Good Morning! I guess it couldn't last forever. After a few days of fun the market looks like it is cooling. Hope you are enjoying your weekend and getting behind the wheel.
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THE MARKET
Sell-Through Rate: 57%
Market Volume ($): $987,348
Market Volume (units): 14
- Well, that 2-day hot streak was fun while it lasted. Sell-through rate is back in the 50s and unit volume was down below $1m again yesterday. Let's see what the weekend brings.
- Another 2022 GT3 Touring sold for less than $300k and and a GT2 RS failed to meet reserve at $363,666. A continued sign that the high-end GT market might be softening.
TOP SALES
1992 Porsche 911 C4 Restomod $385,000 PCARMARKET
2022 Porsche 911 GT3 Touring $286,000 Bring a Trailer
2016 Porsche Cayman GT4 $83,000 Bring a Trailer
2012 Porsche 911 GTS Cab. $73,997 Bring a Trailer
2008 Porsche 911 Turbo Cab. 6sp $73,100 Bring a Trailer
SPOTLIGHT
PHOTO CREDIT CARS & BIDS
It used to be that the 993/996/997 Targas were the bargain of the 911 bunch. An odd larger-sunroof type roof mechanism sat on top of a Cabriolet body. Targas were rarely ordered and were rare, but some would say for a reason.
Fast forward to today, and Targa's now command a premium compared to their hardtop relatives. Take for example this 2007 911 Carrera 4S Targa, which sold on Cars & Bids, finished in a beautifully rare shade of Nordic Gold Metallic and optioned nicely with Sport Chrono Plus, a 6-speed manual transmission, and factory 19" Turbo wheels.
Had this car been a standard 4S Coupe, I would have expected it to sell for ~$45,000. But these days the Targa Premium seems to be an extra $10,000 as our Spotlight car brought $55,500. Now you might be thinking maybe the color had something to do with it. But looking at past sales over the last year, US Targas have been trending a tad higher.
Depending on when this particular car was purchased, perhaps back when Targa's were not favored, the seller might have done fairly well. Considering there is still room for depreciation here, we'll be calling this one well-sold. But the buyer got one heck of a color for their new Targa.
NEW & NOTEWORTHY
- This really well-done and modified 1992 968 Coupe 6-Speed Track Car looks like a great time around Watkins Glen or your local loop.
- GT4s with miles are starting look relatively reasonable after yesterday's sale below. Let's see what his 2016 GT4 sells for next week and if the trend continues.
- Albert Blue. Hands-down one of the best colors an a vintage 911 looks stunning on this 1970 911E Karmann Coupe.
AUCTIONS ENDED 12/2
1992 Porsche 911 C4 Restomod $385,000 PCARMARKET
2018 Porsche 911 GT2 RS Weissach $363,666 Bring a Trailer
2022 Porsche 911 GT3 Touring $286,000 Bring a Trailer
2022 Porsche Cayenne GTS Coupe $119,000 PCARMARKET
2022 Porsche 911 C4S Coupe $115,500 PCARMARKET
2016 Porsche Cayman GT4 $83,000 Bring a Trailer
2012 Porsche 911 GTS Cab. $73,997 Bring a Trailer
2008 Porsche 911 Turbo Cab. 6sp $73,100 Bring a Trailer
1965 Porsche 356C 1600 Coupe $67,356 PCARMARKET
2014 Porsche Cayenne Diesel $31,801 Bring a Trailer
2000 Porsche 911 Coupe 6sp $30,500 Bring a Trailer
2006 Porsche Cayenne S Titanium Edition $23,950 Bring a Trailer
2011 Porsche Cayenne Turbo $23,000 PCARMARKET
356 Speedster Replica $20,750 Bring a Trailer
*Prices in Red denote a high bid and no sale
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