No Reserve: 1978 Porsche 911 Targa

Here’s a car that was once quite attainable but has since become a bit of an item: the Porsche 911 Targa. Now, I know, we talk a lot about the rise in value for air-cooled 911s, but the Targa in particular is a bit of a shock. Like the convertible, the Targa was once quite undesirable, and was effectively the entry-level air-cooled model. That has all since changed, and I’d even wager the Targa has eclipsed the convertible model in the 911 hierarchy. The 911 Targa shown here on eBay belonged to the seller’s friend, who was apparently the long-time original owner. Bidding sits at $29,350 with a Buy-It-Now of $39,000.

There’s any number of reasons why the Targa was once unloved. First of all, there’s the perception that anything other than a coupe gives up a lot in terms of structural rigidity. A targa roof panel can sometimes leak, and can appear weathered after years of sun exposure. The “middle ground” offered by a targa model also leads to the owner making an immediate compromise: you can’t put the top all the way down, and you never have the integrity offered by a hardtop coupe. For some enthusiasts, it has to be one or the other, and I suspect this has historically been the reason why targa models have remained unpopular.

The main driver of newfound popularity surrounding the 911 Targa, in my opinion, has less to do with a sudden appreciation for the design and more to do with the relative rarity of the bodystyle. If you look at the 964-chassis 911 in particular, the extremely limited run of targa-equipped models has led to a huge surge in pricing, with clean examples regularly fetching over $100,000. The interior of this 911 is in excellent condition, largely thanks to the carpets and seats being redone due to the sun fading. If this were mine, the first thing I’d do is swap out the steering wheel for a classic 3-spoke; otherwise, I’d leave it alone.

The 3.0L flat-six makes a healthy 172 b.h.p. and 189 lb.-ft. of torque, and in general, is considered to be a robust powerplant. The engine bay is clean and presents well, and here’s my favorite part of the description: the seller notes that it has typical oil leaks. Finally, a seller of an air-cooled 911 who hasn’t simply run out and rebuilt the entire engine because of some spotting on the ground. I will never understand why so many owners spend $15,000 or more to tear down an engine that simply leaves a few drops every now and again. This is an honest air-cooled 911 with a roof design that seems to be on a hot streak, and it’s tempting to see if it can be bought for anything less than $40,000.