If you’re interested in a 911, the 996 generation cars have been the most affordable entry into ownership of the iconic model for some time. The exception of course is special models like the 911 GT2 or Turbo, whose exclusivity and performance elevate their values.

The 996 is a fantastic 911 whose appeal has been dampened by headlight design, platform sharing, and Intermediate Shaft Bearing failure critiques. Looking back, the 996 hails from a period of time that offers an analog Porsche experience with modern conveniences, safety and performance.

Of these cars, the most affordable have been Porsche 996 Cabriolets. The classic car mantra of “if the top goes down, the price goes up” has never been true for the 911. While I wouldn’t say Mecum is the go-to marketplace for Porsches, the auction house’s Houston event had a trio of 996 Cabriolets to choose from and inspired today’s Market Monday post. Read on for the results and our take on the current 996 Carrera Cabriolet market at the end.

1999 Porsche 911 Carrera Cabriolet

Let’s start with a success story. This lovely Guards Red 1999 Porsche 911 Carrera Cabriolet was auctioned as part of an extensive private collection sale in Houston. The collection included a gorgeous 2007 Bentley Continental GT Coupe this author wishes he could’ve bid on, but back to the 911. Presented in Guards Red with an odometer showing only 30,521 miles, the car appeared to be in very good condition. A 996 Cab in #2 “Excellent” condition has a value of approximately $32,000.

This particular car hammered sold at Mecum for $28,600 including buyer’s premium, which seems a bit of a bargain until your eyes find the Tiptronic shifter protruding from the center console. Needless to say, 6-speed cars are far more desirable with auto transmission cars pretty consistently bringing less money. To us, this felt like a decent result for the seller. 

Another low mileage car, this 2000 Porsche 911 Cabriolet was presented somewhat poorly online, with only a handful of exterior photos and one photo of the interior dash gauges. While the silver over gray color combination is perhaps more popular than Guards Red, it’s a bit mundane. At first glance, the car appears to be in good condition but further examination, despite the poor photography, shows some issues.

The top appears to be in nice condition, but there is a paint mismatch on the aftermarket front bumper and poor hood alignment near the passenger headlight. The bumper is a bit of a mystery, as it doesn’t look like a factory Porsche part (at least not from a Turbo, C4S, GT2, GT3 or the available Aero Kit) and doesn’t do much for the lines of the car.

There are dents in the passenger side rocker panel and discoloration of the wheel center caps. The interior appears to have a bit more wear than expected given the mileage, though this generation 911 interior wasn’t the best in terms of quality.

A no-sale at $18,000, we’re curious as to the reserve price set by the seller. Perhaps its run date of Thursday plus the non-original features created too much uncertainty for bidders. This car might’ve done a better in a private sale or online auction at much less expense.

The rear-wheel-drive Carrera 2 is arguably the more desirable variant of the base 996. It’s lighter with more of a classic 911 feel than the all-wheel-drive Carrera 4. For us, the drivetrain on the C4 adds more grip and all-season drivability for those who wish to daily their 911s. Acceleration suffers, but these cars are no longer “fast” by modern standards anyway.

A more common-market example, this 2000 Porsche 911 Carrera 4 Cabriolet has racked up 121,009 miles and again features a somewhat vanilla silver over black color combination. Showing evidence of its age, mostly on the interior, the car still presents well aside from a hood gap that looks a little large. This could be because the hood wasn’t completely closed for the minimal photography or the video walkaround. At least this car has the factory front bumper.

This 911 also failed to reach its reserve with a $13,000 high bid. With a “Fair” condition 996 Carrera 4 Cabriolet running around $14,000, we agree the price was a little low for a 6-speed. The mileage and run date likely hurt this car’s results. 

Based on Mecum Houston alone, we’d say 996-generation 911 Cabriolets remain a great bargain in the Porsche world. If you’re open to the idea of open-air driving, you could snap one up for used Volkswagen GTI money and have a fun, sporty and affordable Porsche to enjoy this year. 

In specific terms, I’ll again take this opportunity to reiterate that condition matters, and Porsche buyers are detail-oriented, rational and careful with their spending. The no-sale Porsches in this auction raised questions and in a soft market questionable cars don’t bring top dollar, as there’s always a better car around the corner.

Wolf and Mare provides appraisal services for sellers and buyers of collector European cars. If you’re interested in acquiring a professional appraisal, give us a call or drop a line!