There appears to be no slowdown in the collector car market with limited edition models from prestigious marques continuing to skyrocket in value.
And one of the most sought after is the 2016 Porsche 911 R, which in the United States retailed for $185,950, including destination, but on the used car market is fetching prices of almost £1 million (approximately $1.32 million).
The information was revealed to Motoring Research by Tim Marlow, head of supercar finance company Magnitude Finance.
“We spoke to several Porsche specialist dealers and they confirmed the cars are commanding close to £1 million,” he said. “We believe this is a record level of appreciation for a new car based on a percentage of its original value.”
In April a seller listed a 911 R on eBay with a “buy it now” price of $1.25 million. Back then the price seemed ambitious but now looks reasonable.
Porsche only built 991 examples of the 911 R, the number signifying the current 911 generation’s internal code. The car is meant to harken back to the original 911 R of the 1960s by offering modern 911 buyers a powerful, no-nonsense sports car without the frills many enthusiasts would rather do without.
But it’s unlikely to be enthusiasts pushing up the prices but rather speculators. Collector cars such as limited edition models and certain classics are now seen as investments, and the low interest rate environment much of the world lives in has seen these investments appreciate, in some cases it seems, such as the 911 R, to mania-like levels.
The market will have to turn at some point, and, if your powder’s still dry, there could be some bargains to be had.