One bright spark in my inbox this morning was this nicely preserved Porsche 550A Spyder, which is heading for the Bonhams Scottsdale auction in January.
There can’t be too many 550A Spyders left with the provenance of this one. Apparently the penultimate 550A Spyder produced, chassis number 0145 began its racing life in the 1958 season, including taking part in the Dutch Grand Prix at Zandvoort, where it finished 11th. Eleventh was also last place but owning an ex-Grand Prix Porsche is a good story.
Going by some online detectiving, this particular 550A has been with the current owner since 2013, and appeared back on the market in 2015 with Fiskens at Retromobile Paris. Offered for sale at $6.5 million back then, it subsequently popped up again at Goodings Pebble Beach sale the following year, with an estimate of five to six million dollars – quite a bit lower. No estimate has been placed on 0145 for Scottsdale just yet, so Bonham’s sense of where the market might be for the car will be interesting. My own feeling is that they will match Goodings’ guidelines at 5 to 6 million dollars.
Porsche 550A Spyder race history
One previous sales text for the car says it was a works race car, competing at four events through 1958 before passing into private hands, but another text tells a different story, with the car being bought by privateer Count Carol Godin de Beaufort from new and raced all over Europe, including Aspern-Vienna airport, Nürburgring 1000kms, Dutch Grand Prix, Le Mans 24 hours, the 12 Hours of Rheims, Zandvoort NAV, Trento-Bondone hillclimb, 10 Hours of Messina, Zandvoort, the Rheinland Palatine Prize, Nürburging Grand Prix, Karlskoga Grand Prix, Goodwood, Innsbruck and more.
After Count Carol sold the car, it spent time in Canada and then sold into America, where it raced extensively. It came home to Germany in the early 1990s and then moved to Italy in 2002, with an owner who campaigned it on ten Mille Miglia reruns. Good times! Now it is back up for sale.
Scottsdale is always an interesting auction. It takes place at the start of the year, when many classic collectors may be feeling less certain about how tastes have changed through the end of the previous year. Some come into the new year feeling upbeat about prospects but hanging back on bidding just to see what their rivals think. Other buyers will be looking to score a bargain and this can encourage some competitive bidding up to a preset maximum, usually well below the reserve. It is then up to the auctioneer to keep bids coming in, with the backroom team trying to make a deal happen if the car fails to sell on the block.
550 Spyders are often a good signpost on high end collector sentiment. A nicely patinated but unraced 550 was offered at Goodwood Revival in Sep 2016 and sold for £4.6 million – just over $6 million at current exchange rates but well short of the £6.2 million top estimate. How this is estimated and what it actually tops out at (or sells for) will set a tone for the start of 2018. All very interesting.
Photos by Bonhams/P. Litwinski
Ferdinand blogs my freelance adventure with Porsche at the centre. To support the blog or engage with me in other ways, you can:
Very sad to hear that Peter Schutz has died. The 911 and its fans have Peter to thank for saving their bacon – he was the man who took over the loss-making Porsche as CEO in 1981 and famously walked into a product meeting where the 911 production graph on the wall stopped the same year. He picked up a marker and continued the line off the chart, over the desk, across the wall and out the door.
“Do we understand?” asked Peter. Those present must have got it, as the 911 subsequently went from strength to strength. The legend that is Ray Shaffer at Porsche Cars North America put some words about Schutz on his Instagram and I share them below. Ray knew Peter personally and he hits the spot nicely.
With his passing this weekend, we’ve lost a dear friend, father, husband, leader and mentor in Peter W. Schutz. He leaves this world a better place than the one he found, with his everlasting legacy and thoughtful teachings.
In the Porsche community, he was the man who invited Ferry Porsche back to his office in Stuttgart. He “saved” the 911 model and helped secure its future by championing the Cabriolet, Speedster and 959 developments and by listening to those around him – people like Porsche, Bott, Falk, Singer, Jantke, to name only a few. Peter also let the people of Porsche know their purpose by famously declaring: “as long as I am in charge of this company, we will never go to any race without the objective of winning.”
Peter was a great friend of the late Bob Snodgrass and the family of Brumos Porsche. When Bob passed in 2007, Peter was the first person to contact me. I will never forget the thoughtful letter of care and concern he wrote about how to keep the Brumos spirit alive. It became my “go to” reference piece that would serve me well during my tenure as general manager. But I was not alone. Peter was a mentor to many personally and through the pages of his excellent book, The Driving Force.
With thoughts and prayers for Sheila, Lori and the entire Schutz family. Godspeed, Peter.
Peter stayed with Porsche until 1987 and was 87 when he passed. From what I have read, he lived a great life and his work certainly had an untold impact on my career, in many ways bested only by Ferry himself. I cannot begin to describe how many lessons from Peter’s career have embedded themselves in my outlook. He was truly a unique individual.
RIP Peter: forever an unforgettable part of Porsche history.
EB Motorsport has unveiled its latest Porsche project: a beautifully detailed recreation of the legendary Porsche 911R, built to celebrate the fiftieth anniversary of the R’s record-breaking 20,000-kilometre endurance speed run at Monza in Italy in 1967.
In October 1967, Porsche sent its 906 race car to Monza, to break endurance speed records. When the 906 proved unable to withstand the rigours of Monza over extended distances, a prototype 911R was called for. Driven on its own wheels directly from Stuttgart and fitted with a test engine which had already logged 100 hours of flat-out running, the lightweight R claimed five world records, including covering 20,000 kilometres at an average speed of 209 km/h. It was a memorable moment in 911 history.
“Porsche motorsport history underpins all that we do,” says James Bates at EB. “Having successfully campaigned our 3.0 RS and RSR race cars for many years before adding the SWB 2.0 race car, which then finished as first 911 home in the Spa 6 Hours, we were keen to explore the edges of lightweight Porsche racing, so the R was a natural progression.
“Our new 911R showcases everything that EB Motorsport can accomplish and is fascinated by. Built on a 1967-manufactured SWB 911 chassis, which was fully restored in-house and now tops the scales at 804 kilograms in Monza trim, our 911R is loaded with meticulous hand-finished details, from bespoke brake parts and 906-style inlet manifolds, to our lightweight doors and in-house exhaust system with megaphone soundtrack.
“We’re excited to unveil the R on such a special anniversary. Our plan is to film some souvenir footage with it before offering it for sale later this year. Many of its unique components will be also added to our historic Porsche parts product range, so people can build their own interpretations of this legendary 911.”
Having seen the EB Porsche 911R up close and personal, there is no doubting its quality. Many of the closest R recreations I have seen up to now have been a bit wavy and a little bit delicate – much like the genuine R prototype my car once shared a pit lane with at Silverstone. This one is a more substantial piece of engineering that looks every inch an all-steel 911, but shows a stunningly low number on the scales.
The 911R’s passed its MOT but has yet to be registered. As soon as the Letter of Origin arrives from Porsche, the boys will get some paperwork, tax it and then we can take it up over Snake Pass. I’m looking forward to having a spin.
Ferdinand blogs my freelance adventure with Porsche at the centre. To support the blog or engage with me in other ways, you can:
There’s been good interest in Porsche tractors at auction all year, so it will be interesting to follow this 18hp Allgaier Porsche tractor through the auction at Brooklands Historics on November 25th. Porsche tractors are a fascination to me and, while prices have still not gone crazy, their simple, honest and ego-free nature makes them a superb place to put a bit of cash in my view, especially if you have a bit of land to enjoy them on.
Having kicked off the people’s car concept with the VW Beetle, Porsche turned its focus to the land, creating a range of strong and reliable tractors for the masses. The first designs were registered in the early 1930s, but after WWII, only companies that had been making tractors before and during the war were allowed to produce agricultural machinery. So Porsche put its clever designs up for licencing and partnered with two companies: Allgaier in Germany and Hofherr Schrantz in Austria.
Produced as “Porsche System” products, more than 125,000 tractors were built under this arrangement from the 1950s until 1963. The old Zeppelin factory was used by Mannesmann, who took over Allgaier production from the mid-1950s.
The Brooklands tractor is an 18 hp, two-cylinder model from 1957. Originally supplied to an estate in the south of France, it eventually passed to a Belgian doctor in 2009, who restored it to immaculate condition and stored it in his drawing room. It was later sold to an historic racing driver and is now coming up for auction.
Brooklands estimate the tractor at £10-15k, which sounds about right to generate interest. The end result probably depends on how much activity it attracts amongst European buyers, so it could even go higher that that. I spoke to my friend, Michael Hodges, at Brooklands and got his take on the current classic market, which is broadly in line with how I am finding things.
“Things remain buoyant as far as historics are concerned, with a consistently high sales ratio. Last sale was a little down, but the market has hardened. As you know, the market has been high for a very long time. We find that classic Porsches remain good when realistically priced, but some sellers have unrealistic expectations.
“Some market commentary – generally from the less informed – is not helpful, nor accurate. Certainly, at the high end of the investment market, buyers are more cautious but it’s inappropriate to suggest that’s representative of the market as a whole.”
I am hoping to make it to Brooklands and watch the tractor go through. With 140 lots including 44 vehicles consigned for this sale, there are a few more interesting cars open for bidding, including a LHD Gen 1 GT3 in Viper Green with 39,500 kms, which is estimated at £115-140k. The sales results will make interesting additions to my Porsche Valuations database. More news from Brooklands later.
Ferdinand blogs my freelance adventure with Porsche at the centre. To support the blog or engage with me in other ways, you can:
One of the rare RHD Porsche 964 RS Touring models has just sold for quite strong money at the Silverstone Auctions Porsche sale, creating an interesting data point for my Porsche-centric classic car insurance valuation service.
Everyone knows how the 964RS was the first 911 to sport the desirable RS designation. Like the 2.7 RS, the cars developed from racing and were available in two model specifications: Lightweight and Touring. Most 964RS models were Lightweights, with just a handful of RS Tourings being built.
I’ve come into contact with the RHD Tourings several times in the past through dealer clients and RS-owning friends. I value a couple for insurance, and it was one of my valuation customers who emailed me from the sale to let me know how things were going.
The RHD Porsche 964RS Touring just sold at auction was chassis number 491385. Built in early 1992, the spec included black paint with black trim, sports seats with the tri-colour inlays and a sunroof. The RS was sent to JCT Brooklands and – would you believe this – did not sell until September 1993. The consigning entrant was owner number five, who purchased the car from Josh Sadler at Autofarm in 2002.
There’s a bit of paperwork with the car, which presumably confirmed the declared mileage of just 51,000, albeit that confirmation is not mentioned. It had some mechanical work at 46k with my former clients JZM Porsche, who fitted an upgraded exhaust . The RS then had a thorough inspection at 51k miles, with full service, four new tyres and chassis alignment carried out by the guys at RPM Technik in Buckinghamshire.
“Early lots failed to hit their bottom estimate,” reported my source at the sale. “I think they over-egged the estimates, so some of the sellers might be disappointed. I was surprised at the [high] prices of the front-engined cars, though.
“The RS shot up to £185k very quickly, so it was obvious that many people had come specifically to bid on this 911. The pent-up demand released and then bidding began to slow down. It finished at £195,000 plus commission and VAT, which totals to £219,375.”
This tallies with what I was expecting the rare RS to achieve: not quite £200k, but not far away from it. I have updated my RS data accordingly – just goes to show what difference rarity with low mileage can make in what is currently a very slow market for ‘regular’ Porsche sales.
Pics from the Silverstone Auctions website
Ferdinand blogs my freelance adventure with Porsche at the centre. To support the blog or engage with me in other ways, you can:
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