Porsche 959: was Bill Gates' saga worth it? | FerrariChat

Porsche 959: was Bill Gates' saga worth it?

Discussion in 'Porsche' started by bitzman, May 23, 2014.

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  1. bitzman

    bitzman F1 Rookie
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    I remember a few years ago the 959 was greeted with the fervor of the second coming, but now I wonder if Bill Gates spent too much on buying one and federalizing it and now it's glory is forgotten? Inother words, is the car worth less now than when he bought it? I know the cars were made forom '86 to '88, and that US Customs grabbed Gates' car and impounded it, (one source says for 13 years.) Then he was either able to Federalize it or benefit from a new law he sponsored, something titled something like the "Show and Display Act." I am personally in favor of such a law because I feel the more oddball cars that American automakers can see (and test) the more they will learn what the factories are doing in Europe. Sometimes I fear that the American car industry is so far behind (and I am a son of Detroit!) . But I just wonder if, considering how long he had to wait to get it, if it was worth it for Gates? Also are there any other former 959 owners in the States that brought their car here but subsequently sold it at a loss because they were off-put (put off?) by the cost of Federalizing? Sometimes I see a car at a major auction that can only be sold to a non-resident of the US who will take it out of the country but I don't remember any 959 cars being auctioned at RM, Gooding, etc.

    Incidentally Bruce Canepa in California has legalized several of them and his, once Federaiized, are around $575,000, last I read.
     
  2. Smiles

    Smiles F1 World Champ
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    I think that the 993 Turbo took a lot of the 959's luster away. 400bhp, a very similar experience, AWD, but much easier to maintain, much more widely available, and with much better brakes.

    Matt
     
  3. jlonmark

    jlonmark F1 Rookie

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    The 959 will always be an icon! The car was so far ahead of it's time with it's debut in 1983 at the Frankfurt Motor Show! Again without the help of Bruce Canepa and Bill Gates the 959 would never have made it's way to America.
     
  4. bitzman

    bitzman F1 Rookie
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    I forgot that there are many reasons to buy a car. Maybe Gates bought his for sheer driving pleasure and didn't need to buy it to enhance his image as a macho car dude (though it does show another side of him, that he isn't always sitting at a computer terminal) but certainly Ralph Lauren buying one was part of his long standing promotional efforts to tie in with all sorts of macho things, such as his purchases of

    -Ferrari 250GTO and a few other Ferraris of collector stature
    -prewar Bugatti that costs $7 million to restore and took 1st overall at Pebble
    -cattle ranch in Telluride

    He sometimes weaves his classic cars into his ads,in very subtle ways (no lettering that says "from the Ralph Lauren Collection") particularly the Bugattis into the Purple Label (his fanciest duds) print ads. So I presume, if he has a good tax man, he could write off the Porsche and maybe some other cars as long as they are used in ads or shows in some way (he had a rather big show in Parism at an art museum, several of his cars on display)

    So though at first blush it seems alarmingly expensive to regular folk to import a 959 to the U.S. when they were still almost new, you could build a business case for buying it or another non-Fed superexotic if you got enough ink for your other products (Polo, etc.) Then you could say it was worth the expense. And ironically when Ralph goes to sell his 959 (he may own more than one), it will be worth more than Joe Blow's because RL is more famous.
    For example, his 250GTO could go for $75 million just because he's better known that the last guy that sold a 250GTO.
    And who knows how many Silicon Valley entrepreneurs bought 959 cars from Canepa so they could be "just like Bill?"

    So in comparison to the anonymous bloke that lusts after these newer-than-new unobtainable wundercars from Yurrip, it almost makes sense to buy one if it automatically adds image to you in spades.
     
  5. secretcollector

    secretcollector Karting

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    I can't obviously say why Bill Gates bought it, but the current market for 959's is north of $1M and climbing. The 993TT, while an amazing car, has zero impact on the market for 959's - these are verified (read any major magazine article on the true supercars and this one is on the list) as one of the great collector cars and there are very few really good examples left out there.
     
  6. jlonmark

    jlonmark F1 Rookie

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    Add the carrera gt to tis as well. Each car is independent of value
     
  7. James_Woods

    James_Woods F1 World Champ

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    This thread would not be complete if we did not mention a Ferrari.

    F40.
     
  8. GuyIncognito

    GuyIncognito Nine Time F1 World Champ
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    I don't know if it was worth it for Gates, but all car collectors owe him a debt of gratitude; were it not for him, "show and display" rules probably wouldn't exist.

    btw I doubt Gates cares whether or not his 959 was a good investment :)
     
  9. donv

    donv Two Time F1 World Champ
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    Bill has been a Porsche guy since the 1970s. There are lots of stories about him ripping around Albuquerque in his 911s way back when... I don't know if he still drives a current 911, but it wouldn't surprise me. I think his daily driver is a Lexus, though.
     
  10. badges2

    badges2 Formula 3

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    #10 badges2, May 24, 2014
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  11. nickd

    nickd Formula Junior

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  12. ersatzS2

    ersatzS2 Formula Junior
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    Yes there is a great shot of him with an early 930 in period, over in the Turbo Carrera thread.
    RElative to the OP: I don't think anyone who collects cars is nearly as interested in 'absolute' performance of a car as they are in it's role in the historical lineage of a marque or cars overall. And the 959 was a game changing, milestone car by any measure, it's place in history is assured and it's irrelevant that today you can make a WRX go faster...
     
  13. freestone

    freestone Formula Junior

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    I don't think the 959 is that important.
    Nothing compared to the McLaren F1 with its race pedigree.

    Even in period, the f40 was more desirable.
     
  14. David_S

    David_S F1 World Champ
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    I'm going to have to strongly disagree.

    959 (or, at least a derivative) won a MUCH more demanding race than the F1's LeMans victory - it took places 1, 2, and 6 at Paris-Dakar in 1986! Modify an F40 all you want - how well will it cope with sand, rock, and uneven terrain?

    Not saying that the McLaren F1 isn't perhaps the most incredible driver's car ever, and I appreciate the F40 from a performance (if not build) standpoint, but the 959 was a technological tour de force for the period.
     
  15. stradman

    stradman Formula 3

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    Everyone's entitled to their opinion, ......no matter how wrong it is ; )
     
  16. Smiles

    Smiles F1 World Champ
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    The 959 was hugely important. But it wasn't entirely unique in that subsequent Porsches were very similar in feel and performance. You can get awfully close, as I pointed out, with a 993 Turbo.

    The MacLaren, by comparison, was hugely important, but also impossible to get anything close to experiencing with any other road car. It's much more unique in what it offers.

    And the F40 and 959 were, at the time, evenly divided between people who fell into Ferrari or Porsche camps.

    Matt
     
  17. stradman

    stradman Formula 3

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    Yes but only 10 years after the 959 came out...And that is where the 959's historical significance lies. By evolving the applied technological advances made possible in the 959 all subsequent Porsches became what we now know. The fact that the 959 now feels like many modern Porsches, and therefore perhaps not particularly "special", is absolutely staggering considering it was designed and made nearly 30 years ago.

    The 959 is the Daddy of the modern 911. Plain and simple.
    You just cannot understate this enough nor can anyone erase it's significance.
     
  18. ersatzS2

    ersatzS2 Formula Junior
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    Desirability and Importance are two different things. I'd rather have an F40 than a 959, then or now. But the F40 was actually retro: stripped down, lightened, it's only technological risks were use of composites, everything else was the standard playbook. The 959 by contrast debuted all kinds of innovations that would become standard on subsequent super cars: AWD, ABS and computer asst, Tire pressure management.
    And do you really want to compare the McLaren's race pedigree to Porsche's??? Probably no chassis in history has more race miles than the 911, while the F1 was a bold one off sharing nothing in common with it's F1 or sports racer ancestors than Gordon Murray...

    Yep.
     
  19. Tenney

    Tenney F1 Rookie
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    Though the F1 was the last street-based chassis to win LeMans OA ...
     
  20. MRG22

    MRG22 Formula Junior

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  21. GG Allin

    GG Allin Karting

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    The Canepa cars are heavily modified, I can only imagine that will hurt their value in the long run compared to one that is stock.
     
  22. dmaxx3500

    dmaxx3500 Formula 3

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    i thought i read were gates and a bussiness partner bought 2-959's,and they were stored inside a building in wash state[fed holding/customs]i thought they were still there?
     
  23. MM355

    MM355 Formula 3

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    Aren't 959's $1,000,0000 cars these days ?

    I called a dealer in London and the 959 is 600,000 pounds
     
  24. Craigy

    Craigy Formula 3

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    Weird original post... I don't think Mr. Gates cared that much about how much it cost, just how he could get a car. I think he still has it, and I want to say he has a couple of them.

    I agree the F40 is the more desirable car, but the 959 was much more impressive. Despite being on market first, offering nearly identical performance and all the trimmings that a modern car of the time should have (and more), the Ferrari offered a great sense of occasion, which coincidentally is still what separates them today from their competition.

    Also, Ferrari did not 8 or 9 years later release a new, cheaper car with similar looks and all the same features as Porsche did with the Turbo and Turbo S. You can't get the F40 experience anywhere else. But at this point, the 959 is valuable for more than the experience, and instead more valued for its rarity/historical significance/cool factor.
     
  25. Fritz Ficke

    Fritz Ficke Formula 3
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    Using performance as a yardstick in collector car value does not work. If that was true Porsche Boxsters would be worth more than 550 Porsche Spyders.
    People do not spend big money to buy old cars to go fast. It is for historical significance and driving experience. 959 has both.
    When the 993 Turbo came out and the 959 was pretty much considered a used car, buyers made that choice between the two and the price was similar at that time. Not even close today and totally different buyers.

    I think the fun and memories of the 959 experience far out way the minor financial impact it would have on him.
     

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