After just three short months – well, two and a half, actually – my Porsche 928S has been sold and picked up by its new owner.
The Sprint and the Brumby both go tomorrow. As I said earlier in the week, change is afoot. More to come later.
To the 928, though…..
I never wrote much about the 928 here. That’s probably because I didn’t drive the car enough to connect with it and form a full opinion. That’s partly because of the cost of driving it regularly. It’s partly because of my Alfa Sprint, which I absolutely adore. And it’s partly because I knew I’d be selling it soon, from 2 weeks after I bought it (a new job came up in early March, one that will require a few significant changes).
I expected the 928 to feel faster than it did. It was certainly brisk, but I was probably seduced by my previous 968CS into thinking that the 928 could be brutal. I fully expected it to be an amazingly capable and genteel GT car – which it is – but I also expected some animal. I just didn’t get that animal feeling as much as I would have liked.
There are a few areas where the 928 is truly exceptional.
The first of these is the handling. The 928 is a burly beast with a big V8 lump at the front and yet it handles like a car with half the weight and half the cylinders. A GT car is supposed to make its money on comfortable long-range trips from city to city. The 928 does that with aplomb. But it’s the 928’s ability to carve its way along a B-road that really surprised me. Just fantastic.
The second is the styling. The 928 bleeds presence. When you look it, try to remember that it was designed in the early-mid 1970’s. There were a lot of very nice looking cars drawn at that time, but the 928 is unique in that the other cars still look like outstanding classic cars from the 1970’s. The 928 still looks quite contemporary today.
I’d wanted a 928 for a long time and I’m glad I scratched that particular itch. I wish it hadn’t cost me quite so much money – selling a car that’s not in demand when it’s not 100% and you’re pressed for time is a costly mix – but I’m still pleased enough to have had the experience. It’s an experience that I won’t try to replicate soon, and one that I’ll do my best to learn from.
And on that note, here are a few pictures. Sadly, not enough.
Well, it depends on your opinion of the 928, but it’s definitely old enough to be considered as a young classic. Bear in mind that it’s nearly 40 years since the 928 was first shown at Geneva Motor Show in 1977 and it went on sale later the same year.
This 928GT is for sale for the princely sum of A$35,000 and you’re probably thinking that’s a very optimistic price. BUT….. a good 928S from the mid-80’s can sell for up to $20K here, a good 928S4 can sell for up to $30K so it’s not totally unreasonable to see a 928GT going for $35,000.
This particular 928GT, however, has over 400,000kms on it. So while the GT is a higher spec model and $35K isn’t beyond the realms of possibility, you’d normally expect to see half that number of kilometers on it.
But that brings me back to the question – would you take a high mileage classic car over a garage queen?
In the 928’s case, I would. The 928’s V8 is almost military grade in terms of build quality. You don’t have to search far on the 928 forums to find examples with significantly more than 500,000kms with no signs of ageing when their engines have been opened up. If the maintenance has been done on time, there should be no problems with a car like this.
On the other hand, a garage queen that gets driven once every three months (if you count “driven” to mean driving on to a trailer to get towed to a car show) is more likely to give you all sorts of issues due to seals and gaskets being dried up.
I guess it all comes down to whether you like to drive your interesting car, or have it pristine for people to appreciate. Neither option is right or wrong. They’re just options.
What’s the highest mileage car you’ve ever bought?
And would you take a high-mile classic car over a garage queen? At what price?
I’m not someone recently given to re-hashing marketing press releases, but this one from Porsche Australia caught my eye when it landed in my inbox today.
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South Australian buys first Porsche … at 85 years of age
Adelaide’s Olaf Varley decided early this year to realise his dream and purchase his first Porsche: a brand new Cayman in racing yellow.
Nothing unusual about that, except Mr Varley waited a little longer than most for his dream car. He is 85 years of age.
“I had been walking into Porsche Centre Adelaide for around three years thinking about it, but when I saw the latest Cayman I knew it was time,” he said.
Like most Porsches sold in Australia, Mr Varley’s Cayman was built to his specific order. But unlike most purchasers, he left all the option boxes unchecked.
“I’ve only ever driven manual gearbox cars and while everyone says the Porsche double clutch (PDK) gearbox is terrific, I wasn’t planning to change the habits of a lifetime,” he said. So on the last day of January 2014 Mr. Varley placed his order for a base model Cayman with the standard six-speed manual gearbox.
The eye-catching yellow two-door Coupe arrived in mid-July and while Mr Varley is still getting acquanted with his new set of wheels, he says it is everything he expected of his first Porsche.
……when I saw the Cayman I thought ‘that’s for me’
“I’ve always had a passion for sporting cars in strong colours and always wanted a Porsche, but in the past I’ve had to make do with more utilitarian cars when we were bringing up the kids. Unfortunately they didn’t have Porsche Macans then!”
The first Cayman caught his eye when it was introduced in Australia in 2006 and he followed it keenly through its 987-series and latest 981-series iterations.
“I always liked the Boxster – it looked like the real sports car I always wanted – but when I saw the Cayman I thought ‘that’s for me’ but I wasn’t sure whether I should take the plunge.”
It went out of his mind; he bought a Japanese sports car; but then he read a review written by journalists driving the latest Cayman on the famous Targa Florio course in Sicily where many Porsche sports cars triumphed in the 1960s and early 1970s.
“It looked nice and I started making enquiries,” he said.
Now, some time on, he wonders why he waited so long before embracing Porsche ownership.
“We are still getting to know each other, but we are getting on fine,” he said. “My wife Ann and I are still to do a long trip, but we are working up to it, doing about 200 kms a week in the car. There’s no rush …”
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The first thing I love about this story is the sheer fact that Olaf did this. I feel pretty sure that Olaf’s had other performance cars in his lifetime but to pull the trigger on a Porsche at age 85 is admirable regardless of your circumstances.
The second thing I love is his dedication to a lifetime of three-pedalling. Long live the manual gearbox!
The third thing I love is that not only did Olaf do it, but he did it with flair – in Racing Yellow. No-one’s going to miss Olaf and Ann arriving at the bingo club this week 🙂
How stratospheric can a single car’s price go? Not only is this a genuine Porsche 917, it’s a Porsche 917 with actual race history. And not only is it a genuine Porsche 917 with race history, it was also used in a famous film about racing – Le Mans. And not only is it a Porsche 917 with genuine racing history and a famous film role, it was driven in that film by none other than Steve McQueen.
It’s fair to say that there are few cars in existence with such a distinguished and storied history. There are plenty of recognisable movie cars in the world, but the level of respect attached to this car puts it on another level all together. It’s the real deal.
Maybe we should have a nearest-the-pin style competition to guess the eventual selling price? The car will go under the hammer at Gooding & Co’s Pebble Beach Auction on August 16-17.
Here’s the press release:
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A Legendary Motor Sport Icon Set to Cross the Auction Block at Gooding & Company’s Pebble Beach Auctions
SANTA MONICA, Calif. (June 23, 2014) – Gooding & Company is thrilled to announce the addition of the 1969 Porsche 917K, chassis 917-024 (estimate upon request), featured in the film Le Mans (1971) to its Pebble Beach Auctions on August 16 and 17. The anniversary of the US release of Le Mans (1971) on June 23 in 1971 makes this a truly historic announcement. Set in the golden age of the sport, the film is one of most watched and revered racing motion pictures ever made. Le Mans (1971) features a cast of racing glitterati, including actor Steve McQueen, and a host of extraordinary race cars. 917-024 takes center stage at the height of the action as the Gulf 917 that claims the checkered flag in the film.
David Gooding, President: “917-024 is one of the most significant and recognizable racing cars ever to come to public auction, and we are thrilled to present the legendary Gulf 917 Porsche.”
Porsche designed and built the famed 917 model in the late 1960s to claim outright victory at the 24 Hours of Le Mans. Forming the foundation of this car is an incredibly lightweight aluminum space-frame chassis fitted with a streamlined fiberglass body. The Porsche 917 is an undisputed masterpiece of automotive engineering with both overwhelming success on the track and legions of racing fans around the world.
917-024 has the important distinction of being the first 917 model to compete in a race, which occured when it was entered by the Porsche works team at Spa Francorchamps in 1969. 917-024 was later enlisted by the legendary J.W. Automotive Engineering Ltd.-Gulf team at the 1970 Le Mans Test, where it was driven by Brian Redman and Mike Hailwood. Redman set the fastest times, proving that the 917 model was capable of winning. This car is easily recognized by its striking lines and iconic light blue and orange Gulf livery and boasts a magnificent air-cooled flat 12-cylinder engine.
Chassis 024 was then acquired by Porsche factory driver, Jo Siffert, who loaned it to Solar Productions for the film Le Mans (1971), which he and McQueen, along with many other celebrated racing figures, participated in creating. 917-024 remained in Siffert’s private ownership until his passing and led his funeral procession, reflecting the importance of this car in his career, before being sold to a private collector.
This 917 remained hidden and unknown for roughly 25 years, before re-emerging as perhaps the greatest ‘barn find’ ever. Since resurfacing in 2001, 917-024 has benefitted from an exceptional restoration.
Presented today, this is surely one of the most correct, culturally significant and important of the 917s, making it very easily one of the finest racing cars extant. Without question, the presence of 917-024 at auction is a momentous occasion, for the opportunity to acquire a car of this iconic stature is not to be missed.
The Pebble Beach Auctions
Date(s): Saturday, August 16 at 5:00 pm PST and Sunday, August 17 at 6:00 pm PST Location: Equestrian Center, Corner of Stevenson Drive and Portola Road, Pebble Beach Public preview: August 13-17 Auctions catalogues: $100, includes admission for two to the viewing and the auctions General admission: $40, includes admission for one to the viewing and the auctions Live auction broadcast: www.goodingco.com Facebook: www.facebook.com/GoodingCompany Twitter: @GoodingCompany
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My thanks to Dick L for passing this on. It’s a great story and it’ll be a thrill to follow to its conclusion.
Note: I’ve used car #20 as the featured image for this post on the front page of the website, but the car up for auction here was actually car #22 in the film. I used the car #20 picture because it was such a good still from the film. McQueen started the movie driving car #20, which is the one he crashed in the movie before taking over car #22 to finish the film.
As I sit here writing this, we’re around three hours from the end of Le Mans. Porsche is leading with the #2 Audi catching them at a pace fast enough to take the lead. Can Porsche hold on and claim a Le Mans victory in it’s first tilt in 14 years? It’ll be an outstanding achievement if they can.
But I wanted to share a little of Porsche’s media output during the race.
I recently gained access to Porsche’s press area and having spent a little time in this sphere myself, I have to say I’m super-impressed with the timeliness of their reporting. They must have a well-staffed, well-resourced media team on the ground at Le Mans. And given that the emails I’m receiving are from Porsche Cars Australia, I assume they’ve got all their regional PR people on point this weekend, too.
As I said, super-impressive.
I got a press release after qualifying and so far I’ve received a video and a press release during the race.
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The press releases are accompanied by bundles of high quality photos from the event and they’re landing in my inbox as the event is happening.
It’s only a small example, but this is one of the reasons that leading car companies are leading car companies. Attention to detail, quality product and a relentless drive to exceed expectations.
Which car do you think we’ll see available for sale first?
The Spyker B6 Venator, or
An electric Saab?
…. were almost split down the middle. Spyker held a handy lead right from the get-go but the Saab pollsters chimed in later and the result evened out by the end.
Thanks for your participation. I’m very keen to see which one will actually be built first. Actually, I’m keen to see if either of them will be built at all.
The article is about Spyker, but it does touch on the Saab years:
He couldn’t help but describe the experience in Biblical terms. “It was hell on Earth,” he said, taking care to emphasize every word. “The years 2010 and 2011 can only be described as hell on earth. Dante’s Inferno. I gave everything humanly possible to try and save my company. And I think a little bit more than that. And I almost killed myself in the process. It was hell.”
I can vouch for that. I’ve never seen someone work harder and the price he paid in terms of his health and his family was excessive.
It’s a good read and yes, I’m still cheering for VM to make it work.
Saab, too.
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18 new Saabs have been registered to private customers in Sweden this year.
As plenty of people have pointed out, the 9-3 was still a great car when it ceased production in 2011 and is, by all reports, still a good new car as made by NEVS today. But that’s according to the opinions of people who aren’t stumping up their own money to buy one. For those who are, the shortcomings attributable to the car’s age seem to be a stumbling block.
This path was always, always fraught with danger. A lack of engagement, a lack of feasible planning, a lack of sales and now the lack of a major investor have me very worried for our little Swedish brand.
Thanks to ctm for the sales info, via comments.
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Would you like an update on the GM Recall that will make you shudder and laugh at the same time?
I thought so. There’s a slight language warning with this one. And it goes on a little too long, but it’s still worth a look.
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Just another reason I’ll never buy a car designed and made by General Motors. (with the minor possible exception, one day, of a Saab 9-3 or 9-5 wagon).
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Some car designs we like, and some we don’t. Designers DO usually get it right, however, a point that’s only emphasised when you see their early design attempts at a particular model.
For example, here’s how the Porsche 911 might have looked…..
And here’s the concept car that spawned the Spyker C8 Laviolette:
They’re always interesting to see, but thank goodness the designers kept working on them 🙂
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And a little more Porsche, for those who like short films dedicated to old cars drifting in the snow….
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The guy featured in this film is Jeff Zwart (and I love the smile on his face in the driving shots – it’s what driving old cars is all about). He’s made films and photos of a lot of exotic cars over the years, as well as driven cars hard in various events, including Pike’s Peak.
He recently released a book about the Porsche 917 and it shows off his photography skills almost as much as it shows off the car. Delicious.
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And briefly, on my own Porsche shory…..
Parts have now arrived for my next major job – upgrading to M030 suspension. That’ll happen next month and I have a very special test drive planned to evaluate the changes 🙂
This is a long one – just over one hour – so set aside some sofa time with your favourite beverage and a few biscuits.
Living The Porsche is essentially a long-form advertisement for Autohaus Hamilton, a Porsche specialist workshop in Sydney, Australia. But describing it that way and failing to give you more would be a huge injustice to what is a fantastic Porsche film.
Porsche is a company dedicated to racing and most of their cars have been built with racing in mind. They’re engineered in such a way that nearly every Porsche model is a potential racer that can be used every day. OK, perhaps not some of the more recent money-spinners, but I digress….
This film has some regular road warriors in it, but most of the people profiled here do run their cars on the track, either in club racing, rallying or something more serious. The community buy-in to the Porsche racing ethos is no gimmick, as you’ll see.
Living The Porsche documents the experiences shared by this group of Autohaus Hamilton customers – their cars, their love for the brand, their build stories and yes, for some of them, their racing stories.
The primary focus is the 911, but I was pleased to see a couple of 968’s get a look in, too. If you’re into Porsches, this film is time well spent. Look past the early references to the business and you’ll see a group of truly passionate people that love their cars. If you’re a car nut, you know that’s exactly the way it should be.
You must be able to show an example of the car for sale somewhere in the world under that price (at a current rate of exchange).
The car has to be interesting.
The writer should be able to provide some short theory as to why it’s a possible long-term proposition for making a little money (or, at the very least, not losing you (much) money if you look after it properly).
Gavin’s already published his list. Now it’s my turn.
Here we go. Investment cars, a-la Swado.
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Porsche 911
Predictable, I know. But there’s a reason for that.
Want evidence that a classic 1980’s 911 is holding it’s price? I can’t find one under $30K to show you that’s a) Australian delivered, and b) unmodified. Those are the two basic criteria for buying a 911 here in Oz and a year ago, I would have had a bunch to show you. Now, not so much.
The 911 is always in demand but as with all older cars, the good ones are getting harder to find as time passes and climbing in price as a result. Get a good one and you’ll do well. Get a dud and the bills will be like an anchor around your neck.
This UK-spec 911SC Coupe was imported into Australia and looks neat for $28K, but you’d want to check underneath for rust. Imports will always be worth a little less than Australian delivered models, but you shouldn’t lose anything if the car’s in good shape.
For the best chance at appreciation, buy one delivered in your local market, especially if you live in a relatively dry climate. There’ll be less hassle with specifications meeting local standards, no poor steering conversions to worry about and if you’re in a country like Australia, very little concern about rust.
For you US types, a 1971 911T recently showed up on Craigslist for $25K. I didn’t see what price it ended up selling for, but after it was featured on Bring A Trailer the owner received more than 400 enquiries. I have a feeling the price went up after that. But it just goes to show that they DO become available at good prices sometimes.
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Lancia Fulvia
How could I not have a Fulvia on this list? It’s not just here because I like it, though. This is a real value-holder and in the right spec (and at the right price), a genuine investment.
The Fulvia is an acquired taste but in the 12 months or so that I’ve been interested in them, I’ve noted that there’s a definite audience interested in this beautifully engineered Italian. They generally sell for less than $30K. You’re more likely to pay in the region of $15K for a good basic car and $20K-upwards for one in really good condition.
I can’t find a current ad to show from Australia, but the 1600HF Lusso I shared here last month proves that if you’re patient enough, even a 1600 HF Lusso (series 2) can become available for under $30K.
The early 1600 HF’s are the real collector cars but the value pick is probably the 1300 Rallye S from the first series, which have the alloy hood, doors and boot lid. They’re good buying, great driving, they look absolutely beautiful and definitely hold their value.
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Mercedes Benz 380SL
Mercedes SL’s can be hot property, but most of the real investment-grade cars are already well over our $30K ceiling. A good R107 should provide some wonderful motoring without hurting your hip pocket, however, and they can be found in outstanding condition at this money.
I’ve picked a 380SL for my sample because if I was to buy a car like this, I’d want the V8. One of the real money spinners is the 280SL from around 10 years earlier. The gullwing’s in another class all together, of course.
Consider this beauty, for sale in Canberra for $25,000 right now. It looks magnificent in red with a cream leather interior and woodgrain. It’s old enough to look absolutely classic but young enough to have electric everything and ABS, too. Soft-top and hard-top, naturally.
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Maserati Ghibli GT
Here’s one for sale for $32K (the lowest priced Ghibli GT available in Oz), which is a little over budget but a skilled negotiator could pick it up in the high-20’s, I’m sure. You’d want to change the wheels to something a little more age-appropriate, but other than the wheels it’s a pretty nice looking piece of machinery.
This is a risky pick because Maseratis of this era tend to make your average punter run a mile in the other direction. Prices can go low for the BiTurbo but they’re pretty stable for the Ghibli, and the 100th birthday of Maserati, along with current desirability associated with the brand, means they could be poised for some reassessment by the motoring fraternity.
The second iteration of the Ghibli, built from the early 90’s to the late 90’s suffered from being related to the un-revered BiTurbo of the previous decade. Like many cars of similar tainted origin, however, the Ghibli is the type of car that addressed the problems of its forebear and can actually represent really good performance value thanks to it’s poor lineage acting like a boat anchor on its price. They’re reputed to be very reliable, but scheduled maintenance has to be done and the costs can be high.
Now, that’s not necessarily a recipe for value appreciation, but given the exotic nature of the Maserati name, the brand’s recent success and the generous performance and luxury levels of the Ghibli, it might just be one to be recognised. One of the problems, however, is that you’re looking at a very niche vehicle. In order to sell you have to have a buyer and there aren’t a lot of those for 90’s Maseratis.
Call it a very speculative pick.
The Ghibli GT had a 2.8 V6 with a twin-turbo setup that produced around 284hp. It moves. And I could live with a sound like this, too 🙂
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BMW M635CSi
The Shark’s already a popular BMW classic and can be had for around $20K in pretty good condition. The smart money’s on the M model, however, with its extra grunt and M badge appeal that helps to hold the car’s value.
The M635CSi has the hi-po version of BMW’s creamy straight-six making just over 280hp. That’s nice rather than nefarious by today’s standards, but it was extremely competitive in the early-mid 1980’s and a big step up from the 215hp offered in the non-M version.
The styling is superb and the interior is well equipped and comfortable.
The 6-series is already a favourite amongst classic BMW fans. To have a genuine M version of the car only makes it more popular and that means demand = price retention or even appreciation over time.
The car shown here is for sale in Australia but is of UK origin so you’d want to make sure it’s cancer-free. At $29,900 the price is right if the car checks out. Other M6’s are selling for up to $10K more.
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Alfa 105 Coupe 1750
As with the 911 and Fulvia, I’ve been watching Alfa 105 Coupe sales for some times now. And as with the 911 (less so with the Fulvia as they’re not so readily available) the prices for a decent one seem to be going up. Especially for the sweet-spot 1750 engine models.
It wasn’t so long ago that I could show you a number of 105’s around the $10-$15K mark and they would have all been decent, turn-key classics that you could happily take to your Alfa club meeting or on a nice Sunday drive. 1750’s are in shorter supply, however, and the good ones are all starting around $20K now and go up from there.
This one’s for sale right now for $21,000 and the only 1750 selling for less is a $6500 project that you wouldn’t touch unless you had a bunch of time and money to pour into it.
The market says they’re going up right now, but I’d be a little nervous as those $15K cars might hit the sales pages again once their new owners have had their fun. But a properly sorted 1750 (if that’s what this is – buyer beware) is at that point where the good ones are rare enough to be very desirable and unlike the Ghibli, above, you’re selling into a much bigger potential ownership base.
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Volvo P1800 S
I’m not sure that a Volvo will ever be considered as a real investment, but if there was ever a Volvo that might, it’d be the P1800.
It’s the most beautiful Volvo ever made, with timeless exterior styling and a beautiful interior to match, especially the early interiors like the one on this 1966 car, for sale right now in Queensland for $26,000.
Some people like the shooting-brake ES model but I much prefer the coupe styling of the S. The P1800 is no race car with it’s 4-cyl 1780cc engine but it’ll get down the road nicely and if you want to know about reliability, just ask Irv Gordon, who’s passed the 3-million mile mark in his P1800 S since that video was made.
As I said, it’s not likely to go up, but if it’s looked after properly, a good P1800 S is very unlikely to go down.
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So there they are: my 7 classic investment cars for under $30,000 – cars that I reckon have some potential to make you a little bit of money (or at least prevent you losing much money). Do your homework, though, as this isn’t investment advice. It’s just my opinion.
If you source them wisely and look after them properly then I think you’ll pay very little in rent over your ownership period and have a very enjoyable time driving them, too.
I have a confession to make. I’ve always – always – been a fan of the old Porsche 911 Targa. You know the one, the ‘lunch pail’ model that most 911 purists talk about with a tone of voice that could rarely be described as ‘fond’.
Photo above from Boldride, which has a nice article on the history of the Targa.
Not only is the old Targa usually more affordable than a Coupe of the same age, but there’s also something quite elegant about it, something appealing about the versatility. It’s probably not the 911 to buy if you want to properly learn the dark art of rear-engined driving, but it’s the exact 911 to consider if you want a more affordable 911 that’ll give you a wonderful afternoon on a country road somewhere.
Porsche has used the press days at the 2014 NAIAS in Detroit to unveil a new 911 Targa. The old Targa had a pull-out roof held in by a couple of clips. Of course, that arrangement is far too primitive for a modern Porsche so the whole Targa concept has become a mechnised party-trick.
Skip the architectural bollocks in the video below and go straight to the 45 second mark to see the roof in action. There’s also an animation at the 911 Targa microsite.
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The 911 Targa will be a 2015 model and the full badging will be either the 911 Targa 4 or the 911 Targa 4S. The ‘4’ that’s common to both variants denotes 4WD, which is the only configuration available. The decision, then, is between whether you buy the ‘S’ or not.
The ‘S’ gets you a 3.8 litre engine with 400hp and the non-S car will have a 3.4 with 350hp. That’s plenty of poke in anyone’s language.
What do you reckon? Hot or Not?
I like the whole Targa concept on the right car and I’m quite sure Porsche will have sorted any concerns about chassis rigidity. I’m a fan.
If you’ve been on a tour of a modern car factory, this old video about Porsche is going to make you giggle. If you’ve got even a basic awareness of modern health and safety protocols, it’ll blow your mind. Either way, it’s super-interesting and a great look into quality car building in yesterday’s world.
This is a video tour showing the build process for the Porsche 356. Think Megafactories, 1950’s style. While everything’s basically done by hand there are still some extraordinary machines and the commitment to quality is evident throughout.
