August market report
August in the car world means one thing: Monterey Car Week. And this year’s Porsche numbers look nearly identical to what we saw last year with 120 cars on offer, a 68% sell-through rate, and $54,470,490 in total sales. That’s just 21 fewer cars than last year’s 141, and only a $19,010 difference in total volume from 2024’s $54,489,500. The real story comes in the two-year trend, as Monterey 2023 also featured 120 Porsches, but brought just $26.6 million at a 61% STR. To see the dollar volume more than double while holding firm on sell-through suggests that stability has returned to the top of the Porsche market.
Our top five sales were dominated by my favorite three-letter word: R U F. Leading the way was a 1989 RUF CTR Lightweight, one of just six produced and the only example finished in Bordeaux Red. This car carried even more significance as Alois Ruf’s personal driver and showed just 11,745 miles from new. From the moment it crossed the block, there was no question it would sit at the top of the charts, and sure enough, nothing else over the course of the week came close to unseating this “Yellowbird.”
Joining it in the top five were a pair of 2021 RUF CTR Anniversary models, built to celebrate three decades since the original Yellowbird. Both examples were single-owner cars, both showed fewer than 500 miles, and both were specified in eye-catching combos. Each hammered just over $3M, essentially confirming the private-party valuations we’ve been hearing for some time.
But the real surprise, and frankly a joy to see, was a proper 1960s Spyder finding a new home. The 1960 718 RS 60 Spyder was one of just six customer cars delivered new to US-based privateers and came with distinguished ownership from day one. Its racing career stretched from 1960 through 1964, and while it was upgraded to annular brakes in 1963, the car retains its original Wendler coachwork and numbers-matching competition engine. A prior restoration was carried out by Paul Russell & Company, with a complete engine rebuild by Fuhrmann expert Bill Doyle. Add in documentation from Jim Perrin and Jürgen Barth, and you had a complete package. The car ultimately sold for $3,525,000, a strong result and a welcome sight after several years of sluggish interest in Porsche’s ‘50s and ‘60s race cars.
A real head-turner in Monterey was the 1988 911 TAG Turbo by Lanzante. The UK-based motorsport specialist and longtime McLaren partner built just 11 of these cars, each fitted with a 1.5-liter twin-turbocharged TAG-Porsche V6 Formula One engine, the same “TTE P01” units that powered McLaren to championships in the 1980s. This particular example carried engine no. 051, codenamed “AP87,” which Alain Prost campaigned during the 1986 and 1987 seasons. Finished in Mintgrün over Black leather with Blue/Green Tartan inserts, and showing just 311 miles since completion, the car produced 510 hp and was capable of a 200-mph top speed. It sold for $1,930,000, an extraordinary sum, but a sum that to me seems undervalued for the history and performance in this package.
Singers, on the other hand, showed some softness in Monterey. A 1990 911 Singer DLS, the “Mame Commission,” sold for $2,645,000, well below the $3M result we saw earlier this year. Joining it was a 1990 911 Classic Turbo Study, the “Cielo Mio” Commission, which sold for $1,490,000 against a low estimate of $1.5M, trailing the $1.68M result of a similar car. While Classic Studies have recently crept back above the $1M threshold online, these Monterey results suggest that even at the very top, Singer values are taking a step back.
It wasn’t all million-dollar fireworks in Monterey. There was a Porsche at nearly every price point. One that stood out was a 1970 914-6 that continued the strong return to form we have seen for little “sixers,” selling at a healthy $148,500. Fresh from a comprehensive five-year restoration with about $90,000 invested, this California-delivered car wore its original special-order Green Metallic finish and carried a rebuilt flat-six by Aase Motors paired with a side-shifter conversion. With its quality workmanship and unique touches, the price felt well-earned and underscored the renewed strength of the 914-6 market.
Moving a little upmarket, but still under the million-dollar mark, I was especially curious to see how this 1971 911 ST Rally would fare. With buyers paying top dollar for the new 911 S/T, who wouldn’t want the original in their garage? This car was one of just five Werks-built ST Rally cars prepared for the 1971 East African Safari Rally, restored by Porsche expert Gary Kempton, and documented by Hugh Hodges. It has been shown at both Rennsport Reunion and Amelia Island and remains road-registered and event-eligible. Presented in its original colors with period rally equipment, it failed to sell at a high bid of $550,000, but it is still available at $700,000. That is 2024 911 S/T money. Which would you rather have: the legend, or the tribute?
All in all, Monterey delivered another solid week of results for the Porsche market. Newer models continue to lead the charge with strong results across several GT and RS variants, while the classic segment remains mixed, facing some resistance at the top. Still, we saw enough record-setting sales and big-money surprises to suggest there’s plenty of life left in the market. As always, we’ll be watching the effects of Monterey play out over the next month.