Buyers Guide: Porsche 928
“It was the best of times, it was the worst of time …” That sentiment couldn’t have been more real for Porsche during the 70s.
In 1977, the launch of the Porsche 928 came during a time of economic crisis with the fallout from the oil embargo earlier that decade. The company was still young, and its strength was building sports and racing cars. Under new leadership, coupled with a new marketing department, Porsche wanted to produce a Gran Turismo supercar. Summoning young engineers from the new Weissach R&D center, Porsche chose a clean-sheet design with a fresh approach, and it carved out a timeless design in the Porsche 928.
The marketing department prepared for the biggest launch in the company’s history. Twelve pre-production prototypes were rushed to completion for overnight shipment to Nice, France. Over the next two weeks in late February, press and media agents from around the world trounced the new 928 through the French Alps. They were impressed, and wrote enthusiastically about it in upcoming magazines.
The public’s first look was at the 1977 Geneva Auto Salon, where it was very well received. There wasn’t anything like it at the show. The following year, the 928 was awarded European Car of the Year.
Porsche couldn’t have asked for a better reception. The next two years of production saw the largest annual sales in the marque’s 18-year lifespan. More than 60,000 were produced worldwide between 1978-1995.
The strength of the ‘77-‘79 early cars is in their uniqueness and purity. They were spoilerless, often sans sunroof, and a majority were fitted with manual transmissions. They were relatively lightweight and punchy with the then-new CIS fuel injection system. The phone dial wheels and Pasha interior set them apart with modernism, now considered retro charm. Cars remain very affordable, with good examples hovering around $7,000 and perfect cars trading below $17,000.
The next sweet spot lies with the mid-marque cars. The ‘84-‘86 16V Eurospec with 310 hp and “hoppy” cams deliver a real punch. They are rev happy and still tossable. The ‘85-‘86 32V is a torque monster that was conservatively factory detuned. Enthusiasts are finding untapped power that really wakes these cars up. They are a great balance between a more modern 5.0-liter motor, yet still possess the original body style.Like the earlier cars, prices remain low. Plan on spending from $8,000 for a solid 32V car to $21,000 for a near-perfect one.
The 928 grew into a real modern contender with the 5-speed only GT series of ‘89-‘91. The 89 GT is notable for its rarity, with only 65 built. The GT is a real bruiser, with well-spec’d cams and shorter final drive. Additionally, the later, more aerodynamic body style gives it a modern sweeping look. Enthusiasts tend to gravitate to these cars more than the earlier models, and prices reflect that. Concours-quality cars run about $31,000, while good models trade around $13,500.
The 928 swan song was the GTS of ‘93-‘95, the final production series. 5.4 Litres, 345 hp and 369 ft/lbs torque make this a true supercar.
Their rarity makes them coveted among collectors and enthusiasts. 406 U.S.-destined GTSs were produced during those three years (no U.S.-destined GTSs were produced in ‘92). Even rarer of the group are the 5-speed manual variants. Expect to pay between $30,000 and $50,000 for a GTS depending on how flawless you want it to be.
The 928 was engineered from the beginning to deliver serious performance and serious speeds at great lengths of time in comfort. The quality of the design is enduring, and Porsche made it that way with longevity in mind.
From the timeless shape to the simple Teutonic interior, there is something special within each series to appeal to a broad range of drivers and collectors.
There couldn’t be a better time to buy and own a Porsche 928. The performance vs. value delta is amazing, and prices are still favorable. Don’t expect this to last. Stock of salvageable originals is depleting due to attrition, similar to 356s back in the day. Original early cars are getting particularly rare.
Two general rules of thumb when buying: 1. Buy the best one you can afford. 2. Anticipate twice the cost of purchase going in to allow enough to get a car that meets your standards.
Remember these are highly engineered cars and were made to last a long time. As such, parts prices are indicative of their level of quality. They are 15-35 years old and often require a very systematic approach to keeping them reliable. Prepare to replace age-related items, such as fuel hoses and intake rubber. Look closely at cleaning ground points, fuses and relays. If there is no record of a timing belt service, expect to perform that service upon purchase. With up-to-date service, one can expect years of reliable duty from the 928.
The good news is that there’s plenty of vendor support. You may find a fair and faithful boutique vendor base, supplying good used parts, new and hard-to-find parts, and complete interior restorations. New parts alternatives are now available, as well. There’s a new water pump with an uprated bushing and plastic impeller, and a self-tensioning timing belt system that eliminates the need for follow-up re-tension.
The enthusiast community surrounding these cars is a gracious and technical group, many of whom are DIY mechanics. Much support and information is available via Internet forums or by visiting a regional 928 event. If you are handy with a wrench, and get the “German way,” you will enjoy working on them. Best of all, the Porsche 928 loves to be driven, and it will reward you for it.
Jim Doerr is the owner of 928 Classics, which specializes in early Porsche 928 restoration. His business is dedicated to the preservation and elevation of early 928s. Having been into 928s for more than a decade, Jim was drawn to the earliest of classic 928s when he found the then-oldest pre-production 928 ever built. Following that was the acquisition of the first pre-production 928 produced worldwide. Number One, as it is referred to, remains his goal for an ultimate 928 restoration of the highest quality.