Porsche Carrera GTs Have Softened, But a $1.8M Sale Shows They’re Still High

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Porsche sold about 1270 Carrera GTs worldwide, and roughly half of them came to North America. When new, they cost in the half-million-dollar range, but that was 20 years ago. Since then, prices for classics, modern exotics, and even late-model production cars have surged, and then more recently softened. The past two decades have also seen cars like the Carrera GT—stick-shift, naturally aspirated, non-hybrid, no driving aids—all but cease to exist despite a clear appetite for them. That this one sold at Broad Arrow’s all-Porsche Air|Water event this past weekend for $1,792,500 (more than triple what it cost new) suggests that our appetite is still strong, despite cooling prices of late.

Even amid the super-heated collector-car market during the pandemic boom of 2021–22, the Carrera GT was a major standout. Porsche's halo model of the era, and one of the definitive hypercars of the 2000s, the CGT was never cheap, but they were sub-$1M for most of their existence. Then, over the past five years, their value in the Hagerty Price Guide grew 87 percent. Over the last decade, their values have grown 201 percent. During 2021 and 2022, the record auction price for a Carrera GT was broken six times. Once, the record lasted just four weeks.

Since the end of 2022, though, Carrera GT values have taken a step back, by about 7 percent. The record sale price is still $2.2M, for a car sold in 2022. There was also a safety recall in April last year, and Porsche's delay in suspension parts to fix the issue led the company to issue a stop-use order on its 2000s flagship. Some insurers, especially in the UK, have also removed road-use coverage on their clients due to the order, which may have softened demand.

That said, Carrera GT values are still plenty high. The model's #2 ("excellent") condition in the Hagerty Price Guide currently sits at $1.4M, while its #1 ("best-in-the-world") value sits at $1.75M. The latest Carrera GT sale falls into that #1 range and is still the fifth-highest auction we've seen. And, taking a break from driving until any recall issues get sorted shouldn't be a big deal for this one. Bought and owned from new by American racing driver John O'Steen, who drove Porsches at the 24 Hours of Daytona and in Trans Am during the 1970s and 1980s, it shows just 3601 miles. It comes with the factory five-piece luggage set and car cover, and just had its annual service. There are lower-mile Carrera GTs, and there are examples finished in colors more exciting than black over black, but this is a solid car and it sold very well.

Stick-shift exotics like this were one of the hottest segments of an already super-heated market in 2021–22, and it appears the Carrera GT has staying power. It hits that 2000s sweet spot of being decidedly modern, but not too modern. The carbon-fiber monocoque and subframe, along with its 205-mph top speed, are all the stuff of contemporary supercars, but the beechwood shift knob atop its six-speed manual, real buttons in the interior, that big, naturally aspirated V-10 engine, and the lack of electronic nannies to keep you from doing something stupid are all refreshingly old school. Buyers like that combination, but nothing built in 2024 has it. That's what keeps the exotic cars of the previous generation relevant.

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    If they were going for $1.3 million I’d be all over it, but at $1.8 million, sadly I’m out. /sarcasm

    I do love these cars truthfully.

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