It’s always risky to make predictions about which car or truck is going to rise or drop in value. But there seems to be a very real “settling” of the older air-cooled Porsche market. A few years ago, prices were going nuts and it wasn’t just due to pandemic pricing. Enthusiasts were buying into the Porsche story in a big way, certainly helped by celebrities and high-profile buyers singing the praises of old-school P cars. Now, seeing this nicely updated 1974 911 Targa listed for $56,000 here on craigslist seems like a sign of the times.
Thanks to Barn Finds reader Curvette for the find. Now, don’t get me wrong: $56,000 is still a chunk of change for a car. The air-cooled 911 will never be a “cheap” car, but the mystique around them has carried values quite high. Jerry Seinfeld is one of the most prominent collectors of the best 911s in existence, and the prices paid have been significant. But average quality driver examples were typically more-or-less affordable, but all that changed once popularity and interest surged as more prominent collectors gobbled them up.
The thing is, these are old cars. There’s no getting around the shortcomings, from weak A/C systems to oil leaks to impossible-to-find parts. The seller notes some significant work done to this 911 to address some of the pitfalls that come with old car ownership, including an extensive mechanical rebuild that included new pistons, cylinders, clutch, fuel injectors, and transaxle synchros. The interior is quite tidy as well, with beautiful seats, carpets, and dash. Apparently, even the heated rear window still works.
The underside is quite clean as well, and it looks like someone dry-iced the bottom at some point. If the 67,000 miles is original, it’s not hard to believe that this 911 is as honest as it appears. But a few years ago, I feel that a 911 in this sort of condition would have cost $75,000 or so. In stock form, the 2.7L flat-six produced 150 b.h.p. and 175 lb.-ft. of torque, and while that number is low by modern standards, it will still be a hoot to drive with vigor and hear that classic air-cooled song. The question is, will the visceral qualities alone be enough to keep values strong?
the price seems relevant to this year, this model, and to the type of options on it. Are those vinyl seats ? If so, not as desired as the unusual cloth patterns or leather.
’74 cars are the first of the new look coming forward with big bumpers and flat edge on hoods…… every one wants the early long hood cars which ended in ’73. Further on, it is a targa which has historically always brought less money than a coupe or a cabriolet.
Lastly, the engines on these with a pesky relationship to the exhaust systems used, engine cases with pulled studs issues, and a few other nuances typical with the evolving model from ’73 to ’74, are going to affect value.
Longhoods will always be a more desired model up to and including year ’73 and the next real price point change to positive value does not really arrive until the advent of the 3.0 litre and 3.2 litre engine models.
If this is the original yellow to this car, it is a real interesting and somewhat uncommon shade seen on 911s. It was much more used and thus seen today on these model years of the 914. I like it and feel it is one of it’s strong suits
As mentioned, 74-77 are the least desirable of the early cars because of the 2.7 motor stud issues, emissions-reduced HP, and first generation of the shorter hood and big bumpers. With that said, if they rebuilt the motor, I would assume the stud issues were addressed.
Weak A/C certainly won’t be an issue, as long as the targa top isn’t stuck, because this car doesn’t have A/C at all. I don’t believe they got proper (albeit weak) integrated air until the SC version in ’78, which revised the dash additional vents. Otherwise, the only way to get air was a clunky under-dash unit that you don’t see too often. These days, you can have a fully electric system installed that will turn you to ice, but last I checked, it was near $10K installed.
Nothing weak about the factory AC in our ’76. The stud problem with the 2.7 was really a shame as they are good engines that can be pumped up to put out significant horse power. This ’74 is one of them and tops out at 148 mph. Factory AC worked great in hot Oklahoma.
Keep dropping, oh so close, just a few more zeros. What a neat car, and not sure it’s the values that are dropping, just the people that might actually want a car like this is dropping.A Porsche, ANY Porsche, used to be the drivers car for people with a lot of money. In case you haven’t noticed, these celebrities are getting on in years, and priorities are shifting, and surely what happened here. Be a sweet ride down the coast to Californy, no? Now, about those zeros,,,
Long hood Targa’s were never that high. Especially mid 70’s.
The 3.2 prices and short hood are both still climbing up as they are still in demand. Any turbo too is going up.
Add in most California cars as they are where the money is and rust is not.
This is a “short hood” 911. Long hoods were made from ‘64 to ‘73. The midyear cars (‘74-‘77) are the least valuable, and Targas are the least valuable of those. At least this one is an interesting colour.
The 911 hype is not sustainable.
– There are way too may 911s out there, of all stripes. They are not at all scarce, like 356s
– They were fun back in the day, when revving to 5000 rpm was something you didn’t do in a V8. Until you get into the Carrera class, they are woefully underpowered in 2026.
– Repairs and parts are one of those “if you have to ask” situations.
– This one is exceptional, and visually interesting, but most of them are just another 911. Pick a color. Otherwise, it’s a sea of sameness.
– And maybe the killer: Your local Porsche Club guys may not be nearly as much fun to be around as you thought they’d be.
I’m a biased, because I have one, but I tend to disagree about the hype not being sustainable. In my years of lusting after 911’s, I’ve never seen prices go down, only up. I agree that it’s insane though!
As for being totally underpowered, that’s somewhat debatable, because 180 HP with plenty of low-end torque (that’s what mine is) works better than you might expect in a 2400 lb car – and other than a Miata, just about any other modern sports car weighs at least 1000 lbs more. It must be said that whipping 2400 lb of non-traction control, non-enormo tire car around is a FAR different experience than a 4000 lb car with tons of horsepower, massive tires, and a computer presiding over the whole mess (which you probably would without artificial intervention).
Where I live in the New England area, it’s endless curvy residential roads where nobody in their right mind would go much over 50 mph anyway, so 400 HP is pointless. Here, a 911 (or a Miata, or a vintage Brit sports car, etc.) are plenty for spirited driving. Not to sound like too much of a fuddy-dud, and I like fast cars like anyone, but not sure how useful a 0-60-in-three-seconds vehicle is anywhere on a public road (and this is coming from the owner of a wheelies-in-third-gear Ducati bike that I barely use anywhere near its potential).
One sucky thing if you like 911’s is that in the early 70’s, it was a rainbow free-for-all for body colors (mine is “aubergine” purple), but when the 911SC came along in ’78, they largely did away with the funky colors, so most of the ones you find are black, white, guards red (ICK!), or some kind of s&*t brown. That was a big reason I held out for an old one. The yellow one here is pretty festive too!
Agreed about them “local Porsche club guys.” There are LOTS of ridiculously pricey weekend sports cars up where I live in Martha Stewart-land, and most of the black-baseball-hat crowd that drive these things are uptight knobs. :P
Jeff, I’m not sure if you noticed, but this is an active auction – there is a link to it in the ad. It’s tricky to see, and an unusual way to list an auction.
It is currently at $42,100, Reserve Not Met, with 3 days left to go.
So, it may go for even cheaper than the 56K Buy It Now.
It does not mention it directly in the auction, but this may be a repossessed car.
There is this statement on who they are:
“Biltmore Motors connects buyers with quality repossessed cars of every kind through a modern online auction platform — documented inventory, live bidding, and clear delivery terms from start to finish.”
This auction ended at 40K, Reserve Not Met.
I guess the 42.1K bid was rescinded or something.
celebutante – all good stuff.
I had a 1972 911 with about 120 HP as I recall. It was glorious fun at the time, but honestly, I got a lot more kicks out of my 2003 WRX (non-STi) and it was a lot more balanced (i;e. safe!) on these local WV corkscrew roads.
I totally agree that older sports cars are a blast to actually drive on real roads. I’ve had others. There is very little about these supercars that interests me. I did one of those “drive three laps” in a modern Ferrari and enjoyed it but I would not want one for the street. Six gears and you can use three of them?
Also, the culture surrounding them, from what I have observed, is something that I have no interest in and I completely fail to relate to it. It seems to me that supercar crowd has no clue that Enzo was an Alfa guy, or who Phil Hill or Junior Johnson or Don Garlits are, for that matter. They just want to own cars that are way beyond their driving capability while making a conspicuous money statement. Whatever trips your trigger, I guess.
I am not sure what the black baseball cap reference is (must be regional?), but race car owners and fans of all stripes didn’t really used to be snobs. Quite the opposite. Yeah, they had money, but race cars were owned by rowdy nut jobs who really didn’t give a rats butt about much of anything. My kinda people.
Standing around preening on a golf course over a pristine million dollar car that used to be thrashed on the track is not really the hobby, with Goodwood and SVRA as the exceptions.
Doesn’t look rusty. A proper engine overhaul costs at least $20,000; ask for the invoices.
They were more fun when they were like ten grand. I could drive it with the windows down and top off enough to blow the previous owner’s cigarette odor out! Sure miss my ‘79…and no it wasn’t one of the cool kid colors, just red. Not a player at today’s prices. Been there, done that.
@bluesman I guess if you had a stock ’72 911T, I think that would’ve been about 130 HP, but unless you found a perfectly kept original, most of them have been monkeyed with for more HP by now. Mine certainly has (via a later 3.0 SC motor swap). As for the WRX, hey, I’m sure it’s a far more sensible sports car in most rational ways, much like a Miata.
re “Six gears and you can use three of them,” you’ve just described my Ducati Sport Classic – when we do our weekend rides, I leave it in third gear almost the entire time. I only shift when we stop. In the broad picture, yeah, modern sports cars/bikes (and often pickup trucks…) are so absurdly fast and powerful that it’s hard to imagine a scenario where that’s useful on public roads. And if you are using that performance, odds are you’re just being a safety hazard and nuisance to fellow motorists.
re the actual car culture… agreed 1000%. Though I don’t want to bang up my cars and bikes, I certainly want to drive them all the time, and I wouldn’t want to own something that was too precious to drive daily.
The “black baseball hat” reference is strictly my own – just seems like every one of those megabuck cars is piloted by a fifty/sixty-something guy in a black T-shirt and black baseball hat (I also call these guys “Cameron’s dad” from Ferris Bueller). I’ve gone to some events in town, and it’s mostly those kinds of people, but to be fair, you do occasionally run across genuinely cool gear head nuts with interesting rides – the last one I went to, one guy had a Citroen SM that he adored, and another had a super rare Bitter CD coupe (ever seen one of them out in the wild?!?).
Incidentally (and not to sound like a shill here) but I enjoy Barnfinds, because though it’s not always my taste, it’s nice seeing folks that are genuinely passionate about weird cars that aren’t necessarily excessively pricey.
The comments seem to have gone off the rails here. This is a “74” 911. Not a supercar, not a car the 2026 Porsche buyers want, an old Porsche. I love yellow cars, I have had two yellow 914’s. My 911 stable is an 83 SC, also not on the radar of the Porsche snobs. The Porsche owner crowd is two different folks. The old Porsche owners who are mostly cool guys that like cars, and the rich snobs that can afford to buy the newer 911’s. Would I have a new 911 if i could afford it? Maybe, but I would still have the SC and if I ever found it the 70 911 that was my first Porsche.
Watching the Porsche haters come on the Porsche listings here is amusing but I don’t know why they spend the time. Porsche people don’t give a f*** what they think. It seems like they should stay with the Trabant (sp) listings, more their speed I think.
Not sure who you mean?
For me, I’ve owned two Porsches. Fun cars. I’d own another one, but not at these prices.
This Targa is a beauty, for sure, but there’s a lot of other classic automotive product out there at $50k that would trip my trigger a lot more than this. Like a 1953 Skylark driver.
Not a hater here. I like Porsches but I definitely don’t wanna be a part of the marque culture around it. They’re just cars to me, like all the rest.
What can I say, always been a Porsche fan, but never a owner, not in my price range …oh well.
But the early Targa is one of my favorites, I would love to own one like this, and I sure would drive the wheels off of it as much as possible