I’ve been keeping an eye on the Porsche market lately. We’ve watched as prices have skyrocketed in the past couple years, but people have been speculating for a while that the bubble is going to burst (sooner rather than later). I think certain models are seeing a price drop, but Speedsters and specialty models are still going up in value. If you don’t believe me, just have a look at this ’57 Speedster that recently sold at an RM auction for $341,000! Hagerty values a number 3 at $256k, which is probably about where this car lands condition wise. It does have some interesting history though and was parked in a Dallas, Texas garage for 40 years.
The story goes that a 26 year old Sam Fleming purchased this Porsche in 1967. Shortly after purchasing it he met the love of his life, Nely. At that time it was painted bright white, but a close friend showed him a ball point pen one day and suggested he paint the car the same bright orange color. He liked the idea so much that he kept the pen, which Nely still carries with her today, and had the car painted to match.
They used the Speedster for a few years, picking up a very desirable hardtop along the way. Eventually though, it ended up parked in their garage and slowly it accumulated dust.
Some 40 years later, it was discovered by our friend Tom Cotter. Other than the dust and age, the car remains exactly the way it was when Sam parked it all those years ago. It’s a bit sad that his family decided to let it go, but it’s better that it go to a good home than to deteriorate in the garage. Plus, Nely will always have that pen to remember Sam and the Speedster!
I truly hope this isn’t the last we hear or see of this Speedster. The new owner will have some tough decisions to make with it. Do they restore it back to factory original or leave it the way it is and make it a driver?
Personally, I like the color and the story, so I would leave it as is. Of course, you could carefully remove the orange paint to reveal the original paint underneath. That option might add the most value to the car, given the current market interest in all original survivors! So do you think Porsche prices are going to drop soon? Was this auction driven by market demand or by the current interest in barn finds and survivors?
Source: RM Auctions