A Soft-Window 911E On The Cheap

Good Morning! A little low on the dollar volume yesterday but only one car out of the 16 available really had the chance to break through the $100k mark and it did, handily. Not too shabby of a Monday, especially when you compare it to last week.

THE MARKET

Sell-Through Rate (STR): 81%
Market Volume ($): $765,055
Market Volume (Units): 16

TOP SALES

2023 Porsche 718 Spyder 000 Package 6sp $184,034 Bring a Trailer
1969 Porsche 911E Targa $89,600 Bonhams Cars
1979 Porsche 911 Turbo 935 Tribute $85,000 PCARMARKET
2013 Porsche 911 C2S Cab. $70,991 Bring a Trailer
2010 Porsche 911 C4S Coupe 6sp $55,500 Cars & Bids

SPOTLIGHT

Bonhams’ first auction since their rebrand to Bonhams | Cars in order to give separation to their motorcar’s unit from the MANY other auctions the house holds was a resounding success this weekend during the Greenwich Concours. All 88 cars found new homes with a dollar volume of $3.8m, but only two of them were Porsches.

One, this 1969 911E Targa, was featured in our New Listings section last week as one to watch due to the unusual nature of its top. Early in the car’s history, the factory-installed glass Targa rear window was replaced with a “Soft-Window” rear section. As Soft-Window cars are typically worth more in the market, I was interested in how this would affect the price.

Original Soft-Window 911E Targa’s are few and far between as most wore the glass counterpart. The only comps in the last five years were one example that sold for $204,000 in October of 2022 and another that failed to sell at a high bid of $135,000 six years ago. Glass window 911E Targa’s are much more plentiful and sell for just shy of $100k at the top end of the market and move down based on restoration age, matching numbers, and condition.

Our Spotlight car is finished in Bahama Yellow over Black and wears a six-year-old restoration and a non-number matching engine. It’s been an auction regular over the years first selling for $75,000 in September of 2015 and then $82,180 at Bonhams Paris sale earlier this year. No mention as to whether that sale fell through or if the buyer relisted the car, but this time it achieved a price of $89,600.

At a market-correct price for a glass windowed Targa, it appears that the Soft-Window conversion didn’t add much in the way of value to the sale. But if you’re a Soft-Top kind of person, it looks like it was a great chance to get that experience at a discount. Well-bought if that’s the case, I guess.

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