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RM Atlanta 70th Anniversary Auction Part II

 

 

CBA Previews RM’s Porsche 70th Anniversary Auction

Porsche Experience Center Atlanta

This is Part II of our auction preview for water cooled models from 2004 to date. Part I can be read at this link.

 

This auction is a single marque event being held in collaboration with Porsche on the heels of the official U.S. 70th anniversary celebrations which took place as part of Porsche Rennsport Reunion VI at Laguna Seca. The examples on offer appear to feature a tie in to the VRS/Exclusive/Classic departments whenever possible. RM limited the Lots to only one example of each model which was smart for several reasons. And estimate ranges for the most part seem a little more in line with reality than auctions of the recent past – which may have something to do in this instance with there being no other auction houses to compete with for seller inventory.

Although there seems reasonable interest in this one-off event auction – it’s being held right on the heels of Pebble and Rennsport Reunion. Coming so soon after those prior events it makes one question whether buyers (or enthusiasts) will bother to be there? Questions of buyer exhaustion and real interest levels are quite valid.

And immediate exhaustion may not be where it ends. Going forward this may be an issue for auction houses in general. At the high end RM is leading the pack in expanding auction counts (Pebble Beach, Battersea London, this one-off auction, Petersen Automotive Museum Collection December 8, Arizona Biltmore January 17-18 2019, Paris February 6 2019, Amelia Island March 9 2019, Ft. Lauderdale March 29-30 2019, Essen April 11, 2019 and Villa Erba May 25, 2019). With so many auctions coming, if this auction is too hyped up buyers may hold out for better opportunities down the road. Or they may simply be full already – looking for price bargains only. These factors makes it even more difficult to forecast results.



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Water Cooled 2004 and Newer Preview

Lot 183 – 2011 Porsche 997 GT3 RS 4.0 – 5,471 M – Black/Black – estimate $800k – $1m – No Reserve.

PORS9 database of North American GT, Turbo and Limited Edition Porsches we came across this car with VIN 6000. What was odd was that the next closest and next-to-last VIN for a North American RS 4.0 was #5719. So we did some digging and discovered the owner’s ID – Jerry Seinfeld. That was in early 2017. Earlier this year we tried to get the car for its current owner, that unfortunately didn’t happen … but in a very roundabout way he was ultimately able to acquire it. Now it has the opportunity to move to a new owner.

For North America this example features the most DZ* options, but it’s not the most highly optioned example (that claim belongs to this car.) It did have the highest MSRP for North America. Unique is its exposed carbon fiber hood (instead of body color paint), Alcantara interior, carbon rear spoiler wing and side mirrors and its underhood signed by Preuninger and Mezger. It is most certainly one of the most unique RS 4.0’s built worldwide.

So how much value add should this car get for its build spec and the cache of who it was built for? It’s not super low mileage and it is not being sold directly by Seinfeld. Apples to apples without these factors it might be a $450k hammer as it’s a nice ‘one owner’ car. So say we add $125k for uniqueness of spec and high MSRP plus $125k for the Seinfeld ‘premium’ … and it’s still well off low estimate.

But then again with that Seinfeld wildcard in play anything can happen … maybe if there is some real excitement around its uniqueness there will be a run up to a $700k hammer.

View this car’s build spec here.



Lot 185 – 2015 918 Spyder Base – 255 M – Liquid Metal Chrome Blue/Onyx Black/Acid Green – estimate $1.4m – $1.6m – Reserve.

There are plenty of 918’s for sale (and more to come as we forecasted in our Scottsdale 2018/NY Icons 2017 auction preview/recap). Prices are down no matter what is advertised and recent auction results have demonstrated overly optimistic estimates. Most 918’s at dealers are on consignment so the inventory carrying cost is on the owners … until that pressure starts causing cracks, asking prices may remain stable but the cars will mostly stay on the floor. Asking is certainly not where they trade when they do trade.

We can confirm that this example is the highest MSRP of any North American Base 918 at $1,025,900. Special paint, CXX options and lot’s of carbon fiber in and out do add up. Per the PORS9 Search App it is 1 of 4 Base models in this exterior/Interior color combination and 1 of 1 in this color combination with the 918 Spyder Platinum Satin wheels. If fact it is the only North American 918 Base or Weissach with the combination of those three characteristics – something not noted in the auction listing. This is a very nice example without being over the top.

A $1.45m hammer is achievable.

View this car’s build spec here.



Lot 186 – 2011 Porsche 911 GT3 RS 3.8 – 3,625 M – Carrara White/Black – estimate $175k – $200k – No Reserve.

Interestingly, per the PORS9 Search App, it is 1 of 2 for North America in Carrara White with Red contrast, Black leather seats, PCCB’s and front axle lift. These are great cars shadowed by the RS 4.0.

This one should hammer at $190k given the current market.

View this car’s build spec here.



Have you seen our ‘Porsche Dealer Inventory Weekly’ blog?



Lot 195 – 2016 991 Porsche GT3 RS – 68 M – PTS Azure Blue/Black – estimate $175k – $225k – No Reserve.

It seems de rigueur to have a 2016 GT3 RS at every auction these days. Although this one is PTS Azure Blue which is different. However low miles is not uncommon. It’s well optioned with an MSRP of $223,970 which is well above average. But at Porsche franchise dealers alone there over 100 2016 GT3 RS for sale at the moment (according our latest Porsche Dealer Inventory Weekly post).

No reserve seems like a bargain might be at hand … but this one will pick up at $195k hammer (note that this car was for sale elsewhere back in July).

View this car’s build spec here.



Lot 199 – 2011 997 GT2 RS – 894 M – Guards Red/Black – estimate $700k – $800k – No Reserve.

According to the PORS9 Search App we can confirm as claimed in the auction listing that it is 1 of 33 (US delivery examples +1 for Canada) with carbon fiber front fenders and extended carbon package options and 1 of 1 (US delivery) in Guards Red with those options plus Black Wheels and Full Black Leather interior. So a very nice spec indeed. But the estimate range is simply too high given recent 997 GT2 RS price performance (or even historical price performance).

A $625k hammer would put this at the very very top of the real money market.

View this car’s build spec here.



Lot 207 – 2004 Carrera GT – 1,525 M – Seal Grey Metallic/Dark Grey – estimate $650k – $750k – Reserve.

Prices of Carrera GT’s have surprised us lately. Even at auction as we reported in our Pebble Beach 2018 recap. But with that comes more inventory piling on. Our PORS9 Monthly New to Market Count table shows 19 CGT’s newly added to the existing ‘for sale’ inventory in September alone. Combine that with what was already out there and that is a lot of CGT inventory on the market. If most of the miles on this car were put on at time of its tourist delivery it might be in need of substantial deferred (engine out) maintenance – add $25k to $40k to the cost depending upon what’s needed. Nothing special to report in the options department.

Given market and other considerations a $690k hammer is not out of the question.

View this car’s build spec here.



Lot 211 – 2008 997 GT2 – 2,800 M – Speed Yellow/Black – estimate $260k – $300k – Reserve.

The 997 GT2 is still probably one of the better values from the 997 era – even though current asking prices for 997 GT2’s don’t make a lot of sense given historical comps. This one is reasonably low miles and nice looking in Speed Yellow with Black wheels, deviated stitching and cool interior paint to match bits. Unfortunately, a roll cage was installed in it at some point (which should have been removed pre-auction).

That said, these cars have room to grow and this one might very well sell at a $275k hammer … or more.

View this car’s build spec here.



Lot 213 – 2007 997 GT3 RS – 600 M – RS Orange/Black – estimate $260k – $300k – Reserve.

PORS9 data tables show that Orange was the highest production color for this model. But that may not matter as the miles are right on this car for collectors. This example has some nice interior stitching and color match interior bits and it might be bought for less than it was priced at when at Roads Scholars some time back – and it needs to be to sell.

This is a $235k hammer if the reserve comes off … otherwise no sale.

View this car’s build spec here.



What’s on the Market?
Check the Porsche Dealer Inventory Database
Searchable and Sortable – Exclusively @ PORS9.com

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