Let’s just cut right to the chase here: Selling a Porsche is not like selling your average car.
Porsche owners are also not your typical owner either. Not only are Porsche drivers typically enthusiastic men and women who appreciate the art of the world’s best sports cars, but they may also be a tight-knit group of Stuttgart lovers who typically participate in rallies, meet-ups, and car shows around their local communities. When it comes to the unabashed love of driving, Porsche owners are simply birds of a different feather.
So, if you want to learn how to sell your Porsche quickly in 2023, you’re in the right place. We’re going to show you why selling a Porsche the traditional way will often leave owners feeling like they were taken advantage of and show you the best way to get the most money for your Porsche in 2023.
Let’s get into it!
Porsche’s Are All About Factory Customization
Even though Porsche has expanded their lineup to include everything from the outrageous Taycan to the family-friendly Macan and Cayenne SUVs, this brand is still like nothing else on the road today. We want to start with this point because getting the most money for your Porsche requires sellers to understand that they have something special in their hands.
Buyers who purchase a Porsche usually contact the dealer knowing exactly what they want. Now, there may be some flexibility within the more traditional vehicle choices such as SUVs, but when it comes time to sports cars like the Porsche 911, Boxster, or Cayman, buyers know what they want and expect to get it. After all, when someone is paying north of $100,000 for a specialty sports car, why wouldn’t they get exactly what they want?
Porsche knows their buyers well and offers an incredible array of factory options for its new vehicles that can make any enthusiast’s eyes water.
Take the iconic 911 Carrera, for example. Buyers looking to purchase a brand-new model will have the choice of 18 different paint colors, in three different categories. Interior colors and material choice? How about 33 unique options? Wheel options? Seven. In fact, there are over 100 unique options that buyers can choose from when they order a 911 from the factory. This same level of customization and unique models extends to the models that dealers carry on their lots. People will travel far and wide to get the exact Porsche model they’re looking for.
Why Does Customization Matter?
Customization matters because most Porsche buyers are looking for a particular set of options, and they are willing to pay to get the options they desire. When you place a used Porsche on the market, you need to find those buyers or work with a specialist buyer who actually understands the rarity or desirability of your particular Porsche model.
Let’s say you have a Ruby Star Neo 911 Carrerra, complete with Carerra classic wheels, Truffle Club Leather interior, 4-way Sports Seats, and the Heritage Package. Since Porsche is a low-volume manufacturer, you may have the only one with those particular options in the United States, and you may not realize that you have something incredibly special in your hands. In contrast, a more traditional vehicle like a Honda or Toyota will have far fewer options and much more vehicles with those options floating around the market.
This is the type of knowledge you can use when you sell your Porsche for way more money than the traditional methods of selling.
How To Sell My Porsche
Now that you understand a bit about why Porsche vehicles are so unique in the market, let’s dive into all the pros and cons that buyers typically encounter when they try to sell their Porsche cars and SUVs.
To be frank, selling a Porsche via the private party market will be a major hassle without any real financial benefit. When we say private party, we’re talking about sites like Autotrader, Craigslist, or Cars.com. Many buyers also use local classified sites like Facebook Marketplace and Offer Up to sell cars as well.
The list of cons is long. First off, you have to deal with all types of buyers without knowing if they are serious buyers, or if they actually have the funds to pay for a car that is likely in the six-digit range. Classified sites are also full of private brokers who are looking to take advantage of people in desperate situations. They want to buy low, so they can sell your Porsche for way more than they paid for it. You may even get tire kickers who just want the opportunity to take a blast around the block in your German sports car! Plus, there is an inherent risk of fraud and safety throughout the entire selling process.
Most importantly, it will be very, very hard to find that niche buyer who is looking for your particular Porsche. Even if you live in a major metropolitan area, selling a Porsche for what it’s actually worth can be a huge gamble.
On the plus side, you may get insanely lucky and find someone who’s willing to pay what your Porsche is worth, which is more than can be said for other methods.
If you’re interested in giving up heaps of money for the sake of convenience, then you should look at trading in your Porsche. Even if you intend on buying another highline model from a competing brand, or if you’re looking to buy another Porsche, you will still get hung out to dry if you plan on trading in your Porsche. The reason is quite simple: profit margin.
Dealers want to make money with every swipe of the pen, and they know that most people cave under pressure because they want that shiny, new vehicle. Dealers will often work your trade into a deal for the new car you want and then negotiate with you based on the monthly payment without disclosing what they’re actually paying for your trade until you sit down to do paperwork. Take a good look and you’ll realize that you’re probably getting hosed.
Most dealerships will take your Porsche in for a low price, and then attempt to resell it on their lot (usually failing to find the right buyers) or they will send it off to the wholesale market where it will be picked up by another dealership for sale. Every step of this process puts the dealership or wholesaler in as the “middleman” and the middlemen need a profit margin to keep bread on the table.
The bottom line is that it’s almost never a good idea to trade in your Porsche.
Although eBay was the original auction site, they are no longer the biggest name in the game, especially for rare, vintage, or custom automobiles. That honor now belongs to Bring A Trailer (BAT) and Cars and Bids.
BAT focuses on everything from exotics to vintage rides, and the community of buyers who propagate this site is especially strong. Cars and Bids may be a good place to sell your Porsche, but only if it falls into the “cool and unique” category, or falls into a particular era. For example, a 928 or a 944 would be the right type of vehicle for Cars and Bids. If you happen to have a particularly rare Porsche, you may do really well on either BAT or Cars and Bids, but there are some major caveats.
First off, to be sold on either site, your Porsche needs to be accepted by their content teams. This means there is no guarantee that your Porsche will even make it past this stage. Secondly, pricing is solely based on perceived market value, and when an auction is involved, that could either be a very good, or a very bad thing. Auctions are designed to generate buzz and interest, but the buzz will only go so far if the right buyers and the right car don’t come together.
Bottom line is that you need to be patient and be okay with some risk if you decide to sell on either platform and for some Porsche owners, that will be a deal breaker.
The Best Way To Sell A Porsche
When it comes right down to it, selling a Porsche is fraught with major challenges that can make the selling process frustrating but that’s exactly where the experts at We Buy Exotics can help by making your Porsche selling experience quick and easy.
Rather than deal with tire kickers, fraudsters, lowballers, auction site hassles, and greedy dealers, We Buy Exotics offers a seamless selling process that is specially tailored toward ultra-Highline level vehicles. Our twenty-plus years of experience in large, franchise dealerships allows us to understand the true value of your Porsche car, or SUV and offer you a fair price for your unique machine. Even if you have a loan on your Porsche, we will handle all of the paperwork and ensure that your loan is paid as agreed.
All you need to do is start by submitting your information on your Porsche and we’ll quickly get back to you with a competitive offer based on market conditions and the information you provide. Once your vehicle passes inspection and we receive documentation, we’ll immediately process payment for your Porsche. We’ll even arrange for pickup of your Porsche and make arrangements to have it sent to us. That’s it!
Even if you’re considering other options, do yourself a favor and get a quote from us. You’ll be glad you did.