A sign of the times, or a crazy one-off?
Classic Porsche 911s have become a very not property on the collector car market in recent years. For example, 10 or 15 years ago a good example of the early 1970s 911T would only have cost around $50,00. Today you would be lucky to find the same car for much less than $200,000.
Prices of later 1980s and 1990s air-cooled 911s have gradually been rising in tandem with those being asked for their older brethren, but remain comparatively affordable. Even limited edition cars. At least, that was the theory, but the results from RM Sotheby’s London sale earlier this week may have blown that theory out of the water.
A collection of eight 911s were consigned to the sale from an avid German collector of limited edition models, and four went for world record prices. By significant margins.
The four record-breaking cars were all homologation models, in extremely good, low mileage condition. The 1995 993 Carrera RS Clubsport - one of 100 built - reached the lowest price of £403,200 ($535,983). The hammer came down on the 1993 964 Carrera RS 3.8 - one of 55 built - at £716,800 ($952,960), moving the benchmark on nearly half a million pounds.
Next up was the 1993 964 Turbo S Lightweight which reached £974,400 ($1,295,294), a clear world record price for any 964-generation 911. But even that price was dwarfed by the top bid for the 1995 993 GT2, which was a staggering £1,848,000 ($2,456,809).
The other cars in the collection included a 1989 930 Turbo which sold for £106,400 ($1141,436), a 1977 930 Turbo which sold for £140,000 ($186,100), a 1973 911 Carrera RS 2.7 Lightweight which sold for £224,000 ($297,760), and a 1998 993 Turbo S which sold for £313,600 ($416,913)
Add that lot together and the collection made £4,726,400 ($6,282,912), or nearly a quarter of the £21.65 million ($28.78 million) total amount the sale raised.
It’s too soon to say if the record-breaking prices genuinely reflect a shift in the market. If it turns out they do, then modern, limited edition air-cooled 911s have achieved blue chip status in the collector car world. But for now they remain anomalies, the result of a frantic bidding war.