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The classic Porsche 911 has been found to be the most valuable historic vehicle on the market with the models bringing in over £900 million to the UK economy.

Research from the Historic Endurance Rallying Organisation and Endurance Rallying Association (HERO-ERA) calculates that the 23,029 models add up to an estimated valuation of £911 million. The Porsche 911 was miles out in front in the list, with the Jaguar E-Type claiming second place with an estimated worth of £371 million from 4,120 models.

The report suggests that the average Porsche 911 is valued at around £39,000 – a figure derived from using data from a number of sources such as AutoTrader and eBay. However, as a classic car insurance provider, we know that valuations can differ significantly depending on the model, year and condition.

As much as anything else, the findings are a testament to the Porsche 911’s reliability. In fact, they are considered one of the most reliable cars ever made. According to Porsche themselves, three quarters of all the 911s built over the years are still roadworthy. Pretty impressive, right?

However, now that we’ve said that, we’re expecting Porsche 911 owners to flood our inbox with stories of the problems they’ve had with their vehicle. After all, it’s not always smooth sailing when you’re a classic car owner, but that’s all part of the fun!

If you’ve ever had an issue with your Porsche 911 – or any classic car for that matter – you’ll know how important it is to have adequate classic car insurance. So, don’t forget to invest in the right cover if you manage to get your hands on a vintage motor.

Lancaster Insurance are specialists in arranging classic car insurance, as well as protection for vintage 4x4s and other classic vehicles.

For the time being, though, let’s just concentrate on the Porsche 911. Here’s all you need to know about this iconic car…

The 911 has made Porsche what it is today

Porsche was founded by Dr Ferdinand Porsche in 1931 but did not build any cars under his own name. It wasn’t until 1948 that the first Porsche was produced, the 356, by Ferdinand’s son, Ferdinand ‘Ferry’ Porsche. By 1958, Porsche had built 10,000 356s, which now included the 100bhp Carrera model.

In 1963, Porsche introduced the first generation of the legendary car for which the company will forever be remembered: the Porsche 911. These early model 911s produced 128bhp from their 2.0-litre, air-cooled ‘boxer’ engines. Today’s base model Porsche 911 (the 991) creates 350bhp from a 3.4-litre Flat 6. The most powerful current 911, the Porsche 991 GT3, is a striking lightweight model with a 475bhp twin-turbocharged 3.8-litre engine.

While the Porsche 911 has evolved over five decades and eight different generations, with over one million being built since 1964, no true petrol head would overlook Porsche’s many other modern successes. These include the Porsche Cayman and Porsche Boxster roadsters, the Panamera as well as the Cayenne and Macan crossovers.

Not only has Porsche been incredibly successful as a manufacturer, it also holds some enviable records on the track. As the most successful and largest race car manufacturer in motorsport, Porsche cars have chalked up more than 28,000 victories to date.

 

It nearly had a different name altogether

In September 1963, Porsche unveiled the Porsche 911 at the IAA in Frankfurt, Germany as the heir to the Porsche 356. However, it wasn’t called the 911 then – it was known as the 901. Porsche got as far as series production of the 901 but upon presenting the vehicle at the Paris Motor Show in October 1964, it would be forced into a name change.

The challenge on the 901 name came from French car manufacturer Peugeot who patented a three-digit type designation with a zero in the middle. Porsche listened to Peugeot’s objections and simply changed one digit, turning the 901 into the 911. The combination of numbers reflected the USA’s emergency code, which was to be a key market for Porsche. Thankfully for the manufacturer, only 82 units of the 901 were produced before the name had to be changed.

 

The 911 was nearly killed off by the 928

The Porsche 911 has established itself as a legend in classic car circles, but it was nearly killed off in the 1970s.

The 911 wasn’t exactly a dream to manufacture – it was designed to be largely built by hand which didn’t come easy or cheap. With the huge advancements in technology in the 1970s, Porsche wanted to tap into the automation trend, but this wasn’t possible with the 911, the building of which could only be partially automated. Not to mention, the 911, whilst being great to look at and drive, was cramped, quirky and losing sales.

So, Porsche began developing the 928 as the 911’s successor. The 928 had a lot going for it, too. It was easier to manufacture, maintain, drive, and much better suited to everyday use than the 911. Combining modern levels of luxury, refinement and technology – with performance to match – it was released in 1978 to nearly universal acclaim and named “Car of the Year” by the European press.

However, although it sold well enough, with some 60,000 built, the 928 never scaled the heights of the 911, and the rest is history, as they say.

 

The most expensive 911 in the world sold for more than $5 million

When an incredibly rare 1998 Porsche 911 GT1 Strassenversion went up for auction in 2017, the sale price was expected to be high. But when the hammer finally came down, it surpassed most people’s expectations.

On sale at the Amelia Island auction, the vehicle sold for a record-breaking $5,665,000. Designed to compete with the likes of the Ferrari F40 and the McLaren F1 in the FIA GT1 class at the Le Mans 24 Hours race, the Porsche 911 GT1 Strassenversion was a success on the track.

But, even more excitingly, 20 examples of the Porsche 911 GT1 Strassenversion were built for the road. Built with a 3.2-litre Flat 6-cylinder engine boosted with twin-turbochargers, the road-racer was capable of accelerating from 0-62mph in just 3.9 seconds and had a top speed of a heart-thumping 191mph.

Upon initial release, it cost $912,000 to own one of these – well beyond the reach of the man in the street.

 

There are now 25 versions of the 911 available for sale

You’d be forgiven for struggling to keep up with just how many variations of the Porsche 911 are on the market today. Porsche is well aware just how important the 911 is to its success and is currently building 25 different versions of it from its main factory in Zuffenhausen, a district in Stuttgart, Germany.

From the base spec 911 Carrera to the top-of-the-range 911 Speedster, Porsche has ensured it has got all tastes covered. As with other cars from Porsche, dropping an ‘S’ onto the end of the name denotes a more powerful version, while a 4 denotes four-wheel drive.

You can also get the 911 as a cabriolet or a Targa. In addition, you have the Carrera GTS (Gran Turismo Sport), the Carrera T, the Turbo, the GT2 RS, the GT3 and the GT3 RS.

If you’re a little lost by the sheer number of versions, you’re not alone. Jeremy Clarkson once said “the Porsche 911 range is one of the world's great unfathomables". In fact, he’s well known for his dislike of the 911 but it still has many fans around the world, including ex-England captain David Beckham.

The Porsche 911 continues to enjoy critical acclaim

The Porsche 911 has always been a big hit with the motoring fraternity – that holds true even with the latest iteration of this legendary car.

Now 56 years and eight full model generations old, the Porsche 911 continues to raise its game somehow. It’s in review of the 2021 911, Autocar says: “The new 992 is better balanced and usefully more agile than its predecessor, with a second-generation turbocharged powertrain of explosive straight-line potential and class-leading efficiency.”

It also remarks on the car’s interior which it calls “a masterclass of ergonomics” – no doubt a significant upgrade from the cramped 1963 first-generation 911.

So, how does Porsche manage to improve upon the 911 time and time again? Autocar suggests it’s down the following principles: “Manage your icon carefully and preserve what’s unique and distinctive about it, while updating what’s old and flawed; listen to what people love about it; and keep it relevant, modern and competitive without making it any less special.”

However, a basic spec new Porsche 911 will set you back about £90,000. It’s much cheaper to go and find an older model in good condition – you may also pay less in classic car insurance premiums. Did you know that classic car insurance is generally cheaper than standard car insurance? This is due to the mileage being lower than that of a standard car and because the vehicle is much more likely to be treasured and looked after by its owners. Given that there are still so many Porsche 911 models around today, it’s a theory that seems to hold water. 

 

The Porsche Club Great Britain is even older than the 911

Porsche Club Great Britain (aka PCGB) was founded in the early 1960s by a small group of like-minded enthusiasts to celebrate the Porsche 35. The 365 was the only Porsche production model at that time, with Ferdinand Alexander Porsche yet to come up with the design for the 911 (or 901 as it was at the time).

However, it wasn’t until the launch of the 911 in 1964 that PCGB really took off. Throughout the 1970s and 80s, the club’s membership increased exponentially, forcing it to acquire office accommodation and a small team of administrative staff to manage the growth.

PCGB has gone from strength to strength since and has become a very significant and loyal group of Porsche enthusiasts and brand advocates.

 

Is a Porsche 911 a good investment?

If you’ve read this and now wondering whether to take the plunge and invest in a classic Porsche 911 of your own, there are plenty of reasons to do so:

• They are renowned for their reliability which will help keep the maintenance costs down.
• They are practical as far as sports cars are concerned, so you won’t just have to save it for track days.
• There’s a strong owners’ club that you can tap into for advice and friendship.
• Handling is one of the 911’s strong points, bringing masses of grip, which will help you keep it on the road even in wet conditions and avoid having to claim on your classic car insurance.
• Quite simply, they are a whole lot of fun to drive!

 

Protect your investment with classic car insurance

Classic Porsche models still command an army of fans today and at Lancaster Insurance, we can offer you classic car insurance for your Porsche, with a selection of added benefits.

Did you know that Lancaster Insurance is the broker of choice for owners of 96,000 classic and retro vehicles in the UK?

Like you, the team at Lancaster is passionate about classic motors and we want to help preserve them for the future.

Benefits of classic car insurance through us can include salvage retention, cover for static shows and historic rallies and limited mileage discounts.

We also have some great relationships with many of the UK’s classic car clubs, offering up to 25% discount on insurance to club members.

We love welcoming new owners into the classic car community and sharing the knowledge we’ve accumulated over the last three decades. Why not come and chat to us at the next Classic Motor Show at the NEC?

If you’re wondering how much your Porsche or other classic car is worth, we can also arrange a two-year agreed valuation.

Get a quote for classic car insurance today.

Policy benefits, features and discounts offered may very between insurance schemes or cover selected and are subject to underwriting criteria. Information contained within this article is accurate at the time of publishing but may be subject to change.