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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:

Junkyard Gem: 2009 Pontiac G3

Things weren't looking so rosy for Pontiac Division in late 2008, as The General had troubles of its own that culminated in Chapter 11 bankruptcy in June of 2009. Meanwhile, the Solstice and G8 had failed to revive Pontiac's youthful "excitement" image. Naturally, this seemed like the ideal time to put Pontiac badges and a new grille on the Chevrolet Aveo (itself a rebadged Daewoo Kalos) and call it the G3 (in the United States) or the G3 Wave (in Canada). Sales were not brisk, to put it mildly, and the 2009-only G3 has become one of the rarest modern Pontiacs in the junkyard world. The announcement of Pontiac's demise came in the spring of 2009, with the very last Pontiac-badged vehicle built being either a G3 or a Vibe (since those cars were really Daewoos and Toyotas, respectively, the true final Pontiac was the 2010 G6). The Aveo itself disappeared after the 2011 model year, replaced by an updated Kalos design known here as the Chevrolet Sonic. As a result of the GM bankruptcy, termination of the Pontiac brand, a nasty worldwide recession, and the preference of American vehicle shoppers for trucks or at least truck-shaped cars, few knew the G3 existed and fewer still thought to buy one. This is only the second G3 I've managed to find in a car graveyard, and I've been searching diligently.  So, it's a Junkyard Gem in the historical sense, not in the sense of being the kind of car you'd want to take to your 20th high school reunion. That said, it has power windows, air conditioning, and a CD player— pretty nice stuff for a dirt-cheap econobox from a decade back. And look! An AUX jack for your iPod or early-model smartphone. I drove dozens of cheap rental cars for my job with the 24 Hours of Lemons Traveling Circus during the late 2000s, and very few had this feature; until about 2013 or so, you had to travel with your own CDs or one of those horrible wireless FM modulators if you wanted to listen to anything other than the radio in a non-high-roller rental car. Under the hood, a 106-horse Daewoo Ecotec displacing 1.6 liters. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. If there were any television commercials for the G3, I guarantee that they weren't as fun as this one— set in the California high desert, of course— for the SKDM Kalos.

Junkyard Gem: 1968 Pontiac Catalina sedan

During the late 1960s, General Motors ruled the American car landscape, growing so dominant that the federal government considered antitrust action to break up the company. The General offered sporty Corvettes and muscular GTOs and rugged pickups and opulent Fleetwoods, sure, but the fat part of the sales numbers came from the bread-and-butter full-sized sedans and coupes, which boasted superior engineering and modern-looking styling; in 1967 alone, the Chevrolet Division moved 972,600 full-sized cars, and that's not even counting the 155,100 full-sized Chevy station wagons that year. Pontiac, Buick and Oldsmobile sold the same big cars with division-specific engines and bodywork, and they flew off the showroom floors. For 1968, the entry-level full-sized car from Pontiac was the Catalina, and I've found an example of the most affordable version of the most affordable big Pontiac for 1968, discarded in a northeastern Colorado wrecking yard about 50 miles south of Cheyenne, Wyoming. A '68 GM full-sized coupe, convertible, or even a four-door hardtop might be worth the cost and effort of a restoration, but a no-options base-trim-level post sedan with rust and plenty of body filler just won't get many takers these days. Like so many vehicles that sit outside for decades on the High Plains, this one is full of rodent nests. I wouldn't want to work on the interior of this car without a respirator and a lot of work with a shop-vac, because hantavirus is a significant danger in these parts. Alfred Sloan's plan to offer a stepladder of prestige for GM buyers, in which your first new car was a Chevrolet and you moved up through Pontiac, Oldsmobile, and Buick until you became sufficiently prosperous for Cadillac ownership, worked brilliantly for decades. In 1968, the Catalina was a notch above its Impala sibling on the Snob-O-Meter, with the sedan starting at $3,004 (about $22,600 in 2019 dollars). In fact, the V8-equipped 1968 Chevrolet Impala sedan listed at $3,033, and the Oldsmobile Delmont 88 went for $3,146, so the lines were beginning to blur between the relative positions of the lower-end GM divisions by this time. The base engine in the 1968 Catalina was a 400-cubic-inch (6.5 liter) V8 rated at 265 horsepower and enough torque to tow an aircraft carrier.