Sterling Sackey

Inventory is not high if you consider the number of cars produced, and the number of those in the USA. The fact that prices have continued to rise and meanwhile only a relatively small % of owners have decided to cash in on said prices speaks to the desirability of the car and the driving experience vs. what else is out there.

The Carrera GT is a bona fide analogue supercar icon at this point.

go-ran

Its very strange that prices are what they are. When u take into account inventory and sales activity how are prices going up so fast ?

Sterling Sackey

They haven't gone up that fast, I would say the market today for Carrera GTs is only 20% higher than it was in early-mid-2021, but it took a while for evidence of the new market to make itself known publicly via auction sales.

The cars that have jumped the most are ultra-low mileage examples @ ~1,XXX miles or lower, likely because those are the ones being sought out by collectors who don't mind paying up for the very best.

Jamie140

[QUOTE=Sterling Sackey;17968091 the driving experience vs. what else is out there.

The Carrera GT is a bona fide analogue supercar icon at this point.[/QUOTE]

Analogue is long over, at least for my lifetime.

As for the driving experience (and I know I'm preaching to the choir), any car guy who has hammered one of these things through first and second understands.

12500rpm

Also, as in any supercar market over time, there have been early buyers who had a very good cost basis (in their mind) who would like to feel great about their transaction, perhaps need the capital, not drive the car, etc. So they will want to move out of the car (say they got in at $600K), aren't sure where the market will go, so $1.7 sounds great to them. Then, a new set of buyers steps in. Saw the same with the F50, etc as it stair stepped up. Just like any other asset class.

But like any other asset class, nothing ever goes straight up forever or straight down forever (excepting misrepresentation on a specific case basic. That's why it pays to stick with quality cars and merchants.

No reason to question the 50+ number as I don't know. What's your guesstimation as to what time range the roughly 50 transactions have occurred over?

Thanks!

bp95gsx

12500, since they started going up early 2021. Graham and Merritt did at least 20 themselves. Haha

And Sterling, only 20% since early 2021??? Maybe 20% since this last fall. Lol.

But i don't give a hoot. For me to tie up almost 5X the most I've ever spent on a car, (my gated LP640), on my CGT, is a no brainer. The car is awesome. I have adjusted my finances so i can keep it forever. Hopefully. I can't wait to do some coilovers, Cup tires, handmade titanium muffled/valved exhaust and a Antigravity battery! Plus a few ponies and remove 80 pounds or so.

12500rpm

yea, for mine...more than 20% from beginning of 2021 till the deal handshake in late September. Car was in incredible shape, full engine out, PPI with flying colors, not a fly speck off with the surface. It had about 1,950 miles.

Price was between the Mecum / Monterey deal including fees and BaT close of $1.3 (which I wouldn't bid on as the seller would not response to 4X ask from me to do a PPI....).

The intermediary let me know that I would have had a deal for 20% less at the beginning of 2021. But it would have pegged it at $1M+. Which still seemed like a high water mark in people's minds at the beginning of 2021. I wish I bought 2 then!

Thanks!

mooty

u are right !

Me&You

That $1mm price would have been on the very high side at the beginning of 2021, but in hindsight, still a relative bargain compared to today.

Anecdotally, I know of one car that sold a year ago and another almost identical (color, miles within 25, same mechanical condition / needs) car that sold recently - almost to the day - and the price was exactly double... I don't think it's unreasonable to say that generally, Carrera GT prices are up 100% in the past 12 months.

Sterling Sackey

As an example I sold a particular Carrera GT in May 2021 for around $1.2M (which was quickly flipped by an intermediary), I think that same example would today trade for around $1.5M. That was a car with the better part of 10,000 miles.

Meanwhile the ultra-low mileage 1,XXX or less examples, like the cars recently sold at auction, are now commanding around $2M where they might have sold @ $1.6M in an off-market deal in mid 2021.

That is not overnight appreciation, it's more-so just evidence that the Carrera GT is finally being recognized over the past year or so for what it is, a car that rivals (or bests) alternatives like an F40 & F50 in driving experience while still remaining heavily under-priced compared to those cars.

GRPerformance

I’ve done 8 in the past 30 days. If anyone has CGT questions as to “real” market, call me. I’ll advise best I can. We are GRP feel we treat our clients extremely fairly and price cars according to real sales. Lots of dealers will tell you whatever story they want, but we have the real numbers to help advise and move product.

We also have 3 more incoming from Europe, all US original cars that are coming back home. They range from lower mile very attractive examples, to a higher mile car that was silver but now repainted to Basalt black by Porsche GB. That’s a cool “driver” that has 80 pages of service records.

If anyone has a high mile CGT in silver, but you want it to become a one of one, call me too. I’ll fill you in on a little GRP secret 😜

GRPerformance

And for what it’s worth, I’ve sold all this month from a 20k mile example to my white one of 4 PTS Carrara white. So market all over, but we have the knowledge to help you that I feel confident no other dealer has that spread in data points currently.

On top of that, people know we’re check writers for CGT, so I’m being offered cars daily. So if you’re looking for something specific I’ll bet it gets sent to me within a couple days 😜

richk

A lot of great info from dealers and owners. There is no doubt the market on CGT is up a lot year vs year.

But, this is the reality and owners like Jamie(3 time owner) agree upon. There is nothing like it. The car is truly sublime. And all things considered it’s relatively easy to drive. The only minor annoyance shifting to 1st to 2nd when the car is cold. I’m not surprised where the market is and in my humble opinion the car is worth it.

bp95gsx

I have experience with F40. So i am not totally talking out of my ***. But does anyone else feel CGT deserves to be of equal value to F40? Again either way, even if CGT goes to 10m or down to 100k i don't care. Just curious.

Jamie140

I've owned both. F40 looks better than it drives. CGT drives better than it looks.

I'd rather look at an F40 in my garage. I'd much rather drive a CGT. I've owned a lot of nice cars, the driving experience of the CGT is the absolute zenith, nothing else really comes close.

Both are expensive to service, but I think the CGT may be slightly less costly.

Relative value? Hard to say, way above my pay grade.