Good Morning! Yesterday's market is giving us a bit of a Deja Vu feeling mixed with a WTF as you'll see in today's Spotlight. You'll also find some Notable No-Sales as opposed to yesterday's Notable Sales. What do you think about this new section? Hit reply and let us know.
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THE MARKET
Sell-Through Rate: 74%
Market Volume ($): $2,226,337
Market Volume (units): 19
- Very similar market activity to yesterday as the sell-through rate remained in the low 70s and one car accounted for half of the total dollar volume.
TOP SALES
1972 Porsche 911 S Targa $1,149,000 RM Sotheby's
1997 Porsche 911 Turbo $185,000 Bring a Trailer
2018 Porsche 911 GT3 $171,000 Bring a Trailer
2022 718 Cayman GT4 $131,000 Bring a Trailer
2015 Porsche Turbo S Cab. $116,287 Bring a Trailer
SPOTLIGHT
PHOTO CREDIT RM SOTHEBY'S
It's been a while since an auction had me say "WTF". That phrase was often used during the runup of 2021 and early 2022. But it's been absent for quite some time until the sale of this 1972 Porsche 911 S Targa restored by Porsche Classic sold yesterday for $1,149,000.
For that kind of money, you would think this car might have actually belonged to Ferry Porsche. Or perhaps it was sold for charity and the buyer was feeling rather charitable before the holidays. But no, there was no real historical connection or charity involved.
Instead, a run-of-the-mill 1972 911 T (not even a real S) Targa basketcase was restored by Porsche Classic to what the good professor might have driven. Yes, the restoration is top-notch coming from the factory and it's a beautiful color combo similar to the 50th Anniversary Targa that debuted earlier this year. But even RM Sotheby's didn't expect this much with the estimate somewhere around $350,000. Maybe they forgot to add a 1 to the front?
As I'm still trying to wrap my head around this sale I'm sure it goes without saying that this was well sold. VERY well sold. WTF.
NOTEWORTHY NO-SALES
- Someone was willing to pay Turbo money for this 8,000-mile 2003 Carrera 4S but the seller obviously wanted more. Despite the good looks of the C4S, the bid here was about right as a low-mileage Turbo isn't that far off money-wise.
- Although there is still a wait for a new 718 GTS, the market wasn't willing to pay up for this 2021 718 Cayman GTS as it failed to sell at $84,000. Seems only the GT cars are still commanding a premium.
- Surprised this very nicely restored 1960 Porsche-Diesel Junior Tractor did not find a home. It's the perfect gift for those hard-to-shop-for Porschephiles on your list.
NEW LISTINGS
- A 10,000-mile 2014 911 50th Anniversary Edition in the right color with the right interior should bring the money.
- If you're looking for a low-mileage death trap, this 2008 911 GT2 finished in Black over Black should do the trick.
- Gotta love seeing Porsches driven like they are meant to be like this 138,000-mile 2005 911 Cabriolet.
AUCTIONS ENDED 12/14
1972 Porsche 911 S Targa $1,149,000 RM Sotheby's
1997 Porsche 911 Turbo $185,000 Bring a Trailer
2018 Porsche 911 GT3 $171,000 Bring a Trailer
2022 Porsche 718 Cayman GT4 $131,000 Bring a Trailer
2015 Porsche Turbo S Cab. $116,287 Bring a Trailer
2019 Porsche 911 C4S $103,000 Bring a Trailer
2007 Porche 911 Turbo Coupe 6sp $98,000 Bring a Trailer
2021 Porsche 718 Cayman GTS 6sp $84,000 Bring a Trailer
2019 Porsche Cayenne Turbo $78,250 PCARMARKET
2013 Porsche 911 C4S Coupe $75,000 PCARMARKET
2007 Porsche 911 C2S Coupe 6sp $64,000 PCARMARKET
1995 Porsche 911 Coupe 6sp $61,500 Bring a Trailer
2003 Porsche 911 C4S Coupe 6sp $55,500 Bring a Trailer
2009 Porsche 911 Targa 4S $50,050 PCARMARKET
2011 Porsche Cayman S 6sp $44,500 Bring a Trailer
2004 Porsche 911 C4S Cab. $27,250 Cars & Bids
1960 Porsche-Diesel Junior Tractor $26,600 Bring a Trailer
2004 Porsche Cayenne Turbo $20,000 Bring a Trailer
2001 Porsche Boxster 5sp $17,000 Bring a Trailer
*Prices in Red denote a high bid and no sale
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