JZM Porsche Market Report May 2017
Here’s our used Porsche market report for last month ahead of this month’s newsletter. Subscribe to our monthly Porsche market report newsletter here.
Trader friends north of the Watford Gap report luxury car sales as somewhat in the doldrums. The Italian stallions seem to be worst affected, with trade activity on Ferrari and Lamborghini at its lowest point all year. Talking to our local traders, the used Porsche market closer to London continues to tick over, but retail buyers are being increasingly particular about the cars they go for.
Our view of the market continues to be optimistic: there are buyers out there for sensibly priced cars in the best condition. During the last thirty days, more than a few Porsches have sold within 24 hours of arriving at JZM. This is not uncommon for us, as we follow the dictum of “buy fair, sell fair, be picky”. We are very careful about what we bring into stock and it is always exceptional.
A good example was our recent Racing Yellow 981 Boxster Spyder. We collected this car from up north and no sooner had it arrived in the showroom than a deposit arrived over the telephone. A flurry of Turbos also sold within a couple of days, as did a pair of 997 Carrera GTS models. Porsche 997s in low mileage, A1 condition continue to be very good news. We don’t retail the cars known to hold risk of engine trouble, so our 997s are limited to the GT models, GTS, Turbo and Turbo S cars. All of these models remain sought after in good condition, although Carrera GTS is worth a small caution at present.
Porsche 997 Carrera GTS
Some sellers are now asking very high prices for the GTS models, and these overpriced cars are not selling. Dealers with strongly priced examples are paying no more for the cars as trade-ins or cash purchases – we are matching them pound-for-pound on price – but our margins are more in touch with reality. The risk these overpriced cars create is that they will kill buyer momentum and there is a sense of Carrera GTS hovering dangerously close to the top of the stairs, as 993 Turbo once did. Let’s hope it does not trip off the top step.
The 997 Turbo S is tracking in the opposite direction. We have been singing the praises of these cars for months and they continue to sell very quickly when offered in the right condition. Turbo S prices have not yet peaked and may well overtake 991 Turbo S on their travels – the same could also be said of certain other 997 variants. We are happy to buy every 997 Turbo S that fits our stock profile and passes inspection, so call or email if you are thinking of selling.
Porsche 911s are not the only fruit: both Boxsters and Caymans sold well through May, with our lovely Guards Red Cayman S selling particularly quickly at a very reasonable £42,900. Our low mileage Cayman 2.9 in Black also sold in a matter of days and we could do with more of those cars. GT3s of all flavours remain sought after and we are keen to stock more low mileage examples.