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Silverstone Auctions The Porsche Sale 2016 – results & analysis

By CSF Team | Classic car auctions & analysis | 0 Comments

Let’s be frank – watching the classic car market isn’t nearly as exciting now as it has been over the last two years.

The prices of most classic cars aren’t surging upwards like they were in 2014 and 2015 and this means auction results aren’t making the headlines like they were. Silverstone Auctions’ October Porsche sale is a case in point.

There’s not too much you can say about a successful auction that doesn’t offer up any really outrageous results apart from “It went well.”

In terms of the numbers, 73% of the cars sold which is about average over the last two years and better than average over the last five. 18% of the cars were sold within their auction house estimates – average compared to the last 12 months and lower than the average for the preceding twelve. So no surprises there. Average estimated values were almost identical to the 2015 Porsche Sale.

A quick check on forums and social media will reveal wildly differing opinions on which cars should have sold for what. From our perspective – comparing prices being paid in private transactions to these results – the prices are in general aligned. High performance 996s seem to have cooled a little at auction but not compared to sales prices away from the auctions and the same could be said about some 993 models although of course this general comes down to the quality of the car offered rather than a general price decline. Four cylinder Porsches seem to be advancing – again, mileage and condition being the major influencing factor.

Overall prices remain strong but buyers are beginning to weed out the cars that 18 months ago they might have snapped up, no doubt incentivised by the promise of a profit. Those profits are becoming more elusive unless buyers are willing to play the long game or for high stakes which leaves the rest of the Porsche market where it is – in cruise control.

 

1973 Porsche 911 2.4T MFi Coupé – sold for £45,000 inc premium. “Original and unmolested” – needs restoration.

porsche-911-2-4-mfi-silverstone-porsche-sale-2016

1968 Porsche 912 Coupé – sold for £48,940 inc premium. LHD US car. Recently restored.

912s are looking strong.
912s are looking strong.

2010 Porsche 911 (997) GT3 RS – Gen II – sold for £168,750 inc premium. UK RHD 21,000 miles.

porsche-997-gt3-rs

1991 Porsche 911 (964) Turbo – sold for £90,000 inc premium. Second time out for this car – it failed to sell at the Silverstone Classic.

Good value - hard to say without an inspection...
Good value – hard to say without an inspection…

1990 Porsche 911 (964) Carrera 2 Targa – sold for £58,500 inc premium (Estimate £60-70,000). Winner of the Porsche Centre Restoration Competition – all the provenance you need?

porsche-964-targa-silverstone-porsche-sale-2016

1999 Porsche 911 (996.1) GT3 Clubsport  sold for £70,310 inc premium. UK, RHD, 32,000 miles.

Dare we say these have room for improvement?
Dare we say these have room for improvement?

1995 Porsche 911 (993) Turbo – sold for £112,500 (estimate £115-130,000). UK RHD 67,000 miles. Recently repainted and retrimmed.

porsche-993-turbo-silverstone-porsche-sale-2016

1988 Porsche 944 Turbo S – sold for £35,440 inc premium. UK RHD, 47,000 miles.

Most likely a good long term buy for the new owner.
Most likely a good long term buy for the new owner.

1989 Porsche 911 (930) Turbo – sold for £1151,880 inc premium. UK, RHD, 24,000 miles.

porsche-930-turbo-silverstone-porsche-sale-2016
930 Turbos – still strong in the market.

 


The numbers

2016 Results

Total value of lots sold including premium + VAT – £ 2,597,035

Total lots 62
Sold lots 45 72.58%
Unsold lots 17 27.42%
Sold over estimate 5 8.06%
Sold under estimate 28 45.16%
Sold in lower half of estimate 5 8.06%
Sold in upper half of estimate 6 9.68%
Sold in lower half of estimate or below 33 53.23%
Sold in upper half of estimate or above 11 17.74%
Sold at median estimate 0 0.00%
Sold within estimate – ACCURACY 11 17.74%

2015 Results

Total value of lots sold including premium + VAT – £ 2,336,666

Total lots 57
Sold lots 37 64.91%
Unsold lots 20 35.09%
Sold over estimate 4 7.02%
Sold under estimate 21 36.84%
Sold in lower half of estimate 8 14.04%
Sold in upper half of estimate 1 1.75%
Sold in lower half of estimate or below 29 50.88%
Sold in upper half of estimate or above 5 8.77%
Sold at median estimate 0 0.00%
Sold within estimate – ACCURACY 9 15.79%


Click here for full results with estimates and heatmap
.

Silverstone Auctions Silverstone Classic


Silverstone Auction Porsche sale results 2016

Images courtesy of Silverstone Auctions.

 

 

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