Air-cooled Pork feeding frenzy at Goodings Auction Amelia Island 2014

Air-cooled Pork feeding frenzy at Goodings Auction Amelia Island 2014

You knew this 2.7 RS Lightweight was estimated at a lofty $900k - $1.1m - but the result of it actually selling for $1,4m was a huge price!

Ok - it's an M471 lightweight and ticks all the boxes but thats still a big chunk of change.

Or is it?

This is an iconic very rare special car which has a great deal of resonance with the generation of uber well resourced buyers who in the face of low interest rates are looking at other "asset" classes to pile money into.

Of course this means inevitably our "hobby" is being hijacked by wealthy speculators - but whats new?

The reality is that, yes, of course new players are entering the game who could not give a flying **** about "Rennsport" Pork - and the tactile driving experience these lovely cars deliver in spades - but there are still a load of real enthusiasts who have got the financial firepower to indulge and in the face of a larger pool of collectors chasing a finite supply of cars - are driving the market up.

2 years ago at the 2012 Monterey Auction a 1973 Porsche 911 Carrera RS Lightweight Sold for $495,000 - $900k less than this example - but the question you would have to ask yourself is whether (assuming you had the money) - would you have dropped nearly half a bar into an M471 then?

This highwater mark is inevitably going to have a trickle down effect - what price now for a 2.7 RS touring? In practical terms it's a car which was only 15kg heavier and at launch time was 10% more expensive? Ok the M471 is rarer - 200/240 plays 1308 touring models - but it is still a 2.7 RS - and unless the Porsche beard force is strong most people are not going to be able to tell the difference behind the wheel or admiring it externally - so expect a market correction immediately.

Declaring a bit of self interest here - it might even affect less illustrious RS models like the 964 RS - which seem to be avoiding depreciation nicely ahem....:) - but the reality is that even if "your" car is becoming more valuable - and you sell it for a modest profit - what are you going to replace it with in respect of a car of similar ilk?

The other downside to these price rises - is that does it make you more anxious to use the car as intended - i.e on trackdays or events - fearful of wrapping up a sizeable pile of cash into an off-piste incident?

Simplez - there is an easy solution!

- Follow a methodology employed by a number of owners of uber valuable historic racecars - and go and build an exact replica - and track that instead!In the case of the RS - with current prices - a recreation is probably 10% of the value of your genuine car - which you can wrap in cotton wool ;) whilst spanking the nuts out of your faithful recreation - which probably offers 95% of the driving experience for about 10% of the cost.

Anyway - anyone knows of a Porsche 911 2.7 RS Carrera for sale - which belongs to an owner who has know idea of it's crazy value in today's market place - please let us know.

Goodings description on the Porsche 911 2.7 RS below:

1973 Porsche 911 Carrera 2.7 RS LightweightEstimate: $900,000 - $1,100,000 - Sold for $1.4m

Arguably the Most Recognizable Classic 911Desirable German Delivery, Second-Series M471 LightweightOne of Only 240 Such Examples ProducedOriginal Grand Prix White with Blue LiveryHighly Original ExampleMatching-Numbers Engine and TransmissionA Remarkably Pure and Sorted Carrera 2.7 RSEligible for Exclusive International Concours and Driving Events

http://www.goodingco.com/vehicle/1973-porsche-911-carrera-2-7-rs-lightweight/

Other stuff at the sale?

- Well the 959 Sport looked comparitively good value at $1.1m even if it had some "modifications"- The 300 SL "barnfind" at $2m feeds the frenzy of barnfind culture - there is a probably a business model out there for an enteprising "detailing" business to "barnfind" your classic in order to contribute to an immediate uplift in value!- The Porsche 718 RSK at $3m seemed light but probably market correct- Ferrari 246 GT Dino - 1 owner "chairs and flares" - $627k with commission - nearly double estimate!

Most gorgeous car at Gooding and Co Auction 2014

For me that's a no-brainer - the Porsche 907 Longtail - arguably the genesis of Porsche's endurance racing heritage - first Porsche to win a 24 hour race - extensive racing history.

The heartbreakingly swoopy Daytona 24 Hour winning Porsche 907 Longtail was a steal at $3.63m - a massively significant car in Porsche racing history - it ran at Le Mans a few times - and hilariously was pictured with a number plate on it's tail at Le Mans in period in the catalogue - presumably so that it could run on the road on occasion...

The 907 Longtail is just out and out car porn if you have any petrol coursing through your veins. The extremes Porsche went to make this racecar efficient through aerodynamics and serious lightening measures - drilled ignition key anyone??!! The key was placed on the left hand side of the dash so that when a driver started Le Mans he could start the car with his left hand whilst making sure it was out of gear/whacking it into first with his right.

This little honey came with a Vasek Polack sourced flat eight which revved to 8700 rpm - mmm...yes please!

http://www.goodingco.com/vehicle/1968-porsche-907-longtail/

Here is the Gooding and Co catalogue:

http://www.goodingco.com/auction/amelia-island-2014/  - they should be publishing all results soon


Related Market and Auction Articles

4,930 articles