The pandemic forced RM Sotheby’s to reinvent the way of auctioning. With their monthly Open Roads concept, RM Sotheby’s brings cars to the market in an online-only auction. In the Open Roads March auction, RM Sotheby’s offered a good variety of Porsches for sale. Even though not the true rare gems, some interesting cars crossed the block. But once again, the results prove that the market has truly cooled down. The cars that fetched the most amazing prices at the peak of the classic car market, were barely bid on and remained unsold.
Changing market
Can you imagine a 1962 Porsche 356 Carrera 2 Coupe that remains unsold with the highest bid of €350,000? Just some years ago, a price like that would have been a steal. The bidding would probably not even have started that low. Or how about the 1955 Porsche 356 Speedster, an early icon that many collectors want in their garage, won’t they? Well, I seem to be wrong. The highest bid for this Porsche 356 Speedster was only $245,000.
Average prices
Among the cars that found a new owner, just one sold over the higher end of the estimation fork. And the fact that it is a 1993 Porsche 928 GTS makes it even more striking in our opinion. No, there is nothing wrong with a Porsche 928 of course, on the contrary. But these cars, even though the most luxurious and powerful daily drivers of the transaxle era of Porsche, never tended to find new owners at auctions.
Most of the cars that sold in the RM Sotheby’s Open Roads March auction were hammered at a price right in the estimation fork. Absolutely no cars that fetched a price to make the classic car market wink the eyes. The world has changed, that’s for sure. A few more Open Roads auction will take place before the true test goes on with live bidding at the Amelia Island auctions.
The results of thePorsches in the RM Sotheby’s Open Roads March auction
1970 Arova-Porsche 212 Ski bob Estimation $2000 – $2500 Sold for $2,700
Porsche 917 Children’s car Estimation £15,000 – £20,000 GBP Sold for £18,600
1955 Porsche 356 1600 Speedster by Reutter Estimation €275,000 – €325,000 EUR Unsold, highest bid $245,000
1960 Porsche 356 B 1600 Coupe by Reutter Estimation €75,000 – €100,000 EUR Sold for €82,500
1962 Porsche 356 B Carrera 2 Coupe by Reutter Estimation €390,000 – €460,000 EUR Unsold, highest bid €350,000
1992 Porsche 911 Carrera 2 Targa Estimation €50,000 – €75,000 EUR Sold for €64,900
1992 Porsche 911 Carrera 4 Coupe by RWB Estimation €110,000 – €150,000 EUR Sold for €121,000
1996 Porsche 911 Carrera Cabriolet ‘Strosek’ Estimation €50,000 – €75,000 EUR Sold for €51,700
1985 Porsche 911 Carrera Targa Estimation €50,000 – €75,000 EUR Unsold, highest bid €47,000
2002 Porsche 911 GT2 Estimation €120,000 – €140,000 EUR Unsold, highest bid €100,000
2008 Porsche 911 GT2 Club Sport by 9ff Estimation €140,000 – €180,000 EUR Sold for €148,500
2018 Porsche 911 GT2 RS ‘Weissach’ Estimation €300,000 – €350,000 EUR Unsold, highest bid €265,000
2019 Porsche 911 Speedster ‘Heritage Design’ Estimation €270,000 – €300,000 EUR Sold for €297,000
2002 Porsche 911 Turbo ‘X50’ Coupe Estimation $40,000 – $50,000 USD Sold for $44,000
1986 Porsche 911 Turbo Coupe Estimation €75,000 – €100,000 EUR Sold for €77,000
1993 Porsche 928 GTS Estimation $55,000 – $65,000 USD Sold for $71,500
Support Love for Porsche and book your hotel at Amelia Island now
Pictures courtesy RM Sotheby’s
