Used Porsche 911 R Selling For More Than $1 Million
The bonkers 911 R commands insane prices on the used-car market; sets new recordby Ciprian Florea, on
Porsche has just revealed pricing for the brand-new 911 R, but the official $184,900 sticker is just a tiny fraction of what some enthusiasts will have to pay to take one home. According to supercar finance experts Magnitude Finance, the sports cars are now commanding a premium of around £800,000 on the used-car market. That’s the equivalent of about $1.05 million, which means that a used 911 R can cost as much as $1.3 million.
At least that’s what Tim Marlow, head of Magnitude Finance, says after talking to several Porsche specialist dealers: "They confirmed the cars are commanding close to £1 million but they can’t list them at this amount," he added, suggesting that the 911 Rs are sold through deals that are taking place behind closed doors.
Marlow also thinks that the 911 R set a new "record level of appreciation for a new car based on a percentage of its original value." Although there aren’t any statistics available, the statement makes a lot of sense given that the price has increased sevenfold in just a couple of months. Needless to say, the fact that the 911 R is limited to just 991 units and most (if not all) of them were sold before the official unveiling, also helped prices go through the roof.
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Why it matters
Granted, the 911 R isn’t the first Porsche to go up in value a few weeks or months after its introduction. The GT3 RS, limited to only 500 units, is also in great demand. However, the RS’ value has barely doubled, while the 911 R commands seven time its original list price. This is probably unprecedented for the auto industry and a quick comparison with other nameplates reveals that the 911 R just put to shame a host of high-end supercars, including the LaFerrari. Originally listed at £1 million, the most expensive LaFerrari is known to have been sold for £2 million by a U.K. dealer shorty after the car’s release. And, while this specific LaFerrari is more expensive than a used 911 R, its price was only double the original sticker.
Definitely an achievement for Porsche, even though I have a feeling that the German automaker doesn’t approve such financial speculation.
Read our full review on the Porsche 911 R here.
Source: Motoring Research