Collectible car auction: Porsche reved up their engine at Place Vauban in Paris, France
It may only be February, but the results from the RM Sotheby’s Paris classic car auction suggest that 2017 is shaping up to be the year that Porsche comes into its own as a collectable marque.
The finesse of German engineering has created Porsches that are phenomenal fun to drive. However, they have never performed phenomenally well at auctions. Although the technology helps them get around a track quickly, it also ensures that they do not disintegrate into rust. As a result, 86% of all 911s ever built are still on the road. Porsches simply aren’t as elusive as their counterparts, and that’s why the marque has yet to reach the same classic car heights as Ferrari or Aston Martin.
However, all of that is changing. Of the 76 automotive lots included in last week’s sale at Place Vauban in Paris‘s well-heeled seventh arrondissement, 26 were Porsches — the oldest a 1955 356 Pre-A 1600 Speedster and the newest, a 2016 911R with just delivery mileage on the clock. But regardless of age, all of the Porsches up for auction generated huge bidding battles and set records in the process.
An ultra-rare 1988 Porsche 959 Sport went under the hammer for a world record figure of €1,960,000. A prototype convertible 901 from 1964 (the year before Peugeot forced Porsche to rename the car the 911 because of potential copyright infringement) secured a winning bid of €649,600. And the aforementioned speedster also achieved a €369,600 sale price.
However, the big surprises came when essentially modern cars form Stuttgart were offered. A 1994 Porsche 911 Turbo S 3.6 fetched €901,600; a 2010 911 GT3 RSR went for €470.400 (two times its estimate); and a 1995 Porsche 911 Turbo Cabriolet for a phenomenal €1,344,000.
Even a 2016 911R — which six months ago was bought from Porsche for €150,000 — sold for €515,200. “Clearly, Porsche is still the star marque in the ascendance,” said Peter Wallman, Managing Director, RM Sotheby’s Europe, referencing the company’s recent London sale last September where a collection of perfectly preserved Porsche 911s went for huge sums.
“That sale was a game changer for Porsche,” explains RM Sotheby’s spokesperson Peter Hynes “Those cars went for what can only be described as ‘crazy money,’ the likes of which the market had never seen before.”
Wednesday’s results suggest that the London sale was no flash in the pan and that demand for Porsche is about to hit a peak. And we won’t have to wait long to see if this trend is set to continue. At Amelia Island, on March 10-11 there will be a further 22 Porsches going up for auction.