Porsche’s Project Gold 993 Turbo Sells In 10 Minutes, Fetches $3 Million

Porsche Classic fired a shot across the bows of restomodders like Singer when it revealed its Project Gold, a brilliantly updated 993 Turbo with an old-school air-cooled engine. Now that one-off project has been auctioned off, and it sold for a heck of a lot more than expected.

After 37 bids were placed over the course of just 10 minutes, the Project Gold 911 sold for a massive €2.7 million – or about $3.08 million at current exchange rates.

That’d be enough to buy 10 new 911 GT2 RSs, or nearly twenty new 911 Turbos. The good thing is that the proceeds will go directly to the Ferry Porsche Foundation, which supports educational, research, sport, culture, and social initiatives in the Stuttgart and Leipzig areas where the automaker runs its main factories.

For all their generosity, the new owner will take home a spectacularly restored 993 Turbo of the kind Porsche last manufactured in 1998. The project took a year and a half to complete and encompasses over 52,000 new parts, including a 3.6-liter twin-turbo boxer six upgraded to 450 horsepower (335 kW, or 42 hp/31 kW more than the original) and 431 lb-ft (585 Nm) of torque (up by 33 lb-ft/45 Nm). The engine features larger turbos, an additional oil cooler, Motronic engine control unit and ceramic port liners. The whole thing was resprayed in Golden Yellow Metallic with a Cathodic Dip Coating primer.

Project Gold was just one of the lots offered as part of RM Sotheby’s Porsche 70th Anniversary Auction at the Porsche Experience Center in Atlanta. Though the auction house had yet to publish the full results as we went to press, it was surely among highest prices paid for any of the 51 vehicles that were on offer – save, perhaps, for the 959 Paris-Dakar rally machine that was estimated to sell for $3-3.4 million – especially since a 956 Group C prototype apparently didn’t meet its reserve price.

more photos...
  • ErnieB

    Oh my!

  • Six_Tymes

    awesome

  • Six Thousand Times

    Well, I’ll be damned.

  • Timo

    It wasn’t restored or repainted. It is a completely new car, build with with “brand new” spare parts, even the body was a left over spare part.

  • SteersUright

    Amazing car. Insane price. It must be nice to be filthy rich in 2018.

  • TheBelltower

    Nice color choices. Someone seriously overspent though.

    • Well pretty much one-off so I guess the price is not surprising.

      • TheBelltower

        True.

    • nastinupe

      Not really… it’s all about the market. I’m sure that he will get more than this when he decides to sell it. It’s a 1 of 1 Porsche. How many of those even exist? They rarely do one of one’s.

      • TheBelltower

        They’re smart to have only built one. That’s the only possible way to justify the price to a potential buyer.

  • But what about the rest of the cars? I’ve seen some trends that indicate a lot of no sale in recent auctions.

  • Bash

    Neat..

  • Bo Hanan

    Love the idea, hate the color.

  • ksegg

    This is amazinggggg.

  • nastinupe

    So was this a restomod or a brand new car?

    • Salih Ahzem

      Brand new with new, bespoke VIN etc… There was an article here in CS stating this 993 would not be road legal in the U.S., as is technically a MY2018 vehicle not confirming latest safety mandates.

2021 Mercedes C-Class Interior To Feature Dual-Screen Layout

The 2021 Mercedes C-Class’ interior clearly takes after that of the upcoming 2020 S-Class.

Citroen C3 Range To Receive Significant Updates In The UK

Citroen’s best-selling model in the UK, the C3, will cost upwards of £15,860 starting this October.

Nissan’s 50th Anniversary Edition Leads The 2020 GT-R Pack Down Under

Nissan is asking for AUD $209,300 for the new GT-R 50th Anniversary Edition in Australia.

Lamborghini Valuation Hits $11 Billion Thanks To Strong Urus Sales

Lamborghini could become a viable initial public offering candidate for the VW Group.

FCA And Renault Merger Talks Could Be Back On The Table

The FCA and Renault merger reportedly hinges on Nissan’s backing.

BMW M8 Gran Coupe To Launch At November’s L.A. Auto Show

BMW’s M8 family will be completed with the unveiling of the Gran Coupe in a little over two months.

Lnyk&Co 03 Cyan Shatters ‘Ring Records For FWD And 4-Door Cars – Or Does It?

The 03 Concept lapped the ‘Ring faster than Jag’s XE SV Project 8 and Renault’s Megane RS Trophy-R.

Fiat Will Not Build A Successor To The 124 Spider – And That’s Sad

Fiat believes that the MX-5-based roadster isn’t important in its future and will focus on small cars instead.

F1 Starts Wind Tunnel Testing Of 2021-Spec Aero Pack

The final touches are being made to the overhauled 2021 F1 season regulations that aim to ultimately make overtaking easier.

If Only BMW Made A Street-Legal, V8-Powered i8 Like This Racer

It looks like an i8, but apart from that, it has absolutely nothing in common with BMW’s hybrid sports car.