Good Morning! It's looking a bit chilly, and I don't mean outside. A number of cars were very well-bought yesterday as it looks like the market cools even further.
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THE MARKET
Sell-Through Rate: 67%
Market Volume ($): $513,250
Market Volume (units): 15
- The market seemed to cool off yesterday with an average sell-through rate but light on the dollar volume with only one sale over $100k. Things will pick up though as Bonhams and RM Sotheby's kick off their Paris Retromobile sales this evening.
TOP SALES
1976 Porsche 911 Turbo $150,000 Bring a Trailer
1998 Porsche 911 Cab. 6sp $80,000 Bring a Trailer
2001 Porsche 911 Turbo 6sp $62,500 PCARMARKET
2013 Porsche 911 Coupe $54,500 Bring a Trailer
2009 Porsche 911 Coupe 6sp $45,000 PCARMARKET
SPOTLIGHT
PHOTO CREDIT PCARMARKET
The 996.2 GT3 was our first taste of the new normally aspirated water-cooled GT car built to homologate the 911 for GT racing as we never received the 996.1 here on our shores. Lauded for being more "hardcore" than its predecessors, the 996 GT3 has seen value hold fairly steady over the past year with US examples trading hands for $80,000 and up. So why was this 27,000-mile 2004 GT3 only bid to $61,996, and why was that actually a fair price?
You can probably tell by the rear wing that our Spotlight car is far from stock. And the eagle-eyed among us might notice that the rear bumper is that found on a Carrera 4S. In addition to the rear bumper and wing, the car is fitted with an RS-style front bumper, wider fenders, and a carbon roof.
Inside the car is ready for the track with a full roll cage, Recaro seats, racing harnesses, modified shifter, and thicker steering wheel. The Mezger engine is mildly tuned with Fabspeed intake and exhaust along with their mild tune. The power is transferred to the pavement via Bilstein RS suspension and Carrera III Wheels mounted with Bridgestone Potenza tires.
The seller made no secret of his HPDE Drivers Education and Autocross use and had his price expectations right in line with the market for a fun track toy GT3 you could drive to the track, lap all day, and then drive home without issue. At $61,996, the car did not find a home. But the final bid isn't far off from the Buy-It-Now price of $68,000 in the PCARMARKETS Deal Tank.
They say there is an ass for every seat. But you greatly limit the number of asses when you modify a car for track use. Had there been a few more asses in the bidding, I'm sure this car would have sold. Even at the Deal Tank price, this GT3 track toy would be well-bought.
NOTEWORTHY SALES
- Solid result at $150,000 for this 1976 Porsche 911 Turbo. These tend to hover just over $100k for higher mileage examples or those needing minor work to $200k for refinished examples.
- Low mileage 996 Turbos have been pretty hot lately but this 32,000-mile 2001 Turbo Coupe 6-speed was very well bought at $62,500. Have they cooled off?
- Speaking of cooled-off, this 2009 911 Carrera 6-speed was also very well bought at $45,000, a $10,000 discount compared to similar sales over the past year.
NEW LISTINGS
- We see quite a few delivery mileage GT3s around here but this 2023 911 Turbo S Coupe with 44 miles is something new. Will bidding surpass its $258,000 sticker? Or will this flip be a flop?
- 356 Speedster a bit too stripped down for you? Don't worry, Porsche made a more luxurious 356B Roadster. Sporting an older restoration this 1961 356B 1600S Roadster would make a great driver/club concourse car to enjoy.
- The market for GT3 RS 4.0s will be tested next week with this 202-mile 2011 GT3 RS 4.0 crossing the online block. We haven't seen an RS sell in 5 months despite quite a few online. Over $700k would be a success here.
AUCTIONS ENDED 1/31
1976 Porsche 911 Turbo $150,000 Bring a Trailer
2021 Porsche 911 Coupe $106,250 PCARMARKET
1997 Porsche 911 Coupe 6sp $87,993 Bring a Trailer
1998 Porsche 911 Cab. 6sp $80,000 Bring a Trailer
1963 Porsche 356B Coupe $75,000 Hemmings
2002 Porsche 911 Turbo Coupe X50 6sp $65,110 Bring a Trailer
2001 Porsche 911 Turbo 6sp $62,500 PCARMARKET
2004 Porsche 911 GT3 $61,996 PCARMARKET
2013 Porsche 911 Coupe $54,500 Bring a Trailer
2009 Porsche 911 Coupe 6sp $45,000 PCARMARKET
2014 Porsche Cayenne Turbo S $38,000 Bring a Trailer
2009 Porsche Cayenne Turbo S $27,500 Bring a Trailer
2008 Porsche Cayenne GTS $23,000 Bring a Trailer
1976 Porsche 914 2.0 $20,000 Bring a Trailer
1990 Porsche 944 S2 Cab. 5sp $12,750 Bring a Trailer
*Prices in Red denote a high bid and no sale
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