Image: Gooding & Co

During Gooding & Company’s collector car auction at Amelia Island this week, this particularly low-mile Zambezi Green 1974 Porsche 914 2.0-liter sold for a massive $93,000 hammer price. This is an unfathomable price for such a car. A well-kept 914 is an incredible car, perhaps still one of the most underrated cars of its time, but there is no universe in which it provides $93,000 of enjoyment. This inflated Porsche value madness has to end!

Yes, this is perhaps the nicest example of a 914 still in original condition. This car features just under 5000 miles on the odometer, and has been kept, until recently, in excellent condition by the Brumos collection in Florida. This car is equipped with all the right options, including rarities like front and rear sway bars, tinted glass, and the much-desired appearance package. Being a 1974 model, however, means it has the big impact bumper add-ons, which are just a bummer to look at.

There are a ton of reasons why a four-cylinder 914 should never sell for nearly a hundred grand. 914s are great cars, I’ve driven a few dozen examples, and they’re always a joy, but there are so many cars that provide a much better driving experience for less. Not to mention that there are cars that are far more rare for less cash, as Porsche and Volkswagen teamed to build over 113,000 examples of the 914-4 from 1970 to 1976. Meanwhile, only about 3300 models were built with a six-cylinder engine, so go ahead and spend crazy money on those, they’re worth it.

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The car was expected to sell for between $60,000 and $80,000, but the final bid soared even past the high estimate. This surprised many in the community, and will surely have traditionally frugal 914 owners thinking their heaps are worth their own weight in gold. One of the last truly affordable aircooled Porsches is about to get out of control, mark my words. This is how speculation bubbles are wrought.