A Case For A $500,000 Replica

Good Morning! The market remained stable following a solid weekend as our sell-through rate remained in the 70s, and our dollar volume hovered around $1m. But are we seeing some softening in the market? A pair of Turbos might be pointing in that direction.

THE MARKET

Sell-Through Rate (STR): 75%
Market Volume ($): $857,750
Market Volume (Units): 16

TOP SALES

1997 Porsche 911 Turbo $266,000 Bring a Trailer
2011 Porsche 911 Turbo Coupe 6sp $165,000 Bring a Trailer
2020 Porsche 911 C4S Coupe $130,000 Cars & Bids
2002 Porsche 911 Turbo Coupe 6sp $67,500 Bring a Trailer
2011 Porsche Boxster S 6sp $43,250 Bring a Trailer

SPOTLIGHT

“There are replicas, and then there are REPLICAS” - I believe that’s what I wrote this time last week when I first saw this 1967 907K replica on PCARMARKET. And unsurprisingly, to me at least, this replica went unsold yesterday at a high bid of $250,000. However, the car is still available at a “Buy Now” price of $500,000, which in my opinion, is completely reasonable for a build like this.

Now I’m sure many of you are thinking, David, you’re crazy if you think a replica Porsche is worth that kind of money. But hear me out.

This 907K replica was built by Erik Shahoian, who gained recognition after building an exact factory-correct Porsche 910 replica that garnered him a position alongside Dale Miller, restoring many authentic Porsche 908 race cars. Needless to say, this man knows Porsche race cars from this era.

Based on his vast experience and knowledge, Erik was commissioned to build two continuation-style 907Ks, of which our Spotlight car is one. Using factory blueprints, Shahoian built the frame from scratch, welding the silicon-bronze alloy by hand. The bodywork was crafted in the same thickness and weight as the original using hand-laminated NOS German twill fiberglass along with hand-shaped aluminum doors and front & rear cover frames.

Mechanically, a JWE Motorsports 2.8-liter flat-six powers the car through a 5-speed transmission with identical 907K shift linkage. Suspension pieces were either sourced from Vasek Polak’s collection of parts or faithfully recreated to exact specifications based on authentic parts on loan. The list of recreated parts goes on; this “replica” is as good as it gets, basically, a 907K built today rather than in 1967.

Still not convinced this car is worth $500,000? Then consider the Ferrari replica market, particularly the replica 250 SWB market. These replicas are considered “tool-room” copies, oftentimes built on cast-away Ferrari 330 chassis with engines, suspension, etc., all built to the exact specifications of the original Ferrari 250 SWB. You see these cars in many prominent collections and racing alongside originals at vintage races around the globe. They command prices around $1m, almost double what this ‘60s icon is asking.

Where’s the difference besides the price? For one, the 250 SWBs are built by GTO Engineering, who are restoration specialists that build replica parts and support these cars at the track. With the Porsche, you don’t have that backing. There are a lot of special parts that, once broken, may be very hard to replace.

So no, I don’t believe this is in the same realm as the million-dollar Ferrari replicas, but it has to be worth the $500,000 asking price. I also think a different auction venue, such as this past weekend’s sale at the Goodwood Festival of Speed, might have commanded the asking price, as racing replicas are received much better across the pond.

But if you want the thrill of racing a '60s-era Porsche through the Blue Armco barriers at Watkins Glen on a Sunday without risking a $4m original, then $500k should sound like a bargain.

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