Sales debate: Where is the Porsche 911 market heading?
Recent auction results suggest that the crazy price surge seen in the Porsche 911 market over the last 24 months has finally slowed down. Where does this leave those looking to buy into the 911 market in the next six months? We consult the expertise of Paragon, Maxted-Page and Autofarm to find out.
While Mikey Wastie, proprietor at Autofarm, feels “there is less panic buying” than last year, causing prices to stagnate, Paragon’s managing director Mark Sumpter explains that the current plateau is only because of a lack of top-quality cars (especially at the recent Monterey auctions).
“If someone says, ‘These RSs have run out of steam, they’re now being reduced’ it’s because the discerning buyer wants a matching numbers, never crashed, full history car – only 20 per cent are these top division cars,” Sumpter confirms.
Lee Maxted-Page, director at Maxted-Page, points out that going forward, “when a really exceptional car comes to the market, it will always make a slightly higher number than the average market price,” suggesting that the 911 market still has further growth left for the right examples.
“We’re going back to a more normal regime where the rarest of the rare and the exceptional cars will continue making spectacular results, but the mediocre and more common cars will sell for mediocre money,” continues Maxted-Page.
Sumpter concurs: “I don’t think a 911T should be anywhere close to a 911E or S. When they were all cheaper cars, the price difference between a really good one and really average one wasn’t a lot. The division between the top cars and the second division cars (a car that doesn’t meet our criteria) is going to be half the price.”
All three experts agree that the next six months is still going to be a good time to buy a 911. As Wastie points out, “The activities in China and the stock market mean that at present, classic cars remain stable. I doubt any shrewd investor has all their worth in classic cars though.”
However, buyers need to remain wary, especially with the number of second-rate examples on the market. “Do your homework. Find someone you trust and listen to them, if you can’t work it out for yourself,” Sumpter implores – a perfect piece of advice for the next half a year.
For market advice on any generation or style of Porsche 911, check out our full selection of sales debates, where we ask the 911 experts the pertinent market questions so you don’t have to.