1968 Pontiac Firebird Convertible on 2040-cars

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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: 1989 Pontiac 6000 STE AWD

During the middle to late 1980s, General Motors made a big push to grab back some of the sales swiped by makers of European luxury machinery during the previous decade. Around the top of the prestige pyramid, there was the Turin/Hamtramck-built Cadillac Allante taking aim at the Mercedes-Benz 560SEC and the super high-tech Buick Reatta trying to seduce away BMW and Jaguar shoppers; even the Riviera offered a futuristic touchscreen computer sorely lacking in anything out of Stuttgart or Bavaria. The General had a plan to take on the smaller German sporty sedans, too, and Pontiac of the "We Build Excitement" era offered a midsize sedan packed with modern hardware at a great price: the 6000 STE. Here's one of the rarest 6000 STEs of them all, an all-wheel-drive-equipped '89 found in a Denver-area yard last week. Any 6000 STE is extremely hard to find today; when I wrote about a front-wheel-drive 1987 6000 STE back in 2018, desperate owners of these cars filled my inbox with requests — sometimes demands —  for parts that continue to this day. Many of them pleaded with me to help them find an all-wheel-drive version, and now I have managed to find one at Colorado Auto & Parts in Englewood, just south of Denver (in fact, the same yard at which I shot the '87). You may recall CAP as the old-school yard whose owners built the amazing airplane-engined 1939 Plymouth pickup a few years back.  The all-wheel-drive system on the 6000 STE was introduced for the 1988 model year, and it became standard equipment on the 1989 STE. At this time, the automotive industry had taken note of the success of the idiot-proof all-wheel-drive systems offered by AMC and Audi/Volkswagen; Toyota began selling Americans all-wheel-drive Camrys, Celicas, and Corollas, while Ford offered the Tempo and Topaz with optional AWD and Subaru was just beginning to make the switch from manually-selected four-wheel-drive to genuine all-wheel-drive around that time (it took a few more years for everyone to standardize on the 4WD/AWD terminology we use today, though). The 6000 STE AWD was intended to compete with such all-wheel-drive-equipped sedans as the Audi 80 ($23,610), Audi 90 ($28,840), and BMW 325iX ($30,750); its $22,599 price tag (about $50,700 in 2021 dollars) certainly made it seem like a bargain compared to those cars. In addition to the all-wheel-drive system, 1989 6000 STE owners got a digital instrument panel and more switches and buttons than the Space Shuttle.

Burt Reynolds Smokey and the Bandit Trans Am sells for $450k

Apparently, there's still a lot of love out there for by Burt Reynolds and his famous role in Smokey and the Bandit – or at least for his car. As you might remember, Autoblog reported on the auction of the 1977 Pontiac Trans Am a few week ago. At the time, the movie star's car was already well past its $80,000 top estimate, and bidding only shot up from there for a final price of $450,000. That seems like a lot of money for a Trans Am that never actually appears in Smokey and the Bandit. According to the listing, the car was used to promote the film and was given to Reynolds afterward with his name on the title as proof of ownership. The Trans Am looks practically identical to the one in the movie with black paint, the gold firebird on the hood and Bandit name on the driver's door. This one packs a 400-cubic-inch (6.6-liter) V8 with a 4-barrel carburetor under the hood, an automatic transmission and a plaque inside the door that proclaims "1977 Pontiac Trans Am Owned By Burt Reynolds." The wedding stagecoach based on an International Harvester Scout we mentioned in the earlier story also beat its top estimate of $20,000. It went for $34,375, according to the auction house's website, and in total the sale raised about $2.5 million. Scroll down to read the full announcement from Julien's Auctions. LEGENDARY STAR BURT REYNOLDS PROVES TO BE AS ICONIC AS HIS AUCTION RESULTS "Smokey and the Bandit" Trans Am Sells for $450,000 Career Memorabilia including Awards, Personal Items and Film Worn Costumes along with Vast Art Collection from Reynolds Museum Caliber Private Collection Featured at Julien's Auctions This Week Brings in $2.5 million Las Vegas, Nevada – (December 15, 2014) – Julien's Auctions, the auction house to the stars concluded a whirlwind two-day auction of The Collection of Award Winning Actor Burt Reynolds. The exciting auction event featuring personal effects, career memorabilia, and a museum-caliber fine art collection took place at the Palms Casino Resort Thursday and Friday with bidders from around the world bidding high and bidding often. Burt Reynolds, best known as a leading film star, has had a storied career both on the big and small screen. Aside from his award winning portrayals of some of the world's most iconic characters in film and television, Reynolds is also a businessman who has owned a football team, a dinner theatre, a working ranch and even a museum.