For top-end Porsche mar­ket val­ues, look no fur­ther than the likes of RM Sotheby’s, Good­ing & Com­pany and Bon­hams’ sales results. For ‘real world,’ though, check out the results from Sil­ver­stone Auc­tions’ Porsche only sale in part­ner­ship with PCGB

911 Porsche World - - Market Forces -

If you want to know what the very top clas­sic Porsches are sell­ing for, and whether their val­ues are con­tin­u­ing to rise or are falling back, the high pro­file in­ter­na­tional auc­tions run mainly by RM Sotheby’s, Good­ing & Com­pany and Bon­hams will sup­ply that in­for­ma­tion. Not too many of the Porsches at these sales now go for much un­der six fig­ures, and a few hit seven, so to take the pulse of the “real world” mar­ket you need to look lo­cally, and for the past three years Sil­ver­stone Auc­tions in part­ner­ship with Porsche Club Great Bri­tain has staged an au­tumn sale al­low­ing us to do just that.

The Porsche 2017 sale, held in late Oc­to­ber at Sil­ver­stone Cir­cuit in Northamp­ton­shire saw 58 Porsches of­fered, the old­est a 1962 356B Su­per 90 Cabri­o­let sell­ing for £163,125 (in­clud­ing buyer’s pre­mium, but not the VAT on the pre­mium) and the new­est a 2007 997-model 911 GT3RS mak­ing £100,333. The cheap­est Porsche sold was a 1991 two-owner 944 S2 from en­tered with no re­serve and fetch­ing £9225, while among the parts for sale, a 1970s 911 off­side front wing ‘in de­cent con­di­tion’ sold for £96, and a set of four 6Jx15-inch five-spoke Fuchs al­loy wheels from 1975 col­lected £1800.

The most ex­pen­sive car was a 1998 993-model 911 Turbo S in right-hand­drive, whose £253,125 price would have seen this rare car – just 26 were built in RHD – sit com­fort­ably in an in­ter­na­tional auc­tion at Amelia Is­land or Peb­ble Beach. The price was nearly £32,000 un­der its pre-sale up­per es­ti­mate, but Sil­ver­stone Auc­tions said, ‘The on­line and phone bid­ders were squeezed out early on in the bat­tle by a heated two-way bat­tle in the room’. The sale’s most un­usual lot had to be the 1962 Stan­dard J Trac­tor, pur­chased for £15,525, and per­haps the most eye­open­ing re­sult was the £219,375 paid for the 1992, UK spec 964 RS in Tour­ing form.

Cars that didn’t reach their re­serve and thus did not find new own­ers on the day in­cluded a 2003 911 Car­rera Tip­tronic (man­ual 996s are al­ways more cov­eted), three 928s, two 993 Cabri­o­lets, a 1970 911T equipped for clas­sic rally events, a 2000 911 GT3 in Club­sport trim and a 2002 911 GT2. No­tably, four out of the six 930-model 911 Tur­bos of­fered failed to sell, in­clud­ing a 1985 car with a £180,000–£220,000 es­ti­mate bought new by Glenn Tip­ton, lead gui­tarist with Ju­das Pri­est, and with just 14,100 miles from new, and which might have been bet­ter en­tered in an in­ter­na­tional sale. The ob­vi­ous con­clu­sion is that sellers’ ex­pec­ta­tions of this Porsche, which has shot up in value over sev­eral years, may now be un­re­al­is­tic. The 930s that did sell were a 1988 `Cabri­o­let with just 24,000 miles, mak­ing £92,813, and a 1980 coupe for £81,000.

Un­sur­pris­ingly, the most af­ford­able cars in the sale were the four-cylin­der cars, 924s and 944s. But with an av­er­age sale price of £19,800 (al­beit hauled up by the £32,775 a 29,000-mile 1991 Turbo Cabri­o­let re­alised), the 944, and par­tic­u­larly the Turbo is clearly no longer the throw­away Porsche. The 924, the orig­i­nal 1970s “transaxle” Porsche has also found its feet, a last-of-the-line 924S from 1987 go­ing un­der the ham­mer at £26,100 – al­though with it be­ing in ex­cep­tional con­di­tion and its sole, lady owner cov­er­ing just 6600 miles in her 27-year own­er­ship, some might have ex­pected a higher price. One of the 75 ex­am­ples of the 1981 924 Car­rera GT made £37,688.

From the air-cooled 911 era, a trio of 911SCS sold for be­tween £34,313 and £60,750, while the av­er­age sale price for that model’s suc­ces­sor, the 911 Car­rera 3.2, was £53,625. In­ter­est­ingly, the in­ex­orable rise of the Car­rera 3.2 has to some ex­tent re­de­fined one model that back in the day was not well re­garded, the Su­per Sport Equip­ment model, with the Turbo’s wide body and up­rated brakes, but re­tain­ing the stan­dard Car­rera 3.2 en­gine. Thirty years ago it may have been re­ferred to as Porsche’s “sheep in wolf’s cloth­ing”, but that per­cep­tion is clearly history now, as the £103,500 paid for the 1988 20,000-mile ex­am­ple at­tested; the same model from 1989, with 35,000 miles and ob­vi­ously not quite so fresh, made £73,125.

The broad opin­ion is that the 911SC and Car­rera 3.2 marked steps for­wards in 911 us­abil­ity, but pre­ced­ing, pre1974 mod­els have over­taken them in value, if Sil­ver­stone Auc­tions’ sale was an ac­cu­rate lit­mus test. The eight “early 911” cars sold av­er­aged £66,946, the cheap­est a 1971, base-model 911T, the left-hand drive Cal­i­for­nia-spec car go­ing for £42,750, and the high­est priced a short-wheel­base match­ing numbers 1968 911 in pris­tine con­di­tion and with the op­tional five-speed gear­box and 15-inch Fuchs al­loys, mak­ing £92,250.

“Re­cre­ations” of famous Porsches can be auc­tion night­mares that re­main un­sold when you mix the near im­pos­si­bil­ity of valu­ing a one-off car to­gether with a seller’s of­ten over op­ti­mistic sense of its worth, but the F1 cir­cuit event saw two such cars find buy­ers, and at semis­e­ri­ous money. The Spe­cial Edi­tions Inc-built “1955 Porsche Cha­monix 550 Spy­der”, a replica of the 550 Spy­der that was a fac­tory racer in the 1950s but was promi­nently lodged in mo­tor­ing and celebrity history when actor James Dean fa­tally crashed in one in Cal­i­for­nia in 1955 sold for £43,875, while a 1984 Car­rera 3.2 mod­i­fied to look like the iconic 1973 Car­rera 2.7RS, and with care­fully re­built en­gine and sus­pen­sion, made £60,750.

The sale, at­tended by over 300 Porsche Club GB mem­bers, was over in just three hours, cars despatched in an av­er­age of three min­utes, and more than £2.5 mil­lion flow­ing through the auc­tion­eer’s bank ac­count. With 86 per cent of the lots sold, Nick Whale, man­ag­ing di­rec­tor of Sil­ver­stone Auc­tions said, ‘It was a re­mark­ably suc­cess­ful auc­tion, helped enor­mously by the qual­ity of the cars on of­fer,’ and de­scribed the cars for sale as a fan­tas­tic cat­a­logue of stun­ning Porsches.’ It seemed a not un­rea­son­able claim.

Cha­monix 550 Spy­der rep made £43,875 at Sil­ver­stone’s all Porsche sale

1962 Porsche 'Stan­dard J' Trac­tor, £15,525 1962 Porsche 356B 'Su­per 90' Cabri­o­let, £163,125 1988 Porsche 911 (930) Turbo Con­vert­ible, £92,813 1988 Porsche 911 Su­pers­port Targa, £103,500 1992 Porsche 944 Turbo Cabri­o­let, £32,775 High­est price, 1998 Porsche

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