911 Coupe $27,250 Bring a Trailer

2008 Porsche Cayenne S $24,500 Bring a Trailer

2001 Porsche 911 Cab. 6sp $23,750 Bring a Trailer

2007 Porsche Boxster 5sp $16,250 Bring a Trailer

1986 Porsche 944 5sp $11,000 Barrett-Jackson

1998 Porsche Boxster 5sp $9,200 Bring a Trailer

2001 Porsche 911 Cab. No Sale Barrett-Jackson

*Prices in Red denote a high bid and no sale