Is a Porsche 928 a smart investment? That depends on where you start. A cheap project could be a way to get into a car that at least won’t lose money, but even then, you best buy one with the right options and from the correct era. An older 928 closer to the start of production is a harder car to keep right side up value-wise, but for just $3,500, this 1980 928 listed here on Facebook Marketplace could be worth a gamble. After all, it does run – outside of some vacuum issues – and the seller claims it has low miles. Thanks to Barn Finds reader Ted fo the find.
The 928 was intended to be a major force in Porsche’s lineup, signaling a pivot to what would become a V8-powered grand tourer. Throughout Porsche’s history, there have been concerns that the 911 was reaching its limits, and that the company couldn’t depend on its quintessential sports car for long-term success. These days, it’s the SUVs in its lineup supposedly providing the revenue that keeps the 911 alive, but in the 1980s, the board room had more than a few voices extolling the potential of a future built around the 928. It certainly had space-age looks and rapid performance to match, so why not?
Well, as we all know, the 911 is a tremendously powerful car not in terms of horsepower but rather, in influence. That shape, the sounds, the rear-engine layout – all of it makes the 911 a very hard car to ever replace (though, surely, someday it may not be here). Still, it’s no surprise the 928 couldn’t succeed in replacing it, but it also helps that the economy rebounded and concerns over fuel economy eased about the same time the 928 was hitting the showroom; regardless, both cars stayed in the lineup, but clearly the 928 hasn’t followed the same sort of value trajectory. This one, though running, will need plenty of cosmetic work, with the seats in particularly sorry shape.
The hunter green paint is attractive, but I find it doubtful that it’s original. The 928 doesn’t strike me as a gray market example, though the headlight washers were sometimes exclusive to those cars imported directly by a U.S.-based customer. The 4.5L, SOHC engine produces around 220 horsepower, certainly a strong number for the era in which it was made. The seller notes it has a high idle issue and that he’s thrown some new parts at it, including a starter, spark plugs, fuel pump, and battery, along with fresh fluids. It seems cheap enough, but is a project-grade 928 worth spending real money on to get fully sorted?
Only problem with the 928s is the price of replacement parts. Buying one this old could be a lot of money down the drain and no good results.
“There’s nothing more expensive than a cheap Porsche”-
or Ferrari,Lotus,etc.
Glue a Strosek body kit on it and flip it for double the money!
All kdding aside, aren’t there well-developed LS-swap kits for these things now? I think that’s the direction I’d take this one.
There are LS swap kits, but the 928 motor is a great motor and this one is running. LS swapped 928s have a very poor resale value, so that would be the epitome of a bad investment.
Do you think that this 928 is “investment” material? I was kinda commenting in the theme of the first two comments.
V 8 up front, rear drive, big doors, lots of glass- it was the best car Porsche ever built.
My Porsche mechanic was complaining about parts for the G50 cars being hard to find and 928 parts are becoming unattainable. The amount of money it would take to make this car desirable would never be worth it. You can buy a well-sorted 928 for <$40k.
If it was a 5-speed maybe, but little upside on this car for the money you’d have to spend.
Agree with comments on cost to restore. The cost would exceed what you could sell the finished product. 928s are great cars, but they never held their value like 911s. And, they’re more complex and parts are more expensive.
There is no such thing as a cheap 928. It’s just a question of whether you spend your money up front buying a good example or later as you try to bring your “project 928” up to par. The only people who make real money on these things are the ones who do the restorations at an hourly rate.
Inside door handles don’t work and the power window switches have also failed – how do you get out? Moonroof? Rear hatch? Ejector seat?
Part this one out…
The biggest mistake I ever made with a car was selling my 1977 911S in 1995 when I went back to college and didn’t have a garage to store it in.
I purchased it around 1993 with 5,600 original miles. The owner had other cars and obviously barely drove it. It still had the original dry rot tires and 8 track tape deck in it! LOL
That being said, before I purchased the 911 I got a copy of Dean Batchelor’s book Illustrated Porsche Buyer’s Guide Third Edition.
In that book he spells out that it’s typically not worth purchasing a Porsche to rebuild it because the parts and labor will send the finished product cost skyrocketing usually past what one would have paid for a decent example needing far less work.
I remember reading, about 12 years ago, that a lot of people steered clear of the 928 because if the rear transaxle went bad finding another would be prohibitively expensive. Sometimes as much as you paid for the whole car.
I’ve owned mine since 2006, and a regular participant at rennlist’s 928 forum, and have never heard of regular transaxle issues. 928s are solid, reliable cars. In my experience, no more expensive to service than the BMWs I used to have.
Time for a trip to the crusher. Eliminating this one will increase the value of the other 2 running examples :-)
just like the cj-8 ‘only jeep to have’, this duz the porche for me (well the 924 and 914/6 too). Neighbor has the 356A. Same price asa local house. Nope, none are me…
sold.