RM Sotheby’s | Porsche 911 GT2 Sells for £1.8m
It’s a well-known fact that Porsche cars are – for the most part – a fantastic investment. They effectively have their own stock market and seemingly it is one of the most buoyant in the classic car arena. We regularly report on here and in the pages of GT Porsche magazine about recent results from auctions and other sales events, however we were slightly taken aback by the results of last night’s (7th September) RM Sotheby’s auction.
The big story on the night was a 1995 Riviera Blue 911 GT2. One of fewer than 60 road-going GT2s in the world, it is completely original and has covered just 12,370km since new. It was originally purchased from Porsche Zentrum Ludwigsburg in Germany and came with all the relevant original documentation. Obviously, given the small numbers, it’s rare for GT2s to come onto the market, but we were still shocked at the final sale price. It ultimately smashed the estimate of between £750,000 and £850,000 by almost a million pounds, eventually selling for £1,848,000. This remarkable price certainly raised a few eyebrows over on Twitter!
Another big shock came in the form of a Speed Yellow 1993 964 Turbo S Lightweight. Yes, it might be one of only 86 built, and yes it had only covered 6,303km since new, but the sale price of £974,400 was pretty extraordinary. For perspective, it was guided at £210,000 to £250,000.
As if the £2.8 million spent on those two cars alone wasn’t enough, a Silver Metallic 964 RS 3.8 – one of only 55 built – sold for £716,800, a full £216,800 over its upper estimate. Similarly, a 1995 993 Carrera RS Clubsport, one of the last limited run air-cooled Porsches, went for almost double its estimate. With the book suggesting between £220,000 and £260,000, the hammer eventually fell at £403,200.
Taking things back to the early days of Porsche was a rare right hand drive 356 Pre-A Speedster, in this case fitted with the larger 1,600 Type 616/1 engine as a run-out model. Only 19 are documented to have left the factory, with this particular car being number seven in that list. Having spent its early days in the British Crown Colony of Hong Kong, it eventually ended up in a Lincolnshire barn where it stood for 25 years until recently. Despite being in restoration condition and valued at £150,000 – £180,000, it sold for a cool £229,600.
There was some semblance of normality among the sale prices, however, with two 930 Turbos selling for amounts more in line with their estimates. A very original Copper Brown Metallic car from 1977 sold for £10,000 over its upper estimate at £140,000, and a later 1989 version with the sought after G50 gearbox actually undercut its lower estimate by £3,600 eventually selling for £106,400.
It really is an investors’ game with Porsche at the present time with the seemingly stratospheric rise in values continuing unabated. Whilst it’s likely these cars end up in a collection, at GT Porsche we hope they are used and loved as Porsche intended when they left the factory.