2009 Pontiac G6 Gt Sedan 3.5l V6 Like New! Retail Value: $11,250!! 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:

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:

'67 Chevy Corvair convertible vs. '86 Pontiac Fiero in cult classic showdown

Every few a decades, the folks running General Motors lose their minds briefly try to market a car that public doesn't see coming and often aren't ready for. In the '60s there was the rear-engine, air-cooled Chevrolet Corvair, then the mid-engine Pontiac Fiero in the '80s and the completely bizarre Chevy SSR in the 2000s. What all of these had in common was that they bucked the trend for American models of their era, for better or worse. The latest episode of Generation Gap tasked the hosts with finding two cult classic vehicles to choose between; they came come up with two of these quirky products from The General.
On the classic side, there's a 1967 Chevy Corvair Monza convertible. Being from later in the production run, it wears slightly more aerodynamic styling than the earlier, boxier examples. Hanging out back is an air-cooled, 2.7-liter flat-six pumping out a robust 95 horsepower. In the other corner is the somewhat more modern 1986 Pontiac Fiero SE with a mid-mounted, 2.5-liter "Iron Duke" four-cylinder, an engine nearly ubiquitous in GM cars of the '80s.
Judging by when they were new, the Corvair was far more successful than the Fiero with over 1.8 million sold. Of course, Ralph Nader's book Unsafe at Any Speed kind of poisoned the well, even if the poor safety reputation wasn't entirely deserved. The Fiero on the other hand only lasted for a few model years before shuffling off, but it eventually got its own performance boost with the V6 version and rather attractive GT models. Check them both out in the video and tell us in Comments which you want in your garage.