Willing To Take a $30k L On This Speedster?

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In other news, the market took a bit of a dive yesterday with a below-average sell-through rate and dollar volume. 📉 Ouch.

THE MARKET

Sell-Through Rate (STR): 65%
Market Volume ($): $671,666
Market Volume (Units): 17

TOP SALES

2010 Porsche 911 Turbo Coupe 6sp $130,000 Bring a Trailer
1961 Porsche 356B Cab. $120,000 PCARMARKET
1959 Porsche 356A Sunroof Coupe $101,169 Bring a Trailer
1971 Porsche 911T Coupe $92,000 Bring a Trailer
1978 Porsche 911SC Coupe $63,001 Bring a Trailer

SPOTLIGHT

Carrying on the tradition of Porsche’s past, the 991 joined the ranks of 356, G-Series, 964, 993, and 997 with its version of the low-roofline open-air Speedster. Debuting first as a concept at the 2018 Paris Motor Show and in final production guise at the 2019 New York Auto Show, the 991 Speedster deviated from the norm by fitting the GT3’s 4.0-liter engine out back and a 6-Speed manual gearbox. With only 1,948 produced and as the final edition of the 991, Speedsters became instant collectibles with most tucked away only to appear at auction from time to time.

Over the last twelve months, 991 Speedsters have held fairly steady with an average sales price of roughly $360,000 with a low of $325,000 for a White example with just over 3,000 miles and a high of $412,000 for a 292-mile example finished in a custom shade of Grey.

Today’s Spotlight car, this 2019 911 Speedster is finished in Guards Red over Black leather with Black wheels and has only 800 miles on the odometer. As you would expect the car is in impeccable condition and shows only One Owner on the CarFax… but how can that be, we’ve seen this car before. It sold in September of 2022 for $370,000, which was higher than other ~800-mile comps by about $15-40,000.

However, the auction ended yesterday with a high bid of $319,000. A far cry from the previous $370k. It appears though that the seller didn’t have completely unrealistic expectations as the car is now listed in PCARMARKET’s Deal Tank for $340,000, which is about in line with the previously mentioned comps. Still, that would be a $30k+ loss for the seller on what many consider an investment-grade Porsche. What’s that tell us about the market?

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