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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:

Auto journalist ordered to pay big money for blowing up Porsche 917 engine [UPDATE]

Racecars blow engines all the time, but a Porsche 917 isn't just a run-of-the-mill racecar. British automotive writer Mark Hales reportedly borrowed a 917 from 82-year-old former Formula One racer David Piper for a magazine article, and mechanical tragedy ensued. Nobody is arguing that the engine failed after being spun to 8,200 rpm. However, Hales was warned not to exceed 7,000 rpm, says owner Piper, and the affair landed in English courts with Piper seeking £50,000 - over $79,000 US - in reimbursement funds for an engine rebuild and loss of use of the car while it was being repaired. Judge Simon Brown ruled in favor of car owner Piper, putting Hales on the hook for £110,000 ($174,000) including legal fees - a whole lot of money in any language.
Hales says the Porsche suffered a mechanical fault while lapping that allowed it to slip out of gear and over-rev. Piper wasn't convinced, and sought to have the repair paid for by the guy who broke the racer, saying "If you bend it, you mend it." It's not like Hales is a novice driver, having seat time in both professional and amateur races over 30 years, notching about 150 wins, but even the best drivers sometimes miss a shift, and that's what Piper contended happened to his car.
According to reports, Hales has had to sell most of his valuables to pay his lawyers and is now facing bankruptcy with the ruling against him. Members of the Pistonheads website are trying to coordinate a collection to help him out, as well.

Porsche considering turbo for new GT3 RS [w/poll]

Some automakers make one hardcore version of a sports car and are done with it. Or at least they make one at a time. Think Ferrari 458 Speciale, Lamborghini Gallardo Superleggera (or Super Trofeo Stradale or Squadra Corse) or Maserati GranTurismo MC. But not Porsche. It transforms the 911 into the hard-core GT3, the even harder-core GT3 RS, the you've-got-to-be-psychotic GT2 and the do-you-have-a-death-wish GT2 RS. The RS models take things to a further extreme, but what separates GT3 from GT2 models has traditionally been the use of foced induction: GT3s are naturally aspirated, while GT2s go turbo. But that could all be about to change.
According to the rumors making their round of the webosphere, Porsche is considering using a turbocharged engine for the next GT3 RS. The reason is that, as we all know, Porsche has already pushed the 3.8-liter flat-six in the existing GT3 about as far as it can go, and then some. And buyers expect not only a more bare-bones package with the GT3 RS, but also a bit of extra power.
Given that everything seems to be going turbo these days, the move might make some measure of sense, especially if Porsche wants to avoid with the GT3 RS the spontaneous combustion issues it faced with the GT3. But we can't help but wonder why, at that point, it wouldn't just skip the GT3 RS and go straight for the GT2.