Is this Porsche 914 really worth a million dollars?

In an article last month, we discussed the astronomical prices that some Ferraris sell for. We understand that Million-dollar Ferraris, Aston Martins and Jaguars are frequent occurrences. But a million-dollar Porsche 914, the collaboration of Volkswagen and Porsche is unheard of.

When Porsche and Volkswagen got together to produce a mid-engine sports car, it was never supposed to be expensive. The car presented a win-win scenario for both manufacturers: Porsche could use VW economies of scale to manufacture it, while VW would get new ideas from the Porsche engineering brain trust. A huge figure for this car just wouldn’t make sense: With a 1.7- to 2.0-liter engine and no more than 125 horsepower under the most exceptional conditions, the 914 has long been derided by the Porsche elite as a lawnmower surrounded by a metal shell. It’s just not supposed to be worth anything—fun to drive for an hour maybe but entry-level at best.

So how did this collaborative car sell for one $1 million?

The humble 914 came onto the scene at the 1969 auto show in Frankfurt; production ran from 1970 to 1976. I must add that this isn’t any ordinary 914. It’s a race-ready 914/6 GT one of 16 built for customers in 1970 and remains the most decorated racing 914 ever run.

A yellow 1970 Porsche 914 GT/6 sold earlier this month in Scottsdale, Ariz., for $995,000. Although a similar yellow 914 sold for more than a million dollars in a private transaction last year, this was the best public auction result ever achieved for the diminutive two-seater.

As with many collector cars, ultralow-mile originals can draw ultrahigh prices. But it’s the racing history of this 914 that makes it really special. The car boasts an excellent racing pedigree, including a win in its GT class at the 24 Hours of Daytona and a fourth in class at the 12 Hours of Sebring.

According to Gooding and Company, the total selling price for the two-seat car was $995,000. The price of this car can largely be attributed to the racing history and rarity of the vehicle, only 16 of these 914/6 GT cars were ever made. Rob Sass, editor of the Porsche Club of America’s Internal Magazine explained it as “This car’s value is less about its 914-ness and more about its history, which is superb,”.