Good Morning! A very light day yesterday with only 9 auctions ending. Should we be worried? We break down the day below.
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THE MARKET
Sell-Through Rate: 67%
Market Volume ($): $309,500
Market Volume (units): 9
- The lowest dollar volume and unit volume we've seen since starting this newsletter and not a single car sold over $100,000. But not to worry, looking at upcoming sales this looks more like a one-off than a trend.
TOP SALES
1990 Porsche 911 Coupe $94,000 Bring a Trailer
2008 Porsche 911 Turbo $71,000 PCARMARKET
2009 Porsche 911 C4S Coupe $66,500 Bring a Trailer
2006 Porsche 911 C4 Coupe 6sp $32,000 PCARMARKET
2011 Porsche Panamera Turbo $30,500 Bring a Trailer
SPOTLIGHT
PHOTO CREDIT BRING A TRAILER
Porsche 911 Ts have been hovering just above the $100,000 mark+ for the last two years commanding a premium over your run-of-the-mill standard 991 Carrera. And for good reason. The T was sold as a stripped-down "driver's" car, almost a GT on a budget, and offered some great options to make it much more attractive when comparing other trim levels.
And the car above, a 2018 10,000-mile example finished in Racing Yellow, had all the right option boxes ticked: carbon-fiber bucket seats, rear-seat delete, and rear-axle steering. But even with the right options, it failed to find a home with bidding ending at $80,000. Now, some in the comment sections argued that this car failed to sell due to it being a PDK car, but past results tell a different story.
We have had many examples sell with both 7-speed manual and PDK transmission. And at 10,000 miles, this is far from a high-mileage car looking for more money. In fact, cars with more miles have fetched a great deal more than our top bid recently. Case in point: this 2018 911 T with 15k sold for over $118,000 last month. So what gives?
As I said, past results tell a different story. In the past four years, despite a number of examples on offer, not a single Racing Yellow 911 T has sold at an online auction. PDK, 7-speed, didn't matter. It seems that the market does not have an appetite for the perfect lightweight Porsche taxi.
That being said, although I'm hopeful that the 911 T market turns and we can pick one up for $80,000 sooner than later, the market still appears to be kept above that $100,000 line here in the US for now.
NOTEWORTHY SALES
- You couldn't build this 2008 911 Turbo for the selling price of $71,000. Its Champion Motorsports F77 power package adds upgraded turbochargers, intercoolers, exhaust, and software for increased power along with a Champion Motorsports Werks 1 exterior aerokit and 20” forged alloy wheels.
- Clean 964s are still bringing the money. This 1990 911 Coupe sold for $94,000 even with a Tiptronic transmission.
- The deal of the day goes to this 2011 Panamera Turbo that sold for $30,500 against a $100,000+ sticker price. That's a TON of car for the money.
NEW LISTINGS
- We see a ton of 356 Speedster Replicas but the one for us? This Porsche 550 Spyder Replica by Thunder Ranch is finished in a darker metallic silver over a dark red interior.
- 7-speed and not Racing Yellow, we'll see if this 7,000-mile 2018 Porsche 911 T can keep these cars over $100,000 although it does have yellow graphics.
- 1 of 300 US-spec 1988 911 Carrera Commemorative Editions finished in Diamond Blue Metallic over Diamond Blue full leather interior is a stunning combination. Higher mileage makes this a very nice driver.
AUCTIONS ENDED 1/9
1990 Porsche 911 Coupe $94,000 Bring a Trailer
2018 Porsche 911 T $80,000 Bring a Trailer
2008 Porsche 911 Turbo $71,000 PCARMARKET
2009 Porsche 911 C4S Coupe $66,500 Bring a Trailer
1982 Porsche 911SC Targa $41,000 Bring a Trailer
2007 Porsche 911 Cab. 6sp $38,881 PCARMARKET
2006 Porsche 911 C4 Coupe 6sp $32,000 PCARMARKET
2011 Porsche Panamera Turbo $30,500 Bring a Trailer
2008 Porsche Cayenne Turbo $15,500 Bring a Trailer
*Prices in Red denote a high bid and no sale
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