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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:

The last Pontiac Fiero sold for $90,000 at auction

On August 16, 1988 the last Pontiac Fiero, a red GT model, rolled off the assembly line at GM's Pontiac Assembly plant located in Pontiac, Michigan. It wasn't just the final Fiero, but the final car to be built at that site. The car was raffled off to one of 1,400 plant employees that would soon have to find jobs elsewhere. Whoever that employee was, they remained faithful to the Fiero and kept it in mint condition for 32 years. Last month, it was finally time to move on. It crossed the block at GAA Auctions in Greensboro, North Carolina where it sold for an astounding $90,000. According to the auction house, that's a new world record. The price no doubt reflected the car's place in history as the last example of GM's 1980s mid-engined sports car. However, it was also showroom-new, with just 582 miles clocked on its 2.8-liter V6. 1988 models were also fitted with an upgraded, Lotus-esque suspension produced for just that one year. In addition, this car, serial number 226402, came with its original build sheet, photos from the assembly line, and a collection of news articles and books. It still wore its pre-delivery plastic on the interior and was fully loaded with automatic transmission. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The car's custodian for the past 32 years must be pleased. Bidding started at $25,000 but soon rocketed past the $65,000 reserve. You can see the action starting at the 2:50:13 mark in the video above. The Fiero was symbolic of the 1980s and stood out from the standard GM passenger car fare for its mid-engine layout and plastic body panels. In an era when GM often rebadged cars with minimal differences, the Fiero rode on its own unique chassis. It was positioned as one of the defining products for Pontiac, GM's "excitement" brand, but actual performance never quite lived up to its striking looks.  Nevertheless, it garnered a cult following. It's often the basis for (questionable) custom builds mimicking more exotic models like Ferraris and Lamborghinis, thanks to a steel space-frame design that allows body panels to be easily removed. Thankfully, this significant example escaped such a fate and will live on as a reminder of an interesting chapter of automotive history.

The prized golden 1965 Pontiac Hurst GeeTO Tiger is headed to auction

Once upon a time, a Pontiac advertising executive named Jim Wangers created a countrywide contest with this gorgeous 1965 Pontiac Hurst GTO serving as the grand prize. The contest was centered around "GeeTO Tiger," a song by musical artists The Tigers. A 19-year-old took home the golden muscle car at the time, but now anybody can buy the rare car through an upcoming Mecum auction.  As a way to boost sales and awareness of the Pontiac GTO and its performance parts, Wangers partnered up with Royal Pontiac, George Hurst, and Petersen Publishing in 1965 to create a contest. Royal provided the car, Hurst dressed it up, and Petersen distributed the contest in publications across the country.  In order to participate, people were asked to provide a reason why they wanted the car and identify how many times the word "tiger" was used in the promotional song "GeeTO Tiger" (pronounced G-Tee-Oh) by The Tigers. A 19 year-old kid named Alex Lampone from West Allis, Wisconsin, won the contest and took delivery of this jazzed-up GTO at the 1965 NHRA Indy Nationals.  This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The Tigers - GeeTO Tiger The prize car was completely kitted out and described by Wangers as "the nicest GTO you could put your hands on." It had more than 28 factory options, including a black cordova top, power windows, power steering, power brakes, a tilt steering wheel, a power driver's seat, dual-speed windshield wipers, a custom sport steering wheel, a rally gauge cluster, a push-button AM/FM radio with power antenna, and a Verba phonic rear speaker. What makes it stand out is the Hurst-inspired gold theme, which includes gold paint, gold mag wheels, and a gold-plated Hurst Shifter. Under the hood, this GTO has a Tri-Power 389 V8 engine that pairs with a four-speed manual transmisison. It also has a 3.55 Safe-T-Track rear axle and dual exhaust. Throughout the years, this car has exchanged hands many times and has undergone a few changes. It's been repainted, and the engine has also been rebuilt, but Mecum says it's otherwise highly original. Ony 59,000 miles have turned over on the odometer.  The GeeTO Tiger Pontiac is scheduled to go up for auction in Indianapolis this June. Visit Mecum for more information. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Woodward Dream Cruise Time Lapse Video