by John Glynn | Mar 7, 2017 | New Models, Market & Prices
The new Porsche 991 GT3 was launched today at Geneva in a supersized Internet love-in. If you like massive sportscars weighing 1500 kilos then you are probably all over it: I hope you will pardon the rest of us for a certain lack of euphoria. It is nothing personal.
The new GT3 looks almost exactly the same as the old one, with the one big change of manual transmission. It is a small but very satisfying detail. When the 991 GT3 was first launched with PDK only, there was uproar online, but it didn’t hurt the showroom one bit. Despite the early cars catching fire when con rod bolts snapped, causing boiling oil to pour onto hot exhausts and send the cars up in smoke, Porsche sold every single 991 GT3 it could build.
And Stuttgart built lots of them: estimates suggest more than 6k cars, which is far more than any previous 911 GT3. Magazines were rinsed and repeated in PR about how PDK was the gold standard in race cars and how it was faster around the blah blah blah etc, and they all lapped it up. Driving a Gen I Porsche 911 GT3 around a car park was enough to put me off and visiting a PDK repair shop just confirmed the position. Anyone with an ounce of 911 soul might have seen the writing on the wall for the PDK-only plan, as the cars were not that nice to drive ‘normally’.
Despite the PDK-only thing and a non-stop production line, used GT3s soon hit 50% over list. Many 991 GT3ers cashed out, switching back to the Gen II 997 GT3 and RS with manual transmission and sending prices for those cars through the roof. The switch did not escape Stuttgart’s product chiefs, who then announced a limited edition 911R with manual shift, allowing them to test latent demand. When that model was oversubscribed several times over (the eternal new-Porsche battle of drivers vs sellers), it was obvious that 911R development was not money wasted. All the PDK spiel was deleted from memory and the stick shift was on its way back to GT3 land.
Now the Gen II 991 GT3 with manual transmission has been announced and I have already had calls from price-conscious insurance valuation customers, asking what various GT Porsches might be worth in part exchange: a topic for another time. More interesting is what a 911R is now worth.
We have all seen 911Rs listed anything up to £500k. The most recent car sold in public was the Slate Grey McQueen one in Paris, which went for £451,000 ($553,000) including premium. However, if you’ve spent enough money with your local Porsche dealer in the last few months, you can now order a 490bhp/197mph 911 GT3 with manual transmission for prices starting at £112k: essentially what a nice-spec used LHD Gen 1 991 GT3 example costs in the UK .
No doubt 911R is still a major collectable, but the £400k prices may have just left the building. As for 997.2 GT3 RS and 4-litre RS, we will see what happens. Maybe nothing – probably not very much.
by John Glynn | Mar 3, 2017 | Market & Prices, Classic Porsche Blog
The last few months have seen a slowdown in air-cooled Porsche market activity. Long-time owners who have watched their hobby become a speculator playground may have welcomed the lull, but there’s no guarantee of its permanence.
A seasonal slowdown has always been the way of classic Porsche prices. As the cars get put away through September and October, so the market tends to hibernate, with fewer cars available and buyer attentions elsewhere as Thanksgiving, Christmas and myriad other distractions keep people at home through the snowy winter months (northern hemisphere folks).
As the weather improves and the evenings get lighter, the classic car season starts to pick up. By the time we get to Essen TechnoClassica in late March/early April, the market is getting back up to speed and we begin to see where the haves and have-nots might be found, as record prices for particular makes and models are set in a retail rather than auction context, in front of Europe’s largest single audience of devoted classic car fans. Once Essen has happened, we start to see price trends taking shape for the year ahead and that is always an interesting point.
Falling prices for classic Porsche
A number of recent Porsche insurance valuation customers have asked how the fall in Porsche prices is progressing. Looking at current selling price data and the supply levels for RHD impact bumper cars in particular, I see no sign of falling prices for ‘regular’ 911s. 964RS and Carrera RS have come back a bit from their ultimate highs, but that adjustment happened a while ago and has stabilised since. Demand for ordinary 911s has not melted away and with constrained supply, prices are stable for now.
A market slowdown just means fewer buyers are out there, but when the sale is not an urgent one, you just sit it out and wait for buyer numbers to increase. That is what’s happening now. There has been no obvious fall off in prices for SCs, 3.2 Carreras and 964 Coupes since this time last year.
As an impartial market observer rather than a Porsche dealer, I see no obvious signs of a serious downturn for air-cooled Porsche selling prices. The biggest risk to prices would be a sudden spike in owners wishing to cash in their chips, but I don’t get the feeling that this is imminent.
Long-Time Owners mothball their cars
No doubt many owners have stopped using their 911s in recent years. As one Californian owner of a number of hot rods said to me recently: “my local shop is so busy that I can’t even get a quick re-seal done. It’s good that they’re busy, but an indicator that finding a shop that is both good and relevant is tricky at the moment. I also have to say that I am distancing myself from the early Porsche crowd on the basis that it’s no longer the same demographic. There are plenty of old crowd like me, kind of hiding out now: still with the cars but not out there in the public eye so much.”
I know my friend is busy on exciting new work projects and has less time available to socialise, but I hear the same story from lots of people, not just in CA. I’m in the same boat and I don’t really mind not using my 911, as I have lots of other stuff to get done and twelve other cars to busy myself with.
Despite the palpable changes in demographic and available leisure time, there has been no huge flood of much-loved cars to the market. These 911s form part of the owners’ life stories, they embody a lifelong ambition to own a 911 and of course, they are making money parked up. If the market were to collapse, it would utimately cost the owners nothing. Their 911s are bought and paid for, and a fall in prices and change in the crowd might encourage them to start using the cars again. So they are not coming up for sale.
No big influx of cars and no changes to the external factors = no big drop in price.
2017 Price Predictions
The owner/enthusiast in me hopes that average examples through Europe and the USA being advertised for ridiculous prices will all remain unsold through 2017 and encourage overenthusiastic speculators out of the market. You may think this unlikely and I am inclined to agree. My inner price geek expects realistically priced examples with good history in good condition to continue to sell at the current level, if not a tiny bit more as this year gets started.
The advice to anyone considering an air-cooled Porsche purchase of the common-or-garden variety (SC, standard Carrera etc) who might be waiting to see if prices come down remains as it has been for several years: stop waiting. Buy a good solid car with history and start enjoying it ASAP. That advice has not changed in the decades I have been watching this market and it still holds true today.
by John Glynn | Feb 22, 2017 | Classic Porsche Blog, Project Cars
One of my favourite Porsche projects of the last few years has been working with my friend Jonny Hart on the brand development of his company, Classic Retrofit. Jonny and I became online friends soon after he joined our 1974-1989 Porsche 911 forum at impactbumpers.com and it has been fun to follow his electronics magic on parts for these classic 911s, including the all new Porsche 911 air con system.
The peak of achievement to date is Jonny’s electric air con kit for classic Porsche 911s. Branded ‘Electrocooler’, the full kit is about to be unleashed on the classic Porsche community in its first public showing at the LA Lit Show on March 4.
I shared some pics on Classic Retrofit’s social media pages last week and they went totally ballistic: a most rewarding return for all of Jonny’s hard work. I have just sent more details out and am sure that many of my Ferdinand friends will also be interested in knowing more, so I share them below.
Email Jonny at info@classicretrofit.com to discuss any of his products.
Classic Porsche 911 Electric Air Con: A/C Technical Layout
The compressor module (front centre in the picture) goes in the smuggler’s box on a LHD 911. On a RHD car, the compressor is mounted adjacent to the battery and fits with no modifications to battery or spare wheel arrangements.
The condenser goes under the front wing/fender, in place of the oversized windscreen washer reservoir on an impact-bumper car. The blower unit (top right) contains a modern fan and evaporator. All original non A/C vents now blow A/C air.
The occupants can also enjoy A/C air out of any vent in the car, including warm A/C air for rapid windscreen defogging. Our blower assembly brings recirculation capability to the 911s ventilation system and assists heated air flow for hot air without the need for footwell blowers.
Maintaining the standards of classic Porsche design, the original cabin slider ventilation controls are retained, for maximum discretion. A single pushbutton with indication is the only visible clue that Electrocooler is fitted.
Electrocooler Weight Savings and Performance Benefits
As shown in our photo, the complete kit weighs a shade over 16 kilograms (35 lbs). Combining the fitment of a smaller washer bottle and accounting for removal of the original fresh air blower, installing Classic Retrofit’s Electrocooler kit to a 911 originally supplied without factory air conditioning adds less than 7 kilograms (15 lbs) to overall weight.
For a car originally equipped with factory air conditioning, converting to the Classic Retrofit Electrocooler system results in an overall weight saving of circa 18 kilograms (40 lbs).
There is the added handling benefit of weight loss at the rear of the car by removing the substantial original air-con compressor from its elevated position in the engine bay, not to mention the increased fuel efficiency and engine power, once the crankshaft load inflicted by the archaic belt-driven compressor is removed.
by John Glynn | Dec 15, 2016 | Classic Porsche Blog, Race and Rally
My friend Simon Kelly has just had his Porsche 911 SC repainted by Tuthills in a cool Alméras Frères tribute livery. I managed to get a few pics of the finished item before jumping on the plane to Gran Canaria.
Almeras won the 1978 Monte Carlo Rally with an SC in the famous Blue and Gold ‘Gitanes’ cigarettes livery: probably the high point of the SC’s motorsport career. Tobacco advertising is a sensitive topic in Europe nowadays and many owners modify tribute livery branding slightly, to ensure their cars do not fall foul of any rules. Simon also tweaked the design of his decals a bit, to be sure the livery would not upset the wrong people.
“I wasn’t quite sure what I would do regarding the tobacco thing and, in the end, I had a last-minute wobble. I did some reading about it and it’s a grey area with governing bodies, regulators and the media all having a different take on what’s acceptable. I didn’t want the tobacco ban causing problems for the car, so for a quite life I used the French spelling of ‘gypsy’ instead of the Catalan.
“The decals were made by our mutual friend, Rick Cannell at Highgate House, and are a lovely job. Rick made them the same way as the originals would have been done, using layered vinyl and not the printed vinyl which is more common nowadays. Your photos remind me that I need to send Tuthills some new number plates I had made in the proper style!”
Regular readers may recognise Simon’s car as one I did a feature on back in the day, when it was painted grey and red. Built by Tuthills using one of EB Motorsport’s first Group 4 Almeras-style arch kits, Simon bought the car in 2011, selling an RSR replica and 968 Sport to buy this one instead.
The car has been a regular at the Below Zero Ice Driving camp in Sweden every winter and is heading back again for 2017, hence the font and rear guards and towing eyes, to drag it off the snow banks. I think this is going to look great on a white background – here’s to taking many more pics!
by John Glynn | Dec 3, 2016 | Porsche People, Race and Rally
It was not the biggest surprise in motorsport this week, but Porsche has finally confirmed that André Lotterer will race as one of its LMP1 works drivers in 2017, alongside Earl Bamber and Nick Tandy. Weissach has stopped short of putting the new kids/three Le Mans champions in a car on their own: instead, Neel Jani will race with Lotterer/Tandy, while Bamber joins Bernhard/Hartley for the season.
Romain Dumas returns to GTs with new colleagues
The news was announced at the 2016 Night of Champions, along with some other surprising appointments. Romain Dumas returns to the works GT roster, but his next race seat was not announced this evening. Instead Porsche announced two new GT pilots for next year: Dirk Werner and Laurens Vanthoor. Werner is a name most Porsche fans will know, as he raced 911s for a fair while (2004-2009) before heading off to race with BMW in North America. As well as being the 2006 Carrera Cup Deutschland champion, Werner is a two-time Grand AM GT champ and also claimed the Porsche Cup in 2009.
Vanthoor is a proper GT legend. Still only 25 years old, he’s already won the Macau Grand Prix, won the FIA GT championship and won the 24 Hours of both Spa and the Nürburgring. Two weeks ago he won the FIA GT World Cup in Macau (albeit in somewhat controversial circumstances) and he has also won the 12 Hours of Sepang and the 24 Hours of Dubai. When you think that newly-promoted Sven Müller is just one year younger than Vanthoor, it makes you wonder what Müller’s been up to. Then you remember that he’s just won Carrera Cup Deutschland and Supercup titles in the same year, so there’s every reason to look forward to seeing what Müller can do in the new RSR.
Robert Renauer wins 2016 Porsche Cup
The main award at the annual Porsche motorsport prizegiving is always the Porsche Cup, given to that year’s most successful Porsche privateer. The 2016 Porsche Cup winner is Robert Renauer from Germany, who scored an impressive 7,355 points this year driving Porsches in ADAC GT Masters, European Le Mans and the 24-Hour International Endurance series. Wolfgang Porsche presented Renauer with his prize: a 911 Carrera worth €120k. Runners-up Christian Ried and Spain’s Daniel Diaz Varela win €30k and €25k respectively.
Porsche 911 RSRs chase FIA GT and IMSA titles
Porsche has committed to a two-car assault on the first FIA GT manufacturers’ title, but so far has named only three drivers for the two GTE-Pro RSRs: Michael Christensen, Fred Makowiecki and Richard Lietz. Two of this trio will spend some additional time in America, Lietz and Fred Mako teaming up with the IMSA pairings of Pilet/Werner and Estre/Vanthoor for longer events such as Daytona and Sebring.
The full list of factory drivers is below and seems a good combination of youth and experience. Hats off to the team chiefs for some interesting choices: here’s to a great year ahead.
LMP1 – 919 Hybrid #1
Neel Jani (32) Switzerland
André Lotterer (35) Germany
Nick Tandy (32) Great Britain
LMP1 – 919 Hybrid #2
Earl Bamber (26) New Zealand
Timo Bernhard (35) Germany
Brendon Hartley (27) New Zealand
GT Works Drivers
Jörg Bergmeister (40) Germany
Michael Christensen (26) Denmark
Romain Dumas (38) France
Kévin Estre (28) France
Wolf Henzler (41) Germany
Richard Lietz (33) Austria
Frédéric Makowiecki (36) France
Sven Müller (24) Germany
Patrick Pilet (35) France
Patrick Long (35) USA
Laurens Vanthoor (25) Belgium
Dirk Werner (35) Germany
Young Professionals
Matteo Cairoli (20) Italy
Mathieu Jaminet (22) France
Porsche Juniors
Matt Campbell (21) Australia
Dennis Olsen (20) Norway
Thomas Preining (18) Austria
Photo Credit: Brittany Tandy @brittanymx
