Is the $83k Profit On This 928 All That It Seems?

Purchased four years ago on Bring a Trailer for $4,928, this 1978 928 5sp sold yesterday for $88,000. I know what you’re thinking, this must be the flip of the century, but there’s a lot to unpack here.

Back in 2018 this car was run through no-reserve with a shoddy, chipped re-spray, worn interior, and plenty of mechanical fun to put your mechanic’s kid through college. Needless to say, it was a project.

Fast forward a little more than four years later, and what is offered for sale (no-reserve mind you) is an absolutely flawlessly restored example of a ’70s Porsche icon with all of the right ingredients. 5sp manual, Pasha interior, perfect Metallic Silver paint, and an undercarriage you can eat off.

The majority of the restoration work was taken up by the seller and a few 928 expert friends who spent thousands of hours bringing the car back to life. Some items were outsourced to machinists and other industry experts such as gauge repair and parts were sourced and scavenged from wherever available. When you add up all of the time, parts, and sub-let work, the total comes to way more than $88,000.

So was this a steal for the buyer and a bust for the seller?

I think both parties can be very happy with this strong result. The buyer skipped the line and the bill for a restoration of their own accord and the seller got the experience of their first 928 restoration with the help of some great friends. Both are winners here in my book.

The post Is the $83k Profit On This 928 All That It Seems? appeared first on The Stuttgart Market Letter.