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Porsches take pride of place in Paris sale

Relaxnews (AFP) logoRelaxnews (AFP) 9/02/2017

It may only be February but the results from the RM Sotheby's Paris classic car auction suggest that 2017 is shaping up to be the year that Porsche comes into its own as a collectable marque.

Thanks to German engineering, Porsches are phenomenal fun to drive but have never performed phenomenally well at auctions. The know-how that helps them get round a track quickly also ensures that they don't disintegrate into rust. As a result some 86% of all 911s ever built are still on the road.

And this is why the marque has never reached the same classic car heights as Ferrari or Aston Martin. Porsches aren't rare enough to be genuinely collectable.

However, all of that is changing. Of the 76 automotive lots included in Wednesday night's sale at Place Vauban in Paris's well-heeled seventh arrondissement, 26 were Porsches -- the oldest a 1955 356 Pre-A 1600 Speedster and the newest, a 2016 911R with just delivery mileage on the clock. But regardless of age, all of the Porsches up for auction generated huge bidding battles and set records in the process.

An ultra-rare 1988 Porsche 959 Sport went under the hammer for a world record figure of €1,960,000. A prototype convertible 901 from 1964 (the year before Peugeot forced Porsche to rename the car the 911 because of potential copyright infringement) secured a winning bit of €649,600. And the aforementioned speedster also achieved a €369,600 sale price.

However, the big surprises came when essentially modern cars form Stuttgart were offered. A 1994 Porsche 911 Turbo S 3.6 fetched €901,600; a 2010 911 GT3 RSR went for €470.400 (two times its estimate); and a 1995 Porsche 911 Turbo Cabriolet for a phenomenal €1,344,000.

Even a 2016 911R -- which six months ago was bought from Porsche for €150,000 -- sold for €515,200.
"Clearly, Porsche is still the star marque in the ascendance," said Peter Wallman, Managing Director, RM Sotheby's Europe, referencing the company's recent London sale last September where a collection of perfectly preserved Porsche 911s went for huge sums.

"That sale was a game changer for Porsche," explains RM Sotheby's spokesperson Peter Hynes "Those cars went for what can only be described as ‘crazy money,' the likes of which the market had never seen before."

Wednesday's results suggest that the London sale was no flash in the pan and that demand for Porsche is about to hit a peak. And we won't have to wait long to see if this trend is set to continue. At Amelia Island on March 10-11 there will be a further 22 Porsches going up for auction.

A row of Porsches at the RM Sotheby's Paris 2017 sale at Place Vauban © Provided by AFPRelaxNews A row of Porsches at the RM Sotheby's Paris 2017 sale at Place Vauban A 1964 Porsche 901 Cabriolet Prototype surrounded by other Porsches © Provided by AFPRelaxNews A 1964 Porsche 901 Cabriolet Prototype surrounded by other Porsches
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