Now here’s a find, an extremely desirable 1969 Porsche 911S—the pinnacle of performance that year—available here on eBay in Lakeville, Connecticut with a $36,000 bid that it seems would buy the car if (big if) no one bids higher. That’s got to be exciting to collectors, because Classic.com places the value of these coupes at $118,291. The open-roof Targa model is at $160,375 these days!

Back in the day, I turned down a solid, running 911S exactly like this one, with only some rocker rust, for $3,000, and a fairly rusty (but running) ’69 911S Targa for, gulp, $1,500. But that was then, at least 30 years ago. Porsche prices zoomed so high there was concern about a bubble, though the market has moderated lately. A few years ago, it was crazy. This 911S, similar to the offered car, made $165,000 at Bonhams in 2015. But you can still make money on these cars.

This one looks good from…hmmm, 100 feet. Somebody sprayed silver metallic paint right over rust. The myopic will think it’s a solid car, but it needs a major restoration, including a new front pan, floors all around, and everything for the “mostly complete” interior. The seats are filthy but maybe could be salvaged. Some switches are missing. The undercarriage is quite rusty.

The ad says, “The fuel injection system is missing”, but the two-liter 1969 911S used Weber 40 IDA carburetors to produce 170 horsepower at 6,800 rpm. These carbs replaced the earlier Solex 40s. Replacement carburetors are available, albeit a bit pricey.

The good news is that the engine (6390124) and transmission (7191256) that came with the car are with the car now, and the title is clear. Judging by the dust on everything, the Porsche doesn’t appear to have run in a long time. Given the value placed on numbers matching drivetrains and what replacement engines cost, having the original engine in the car is a huge plus.

The appeal is that these cars are very fun to drive, and highly sought after. Most of them have been snapped up and restored to Concours condition already, so projects are highly coveted. Though no one should be under the illusion that the work will be done cheaply. “If you’re looking for a 69S project this might be just what you’re looking for,” the owner says.

The assumption seems to be that the restorer will replace everything, chassis, body, etc. “The full VIN number will go to the winning bidder,” we’re told.

My guess is that this car will be snapped up by someone who will give it a sympathetic restoration back to original. Especially if the bidding stays at or near where it is now, there will be room for that kind of spending without going seriously underwater. Others may differ!