The Scottsdale Auctions are now over, and we've seen what some of our favorite vintage Porsche cars have sold for. So what's the story, are you holding onto your classic for another few years, or are you getting out before the "bubble" bursts? Is a single auction a viable source to decide how the market is going to play out in the near future? No, probably not, but it is a good talking point. Let's get to talking then. There were more than thirty Porsches that found new owners in Arizona over the weekend, and the four major auction houses sold a total of $13,900,700 worth of P-car sheet metal. Maybe that "bubble" is still growing?
Total Porsches Sold: 11
Total Porsche Dollar Value: $4,510,000
RM Auctions had a few interesting lots to discuss, and with only two no-sale Porsche lots, they did an excellent job of finding new owners. Their 959 went for an easy million, falling well short of the $1.5 that was captured for one in Monterey, but still much more than it would have brought for sale a year ago. If prices keep going up like we think they will, we'll look back on this as an exceptional purchase in a handful of years when it's more than doubled in value. The 904 sale, in my humble opinion, was a bit soft. Sure, it's not a numbers matching car, but it does come with a period correct four-cam engine, and it seems to be very well prepared. At 1.5 million, this car did make the low end of its estimate, but I figured it'd be closer to the high estimate of $2 million than it was.
- The 69 Soft-Window Targa is certainly a rare car, but I'm not sure I expected a sale price of nearly $300 grand. That car easily cleared it's pre-auction estimate range, showing that the rarest cars are still highly desirable.
- The 964 RS America sold below it's pre-auction estimate, proving that $100 grand is pretty much all of the money for that car. I still don't understand why people are paying even that price, but luckily it isn't my money.
- Finally, I think the 'Emory Special' went for a great selling price at $285,000, and I'm sure the seller was happy with that money. The POLO engine is certainly worth a fair bit, an there is a whole lot of excellently modified sheetmetal that couldn't have been cheap to produce, but I'd wager the seller made a tidy profit on that one. If you want one of your own, call up Emory for a quote, I'm sure he'd be happy to build you one, too!
Lot 108 - 1988 Porsche 911 Turbo Slant Nose Coupe - No Sale
Lot 123 - 1960 Porsche 356 1600 Super Roadster - $247,500
Lot 130 - 1988 Porsche 959 Komfort - $1,045,000
Lot 135 - 1989 Porsche 911 Carrera Speedster - $198,000
Lot 142 - 1964 Porsche 356 SC Sunroof Coupe - $159,500
Lot 143 - 1965 Porsche 904 Carrera GTS - $1,650,000
Lot 160 - 1994 Porsche 911 (964) RS America - $104,500
Lot 163 - 1965 Porsche 911 - $297,000
Lot 205 - 1973 Porsche 911S Coupe - No Sale
Lot 214 - 1969 Porsche 911T Coupe - $121,000
Lot 220 - 1969 Porsche 911S Soft-Window Targa - $286,000
Lot 263 - 1955 Porsche 356 Pre-A 'Emory Special' Coupe - $258,500
Gooding & Co.
Total Porsches Sold: 19
Total Porsche Dollar Value: $7,532,250
The big talk here is the 2.7 Carrera RSH ending with a no-sale bid. Had that Porsche sold it would have easily pushed Gooding over the $8 million dollar Porsche sales barrier, potentially doubling RM's sales and absolutely blowing Bonhams' Porsche totals out of the water. Gooding was throwing focus on their Porsche lots, and they brought some serious machinery. With one of their major lots going unsold, they still had two big headliners that stole the show.
- The biggest surprise for me was the 959 Sport selling for $1.7 million dollars. This is definitely a new high water mark for 959 sales, and the person who purchased the red 959 Sport that Gooding sold last year for an even million was probably smiling as the bidding on this white car crept above the $1.5 million mark. How long until 959s break the $2 million mark?
- The big one, though, was the 906 Carrera 6. Goodness what a beautiful car this was, and the price reflected that. At just shy of the the $2 million mark, this wasn't really a shock sale, but it did end up falling just below the low estimate for the car. As a side note to whoever purchased this car, Rennsport V is coming up this fall and you simply must attend with this beautiful piece. Please. Do it for the fans.
- A 993 Turbo trading hands at $220,000 sounds familiar. Where have I heard figures like that before?
- The buyer and the seller of lot 016, the Carrera 2 Coupe, should both be pretty happy. The seller got the best money in the world for that car ($643,500), and the buyer got the best car in the world for that money. Great buy, great sale, even better car. It looks supremely well put together.
One last comment: When did a 912 warrant $82,500? It's the nicest one I've seen, but boy, are they ever out of my price range now!
Lot 016 - 1963 Porsche 356 Carrera 2 Coupe - $643,500
Lot 020 - 1967 Porsche 911S Coupe - $253,000
Lot 026 - 1973 Porsche 911T Coupe - $115,500
Lot 031 - 1973 Porsche 911S Coupe - $145,750
Lot 037 - 1986 Porsche 911 Turbo - $126,500
Lot 042 - 1973 Porsche 911 Carrera 2.7 RSH - No Sale
Lot 045 - 1959 Porsche 356 Convertible D - $187,000
Lot 054 - 1961 Porsche 356 Roadster - $165,000
Lot 060 - 1966 Porsche 911 - $170,500
Lot 106 - 1966 Porsche 912 - $82,500
Lot 112 - 1973 Porsche 911S Coupe - $187,000
Lot 118 - 1996 Porsche 911 (993) Turbo - $220,000
Lot 124 - 1989 Porsche 911 Carrera Speedster - $209,000
Lot 138 - 1966 Porsche 906 Carrera 6 - $1,980,000
Lot 139 - 1972 Porsche 911S Targa - $132,000
Lot 142 - 1988 Porsche 959 Sport - $1,705,000
Lot 151 - 1965 Porsche 356SC Cabriolet - $242,000
Lot 153 - 2011 Porsche 911 (997.2) GT3 RS 3.8 - $231,000
Lot 157 - 1965 Porsche 911 - $253,000
Lot 160 - 1958 Porsche 356 Speedster - $484,000
Total Porsches Sold: 9
Total Porsche Dollar Value: $1,070,300
Overshadowed by a strong Ferrari sale at over $9 million, the Porsche pickings were a bit on the slim side over at Bonhams, with 9 cars combining to a total just over one million dollars, and a crucial no-sale of their P-car headliner. When an '89 Speedster is your top earning Porsche sale, it's clear you didn't focus too hard on bringing the best Porsche lots you could have [or the best Porsche buyers].
Regardless of its no sale, the Carrera RS looked like a very nice car and probably worth the 7 figures it was heading toward. I don't know what the reserve price was, but it sure was up there. The auctioneers mentioned that the bidders were very close to the buyer's reserve price, and should talk to him after the event was over, so perhaps that car changed hands in private.
There were four 930 Turbos for sale in Scottsdale this year, and every single one of them sold for a decent bit above the 6 figure mark. I'll be honest, I never thought I'd see the day. These cars were all very good examples, and the least expensive of them, the tan over brown '89 Turbo Cabriolet, was my favorite by a good margin.
Lot 101 - 1972 Porsche 911T Coupe - $71,500
Lot 103 - 1989 Porsche 930 Turbo Cabriolet - $121,000
Lot 113 - 1967 Porsche 911S Coupe - $137,500
Lot 117 - 1973 Porsche 911E Targa - $104,500
Lot 119 - 1961 Porsche 356B Super Hardtop - $94,600
Lot 143 - 1957 Porsche 356A Coupe - $103,400
Lot 145 - 1989 Porsche 911 Speedster - $214,500
Lot 166 - 1973 Porsche 911 Carrera RS 2.7 - No Sale
Lot 173 - 1987 Porsche 911 Turbo Coupe - $129,800
Lot 178 - 1970 Porsche 911T Coupe - $93,500
Total Porsches Sold: 12
Total Porsche Dollar Value: $788,150
- A few notes about that 928 Custom Roadster: I freakin' love it, and I think it's an excellent piece of an extensive collection. It's probably not enough to have just that car, I envision this piece being something eclectic sitting in between a 2.7 RS and a 58 Speedster meant entirely to spark conversation from guests ranging from "What is that?" to "Why on earth?". Thirty-three grand is a bit more than I'd spend, but as a conversation piece for a wealthy collector, that's next to nothing.
- The Togo Brown SC Coupe brought strong money. While it wasn't the near quarter million that RM got for a sunroof model, it's strong money for a 356 in muscle car country.
- The 996 Turbo Coupe (Lot 1209) is pretty high dollar for a low miles 996 Turbo. I've seen a few trade hands at these prices, and even helped facilitate the sale of one to an acquaintance on the opposite coast. When it comes down to it, the best 996s (ie. C4S, Turbo, and GT3) have reached the bottom of their depreciation curve and are starting to go back up again. Get one before it's too late.
- The big surprise of this sale was the Rinnspeed. I did not expect that car to be the highest selling 930 in Scottsdale in a million years. They don't come up for sale often enough to give any indication of a "market value", but this one seems a bit high to me. Don't get me wrong, I love the car, in all of its 1980s glory, but I'd much rather have an original bone stock 89 coupe than this vintage tuner car. Good thing not everyone is like me, life would be boring that way.
Lot 225 - 1955 Porsche Speedster Replica - $35,200
Lot 317 - 1985 Porsche 928 - $16,500
Lot 361 -1955 Porsche Speedster Replica - $13,200
Lot 584 - 1982 Porsche 928 Custom Roadster - $33,000
Lot 625 - 1955 Porsche Speedster Replica - $23,100
Lot 648 - 1983 Porsche 911 SC - $37,950
Lot 700 - 1988 Porsche 911 3.2 Carrera Cabriolet - no sale
Lot 798 - 2011 Porsche 911 (997) Carrera 2 Cabriolet With Misha Design body kit - $95,700
Lot 906 - 1977 Porsche 911S Targa - $27,500
Lot 907 - 2001 Porsche 911 (996) Carrera 4 Cabriolet - $22,000
Lot 914 - 1976 Porsche 912E - $16,500
Lot 1065.1 - 1965 Porsche 356SC Coupe - $110,00
Lot 1099 - 1988 Porsche 911 Turbo Coupe - $115,500
Lot 1209 - 2002 Porsche 911 (996) Turbo Coupe - $53,900
Lot 1259 - 1986 Porsche 930 Turbo R69 Rinnspeed - $165,000
Lot 1550 - 1957 Porsche Speedster Replica - $23,100
[All listed prices include buyer premiums]
Other Porsche Blog Posts You Will Enjoy
The Definitive Porsche Scottsdale Auction Preview
Our Favorite Porsches On Ebay For The Week Of January 19th
2014 Bonhams’ Bond Street London Auction Results