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RM Sotheby’s Tegernsee auction could be trend-setting

08.07.2024 By Richard Lindhorst
RM Sotheby’s Tegernsee auction could be trend-setting

The more valuable and rare a car, the more difficult it is to estimate its price. Auctions such as the upcoming RM Sotheby’s Tegernsee auction offer a very good guide here. On July 27, a number of Porsche sports cars will be auctioned off at Gut Kaltenbrunn. The results will probably have a significant influence on of certain model series’ values in the near future. Some exciting trends are likely to emerge for the European domestic market in particular. We take an advance look at the most exciting exhibits and explain why the results will point the way forward for the Porsche market.

Among the 32 lots at RM Sotheby’s Tegernsee auction are seven Porsches and a RUF SCR

A total of 32 lots will be auctioned at the picturesque Tegernsee, just under an hour south of Munich. Among them are some exhibits in the mid seven-figure range. The brands vary from Alfa Romeo, Aston Martin, BMW, Bugatti, Ferrari, Lamborghini, Mercedes and Talbot to Porsche and even a current RUF SCR. RM Sotheby’s is auctioning seven Porsches from different eras at the Bavarian lake, near the German-Austrian border.

The first Porsche under the hammer at Tegernsee is a Reutter Porsche 356 A 1600 Coupé

It all starts with a 65-year-old Porsche 356 A 1600 Coupé from the Reutter body shop. After an extensive restoration in 2021/2022, the car with chassis number 106509 shines almost like new. The attention to detail is not only evident in the perfect paintwork and the refurbished wheels. Its leather belts on the front hood and for securing the rear wheel have also been considered.

In addition to the captivating interior, the gleaming engine compartment catches the eye. The 60 hp four-cylinder boxer engine with a displacement of 1.6 liters leaves no doubt about the excellent overall condition. Historical paperwork and documents as well as the as-new toolkit round off its overall condition.

A high auction price for the Porsche 356 A 1600 could further boost the upward trend in prices for the 356 model series.

The estimate of 140,000 to 200,000 euros is in line with the market, perhaps even a little conservative. In the past, Porsche 356 A 1600s in comparable condition have sold for well over 200,000 euros. Since we already established in a market analysis of the Porsche 356 at the beginning of 2024 that these models have risen sharply in price, the Tegernsee result could further reinforce this trend. If the Reutter Coupé exceeds the price estimate, a pull effect could develop.

RM Sotheby’s estimates the Porsche 964 Turbo 3.6 with 175,000 kilometers at 275,000 to 375,000 euros

It is the Bad Boys Porsche – the Porsche 964 Turbo 3.6. Hardly any other car is as closely associated with a film as the 360 hp 911 Turbo from the 1993 model year. Due to the very small number of 1,437 vehicles produced, it is a sought-after collector’s item. Good examples for less than 300,000 euros are rare.

The Turbo 3.6 on offer at RM Sotheby’s Tegernsee Auction – like Will Smith and Martin Lawrence’s “company car”, shines in black paint. The gray interior compliments the paintwork very well. Despite its relatively high mileage, the odometer shows around 175,000 kilometers on the clock, it is in very good condition and the total of 36 maintenance entries prove that it has always had a good home.

The Porsche 964 Turbo 3.6 has already arrived in the elite league of collectors’ cars. How much further can the journey go?

Sales prices – especially since 2016 – paint a clear picture. The Porsche 964 Turbo 3.6 has finally arrived in the elite league of collectors’ cars. The estimate of 275,000 to 375,000 euros forecast by Sotheby’s once again appears to be in line with the market. Should it approach the upper end of the scale, however, this would be a result with a signal effect. After all, while cars with significantly lower mileage have been sold for around 300,000 euros here and there, such result would be a real statement. Should we soon be seeing more Porsche 964 Turbo 3.6s in the region of 400,000 euros or even more?

Color makes the difference – Porsche 964 Carrera RS in ruby star at the RM Sotheby’s Tegernsee Auction

Since Porsche has been pushing its paint-to-sample color program, we are experiencing a veritable renaissance of the cult colors of days gone by. One of these is ruby star. Cars in this magenta-like color are highly sought-after and usually only available at a premium. This is also the case with the Porsche 964 Carrera RS, which is going under the hammer at RM Sotheby’s Tegernsee Auction. With expected proceeds in the region of 300,000 to 350,000 euros, it is not one of the bargains on the market.

A year ago, a black Porsche 964 Carrera RS was auctioned in Switzerland as part of the Carrera Collection for a bit over 200,000 Swiss francs. As of 2024, 964 Carrera RSs usually fetch around 250,000 euros with a few outliers in both directions. If the RS in ruby star to be auctioned at Tegernsee reaches its target of 400,000 euros, this would finally propel Porsche’s second Carrera RS into the Olympus of sports cars.

We are very excited to see how high the bids will go. This beautiful Rennsport 964 appears to be in good condition and tastefully equipped with seats matching the beautiful paint. Only the mileage of just over 87,000 kilometers could stand in the way of an extremely high bid. But back in 2023, a ruby star red Porsche 964 Carrera RS found a new garage for almost 500,000 dollars. So why not this one too?

Somebody can feel like James Dean after RM Sotheby’s Tegernsee auction

The silhouette of the Porsche 550 Spyder is certainly one of the most famous in the history of the Zuffenhausen-based company. It is the first Porsche ever to be designed from the ground up as a racing car. With only 90 examples built, the Porsche 550 1500 RS Spyder, as it is known in full, is one of the rarest vehicles ever built by Porsche as well. Of course, it is also part of the story that Hollywood’s rising star of the 1950s, a certain James Dean had a fatal accident in a Porsche 550 Spyder.

RM Sotheby's Tegernsee Auktion Porsche 550 Spyder

At the Tegernsee auction, RM Sotheby’s is offering one of the 550 Spyders built by Wendler in 1955. This particular model was originally delivered to Portugal in white with a beige interior and was used in several European races in the 1950s. Its current owner tried to restore the car in Portugal back in the 1980s, but was unable to find a suitable workshop. So he decided to have the car rebuilt by Porsche in the early 1990s.

The Spyder offers matching numbers but it’s not in its original color

As part of this restoration, the car retained its original engine and gearbox, meaning it shines with the coveted matching numbers rating. However, more modern rivets were used in the work on the front and floor assembly and the color was changed during the overhaul as well. This is why the 550 Spyder is now silver with black leather. It has not been driven since the restoration was completed in 1994. And its engine has not been started or turned over since 2010, so it needs a thorough service to make the 550 Spyder ready for use again.

In 2016 and 2019, two silver Porsche 550 Spyders were auctioned off at Sotheby’s in Paris for top bids of just over 2.7 and 3.0 million euros respectively. In Monterey 2021, a Spyder was up for auction for 3.8 to 4.2 million US dollars, but did not find a buyer. Sotheby’s estimates this example at 3.5 to 4.2 million euros. A result like this would significantly revive the market for Porsche 550 Spyders, which has seem to flatten out somewhat in recent years.

This Porsche 911 Carrera 3.2 Speedster’s winning offer is eagerly anticipated

After prices for Porsche 911 Carrera 3.2 Speedsters based on the G-model leveled off somewhat since a sharp rise in the early 2020s, the result of Lot 125 of the RM Tegernsee Auction is eagerly awaited. The 1989 model on offer comes in a timeless “triple black” combination. This means: black paint, black leather, black Fuchs wheels. With a bit over 70,000 kilometers on the clock and an extensive maintenance history, it has the potential to become a usable classic.

Sotheby’s experts are expecting proceeds of between 150,000 and 200,000 euros. The auction has no reserve. However, at first glance, the estimate even seems conservative. Taking current asking prices for the 3.2 Speedsters into consideration, an even higher price would be conceivable. This is because the cheapest models are currently priced at around 165,000 euros and other vehicles with similar mileage are being offered for well over 200,000 euros.

If the black Speedster surpasses the 200,000 euro mark, this could have a certain knock-on effect – especially for the German and European markets.

With only 2,103 vehicles built, it is one of the rarer Porsche 911 G models anyway. Should the black Speedster break through the 200,000 euro mark, this could have a certain knock-on effect, especially for the German and European market. Here, too, we are very curious to see how high the bids will go at the RM Sotheby’s Tegernsee auction.

A Carrera GT, a 991.2-based 935 and a RUF SCR will also be auctioned at RM Tegernsee

The other lots also promise interesting results. Sotheby’s is also offering some modern collector’s cars at Gut Kaltenbrunn. In addition to a GT silver Porsche Carrera GT, for example, one of only 77 Porsche 935s based on a 991.2 will go under the hammer. Another eagerly awaited highlight is the auction of a RUF SCR vintage 2022. All three are estimated in the low seven-figure price range.

As some of the vehicles auctioned at Tegernsee have such small production numbers that actual sale prices rarely become public, the auction results provide a valuable resource to better assess market values. We therefore recommend all collectors and those who want to become one to follow the RM Sotheby’s Tegernsee auction closely!

© RM Sotheby’s

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