Porsche Market Recap for November 2024
So far, the theme for 2024 has been Dollar Volume and Unit Volume up, Sell-Through Rate down, as more cars have hit the market this year, but just haven’t been selling. Well, November took quite the U-turn with our first year-over-year Sell-Through Rate (STR) increase in quite some time, despite Dollar and Unit Volumes declining, with 69% of the 537 cars on offer selling for a total of $36,536,798. But what’s really interesting, is the fact that the STR increased not because sellers set more realistic reserves, but because bids appear to be rebounding.
Take for instance the 356 market, one that has been struggling over the past few months. In 2024, only one 356B T5 Cabriolet had sold above the $140,000 mark whereas last year, we had four. But this month, a beautiful Bali Blue example brought an impressive $177,800, marking a significant above-average sale. We also saw a standard, run-of-the-mill 1965 356C hammer at a final bid of $118,000, $25,000 over the twelve-month average.
Porsche’s 356-powered 912 also saw gains over previous months with three SWB Coupes all selling for a good clip over the $48,000 average. Leading the pack was a one-owner 1965 912 finished in Signal Red over Black that had been driven approximately 325,000 miles and included service records dating back to the 1960s. This gem sold at a final bid of $82,000. But that price was eclipsed, and rightfully so, by a 1968 Soft-Window Targa at $95,500. Finished in Irish Green over Black, this 912 Targa had remained with its original owner up until 2023, when it was acquired by the seller.
911SCs also looked up this month after a year of slowing with two strong examples bringing exceptional bids. A 117,000-mile 1978 Coupe finished in Mocha Black with a Cork leather and Tartan cloth interior hammered at the second highest price we’ve seen all year at $105,000. This was despite some noted paintwork and an updated rear decklid with whaletail spoiler. Also jumping averages was a Black on Gray 92,000-mile Weissach Edition that brought $70,000 even though it had its issues as well.
But although many markets started to show signs of a bit of a rebound, some newer cars continued their slide, with GT4 RS’ leading the way as only one of the three cars on offer found a home at a sub-$200,000 bid of $191,000, which is the second lowest price we’ve seen for an example here in the US thus far. On the new 911 side of the market, 992 GT3 RS’ also fared poorly with both cars on offer failing to sell at bids of $310,000 and $392,000. It looks like the days of a GT3 RS selling for over $400,000 are behind us unless it’s a 1-of-150 Carrera RS Tribute Package car.
At the tippy-top of the market, we had a mixed bag of sorts. On one hand, we had a 170-mile 918 Spyder with Weissach Package sell at $2,690,000 all-in, which is a little light compared to a 457-mile example that sold for $2,865,000 back in April, and this month’s car was in a much better spec, in my opinion. And then there was the 267-mile 2005 Carrera GT that sold for $2,025,000 all-in, a price we haven’t seen since March of 2022.
It will be interesting to see how the year ends here in December. So far, all signs point to a continuation of November, but then again, I’m writing this only three days into the month. If it does, what does that mean for the spring market? Things could be heating back up.
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, visit: stuttgartmarketletter.com