A December To Remember

January 02, 2023

While $40 million sounds like a lot, it could have been a lot more as some of our higher-priced cars, particularly GT cars above the $200k mark took quite the hit last month. None more so than the 2018 GT2 RS’ as not a single unit out of the five on offer found a new home with an average bid of $371,115.

Delivery mileage 2022 GT3s continued to slide as only one car hit the $300,000 mark and those that sold inching closer to MRSP. They are still getting overs but the average sale price was $267,000 with a sell-through rate of 57%.

The Carrera GT market adjusted after a slew of no-sales over the past few months. All three cars offered found new homes with an average price of $1,393,333. MUCH lower than the close to $2m these were commanding earlier this year and last.

2016 Cayman GT4s are starting to look like a deal as 100% of cars offered sold as prices are heading down towards $80k. That is a lot of car for the money. 997 and 996 generation 911s continued to soften (and sell) as well with a number of cars looking quite appetizing.

Cars in the $100,000 had a sell-through rate of 69% with 993s all finding new homes and 2022 cars taking a hit with a 60% sell-through rate. The $50-100k bucket had a similar look with a sell-through rate of 67% and cars under $50k sold through at a rate of 74%.

Looking ahead to January we see prices continuing to soften. Flippers are going to be the big losers here and as long as sellers recognize the slide and set reserves where they should be, the sell-through rate should remain about the same. January kicks off the in-person auction season in Arizona so expect some special Porsches to drive our total sales volume up. We have an exciting month ahead of us for sure.