2005 Carrera GT

I’m sure you saw this Spotlight coming from a mile away, as it’s been a while since we had an update on the Carrera GT market, as not a single CGT has sold on an online auction platform in 2023. Two cars have been offered, though, the first on Cars & Bids in February that failed to sell at a high bid of $600,000 (it was a train wreck), and the second, a 10,000-mile car out of Canada that brought a high bid of $1,060,000 on Bring a Trailer.

Over the last twelve months, the market for Carrera GTs has been relatively flat following the peak in the market in early 2022. Average prices have hovered just over $1.2m, with quite a few cars selling around the million-dollar mark, something we haven’t seen since the summer of 2021.

The most significant difference in the market has been the quality of cars on offer. Early 2022 saw a lot of prime examples. Lots of interesting colors and super-low mileage cars hit the auctions, driving prices to a peak at $2.2m for a sub-200-mile example. This year, we’ve seen some high-mileage cars, painted cars, and some that could use some loving.

Our Spotlight car, this GT Silver over Dark Grey 2005 Carrera GT, falls into the “needs-loving” category. This one-owner example is one of two cars bought new by the same person, with one previously sold on PCARMARKET eighteen months ago for $1.6m. Unfortunately, the owner passed away this summer, forcing the sale of the second car by the estate.

In preparation for the sale, the selling dealer had a full pre-purchase inspection completed by Champion Porsche and laid it all out in the listing to be very transparent on the car’s condition. The sub-4,000-mile car has some scratches on the lower passenger side rocker panel and curb rash on the right rear wheel, and it is noted that the rear wing is inoperable. On the inside, the glovebox is broken, the passenger seat does not move, the umbrella door pockets are sticking, and a musty odor is present.

Oil leads were noted near the rear main seal, and the clutch was measured at 29.88mm. Some corrosion is present on the suspension, and the left rear shock shows signs of leakage, and the rear shocks have cracked bump stops. Overall, it was a rough and neglected car for only 3,904 miles.

Despite the less-than-stellar PPI, the car brought in $1,320,000. I’m unsure what the service bill would be to address all the above, but I know it won’t be cheap. Had this been a perfect example, it would have brought maybe $1.5. Maybe. Strong price for a rough example if you ask me.

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