Porsche 'speedster' market (vintage)

I ALWAYS see PLENTY on eBay....sellers asking the Moon, with no buyers. I check the "completed listing" section on eBay to get a feel for current values. $200,000.00++++ for a "Bath Tub" Speedster?...I'd invest my monies else where....Mark

http://motors.shop.ebay.com/i.html?_nkw=356+porsche&_sacat=&_sop=3&_odkw=356+speedster&_osacat=0&bkBtn=&_trksid=p4506.m270.l1311

 

I think the train already left the station, with 356 Speedsters.

At the high end, a regular pushrod '58 Speedster sold for a $335K last month at auction, but it was reportedly a perfect restoration, numbers matching, etc. That seems high to me, but the quality was there. (Carrera Speedsters are significantly higher.)

http://www.rmauctions.com/CarDetails.cfm?SaleCode=AZ12&CarID=r204&Currency=USD

A basket case restoration project Speedster, complete with correct engine, now goes in the low $100Ks. Nick Clemence at European Collectibles was asking $108K for this one, now sold:

http://www.europeancollectibles.com/inventory_detail.aspx?@page_inv_id=Po2540

I think well restored cars are going to be hard to pry loose for under $200K, but a non-matching numbers driver in good running condition should be doable for $150K-$170K.

What is interesting now is that the cabriolets have moved solidly into six figure territory for nice ones, so we've seen an upward trend for all of the open 356s (coupes are still less expensive, but Paul Russell has a magnificent A coupe, done by Bruce Baker, asking $130K -- and will probably get close to that.)

http://www.paulrussell.com/classic-cars-for-sale/D_59_p_356A_Coupe-107990/index.php

The 356s are undervalued compared to contemporary Ferraris, so in that sense they are a relatively affordable path to the classic sports car era. OTOH, they are hugely expensive to restore due to rustprone, hand-fitted and finished bodywork. Figure $100K-$200K for a total restoration by someone who is a master at panel fitting, lead work, etc. Mine has taken two years -- should be done in a month or two. I pretty much had no confidence in any Speedster I couldn't see in bare metal.

eBay is fine for late Porsches and Ferraris, but I think anyone who buys a 356 over the Internet is probably investing in bondo. You really need to work with someone who knows these cars (Alex Finigan at Paul Russell, for example) or find someone else's documented restoration, by a reputable shop, for sale.

Good luck. 356s are fantastic cars. The previous owner of mine had it from 1963 through 2009, and a lot of the 356 Registry group have owned theirs for decades.

 

If you're a patient man... at least it's fun to watch.

The car's racing number from the 1970s ('11') was peeled off the car at the start of restoration and is stuck to the shop wall. Seats are barely visible way off to the left, on the shelf.
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If you are looking for appreciation....1967 Porsche 911s. Those cars are going to be pushing $200k this year.....and there have been reported private sales for over $200k. They are following the more common 73rs's in terms of value. A decent rs sells for at least $$250k and near perfect examples are selling for $350k +
I am in the hunt for a 67s myself and have been looking for nearly 2 years for a slate grey red combo...

 

Any ideas of where the values of the later 356's are going? I have just completed a ground up, drive train , interior , exterior etc on a 65 356C.
Docff

 

I'm not an expert on the coupes (assuming yours is a coupe), so this is based on my limited observations:

From what I have seen, the market for pre-A and A coupes has been strong, and properly restored, numbers matching, late sunroof coupes in good colors also seem to be selling well, as they are regularly marketed as "the best to drive" of the series. I think a numbers matching '65 cabriolet is a very hot car right now, and coupe values seem to be drifting up as the best open cars regularly hit the six figure mark.

They are really good to drive, and maybe the most dependable classic cars you can buy. I love 1960s Jags, Alfas and Ferraris, but I wouldn't drive one far without a flatbed service nearby.

Among the guys who I would consider reliable sources of values for these cars are Bob Lee (reachable via the 356 Club of Southern California); Alex Finigan at Paul Russell; Bob Campbell (reachable via his restoration company web site); and Brian Doherty at California Porsche Restoration in Fallbrook, CA.

 

Thanks for the response. I am glad to seethese cars finally making a move upward.

Docf

 

Can we watch with you? Any updated pics or another thread where we can follow along?

 

Bullfighter, and all; check out BaT for the yellow tub in Canada....only $65K CA....

http://bringatrailer.com/2012/06/22/40-year-owner-1958-porsche-speedster-race-car/

 

I think Speedsters & Open 356's are getting to that point where only serious collectors are getting into the cars now. My dad still has his 1960 Roadster only 43K miles from new- he bought in 1960 and has owned it since. Pics below:
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1 owner - fantastic - keep it in the family and enjoy ......

 

I agree, open-top 356 are getting into silly money these days. Speedsters especially.
From the other 356 drivers in my area, they seem to really like the Convertible D as an alternative to the speedster....better/more comfy driver and still looks amazing.

 

LOL! Roll up windows and headroom! Sure sign of advancing age.......;-)

 

Conv D's used to be the bargain, not so much anymore. Nice ones have been north of $100K for a while.

 

Will be going up to the shop on Friday... car is due to drive onto the field at Dana Point next month. More pics when I have them, probably in a separate thread.

Here's the new (actually original, now restored) fuel tank, and the interior being assembled. Note the gearbox wasn't in when I took these crappy iPhone shots. You can see the floorboard in the second photo -- first car I've owned where termites would be an issue.

Speedster/356A uber-experts will spot an error in the interior installation, one that's being corrected.
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Thanks for sharing.

Its looking Gorgeous....and I just love these cars in white.

 

It took a while to find the original color, but white it was and white it is again.

40 lbs of paint removed...
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Awesome Jon.

 

Good point, most in the 356 crowd are up there in age...me being 35 and in the scene for a few years I feel like kid again

 

To my eyes, the Speedster has to be one of the three to five most cohesive, beautiful, and timeless designs of all time.

I hope all goes well, Bullfighter.

 

My 356c cab is sitting in the garage being jealous of your car right now sir.

That's going to be fantastic when finished.
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to me the 356 is the quintessential Porsche design i've always desired a Speedster!