Good Morning! While markets continue to soften for some models we were fairly surprised to see a number of examples fail to sell yesterday or fail to cross marks set by similar cars in recent months. Especially when it comes to wide-body 993s and Turbo X50s.
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THE MARKET
Sell-Through Rate: 75%
Market Volume ($): $1,069,365
Market Volume (units): 16
- Another $1m dollar day from only online auctions with a decent sell-through rate. The winter market is looking fairly steady thanks to sellers with reasonable reserves.
TOP SALES
2022 Porsche 911 GT3 $250,000 Bring a Trailer
2019 Porsche 911 GT3 RS Weissach $230,000 Bring a Trailer
2018 Porsche 911 GT3 $149,474 Cars & Bids
2003 Porsche 911 Turbo X50 6sp $95,000 PCARMARKET
2015 Porsche 911 C4S Coupe 7sp $80,500 PCARMARKET
SPOTLIGHT
PHOTO CREDIT BRING A TRAILER
Over the last 90 days 993 Carrera 4S' have had quite a successful run with 12 out of 13 cars selling for a sell-through rate of 92%, besting the overall Porsche market by a little over 20%. But this run looks like it might be coming to an end as the 49,000-mile 1996 911 Carrera 4S 6-speed pictured above is now the second C4S to no-sale in the past week at a high bid of $134,993.
Falling on the lower end of the mileage spectrum, our Spotlight car is a pristine example sporting a rare factory Aerokit and Hi-Fi sound system. Finished in Black paint over Black partial leather, the car remains mostly stock except for a Fister exhaust and Porsche Classic head unit. What potentially hurt the sale however is a bit of paintwork on the front end, a paint repair on the rear quarter panel and passenger side door, and replaced headlights and marker lights although there is no mention of an accident and a clean CarFax history report.
Had this car been without paintwork we'd expect to see this C4S sold in the neighborhood of $175-180,000 as an example with similar mileage hammered down for $177,777 in June of last year. Given the fact that this example did have work done the final bid of just shy of $135k wasn't unreasonable, especially knowing that other cars with around 50k miles have sold recently for $125,000 and $118,000.
This car should have traded hands and I'd suspect that the bidder wasn't far off the reserve price as long as the seller didn't have completely unreasonable expectations. Possibly there is a transaction to be had offline. If not, I'd suggest the seller wait for the market to pick back up if, in fact, we are seeing a slowdown in the 993 C4S market.
NOTEWORTHY SALES
- And the winner for off-road modified Cayenne with the biggest lift we've seen goes to this 2004 Cayenne S with 129,000 miles that sold for $15,500 yesterday on Bring a Trailer. In the past, we've seen modifications add value to Cayennes but not so with this example making a new low for examples with similar mileage.
- Even 2022 GT3s with mileage on them are getting lower as this 2022 GT3 with 2,700 miles becomes the highest mileage GT3 to sell at $250,000. It's time to drive them and enjoy them, people.
- After a recent sale of a low mileage 996 Turbo for $120,000, we were surprised to see this 21,000-mile 2003 Turbo X50 with 6-speed transmission fail to cross the $100k mark and sell for $95,000.
NEW LISTINGS
- If we were to modify a 996 Turbo it would look like this 2002 Turbo Coupe X50 6-speed with Techart front bumper and GT2 rear wing. But it's not all looks as the car also features an ECU tune, a Fabspeed exhaust system, a lightweight clutch assembly, a dual-mass flywheel, a short-shift kit, adjustable suspension, GT3 hardback seats, a roll bar, an aftermarket sound system, and 27,000 miles.
- Speaking of X50s, 993s with the X50 package are far rarer than similarly equipped 996s. This 1996 Turbo X50 is a Rest of the World example with roughly 42,000 miles and finished in Polar Silver over Midnight Blue leather.
- This 1969 LWB 911 has been converted into a 1973 RSR-inspired race car featuring a custom 3.0-liter engine, LSD, JRZ remote coilovers, and upgraded 930/964 brakes along with full racing safety equipment. We wouldn't mind a few track days with this looker.
AUCTIONS ENDED 2/6
2022 Porsche 911 GT3 $250,000 Bring a Trailer
2019 Porsche 911 GT3 RS Weissach $230,000 Bring a Trailer
2018 Porsche 911 GT3 $149,474 Cars & Bids
1996 Porsche 911 C4S 6sp $134,993 Bring a Trailer
2020 Porsche 911 C2S $107,000 PCARMARKET
2003 Porsche 911 Turbo X50 6sp $95,000 PCARMARKET
2015 Porsche 911 C4S Coupe 7sp $80,500 PCARMARKET
2012 Porsche 911 C4S Cab. 6sp $73,500 Bring a Trailer
2009 Porsche 911 Turbo Cab. $71,500 Bring a Trailer
1979 Porsche 911SC Coupe $59,000 Bring a Trailer
2006 Porsche 911 C2S Cab. 6sp $42,500 Bring a Trailer
1970 Porsche 911T Project $39,441 Bring a Trailer
1994 Porsche 928 GTS $26,262 Bonhams
1975 Porsche 914 1.8 $17,450 PCARMARKET
2007 Porsche Boxster 5sp $17,000 Bring a Trailer
2004 Porsche Cayenne S $15,500 Bring a Trailer
*Prices in Red denote a high bid and no sale
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