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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: 1984 Pontiac Fiero with supercharged 3800 V6 swap

Like the Corvair, the Vega, and the Citation, the Pontiac Fiero was a very innovative machine that ended up causing General Motors more headaches than happiness, and Fiero aficionados and naysayers continue to beat each other with tire irons (figuratively speaking, I hope) to this day. The General has often proved willing to take the occasional big gamble and huge GM successes in engineering prowess (including the first overhead-valve V8 engine for the masses and the first real-world-usable true automatic transmission) and marketing brilliance (e.g., the Pontiac GTO and related John DeLorean home runs) meant that the idea of a mid-engined sporty economy car (or economical sports car) got a shot from the suits on the 14th floor. Sadly, the Fiero ended up being the marketplace victim of too many issues to get into here, and The General pulled the plug immediately after the 1988-model-year suspension redesign that made the Fiero the sports car it should have been all along. But what if the plastic Pontiac had never suffered from the misery of the gnashy, pokey Iron Duke engine and had been built from the start with a screaming supercharged V6 making way better than 200 horsepower? The final owner of today's Junkyard Gem sought to make that very Fiero, by dropping in one of the many supercharged 3.8-liter V6s installed in 1990s and 2000s GM factory hot rods. The first Fieros came out in 1983 for model year 1984, and the only engine available that year was the Iron Duke 2.5-liter four-cylinder, which generated its 92 horsepower with the full-throated song of a Soviet tractor stuck in the freezing mud of a Polish sugar-beet field. The 2M4 badging stood for "two seats, mid-engine, four cylinders," just as the numbers in the Oldsmobile 4-4-2 once represented "four carburetor barrels, four-speed manual transmission, dual exhaust." This car is a top-trim-level SE model, which listed for $9,599 (about $24,200 today). The no-frills Fiero cost just $7,999 that year, making these cars far cheaper than the only other reasonably affordable new mid-engined car Americans could buy at that time: the $13,990 Bertone (aka Fiat) X1/9. The Toyota MR2 appeared in North America as a 1985 model with a base price of $10,999 and promptly siphoned off the car-buying cash from a bunch of potential Fiero shoppers.

Junkyard Gem: 2004 Pontiac Vibe GT

The New United Motor Manufacturing plant in Fremont, California, built Toyota-derived machinery — badged as Toyotas, Chevrolets, Geos, and Pontiacs— from 1984 through 2010, and some of the very last vehicles that left the assembly line were Pontiac Vibes. The Vibe, sibling to the Toyota Matrix, mostly served as a ho-hum transportation appliance and/or fleet car, but a factory-hot-rod GT version could be purchased. Today's Junkyard Gem is one of those rare GTs, complete with the nearly unheard-of six-speed manual transmission, found in a self-service yard in northeastern Colorado. The regular Vibe had 123 or 130 horsepower, depending on the number of driven wheels, but the Vibe GT got the same 1.8-liter 2ZZ engine that went into the Celica GT-S. 180 horsepower, which was enough to make the 2,800-pound Vibe GT keep up with the 3,108-pound/215-horse Chrysler PT Cruiser Turbo that year. Sadly, no race series pitting Vibe GTs against PT Cruiser Turbos and Chevy HHR SSs on road courses ever materializedÂ… but it's not too late. The Vibe GT has something you couldn't get in a PT Cruiser or Chevy HHR, though: a six-speed manual transmission as standard equipment. In fact, the six-speed was the only transmission offered in the early Vibe GTs (an automatic became an option later on). You'll find plenty of three-pedal econoboxes from this era, because they were significantly cheaper than their slushbox-equipped counterparts, but the Vibe GT had plenty of competition from sportier-looking cars with manual transmissions in 2004. Not many were sold. This car is covered with nasty dents from golf-ball-sized hail (all too common in High Plains Colorado), so it may have been an insurance total that nobody wanted at auction. Sold in Wyoming, will be crushed in an adjacent state. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Fuel for the soul. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The kids, they were crazy about the Vibe (well, maybe not). This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Toyota had right-hand-drive Matrixes brought over to Japan from Canada, but a NUMMI-built version of the Vibe could be purchased there for a few years as well. This was the Voltz, and its advertising seems notably frantic even by the standards of Japanese car commercials.