964 Carrera 4 Market Update

Good Morning! If you’re reading this email, you’ve probably had “I didn’t bid” remorse after seeing a car sell for less than you were thinking of bidding before. I’m still not sure why I didn’t push the bid button on a certain Turbo below. ALWAYS push the button!

Did someone forward you this email? Subscribe HERE for daily Porsche market updates.

THE MARKET

Sell-Through Rate: 71%
Market Volume ($): $1,326,076
Market Volume (Units): 21

• When there are this many $100k+ cars on the sold side of the day, you’re pretty much guaranteed a million-dollar day. Strong unit volume doesn’t hurt either.

TOP SALES

2022 Porsche 911 GT3 Touring $262,000 Bring a Trailer
1987 Porsche 911 Turbo Coupe M505 $210,000 Bring a Trailer
2018 Porsche 911 GT3 6sp $175,000 Bring a Trailer
1984 Porsche 911 Coupe $137,000 Bring a Trailer
1989 Porsche 911 C4 Coupe 5sp $112,500 Bring a Trailer

SPOTLIGHT

Porsche replaced the final “classic” model, the Carrera 3.2, in 1989 with the all-new 964 series car. Compared to the previous series, the 964 was 85% new with a 3.6-liter engine, substantially revised suspension, and a body with better aerodynamics.

Our Spotlight car is a 1989 911 Carrera 4 Coupe 5-speed finished in Guards Red over Black Leather and came optioned from the factory with a Blaupunkt Cassette-radio, Cruise control, Amplifier, and Sunroof. The selling dealer purchased the car in July of 2022 for $88,888 and went to work addressing the deficiencies that the car had at the time of that sale.

It is now presented beautifully having benefited from a full detail and paint correction. The rear spoiler ECU was rebuilt in November along with an engine rebuild and plenty of service to the tune of $31,000. With other reconditioning receipts, the sellers put an additional $38,800 into the car on top of their purchase price in order to be ready for this auction.

At No Reserve, the seller really let it all hang out and let the market determine what all of the work put into the car was worth. Looking at the market, high sales for 964 Carrera 4s have been in the $135k range with the low sale for similar mileage cars being the previous sale of this car. With the moving average being closer to $90k and the average price for this mileage at $110k, the seller was really rolling the dice with the No Reserve auction.

Unfortunately, it didn’t work out quite as they wanted as the car sold for $112,500, putting the seller in the red for about $20,000. Sometimes, you win and sometimes, you lose. Our buyer did the winning as they now have a perfect 48,000-mile 964 for less than it would cost to bring the car up to these standards. Well bought.

To read the FULL Stuttgart Market Letter, with Noteworthy Sales (and No Sales), New Listings, and a full rundown of every Porsche sold today, subscribe below.