May 2024 had a sell-through rate of 71% out of 608 Porsches offered at auction for a total dollar volume of $32,092,618 compared to 70%, 585, and $31,309,017 the previous year. And while May’s metrics all beat May of 2023’s, this month was all about “what could have been,” especially at the top end of the market.


For cars that could have potentially crested the million-dollar mark, only one of the nine $1m cars sold, and it sold at a final bid of $925,000, which was not quite on the money. That car was a 1992 911 Carrera 2 Coupe Reimagined by Singer. Known as the “San Diego” commission, the car was finished in Blue with Pale Blue stripes and Red Porsche script on the side and featured a beautiful Red leather interior. Out back, this Singer had a 3.8-liter Cosworth developed engine, which was the culprit, as recently it takes a 4.0-liter engine to get Singers up past the million-dollar mark.


Other million-dollar-potential sales included not one, but four Carrera GTs, all of which failed to sell. Coming off a very successful Carrera GT sale last month at over $1.7m all-in, one would think that success would carry through the market. Bids ranged from $1.1m to $1.35m on one Black, two GT Silver, and one Seal Grey example. The $1.1m car was finished in Seal Grey Metallic and showed just over 13,000 miles on the odometer. But internet sleuths recognized the car as having once belonged to a YouTuber who isn’t known for being “easy” on their cars. History aside, $1.1m was probably all the money given the miles.


Another notable no-sale was a 1959 718 RSK, chassis 718028. This rare Spyder was one of a handful of RSKs produced in a center seat configuration, and it failed to sell at a final bid of $3,400,000. If you think you’ve read that sentence before, it’s because you most likely have as this is now the fifth time the car has gone unsold at auction since 2019, with bids consistently in that range. I hate to use the phrase “the market has spoken,” but in this case, I think it has.


Early Porsches, those sold in the ‘50s and ‘60s, fared a little better than the uber-expensive cars with a sell-through rate of 59%. The most notable cars being a 1967 911S Soft-Window Targa that hammered at $265,000 and a 1957 356A Speedster at $305,000. The Soft-Window Targa was a very nice example finished in Polo Red over Black leatherette with patterned seat inserts. It sold at a final bid of $265,000, which was good enough to be the second highest price paid for the model in the last twelve months. The 356A Speedster, on the other hand, sold at a below-average price of $305,000. Although the Green over Tan color combination looked great, the fact that it wasn’t finished in its original combo and a non-numbers matching engine meant this one was sold about right.


Other notable sales this month included a 2012 Cayman R 6-speed that sold for a strong $76,500, a GT3 RS 4.0 at $762,777, and a number of 996 Turbo Cabriolets, all with the X50 package, and all selling in the low $60s. The Turbo Cabs. were quite interesting as they represented a bit of a rise in 996 Turbo pricing, even when you factor in the rare X50 package.


Overall, May was a pretty solid month, unless you were trying to sell a Carrera GT. June kicks off with a number of million-dollar-plus Porsches at RM Sotheby’s Dare to Dream sale. Let’s hope they fare better. Until then!


  • 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: stuttgartmarketletter.com

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