79 miles on an 1989 Speedster

[Don Settergren]

My favorite email of the day came to me from BringATrailer.com. Article #2 of the day is an interesting, but expensive 1989 Speedster with 79 miles for sale on Craigslist for $125,000. Yep, 79 with no zeros after it! Yep, that's $125,000 with alll three zeros behind it. Check it out at:

79-Mile 1989 Porsche Speedster « BaT – The best vintage and classic cars for sale online

PORSCHE 89 SPEEDSTER 79MILES NEW.NEW

I have no affiliation with anyone involved, I just think it is kind of crazy interesting to have a Porsche with only 79 miles. Was someone thinking that Speedsters would be a really, really good investment....?

[Lil bastard]

Originally Posted by Don Settergren

... I just think it is kind of crazy interesting to have a Porsche with only 79 miles. Was someone thinking that Speedsters would be a really, really good investment....?

Exactly!

Many dealers did tout the investment potential of the Speedster when it came out in '89.

As late as 4 or 5 yrs. ago, most of the '89 Speedsters were still with their original owners and an article I read said the avg. mileage of the fleet was 11k mi.

But, the Market never responded. Then the recent downturns forced many original owners to sell them off to 2nd and 3rd owners who weren't looking for an investment vehicle, so the avg. mileage started to climb.

Most of the Speedsters I've seen for sale recently fall mainly into the 40k - 60k mi. range, with a few topping 80k. But I don't ever remember seeing one for sale with over 80k mi. on it.

If you bought that '89 with 79 miles on the clock, and mothballed it, it'd still be a generation at least before you recouped your $125k investment. Factor in Lost Opportunity cost, and you'd have actually lost money. But driving the car would certainly end it's investment potential altogether.

Cheers!