Gooding and Company Amelia Island 2012 – Auction Report

Lot # 46 1988 Porsche 944 Turbo S; S/N WPOAA2957JN151272; Silver Rose/Burgundy plaid fabric; Estimate $50,000 - $65,000; Unrestored original, 2 condition; Hammered Sold at $75,000 plus commission of 10.00%; Final Price $82,500 -- 2.5 liter, 250bhp SOHC turbocharged inline four cylinder, 5 speed, power brakes, alloy wheels, impeccable paint and interior. Some corrosion on brake rotors from lack of use, but otherwise as new, because it is, with 719 miles. No Reserve. Drendel Family Collection. This is huge money, even after factoring in the smile inducing plaid interior and impeccable original condition. Driving it will ruin its valuable condition and preserving it will be both time consuming and expensive. The first car from the featured Drendel Family Collection of turbo Porsches, it set the stage for what was to come.

Lot # 47 1976 Porsche 935/76; S/N 930670002(R15); White, Red, Blue ‘Martini’/Black; Estimate $1,700,000 - $2,000,000; Competition car, original as-raced, 2- condition; Hammered Sold at $2,300,000 plus commission of 10.00%; Final Price $2,530,000 -- 2.9 liter, 590bhp SOHC turbocharged flat six cylinder, 4-speed, four wheel disc brakes, fully independent and adjustable suspension, massive front splitter and rear wing, large fender flares front and rear, 3-piece center lock BBS wheels, Martini and Rossi livery, stripped interior, aluminum roll cage. Heavy race-earned patina on every surface, many rock chips on leading edge of rear fenders and along entire nose. The first Porsche to wear a 930 chassis prefix and the first 935 constructed. Used to develop the 935 bodywork, engine and chassis modifications. Switched from testing to racing duties to successfully secure the 1976 Group 5 Manufacturer's Championship for Porsche with a win at the Six Hours of Watkins Glen driven by Rolf Stommelen and Manfred Schurti. At the end of the '76 season 935-001 was sold to Vasek Polak where it sat undisturbed and unrestored before passing to John Kotts and then to Matthew Drendel. Drendel Family Collection. Race histories don't come much better than this and cars that see this kind of duty rarely survive in this condition. This is real money, but 935-001 is a hallmark Porsche and blue chip investment. Its successful hammer bid was only 15% over the high estimate, by the standards of some of the other Drendel cars sold today something of a bargain in a Porsche-crazed room.

Lot # 48 1980 Porsche 924 GTP; S/N 924-003; White/Black cloth; Estimate $450,000 - $600,000; Competition restoration, 2 condition; Hammered Sold at $350,000 plus commission of 10.00%; Final Price $385,000 -- Two liter, 320hp SOHC inline four cylinder, 5-speed, four wheel disc brakes, four wheel independent and adjustable suspension, center lock wheels, aluminum roll cage, one piece race seat with six point harness, acrylic side windows, passenger side exhaust. In excellent restored condition with clean and straight bodywork and immaculate cockpit and engine compartment. Driven by Al Holbert and Derek Bell at the 1980 24 Hours of Le Mans to 13th overall. Later raced in the US by Holbert and Bruce Leven (Bayside Disposal). Restored to Le Mans configuration in the late eighties and remains the only 924 GTP with Le Mans history in private hands. No Reserve. Drendel Family Collection. While the estimate called for a much higher price, this ex-Le Mans 924 GTP is still a 924 and lacks the cache of its 911-based stable mates. This is a fair price for both buyer and seller, and unlike many of the competition Drendel Porsches on offer, it doesn't require superhuman talent to drive at its limit. Porsche owns the other two ex-Le Mans 924 GTPs leaving the field wide open for display and historic racing by the new owner.

Lot # 49 1997 Porsche 911 GT1 Evolution; S/N 993-GT1-004; White/Black; Estimate $900,000 - $1,200,000; Competition restoration, 2 condition; Hammered Sold at $1,150,000 plus commission of 10.00%; Final Price $1,265,000 -- 3.2 liter, 600bhp twin-turbocharged DOHC flat six cylinder, 6-speed, four wheel disc brakes, fully independent and adjustable suspension, carbon fiber front splitter and winglets, large rear wing, 3 piece center lock BBS wheels, Mobil 1 livery, on board air jacks. Fastidiously clean and perfect throughout. Formerly a works entry at events throughout the 1997 season including Le Mans, later raced by the Bytzek brothers in North America with consistent success. Used by Porsche for their 2009 New York Auto Show display and the recent "Family Tree" television ad. Drendel Family Collection. More than defying the laws of physics with their rear engined cars, Porsche's true specialty is finding loopholes in racing rulebooks and then driving ferocious little sports cars through them. Such is the case with this homologation special that shares just enough with its distant 997 cousin to be considered a street legal race car. Rare, fast, beautiful and possessing a great history, this GT1 is an excellent race car and investment. The new owner paid fully for the experience.

Lot # 50 1991 Porsche 944 S2 Cabriolet; S/N WPOCB2949MN440106; Red/Black leather, Black cloth top; Estimate $25,000 - $30,000; Unrestored original, 1- condition; Hammered Sold at $36,000 plus commission of 10.00%; Final Price $39,600 -- 3 liter, 211bhp DOHC inline four cylinder, 5-speed, alloy wheels, Blaupunkt AM-FM. As new with 18,689 miles, save a cracked rubber seal surrounding the trunk lock. No Reserve. Drendel Family Collection. A good car benefiting from careful maintenance while in the Drendel collection, but still a member of Porsche's under appreciated front-engined family. This is a strong price even for the low miles and careful preservation.

Lot # 51 1976 Porsche 934; S/N 9306700155; Orange/Black; Estimate $800,000 - $1,000,000; Competition restoration, 2+ condition; Hammered Sold at $810,000 plus commission of 10.00%; Final Price $891,000 -- Three liter, 530bhp SOHC turbocharged flat six cylinder, 4-speed, four wheel disc brakes, fully independent and adjustable suspension, massive riveted flares front and rear, 3-piece BBS wheels, aluminum roll cage, large rear wing. Current state of restoration is beyond perfect. Originally a customer car, this 934 gained factory support at the end of 1976 racing season when Porsche needed more cars on track to win the manufacturers championship. Again in private hands the 934 won its class at Le Mans in 1982 driven by Richard Cleare and Tony Dron, six years after it was built. Drendel Family Collection. This 934 is absolutely impeccable and most auction goers expected fierce bidding when it drove onto the block. That didn't happen. Though the sales price is within the estimate range, it took a very long time -- and the substantial efforts of the auctioneer -- to get it there. In any other group of Porsches this 934 would be a headline car and considering the sometimes breathtaking values achieved by other of the Drendel collection this result seems almost modest for a correctly restored Porsche with a long and illustrious racing history.

Lot # 52 1987 McLaren MP4/3 Formula 1; S/N MP4/3/1; White, fluorescent red/Carbon fiber; Estimate $450,000 - $600,000; Competition restoration, 2+ condition; Hammered Sold at $780,000 plus commission of 10.00%; Final Price $858,000 -- 1498cc/1,000+hp DOHC TAG-Porsche twin-turbo V6, carbon fiber monocoque and bodywork, Marlboro livery, huge front and rear wings, center lock wheels, racing slicks, carbon fiber seat, spare TAG-Porsche V6 (#50) on display stand. One of five built, three remaining and the only one in private hands. Immaculate. Raced only once, in Austria by Stefan Johansson (7th, two laps down.) Owned by McLaren until 2007 when race prepared by Lanzante Limited, tested briefly, bought by Matthew Drendel and prepared for static storage. Appears race ready and as new from every standpoint. No Reserve. Drendel Family Collection. It says something that Drendel didn't hesitate to drive his 1200+ horsepower Porsche 917-30 but used the McLaren only for display. These cars are monsters and regularly scared the F1 pilots who drove them in anger. This is a fair price for a historic car that will remain static for all but the most talented, brave or foolhardy and the estimate seems to be unduly conservative, not only for its history but also for its rarity and performance.

Lot # 53 1984 Porsche 962; S/N 962-103; White, Blue 'Lowenbrau'/Black; Estimate $1,750,000 - $2,250,000; Competition restoration, 2+ condition; Hammered Sold at $1,750,000 plus commission of 10.00%; Final Price $1,925,000 -- 3160cc/720hp SOHC turbocharged flat six cylinder, 5-speed, four wheel disc brakes, fully independent and adjustable suspension, Lowenbrau livery, 3-piece center lock BBS wheels, Goodyear racing slicks, race-win medals displayed on dashboard, I piece race seat, five-point restraints. The third customer 962 built. Without any visible flaw. Sold to Al Holbert who scored myriad wins including back-to-back Daytona 24 hour victories in '86 and '87 with it. Displayed at the Indianapolis Motor Speedway Hall of Fame and retained by the Holbert family until sold to Matthew Drendel in 2008. Drendel Family Collection. An epic car with an equally epic value, the 962's final price was within the expected range considering the rarity of the 962s in general, and the condition and history of this car in particular.

Lot # 54 1986 Porsche 944 Turbo Cup Coupe; S/N WPOZZZ95ZGN154076; Guards Red/Black cloth, vinyl; Estimate $65,000 - $85,000; Recent restoration, 2- condition; Hammered Sold at $72,000 plus commission of 10.00%; Final Price $79,200 -- 2.5 liter, 250bhp SOHC turbocharged inline four cylinder, 5-speed, Fuchs alloy wheels with polished lips and black centers, Turbo fender graphic, recessed hood pins, Michelin Pilot Sport tires, eight point roll cage, Recaro race seat, 4-point race harness. US raced in Firehawk and SCCA series. Restored to as new condition with impeccable paint, bodywork and engine compartment. Only signs of use are several rock chips across front end. No Reserve. Drendel Family Collection. A great car for track days, autocrosses, spirited open-road drives, and any Porsche show, this 944 Turbo Cup also carries the Drendel family provenance. A lot of car and history for the money.

Lot # 55 1974 Porsche 911 Carrera RSR Turbo 2.14; S/N 9114609016(R9); Silver, Red, Blue 'Martini'/Black; Estimate $1,750,000 - $2,250,000; Competition car, original as-raced, 3+ condition; Hammered Sold at $2,950,000 plus commission of 10.00%; Final Price $3,245,000 -- 2142cc/450hp turbocharged SOHC flat six cylinder, 5-speed, fully independent and adjustable suspension with titanium coil springs, front splitter, huge rear wing, large fiberglass flares front and rear, 1-piece 5-spoke center lock wheels, Martini livery, aluminum roll cage. The second of four Carrera RSR Turbo 2.14s built. Used a works race and development car with several races including 6th overall at the Osterreichring 1000km in 1974 and then sold to Dr. William Jackson in Denver. Unrestored and as raced. Fiberglass is wavy, paint is chipped, interior and engine well patinated. Raw fiberglass cooling ducts yellowed and dirty in the best possible way. Drendel Family Collection. While an incredibly significant car, the RSR Turbo's final price is huge considering other, equally potent and more successful Porsches were on offer for far less. The $700,000 premium this car commanded over the 76/935, for example, doesn't add up.

Lot # 56 1994 Porsche 968 Turbo S Clone Coupe; S/N WPOAA2961RS820772; White/Black leather; Estimate $45,000 - $55,000; Original, modified for competition or performance, 1 condition; Hammered Sold at $66,000 plus commission of 10.00%; Final Price $72,600 -- 2990cc/305hp SOHC turbocharged inline four cylinder, 6-speed, 3-piece wheels, hood pins, NACA ducts and hot air vent in hood, adjustable rear wing. As new with no visible indication the car was driven save the few miles shown on the odometer. No Reserve. Drendel Family Collection. Though this is the perfect car for spirited driving or track days, at this price it's becoming too precious to race and, as a clone, it's not collectible enough to store away for originality's sake. This was an eye-watering price for a made-up car.

Lot # 57 1973 Porsche 917/30 Can-Am Spyder; S/N 917/30-004; Blue, yellow, red/Blue; Estimate $3,250,000 - $4,000,000; Competition restoration, 1 condition; Hammered Sold at $4,000,000 plus commission of 10.00%; Final Price $4,400,000 -- RHD. 5374cc/983hp (at 1.2 bar) twin turbocharged flat 12, 4-speed,center lock wheels, front splitter, huge rear wing, racing slicks, Sunoco Porsche Audi livery, 1 of 6 built. Paint, bodywork and preparation are over-the-top perfect. No flaws or signs of use anywhere. No race history at all. Sold to the Australian Porsche importer at the end of the 1973 season and displayed in his showroom. Later reacquired by Porsche and completely restored and painted in the Penske/Donohue colors from the 1973 season and given FIA papers before being demonstrated at the Nürburgring. Subsequently re-restored in the U.S. and impeccable. Drendel Family Collection. The audience erupted into applause when this car drove like a thunderstorm into the Gooding tent. With just six built, it's rare to see a 917-30 in person and rarer still to witness its public sale. The price was no small sum, but lot 57 was a special opportunity to purchase a car of incredible stature and condition. What this price means for the raced Can-Am cars is yet to be seen.

Lot # 58 1981 Porsche 944 GTP; S/N 924-005; White 'Boss'/Black; Estimate $375,000 - $450,000; Competition restoration, 1+ condition; Hammered Sold at $280,000 plus commission of 10.00%; Final Price $308,000 -- 2478cc/410hp DOHC turbocharged inline four cylinder, 4-speed, acrylic headlamp covers, center-lock wheels, Dunlop race slicks, Boss livery, aluminum roll cage, one-piece race seat, 5-point Sabelt restraints, large on board fire suppression system, quick fill fuel door, on board air jacks, side exhaust at driver's side front fender. Perfect condition. Used as a test bed by Porsche but never raced by the factory. GTP bits used on Alan Hamilton's 924 GTR, then reunited with the tub of 924-005 in California where it was restored in the Hugo Boss livery of 924-006 that competed at the 1981 24 hours of Le Mans. No Reserve. Drendel Family Collection. Though this car displays mind boggling condition and possesses an interesting history, it was never a factory race car and its current livery is inaccurate. This is a generous price for an unraced, front-engined Porsche with no appreciable history, despite the even more generous pre-sale estimate..

Lot # 59 1985 Porsche 962; S/N 962-HR1; White, Blue 'Lowenbrau'/Black; Estimate $900,000 - $1,200,000; Competition restoration, 2+ condition; Hammered Sold at $850,000 plus commission of 10.00%; Final Price $935,000 -- 3164cc/720hp SOHC turbocharged flat six cylinder, 5-speed, Lowenbrau livery, 3-piece center lock BBS wheels, Goodyear racing slicks, race-win medals displayed on dashboard, one-piece race seat, five-point restraints. Visibly perfect with no flaws. Built by Al Holbert with Porsche's blessing for the 1985 IMSA season. Driven to IMSA Championships by Holbert in '85 and Chip Robinson in '86. 9 outright wins and 17 podiums from 1985-88. Drendel Family Collection. Visibly and performance-wise there's little to differentiate the two Lowenbrau 962s. The million dollar difference in their values has everything to do with 962-103 being built in Germany and this car, 962-HR1, being built in Holbert's race shop. It also doesn't have -003's consecutive Daytona 24 wins. They're both eligible for the same events, though, making this by far the better value in dollar/endorphin terms.

Lot # 60 1992 Porsche 968 Turbo RS; S/N WPOZZZ96ZNS820065; Red/Black; Estimate $250,000 - $325,000; Competition restoration, 2 condition; Hammered Sold at $315,000 plus commission of 10.00%; Final Price $346,500 -- 2990cc/350hp SOHC turbocharged inline four cylinder, 6-speed, 3-piece wheels, carbon fiber front splitter, acrylic passenger and rear windows, driver's side window net, quick-fill refueling door, adjustable rear wing, stripped interior, full roll cage, carbon fiber dashboard, Recaro driver's seat, 6-point restraints. Impeccably restored. 1 of 4 built. Used by the factory for testing and press duties then raced by Joest and Seikel Motorsport in numerous events including Le Mans (dnf, accident, in 1994.) No Reserve. Drendel Family Collection. Front engined Porsche just don't resonate with audiences like the rear and mid engined cars. So while this car has an interesting history, most attendees had to read its auction card to figure out what it was. A good value? Porsche built only four, but at this price there are many cars with greater appeal and far larger audiences. Only two Drendel cars followed this one, however, and the buyers may have been getting desperate. In any event, it is an expensive car.

Lot # 61 1980 Parnelli-Porsche Indy Car; S/N USACNo0031; White/Black leather; Estimate $350,000 - $550,000; Competition car, original as-raced, 2 condition; Not sold at Hammer bid of $200,000 -- 2650cc/630hp turbocharged flat six, 4-speed, center lock wheels, A-arm front suspension with pushrod-activated shocks, trailing link rear suspension, riveted aluminum tub, fiberglass bodywork, hand-painted sponsor lettering. Visually maintained in original condition, mechanically as new. Developed by Porsche and Parnelli Jones to contest the 1980 USAC series, shelved by Porsche after USAC reduced the Porsche's turbo boost -- just one month before the start of the season -- at the urging of A.J. Foyt. Restored in the 1990's by Gunnar Racing, comes with spare wheels, radiators and a disassembled spare engine. Drendel Family Collection This is an interesting car from a technical standpoint but it possesses no race history and would be difficult to prepare for road course vintage races. It's still a factory Porsche race car and therefore important, but retired Indy cars still lag far behind their Formula 1 contemporaries in terms of value. Finding more money will be challenging.