'Project Gold' Porsche becomes most expensive 993 Turbo ever

Porsche's first factory restomod has sold for over $3 million at RM Sotheby’s Porsche 70th Anniversary auction, making it the most expensive 993 Turbo ever

Recreation or continuation cars are highly fashionable these days. Aston Martin has resurrected the DB4 GT and James Bond’s iconic DB5, while Jaguar engineered new lightweight E-Types and D-Types.

These cars give their new owners a unique opportunity possess a slice of history that is brand-spanking-new. Porsche’s ‘Project Gold’ 993 Turbo is the German marques first official effort at such a project, the fruits of its labour has just sold for $3.1 million (£2.4m, €2.7m) at auction, making it the most expensive 993 Turbo ever.

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RM Sotheby's highly anticipated Porsche 70th Anniversary sale took place last weekend, with with many legendary Porsche models of the past hitting the block. However, it was Porsche’s Project Gold that garnered the most attention.

Within just 10 minutes the ‘new’ 003 Porsche 911 Turbo had received 37 bids with the hammer falling at over $3m — enough to make it one of the most valuable Porsches ever sold at auction. The previous record for a 993-generation 911 Turbo was $1.53m (£1.19m, €1.34m) , also sold by RM Sotheby's at its Paris auction in 2017.

This 993 Turbo was built from new genuine Porsche parts and used an unregistered body shell as its base. It took over 18 months and over 6,500 period-correct Porsche Classic parts to build this time-warp car. It possesses a new – but identical to original specification – twin-turbo 3.6-litre flat-six engine producing 444bhp, with power sent to all four wheels via a six-speed manual transmission.

There are a few non-standard elements to this 911, including the shoulder-mounted intakes that were an option on the 993 Turbo. Something that wasn’t an option back in the 1990s was Project Gold’s Golden Yellow Metallic paint, which mimics the Porsche 911 Turbo S Exclusive Series of today.

It’s a totally authentic machine but, because this Porsche is considered a newly produced car and '90s technology isn’t enough to pass modern safety tests, Project Gold isn’t road legal. That said, we doubt that such a thing will stop the new owner enjoying their one of a kind 911.

These ‘reborn’ models often split opinions, but the authenticity and attention to detail makes this 911 something truly remarkable. Better yet, the millions raised in the process of selling this car will be going to the non-profit Ferry Porsche Foundation.

It would appear that Porsche’s first in-house new-old car has gone down very well indeed, could there be more to come? We’ve got our fingers crossed for a 959.

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