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What's driving the spike in air-cooled Porsche 911 prices

Classic car prices have been racing skyward in general, but prices for air-cooled (pre-1999) Porsche 911s are ascending like they're strapped to rocket boosters. It's been going on for years, and every year people are surprised by how outrageous it's getting: Classic Driver covered it this month, as did The Truth About Cars who included this example of a "scruffy" 1993 RS America with 215,000 miles asking $80K; Mike Spinelli at Drive riffed on it at length last year along with a host of classic-car-market observers; Porsche forums were at it two years ago; and let's not even get into the 993 Turbo, going for prices so high you have to lie down to look at them. Speed Academy has run a piece looking at why it's happening, one theory being that regular-guy owners are hopping on the runaway-price wagon without any good reason. As in the example of that high-mileage, scruffy 911 RS America at Bring a Trailer, the owner sees pristine examples valued by Hagerty at $170,000, and even though the average value is $93,238 he thinks something like, "Mine's got to be worth half of top dollar ..." The tide - even one rising on air - makes it hard to find decent prices. Then there is the flood of money into the market. In spite of articles that try to temper investors' outlooks on collectible cars, other articles in places like the Financial Times and the Guardian promote vintage metal as a safe place to put money and reap astonishing returns. Speed Academy thinks one side effect of high 911 prices is that responsible enthusiasts are turning their attention to cars like the BMW 2002, E30 M3, and E9 3.0CS, saying their prices are "sharply on the rise." The entire article is worth a read since it goes into markets far afield from pricey German steel, but incredibly, the entire piece was actually inspired by a 1997 Acura Integra R that sold for $43,000 on eBay. So while this could be the best time to get into the classic car market if you know what you're doing, it is certainly the best time to do your homework. Related Video:

Burt Reynolds' old Pontiac Trans Am replica sold for $317,500

Following Burt Reynolds' passing last September, Julien's Auctions held an estate sale of the late actor's property on June 15-16 in Beverly Hills, Calif. Hundreds of items were included in the auction, but none more valuable than the Pontiac Trans Am Bandit replica previously owned by Reynolds. It easily surpassed expectations when it sold for $317,500. Julien's, the self-proclaimed experts in contemporary and pop culture, listed 876 pieces in the sale, from cowboy boots to a driver's license to scripts. The online preview said it estimated a range of prices from $25 to $200,000. They were way off. Item No. 716 was a replica of a Pontiac Trans Am Bandit that was seen in the original "Smokey and the Bandit." Not the real car, just a re-creation. But its value comes more from who owned the ride rather than what the car was. The replica was owned by Reynolds for some years, and now that he's passed, it's coveted even more. It's not the only Trans Am item that sold at auction. Three Reynolds Trans Am model cars sold for $640, $576 and $512. A Reynolds-signed "Bandit" poster sold for $3,200. A Reynolds-signed poster from the Trans Am plant sold for $1,562.50, a Reynolds custom-built Trans Am office desk sold for $4,375, and a "Smokey and the Bandit" decorative etched glass panel sold for $896. This isn't the first time a Bandit replica has sold for big money. In 2016, a promotional Trans Am sold at a Barrett-Jackson auction for $550,000. We also believe the exact car sold in this Julien's auction was previously bought at a Barrett-Jackson auction in 2018 for $192,500. If that's the case, somebody just made an extremely easy profit.

Looking Back At Oprah's Free-Car Giveaway 10 Years Later

Molly Vielweber's Pontiac G6 appears unremarkable at first glance. It wears forest green paint, rolls on five-spoke aluminum wheels, and it has a sizeable scrape in the driver's side door, the scar of a decade's worth of hard use. You wouldn't notice it parked at a big box store or cruising on the highway. Pontiac made hundreds of thousands of G6s in the 2000s, and a lot are still on the road. It's unremarkable in every way except for the front license plate, which reads, "Oprah 6." But this is not just any G6. This car is a part of television history. Vielweber won her G6 10 years ago at a taping of The Oprah Winfrey Show, when Oprah kicked off her 19th season in dramatic fashion by giving all 276 members of the studio audience a free car. It was an unprecedented stunt that changed lives, generated controversy and ultimately failed to provide enough of a marketing lift for Pontiac, which would be shuttered just over five years later. September 13 marks the 10-year anniversary of the memorable event, which caught everyone, including audience members, by surprise. In a masterful display of showmanship, Oprah dialed up the suspense to match the enormity – and cost – of the event. First she gave away 11 cars, which would have been a landmark TV promotion by itself. But then she coyly announced: "I've got a little twist." Models circulated throughout the audience carrying silver platters loaded with white boxes wrapped in red ribbon. One contained a set of keys, Oprah implied, for another audience member to win the final car. "Do not open it. Do not shake it," she commanded the crowd. Finally, with the suspense built to a fevered pitch, everyone opened their box. They all had keys. "You get a car! You get a car! You get a car! You get a car! Everybody gets a car!" Oprah exclaimed. "Everybody gets a car! Everybody gets a car!" This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Everybody did get a car. But not everyone kept it. William Toebe attended the show with his wife, Jillaine, and he immediately thought of the tax implications, which stretched to $6,000 or more for some audience members. It was a tough reality for many in the audience that day, some of which had been selected based on their need for a new car. "That responsible part of me stepped forward and wondered 'where am I going to get the money to pay the taxes?'" he recalled.