The most expensive Porsche ever sold fetches $14 million

Wealth


David A. Grogan | CNBC

A 1959 Ferrari 250 GT Series 1 Cabriolet, was estimated to sell between $5 million and $7 million. Pictured here on display at the 2017 Pebble Beach Concours d’Elegance on Aug. 16, 2017.

The big star of the weekend, however, was the Steve McQueen Porsche being auctioned by Gooding & Co. The 1970 Porsche 917K was used in McQueen’s famous movie “Le Mans,” which is a cult classic among wealthy collectors. While the car was used as a camera-car and was not actually driven by McQueen, it appeared in many scenes in the movie and is considered by many to be one of the ultimate McQueen collectibles.

The Porsche was expected to fetch between $13 million and $16 million, so it sold for well within its expected range. McQueen cars and collectibles carry a huge premium in the market, since wealthy collectors continue to worship the “King of Cool.”

A Porsche 911 Turbo once owned by McQueen sold for just under $2 million last year, while similar Porsches usually sell for around $100,000 to $150,000. The watch McQueen wore in “Le Mans” once sold for $800,000 and the racing suit and jacket he wore sold for just under $1 million.

“Steve McQueen is really at the top of the car mythology,” said David Gooding, president and founder of Gooding. “If you’re a car guy, this Porsche is your nirvana.”

Apparently, one wealthy buyer agreed.



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