Ask a collector of any discipline about the vagaries of market valuation, and that person is likely to tell you that the truly unexpected windfalls are the product of oddball passion, not cagey speculation. Take, for instance, the now legendary 1958 Gibson korina-wood Flying V guitar. It was considered a failure at the time due to its space-age appearance, but models that once sold at a discount or languished in music-store back rooms have appreciated in value over the past five decades, to the point where one example traded recently for more than $1 million. It’s that same type of slow-burn nostalgia that often drives the collector-car market, elevating the value of once commonplace models such as this 1974 Porsche 914 2.0 to astonishing levels.
Gooding & Company’s pre-auction estimate of $60,000 to $80,000—about 10 times the car’s original MSRP—may seem aggressive for a vehicle that was widely available for around $5000 just a decade or so ago, but the pedigree and condition of this particular 914 2.0 are unassailable. After remaining with the original owner for more than 30 years, the car was purchased by the Brumos Collection in 2003. Although the legendary Brumos Porsche dealership was sold in 2015, this car’s association with Brumos is a distinction cherished by Porschephiles.
Remarkably, the car has accrued less than 5000 miles since new, making it among the lowest-mileage private-owner examples—if not the lowest—on the continent and possibly in the world, barring any cars still in the hands of a dealer or the manufacturer(s). Speaking of which, part of the 914’s quirky charisma is its mixed-breed heritage: Porsche needed an entry-level vehicle, and Volkswagen needed a replacement for the Karmann Ghia, so the pair entered into an agreement for Porsche to design and develop a vehicle that would use a VW Type 4 engine. That car would be sold as a Volkswagen but with the door open for Porsche to sell a version with an engine of its own specification. Ultimately the deal ended up going sour for various reasons, including the cost of the Karmann-built bodies. In the end, the car was sold as a Volkswagen-Porsche in Europe and a Porsche in the United States. It was introduced in 1969, and more than 115,000 914/4s were built by the time production ended in 1976.
Entering the country via the once thriving Volkswagen-Porsche port of entry in Toledo, Ohio, this 914 was delivered to Camp’s Cars in Midland, Michigan. Included in the sale of this Zambezi Green example is the original window sticker, which indicates an MSRP of $7135. Options include chrome bumpers ($145); front and rear anti-roll bars ($145); tinted glass ($115); 15-inch forged-alloy wheels ($360); and an appearance group ($300) with fog lamps, a leatherette-covered steering wheel, a dual-tone horn, and a console with a clock, a voltmeter, and an oil-temp gauge. It’s powered by a 95-hp mid-mounted 2.0-liter fuel-injected boxer engine mated to a five-speed manual transaxle; this configuration is considered the most desirable of the four-cylinder 914 variants.
While previous 914s offered at auction have struggled to break the $15,000 mark, a 1972 914/6—the higher-performance, six-cylinder variant—brought $70,000 in April 2016 at an Auctions America event in Fort Lauderdale, Florida. The ramifications of a pedestrian 914 2.0 bringing a higher price than its far less common six-cylinder sibling would be significant. Although this car is a true unicorn, its sale will likely have a trickle-down effect on the entire 914 market.
Of course, Gooding & Company’s estimate is just that. The actual sale price could exceed the projections, driving the value of lesser 914s upward with it. It’s also possible that, as it’s offered without reserve, this pristine example could fail to excite bidders and sell for far below the estimate. It’s this risk, after all, that makes an auction such an exciting and timely arbiter of the collector-car market. The Porsche 914 2.0 is scheduled to cross the block on March 9 at Amelia Island, Florida. We’ll be watching.
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