Porsche Market Recap for October 2023
Despite having an above-average number of Porsches offered in October, the market showed below-average results with a sell-through rate of 68%, being the second lowest we’ve seen all year. And a total dollar volume of $32,215,159, which was higher than the previous month thanks to a strong RS market, even though fewer cars found homes.
At the tip-top of the market, we saw a Gunther Werks modified 911 and a 911 Reimagined by Singer fail to sell at high bids of $1,150,000 and $955,000 respectively. But the $300-500,000 market performed spectacularly, with two new 992 GT3 RS examples becoming the first to sell at an average of $450,000. The previous generation of GT3 RS cars also showed decent gains after a softer September, with two examples selling at above-average prices of $262,000 and $253,500.
911 RS cars weren’t the only Rennsports to look strong either, as Porsche’s 718 Cayman GT4 RS Weissach prices looked a tad bit stronger since August. All three examples offered found homes with our top lot selling for $247,000. Regular 718 GT4s, on the other hand, looked much softer, with two cars selling for $115,000 and $122,000 and a third failing to sell at a high bid of $113,500. 718 Spyders appeared flat month over month with sales below $120k, which was similar to what we saw in September after a solid August.
Manual 964 Coupes continued to perform, with most cars selling over $100,000 and a lightly modified example fetching a very strong $163,991. 993 Coupes, on the other hand, appeared to remain flat with all sales, save for one, hammering down just below $100,000. And then there’s the manual 996 Coupes, which continues to show lower highers and a dropping average price month after month.
Speaking of Coupes, 356C Coupes struggled to sell, with only one example out of four finding a home for $94,500. The rest of the bids we saw weren’t even close. However, we saw two 356B Coupes sell at $125,000 (about average for a T5) and a T6 GS/GT Tribute at $110,000. The star of the 356 Market was a 1962 356B 1600S Twin Grill Roadster that sold for $295,000, the best we’ve seen since 2019.
Turbocharged 911s were a mixed bag with water-cooled cars and 930s looking soft with the 964 and 993s still performing well. 996 Turbos saw the average continue to fall despite two strong sales, and only one 997 Turbo Coupe 6-speed selling for over $100,000. The vast majority of 930 Turbos looked somewhat softer after being flat for the last twelve months with a solitary 3.3-liter 964 Turbo selling which pushed the average up at a final bid of $239,000. 993 Turbos continue to make gains with strong sales over $250,000, and our top sale of the month, a 1997 911 Turbo S, selling for an above-average $550,000.
Other strong sales included a $50,000 1989 944 Turbo, a 2023 911 Dakar that sold for $405,000, a 2019 911 Speedster at $395,000, and a 2011 911 GT3 RS that brought $291,000. While “normal” Porsche models seem to either be flat or softening, the best examples and limited editions are still creeping upward.
- 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