The 2017 Porsche auction season kicked off this year in Scottsdale with mixed results. At the end of 2016 it seemed like the market for everything air-cooled was, at best, stalling. Then, everything changed with RM Sotheby’s Duemila Ruote auction results. Unfortunately, that momentum didn’t continue into 2017. While quite a few Porsches were sold, pricing didn’t continue in the same direction that the Duemila Ruote auction seemed to indicate. Don’t get me wrong, there were quite a few nice sales, but nothing (at least of what’s been published so far) that was unexpected. In fact, the only unexpected results were the 2 993 GT2s that failed to sell. We’re still waiting on results from a few of the auction houses and will update our post as they come in.
Bonhams
Of the 11 Porsches on offer at Bonhams in Scottsdale this year, 5 of them were offered without reserve. The other five of the other six had reasonable reserves and all sold well as a result. The only Porsche left unsold was the 918 spyder with a pre auction estimate of $1,300,000 to $1,500,000. While all 918 Spyders are spoken for and many have already resold, it’s possible that the market for flipping these cars is cooling. All you have to do is take a look at the number of them listed on eBay to get an idea that if one really wants one, you’ll probably find one. Pricing still remains to be seen.
- 10 of the 11 Porsches offered for sale were sold
- Largest Sale went to Lot 88 a 1964 Porsche 904 GTS for $2,310,00
The biggest Porsche sale of the weekend took place at Bonhams with Lot 88 a 1964 Porsche 904 GTS. Even painted in an unoriginal color the 904 still realized a high bid of $2,310,000 (including buyer’s premium). On the other end of the spectrum was the 1987 944S. Sold without reserve and a pre-auction estimate of $30,000 to $40,000, this well presented transaxle Porsche sold $26,400. Well below pre-auction estimates, but still very respectable given the number of these Porsches produced.
Total Porsches Sold: 10. Total Value Realized: $3,708,100
Lot 4 – 1977 Porsche 911 Carrera 3.0 Coupe (Est. US$ 100,000 – 150,000 no reserve) Realized $60,500
Lot 23 – 1966 Porsche 911 2.0 Coupe (Est. US$ 170,000 210,000 no reserve) Realized $145,700
Lot 27 – 1956 Porsche 356A 1600 Speedster (Est. US$ 425,000 – 525,000) Realized $528,000
Lot 35 – 1970 Porsche 914-6 (Est. US$ 65,000 – 85,000 no reserve) Realized $60,500
Lot 36- 2015 Porsche 918 Spyder (Est. US$ 1,300,000 – 1,500,000) No Sale
Lot 47 – 1953 Porsche 356 Pre-A Cabriolet (Est. US$ 225,000 – 300,000) Realized $225,000
Lot 61 – 1960 Porsche 356B 1600 Cariolet (Est. US$ 150,000 – 175,000) Realized $154,000
Lot 73 – 1979 Porsche 930 3.3 Turbo Coupe (Est. US$ 130,000 – 160,000 no reserve) Realized $93,500
Lot 88 – 1964 Porsche 904 GTS (Est. US$ 2,000,000 – 2,500,000) Realized $2,310,000
Lot 94 – 1987 Porsche 944 S Coupe (Est. US$ 30,000 – 40,000 no reserve) Realized $26,400
Lot 98 – 1961 Porsche 356 Outlaw Coupe with Coachwork by Reutter (Est. US$ 90,000 – 120,000) Realized $104,500
View the entire Porsche Catalog
Gooding & Company
Gooding had on offer 23 Porsches this year including a 993 GT2, a 959 Komfort, a 993 Turbo S, a Carrera GT and a very interesting garage/barn find 356 Speedster. Of particular interest is the fact that 17 of the 23 Porsches offered for sale by Gooding were sold without reserve.
- 21 of the 23 Porsches offered for sale were sold
- Largest Sale went to Lot 140 a 1996 Porsche 959 Komfort for $1,089,000
- Most surprising was the non sale of the 993 GT2 and the price realized for lot 107 (1967 Porsche 912) which brought $114,400.
Lot 62 – 1958 Porsche 356 A Super Speedster (Est. US$ 200,000 – 275,000 no reserve)
This image copyright and courtesy of Gooding & Company. Photos by Jensen Sutta.
We wrote about this “barn find” just before the auction explaining that it was truly more a “garage find” than a barn find. However, that didn’t stop those interested from bidding up the price will beyond the estimates. I guess you can’t put a price on originality. Or, maybe you can. In this instance that price was $341,000.
Total Porsches Sold: 21. Total Value Realized: $5,091,900
Lot 007 – 1989 Porsche 911 Carrera Cabriolet (Est. US$ 60,000 – 80,000 no reserve) Realized $81,400
Lot 011 – 1979 Porsche 930 (Est. US$ 180,000 – 220,000 no reserve) Realized $145,700
Lot 017 – 1961 Porsche 356 B Coupe (Est. US$ 90,000 – 110,000 no reserve) Realized $90,750
Lot 025 – 1973 Porsche 911 2.4 S (Est. US$ 200,000 – 250,000 no reserve) Realized $187,700
Lot 035 – 1975 Porsche 911 Carrera 2.7 (Est. US$ 120,000 – 150,000 no reserve) Realized $110,000
Lot 042 – 1988 Porsche 959 Komfort (Est. US$ 1,100,000 – 1,300,000) Realized $1,089,000
Lot 043 – 1965 Porsche 356 SC Cabriolet (Est. US$ 225,000 – 275,000 no reserve) Realized $192,500
Lot 054 – 2011 Porsche 997 GT3 RS 3.8 (Est. US$ 225,000 – 275,000 no reserve) Realized $214,500
Lot 057 – 1973 Porsche 911 2.4 S Targa (Est. US$ 250,000 – 325,000) UNSOLD
Lot 060 – 1989 Porsche 930 Cariolet (Est. US$ 125,000 – 150,000 no reserve) Realized $143,000
Lot 062 – 1958 Porsche 356 A Super Speedster (Est. US$ 200,000 – 275,000 no reserve) Realized $341,000
Lot 107 – 1967 Porsche 912 (Est. US$ 60,000 – 80,000 no reserve) Realized $114,400
Lot 109 – 1989 Porsche 911 Carrera (Est. US$ 90,000 – 120,000 no reserve) Realized $105,600
Lot 113 – 1979 Porsche 930 (Est. US$ 140,000 – 180,000 no reserve) Realized $115,000
Lot 116 – 1973 Porsche 911 2.4 T (Est. US$ 150,000 – 180,000 no reserve) Realized $165,000
Lot 122 – 1976 Porsche 911 2.7 S Signature Edition (Est. US$ 120,000 – 140,000 no reserve) Realized $93,500
Lot 135 – 1971 Porsche 911 2.2 E Targa (Est. US$ 175,000 – 225,000 no reserve) Realized $170,500
Lot 140 – 1996 Porsche 993 GT2 (Est. US$ 1,300,000 – 1,600,000) UNSOLD
Lot 145 – 2011 Porsche 997 Speedster (Est. US$ 275,000 – 325,000 no reserve) Realized $275,000
Lot 149 – 1970 Porsche 914-6 (Est. US$ 80,000 – 100,00 no reserve) Realized $99,000
Lot 150 – 1997 Porsche 993 Turbo S (Est. US$ 400,000 – 500,000) Realized $396,000
Lot 156 – 2005 Porsche Carrera GT (Est. US$ 650,000 – 750,000) Realized $621,500
Lot 158 – 1958 Porsche 356 A Speedster (Est. US$ 400,000 – $500,000) Realized $341,000
RM Sotheby’s
RM Sotheby’s may only have had 13 Porsches for sale as compared to Gooding’s 23. However, what they lacked in quantity they more than made up for in quality. As if a mirror image to Gooding, RM Sotheby’s also had on offer a Carrera GT, a 959 Komfort, a 993 Turbo S and 993 GT2.
- 11 of the 13 Porsches offered for sale were sold
- Largest Sale went to Lot 226 a 1987 Porsche 959 Komfort for $935,000
- Most surprising was the non sale of the 993 GT2
Total Porsches Sold: 11. Total Value Realized: $3,894,000
Lot 145 – 1958 Porsche 356 A 1600 S Cabriolet by Reutter (Est. US$ 180,000 – 240,000 no reserve) Realized $198,000
Lot 124 – 1955 Porsche 356 A 1600 Speedster by Reutter (Est. US$ 275,000 – 325,000 no reserve) Realized $280,500
Lot 229 – 1957 1957 Porsche 356 A 1600 Speedster by Reutter (Est. US$ 340,000 – 380,000) Realized $330,000
Lot 111 – 1965 Porsche 356 C 1600 C Cabriolet by Reutter (Est. US$ 125,000 – 150,000 no reserve) Realized $145,750
Lot 119 – 2016 Porsche 911 Carrera GTS Rennsport Reunion Edition (Est. US$ 250,000 – 300,000) Realized $225,500
Lot 136 – 1993 Porsche 911 Carrera RS America (Est. US$ 150,000 – 200,000 no reserve) Realized $154,000
Lot 218 – 1996 Porsche 911 GT2 (Est. US$ 1,100,000 – 1,500,000) No Sale
Lot 144 – 2011 Porsche 911 GT2 RS (Est. US$ 450,000 – 500,000) No Sale
Lot 125 – 2011 Porsche 911 GT3 RS (Est. US$ 225,000 – 275,000) Realized $225,500
Lot 212 – 1989 Porsche 911 Turbo ‘Flat Nose’ Cabriolet (Est. US$ 225,000 – 275,000) Realized $239,250
Lot 215 – 1997 Porsche 911 Turbo S (Est. US$ 425,000 – 500,000) Realized $418,000
Lot 226 – 1987 Porsche 959 ‘Komfort’ (Est. US$ 900,000 – 1,200,000) Realized $935,000
Lot 133 – 2005 Porsche Carrera GT (Est. US$ 650,000 – 750,000) Realized $742,500
Russo & Steele
Awaiting results
Other Russo & Steele Porsche Lots For Sale
Lot 8614 – 1994 Porsche 3.6 Turbo Coupe (no reserve)
Lot 8483 – 2007 Porsche GT3 RS
Lot 8482 – 1997 Porsche ANdial Turbo Coupe
Lot 8090 – 1969 Porsche 911 E Targa
Lot 8121 – 1986 Porsche 911 930 Turbo Coupe
Lot 8132 – 1986 Porsche 911 Turbo Coupe
Lot 8479 – 1971 Porsche 911 T “Survivor” Coupe
Lot 8566 – 1995 Porsche 911 Coupe (no reserve)
Lot 8342 – 1976 Porsche 911 S Strosek Edition Cabriolet
Lot 8564 – 1986 Porsche 944 Coupe (no reserve)
Lot 8565 – 1993 Porche 968 Coupe (no reserve)
Lot 8325 – 1987 Porsche Carrera Targa
Lot 8087 – 1976 Porche 912 E Coupe
Lot 8586 – 1959 Porsche 356 A T2 Sunroof Coupe
Lot 8408 – 1982 Porsche 911 Targa (no reserve)
Barrett-Jackson
Barrett-Jackson is quickly making a name for themselves within the world of Porsche auctions. While they still don’t have the consistency and quality we see at Gooding and RM Sotheby’s, they definitely have the quantity. Combine that with reasonably strong realized prices and a few very nice examples and I wouldn’t be surprised to see them continue to grow in this area.
- Most Porsches sold at 30
- Largest sale was Lot 1396 – a 2005 PORSCHE CARRERA GT at $616,000
- Most surprising sales, for me, were the two early Boxster that sold in the low teens, Lot 82 and Lot 149
Total Porsches Sold: 30. Total Value Realized: $2,451,350
Lot 40 – 2007 PORSCHE BOXSTER CONVERTIBLE (no reserve) Realized $12,650
Lot 82 – 2000 PORSCHE BOXSTER (no reserve) Realized $13,200
Lot 149 – 1997 PORSCHE BOXSTER (no reserve) Realized $15,400
Lot 161 – 2001 PORSCHE 911 CARRERA 4 CONVERTIBLE (no reserve) Realized $20,900
Lot 321 – 2002 PORSCHE BOXSTER (no reserve) $14,300
Lot 361 – 1983 PORSCHE 928S (no reserve) Realized $18,150
Lot 363 – 1999 PORSCHE 911 CARRERA (no reserve) Realized $18,700
Lot 562 – 1974 PORSCHE 911 (no reserve) Realized $31,900
Lot 617 – 1987 Porsche 924 (no reserve) Realized $8,250
Lot 638 – 1988 PORSCHE 959 ROADSTER RE-CREATION (no reserve) Realized $21,450
Lot 699 – 1988 PORSCHE 911 CABRIOLET (no reserve) Realized $34,100
Lot 700.2 – 2002 Porsche 911 Carrera 4S Realized (no reserve) $29,700
Lot 727 – 1970 PORSCHE 911 TARGA (no reserve) Realized $52,800
Lot 728 – 1978 Porsche 911 Custom Coupe (no reserve) Realized $44,000
Lot 823 – 1977 PORSCHE 911S (no reserve) Realized $132,000
Lot 823.1 – 1971 PORSCHE 911T (no reserve) Realized $63,800
Lot 830 – 1973 PORSCHE 911T CUSTOM COUPE (no reserve) Realized $39,600
Lot 831 – 1978 PORSCHE 911 RS RE-CREATION (no reserve) Realized $66,000
Lot 992.1 – 1995 PORSCHE CARRERA CABRIOLET (no reserve) realized $33,000
Lot 1034.1 – 1964 PORSCHE 356C (no reserve) Realized $64,900
Lot 1155 – 1962 PORSCHE 356B (no reserve) Realized $71,500
Lot 1323 – 1997 PORSCHE 911 993 TURBO (no reserve) Realized $220,000
Lot 1333 – 1991 PORSCHE 911 CARRERA 2 TARGA RWB (no reserve) Realized $82,500
Lot 1367 – 1967 PORSCHE 911S (no reserve) Realized $170,500
Lot 1396 – 2005 PORSCHE CARRERA GT (no reserve) Realized $616,000
Lot 1424 – 1973 PORSCHE 911S (no reserve) Realized $203,500
Lot 1427 – 1977 PORSCHE 930 TURBO (no reserve) Realized $181,500
Lot 1449 – 1979 PORSCHE 930 TURBO (no reserve) Realized $125,400
Lot 1522 – 2000 Porsche Boxster S Convertible (no reserve) Realized $15,950
Lot 1637 – 2007 Porsche 911 (no reserve) Realized $29,700
WorldWide Auctioneers
According to Worlwide Auctioneer’s web-site, only 3 of the 5 Porsches they had available sold. All three sales hammered in well below even the low estimates. I’m not sure if this is a case of having the wrong crowd, if the estimates were a bit too generous to begin with or, more likely, indicative of the state of the overall market.
Total Porsches Sold: 3. Total Value Realized: $726,000
Lot 57 – 1953 Porsche 356/1500 ‘Bent Window’ Cabriolet (Est. US$ 300,000 – 400,000 no reserve) Realized $275,000
Lot 37 – 1955 Porsche 356A/1600 Speedster (Est. US$ 350,000 – 450,000 no reserve) Realized $297,000
Lot 8 – 1959 Porsche 356A/1600 Convertible D (Est. US$ 180,000 – 220,000 no reserve) Realized $154,000
Lot 15 – 1974 Porsche 911 2.7L Carrera Targa (Est. US$ 120,000 – 150,000) UNSOLD
Lot 76 – 1989 Porsche 911 Carrera Speedster (Est. US$ 190,000 – 220,000) UNSOLD
View their Porsche offerings here
As of January 25, 2017 we’re still waiting on Russo and Steele to publish their results
