Classic car in an investment class of its own

The soaring values of certain classic cars represent a far greater return on investment than property, art or pretty much anything else right now.

A 1973 Porsche Carrera 2.7 RS. Courtesy Newspress Ltd

For quite some time now I've been banging on about the soaring values of certain classic cars and how they represent a far greater return on investment than property, art or pretty much any­thing else right now.

Here are three documented facts for your delectation:

• The 10 most valuable cars sold at auction in 2014 fetched a combined total of US$141,459,568 (Dh519,453,680);

• Nine out of those 10 cars were classic Ferraris (a Ford GT40 sneaked in at number 10, fetching $7 million);

• The Porsche 911 2.7 Carrera RS has increased in value by a greater percentage than any other car in the past decade.

That's right – a classic 911 is where you should have put your spare cash. The Daily Telegraph reported last month that over the past 10 years the original 911 RS has increased in value by a staggering 669 per cent.

I can personally bear witness to this, having in a previous life been assistant editor on a UK magazine that only featured 911s. When Total 911 was launched in 2005, a mint-condition 2.7 RS might have fetched £65,000 (Dh361,240). Six years later they were going for £200,000 and now you'd be lucky to find an original one with matching engine and chassis numbers for less than £600,000.

Why, though? What is it about this classic Porsche that gets collectors hot under the collar? The reasons are few, and simple to understand.

First of all, they’re rare(ish), with only 1,580 having been built back in 1973. The RS (short for Rennsport in German, meaning “racing sport”) was developed to allow Porsche to enter the 911 into Group 4 motorsport, which required “homologation” of at least 500 roadgoing examples. The car was stripped of all but essential equipment and was treated to more power, a “ducktail” rear spoiler and some unique paint combinations – normally white with red, blue, green or black decals and wheel centres.

It isn’t just the car’s relative rarity, however, that makes it so highly prized. No, it’s the way this thing drives that makes it such a valuable asset. It perfectly encapsulates the essence of what makes classic 911s so special in the first place but with a purer, less diluted, more focused experience when behind its steering wheel.

A 2.7 RS has no need for a stereo, power steering, central locking or even rear seats. Some of them have little or no carpet. But what they all do possess is the ability to put the hugest grins on the faces of their drivers and that shouldn’t be underestimated in these times of amorphous, androgynous automobiles.

In my time I have been privileged to drive a genuine 2.7 RS, as well as other RS model 911s that have accelerated in value at almost breakneck speed over the past 10 years. And I can tell you that, while they may all share physical similarities with run-of-the-mill Porsche 911s, they’re very different to drive and own. They’re relatively simple to replicate and, indeed, there are many fakers available that would give you the exact same thrills when on road or track, but even those are getting expensive these days.

Out of reach now for all but the wealthiest collectors, the 2.7 RS remains a true example of the power of classic car investment. For the rest of us, any air-cooled 911 – which means anything up to and including the 993-generation of the mid-1990s – might represent a sensible investment opportunity if it’s original and undamaged. Certainly you’re unlikely to lose a single dirham should you choose to sell – and there aren’t many things you could say that about, are there?

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