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Saturday 24 September 2016
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Used 2016 Porsche 911 R Models Selling for Over $1 Million

Used 2016 Porsche 911 R Models Selling for Over $1 Million

The sought after 2016 Porsche 911 R is already a collector car – selling for more than $1 million on the used-car market.

Porsche introduced the 911 R earlier this year at the Geneva Motor Show. New, it sold for $185,950 in the U.S., but that’s just a drop in the bucket compared to the $1.32 million people it’s going for used.

The information was revealed to Motoring Research by Tim Marlow, head of supercar finance company Magnitude Finance.

“We spoke to several Porsche specialist dealers and they confirmed the cars are commanding close to 1 million dollars,” Marlow said. “We believe this is a record level of appreciation for a new car based on a percentage of its original value.”

In April, a seller listed a 911 R on eBay with a “buy it now” price of $1.25 million. Back then the price sounded crazy, but in the current climate the price now seems like a good move.

Porsche only built 991 examples of the 911 R. The number stands for the current 911 generation’s internal code. The car is meant to harken back to the original 911 R of the 1960s by offering modern 911 buyers a powerful, no-nonsense sports car without the frills many enthusiasts would rather do without.

It’s unlikely to be enthusiasts pushing up the prices, but rather speculators who look at collector cars are pure investments.

Photo Credit: Porsche