Good Morning! Mecum's Kissimmee sale kicked off yesterday and killed our stats. The auction runs through the 14th so we'll see if things pick up steam as the sale continues.

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THE MARKET

Sell-Through Rate: 50%

Market Volume ($): $504,143

Market Volume (units): 18

• The lowest sell-through rate and dollar volume we've seen all year, and since we started this letter. Surprising considering we had a decent market volume.

TOP SALES

2022 Porsche 911 GTS Coupe 7sp $166,500 Bring a Trailer

2015 Porsche 911 Turbo Coupe $92,500 PCARMARKET

2001 Porsche 911 Turbo Coupe $71,996 Bring a Trailer

2009 Porsche 911 C2S Cab. 6sp $50,991 Bring a Trailer

2004 Porsche Cayenne Turbo Modified $30,500 Bring a Trailer

SPOTLIGHT

PHOTO CREDIT PCARMARKET

The 964 Carrera RS was always the forbidden fruit we never got to taste here in the US until it hit 25 years old in 2017. While quite a few have found their way here since then, the majority of RS' sold in the last year have been European examples. Only 3 have sold in the US.

Two of those cars commanded prices north of $400,000. One, a 9,700-mile Rubystone Red example commanded $469,999, and the other, a 31,000-mile Maritime Blue Touring example sold for $430,000. So one would think, as the seller did, that the 1992 911 Carrera RS Touring pictured above with 34,000 miles would have reached over $400k, but that wasn't the case.

Our Spotlight car was bid to $348,000 falling fairly short of other similar sales, but it had a number of things going against it that I believe commanded this number. Firstly, the Touring version of the 964, although much rarer with only 78 of the 2,282 Carrera RS being Touring versions, was named so because it was equipped with additional luxury features including soundproofing, undersealing, standard door panels, and Turbo-derived Sport Seats, all adding weight and taking away from the raw appeal of a lightweight special.

Yes, another Touring sold for over $400,000, but it was an iconic Maritime Blue example. And that leads me to the second item this RS had going against it, color. Both cars that sold for over $400k were special colors. Colors that today's Porsche buyers choose when speccing a PTS car.

And the third item? Paintwork. Although the work was performed to repair alleged "parking lot" damage, paintwork is paintwork and will affect the value of any car, let alone a car of this caliber.

$348,000 was a fair bid for this Carrera RS, maybe a little more. The seller obviously wants more and has it listed on PCARMARKET's Deal Tank for $425,000. The market was on point today.

NOTEWORTHY SALES

• I honestly thought there was more to go with this 2001 911 Turbo in Guards Red over Natural Brown selling for $71,996. Especially with low mileage 996 C4S' selling in the $50s. Must have been the Tiptronic.
• With a sticker price of $163,000, I'm sure the seller of this 2022 911 GTS Coupe 7sp was looking for more than $166,500. The only one to make out here is Uncle Sam with taxes.
• This 1999 911 Carrera S looks like a deal at $21,450 until you see the oversized rims and lowered suspension. At least it wasn't "stanced".

NEW LISTINGS

• Purchased in March of 2022 for $90k, this 2004 911 GT3 is back on BaT with 70,000, 2,000 of which were added by the seller. At least they got some enjoyment.
• If you missed the low mileage 996 Turbo above, here's another chance with this Guards Red 2003 911 Turbo Coupe.
• Will the delivery mileage GT market continue its slide? We'll see when this 2022 911 GT3 Touring 6sp ends next week.

AUCTIONS ENDED 1/4

1992 Porsche 911 RS Touring $348,000 PCARMARKET

2022 Porsche 911 GTS Coupe 7sp $166,500 Bring a Trailer

1991 Porsche 911 Turbo $120,000 Bring a Trailer

2015 Porsche 911 Turbo Coupe $92,500 PCARMARKET

2001 Porsche 911 Turbo Coupe $71,996 Bring a Trailer

1996 Porsche 911 Cab. 6sp $55,993 Bring a Trailer

2009 Porsche 911 C2S Cab. 6sp $50,991 Bring a Trailer

1987 Porsche 911 Cab. 5sp $42,000 PCARMARKET

2004 Porsche Cayenne Turbo Modified $30,500 Bring a Trailer

2000 Porsche 911 Coupe 6sp $30,000 Bring a Trailer

1988 Porsche 944 Turbo $28,250 Bring a Trailer

2008 Porsche Cayenne GTS $25,000 Bring a Trailer

1999 Porsche 911 Coupe 6sp $21,450 Mecum

1989 Porsche 944 5sp $15,200 Bring a Trailer

1985 Porsche 911 Turbo No Sale Mecum

2002 Porsche Boxster 5sp No Sale Mecum

2008 Porsche Cayenne No Sale Mecum

2001 Porsche Boxster No Sale Mecum

*Prices in Red denote a high bid and no sale