Interesting sight at the Riverside, CA highline dealer auction yesterday. Amongst all the Porsche credit and dealer overflow inventory passing through (imagine 4500 cars, 10 lanes, 120 seconds each, one day), I spotted a guards red 993TT with an Autothority license plate bracket (I seem to recall it had 37K miles). Unknown what if any mods the car had other than an obvious suspension upgrade.

The cars typically line up idling for long stretches waiting their turn on the block. Upon closer inspection, this car (a trade in at an unnamed Ferrari dealer) clearly (to the trained eye) had some issues. Full repaint (the thickness meter read 4 times factory spec...everywhere). Option sticker on front hood also missing, other odd cosmetic question marks. More concerning...the oil level was absolutely pegged, pressure at idle was a tick below 1 bar, and most concerning, engine temp was actually slightly ABOVE 10 o'clock! Sure enough a check under the front confirmed both resistor fans were not functioning at all (air temp was hovering around 100 degrees). Oh...and the check engine light was also on and this fact was correctly disclosed by the auction.

The car sold for $56K as is. And although it's certainly possible that once the issues are fixed, it could be a very good car for someone however I would hope that anyone buying it would be sure an experienced Porsche mechanic says so before hand. As it was, not a good buy otherwise as I half thought it was going to explode at any moment!

The value of a PPI.....cannot be understated.

 

Must have been a private buyer, surely no one in the car business would have paid that with all the no issue cars selling in the $60-70's. (highline flippers excluded)

 

I assume by private buyer you mean broker? This is the Manheim dealer only auction...access is VERY tightly controlled, photo ID and current dealer status & CA BOE reseller permit required for registration and entry. Everybody wears an ID badge. All bids (including web bidders) displayed by business name on the boards. Impossible to sneak any private buyers or clients in tow in to the auction unless they've been fingerprinted by the DMV and are shown on your dealer records as a sales rep. No shortage of car brokers though...like me, these are dealers that do not carry inventory but instead will have an agreement with a client in advance for the specific car, color, options, etc.. In my case, I will source a car for a client nationwide at wholesale cost (an agreed not to exceed amount in advance). My fee is 5% added to actual wholesale cost + DMV fees and transport if applicable. I saw the dealer that bought this car (I suspect not a Porsche specialist) and assume he had a client already lined up...I couldn't imagine anyone buying it to put in their lot inventory either.

 

The common practice among auctions in NC is to go with a dealer and he buys the car you want for an agreed upon fee.(these are dealer only but it just means only dealers can actually buy) I guess they are a little more laid back on the right coast. lol.