Are 912s Softening?

When I began writing the Stuttgart Market Letter a year ago, no model surprised me more than Porsches SWB 912, as we saw a number of examples sell for over $80k and one reach an astonishing price of $200,616 in October 2022. I really hadn’t paid attention to these since they were in the $30-40k range, so imagine my surprise.

Today’s Spotlight car, this 1966 912 Coupe 5-Speed, was originally a Gulf Blue example but was repainted Tangerine in 1979. It is currently in driver condition with paint showing some wear, a cracked taillight, and a dent next to the left headlight. The Black vinyl interior also shows signs of wear, but nothing more than you would expect for a car that has been enjoyed for so long.

Mechanically the car has been kept up with service records from 2022 and 2023 showing a rebuilt pedal assembly, a valve adjustment, and replacement of the heat exchangers, exhaust system, clutch, ignition components, front pulley, and rear crankshaft seals, oil lines, rear shocks, and engine sound pad.

We last saw this driver-quality car in May 2021, when it sold for $53,000. The market for SWB 912s has been softening over the last twelve months, as evident by the high bid of $42,500. While on the lower side of the market, the final bid probably wasn’t far off from where it should have sold.

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