Sub-$1m Carrera GT

With five examples on offer this month between this past week’s Mecum sale in Kissimmee and the Arizona sales later this month, we felt it was time for a Carrera GT update.

October and November had proven to be bad months for the last of the great analog Porsche supercars as each car offered in the US failed to meet reserve after reserve as the market appeared to deflate from the highs of the summer and past year. Seller expectations adjusted in December with a number of sales in the $1.2-1.3m range and a 2,000-mile example selling for $1.6m.

The past few days have seen the action at Mecum’s Kissimmee auction wind down with the final Star Cars crossing the block. Our first Carrera GT to be offered came on Friday. The Fayence Yellow example with 16,000 miles failed to sell at a high bid of $1,000,000. Although the miles were high, Fayence typically commands a premium compared to the standard GT Silver and Black cars with similar mileage.

Speaking of Black, yesterday’s Basalt Black example with 14,000 miles and a salvage title sold for $975,000. Yes, this is what an excellent example went for not too long ago but it shows what the current floor looks like to get behind the wheel of a CGT. But I don’t believe this will be the floor for long as I’d call it well sold due to the continued softening of the market on the horizon.

We’ll see how the remaining cars fare this month. RM Sotheby’s GT Silver and Bonham’s Basalt Black cars will cross the block on January 26th with the Guards Red example from Barrett-Jackson two days later. Expect to see bids in the $1.1-1.5 with the higher-mileage GT Silver car on the lower end and the Guards Red car on the higher end. Will they sell? Well, that depends on reserves. We’ll revisit it in a few weeks.

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