JZM Porsche Market Report December 2016

All JZM market reports since July have talked of surging interest in Porsche models since the Brexit vote. December has been no exception. Strong November sales figures continued into early December, with only a slight letup in enquiries as the distractions of Christmas took hold. We’re not unhappy with this, as we have some housekeeping jobs to do in the showroom and a minor lull in proceedings would be very welcome!

JZM is regularly offered cars via our website and through the JZM mobile app. While we are currently understocked and have space for more Porsches in our 50-car showroom, some would-be sellers are simply asking for too much money for their cars. JZM operates a straightforward commission structure and our reputation for quick stock turnover relies on sensible prices in tune with the market. We do not stock cars which we feel are overpriced to start with, so anything that looks too dear is a total non-starter.

A good example of our price effectiveness was the recent sale of a one-owner 997 GT3 Clubsport, which sold within hours of listing. This car aroused a lot of interest amongst enthusiasts and collectors and we could probably have sold it several times over. Some would take this to mean that it was offered too cheaply, but it was priced right and presented in beautiful condition, so sold on its merits. The same is true of all of our stock: if a car passes our rigorous pre-sale inspection and the seller asks for a sensible return, it will generally find a new home within a few weeks, if not sooner.

The GT3 Clubsport sale sold to a new customer who was first to enquire on the car. This gave lie to any rumour that we offer our most collectible cars to a so-called “inner sanctum” of JZM customers. Porsche might insist that only previous 911 buyers may occupy places on the GT3 waiting list, but we run no such policy.

We frequently have strong buyer matches amongst previous enquiries and those enquiries may hear about cars before they go on the website, but this is no different to all other car dealers. Over a series of transactions with collectors, we may come to know what they like in a car and suggest opportunities to them as they arrive, but that is just good trading. The bespoke side of JZM retail is open to all Porsche enthusiasts: we just have to know what you are looking for! Email sales@jzm.south.co.uk to discuss this.

As Christmas draws closer, so the new year approaches and we must consider the prospects for 2017. The Gen II 991 GT3 is in the final stages of testing and we hear rumours of a GT3 which will bring back the option of manual transmission. This will raise the upgrade question for some Gen I PDK GT3 owners and no doubt bring cars back to market. It also raises the question of effect on 911R, but that’s for another newsletter.

A sudden surge of PDK GT3 stock into a market which appears to have enough stock to cover demand will be an interesting market trend next year. Our top tips for 2017 follow a similar pattern to what we’ve seen during 2016. One-owner cars remain at the top of the tree, one-owner with low mileage even better. Low mileage 996 GT3s could well emerge as a force to be reckoned with, as Porsche built so few of these original GT3s.

996 GT2s have now hit a steady £150k and we feel they could go higher still. Turbo S is a quick car and a very quick seller. Standard 996 and 997 Turbo are good sellers if offered with a manual transmission. Tiptronic is great on a regular driver but can be harder work to sell and is perceived as less desirable unless the car is super-low mileage. Black interiors are what most buyers want on water-cooled cars, but period trim on air-cooled 911s always goes down very well.

We’re ahead of our sales forecasts for this year so far and are just about to offer our first seven-figure car to the market (can you guess what it is yet?). We are finalising negotiations on a number of very special air-cooled Porsche 911 Turbos (930s) and they should be in stock soon. We believe the future is bright, as long as you’re sensible and do the work required to keep buyers interested. If you’re selling a Porsche and would like to take advantage of our expertise and reputation, email sales@jzm.south.co.uk.

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