$50k Short On This 996 GT3

Good Morning! We had a great day in Atlanta celebrating the 75th Anniversary of Porsche yesterday and meeting so many Stuttgart Market Letter readers. Chatting in person with all of you really made my day! Now let’s see what the market has in store for these special cars today. Should be exciting!

THE MARKET

Sell-Through Rate (STR): 63%
Market Volume ($): $1,763,163
Market Volume (Units): 30

TOP SALES

2000 Porsche 911 GT3 R $302,050 RM Sotheby’s
2022 Porsche 911 GT3 Touring 6sp $278,000 Bring a Trailer
1996 Porsche 911 Turbo $257,000 Bring a Trailer
2020 Porsche 718 Cayman GT4 Clubsport MR $240,000 Bring a Trailer
2022 Porsche 718 Cayman GT4 $125,000 Bring a Trailer

SPOTLIGHT

As the first GT3 available in North America, the 996.2 GT3 has had quite some interest over the past few years as enthusiasts soften on the fried-egg headlights and realize that the 996.2 GT3 is such an amazing analog sports car.

With this realization have come higher prices of course with the market taking an upward turn in May of 2021 as prior to then, we rarely saw a 996.2 GT3 sell for over $100k and afterward, well we’ve seen a bunch. The mileage cliff when we see cars drop below $100k seems to be just shy of the 40,000-mile mark.

But this 2005 911 GT3 doesn’t have anywhere close to that as it has only 8,300 miles on the odometer. Finished in Arctic Silver Metallic over Black, it features options such as bi-xenon headlamps, custom-tailored interior, a thicker steering wheel, and a Porsche Classic Communication System.

The car shows well with very minimal wear, recent service history, and paint meter readings showing a paint-free body. It is noted that the rear main seal is starting to show some seepage. Other than that, excellent example of a GT icon.

Despite the low mileage and great presentation, our Spotlight car failed to sell at a bid of $124,996. Recent comps put this one about $50,000 shy of where it should be, so was this a reaction to the seepage? I wouldn’t be concerned as this is easily addressed and MUCH less than $50k to take care of. I would have held on to this one too if I were the seller as I don’t see the 996 GT3 market slowing, just didn’t have the bids today.

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