In the high-stakes world of Porsche restomods, depreciation is supposed to be something that happens to Cayennes, not carbon-fiber 911 Speedsters. But this Gunther Werks build just proved that even the bluest of blue-chip air-cooled exotica isn’t immune to gravity.
This particular Gunther Werks 911 Speedster—one of just 25 ever made—recently sold for $965,000. That sounds outrageous until you realize it had traded hands for $1.15 million only a few months earlier. That’s nearly $200,000 gone in under a fiscal quarter, which is about the same rate of value loss as a Bentley leaving the showroom.
Ouch.
The car left Gunther Werks’ Huntington Beach facility in October 2022, built to the firm’s obsessive standards and finished in a bespoke Gin Tree Green metallic. A year later, it landed at New York–based HK Motorcars, who apparently saw it less as a toy and more as a rolling financial instrument. That gamble didn’t quite pay off.
The dealer tossed it onto Bring a Trailer, where bidding topped out at $905,000—well shy of their reserve. Soon after, a private deal closed at $965,000, locking in a $185,000 loss for the seller. Whether that means the dealer overpaid or the new buyer scored a bargain is something the next resale will reveal. But either way, it’s a reminder that even seven-figure Porsches don’t always go up.
Fortunately, if you’re going to lose six figures on a car, it might as well be one that looks like this.
Gunther Werks doesn’t restore 911s so much as re-engineer them. Each Speedster begins as a donor 993 that’s stripped to its steel skeleton before being reborn with a full carbon-fiber body. Every panel is lighter, stiffer, and shaped with modern aerodynamic intent, even if the silhouette still screams late-’90s Stuttgart.
This one’s custom green paint is offset by matte green stripes and yellow Porsche script, a subtle nod to motorsport heritage wrapped in boutique-level craftsmanship. It’s less “classic 911” and more “what Porsche would build if it ignored accounting.”
Underneath the carbon lies a 4.0-liter air-cooled flat-six that’s about as far from stock as a Mezger can get. With Mahle pistons, forged rods, and a billet crankshaft, it produces 430 horsepower and 330 pound-feet of torque—numbers that would’ve sounded absurd in a 1990s 911 but now feel perfectly at home in a carbon-skinned Speedster.
Power goes through a six-speed manual, because of course it does, and the chassis is handled by adaptive coilovers with Brembo brakes big enough to stop a small aircraft. Six-piston calipers up front, four in the rear, and more grip than a tax audit.
Inside, the same no-expense-spared philosophy continues. Gunther Werks cabins are more private jet than vintage Porsche, blending bespoke materials with modern hardware while still preserving the basic 911 layout.
So yes, someone lost nearly $200,000 on this Speedster in record time. But the person who bought it for $965,000 may have just landed one of the most exquisite air-cooled Porsches ever built for what passes as a bargain in this rarefied world.
In the restomod market, timing is everything. And sometimes, even a million-dollar Porsche has a bad day on Wall Street.
Source: Bring a Trailer
