RM Sotheby Auction Watch: The $125,000 928?

Sea Change?

Not so long ago, the 928 was the black sheep of pre-owned Porsches. "I just picked up the former top-of-the-line Porsche for eight thousand bucks!" was greeted with jeers and jibes about $1K alternators and worse. You didn't own a 928, it owned you. But maybe that was exactly because the price of admission was so low. After all, nobody balks at $10K-and-up regularly-scheduled service stops for an Italian exotic. With the last 928 rolling off the line nearly 25 years ago, age has imparted respect, nostalgia, and perhaps even appreciation to the 911's huskier brother. You wouldn't think a car holding the title of Former Fastest Car in America would need any help with its rep, but this is a liquid-cooled, front engine Porsche with unique lines we're talking about, and one whose existence almost perfectly tracked the unfashionable 'malaise' era of automotive production. Well, fashions change. RM Sotheby's hopes they've changed to the tune of $125,000 - $150,000 for the big-for-its-day Porsche when they unleash this 1995 928 GTS on their Monterey 2018 auction.

A Brief History of Time

Let's put aside for a second how the 928 almost replaced the 911, and focus on the idea of a Porsche grand touring car, one suitable for logging high-speed miles on the highways of, and sales in the showrooms of, the U.S. of A. Porsche spent six years and buckets of Deutschmarks developing their idea of the perfect GT car—an idea which included a mid/front-mounted liquid-cooled 4.5-liter SOHC V8, and a rear-mounted transaxle driving the car's rear wheels. The layout yielded 'perfect' 50/50 weight distribution and allowed for a comfortable passenger compartment.

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Horses

When Porsche unveiled the 928 in 1977 its engine produced 240 hp, and was tuned to balance performance with fuel economy. The 2+2 coupe also sported passive rear-wheel steering via the automaker's Weissach Axle system, designed to improve cornering manners. Later years brought more power, with a 4.7-liter SOHC 16-valve engine followed by a 5.0-liter DOHC 32-valve affair. The model up for grabs in Monterey is the small production run GTS model boasting 345 hp from its 5.4-liter V8 variant.

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GTS Goodness

GTS model 928s also featured ampler braking abilities and offered a beefed-up manual gearbox to cope with the car's greater power, as well as coming wrapped in updated bodywork. Fully-opted, a 928 GTS could have topped $100,000 in 1995. Over its 18-year lifespan, 61,000 928s were sold, though Porsche was only able to find 77 buyers for GTS models in 1995, and production ceased for all 928 models that same year.  

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What Do I Get for My Money?

This GTS completed construction on December 12, 1994, construction which included an automatic transmission, making it one of only 47 1995 GTSs so-equipped. The car includes a Porsche Certificate of Authenticity detailing its specification and options, including its very-1990's six-disc CD changer. Other goodies include insanely cold A/C, superbly comfortable seats, an electric sunroof, and wheel caps brandishing Porsche crests. 

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Could You be the One?

Now for the good stuff. The GTS up for grabs was originally purchased by a doctor in Beverly Hills, California, (not Doc Hollywood, he drove a Speedster) who put on a grand total of 4,000 miles over the course of 21 years. The next owner, a Texan who is said to have properly maintained the Porsche, only racked up another 200-ish miles, bringing the total mileage up to 4,231. The car's original condition and extremely low miles undoubtedly make it one of the best 928s out there.

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The 125,00 Dollar Question

Considering the car's original sticker price, especially after adjusting for inflation, the auction estimates of $125,000 - $150,000 could be a bit of a bargain, especially if a 928 is what you really want. Of course, Porsche makes faster cars that can currently be had for that amount if all you want is a fast Porsche. The bigger question might be: is 23 years long enough to reach a verdict on the 928? Certainly, the GT has been undervalued in the past, and it remains a comfortable and speedy vehicle with one-of-a-kind looks. While not the highest production performance car, it's also not the lowest, so collectors can have their pick of the model. Will the original, with its unapologetically quirky styling be the hot ticket, or will the bowdlerized looks and increased power of later editions capture the flag? Only time will show us the complete picture but we'll have a piece of the puzzle come Monterey auction time. 

>>Join the conversation about this 928 going under the gavel at Monterey right here in Rennlist.com.

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