“Project Gold” Porsche auctioned for AU$4.4 million
The first ever one-marque auction conducted by RM Sotheby’s saw more than 50 Porsches sold, along with related parts, memorabilia and collectables, at a special event on 27 October, including the unique ‘Project Gold’ 993-era 911 turbo created by Porsche as part of their 70th Anniversary celebrations.
Golden Sale
As featured in JUST CARS #274, Project Gold – or ‘2018 Porsche 911 Turbo Classic Series “Project Gold”’, to give it its full title - was an 18-month project by Porsche Classic, the company’s in-house heritage division, using an original 993-era 911 body shell to make a new version of a model that’s been out production for two decades.
While the interior and running gear were mostly authentic for an early ’90s 993, they were built using all new parts, with the twin-turbo 3.6-litre flat six engine fitted with a period-correct WLS II engine upgrade, while the interior combined authentic 993 instruments, dash and seats with carbon fibre trim and special detailing.
Finished in a special Golden Yellow metallic paint (that was never offered on the 993 originally), Project Gold carried complementary gold highlights inside and special badging identifying its ‘one of one’ status.
After its public unveiling at the Porsche Rennsport Reunion VI in California, Project Gold came to the Porsche 70th Anniversary Auction at the Porsche Experience Center in Georgia with no reserve, but a starting bid of just under US$175,000 reflecting its original pricing. In front of an enthusiastic crowd,
Project Gold became the centre of a nine-way fight between phone and floor bidders that resulted in the one-off selling for US$3.41 million (AU$4.4 million approx.). The price reflected the one-off’s collectable status and came in spite of the car being illegal for road use. Proceeds from the sale went to the non-profit Ferry Porsche Foundation.
Dakar and Dirt
As impressive as the Project Gold price was, it wasn’t the top seller from the Porsche 70th Anniversary Auction. That honour went to a 959 Paris-Dakar racer, which was one of three built for the 1985 Paris-Dakar Rally and came to the auction in running condition and after appearances at events like the Goodwood Festival of Speed and the Quail Motorsports Gathering in the US.
The first competition 959 to ever come to auction, the ex-Dakar racer carried a US$3.4 million high estimate and, like the Project Gold 911, attracted multiple bidders and soon exceeded its estimate to ultimately sell for US$5.94 million (AU$7.67 million approx.).
Four other Porsches sold for more than US$1 million, including a 959 road car prototype, a 2015 918 Spyder and a pair of 911 Carrera RS 2.7 coupes, one of which was a 1973 prototype (the second of nine such prototypes built) that sold for US$1.32 million (AU$1.71 million approx.).
Like the Paris-Dakar 959, another lot that significantly exceeded its estimate was a 1958 356 A 1600 ‘Super’ Speedster. Recently returned to running condition after 35 years in storage, the heavily-patinated Super Speedster, with dirt and rust inside and out, must have presented as a tempting restoration project due to its matching-numbers specification, which probably explained its US$307,500 final price (AU$396,900 approx.) against a pre-auction of high estimate of just US$150,000.
Bare Bones, Stump-Pullers and Memorabilia
Other lots of interest included a ‘training chassis’ used by Porsche’s North American distributors to instruct mechanics on repair and maintenance of the 356 A. Stripped of its bodywork, the chassis included different suspension set-ups on each side to cater for early and late-production 356 As, along with a fully-functional engine. Restored in the 1980s and part of several private Porsche collections since, the 356 A training chassis sold within estimate for US$112,000 (AU$144,580 approx.).
It wouldn’t be a real Porsche auction without a Porsche tractor, so the RM Sotheby’s sale didn’t disappoint, with one of these now-rare units consigned in the form of a 1958 Diesel Junior 108K. Fitted with an 822cc single-cylinder air-cooled engine, ‘Juniors’ were, unsurprisingly, the smallest Porsche tractors built, below the two-, three- and four-cylinder versions, that carried ‘Standard’, ‘Super’ and ‘Master’ labels, respectively.
Popular in Europe, even after production ended in 1963, most Porsche tractors were worked hard on farms, so survivors are rare, especially in good condition. The example on offer had been restored in the Netherlands after what was claimed to be limited farm work when new. Against a US$40,000 high estimate, the Diesel Junior 108K sold for US$51,520 (AU$66,500 approx.). This compares well to a near-identical 1959 Diesel Junior 108K that sold for AU$28,000 at a Sydney Shannons auction in 2016.
Beyond the cars, there was also a significant amount of Porsche memorabilia and collectables, including posters, sales literature, service manuals, books, prints and paintings. The star lot here was a 3.2mt x 7mt Porsche paper billboard poster that sold for a staggering US$14,400 (AU$18,580 approx.) against a US$4,000 high estimate, while a collection of original 911 (and 912) sales literature made US$20,400 (AU$26,300 approx.) and a writing desk that used a 911 engine cover and rear panels sold for US$30,000 (AU$38,700 approx.).
Total sales of US$25.8 million (AU$33.5 million) and a 92 per cent clearance rate made this auction a great success, according to Auction Manager, Alexander Weaver. “The overwhelmingly positive response to the cars offered was characterized by a pool of global bidders that helped achieve outstanding prices for many models and numerous exciting moments,” Weaver said.
“The Porsche market continues to establish its own baseline as we witnessed new Porsche enthusiasts join seasoned collectors to take part in bidding on rare and unique examples.”
For full results and further details from this auction, go to: rmsothebys.com
