930 Turbo Carrera

The Canepa car: 550 hours of refresh??? can't believe the Canepa shop rate is much below $100... A couple questions for the true cognoscenti: Do you think Canepa added the Tartan? no build CoA or window sticker... It would sure look amazing in my #470 project... Next: H4 headlamps, I'm also retaining those on #470 since I also have the stock sugar scoops. Finally, the horns: are those red trumpets stock? #470 has them, but I assumed they were aftermarket.

 

Canepa has been known to take some liberties(ahem) in the process. All cars not strictly original. I can't say whether tartan is original to this chassis.

 

Tartan-dress looks very nice with the factory sports seats and they are period correct. I thought all the 1970’s 930’s have factory red trumpets (both my ’75 and ’79 have them).

 

Hmm, we might be headed for a Tartan transplant. The awesomeness is irresistible...
Where does one obtain correct cloth?

 

It does look nice...

The neglected RoW 1977 Turbo I looked at just before I bought my 1975 had tartan-dress inserts but fitted only to the front sport seats. Despite the sad condition, this 930 had real potential and would look stunning restored to its former glory - Grand Prix White, non-sunroof, no passenger mirror, black leather with McLaughlan red tartan sport seats (code 72).
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Anyone know the price of the Canepa car?

 

A cool $345,000 USD!

 

Not so cool!

 

Hahaha....that means, if they sell the prices for concours state could jump to around 345.000 USD....funny.

I keep on watching....

 

An enthusiast priced this car? I am not enthused...... Or amused. It is laughable and truly sad days for the enthusiast.

 

We'll see if Hagerty/ Panorama gets up from $146K /$175K respectively top value now for the next published value guide. Top value should include this $345Kask as well as a others in this range. Not to worry about all getting too expensive to enjoy driving them. The total of garage queen 930 will not account for most of them. A well serviced, driven and cared for 930's should retain a good value when sold later.

 

Joe

I couldnt agree more with your comment, I have had the pleasure of doing multiple deals with you and your advise has always been spot on.

I dont know how long this will continue but in the meantime, Im just following a friends advise, Im keeping only the cars that I would still love even if their value dropped to $1 dollar, this includes a few 3 Liter Turbos!

I would be very happy to see them worth that much but this 77 at that price is just plain insulting.

 

Something is definitely strange there. $50K is a stretch.

 

I enlarged the photo of the lime green 1975 Turbo and was able to make out the registration plate - S-04664. This is the same plate that was on the sliver ’75 Turbo in the Hobby Poster so perhaps both these photos were taken during test or checkout at Weissach.
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Hi, I agree with your statements/ opinion, just a few comments.... I am involved in the stock market for two decades ... as may be some of you as well.
I have seen up and downs, booms and crashes. Therefore, it could be easily happen that a 930 boom might crash again...but did investments with a good substance really ever crash? I leave the answer to you to answer - I saw many times people hoping for prices coming down again after they missed to enter just to see them rising further and further and after all "panicking" at some point which leads them to jump in at even higher values (that is the point when prices become unreasonably high).
Of course, here, we are not at the stock market. But the principle of the mechanism is the pretty much the same.... but this just one possible scenario.

Do not get me wrong - I do not argue that a steep price increase does reflect the true inner value - in this case for the 930. On the other hand I believe that the 930 were vastly undervalued compared to the other models before 2014 (it is an irrational market anyway). Therefore I do not look at the price increases to the 100k area as a price rallye from a valid price level..it just adjusted to appr. fair value.

A few thoughts about why the prices could raise further on (345k today as an exception), - mechanisms that work for decades in other areas already:

- supply and demand:
supply is limited, no question about that - good ones even more limited.

demand is increasing to what I heard, as investors more and more take classic cars into their investment portfolio. This is not totally new, but we got new groups on the plan from Asia and classic cars outperform other art stuff since a couple of years related to investment performance. In short: there is a huge group of new "investors" just coming up, driving demand compared to today.

- alternatives and capital cost: money is cheap. The house market prices in GER hiked during the past 15 month (some areas which were attractive from price level before doubled in prices). One reason is that money is cheap so that more people can afford to buy for higher prices....demand is increasing.... and cheap money seems to stay available for another couple of years, so the demand side will stay up for some more time. There are chances that once the interest rate is going up again, demand may even super hike for a short time, as some more people jump in to secure cheap money before it becomes more expensive....and they need to invest this money of course: houses, stock market, art, classic cars...)

alternatives: after all the 930 gets multiple recommendations that it has a good chance to raise in value in the future. Magazines compare to similar models (when it comes to historical meanings) as the 1973 RS ... and as we know these models are already a lot higher in prices, which nobody questions to pay for. After all the 930 is one of the few models which is outstanding in the history of Porsche, there are not many alternatives. I would rather buy another 930 for 150k compared to a 1973 RS for 350k. The chances I see 300k for the 930 is higher than 700k for the RS during the same time span - from my point of view
(I used the relative instead the absolute increase on purpose here - I am still talking about investments)

Last but not least, when I look at the last comment made by joe (I believe) about restoration cost at Porsche or other reputed places that seem to be from 150k to 300k, I am wondering why 345k for an already perfect car is too high. You would end there anyway if you have a bad one restored in one of those places. (I can not evaluate if the 345k one is perfect).

All this is not cool when looking at it from a true driver point of view. I myself got two 930 1977 as well and was always driving them sporty, not taking too much care of getting spots in my front, was racing them on the race tracks, made unwillingly 360 degrees turns I my first years when I still got surprised by the torque jumping in and so on - it was good fun, good learning etc
Now, at prices 150k plus establishing, I am starting to hesitate. Could be that I turn into a Sunday-touristic driver type keeping double and triple distance to the car in front to avoid getting spots in my front or worse ;-)

I am just curious where all this is going to - we will know more in about 2 years.

One last comment - the values for the 930 in classic data (like Hagerty) did not raise so far. Still showing about 70k EUR for a concours model. Could be that they refresh only once a year their database....I believe in Q1/15.

 

Hi Joe,
was it sold for this price? A couple of days before I thought that was too much for this car...

cal

 

All great perspectives... from both you and Joe. A very high percentage of Canepa's cars are shipped out of country. I recently bought a prestine , completely stock 5k mile 1987 930. Could not bring myself to pay 300k just yet, but feel the top 5% could get there. I bought my car because 1. I absolutely love them and I am a Porsche guy and 2. It's a small hedge against the volatile stock market. I will keep the car 10 plus years, however I enjoy the car first and foremost.

 

Rich

Good eye, I would love to find that light green 75!

 

Agree, an iconic 1970s color. The 1975 Porsche factory color book indicates: one coat paint; lime green; 911.095.902.20; N8N8. The 1975 Turbo in the photo could be the only 3-liter turbo that was painted lime green and was likely just a production turbo undergoing a driving test prior to delivery with temporary plate S-04664 attached. Whereabouts today unknown.
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