Silverstone Auctions Porsche Sale

[Cheib]

Just watched this afternoon’s Porsche sale....loads of cars didn’t sell but a few lots I thought were interesting. Most cars were bid to about 10 or 20% below low estimate and didn’t sell.

997.2 Turbo S High Bid £62k didn’t sell. https://www.silverstoneauctions.com/events/2019-au...

Cayman GT4 sold for £58k (+15% premium) https://www.silverstoneauctions.com/events/2019-au...

997 GT2 sold for £95k !!! (+15% premium) estimate £135k-£155k...think it was up at JZM for £160k a month ago. No reserve. https://www.silverstoneauctions.com/events/2019-au...

Carrera 3.2 Clubsport sold for £100k. Estimate £120k to £140k. No reserve. https://www.silverstoneauctions.com/events/2019-au...

[PSB1]

I like this....... https://www.silverstoneauctions.com/events/2019-au...

[Crazy4557]

Looking at the results it appears to corroborate the stories of falling prices and demand we are hearing about on a daily basis.
A lot of cars failed to sell and will no doubt languish around over the winter hoping for improved sentiment in 2020.

[Gixxerdave]

I was there today.
Hardly anything got to the guide prices in either the Ferrari or Porsche auctions !!
Definitely a buyers market at the moment , there appeared to be some good bargains today.
Some of the 70’s and 80’s stuff in particular.
The ruby red Turbo S was a surprise non seller , that looked lovely.
The GT4 looked cheap even with the 15% buyers premium , although no 2 year Porsche warranty and the “wrong” seats ( comfort ) !!
I’m guessing there will be a lot of disappointed vendors tonight.

There were some lovely Porsches on display in the “ Porsche car park “ as usual .

There were 3 of us in 981 Spyders ( having told my wife countless times how rare they were ) !!

[Gixxerdave]

Forgot about the GT2 , that was probably , in my opinion the buy of the day!!

[ianwayne]

The 997.2 Turbo S is now showing as sold for £72k so a bit of horse trading afterwards it seems:

https://www.silverstoneauctions.com/events/2019-au...

Considering their commission charges (15%), that's steep, total cost = £82,800!

[Cheib]

ianwayne said:

The 997.2 Turbo S is now showing as sold for £72k so a bit of horse trading afterwards it seems:

https://www.silverstoneauctions.com/events/2019-au...

Considering their commission charges (15%), that's steep, total cost = £82,800!

I think if a deal is done post event the auction house will cut its commission to get the deal done. They’re better doing that than losing a deal entirely. Even so the seller will have netted well below £70k.

I think what’s perhaps telling is that nobody in the GT2. If that’s any indication of the trade appetite to buy cars it’s eye opening !

Edited by Cheib on Saturday 21st September 20:03

[Wilmslowboy]

ianwayne said:

The 997.2 Turbo S is now showing as sold for £72k so a bit of horse trading afterwards it seems:

https://www.silverstoneauctions.com/events/2019-au...

Considering their commission charges (15%), that's steep, total cost = £82,800!

Showing as sold for £72k, where they normally show inc fees price.

I wonder if the auction house and seller did a deal, £72k price, is actually a little less than £62k highest bid plus fees.

[fridaypassion]

Just logged onto the silverstone site to have a look at the sold prices it looks like they are saving someones blushes as the GT2/Clubsport 911 and another couple are showing as withdrawn when they actually sold well short of reserve. Tough times out there at the moment.

[EGTE]

Had to happen some time. Bubbles always burst.

[1WEL]

There was an 08/58reg GT2 at BCA earlier in the week 14,000 miles in silver with leather Recaro's. Bids went to £99,000 (not sold).

[Cheib]

fridaypassion said:

Just logged onto the silverstone site to have a look at the sold prices it looks like they are saving someones blushes as the GT2/Clubsport 911 and another couple are showing as withdrawn when they actually sold well short of reserve. Tough times out there at the moment.

iPhone App called Hammer Price has the auction on it....shows high bid for lots unsold etc and links to auctioneers website. They can’t delete that!

Wonder if they deleted because they were hideously embarrassed or their mates in the trade asked them too.....

[Porsche911R]

EGTE said:

Had to happen some time. Bubbles always burst.

Not sure it’s a burst bubble other wise the older gt cars would crash.

Just looks like a over correction due to the high amount of cars now available and less and less buyers as people all have a nice car who want one.

[aka_kerrly]

The 968 Sport at £9k was a keen price for what seems a straight car with some history, what are the odds of that car being straight back up for sale for nearer £20K??

[IMI A]

Porsche911R said:

EGTE said:

Had to happen some time. Bubbles always burst.

Not sure it’s a burst bubble other wise the older gt cars would crash.

Just looks like a over correction due to the high amount of cars now available and less and less buyers as people all have a nice car who want one.

Agree GT2 and 3.2 Carrera CS do not seem bargains at all to me. Overpriced previously in the trade and have still made what I think is retail money.

[1WEL]

Cheib said:

iPhone App called Hammer Price has the auction on it....shows high bid for lots unsold etc and links to auctioneers website. They can’t delete that!

What a great app

[fridaypassion]

Brexit jitters. I wouldn't confuse that with a crash. Im seeing it bigtime in the stuff I sell. We are still in a era of virtually free finance so we just need that confidence to return. We saw a huge uplift in demand after the Brexit deadline got shifted in March. Now its quiet as its on the agenda again. Fully expect things to bounce back strongly when we see the back of this bit of the process. The only slight danger for cars is that property starts looking more attractive.

[LarJammer]

So what did the GT2 & 911CS sell for?

[Wilmslowboy]

LarJammer said:

So what did the GT2 & 911CS sell for?

See below, both are before fee prices (as suggested above the inc fee prices have been scrubbed from the site)

[LarJammer]

Thanks Wilmslowboy. Both are relatively cheap but not outrageous bargains - if anything, I think those sorts of prices will encourage more buyers into the market.

BTW - your phone need charging.