Good Morning! First off, welcome to all of the new subscribers we've seen hop aboard over the last week. We hope you're enjoying our daily look at the Porsche market. And to our long-time readers, we're so happy you're enjoying the newsletter. Now on to some Porsche prices, because we've got a lot to unpack in today's letter.
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THE MARKET
Sell-Through Rate: 75%
Market Volume ($): $951,218
Market Volume (units): 16
- After a few slow days, things have finally picked back online with quite the sell-through rate and volume. And we were just one sale away from crossing the $1m mark but I'm sure we'll be back up into million-dollar territory next week.
TOP SALES
2018 Porsche 911 Turbo S Coupe $155,000 PCARMARKET
2020 Porsche 718 Cayman GT4 6sp $125,718 Bring a Trailer
2015 Porsche 911 Targa 4S $113,000 Bring a Trailer
2005 Porsche 911 Turbo S Cab. 6sp $93,000 Bring a Trailer
2017 Porsche 911 C2S Endurance Racing Edition $91,500 Bring a Trailer
SPOTLIGHT
PHOTO CREDIT BRING A TRAILER
It seems a few stickers and some choice options couldn't boost the sale of this 2017 Porsche 911 S Endurance Racing Edition over $100,000 where 991.2 S' have sat for the last year. It also represents a new low for 991.2 Endurance Racing Editions with a final winning bid of $91,500. Is the market in a free-fall or was the price paid fair?
The Endurance Racing Edition (ERE) market has been in a downward trend ever since the first auction sale in 2019 at $235,000 for a 40-mile car At RM Sotheby's Monterey sale with the most recent low being an 11,000-mile car at $98,000 in July of 2021. Our Spotlight car was a very clean example with 44,000 miles, so mileage definitely played a part in price as this was the highest mileage Endurance Racing example to cross the block.
When looking at the 991.2 Carrera S market in general, the majority of cars sold had less than 20,000 miles and all sales have been at or around the $100k mark save for a 52,000-mile example that sold at the height of the Pandemic for $60,500.
When you take the ERE low of $98k being an 11,000-mile car and the standard Carrera S low of $60k for a 52,000-mile car into consideration, $91k seems fairly strong for a car with 44k on the clock. As 991s continue to depreciate I believe we will look back on this example as well-sold by the selling dealer. At least the buyer has something interesting to talk about at Cars & Coffee that's not a GT car.
NOTEWORTHY SALES
- This 48,000-mile 2005 Porsche 911 Turbo S Cab. 6-Speed sold on Bring a Trailer in 2021 for $93,000 and sold yesterday for.... $93,000. The seller basically got a free car to drive for a little over a year. Well done.
- At $19,000, this 2005 987 Boxster 5sp looks well-bought compared to other recent transactions. That's earlier-generation Boxster money right there.
- Delivery mileage non-GT 992s continue to fail to sell as this 2022 GTS no-sales at a high bid of $159,001, almost exactly its MSRP. If you're a seller dreaming of making a quick buck on a flip, that ship has sailed.
NEW LISTINGS
- The last two 911s Reimagined by Singer to sell both topped $1m. Will these continue their meteoric rise or soften like the rest of the million-dollar Porsche Market? With a current bid of $800,000 and 12 days to go, this 1990 Singer 911 is probably going to the moon.
- We won't have to wait long to see what a 996 Turbo S Cabriolet with a 6sp and super-low miles will bring as this 7k-mile 2005 example ends in 6 days.
- 991.2 GT3s have been hovering around the $200,000 line for quite some time. A few thousand above, a few thousand below. But recently, more have been below. We'll see where this 10,000-mile 2018 GT3 6-Speed finished in Guards Red falls, but I'm thinking this market is softening.
AUCTIONS ENDED 1/20
2022 Porsche 911 GTS Coupe 7sp $159,001 Bring a Trailer
2018 Porsche 911 Turbo S Coupe $155,000 PCARMARKET
2020 Porsche 718 Cayman GT4 6sp $125,718 Bring a Trailer
2015 Porsche 911 Targa 4S $113,000 Bring a Trailer
1980 Porsche 911 Turbo $100,000 Bring a Trailer
2005 Porsche 911 Turbo S Cab. 6sp $93,000 Bring a Trailer
2017 Porsche 911 C2S Endurance Racing Edition $91,500 Bring a Trailer
2001 Porsche 911 Turbo Coupe 6sp $81,000 Bring a Trailer
1989 Porsche 911 Coupe G50 $78,500 Bring a Trailer
2013 Porsche 911 C2S Cab. $68,500 PCARMARKET
1970 Porsche 911T Coupe 5sp $43,000 Bring a Trailer
2007 Porsche 911 Coupe 6sp $43,000 Bring a Trailer
2006 Porsche 911 C4S cab. 6sp $40,000 Hagerty
2007 Porsche Cayman 5sp $19,250 Cars & Bids
2005 Porsche Boxster 5sp $19,000 PCARMARKET
1992 Porsche 968 Cab. $16,500 Bring a Trailer
*Prices in Red denote a high bid and no sale
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