A Cayman As Rare As Hen's Teeth

Good Morning! It looks like the market sprung back yesterday thanks to one special Porsche accounting for 1/3 of the day’s dollar volume. We’ll see if the strength continues through the weekend as we have a Carrera GT ending tomorrow that could provide quite the boost.

THE MARKET

Sell-Through Rate (STR): 77%
Market Volume ($): $1,509,732
Market Volume (Units): 22

TOP SALES

2019 Porsche 911 GT2 RS $585,000 PCARMARKET
2018 Porsche 911 GT3 Touring 6sp $229,000 Bring a Trailer
2016 Porsche Cayman GT4 $118,100 Bring a Trailer
1972 Porsche 911T Coupe $96,501 Bring a Trailer
2014 Porsche 911 Turbo S Coupe $76,000 Bring a Trailer

SPOTLIGHT

The 718 Cayman and Boxster T were released in 2020 as a sportier version of the base 718 models after the success of Porsche’s 911 Carrera T. With standard options such as a Sport Suspension, Sport Chrono package, a limited-slip differential, GT4 short shifter and more, the T was much more performance-oriented and looked the part as well with T decals and 20” Carrera S wheels in a special Titanium Grey.

But what’s most interesting about this car is the number produced. If you recall last week when first featured this car in the New Listings section, I reckoned this is the first Cayman T I’d seen cross the auction block since starting this newsletter, and I was right. We haven’t seen a Cayman T since September of last year and before that, the only other comp was back in February of 2022.

That would be because Porsche only produced a total of 100 Cayman Ts in 2020 and 2021, and not because it was a limited model. It seems the T take rate was way below the hundreds of Base, S, and GT4s Porsche produced during the same period.

I’d attribute the low production numbers to two reasons: First, the price of the Cayman T with a few options wasn’t much less than a Cayman S and you could add the majority of performance mods on the T to an S. Second, the Base Cayman was offered in a manual transmission as well.

That being said it was hard to put a price on this one with only two comps. That first sale back in February of last year was a 5,000-mile example that sold for $68,718 and the other most recent sale was a 4,700-mile example that sold for $70,000.

Our Spotlight car, a Carrera White Metallic example with 28,000 miles is optioned with a PDK transmission, Premium Package, and Ventilated Seats. Not really what a T is all about. It sold for $55,623 yesterday on Cars & Bids, about $5,000 more than what a Base Cayman would sell for and slightly less than what an S with similar mileage would sell for.

At this price, I would probably have gone for an S with options myself. Well sold if you ask me.

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