Half Price 997 Turbo Cabriolet

Good Morning! Well, yesterday’s results were a little bit better than we’ve seen so far this week as our sell-through rate climbed to 63% and our dollar volume cracked $750k. Still, we’re 10% shy of our average STR. Maybe today will be our lucky day.

THE MARKET

Sell-Through Rate (STR): 63%
Market Volume ($): $753,470
Market Volume (Units): 19

TOP SALES

2011 Porsche 911 Turbo S Coupe $128,000 Bring a Trailer
2021 Porsche Taycan Turbo $122,000 Cars & Bids
1991 Porsche 911 C4 Coupe 5sp $86,500 Bring a Trailer
1959 Porsche 356A Speedster Conversion $85,000 Bring a Trailer
2012 Porsche Boxster Spyder 6sp $69,987 Bring a Trailer

SPOTLIGHT

Upon its debut at the 2009 Frankfurt Motor Show, Porsche’s second-generation 997 Turbo featured many firsts for the series. The 997.2 marked the first time the Turbo was offered with PDK and featured a brand-new 3.8-liter engine producing 493 bhp.

Because the new PDK system was well suited for the Turbo’s power, the take-rate for 6-Speed manual transmissions was low, which means nowadays 6-Speed 997.2 Turbos command a premium in the market. While your average 6-Speed 997.2 Turbo Cabriolet sells for over $100k, your average 997.2 Turbo Cabriolet equipped with the PDK transmission sells for less than $100k.

But occasionally, one car stands out above the rest, commanding a high market price. Such was the case with a 2,800-mile example that sold for $121,251 back in April of 2021. And that particular 2012 911 Turbo Cabriolet just so happens to be our Spotlight car today.

Finished in Basalt Black Metallic over Black leather, this Turbo Cabriolet is nicely equipped with the optional LSD, PDK, Sport Chrono Package, and about $4,000 in Exclusive Options. Since their purchase in 2021, the second owner has only put about 6,000 miles on the car. Unfortunately, during those 6,000 miles, they also managed to total it.

The front-end damage sustained in the July of 2022 accident was enough to issue a salvage title for the car. The seller states that there is no frame or unibody damage on the vehicle and does a fairly good job of providing photographic documentation of the damage as well as the repairs. They also included a 3rd party report and lots of pictures of the undercarriage.

Despite the documentation of repairs, at the end of the day a salvage title Porsche is a salvage title Porsche and should be priced accordingly. And that price? $69,000. Had this car had a clean title and no damage, I think we could have seen a hair over $100k. But now a car that was once our five-year market high is now a five-year market low.

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