A Rare Homologation Special Bid Just Shy

Good Morning! I never thought I’d be disappointed in a Monday with almost $2m in sales, yet here we are, as this could have been a $4m weekday had a certain homologation special sold.

THE MARKET

Sell-Through Rate (STR): 72%
Market Volume ($): $1,968,969
Market Volume (Units): 25

TOP SALES

2019 Porsche 911 GT2 Weissach $403,500 Bring a Trailer
2019 Porsche 911 Speedster $382,000 Bring a Trailer
1992 Porsche 911 Carrera RS $250,000 Bring a Trailer
1958 356A Cab. $155,000 PCARMARKET
2002 Porsche 911 GT2 $134,000 Bring a Trailer

SPOTLIGHT

It’s not every day that a true Porsche homologation special comes up for auction, and when build numbers are less than 200 like the 993 GT2, it’s not even every few months. In fact, we’ve only seen 17 cars hit the auction block in the last eight years. That’s about 2 chances a year to take home one of the rarest air-cooled 911s in existence.

Porsche built the 993 GT2 to meet homologation requirements to run the 911 in the GT2 class of racing. In order to match the GT2 race cars, the road cars were equipped with wider plastic fenders and a large rear wing with integrated air scoops. The 3.6-liter Mezger engine was cranked up to 424 horsepower in standard trim and the car was considerably lighter than the standard 993 by more than 300kg.

Now out of roughly 172 GT2s, only 57 cars were made road legal. And out of those road-legal cars, about 20 were upgraded to Clubsport specification. The GT2 Clubsport came with more horsepower at 450, a welded roll cage, a fire suppression system, and Recaro seats with racing harnesses. And today’s Spotlight car just happens to be one such unicorn.

This 1996 911 GT2 Clubsport is finished in a custom-ordered Ferrari Yellow and is in impeccable condition as you would expect for a car with only 23,000km. The presentation of the car is spot on with over 180 photos showing every surface of the car, paint meter readings, and lots of service history. It went unsold however at a high bid of $1,605,000.

As you can imagine, with only ~20 units ever built, there aren’t very many comps to put this one up against. Last June we had a Clubsport go unsold over on Collecting Cars but no bid data. Prior to that, we had another one go unsold at CHF1,019,149 at RM Sotheby’s in September of 2021. The only sale in the last five years was a 39,000 km example sell for $1,105,000 at Bonhams in August of 2018.

Base models of the 993 GT2 have sold between $521,521 and $1.5m in the last five years making the high bid seem somewhat reasonable given the mileage and rarity of the Clubsport package. The car currently has a Buy Now of $2m over on PCARMARKET. One would think that the two parties would be happy halfway between at $1.8m. At least I would be if I were adding this to the collection.

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.