I know Porsche 911 prices are off the chart these days, but I’m struggling to believe this 911S barn find is really worth $125,000! Price guides are showing top shelf examples fetching $260k or more, so maybe they aren’t as far off as I thought. I get that air cooled Porsches are in demand right now, but are they really worth this kind of money? I’ll let you guys debate that topic, but let’s take a closer look at this one. It isn’t running and needs work, but it’s surprisingly solid for having been parked for 20 years. It’s located in Australia, so be sure to take shipping into account when you make an offer! Hey, if your going to spend that kind of money on a project, the least they can do is throw in shipping. You can find it here on eBay in Kingswood, Australia.

It doesn’t seem that long ago that I was looking at relatively low mileage ’70s 911s and thinking $10k was way too much to spend on a high performance Volkswagen. Don’t get me wrong, they are so much better than a Beetle, I just can’t help but think of the cheap little Bug every time I see an older 911. They really are superb cars to drive.

One of the reasons this one is so valuable is that it’s an S, which means its 2.4 liter boxer 6 is good for 190 horsepower. That doesn’t sound like a lot, but was a decent amount of power a 2,200 pound car with the engine hanging out back. It’s definitely enough power to get yourself into trouble with, but that’s the thrill of driving a rear engine sports car.

So what do you think is driving the values of these cars? Is it purely a market fad that will die off or is value being driven by rarity and how good of cars they are? I know we’ve talked a lot about the P-Car bubble before, but I’m curious to see why you guys think these have gone up so much in value recently and if you think prices will ever drop back down!