By Lee Sibley 3 months ago
What's happening to Porsche Carrera GT prices?
Values for the Carrera GT supercar seem to have skyrocketed. 9WERKS questions the experts for an informed market view
Whether you’re looking to buy a Carrera GT or simply, like us, drooling over the 9WERKS Classifieds, it’s clear something is afoot. After years of steady growth, prices for Porsche’s V10 supercar seem to have suddenly gone stratospheric.
Take the 250-mile Carrera GT recently auctioned on US website, Bring A Trailer, which just sold for $2 million. Earlier this month, a Guards Red car with just 780 miles sold for $1.9 million (£1.4 million) via the same platform.
What is going on? Mark Sumpter of Paragon Porsche, who has owned a Carrera GT since new in 2005, urges caution when interpreting a few headline-grabbing auction results. “One or two huge transactions can skew perceptions of prices,” he explains, “especially when it ends up all over social media. It happens more in the classic Ferrari world, but a handful of people can potentially manipulate the market. Ultimately, a couple of billionaires entering a bidding war over a particular car doesn’t change much.”
Sumpter cites the record-breaking 993 GT2 bought by Whatsapp co-founder Jan Koum in 2016. “Afterwards, people just assumed GT2s were worth £1.8 million, but that wasn’t the case.” The Paragon MD also says the American and British collector car markets are very different: “The US seems to be more excited about the Carrera GT at present”.
Jonathan Franklin, of 9WERKS-approved Porsche specialist Jonathan Franklin Cars, agrees: “A few years ago, Europeans were buying cars from the US. Now their market is stronger and they’re buying from us”. That said, for the UK, both experts agree that Brexit has renewed interest in the “50-100 cars” (Sumpter’s estimate) located here. “The Carrera GT isn’t 20 years old yet,” notes Franklin, “so any car imported from Europe is now subject to 20 percent VAT.” When you’re spending close to a million pounds, that’s an almighty tax bill.
So, how much for a Carrera GT? Prices haven’t reached the heady heights seen Stateside, but they’re certainly going in the right direction for sellers. Paragon has seen three sub-10,000-mile cars sell in the past few months, all for around £850,000, and Sumpter thinks typical values could soon nudge beyond £1 million. As a barometer for the market, he suggests watching a 5,500-mile car being sold with no reserve by RM Sotheby’s in Arizona next week. The auctioneer’s estimate is $1 million - $1.3 million (£750,000 - £950,000)
Franklin concurs, saying Carrera GT prices are on the rise and “collector-grade” cars are now worth seven figures. Most are painted GT Silver, but Guards Red, Fayence Yellow and Basalt Black all command a premium.
However you spec your Carrera GT, it remains an intensely desirable machine. A 612PS naturally aspirated V10 with rear-wheel drive, carbon fibre chassis, carbon-ceramic brakes and a manual transmission with a beech wood gearknob like a 917… how to improve on that? Many might argue Porsche hasn’t done so since.
It’s a car our experts believe is still undervalued. “The Carrera GT has never been given enough recognition,” reckons Franklin. “In our electric- or hydrogen-powered future, only a few very significant ‘pinnacle cars’ will stand out as blue-chip investments: this is one of them. Newer Porsches are even faster, but a CGT has more soul.”
Having driven his Carrera GT to race meetings around Europe, adding 7,000 miles in 18 months, Sumpter is clearly also a convert. “It’s a pure, motorsport-derived analogue supercar. A 918 Spyder [the Carrera GT’s eventual successor] won’t age as gracefully: its hybrid technology will date and it makes the car heavy. The appeal of the Carrera GT is timeless.”
Article written by Tim Pitt
Article written by Tim Pitt