For many years we have made the claim that we are not Porsche experts. Until now, we have not invested into any Porsche models and we have even passed on some great opportunities sending both cars and clients to some of our dealer friends heavily involved in the Porsche community.
Its not that we don’t like Porsches, we actually love them! I have personally owned a 2011 GT3RS (which I used as a daily driver) and I continue to lust after the incredible Carrera GT. (Which is arguably one of my favorite cars to drive.)
The reality is that the there are many Porsche experts far more knowledgeable about the brand than myself, and in my honest opinion the Porsche market got far too expensive, too quick. As we predicted, over the past 16 months prices have slowly come back to reality and even some examples became cheap!
While the overall production of Porsche models is almost always greater than the limited production of Ferrari and Lamborghini models, Porsches are more reliable and more user friendly than the sports and exotic cars from Italy. Thus, the Porsche collecting community is vast and there are a great number of buyers and collectors when compared.
We recently purchased a 1994 Porsche 911 Speedster. In its original Black paint with 23,000 original miles complete with books, tools, records and optional Sport seats, the 911 Speedster presented itself very well! After a week of thoroughly detailing and documenting every inch of the car, it made its way onto our showroom floor. Amazingly, the car was very well received amongst our other Supercar inventory.
So how did we end up with a 964 Speedster?
I have always loved the 964 model range and specifically the Speedster. Porsche planned to produce 3,000 cars between 1992-1994, but due to its unpopularity, only 936 were made for the world. Of that, only 427 made its way to the USA. A very low production number considering the average production of even limited 911 series cars.
For years these cars sold between $40,000-75,000.00 and as the Porsche market heated up, Some 964 Speedster examples publically sold for $175,000 and a touch over $205,000. Historically, dealers and owners were asking as much as $275,000 but I am not aware of any transactions reaching that peak. Arguably this data is not entirely accurate considering not many 964 Speedsters have traded hands.
Remember, this is compared to the widely loved 1989 911 Speedster which Porsche produced just over 2,000 cars and at the peak of the market traded between $220,000-$363,000 at auction. These cars have drastically come down in price and average asking prices now range between $170,000-180,000.00.
Depending upon condition at $140,000-170,000.00 we think the 964 Speedster is a great buy. Its quite rare, usable, great looking and was never really part of the Porsche explosion between 2012-2015. It sort of lamented along and was always the lesser desirable of the bunch, and that’s what makes the story even more interesting 10 years from now…