Porsche Market Recap January 2025
January 2025 kicked off the year with steady, if slightly subdued, results in the Porsche auction market. The 69% sell-through rate across 561 cars brought in a total of $41,125,442, a dip from last January’s $44,026,566 off of 592 units. While the market’s cooling trend continued at the top end, there were still standout moments, including two 928s cresting the $100,000 mark, a rare feat for the transaxle model. Meanwhile, the GT2 RS market showed surprising strength, with multiple sales exceeding recent averages and reinforcing its position as one of the most sought-after modern Porsche models. That dollar volume, however, could have been significantly higher had a certain comedian’s race car found a buyer. Instead, it joined the growing list of high-profile no-sales, a sign that while enthusiasm remains, bidders are getting more selective at the upper tiers.
The 928 market saw one of its strongest months in recent memory, with a 67% sell-through rate across 15 sales totaling $380,713. While the model line has historically lagged behind its air-cooled counterparts, two standout results showed that collectors are willing to pay for rarity and presentation. The star of the month was a 1980 928S 5-Speed finished in Lindgrünmetallic over Brown leather with Pasha velour inserts. With 82,000 miles, this example shattered expectations by selling for $142,069, well above the model’s twelve-month average of $34,000 and recent comps in the $40,000 range. The rare color combination appears to have driven the premium, a trend worth watching in the transaxle segment. Also noteworthy was a 1979 928 5-Speed in Silver Metallic over Cork leatherette with Pasha inserts, which had previously been bid to $68,000 as a no-sale in November. This time, it found a buyer at $100,000, despite the twelve-month average sitting at just $27,500 and its nearest mileage comp selling for $45,100. These results reinforce that when it comes to 928s, spec and presentation matter more than ever.
The 991.2 GT2 RS market had a breakout month, further cementing its place as one of the most desirable modern Porsches. Although only three examples crossed the block, two of them delivered staggering results, far surpassing the model’s late-2024 average of $386,000. Leading the charge was a 2018 GT2 RS finished in Miami Blue over Black, equipped with the Weissach Package and showing just 103 miles. It sold for $594,000 at Mecum’s Kissimmee sale, setting a new high-water mark for a non-Clubsport example. Not to be outdone, another 2018 GT2 RS in Red over Black, also with the Weissach Package and 172 miles, hammered at $605,000 at Barrett-Jackson Scottsdale. With results like these, it’s clear that low-mileage, highly optioned examples remain in high demand, pushing values well beyond recent norms.
For 911s Reimagined by Singer, January told a different story. Historically, 4.0-liter Ed Pink-powered examples have commanded $1M-plus, while earlier 3.8-liter builds have remained sub-$1M. This month, however, two high-spec 4.0-liter examples sold below expectations. The 1991 “Step On It” commission, finished in Blue over Montecello square-weave leather, with just 68 miles, hammered at $966,000—strong, but short of the million-dollar mark. Likewise, a 1989 commission, finished in Green Blood Dark over Baseball Glove Connolly Monza leather, sold for $935,000. More Singer builds are currently available at auction and privately than ever before, giving buyers greater selection and reducing the urgency to bid aggressively. While 4.0-liter builds still command a premium, the automatic $1M floor may no longer be guaranteed, with buyers scrutinizing specs, mileage, and individual commission details more carefully.
The top end of the market struggled, with only two out of eight million-dollar-plus expected cars selling—both 959s. The biggest no-sale was the 1969 Porsche 917K, formerly owned by Steve McQueen and used as the hero car in Le Mans. Recently part of the Jerry Seinfeld collection, this historic machine reached a final bid of $25,000,000 but failed to sell, a surprising result for such a significant race car. A familiar face was the 1959 Porsche 718 RSK center-seat Spyder, which failed to sell for an astounding seventh time in a row, this time stalling at $2,500,000. Bidders appear to have lost patience with this one. Other notable no-sales included a 1992 Schuppan-Porsche 962CR ($1.5M), a 1966 910 ($1.3M), a 1976 934 ($1.2M), and the infamous Coca-Cola 935/84 ($1.1M). These results make one thing clear—while rarity remains important, it is no longer enough to guarantee a result at the highest levels.
January’s numbers suggest that the Porsche market remains active but selective, particularly at the top. Buyers are paying up for the right cars, as seen with GT2 RS and 928 results, but they are also picking their battles—as evidenced by the Singer softening and high-profile no-sales. With more Singer builds available than ever before, increased supply may continue to shape that segment in the months ahead. Looking forward, February brings the Paris Retromobile sales, traditionally a strong venue for European and competition-focused Porsches, while March will bring major auctions in Miami and Amelia Island—both key indicators of where the market is heading. If January was any indication, sellers with high expectations may need to adjust their reserves as we move deeper into 2025.
