Last week, I reported on a barn find Porsche 911E which is being sold on Pistonheads and eBay. It is said to be the very first long wheelbase 911 and, as such, an interesting piece of Porsche history. It’s also a wreck in need of a full restoration.
Normally a Porsche of this type and condition would be worth very little, as a full restoration is an expensive process and, arguably, not worth doing. I’m selling a lovely 911 of a similar age that has had £60,000 spent on its restoration. Click here for details.
However, this barn find, because of it’s uniqueness, seems set to fetch rather more than you’d expect an unrestored 1969 Porsche 911 to go for. Indeed, I’d normally be reluctant to pay £5000 for a 911 in this condition, whereas this one has bids of over £35,000 on eBay and the auction still has six days to run!
Is it worth it? Well, the only way to value a car like this is to see what people are prepared to spend on it. Add the cost of a restoration and, even now, we’re looking at over £100,000 and that could well rise by the time the auction finishes.
And will the restored car be worth over £100,000? I’m not sure it will but, again, it all depends what someone is prepared to pay for it… Whatever, there’s no doubt, with a sympathetic rebuild, it will be a lovely thing to own.