RM Sotheby’s Amelia Island auction plays a very significant role in the second-hand Porsche market, particularly with collector-grade models. It is the “go-to” auction for “unicorn” cars, with some examples being Porsches coming from Jerry Seinfeld’s collection back in 2016, which included a genuine 550 Spyder, or The 964 Collection in 2018, comprised of uniquely specified 964 models, both common and rare. This is the auction that helps with defining the prices of such models, and this year saw models setting new price points and others simply selling at current market value. In total, 16 Porsches were present at the auction, and the list can be seen here. Now, there were a couple of interesting cars in this list, which I wanted to discuss, and that included both 911s and other models not commonly seen in the public second-hand market.

1.1992 968 Coupe – Sold For $64,400

The last of the transaxle Porsches, the 968 took a huge leap forward development-wise over its predecessor the 944, utilizing many of the advancements seen in the Porsches of the 90s. Produced between 1991 and 1995, a total of 4,665 cars were produced for the North American market, of which 2,234 cars were coupes. Despite the low production figures, these cars are not difficult to find at all. This example, however, is different. Finished in Amethyst Metallic over a two-tone light-grey and magenta interior, this example is very reflective of the very colourful 1990s, which adds to its collectability. Seen as an essential in this car, the manual transmission is a must in order to get the most out of the four-cylinder engine, as the automatic transmission at the time was the Tiptronic unit which only made the car more cruiser-friendly. To top it off, this car has only 8,189 miles, making it possible the lowest mileage 968 Coupe in North America, if not the world. With higher mileage cars trading at around the $20-30K range with more resale-friendly colour combinations, it is no surprise that this car sold for a price that is significantly higher. That being said, the car’s final sale price still falls below 968 Clubsport prices.

2.2006 997 Carrera S Club Coupe – Sold For $89,600

This is a model not many people have heard of. To celebrate the 50th anniversary of the Porsche Club Of America in 2006, Porsche produced 50 commemorative 997 Carrera S cars and sold them exclusively to members of the club. All 50 cars were finished in the exclusive Azzurro California exterior over two-tone Black/Stone Grey interior, and were equipped with the 6-speed manual transmission and X51 Powerkit, which bumps the horsepower from 355hp to 381hp. Whether or not it is a collectible model is up to buyers to decide; I see it as a Carrera S X51 with an appearance package, no more than that. That being said, it is not a car that you see for sale everyday, yet, they are found to have low mileage when they do pop up on the second-hand market. Its sale price is quite striking, as it is in the price point of the best 997 Turbos on the market, which I think I’d prefer instead.

3.1989 911 Speedster – Sold For $184,000

It was the G-Model 911 that gave us the first of the Speedster models as we know them today(note, however, that the 356 was the first to use the nomenclature), and like modern iterations, it was produced in limited numbers with only 823 cars being sold in the US market in 1989, the only model year that this car was produced for. Though they are found for sale with ease, this example was ordered via the Sunderwunsch(Special Wishes) program. Finished in Ruby Red exterior over a Sandstone interior, it has only covered 5074 miles. Interestingly, I was not aware that European Delivery was an option back in the air-cooled days, as this car still carries the plates from its time in the continent. It only adds to the car’s originality. With regards to its final sale price, the winner of the lot got this car at a bargain price, as non-Special Wishes examples with similar mileage if now more selling over the $200K mark.

4.1987 959 Komfort – Sold For $1,050,000

When it comes to the 959, buyers are always seeking the examples that remain untouched from the factory. To comply with California state regulations, Bruce Canepa modified these cars with mechanical upgrades to the engine, ridding the cars of its “100% original” status. It is only in recent years that these modifications have become a deal breaker for buyers, given that these cars are now importable into the US and Canada without issue. Having only 5,822 miles since new, this car, like most 959s, was likely stored in a garage and not driven much. With this car selling just below average prices of stock cars, it shows how the modifications devalue this car.

5.2004 Carrera GT – Sold For $786,000

Another car sold for a bargain price. Carrera GT prices have been ranging in between the $700-900K range depending on year, mileage, and colour combination. The ’04 model year cars are the lowest priced cars due to the fact that the clutch on them wear faster than the ’05 and ’06 model year examples. This car, with only 766 miles is one of the lowest mileage cars on the market. With higher mileage cars being sold for not much less than what this one sold for, it can be said that it was a good buy for the new owner.

6.1992 964 Carrera RS – Sold For $300,000

Importation eligibility into the United States has caused renowned interest in the 964 Carrera RS, one of several track-focused 911 models that we did not see new in western shores. What is different with these cars is that they are either garage queens or drivers. This particular example falls under the former category, with 10,887 kms. Delivered new in Germany, its original owner contributed to much of the cars use, properly maintaining it in the process. It was then imported to the US in 2017, where it has been in the collection of a consignor. At $300,000, it is priced at the same price point of cars with higher kms.

7.1987 944 Turbo – Sold For $78,400

Asides from several models, the transaxle Porsche models are one of the cheapest options to enter Porsche ownership, more particularly the 924 and 944 models. That being said, however, the lowest priced cars seen for sale are often high-mileage examples that would require some work in order to get running reliably again. Examples which are ready to drive, on the other hand, normally sell at a much higher price point, which is usually the $20-30K range, as it the case with the 968. This car is a Turbo model, which is not only desirable but is also one of the cars which are often found in pristine condition. The spec on this car is solid, having a Guards Red exterior with Black interior. What is different from this example compared to other 944s out there is its mileage, 1,620 miles, and it shows through its extremely clean interior. It is likely the lowest mileage 944 in the world. The final sale price is evident of the car’s “showroom” condition, though for that kind of money you are able to get into several Porsches both new and old, which include newer 911s.

In all, while not as exciting as the previous years, Amelia Island brought us yet again some cars that we never thought existed. Sure, some of the cars sold at market value, but a lot of them sold well below that. It is likely the result of less bidders being present in the bidding rooms. That being said, this auction helped give definition to the transaxle Porsche market which has been dormant for a number of years now. It proved that even those cars can sell at a premium.

Best Regards,
Juan Reyes-Abreu

Credit Goes To:
RM Sotheby’s for the information and photographs of the car.