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'We're not a hedge fund': Porsche plans to curtail speculators and flippers

A sizable number of speculators view cars as an investment. Rare or unusual models are quickly snapped up and either parked for years or flipped for a profit. Cars from automakers like Porsche and Ferrari are more prone than others, and at least some people behind these models are getting a bit tired of it. While it's difficult to police what goes on after you sell a car, Porsche has some plans that might curtail the problem before it starts. Andreas Preuninger, the head of GT road-car development and the man behind the new 911 GT3, spoke to Car and Driver at a recent event. "I personally like to see my cars being used," he said. "That's what we build them for. They are just too good to be left to stand and collect dust." One recent example of this rampant speculation is the 911 R. While the special manual-only model sold for $185,950 when new, used versions were selling for nearly $1.3 million just months after it went on sale. While the car is a masterpiece and an instant classic, a good number will be parked and simply used as art and not the rolling testaments to the man/machine interface they were intended to be. The concern over valuations has become so fierce that some owners are upset that Porsche is offering the new 911 GT3 with a manual transmission, fearing that it may hurt the value of the 911 R. "When I said we're not a hedge fund, I'm talking to those people who are yelling at us for offering the manual transmission similar to the R," Preuninger said. "But if there are people wanting to buy cars like that, then as a company we should try to fulfill that, to meet that demand." It seems Porsche is keeping a close eye on who is flipping cars. Since there is often far more demand than supply with certain models, the German automaker has a name for every car before it's built. Buyers with bad reputations might not even make the wait list. Related Video:

Junkyard Gem: 1997 Pontiac Sunfire SE Convertible

For the entire 24-year production run of the GM J platform (best known for the Chevrolet Cavalier), the Pontiac Division offered new J-Body cars for sale in the United States. First there was the J2000, followed in quick succession by the 2000, 2000 Sunbird and Sunbird. The Sunbird stuck around until the Cavalier got a major redesign for the 1995 model year, at which point Pontiac changed the car's name to Sunfire. Today's Junkyard Gem is one of those early Sunfires, a top-of-the-line SE convertible with the optional big engine and manual transmission. The Sunfire was an extremely close sibling to the same-year Cavalier (by the late 1980s, all the other US-market GM divisions had dropped their J-cars, which meant no more Skyhawks, Cimarrons or Firenzas), quite difficult to distinguish from its near-twin at a glance. The base engine for the 1997 Sunfire convertible was the pushrod 2.2-liter straight-four that powered so many J-bodies of the 1990s. That engine produced just 120 gnashing, valve-floating horsepower, not much by late-1990s standards. For a mere 450 additional dollars, however, the 2.4-liter Twin Cam engine and its high-revving 150 horses could be had by '97 Sunfire buyers. That's what's in this car. This is one of the members of the Oldsmobile Quad 4 family, though some fanatics will yell at you if you apply that name to the versions that don't have big QUAD 4 lettering cast into the valve cover. This is the most powerful engine ever used in production Sunfires. For 1997, Pontiac offered a four-speed automatic transmission for no extra cost in the Sunfire convertible. Buyers of all other Sunfire models that year had to shell out either $550 or $810 ($1,026 or $1,511 in 2023 dollars) for a two-pedal rig. That means that the buyer of this car really wanted the five-speed manual transmission (or just hungered for the $810 credit offered in the fine print for takers of the manual). Plenty of free-breathing engine power, five-on-the-floor driving enjoyment and the open skies above. What a fun car! This one made it to nearly 180,000 miles. For this car with the Quad 4 under the hood and a clutch pedal on the floor, the MSRP was $18,539 (about $34,584 today). Its Cavalier LS convertible twin with the same engine/transmission setup cost $17,365 ($32,394 now). This car has a bunch of options, including the 15" Rally aluminum wheels, so the out-the-door price would have been higher. The last year for the Sunfire was 2005, same as the Cavalier.

The last Pontiac Fiero sold for $90,000 at auction

On August 16, 1988 the last Pontiac Fiero, a red GT model, rolled off the assembly line at GM's Pontiac Assembly plant located in Pontiac, Michigan. It wasn't just the final Fiero, but the final car to be built at that site. The car was raffled off to one of 1,400 plant employees that would soon have to find jobs elsewhere. Whoever that employee was, they remained faithful to the Fiero and kept it in mint condition for 32 years. Last month, it was finally time to move on. It crossed the block at GAA Auctions in Greensboro, North Carolina where it sold for an astounding $90,000. According to the auction house, that's a new world record. The price no doubt reflected the car's place in history as the last example of GM's 1980s mid-engined sports car. However, it was also showroom-new, with just 582 miles clocked on its 2.8-liter V6. 1988 models were also fitted with an upgraded, Lotus-esque suspension produced for just that one year. In addition, this car, serial number 226402, came with its original build sheet, photos from the assembly line, and a collection of news articles and books. It still wore its pre-delivery plastic on the interior and was fully loaded with automatic transmission. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The car's custodian for the past 32 years must be pleased. Bidding started at $25,000 but soon rocketed past the $65,000 reserve. You can see the action starting at the 2:50:13 mark in the video above. The Fiero was symbolic of the 1980s and stood out from the standard GM passenger car fare for its mid-engine layout and plastic body panels. In an era when GM often rebadged cars with minimal differences, the Fiero rode on its own unique chassis. It was positioned as one of the defining products for Pontiac, GM's "excitement" brand, but actual performance never quite lived up to its striking looks.  Nevertheless, it garnered a cult following. It's often the basis for (questionable) custom builds mimicking more exotic models like Ferraris and Lamborghinis, thanks to a steel space-frame design that allows body panels to be easily removed. Thankfully, this significant example escaped such a fate and will live on as a reminder of an interesting chapter of automotive history.