Porsche Market Recap for June 2023


If we’re taking the market’s temperature, June would appear hot as we achieved 2023 highs in our dollar volume and unit volume, thanks to $20m in sales and nine new auction records at Broad Arrow Auction’s 75th Anniversary Porsche sale held in Atlanta mid-month. But take out this once-every-five-year auction event, and the market looks as cool as it did in May, with a 70% sell-through rate and just over $30m in sales.


Highlights from the 75th Anniversary sale were plenty, but one real standout was the sale of a 1999 996 Coupe for $1.2m. This car wasn’t just any 996 for that kind of money, but the 996 Classic Club Coupe project dreamed up by the Porsche Club of America and Porsche’s Sonderwunsch department. Built to showcase what Porsche’s “Special Wishes” program is capable of, the Classic Club Coupe features a GT3 engine and drivetrain, a custom interior, and an exterior designed with nods to the 911 Carrera 2.7 RS and Carrera GT. And the buyer of this world record 996? None other than Jerry Seinfeld.


We also saw this auction buck the trend of historic Porsche race cars failing to sell this year, with a 1964 904 Carrera GTS selling for $2,535,000 and a 1984 962 in Coke-Cola livery with both 24 Hours of Daytona and 12 Hours of Sebring history selling for $1,270,000. One notable no-sale, however, was a 1967 910 that failed to sell at a final bid of $2,300,000. $200,000 short of the recent 910 sale on Bring a Trailer.


The Carrera GT market continued to soften as two examples crossed the block this month. The first, a 2005 example with 16,765 miles, sold for just over $1m at $1,028,000, about $200k shy of where comps with similar mileage were not too long ago. And the second, a 2004 example finished in Speedster Blue by Porsche Classic partner Porsche North Houston sold for $1,462,500. An impressive number, but considering rare colors were all $2m cars this time last year, reasonably light.


Also showing signs of softening for the second month in a row is the 992 GT3 market. Save for the one example that sold at the Broad Arrow sale for $300,000, all others continued to slide with an average selling price of $255,000 and a market low of $177,250. We also saw the first 2023 992 GT3 RS come up for auction, failing to sell at a high bid of $415,000. GT4 RS’ also continued its downward trend, with one example failing to sell at a high bid of $230,000 and the other finding a home at $245,000.


On the classic side of the market, 356s showed mixed results with a 64% sell-through rate compared to last month’s 88%, but those that did sell kept the momentum going price-wise as they continued to trend up. Notable 356 auctions this month include a 1964 356 SC Cabriolet that sold for $215,600 and a 1958 356A Sunroof Coupe built by Rod Emory that failed to sell at an eye-watering $699,356.


The modern classics, especially the 993 market, were the biggest mover in June, with a 993 Turbo S selling for an above-average price of $560,000 and your standard 993 coupes averaging $100,000. We also saw a new five-year record for 993 Turbos, with a 645-mile example selling for $486,000 on Bring a Trailer.

With no headlining auctions on the calendar for July, it will be interesting to see if the market stays consistent at its ~70% sell-through rate and $30m in sales before we head into the summer heat of August with Pebble Beach where all major auction houses will be bringing out the big guns. We’ll see our first 911 reimagined by Singer we’ve seen in a while, crossing the block at RM Sothebys and a 1966 906 at Bonhams.


  • David K. Whitlock is a writer for The Stuttgart Market Letter, a daily market update for Porschephiles, by Porschephiles, delivered free to your inbox. To sign up, go to: www.stuttgartmarketletter.com
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