Classic Cars

Porsche's Project Gold 911 Turbo sells at auction for $3.4 million

Profits from the sale of the built-from-scratch 933 went to charity.

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It took only 10 minutes for this car to sell at auction.

Porsche

Earlier this year, Porsche got its fans all excited by launching Project Gold, a "new" 993-era 911 Turbo that had been built from scratch over the prior year and a half. In other words, another 993 built two decades after that generation of the sports car officially ended production. Now we know just how much Porschephiles loved the car, as Project Gold sold over the weekend at an RM Sotheby's auction for an impressive $3.415 million.

Porsche said in a press release issued Sunday that the car sold in just 10 minutes after a total of 31 bids. However, Porsche isn't keeping all that money for itself. The automaker said that any proceeds on top of the "hypothetical original retail value and actual auction expenses" for Project Gold will be donated to Ferry Porsche Foundation, a German charity. That figure is 2.6 million euros, equivalent to about $2.96 million.

Part of the value, of course, comes from the fact that Project Gold is a literal one-of-one project, with Porsche giving it the series number "001/001." But the rest of the appeal comes from the fact that the continuation 993 is a seriously lustworthy vehicle for any car enthusiast. Intended to show off the prowess of Porsche Classic and Porsche Exclusive Manufaktr in restoring and rebuilding classic models, Project Gold was built from the ground up in Germany.

Porsche took a classic 993 Turbo body shell, fitting in a new interior with a huge amount of gold and carbon-fiber trim. Porsche also installed a new 3.6-liter twin-turbo flat-six engine good for 450 horsepower. Parts for the car's attendant all-wheel-drive system and six-speed manual transmission also came from Porsche Classic.

Project Gold is not road-legal -- like so many other "continuation" cars, the old-car-built-today doesn't have a Vehicle Identification Number and likely can't be used on the street. That said, Porsche says that it put the car through all its usual tests for roadworthiness and performance, including on its Weissach test track, and promises Project Gold "passed with flying colors." Here's hoping the car's new owner finds a venue in which they can enjoy the car's performance, too.