PORSCHE MARKET RECAP FOR OCTOBER 2024
After a stellar August, the Porsche market hit a rough patch in September, with only 63% of the 651 Porsches offered finding buyers, totaling $29,632,420. This 63% sell-through rate is the lowest since I began tracking the market in 2022, with some days dipping into the 30% range.
However, not all models followed this trend. Several cars exceeded recent averages, and a few even set new twelve-month highs. Notably, a 53,000-mile 1988 911 Carrera Targa M491 fetched a final bid of $170,000. This Black-on-Black Turbo-body Targa last sold in August 2022 for $92,500—quite a return for just two years of ownership.
Short-wheelbase 912s have seen a resurgence over the past few months, jumping from an average of $34,000 in April to nearly $52,000 today. That’s impressive, but pales in comparison to the $72,000 an Ivory White 1968 912 Coupe brought in after being bought as a project just a few years ago.
In the modern market, 992 GT3s struggled, with most selling well below the $233,000 average. A 4,100-mile example set a new low, hammering at $212,000. While no manual winged cars sold this month, several 6-speed Tourings crossed the block, and these proved to be highly spec-dependent. A PTS car in China Grey with 2,300 miles brought $327,000, while another PTS in Superior Red, with fewer miles, sold for just $260,000.
993 Turbos also softened, with every example falling below the $274,000 average we had going into September. The best deal came from a Polar Silver over Black 1996 911 Turbo with 28,000 miles. Despite questions around the mileage, the car presented well and sold for a final bid of $198,000—far below average.
The weakest-performing model line, however, was the 356 market. Of the 19 cars on offer, only 26% found buyers. Those that did sell were offered at softer prices, with some great deals to be had. A 1960 356A Super 90 Roadster, for example, went for $169,000. The car lacked its original engine but had recently undergone restoration. Even without the numbers-matching engine, this price was an absolute steal.
October has so far mirrored September’s trends, but several big auctions, including Bonhams’ Audrain Concours sale and Broad Arrow’s Chattanooga Auction, are still on the horizon. We’ll see if these events can help turn the tide as August’s did. Until then, we wait.
