Home/Price Trends/993 Carrera & Carrera S
Beautiful and fully sorted · 1993-1998The last air-cooled 911 in a long-run analysis 2011-2025: the phases, the model hierarchy, investment potential and a forecast to 2030, supplemented for the June 2026 update by 834 documented sales from the MarqueScope SOLD archive.
The Porsche 993 is the fourth generation of the iconic Porsche 911 and was built between 1993 and 1998. As the last air-cooled 911 it holds a special place among collectors and enthusiasts. This analysis examines how prices for the Porsche 911 Carrera (993) have moved from its launch to the present, across the various model variants: Carrera, Carrera 4, Carrera S, Carrera 4S and Targa.
Drawing on extensive data, it identifies trends, sets out where the investment potential lies and offers forecasts to 2030. The material should be of value to collectors and investors alike who take an interest in this iconic sports car.
For many Porsche enthusiasts the 993 is among the most beautiful and the most fully sorted of all 911s. Its standing as the last air-cooled 911 and the relatively small production run of just under 70,000 cars make it a sought-after collector’s item that has appreciated steadily over the past decades.
For the June 2026 update, the long-run view has been supplemented with documented sales from the MarqueScope SOLD archive (October 2025 to June 2026). Of 1,217 recorded 993 entries, 188 without a sale price and 5 with obvious data-entry errors below €15,000 were removed; of the remaining 1,024, 64 classic cars wrongly assigned by the platform (Porsche 912s and modified early 911s of 1965-1969) were excluded and 13 duplicate listings counted as one sale each. 111 Turbo sales are covered by the separate Turbo report; after two corrections in the RS cell, 834 analysed sales form the data behind this page. Figures up to 2025 are average prices for well-kept cars, while the 2026 figures are median sale prices across all conditions; this change of method is flagged in every table and chart.
3.6-litre flat-six, air-cooled
cars built in total (just under)
documented sales in the MarqueScope archive (as at June 2026)
Median sale price, Carrera 4S (June 2026)
The base model
The all-wheel-drive variant
The glass-roof concept
1997-1998 · only 3,714 built
1995-1998 · 6,948 built
Appreciation over 14 years
| Model | Average price (as at 2025) | Where it stood in 2025 | Median sale price (June 2026) |
|---|---|---|---|
| 993 Carrera 4S Coupé | €128,000 | Premium status, with a clear gap in price | €141,000 |
| 993 Carrera 4 Coupé | €102,000 | A slight lead over the rear-wheel-drive cars | €86,800 |
| 993 Carrera Coupé | €101,000 | Solid appreciation for the base model | €85,000 |
| 993 Carrera Cabriolet | €100,000 | Almost level with the Coupé | €79,993 |
| 993 Carrera 4 Cabriolet | €99,000 | Slightly below the rear-wheel-drive Cabriolet | €82,500 |
| 993 Carrera Targa | €98,000 | At the bottom of the scale in 2025 | €95,993 |
Average prices as at 2025: 911Finder market analysis for well-kept cars (weighted 40% condition grade 1, 40% grade 2, 20% grade 3). June 2026 median sale price: MarqueScope SOLD archive (Oct. 2025 to June 2026), medians across all conditions and mileages. That the 2026 medians for the base models sit below the 2025 averages reflects above all this change of method (the median sale prices include high-mileage cars too; median mileage in the base cells runs from 118,940 to 151,820 km); the Carrera 4S, by contrast, sits above its 2025 average even as a median sale price.
Prices for every 993 variant stayed relatively constant in these years. The Carrera 4S Coupé was already established as the premium model, with a gap of roughly €15,000 to the others.
Around 2013 prices began to climb noticeably, marking the start of the air-cooled boom. The Carrera 4S was already pulling further away from the others.
Every 993 saw its strongest sustained appreciation in this phase. Prices almost doubled within four years, and the gap between the 4S and the rest kept widening.
A clear correction followed the first peak of 2018/2019. Prices fell by 10-15 per cent, which can be read as a healthy shake-out after such a sharp rise.
A brief period of stability followed the correction. Surprisingly, the COVID-19 pandemic brought no further fall but established a firm floor for what came next.
From 2021 a second and even stronger rise set in. The Carrera 4S reached its all-time highs, while the other models also gained significantly.
After new highs in 2023/2024, a moderate correction ran to 2025. It points to a maturing market and should be understood as a normal part of a cyclical one. The June 2026 median sale prices continue the picture on a changed method; see the market-data section.
The 4S clearly holds premium status: One striking feature of the long run is the widening gap between the Carrera 4S and every other variant: in 2011 the premium was roughly €15,000 (35 per cent), by 2025 roughly €25,000-30,000 (25-30 per cent). The steadier percentage premium points to a stabilising market and a more realistic valuation of the 4S’s special position.
The Targa tells two stories: In the long run of average prices to 2025, the Targa sat at the bottom of the scale (€98,000, just below the Cabriolet), with appreciation identical to the other models (+133 per cent). The June 2026 median sale prices paint a different picture: at €95,993 the Targa sits roughly €16,000 above the Cabriolet (€79,993) and €11,000 above the Coupé (€85,000). That suggests the market is re-rating the glass-roof concept, which on the 993 departed from the classic Targa design, while the change of method also explains part of it.
The base models converged, then separated again: In the average prices to 2025 the five base models converged strongly (differences of up to 5 per cent in 2011, only 1-4 per cent by 2025). The June 2026 median sale prices separate them more clearly again: roughly 20 per cent lies between the Cabriolet (€79,993) and the Targa (€95,993). In actual sales, then, the market is far from treating the body styles alike.
A cyclical, not a linear market: The long-run data shows a pronounced cyclical character: clearly visible booms (2014-2018 and 2021-2023), the consolidations that followed (2018-2020 and from 2024), and a market maturing into more moderate swings. Those cycles are typical of a maturing market and point to a more sustainable path for prices.
834 documented 993 sales, Turbo models excluded, from the MarqueScope SOLD archive (October 2025 to June 2026, de-duplicated and cleaned). Prices are the last recorded asking price of the car that sold; the medians cover all conditions and mileages. Transmissions follow the equipment data on the platform: cars confirmed as manuals are compared against all remaining sales.
| Model | Sales | Median | Range | Median km | Days on market |
|---|---|---|---|---|---|
| 993 Carrera | 243 | €85,000 | €46,500 - €379,000 | 126,250 | 18 days |
| 993 Carrera Cabriolet | 186 | €79,993 | €28,700 - €199,000 | 118,940 | 33 days |
| 993 Carrera Targa | 59 | €95,993 | €63,784 - €300,000 | 130,800 | 35 days |
| 993 Carrera 4 | 48 | €86,800 | €47,500 - €169,500 | 135,000 | 9 days |
| 993 Carrera 4 Cabriolet | 29 | €82,500 | €61,995 - €107,000 | 151,820 | 13 days |
| 993 Carrera 4S | 160 | €141,000 | €84,900 - €365,251 | 104,980 | 24 days |
| 993 Carrera S | 69 | €150,440 | €66,900 - €259,624 | 101,900 | 30 days |
| 993 Carrera RS | 23 | €334,593 | €160,000 - €649,995 | 81,180 | 128 days |
Corrections and quirks: 64 entries recorded by the platform as "993 Carrera 4" (50) and "993 Carrera 4 Targa" (14) turn out, on inspection of the raw data, to be Porsche 912s and modified early 911s of 1965-1969 (the registration dates and listing URLs are unambiguous); they were excluded entirely and not counted in the Targa cell. In any case the factory 993 Targa came only with rear-wheel drive. 13 duplicate listings (the same advertisement identifier under German and English URL paths) were counted as one sale each; 9 of those duplicates concern the cells analysed here, 4 the Turbo models covered separately. Not shown as rows of their own: "Carrera S Cabriolet" (5 sales, median €74,911), since the factory Carrera S was a Coupé only, so these are presumably S-look conversions or platform mislabels, and they sit strikingly below the standard Cabriolet; and "Carrera 3.8 Cabriolet" (3 sales, €85,000 to €135,000), which are conversions or one-offs. Outliers with no effect on the medians: the Carrera maximum of €379,000 is a one-off conversion (the ABT "9RS Artcar", 23,756 km), the Targa maximum of €300,000 a collector car with 500 km, the 4S maximum of €365,251 a car with 3,099 km. On the RS row, see the following section.
993 Carrera RS (1995-1996): The archive holds 25 RS entries with a sale price, two of which were corrected. One listing was first recorded at €275,000 but last carried at €27,000: an obvious artefact of the capture (presumably a missing zero), which is left out of the analysis. Two further listings with an identical mileage of 104,000 km (€289,911 and €298,000) were treated, as usual, as a relisting of the same car and count as one sale.
That leaves 23 documented RS sales: median €334,593, a range of €160,000 to €649,995 and a median mileage of 81,180 km. Every first registration falls plausibly in 1995 or 1996, and 19 cars are expressly recorded as manuals (the RS came only with a manual gearbox in any case). At a median of 128 days on the market, RS sales take by far the longest: a small, international collector market, with sales in Germany, France, the United Kingdom, Scandinavia and the United States among others, in which the best low-mileage cars pass the €450,000 mark.
| Model | Sales | Sale prices | First registration years | Mileage |
|---|---|---|---|---|
| 993 GT2 | 2 | €1,250,000 and €2,062,915 | 1996-1997 | 45,061 km and 89,897 km |
| 993 GT2 Evo | 1 | €1,036,366 | 1998 | 1,000 km |
| 993 3.8 Cup | 3 | €299,993 - €434,173 | 1994-1996 | 23,600 km and 28,401 km, one with no figure given |
| 993 Cup 3.8 RSR | 1 | €700,000 | 1998 | 14,200 km |
| 993 GT2 Tribute (replica) | 2 of 5 with a price | €121,267 and €125,000 | 1995-1997 | 125,000 km and 234,000 km |
With one to three sales per cell a median means nothing, so the actual sale prices or ranges are given. An important note: "GT2 Tribute" denotes cosmetic replicas built on regular 993s (one of the cars is expressly described in its listing as a Carrera S). At around €123,000 they trade at a fraction of genuine GT2 sales and are deliberately shown separately here; three further Tribute entries without a recorded sale price are not part of the analysis. Source: MarqueScope SOLD archive, Oct. 2025 to June 2026.
The investment potential of the Porsche 993 has to be reassessed in the light of the new long-run data. The cyclical nature of this market shows that timing matters more than has been assumed.
The steadily widening gap to the rest of the 993 family, and the combination of Turbo looks and suspension with the dependable naturally aspirated engine, make the 4S the pick of the range as an investment.
The classic Coupé shows the highest percentage appreciation (+140 per cent) and strikes a good balance between investment and usability.
The open variants have appreciated much as the closed cars have, but offer an extra measure of enjoyment on the road.
The Porsche 993 Carrera S still does not appear in the long-run price chart, because no comparable historical average series exists for it. With the June 2026 update, though, its special standing as a very rare car (only 3,714 built) with the appealing combination of the wide Turbo body and no rear wing can be backed with concrete sales data for the first time: 69 documented sales at a €150,440 median, the most expensive Carrera cell in the archive, ahead even of the Carrera 4S. Cars confirmed as manuals achieved a €173,390 median.
| Budget | Recommended | Reasoning |
|---|---|---|
| up to €80,000 | Carrera cabriolet | The cheapest reliable way into an air-cooled 993 (median €79,993); documented sales start at €28,700 for high-mileage cars |
| €80,000-€90,000 | Carrera Coupé or Carrera 4 | The core of the market: medians of €85,000 and €86,800; with 243 sales the Coupé offers by far the widest choice |
| €90,000-€105,000 | Carrera Targa or the best base models | The glass-roof concept, with rarity on its side (median €95,993); confirmed manual Coupés also fall in this band (median €91,425) |
| €105,000-€145,000 | Carrera 4S | The wide Turbo body with the naturally aspirated engine, a €141,000 median on 160 sales; confirmed manuals are the norm here |
| €145,000-€180,000 | Carrera S | The most expensive Carrera cell (median €150,440): rare, rear-wheel drive, Turbo looks without the rear wing; manual median €173,390 |
| over €180,000 | Carrera RS and the special models | RS median €334,593 (23 sales); GT2s and Cup racers sit in the six- and seven-figure collector segment |
The budget bands are derived from the June 2026 median sale prices in the MarqueScope SOLD archive. Within each band, condition, history, mileage and transmission decide where a car falls; on the rear-wheel-drive models, Tiptronic cars trade noticeably below the manuals.
Detailed expert knowledge on the 993 Carrera and Carrera S: weak points, inspection checklists, production figures, value-adding options and price forecasts.
The detailed long-run analysis for 2011-2025 and the clearly visible cycles allow a more realistic forecast for the years ahead. Two complete price cycles (2014-2018 and 2021-2024) support the following:
| Model | Value in 2025 | Forecast 2030 | Change |
|---|---|---|---|
| Carrera 4S Coupé | €128,000 | €145,000 - €155,000 | +13 to +21% |
| 993 Carrera base models (Coupé, Cabriolet, Targa) | €98,000 - €102,000 | €115,000 - €125,000 | +17 to +22% |
These estimates assume average annual appreciation of 2.5-4 per cent, allowing for cyclical swings; the reference point is the average price for well-kept cars (as at 2025), not the June 2026 median sale prices (note the change of method). Position as at June 2026: the Carrera 4S has already reached a €141,000 median sale price.
The long-run data shows the 993 market maturing. After two strong growth cycles, a gradual easing in the rate of appreciation is likely: from an average of 6-7 per cent a year over 2011-2025 to an expected 2.5-4 per cent over 2025-2030.
As the cars age, condition and originality are likely to matter still more. The gap between the best examples and average cars should keep widening.
A growing separation between museum-grade collector cars with minimal mileage and regularly driven enthusiast cars is likely, and it could lead to a clearer price gap between the two.
The 993’s position as the last air-cooled 911 that is also usable in a modern way secures it a special place in the classic market. That bridging position between old and new should help it hold its value over the long term.
Since its launch in 1993/94 the Porsche 911 Carrera (993) has established itself as an important milestone in the development of the 911, and it has appreciated impressively. As the last air-cooled 911 it holds a special place, reflected in a doubling of its value over the past 14 years.
The full long-run analysis for 2011-2025 also shows how cyclical this market is, with booms and corrections. For collectors and investors that is decisive for realistic timing and realistic expectations.
The consistent and growing premium on the wide-body cars is striking: the Carrera 4S has held its lead for 14 years, and in the June 2026 sales data the rare Carrera S goes to the top of the Carrera family at a €150,440 median. Among the base models the average prices had largely levelled out by 2025; the 2026 median sale prices show clearer differences again, above all the Targa’s lead over the Cabriolet. Buying by preference is still possible, but it now has a measurable price.
For investors and collectors the 993 remains an attractive proposition with solid potential, supported by its historical significance, its limited production run and its timeless design. Watching the cycles carefully and focusing on quality rather than on specific variants is likely to prove a better strategy than chasing short-term returns.
The mature 993 market offers a more realistic price structure today than it did a few years ago, with steadier prices and less room for speculation. That strengthens its standing as a long-term holding that also delivers an extraordinary experience on the road: the combination that gives this icon its particular appeal.
Data basis: the long-run figures to 2025 rest on market observation, sales statistics and expert assessment from a range of sources (average prices for well-kept cars, weighted 40% condition grade 1, 40% grade 2, 20% grade 3). The sales data from June 2026 that is marked as such comes from the MarqueScope SOLD archive (October 2025 to June 2026, de-duplicated and cleaned, marquescope.de): 834 analysed 993 sales, Turbo models excluded. All prices can vary considerably depending on specification, condition and mileage.
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