Almost $1m Over Pre-Sale Estimates, For What?

It’s been a while since an auction had me say “WTF”. That phrase was often used during the runup of 2021 and early 2022. But it’s been absent for quite some time until the sale of this 1972 Porsche 911 S Targa restored by Porsche Classic sold yesterday for $1,149,000.

For that kind of money, you would think this car might have actually belonged to Ferry Porsche. Or perhaps it was sold for charity and the buyer was feeling rather charitable before the holidays. But no, there was no real historical connection or charity involved.

Instead, a run-of-the-mill 1972 911 T (not even a real S) Targa basketcase was restored by Porsche Classic to what the good professor might have driven. Yes, the restoration is top-notch coming from the factory and it’s a beautiful color combo similar to the 50th Anniversary Targa that debuted earlier this year. But even RM Sotheby’s didn’t expect this much with the estimate somewhere around $350,000. Maybe they forgot to add a 1 to the front?

As I’m still trying to wrap my head around this sale I’m sure it goes without saying that this was well sold. VERY well sold. WTF.

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