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Why This Porsche 911 is Worth 2 Million Dollars

On a warm Friday in September of 2016, thousands of the world’s financial elite gather on a grass lot at Windsor Castle. There, pillars of internal combustion mobility arrive to be judged and admired. Cars of all types from coach built pre-war drophead coupes to every manner of finely machined Italian supercars roll out onto the field. Quintessentially British guests arrive dressed in period correct outfits. Women wear their mix of chic style dresses, large brimmed hats with floral adornments, and attempt to channel their inner Audrey Hepburn charms. Men follow suit donning itchy tweed jackets in a classy manner. It’s a weave of old money, new money, and the first half of the 1900s. It’s the Concours of Elegance.

Before the cars make their way down the famous walkway path they were in garages undergoing meticulous detail and cleaning for the big show. Anoraks take apart body panels to brush every crevice with soft bristles. All of the little wire brackets, levers, and hoses are obsessively wiped down to showroom new condition. In a concours no surface of the car inside, outside, or underside may have a spec of dust. There are no compromises. It must be perfect. To the entrants, this is preserving a bit of history like they want to remember it.

And while this 1995 Porsche 911 GT2 is fit for concors it’s better to describe its worth as a reason for why people enjoy going to them in the first place. It’s the ultimate nostalgia machine. A vehicle that is firmly planted in its generation. It’s neither an homage nor a forward looking design. The 911 GT2 simply puts all the things Porsche fans love into one crazy package. And as it turns out, that infatuation can be crazy expensive.

At its base, this is a Porsche 993. Built between 1993 to 1998 it’s the last time Porsche would hand build their 911s and it’s the last of the air cooled Porsches. Purists enjoy air cooled Porsches because it’s more simple and delivers a raw driving experience. Some folks have gone so far as to write books about the 993. So even without the GT2 package a clean model today can expect a price between $50-$70k USD.

But this is far from an ordinary Porsche. The 911 GT2 is a road legal race car built for homologation. Some of the most expensive keywords in auction descriptions. Before its transformation it’s a 911 Turbo with practically everything replaced. Chassis wise they switched out the front bumper, side skirts, and rear wing for more aggressive aerodynamics. Front and rear fenders were replaced with wider plastic bolt on units and wider tires to fit. As far as supercars go this one looks pretty radical, especially with its air scoops at the base of the spoiler.

Over the rear axle is the heart of its lunacy. A 3.6-liter twin turbo air cooled flat-six engine that produced 430-444 hp and 432 lb-ft of torque. What makes the GT2 extra special is the fact that it’s rear wheel drive only. At the time the FIA found four wheel drive cars like the Nissan Skyline too fast; so they banned them. The GT2 was built to comply with the drivetrain rule. Fortunately for Porsche their weight reduction efforts combined with the loss of a driveshaft put the curb poundage down to 2,855 lbs making it around 130 lbs lighter than its Ferrari F355 Challenge rival.

Speed was no issue with a 0-60 mph time in 3.9 seconds and a quarter mile run in 12.1. On its last year of production the 911 GT2 was capable of hitting 60 mph in only 3.6 seconds, a tremendously fast time that beat out rival supercars. To match the engine the rest of the car had to be just as advanced. The 911 GT2 used a six-speed manual, independent strut front suspension, rear semi-trailing arms, ventilated disc brakes, Bilstein coilovers, and adjustable anti roll bars. The result is a largely successful racing career taking podium finishes at Sebring, Daytona, and Watkins Glen endurance challenges.

On the road you’ll find the 911 GT2 is not really meant for the road. The interior is as sparse as the Ferrari F40. As standard you get the famous single row gauge cluster and leather Recaro bucket seats but human comforts like air conditioning or a radio are optional extras. You could also buy a sport package with a harness, roll cage, and fire extinguisher if you were hardcore enough. The weight savings even flattened out the inside door so you have nowhere to rest your arms.

Then there’s way it drove. According to the lucky survivors that drove them, the GT2 earned the nickname ‘Widowmaker’ because it always tries to kill you. Like most of the air cooled Porsches they’re both hard to shift and a handful in the corners. It’s not that it doesn’t handle well, it’s just how it behaves when it happens to lose grip. You either keep it controlled or you spin out hard and end up in the grave. At least the twin turbos developed a progressive power curve.

And that’s the magic of old Porsches. On occasions like these they can out value cars like the Audi Sport Quattro, Ferrari F40, and even the Ferrari Enzo. At £1.8 million (2.2m USD) there’s proof that you can get the car as good as you remember, you just have to pay a 7-figure premium.

53 Road going models were made

All photos by Remi Dargegen and RM Sotheby's