JZM Porsche Market Report June 2017
Every month has its unique patterns and June is no exception. The majority of activity through late June and early July centres on cars being offered for sale. Owners who are thinking of changing their car in early September set the wheels in motion some weeks ahead, so we are always offered plenty of cars at this time of year.
Water-cooled cars make up the lion’s share of stock offerings, but we also have some very nice air-cooled cars coming through. 993s will be a major theme over the next few weeks, with an in-house 993 Coupe project featuring incredible service history reaching completion, a beautiful Zenith Blue C2S coupe about to touch down and our new RHD Carrera 2S with tuning bills for over £115,000 in its history: a 993 RS in sheep’s clothing.
Other air-cooled cars arriving in July include a perfectly restored early 3-litre 930 in Copper Bronze Metallic, which we are very excited about. All 911 Turbos continue to be pretty good news and we are lighter on Turbo stock than we would like to be. However, really good water-cooled Turbos are not easy to find in JZM condition and we are not going to accept substandard cars just to bolster our numbers.
While we were pleased with showroom activity through June and sold more than twenty cars over the month, we remain extremely selective about what comes in to our showroom. JZM website watchers will note that the high value collectibles have come back with a bang this month, as we added a Mercedes McLaren SLR 722, Carrera GT and a fine GT2 RS to our stock. We have also done well with lower-priced cars in recent weeks, so our entry-level offerings include two immaculate Boxsters and an exciting KTM X-Bow. Some of our older stock has been repriced to offer encouragement and of course we are open to negotiation, including part exchanges.
The market continues to be interesting. Currently, we have three fine Gen II 997 GT3s that may have sold in a day or two twelve months ago, but have now been in stock for almost a week. When benchmark cars such as the 997 Gen II GT3 are seen to stay on the market for a number of weeks, this normally encourages the internet keyboard warriors to predict the end of the bubble or whatever they call it these days. Our view is rather calmer.
A change in the pace of GT3 sales is always worth considering, and it may be that some hopefuls are imagining that the arrival of the 991.2 GT3 will suddenly bring 997 Gen II GT3s crashing down. This is an unlikely prospect.
Our discussions confirm that the 991.2 GT3’s arrival will not be accompanied by a 997 GT3 part-ex surge. We know that 991.2 GT3s will be well over list when they eventually come up for sale as one-owner cars. So, with the market for 997 GT3s of JZM quality unlikely to be heading for oversupply and no other obvious factors set to impact on prices, we expect our cars to sell in quick succession when the buyers come to market.
Summing up market activity for June, our sales show an eclectic mix of water-cooled cars to be used as regular transport – 997 GTS, 991 Turbo S, Cayman S etc – with a smattering of 911 collectibles including 964RS and 997 Gen 2 GT3 RS. We also pre-sold a number of rarities which came in from Far East collections (GT2 RS and 996 GT3 RS), so it is always worth contacting us to discuss cars which may be on the horizon. We expect July and August to be relatively quiet compared to the first half of 2017, with activity gradually getting back up to speed soon after the kids go back to school in September.