Hemmings’ Quick Guide To The 1997-2004 Porsche Boxster

The first-generation 1997-2004 986 is the cheapest Porsche Boxster, and the cheapest water-cooled Porsche that you can buy. To be clear, we’re not talking about front-engine 1980s nostalgia. We are talking about the cars that saved Porsche from failure in the 1990s that featured convertible tops, mid-engine layouts, EFI and electronic controls, modern suspension, modern tire and wheel sizes, and a lot of performance for the buck. We looked at the market, and here is what we found.

The 1996-2004 Boxster (“986”, in Porsche internal code) was initially powered by a 2.5-liter six-cylinder engine that was stroked to 2.7-liter in 2000 and bored to 3.2-liter for the Model S that same year. The Boxster engines made between 200 and 250 horsepower using a four-valve overhead cam valvetrain. The 986 was available with the Tiptronic five-speed automatic transaxle with shift buttons on the steering wheel, or a five-speed manual. The Boxster S was available with a six-speed manual.

Porsche Boxster 2.7-Liter Tiptronic 2000-2004

2002 Porsche Boxster

This 2002 Porsche Boxster was the lowest priced Boxster we found on Hemmings at $8,000. For the money, this example has 78,000 miles and only three owners. (We’re not sure if that is good or bad.) We like that the Intermediate Shaft Bearing (IMS) had been serviced and there are new cup holders (crucial to Cars and Coffee performance). This 2002 has the 2.7-liter engine that makes 217 hp and the Tiptronic automatic transmission so you can shift from the steering wheel in manual mode.
  • The average five-year sale price for a 2002 Porsche Boxster is $18,000*, with a low of $4,200 (Manual transmission, right-hand drive, 130,000 miles) and a high of $35,000 for a Boxster S with 21,000 miles and a six-speed manual.

*rounded to the nearest $1,000.

Porsche Boxster 2.5-Liter Five-Speed Manual 1997-1999

1999 Porsche Boxster

We also found a manual transmission version of the 986 for sale. This 1999 Porsche Boxster has the five-speed and a $15,000 price tag and only 71,000 miles. There is no mention of IMS service, only that the car has some options like 18-inch wheels and electric mirrors. This is a 2.5-liter six-cylinder car that makes 201 horsepower.
  • The average five-year sale price for a 1999 Porsche Boxster is $14,000, with a low of $3,268 (Manual transmission, right-hand drive, 132,000 miles) and a high of $27,500 for a 2.5-liter Boxster with a five-speed manual transmission and 11,700 miles.

Porsche Boxster S 550 Spyder 3.2-Liter Manual 2004

Prices for the Model S jump by as much as $10,000 if you are looking to get the six-speed transmission and the later 3.2-liter, 258hp six-cylinder engine and $20,000 to get a hold of a special edition S550 Spyder. This 2004 Porsche Boxster S 550 Spyder represents the top end of the 986 market at $34,000 with 55,000 miles, IMS service, leather, a monster sound system and GPS, and several factory optioned goodies.

  • The average five-year sale price for a 2004 Porsche Boxster S is $19,000, with a low of $4,869 (Manual transmission, right-hand drive, 133,000 miles) and a high of $36,000 for a 2004 Porsche Boxster S 500 Anniversary Edition with a six-speed transmission and 34,000 miles.

Five Year Porsche Boxster Values

  • 1997: Low-$4,433; Avg.-$16,304; High-$42,000
  • 1998: Low-$6,050; Avg.-$13,879; High-$29,750
  • 1999: Low-$3,268; Avg.-$13,768; High-$27,500

Boxster/Boxster S

  • 2000: Low-$4,400; Avg.-$16,968; High-$39,200
  • 2001: Low-$4,400; Avg.-$16,265; High-$38,289
  • 2002: Low-$4,269; Avg.-$17,178; High-$45,251
  • 2003: Low-$3,857; Avg.-$16,621; High-$40,500
  • 2004: Low-$5,046; Avg.-$18,857; High-$36,000


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