Cars are typically not considered investments, because more often than not, they steadily decrease in value. It’s why you can find a Civic for $5,000. Classic cars, however, eventually appreciate depending on what they are. Certain Porsches are known for holding value, and it doesn’t look like they’re going anywhere anytime soon. Old 911s still go for tens of thousands of dollars, even 911 Turbos cost more than a new car. The 1993 911 Carrera RS was selling for $42,000 in 2006. Today it’s appreciated by 3,046-percent, less than 20 years after it first hit the road, which brings it to $1,350,000. What makes this Porsche so special?
A brief history of the 1993 911 Carrera RS
RS models first came out in the 1950s and took a couple of sabbaticals between the late 1970s and early 1990s. It came back in 1991, attached to the Carrera RS, RS America, and RS 3.8. These were homologated sports cars for Grand Tour racing. They were lightweight at 2,690 pounds, and in America, they were powered by a 244-hp 3.6-liter flat-six. The light curb weight was achieved with an aluminum trunk lid and deleted sound deadening material. Power steering was also removed. What drives the price of them today, however, could be the 3.8 variant. The fact that they’re air-cooled doesn’t hurt either.
Porsche 911 Carrera RS’ special engines
The 3.8 was special because of exclusivity. Only 90 were built with the 296-hp 3.8-liter. This rare version could be what drove the price up for the 911 RS. However, Germany built another kind which was rarer still. The 968 Turbo RS got 332 horsepower in one iteration, and 345 in another. Only four of these were ever made. These cars are rare enough to warrant their immense worth.
What other cars have appreciated?
There’s one other car that’s appreciated even more than the Carrera, according to Netcredit. The Siata 200CS is a coupe with a 1.4-liter inline-four, producing 72 horsepower, built from 1952-1958. Worth $20,000 in 2006, it’s now worth $680,000. In other words, the Siata 200CS has appreciated 3,300-percent. Trailing behind the Siata and the Carrera is another Porsche, a 356 Gmund, one of the original 356 cars. It sold for $83,000 in 2006 and is now worth $2.5 million. The Ferrari 250 GTO takes the cake, originally selling for $18,000 MSRP, it sold at auction in 2018 for $48.4 million.
Why do classic cars appreciate?
Primarily, classic cars appreciate because they are rare. Production numbers were much smaller back in the 1960s, so there are simply fewer of them. That rarity stretches to the different trims they had, engines, and certain exterior and interior parts. If there’s a chance to grab a classic car for a minimal amount of money, it may be a good idea to hop on it immediately, as it could eventually earn money.