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'We're not a hedge fund': Porsche plans to curtail speculators and flippers

A sizable number of speculators view cars as an investment. Rare or unusual models are quickly snapped up and either parked for years or flipped for a profit. Cars from automakers like Porsche and Ferrari are more prone than others, and at least some people behind these models are getting a bit tired of it. While it's difficult to police what goes on after you sell a car, Porsche has some plans that might curtail the problem before it starts. Andreas Preuninger, the head of GT road-car development and the man behind the new 911 GT3, spoke to Car and Driver at a recent event. "I personally like to see my cars being used," he said. "That's what we build them for. They are just too good to be left to stand and collect dust." One recent example of this rampant speculation is the 911 R. While the special manual-only model sold for $185,950 when new, used versions were selling for nearly $1.3 million just months after it went on sale. While the car is a masterpiece and an instant classic, a good number will be parked and simply used as art and not the rolling testaments to the man/machine interface they were intended to be. The concern over valuations has become so fierce that some owners are upset that Porsche is offering the new 911 GT3 with a manual transmission, fearing that it may hurt the value of the 911 R. "When I said we're not a hedge fund, I'm talking to those people who are yelling at us for offering the manual transmission similar to the R," Preuninger said. "But if there are people wanting to buy cars like that, then as a company we should try to fulfill that, to meet that demand." It seems Porsche is keeping a close eye on who is flipping cars. Since there is often far more demand than supply with certain models, the German automaker has a name for every car before it's built. Buyers with bad reputations might not even make the wait list. Related Video:

Want to buy a worst-in-show-winning Faux Ferrari Fiero?

UPDATE: This heap sold for $5,001. But don't fret, there are more terrible cars out there for the taking if that's your thing. Today we bring you something truly terrible. It's not just a fake Ferrari built on the guts of an old Pontiac Fiero, it's actually the world's worst fake Ferrari built on the guts of an old Pontiac Fiero. And it's got the award from the Concours d'Lemons to prove it. It's so heinous, in fact, that it has somehow managed to become desirable, at least judging by the bidding history of this bright red affront to Maranello. Powered by a 140-horsepower 2.8-liter V6 engine (covered by an unconvincing and broken fake V12 cover) hooked to an automatic gearbox, this gloriously poor Prancing Horse won't be winning many stoplight drag races. There are bundles of stray wires hanging down from the dashboard, it has high mileage, most of its lights don't work, and it's ugly. Like, really ugly. And to top it off, this Fauxrarri can't currently be registered in its home state of California because it has failed its most recent smog test. Put simply, you're looking at a total piece of junk. But a piece of junk with internet notoriety, having been featured on an episode of Jay Leno's Garage after attending the 2019 Quail Motorsports Gathering — by mistake at first, and then earning a special place next to the porta potties — being the focus of a video series on YouTube and winning the aforementioned ribbon for Worst in Show at Lemons. Somehow, bidding has topped $4,000 at the time of this writing. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. If you want to earn the ire of your neighbors — and to be clear, we really wouldn't recommend it — click on over to Cars & Bids to view the auction. There are four days left to hit the "bid" button. Consider yourself warned. Related Video:

This KITT replica sold at auction for $32,500

UPDATE: This 1987 Pontiac Firebird Trans Am KITT replica officially sold for $32,500. Here's hoping the new owner has a blast throwin' it into Pursuit Mode. Let's get one thing straight right off the bat: This isn't a perfect KITT replica. The original KITT used in the Knight Rider TV series was based on a 1982 Pontiac Firebird Trans Am. The one you see above, which is currently for sale at auction site Bring A Trailer, is a 1987 model, and since it's a GTA edition, it has some extra body cladding that the smooth-sided television car lacked. That aside, most casual observers would probably never notice the difference, and even those who did (like us) are still likely to be impressed by the car's transformation. This KITT replica is powered by a 5.0-liter V8 engine mated to a four-speed automatic transmission. It ought to be fairly quick, though quite a bit shy of the fictional car's very fictional 300-mph top speed. We're not exactly Knight Rider experts, but some quick Google sleuthing suggests that the Knight Industries Two Thousand supposedly cost more than $11,000,000 to build in Hollywoodland. This one will surely command a significantly lower sum — as of this writing, it's been bid up to $18,000 with four days remaining on the auction. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. For those truly fanatical about accuracy, here's a video of one of the originals visiting Jay Leno's Garage for reference. There are several videos of the car that detail its modifications inside and out, but suffice it to say it seems to be a well-sorted replica. Here's hoping its new owner keeps it well clear of other KARRs. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.