The Outlaw Premium: 912 Hits $99,911, SLs Struggle
The market's appetite for bespoke, driver-focused machines was undeniable this week, with a heavily modified 1969 Porsche 912 Coupe leading the charge on BaT, fetching an impressive $99,911. This isn't a fluke; it's a clear signal that the "outlaw" phenomenon, particularly within the air-cooled Porsche ecosystem, has quantifiable value. Collectors aren't just buying heritage; they're investing in unique, performance-upgraded experiences.
Porsche's Diverse Strength
The 912's performance wasn't an isolated incident. Porsche dominated the top-tier results, demonstrating robust demand across multiple generations and conditions.
The 1969 Porsche 912 Coupe with a 3.6L 5-Speed swap at $99,911 sets a new benchmark for meticulously executed, non-original builds. This result pushes a 912 into territory typically reserved for clean 911T models, a 20-30% premium over a stock, excellent condition 912. The market is paying for the engine conversion, the five-speed gearbox, and the overall aesthetic—a testament to quality craftsmanship and the enduring appeal of the "restomod" philosophy when applied thoughtfully. This isn't just a car; it's a statement, and the market recognized its intrinsic value beyond factory spec.
Following closely, the 2012 Porsche Cayman R 6-Speed hammered for $82,500. This highly coveted, manual-transmission variant continues its ascent, confirming a consistent demand for analog driving experiences. The Cayman R, especially in 6-speed form, has seen its value appreciate steadily over the past 24 months, with Motivyn data indicating a 15% increase in average sale price for top-tier examples. This $82,500 result aligns perfectly with that upward trend, representing a solid investment for those who prioritize driver engagement over raw horsepower.
The air-cooled stability continued with two 356s. A 1960 Porsche 356B Roadster commanded $120,000, and a 1960 Porsche 356B Sunroof Coupe reached $100,000. These figures are consistent with a mature, stable market for well-maintained, driver-quality 356s. While not breaking any records, they underscore the enduring appeal and predictable valuation of early Porsche sports cars. Even a 1955 Porsche 356 Pre-A Continental Coupe Project managed to pull $41,000, proving that even in rough shape, the underlying value of rare Porsche chassis remains strong, signaling confidence in the cost of restoration.
Lamborghini Holds, Mercedes SLs Lag
Shifting gears to modern exotics, a 2017 Lamborghini Huracan LP610-4 Spyder sold for $190,000 on Cars & Bids. This is a competitive price for a 2017 model, reflecting a healthy demand for V10-powered supercars, especially convertibles. With the Aventador's V12 era concluded and the Huracan's V10 soon to follow suit, buyers are securing the last of the naturally aspirated breed, maintaining strong secondary market values. Motivyn data shows a slight tightening of the bid-ask spread for Huracans over the last quarter, suggesting sellers are finding buyers more readily at current market levels.
The Mercedes-Benz SL market, however, presented a stark contrast. The R107, R129, and R230 generations struggled to ignite significant bidding wars. A 1991 Mercedes-Benz 300SL (R129) at $20,250 and a 1997 Mercedes-Benz SL500 (R129) at $20,000 underscore a persistent valuation plateau for these comfortable cruisers. Even the limited-edition 2002 Mercedes-Benz SL500 Silver Arrow, a rare R230 variant, managed only $32,750. While a premium over standard R230s, this still represents a modest return for a car with only 1,550 units produced for the US market. The bottom of the barrel was a 1984 Mercedes-Benz 380SL (R107), which changed hands for a mere $6,750, indicative of a market segment where only pristine, low-mileage examples command interest, and anything less is priced for utility or significant deferred maintenance.
Market Signals: What to Watch
This week's results offer clear directives. The market for highly specialized, driver-centric Porsches—whether factory-tuned like the Cayman R or expertly modified like the 912 outlaw—is robust and growing. These cars deliver an emotional return that transcends mere collector status. The "outlaw" trend is not niche; it's a significant segment that rewards quality execution and performance upgrades. Sellers with such builds, backed by transparent documentation, will continue to see strong returns.
Conversely, the broad Mercedes-Benz SL market from the R107 through the R230 generations remains flat. Buyers seeking a comfortable, well-engineered convertible at an accessible price point should focus here. The delta between a driver-grade R129 at $20,000 and a pristine example at $40,000+ is significant. For sellers, aggressive pricing and meticulous presentation are non-negotiable to move these assets in a competitive landscape. Limited editions like the Silver Arrow provide a modest premium, but not enough to offset the broader market's disinterest in the segment's general offerings. Keep a close eye on the continued performance of naturally aspirated supercars as their production winds down; the Huracan's result suggests sustained demand.