$375,000 For A 964 Turbo? Is The Air-Cooled Hype Getting Out Of Hand?

The 964 Turbo 3.6: When Nostalgia Meets Market Hysteria

I’ve always had a mixed relationship with the 964. It’s a great car, don’t get me wrong, but it often gets overshadowed by its more iconic air-cooled counterparts, the infamous 930 Turbo and its more refined successor the 993 Turbo. The 964 Turbo was Porsche’s attempt to bring more refinement and reliability to the air-cooled world without straying too far from the "rough around the edges" charm that Porsche lovers appreciate.

The 964 Turbo’s biggest strength is its turbocharged 3.6-litre flat-six engine, rated at 355 horsepower and 384 lb-ft of torque. That’s a pretty healthy number for its day, though it does pale in comparison to today’s 911 Turbos. Still, it was a big step up from the earlier 3.3-liter 930 engines, and it offered a more usable driving experience with a less demanding power delivery. The 964 Turbo was part of the era where Porsche started to add real technology, including better braking systems and the infamous wider body that became iconic in the 964 range.

However, all that was just the beginning. Let’s look at the specifics of the car that fetched $375,000.

The 964 Turbo Market and Price Trends

It seems the 964 Turbo market is experiencing a curious boom. Prices for these cars, once considered “entry-level” in the Porsche collector market, have soared in the past few years. For example, in 2019, a well-maintained 964 Turbo would have fetched somewhere between $100,000 to $150,000. Fast forward to today, and you’ve got six-figure bids creeping into the $300,000+ range, as evidenced by this recent sale. According to classic.com, the average price for a 964 Turbo 3.6 sold over the past five years is $340,317.

This $375,000 hammer price is not an anomaly. In fact, it’s the new normal for high-quality, low-mileage 964 Turbos and don’t mistake this as a ‘peak’ for the model these cars are likely to appreciate even further. The lack of availability, combined with a growing nostalgia for the air-cooled era, means that prices are simply outpacing what would be considered rational.

It also doesn’t help that Porsche enthusiasts and collectors have a tendency to overhype these cars in a manner that borders on the absurd. You’ll often see terms like “iconic” and “timeless” thrown around, but I would argue that those words are only justified when we discuss the 930, a.k.a the Widowmaker or the 993. The 964’s technological advancements and body styling were a huge step forward, but I believe they weren’t the breakthrough moments that defined Porsche’s legacy. And yet, the prices continue to climb driven by a market that’s perhaps more influenced by the aesthetic of Porsche’s history than the reality of it.

So, Is This Car Worth $375,000?

Don’t get me wrong, this particular 964 Turbo is a fine car, but it’s also a product of its time, a time that wasn’t all that special in the grand scheme of things and personally, I simply can’t get behind this sort of pricing. Perhaps the only aspect that justify this sky-high price is the rarity factor compared to the 930 Turbo which was a handful to drive and the 993 Turbo. which I feel looks a lot nice which I know is purely subjective.

What really surprised me is that this one, despite not being highly original owing to the mods and having 30k+ miles was able to bring in big money. I suppose It’s a reflection of a market that’s becoming increasingly obsessed with nostalgia, and in some cases, it’s getting carried away with itself. Anyway, the 964 Turbo 3.6’s I suppose are still reasonable compared to the even rarer Flachbau or Slantnose variants, we’re talking nearly seven figures here.

In the end, if you’re in the market for a 964 Turbo, I hope you’ve got deep pockets and if you bought this one for $375,000, congratulations just be sure to drive it. Because, as they say, these cars were made to be driven, not just sold for absurd amounts of money.