NEW! Award 76: 1990 Porsche 944 S2 Cabriolet – Sold?

July 30, 2021 Update – We just confirmed the listing for this Porsche 944 “Classifind” expired, so with no replacement found we’re assuming this ride “Sold?” While this one got away, please reach out either by email or call us directly if you’d like to be informed when we come across something similar.

July 3, 2021 Update – We’re guessing that after two weeks of what was likely no action on their listing, the seller of this Concours-Quality 1990 Porsche 944 S2 lowered their asking price by five large from $44,900 to $39,500. That’s still big money for a 944, so we will continue keeping an eye on where this goes.

“Vintage Porsches built prior to 1997 have increased in value substantially giving this rare S2 tremendous upside.” is how the private seller of this 33K mile 1990 Porsche 944 S2 Cabriolet originally listed in July 2021 on Craigslist in Cumberland, Rhode Island (Providence) tries to set the tone of their ad.  While their statement is very true for air-cooled 911s, that is not exactly a true statement for transaxle Porsches such as this 944 S2 cab.

We are not denying this is an incredible example of this vintage of 944 S2 with only 33,000 original miles.  In like-new condition, this Cabriolet is a virtual shoo-in as a Concours winner at any Porsche Club of America event you enter it into. However, the $44,900 asking price is a stretch. First, Comparing that price against the Hagerty Insurance Online Valuation Tool confirms the private seller has their 944 S2 Cab priced nearly fourteen thousand dollars higher than this guide’s #1 “Concours” estimate of $31,000. While we thought the Bring A Trailer effect might be in, a check of recent past auctions of similar S2s confirmed nothing remotely comparable to this seller’s asking price. Finally, Classic.com, the self-described search engine and analytics platform for the classic car market, also confirms the asking price to be a stretch:

Given the overwhelming evidence not in favor of this seller’s optimistic price, we award them our latest “NEW!” (short for “No Effin Way!”) Award for an asking price not in line with current market averages.

What the seller fails to realize is that while their vintage water-cooled 944 S2 Cabriolet may be less expensive than a similar vintage air-cooled 964 or 993 911, a $45K asking price puts their car in competition for 2005-2008 997.1 water-cooled 911s.  Candidly, someone driving the two cars side-by-side would easily opt for the latter. However, if you always had your heart set on buying a 944 S2 when they were new but could not afford one back then, now is your chance to own what appears to be a 31-year-old new car.

Here’s the seller’s description:

“Amazing collector quality car that should only increase in value. Vintage Porsches built prior to 1997 have increased in value substantially giving this rare S2 tremendous upside.“

Yes or No: do you agree with our pricing assessment?  Comment below and let us know!