Porsche 993 Carrera 4S Price Update

Good Morning! Day two of auctions down here at Amelia Island is in the books. Yesterday we spent our time with Gooding & Co. and today, we say goodbye to RM Sotheby’s as this will be their last sale at Amelia Island.

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THE MARKET

Sell-Through Rate: 85%
Market Volume ($): $5,556,916
Market Volume (Units): 33

• Surprisingly, we haven’t had a $1m sale after two days into the Amelia Island sales. But thanks to a super strong sell-through rate and lot’s of high-ticket cars, our dollar volume was pretty high off of 33 units offered both online and in-person yesterday.

TOP SALES

1987 Kremer-Porsche 962 C $820,000 Gooding & Co.
1973 Porsche 911 RS 2.7 Touring $640,000 Gooding & Co.
1969 Porsche 911 T/R $420,000 Gooding & Co.
1995 Porsche 911 RS 3.8 Clubsport $380,000 Gooding & Co.
2004 Porsche 911 GT3 RS $330,000 Gooding & Co.

SPOTLIGHT

While we’ve seen quite a few low-mileage 993 Carrera 4S roll through over the last year, we haven’t seen an example with mileage this low. With only 12,800 miles on the odometer, this 1997 911 Carrera 4S is an exceptionally original and well-preserved example that held lofty expectations with a pre-sale estimate of $250-300,000. While we regularly see cars in the $150-200,000 range, only twice in the past five years have we touched the $250,000 territory.

This time last year the 28,000-mile extremely rare Blue Turquoise example from the Rudy “Mr. 993” Mancinas collection sold for $246,400 all-in. Prior to that sale the only other car in the neighborhood was a 1,200-mile example that sold on Collecting Cars in Danbury, CT for a record $270,000.

As I said earlier, we see plenty of cars in the $150-200k range, even with mileage similar to our Spotlight car. In June of 2021, we had this 1997 C4S with Aerokit with 15,000 miles sold for $182,000, and this past August, a very nice Glacier White car with 18,000 miles sold for $205,000.

To expect a car with only 3-5,000 miles less than the example above to add $50-100k to the sales price isn’t out of the question, but it takes a very rare color combo like Mr. 993’s car mentioned earlier. Our Spotlight car, while very tasteful, was a not-so-rare Grand Prix White over Cashmere and the only special option the car had was body-colored wheels. But this is Amelia Island and there is alcohol involved.

Unfortunately, it didn’t help as our C4S fell short of its reserve price at a final bid of $200,000. A fair price by all accounts, but not enough to take it home. I do think that the bidder wasn’t very far off from the reserve. Maybe another $10 or $20k would have done it. At that price, it would have been a good deal on both sides.

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