MARKET LEADERBOARD

💰 The figures shared below don’t count any other sales such as car seats, memorabilia etc..

I only include websites that have sold 5+ cars in the chart below. Which means Hagerty, Bonhams and many others did not sell 5 cars yesterday!

Click on the image to be taken directly to the listing.

2022 Rolls-Royce Cullinan Black Badge $395,000

2022 Porsche 911 GT3 $212,000

2021 Porsche 911 Targa 4S Heritage Design Edition 7-Speed $195,000

2011 Ferrari 458 Italia $186,000

2019 Ford GT40 MK1 Continuation by Superformance $185,400

With yesterday’s sale of one of these stunning cars on Cars & Bids, my curiosity about their market standing was piqued. Since I haven’t done any real Porsche analysis for a while now, I thought I’d start here with a mini dive, and I've conducted a concise yet detailed analysis of their sales over the past three months.

Clearly, numerous variables play a role in shaping price trends, and it's impractical to cover each one in detail here. However, I will focus on what I consider to be some of the major influencing factors. Before we dive into that, let's first explore who is selling these 2022 Porsche 911 GT3s.

BaT are doing roughly a $1m in sales of this model a month. Now if we look at the average selling price on all of the platforms, you can get a better understanding of how many they are selling a week.

Looking at the sales data from the past three months, it's evident that BaT's average sale price per car is about $40k higher. However, it's important to consider that there might be other influencing factors behind this trend.

If you've also observed that BaT generally commands higher sale prices compared to other platforms, (which is a post for another day) then these figures would align well with that perception.

Let me break down what you're looking at here, so you don't get tangled up in the figures.

In the left-hand column, you'll find the mileage of each car at the time of sale. The remaining columns show their sale prices. This Heatmap allows you to easily trace the relationship between a car's mileage and its selling price, just by scanning up and down the chart.

Here’s what we’re seeing:

1. Sale Price and Mileage Relationship: The scatter plot (first chart above) and Heatmap analysis indicate a general trend where Porsche 911 GT3s with lower mileage tend to fetch higher prices. This is a common pattern in the car market, as lower mileage often suggests less wear and better condition.

2. Platform Influence on Sale Prices: The analysis revealed variations in sale prices across different platforms. Some platforms consistently featured higher sale prices for similar mileage cars, indicating that the choice of platform can influence the final sale price. This suggests that sellers could potentially achieve higher sale prices on specific platforms.

3. Variability in Prices: There was noticeable variability in sale prices even within the same platform.

I’m glad you asked 😀

1. Sale Price Trend: There is a downward trend in the sale prices of the Porsche 911 GT3 over the observed period. This suggests that, on average, the cars sold more recently fetched lower prices compared to those sold earlier in the period.

2. Price-Mileage Correlation: The correlation coefficient between price and mileage is approximately -0.54. This indicates a moderate negative correlation, suggesting that cars with lower mileage tend to have higher prices, which aligns with general expectations.

3. Overall Analysis: While the trend shows decreasing sale prices over time, the negative correlation with mileage suggests that this trend might be influenced by the mileage of the cars sold. Higher-mileage cars might be contributing to the overall lower prices observed more recently. However, this trend is also subject to other factors such as the condition of the vehicles, specifications, and the platforms on which they were sold.

This analysis indicates a general downward price trend for the 2022 Porsche 911 GT3 in the last three months, moderately influenced by the mileage of the cars.

Today, The Daily Vroom is venturing into new territory. For the first time, we've explored the geographic regions where these cars were sold. While I could delve deeper into this data, I feel it offers just the right amount of detail for our newsletter. (But do tell me if you think otherwise). Knowing the locations of car sales is intriguing, but to add real value, let's examine the average sale price for each of these regions.

In this analysis, you'll notice something quite interesting: the highest average sale prices were for cars located in the South, a fact I wouldn't have initially guessed. That said, the price difference isn't so significant that it would warrant packing up and moving across the country just to list your car!

Here is an intriguing flip-flop scenario with a 2023 Chevrolet Corvette Stingray Coupe 3LT Z51. Originally bought for a hefty $101,595, this beauty just rolled off the auction block for $84k. It seems the era of shelling out $20-30k over MSRP for this caliber of car might be taking a backseat for now.

This Corvette, with its Rapid Blue paint and all the trappings of luxury - from the Magnetic Selective Ride Control to the Carbon Fiber Dual Roof Package - clearly had the seller eager to make a deal. Despite its sterling features and mere 288 miles on the clock, the sale price fell short of its initial grandeur. This could be a signal to the market - the winds of high-priced sales for new models like this may be shifting.

This Corvette's journey from showroom splendor to a markdown in the auction world is a stark reminder of the volatile nature of car values. Even with its Mid-Mounted 6.2-Liter LT2 V8 and the Z51 Performance Package, the market dictates the final say. In the world of high-stake auctions, it's always a dance of demand and desire, and sometimes, even the most coveted models can surprise us.