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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: 1988 Pontiac 6000 LE Safari Wagon

The Detroit station wagon was fast losing sales to minivans and trucks as the decade of the 1980s progressed, but Pontiac shoppers still had plenty of choices as late as the 1988 model year. A visit to a Pontiac dealership in 1988 would have presented you with three sizes of wagon, from the little Sunbird through the midsize 6000 and up to the mighty Parisienne-based Safari. Today's Junkyard Gem is a luxed-up 6000 LE, complete with "wood" paneling, found in a car graveyard in Fargo, North Dakota. Confusingly, the "Safari" name in 1988 was used by Pontiac to designate both a specific model — the wagon version of the Parisienne/Bonneville— and as the traditional Pontiac designation for a station wagon. That meant that the wagon we're looking at now was a Safari but not the Safari in the 1988 Pontiac universe. The 6000 lived on the GM A-Body platform, as the Pontiac-badged version of the Chevrolet Celebrity. Production ran from the 1982 through 1991 model years, with the A-Body Buick Century surviving all the way through 1996. The LE trim level came between the base 6000 and the gloriously complex 6000 STE (which wasn't available in wagon form, sadly). I visited this yard in Fargo after judging at the Minneapolis 500 24 Hours of Lemons in Brainerd, Minnesota, last fall. Up to that point, I had visited 47 of the Lower 48 United States, with just North Dakota remaining, so I made a point of doing a Fargo detour in order to check that state off my list. I'm pleased that I found such a good example of the 1982-1996 GM A-Body in this yard, because the most famous of all the A-Bodies is the 1987 Oldsmobile Cutlass Ciera driven to Brainerd by the inept Fargo-based kidnappers in the film "Fargo." This Minnesota-plated 6000 had some rust, but just negligible levels by Upper Midwestern standards on a 31-year-old car. The interior looked very good, with the original owner's manual still inside. The 6000 LE boasted "redesigned contoured seats and London/Empress fabric," which sounds pretty swanky. Something less swanky lives under the hood: an Iron Duke 2.5-liter pushrod four-cylinder engine, known as the Tech 4 by 1988. The Iron Duke was, at heart, one cylinder bank of the not-quite-renowned Pontiac 301-cubic-inch V8; while fairly rugged, the Duke ran rough (typical of large-displacement straight-four engines) and made just 98 horsepower in this application. Pontiac offered a couple of optional V6s in the 6000 in 1988, but no Quad 4.

German prosecutors have recorded calls between VW bigwigs talking dieselgate

It's barely possible to believe how poorly Volkswagen continues to handle dieselgate. Depending on which day you catch the news, the German carmaker embodies the corporate venality of "Michael Clayton," the comic blundering of the Coen Brothers' "Burn After Reading," and the every-man-for-himself vengeance of "Reservoir Dogs." Today is Tarantino day, with news that German prosecutors have recordings of phone calls between former Audi and Porsche development boss Wolfgang Hatz, ex-Volkswagen Group executive Matthias Muller, and current Porsche executives Oliver Blume and Michael Steiner. Hatz made the calls to the trio in November 2015, two months after Volkswagen admitted its diesel-particulate sins to the U.S. Environmental Protection Agency. Hatz was still employed at the time, and in his company car. Who recorded the calls? His wife. Hatz and his missus apparently saw the storm coming and started stacking defenses early. Hatz's wife, who can be heard encouraging Hatz during at least one call, sent the recordings to Hatz's attorney from her mobile phone. According to a Google translation of the German newspaper Handelsblatt's report, she included the note, "Here is a very long, but quite informative conversation on the current situation with useful formulations." The report in Handelsblatt said that in Germany it is generally "not allowed" to record a conversation and pass it on to a third party. We don't know how the authorities will handle this matter, since prosecutors found the recordings in e-mail attachments on Mrs. Hatz's mobile phone. Remember, when the diesel scandal broke, VW spent months saying that only a small number of low-level personnel were behind it, and all of the higher-ups had been blindsided. Ex-CEO Martin Winterkorn claimed to be "stunned that misconduct on such a scale was possible in the Volkswagen Group." Winterkorn successor Matthias Muller said, "according to current information, a few developers interfered in the engine management." Former VW USA honcho Michael Horn told a congressional committee that "a couple of software engineers" programmed the software for reasons no one could understand. In the recorded conversations, Hatz apparently called Muller to find out how VW planned to treat him.