$3.4 Million Project Gold Tops Off Seven Decades of Marque History Presented at the Porsche Experience Center Atlanta
- RM Sotheby’s generates $25.8 million with a 92 percent sell-through rate at the Porsche Experience Center Atlanta
- Stand-out prices led by the first 959 Paris-Dakar ever offered at auction, doubling estimate at $5.95 million
- Strong results achieved across seven decades of Porsche models, culminating with $3.4 million “Project Gold”
- Complete results from RM Sotheby’s Porsche 70th Anniversary Auction available at rmsothebys.com
ATLANTA, GA – October 29, 2018 – (Motor Sports Newswire) – RM Sotheby’s celebrated 70 years of Porsche on Saturday with the company’s single-marque Porsche 70th Anniversary Auction at the Porsche Experience Center Atlanta (PEC), also the home of Porsche Cars North America. RM Sotheby’s achieved $25.8 million in total sales, with 92 percent of all lots finding new homes.
Purveyors of Porsche descended on the PEC for the Friday preview of the cars on offer, alongside a symposium, gala, and special concert performed by music legend and Porsche enthusiast, John Oates. Enthusiastic bidders on auction day represented no less than 25 countries around the world, with nearly 50 percent bidding with RM Sotheby’s for the first time. Bidding at the single-marque sale was spirited from the very start, with plenty of interest in the wide variety of memorabilia on offer and many of those collectible lots exceeding expectations, including a group of Porsche 911 Sales Literature, which well-surpassed its estimate at a final $20,400 (est. $5k/7k).
The offering of 63 of the world’s most important and most sought-after, privately-owned Porsche models was led by a 1985 Porsche 959 Paris-Dakar, one of just three built to contest the 1985 Paris-Dakar Rally as a Works entry and the very first example ever offered at auction. One of seven developmental cars, four of which are retained by Porsche, chassis no. 010015 was piloted by three-time Paris-Dakar winner René Metge, representing Porsche in the most grueling rally of all time. After a sustained competition between several bidders in the room and on the phone, the 959 sold for a final $5,945,000, nearly doubling its high estimate (est. $3.0m/3.4m).
Additional motor car highlights included the 1958 Porsche 356 A 1600 ‘Super’ Speedster, which, after having emerged from storage since 1983, was recently returned to driving condition and would be the ideal restoration project. Complete with its original matching-numbers drivetrain and desirable 1600 ‘Super’ engine, the wonderfully distressed Speedster was offered without reserve, soaring past its high estimate to bring a final $307,500 after tremendous interest (est. $125k/150k).
In what was one of the most anticipated moments of the auction, the 2018 Porsche 911 Turbo Classic Series “Project Gold” came under the hammer to applause from the crowd and significant interest on the phones and in the room. An exciting ten-minute bidding competition ensued, with no less than 9 bidders in the room and on the phone, with the car eventually selling for an incredible $3,415,000 to a bidder onsite at the PEC. Project Gold is the final air-cooled 911 Turbo, built 20 years after the end of 993 production. This incredible undertaking began at the Porsche factory one and a half years ago with an existing genuine Type 993 body shell. The experts at Porsche Classic were able to rely on a selection of over 6,500 parts, assembling this “new” 993 Turbo S at the Porsche Classic restoration workshop near Stuttgart. An exciting car with a worthy cause, proceeds from the sale of Project Gold will benefit the Ferry Porsche foundation.
“After many months of preparation and cooperation with Porsche Cars North America, we were delighted to see so many like-minded enthusiasts, clients and collectors from all over the world make the journey to celebrate the marque’s 70th Anniversary at the most impressive Porsche Experience Center in Atlanta, Georgia,” said veteran Car Specialist and Auction Manager, Alexander Weaver, following the sale.
“The overwhelmingly positive response to the cars offered was characterized by a pool of global bidders that helped achieve outstanding prices for many models and numerous exciting moments throughout the auction. The Porsche market continues to establish its own baseline as we witnessed new Porsche enthusiasts join seasoned collectors to take part in bidding on rare and unique examples consigned to our first single-marque Porsche auction”.
RM Sotheby’s Porsche 70th Anniversary Auction – Top Ten Sales
|1. Lot 196||1985 Porsche 959 Paris-Dakar (# WP0ZZZ93ZS010015)||$5,945,000|
|2. Lot 220||2018 Porsche 911 Turbo Classic Series “Project Gold” (# 001/001)||$3,415,000|
|3. Lot 185||2015 Porsche 918 Spyder (# WP0CA2A18FS800796)||$1,407,000|
|4. Lot 205||1973 Porsche 911 Carrera RS 2.7 Prototype (#9113600012)||$1,325,000|
|5. Lot 175||1973 Porsche 911 Carrera RS 2.7 Lightweight (#9113601580)||$1,022,500|
|6. Lot 191||1985 Porsche 959 Prototype (# WP0ZZZ93ZFS010007)||$1,000,000|
|7. Lot 178||1980 Porsche 935 K4 (# 935-K4-02)||$885,000|
|8. Lot 192||1973 Porsche 911 Carrera RS 2.7 Touring (# 9113600463)||$698,000|
|9. Lot 217||1996 Porsche 911 GT2 (# WP0ZZZ99ZTS393096)||$643,000|
|10. Lot 183||2011 Porsche 911 GT3 RS 4.0 (# 009/600)||$566,000|
RM Sotheby’s will top off its 2018 calendar with the company’s first ever Los Angeles sale, set for 8 December at the renowned Petersen Automotive Museum. The auction will feature approximately 50 eclectic blue-chip automobiles in the incredible space provided by the Petersen backdrop, led by the 1956 Ferrari 290 MM, campaigned by Scuderia Ferrari for the 1956 and ’57 seasons and piloted by an amazing lineup of drivers including Juan Manuel Fangio, Phil Hill, and Sir Stirling Moss.
Complete results from RM Sotheby’s Porsche 70th Anniversary Auction and additional information on all upcoming RM Sotheby’s events are also available at rmsothebys.com.
- Results are listed in USD and include buyer’s premium.
- Results include select transactions that occurred immediately following the sale.
- All event images credited to Darin Schnabel © 2018 Courtesy of RM Sotheby’s
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About RM Sotheby’s
RM Sotheby’s is the world’s largest auction house for investment-quality automobiles. With more than 35 years’ experience in the collector car industry, RM’s vertically integrated range of services, from private sales and auctions (including both RM Sotheby’s and RM Auctions events) to estate planning and financial services, coupled with an expert team of car specialists and an international footprint, provide an unsurpassed level of service to the global collector car market. In February 2015, RM formed a strategic partnership with Sotheby’s, uniting the two companies for the full calendar of future automobile auctions. For further information, visit rmsothebys.com.
Source: RM Sotheby’s