A New 924 Turbo Record

Good Morning! Now that was a weekend! For those of you who have just recently joined us, our weekends typically have a strong dollar volume like this, with a dollar volume of at least $1m over two days. The sell-through rate, however, was pretty high, and we saw a new five-year record and peak price achieved for a very limited and sought-after 911.

THE MARKET

Sell-Through Rate (STR): 86%
Market Volume ($): $1,625,316
Market Volume (Units): 21

TOP SALES

2016 Porsche 911 R $455,000 Bring a Trailer
2022 Porsche 911 GT3 $231,000 Bring a Trailer
1978 Porsche 911SC Coupe Modified $180,000 Bring a Trailer
1956 Porsche 356A 1600 Coupe $126,500 Bring a Trailer
1986 Porsche 911 Cab. M491 $105,000 Bring a Trailer

SPOTLIGHT

Porsche’s 924 Turbo was born out of recognition of the need for a high-performance version of their well-balanced 924 in order to bridge the gap between the standard 924 and the 911. Upon its introduction, the 924 Turbo was praised by the automotive press for its supercar-like performance, handling, and build quality at a budget price.

For years Porsche’s first water-cooled transaxle car languished in the market as a cheap used car but has come into its own over the past decade as early transaxle cars from the 70s gained traction and became cool again. Average prices have, however, still remained low as good examples are hard to come by, with most cars needing too much work to get right again. Nice examples with recent maintenance history tend to trade in the upper teens to low twenties, with the average price sitting at just below $15,000.

This 1980 924 Turbo has been no stranger to the online auction scene. We first saw this car sell in June 2019 for $3,400. It needed a bunch of work inside and out as well as mechanically and sold for project-car money. One year later, the car returned to market, this time with a new head gasket, piston rings, bearings, belts, and valve adjustment. It sold for $9,310 to its current owner, now selling here again three years later.

During their three years of stewardship, the seller transformed an “ok driver” into the car we have here today: a very nice 924 Carrera GT “homage” with a new IFC Racing body kit and Euro-spec bodywork as well as more engine work in the form of a rebuilt cylinder head, a Bell intercooler, and a Norgren variable boost control unit.

The interior has been refitted in Black leather with wood-grain trim, and the suspension has been served with front struts, bump stops, and outer tie rods, along with Bilstein rear shocks. All-in-all, a really nice build that looks like a blast to drive and looks the part with the Carrera GT bodywork.

It sold over the weekend for $25,424, a little more than $16,000 over the purchase price three years ago, and a new five-year high for the model. But all of that work probably cost a pretty penny judging from the build pictures provided by the seller. I think the buyer made out with this one, as the cost to replicate is most likely close to the selling price.

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