I recently enjoyed a good discussion on insurance valuations and the state of the market with the owner of a very smart 1972 RHD Porsche 911 2.4S.
This particular Porsche 911 is quite a rare bird. Said to be one of just two RHD ’72 cars originally finished in desirable Viper Green, the car has just been through a full restoration costing more than £120,000. The body and trim was redone by a well known shop in the south east, while the engine and transmission were refurbished by RPM Technik.
It is rare to find a Porsche owner who doesn’t have a rough idea what their car is worth, and this owner was no exception. The restoration had taken over a year, putting the purchase date back in the high days, so the expectations were somewhat in tune with that. I never like to disappoint on value, so I did quite a bit of work to try and get to the owner’s preferred number, but we still ended up meeting somewhere south of the initial proposal.
While demand across the classic Porsche market has softened since the high points of 2015 and early 2016, buyers are still looking for good opportunities to invest in rare RHD examples with warranted low mileage and an attractive original spec. A 1972 RHD Porsche 911 S definitely meets that criteria, but few are keen to pay 2016 prices in a much softer market.
UK dealers are currently offering a range of 71-73 911S models with prices ranging from £130-£250k. My opinion kicks off somewhere in the middle of that range for lived in but well presented RHD examples. £200k is a lot of money to spend on an early car without an RS badge and there are some good opportunities elsewhere from an investment point of view.
A 911 S in RHD in just-restored condition is a handsome machine that would turn my head every day of the week. There are always going to be people (mostly those who rely on early 911 sales to make a living) who would argue that selling prices for these cars are still in the mid £200k-bracket, but whether the market would really stand over £200k to buy a car like this right now is debatable. That said, it’s the ballpark I would advise on the nicest examples for insurance purposes.