OK, what am I missing here?
 

http://forums.pelicanparts.com/porsche-cars-sale/862598-1989-944-turbo-s.html

$14.5k, and folks here were saying that it should be going in the twenties for a car like this?

My guess is too many modifications and the perception that the car has been beat on at the track.

I agree the modifications are decreasing the value. I also think a broken odometer does not instill confidence.

1989 (K) is a desirable 944 turbo -year.

It has all the Turbo S -goodies, without the wacky exterior/interior color (silber rosa)

[ ] forged wheels
[ ] 26/8 KKK turbo
[ ] bigger brakes
[?] LSD locking differential
[?] M030 suspension / ride height /stiffness adjustable koni's, stiffer sway bars

This has got first three (3/5) items incorrect, from photos can not verify remaining two (2/5). In battle many cars have lost the front height adjustable struts.

Other valuable options are:
- Sports seats in leather - these are the best seats ever made by Porsche, nothing comes even close, add $2000 dollars
- non-sunroof, add $____ dollars

Rollbar usually implies cut interior, and also often welded re-inforcements where bars attach to.

Nevertheless, it is a nice 944 turbo S, with many items easy to replace. It is good value for money.