Porsche 997 Review

The Porsche 997 was the updated replacement for Porsche’s first water-cooled 911, the 996, updating the look of the car inside and out to separate it visually from the Boxster line of sports cars with which the 996 shared many components and visual aspects. Most notable was the absence of the “fried-egg” style headlights with a move back towards the classic oval look and a much-updated interior. Also new in the 997 range was the S version offering additional power from a slightly larger engine along with sports suspension and sports exhaust.

Mechanically speaking, the 997 was much improved over the outgoing 996 as the previous 911’s engine suffered from the much-hyped IMS Bearing failure. While the early 997s still contained the serviceable IMS bearing that was more prone to failure, the majority of cars were shipped with the improved M96-05 engine and its non-serviceable IMS bearing. Second-generation 997.2 cars had the DFI engine with the IMS unit completely removed eliminating the worries completely.

Porsche 997.1 Price Guide

Launched in 2004 for the 2005 model year, the first cars to be delivered were the Carrera and Carrera S followed by the Carrera 4 and Carrera 4S variants, and then the Cabriolets. The Targa 4 and Targa 4S variant followed in 2006 for the 2007 model year with a glass roof system similar to the unit used on the previous generation 911.

997.1 Carrera pricing has been hovering around the $40,000 mark for the last 12 months with 6-speed manual Coupes having an average price of $40,695 for cars with between 35-80,000 miles. The high for the model was $86,000 miles for an 85-mile car and the low was $27,000 for a car with well over 100k on the clock. When it comes to Coupes equipped with the Tiptronic transmission, expect about a $6,000 decrease in pricing.

Cabriolets have proven to sell at about a $2,000 premium compared to the coupes with the Tiptronic transmission having less of a negative impact on pricing with a deficit of about $4,000. Carrera 4’s for both Coupe and Cabriolet are somewhat softer but only slightly and Targa cars seem to be on par with Cabriolet pricing.

Manual Carrera S models sell for quite the premium over standard Carrera Coupes with an average of $54,867 and a high of $140,000 which was achieved for a 30,000-mile Paint To Sample example with Aerokit selling for $140,000 from a prominent Porsche collection. Pricing starts to dip below $50,000 once cars hit 60,000 miles and Tiptronic transmission-equipped cars appear to have a greater impact on the S range with pricing similar to non-S cars. Carrera S Cabriolets can be had at a discount to their Coupe counterparts with an average sales price of $47,975 and a bit less for Tiptronic-equipped examples.

Porsche 997.1 Turbo & Turbo Cabriolet Price Guide

In February of 2006, Porsche debuted the 997 Turbo with its widebody taken from the AWD models and a much more aggressive stance than the normal 911 models along with air vents on the rear quarter panels to enhance engine cooling. The engine, derived from the 911 GT1, utilized Variable Turbine Geometry (VTG) turbos to change their angle with exhaust speed in order to reduce turbo lag at low speeds and ease excessive back pressure at high RPM. Optionally, Porsche also offered their PCCB Carbon Ceramic brakes to reduce weight and resist fade over continuous track use. The Turbo Cabriolet shortly followed in the spring of 2007 offering performance on par with the coupe by providing similar torsional rigidity and enhanced aerodynamics.

997.1 Turbo Coupes with 6-speed manual transmissions have held steady at around $100,000 for your average car with cars with over 30,000 miles starting to consistently break that floor. The top sale over the last year belongs to a 2009 example with only 78 miles which sold for $285,991 in July of 2022. Expect to pay about $30,000 less for a Tiptronic example as they’ve averaged about $70,000 over the last 12 months with the top sale only hitting $106,400 for a 10k-mile car.

Manual Turbo Cabriolets have seen quite the rise over the last 5 years with average prices on par with Coupes although they don’t tend to consistently dip below $100k until you see about 45k on the clock. The lowest mileage example to sell in the past year was also the highest price paid for a 6-speed Turbo Cabriolet at $148,000 for a 2,800-mile car and expect a similar dip in price for a Tiptronic transmission-equipped example of roughly $30,000.

Porsche 997.1 GT3 Price Guide

Launched in conjunction with the Turbo, Porsche’s 997 GT3 also utilized the Mezger flat-six sans turbochargers with 409 bhp and 299 lb-ft of torque. On the outside, the GT3’s front bumper increased cooling, and at the rear, featured center tailpipes and a split rear wing. Inside, the 997 generation GT3 offered a bit more comfort than the outgoing 996 with “comfort” seats and PCM infotainment. A total of 917 GT3s were sold here in the United States over the run.

997.1 GT3s are a constant in the $100-150,000 range with color being the main determining factor in price variation. Only one US car has sold for less than $100k this year and that was for a 54,000-mile example, which wasn’t the highest mileage car either. Top sale honors go to a 6,000-mile example at $196,000, which was the only car to top the $150,000 ceiling.

Porsche 997.1 GT3 RS Price Guide

For the more hardcore drivers, Porsche introduced the 997.1 GT3 RS in October of 2006 as a homologation model for race cars to be used in a variety of GT racing series. Although the RS was based on the wider-bodied Carrera 4, it came in 44 lbs lighter thanks to a carbon fiber rear wing, steel engine cover, and lightweight plastic windscreen although US cars had a standard glass window. Mechanically the RS was similar to the standard GT3 save for a lightweight flywheel allowing it to rev to 8,400 RPM. Out of the estimated 1,168 GT3 RS’ delivered worldwide, 410 cars made their way to the US.

The RS variant of the 997.1 GT3 commands about a $100,000 premium over standard GT3 cars with the average price holding steady at $236,000 for the last 12 months. Green cars command a premium as the color is rarer than the Black and Orange offerings and if you’re buying a low mileage green example, expect to pay over $300k as top sale honors go to a 3,600-mile example that sold for $390,000 in December of 2022. The only US car to dip below the $200,000 mark was a Black with Orange accents car that sold for $175,000 due to repairs from an accident.

Porsche 997.1 GT2 Price Guide

First shown in November of 2007 for the 2008 model year, Porsche’s 997 GT2 carried on the legacy of manual rear-wheel-drive Turbo’s that homologated prior iterations for competition in the GT2 category of motorsport. With more power, more torque, and lighter weight, the GT2 became the fastest Porsche ever at the time and the first 911 to top the 200mph mark. The difference between the turbo visually included revised front and rear bumpers with a larger rear wing including air inlets and a titanium exhaust to save weight. A total of 194 units were brought to the United States.

With only 4 997.1 GT2s having traded hands in the previous 12 months, it’s difficult to find an average but it does seem that the market might be softening a bit as cars earlier in the year were trading above $300k with the last two previous sales hitting $271,000 and $285,000, all with similar miles.

Porsche 997 Club Coupe Price Guide

The 997 Club Coupe was a limited version of the Carrera S to mark the 50th anniversary of the Porsche Club of America in 2005. With only 50 units produced, it is the rarest of all 997s. Painted in Azzurro California with special commemorative badging, Sport Chrono Package Plus, X51 Power Package, and optional PCCB brakes, the Club Coupe was an instant collectible for the PCA and Porsche crowd.

Four out of the fifty 997.1 Club Coupes have sold in the last 12 months, all right around $100,000 with the highest price paid to be $115,000 which oddly enough, went to the highest mileage car with 39,000 miles.

Porsche 997.2 Price Guide

Unveiled at the Paris Motor Show in 2008 as a mid-cycle refresh of the 997, the second-generation car went on sale as a 2009 model with a host of upgrades both mechanically and visually. The suspension was completely revised and the engine was all-new with direct fuel injection, gone were the problematic issues that plagued the earlier M96 power unit. Outside the car received a revised front bumper with larger air intakes and a revised rear bumper with new LED tail lights. Inside the PCM system was upgraded with a touch-screen unit but the biggest change was the all-new PDK transmission replacing the Tiptronic S as an automatic transmission option. All Carrera, Carrera S, and Targas received these changes with the only additional change to the Targa being a new special glass that repelled UV rays.

Expect to pay about a $10,000 premium for a standard 6-speed 997.2 Carrera over the 997.1 with an average sales price of about $50,000. But when it comes to the new generation, cars equipped with the then-new PDK transmission didn’t discount the price as much as the previously-equipped Tiptronic cars did. Pricing doesn’t approach 997.1 levels until you get to cars over the 100,000-mile mark. We didn’t have any low mileage examples sold in the past year so there is no stand-out top sale but the ceiling appears to be $60,000, although I’d imagine that mark would be broken for a car with less than 20,000 miles. Carrera 4 examples tend to sell at a slight premium to standard Carrera Coupes irrespective of transmission choice.

Cabriolets also command a premium of a few thousand dollars compared to the Coupes with all cars save for one with an accident on the CarFax selling for just over $60,000. PDK Cabriolets sell at a bit more of a discount with only one example topping $60k and the rest selling below $50,000 with the market low being $36,750 for a 2009 car with over 85,000 miles and accident history.

When looking at Carrera S variants, add another $20,000 for manual examples with only one car selling below $60,000. Other than that sole 53,000-mile Canadian example, $70,000 was about average for a 6-speed Carrera S Coupe. Cars equipped with the PDK transmission sold in the range of $45,500 for a 115k-mile car to just shy of $70,000 for cars with an average of 50k miles. No real low mileage examples sold within the last year to give us a top sale but I’d expect a car with under 25,000 miles to break the $70k barrier.

As with the standard Carrera Cabriolets, Carrera S Cabriolets command a premium over Coupes with an average price of over $65,000 with prices dipping below $60k once you get to 50,000 miles. PDK-equipped Carrera S Cabriolets are about on par with 6-speed examples until they start to accumulate miles.

Porsche 997.2 Turbo & Turbo Cabriolet Price Guide

A year after the standard 997.2s were launched we saw the new 997.2 Turbo and Turbo Cabriolet for the 2010 model year. The car used the same new DFI engine but with revised VTG turbochargers, an Alusil block, a different dry sump lubrication system, and the previous generation GT2’s intake manifold. New software for the all-wheel-drive system and updated suspension enhanced handling and produced over 1g on a skid pad. Outside, the front and rear bumpers changed slightly and the car received the same updated lighting treatment as standard 997 Carreras. The PDK transmission was also available on the new Turbo but with optional paddles instead of buttons as placed on the Carrara’s steering wheel.

997.2 Turbos have quite the premium over older 997.1 cars as they are the last Turbo 911s to be offered with a 6-speed manual transmission. 6-speed coupes tend to trade at a low of $138,000 as seen on a 30,000-mile example sold earlier in the previous 12 months. Expect to pay north of $160,000 for cars with half that mileage. Turbo Coupes equipped with the new PDK transmission can be had a significant discount as they average shy of $90,000 with the highest price paid to be $117,000 for an 8,000-mile example this past summer.

Manual Turbo Cabriolets have seen a meteoric rise recently as they are rare as hen's teeth with only two cars selling in the US this past year at $157,000 and $235,000 for a 3,600-mile example. PDK-equipped cars are more prevalent and priced as such with an average price of $92,000 and a top sale of only $102,000 for an example with roughly 22,000 miles.

Porsche 997.2 Turbo S Price Guide

A more powerful Turbo S was also available with PDK, PCCB brakes, and the Sport Chrono package as standard equipment. The car offered 30 more horses thanks to revised intake valve timing and a carbon airbox making it the fastest production Porsche to date with the new GT2 RS.

997.2 Turbo S’ trade at a slight discount to regular 6-speed Turbos as they were only offered with a PDK transmission, only bettering our Turbo numbers on 2 sub-5,000-mile cars. Should a sub-5,000 6-speed Turbo sell, I’d expect prices to be even higher. The Cabriolet however does get quite the bump over standard PDK-equipped Turbo Cabriolets with an average price of $108,000 and a high of $177,000 for a sub-5,000 mile car sold a few months ago.

Porsche 997.2 GT3 Price Guide

With an increased engine size of 3.8 liters, the new 997.2 GT3 featured forged pistons, lightweight valves, and hollow camshafts in order to shed weight from its predecessor. The only transmission offered was a new 6-speed manual with shorter gear ratios and stability control was added as a driver aid. Visually the car featured a revised rear wing with ram air and a carbon Gurney flap, a new front bumper design, and rear-view mirrors.

The top of the regular-mileage 997.1 GT3 range appears to be the bottom for 997.2 GT3s with the lowest-priced example selling for $147,000 with 36,000 miles on the odometer. Top sale honors over the last 12 months go to a 2010 example with 13,000 miles at $205,000, even though it wasn’t the lowest mileage car to cross the block.

Porsche 997.2 GT3 RS Price Guide

In order to homologate its new car for GT3 racing, Porsche offered a new GT3 RS with higher performance thanks to a bump in engine power, lower weight, dynamic engine mounts, and shorter gear ratios to improve acceleration. 541 out of the 1,619 cars were slated for the US.

The RS variant of the 997.2 GT3 commands a similar price bump as the 997.1 counterparts with cars averaging a tad over $250,000. Sub-10,000-mile cars get another $100,000 bump as these were the last of the standard GT3 RS models offered with a 6-speed manual transmission.

Porsche 997.2 Sport Classic Price Guide

Inspired by Porsche’s 1973 911 Carrera RS, the 911 Sport Classic was a limited production (250 total units) variant of the 911 Carrera S coupe with a host of visual upgrades and a special Sport Classic Grey body color. The Sport Classic featured 1.7-inch wider rear fenders, a “double bubble” domed roof, special black 19-inch Fuchs wheels, and like the ‘73 2.7 RS before it, a ducktail rear spoiler. Mechanically the car had PCCB brakes as standard, a 0.8-inch lower PASM sports suspension, and a mechanical rear axle differential. The inside was a thing of beauty with Porsche Exclusive woven leather seats and door panels with Espresso Brown natural leather upholstery.

Sport Classics are a tough one to price not only because they were very limited in production, but also because they were never sold here in the US and they have changed hands only in the EU over the last twelve months. Delivery mileage examples tend to top $300,000 while the majority sell for around $275,000 with the floor being $260k.

Porsche 997.2 GT2 RS Price Guide

Conceived as a “skunk works” effort by Porsche Motorsports, the 997.2 GT2 RS was the fastest and most powerful 911 of its time with 612 bhp and a Nurburgring lap time of a hair over 7 minutes. Lighter and more powerful than the outgoing GT2, the RS runs different turbochargers along with new intercoolers, pistons, and engine management to propel the car to a 0-60mph time of 3.5 seconds and a top speed of 205 mph. On the outside, the RS received a new front splitter, rear diffuser, and an additional Gurney flap on the rear wing as well as carbon hood and side air inlets. The car was limited to only 500 production units worldwide.

As the last manual GT2, the 997.2 GT2 RS has seen a meteoric rise over the last year with the top sale being $777,000 for a delivery mileage example. The average price paid for a GT2 RS within the last 12 months was $685,000 with only one car falling below the $600k mark at $570,000.

Porsche 997.2 GTS & Carrera 4 GTS Price Guide

Slotted above the Carrera S but below the GT3, Porsche launched the GTS as a new mid-level variant of the 997 in 2010. Using the wide body of the Carrera 4, but offering a rear-wheel-drive variant, the GTS used an upgraded 3.8-liter engine with 402 bhp. The car came standard with center lock wheels and an Alcantara interior but other than that looked very similar to the other Carrera models.

The average price paid this past year for 6-speed GTS Coupes was $92,000, propped up by the sale of a 5,000-mile example at $119,000. The majority of cars however traded hands below $90,000 with a floor of $85,500 for a 76,000-mile example. PDK cars take a $10-15,000 hit while both 6-speed and PDK Cabriolets tend to trade at the $75,000 level as well.

Carrera 4 GTS models are few and far between with only one 37,000-mile manual Coupe selling for $87,000 and two PDK Coupes averaging about $10,000 lower. Not a single 6-speed or PDK Carrera 4 GTS Cabriolet sold in the past year here in the US but we would imagine the price drop to be in line with 2WD varieties.

Porsche 997.2 Speedster Price Guide

With only 356 units produced, the 997.2 Speedster was the third installment of Porsche’s cut-windscreen homage to the original 356 Speedster. The car had the same engine as the 997 GTS and was available in only Pure Blue and Carrera White although a handful of PTS cars were produced. Aside from the lower windscreen the car also featured a tonneau cover housing the soft top.

Although 997.2 Speedsters are rare, we did see five examples sold in the past 12 months with an average price of $340,000. All cars sold had less than 10,000 miles with top sale honors going to a 3,800-mile example hammering down for $368,000 at RM Sotheby’s Arizona sale this January.

Porsche 997.2 GT3 RS 4.0 Price guide

Considered by many to be Porsche’s crowning achievement, the 997 GT3 RS 4.0 was the final evolution of the 997 generation 911 and the last car to use Porsche’s famous racing-derived Mezger engine. Mechanically, the RS 4.0 shares its block, crank, and titanium rods with the 4-liter 911 GT3 R and GT3 RSR race cars. A road cylinder head and variable cam timing along with a catalyzed exhaust made the car more usable on the road but at home on the track. On the outside, the RS had a new carbon fiber wing with the front fenders and hood made of the same material. Up front, the updated bumper featured dive plates ahead of the front wheels to keep the nose down and balance out the huge rear wing. With only 158 of the 600 units produced coming state-side, the RS is highly valued as Porsche’s swan song for analog cars.

GT3 RS 4.0s saw a new record achieved with a rare black example selling for $885,000 with less than 2,000 miles on the clock. The remaining cars traded hands at an average of $735,000 although we’ve seen a slew of cars go unsold since the high sale five months ago.