Archive for month: April, 2022

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South of Boston (SoBo) Porsches and Coffee, 24 April 2022

photo: Larry Levin
photo: Larry Levin
photo: Larry Levin

 

Our first of this season’s Porsches and Coffee was held in the parking lot of the Newport Car Museum located in Portsmouth RI.  It was a breezy morning in the chilly 40s.  I had a difficult time working my fingers writing down info about the cars and drivers. Considering the weather, we had a good turn-out, about 60 Porsches.

Early on, the car that attracted my eye was Brett Sroczinski”s 83 930.  Newly painted by Carl’s Collison of Fall River, the color is a stunning Audi Quantum Grey.  All the rubber was replaced (correctly), including doors, and the rear red plastic bar was treated then painted the same color with PORSCHE lettering in flat black.  Brett laughed when I asked, “was the paint job more than 5k?” It cost 4 times that, but I deemed the level of detail to be worth it.  He also had extensive work on the engine provided by Jerry Pellegrino. Brett purchased the car in 2007 with about 90 k.  Previously he owned an 86 944 Turbo.  Brett enjoys driving this Porsche hard.

Steven Howitt, a frequent SoBo participant, came in with his 84 928 S, which he purchased three years ago. With just 53k miles, he is just the third owner of this automatic, Gemini Metallic Gray gem. It has a limited slip differential, 8 speaker stereo, option side molding and factory optioned rims. This car is a highway cruiser and was popular in it’s day, especially in Texas.

Another 928 that caught my eye was Rich Doucette’s 84 928 S, also with an auto transmission.   Purchased last year in Atlanta, the car originally spent much of the time in Arizona and had just 69k miles. Rich is currently restoring much of the mechanicals, such as completing brakes, tires, air condition, cruise control, fuel pump, and gas tank. Being an Arizona car, the paint is all original; I saw no corrosion around any windows. Because of the slope of the rear window, it is often a problem for these models that are driven in New England weather.

Before the chill shut me down I saw what seemed to be a 944 with a different look. It was Michel Grossman’s 87 944. He purchased it about four years ago with 138k.  The previous owner was having another child and had to sell it.  The 944 had been modified for street/track, lowered two inches, larger rear tires and with a 924 Turbo front lid (louvers) for additional air flow. Also, the rear window was from a 968. Mike said that the car runs great and the only thing he had to do was replace the battery.  He has owned numerous sport cars; he drove a Porsche (I think a 912) in high school.

The next SoBo is scheduled for 22 May (10-Noon) at Sweet Berry Farm, 915 Mitchell’s Ln, Middletown, RI. The event as always is FREE, and no pre-registration is necessary. The only requirement to park on the grass is your Porsche. A Porsche logo sign should be in place directing you to the parking area.  Sweet Berry Farm is child friendly, encouraging small children to enjoy a working farm, so when entering and exiting, drive carefully. And, as always, for any SoBo related questions, please email me at:  [email protected]

Rog Slocum
127 Center Ave.
Middletown, RI 02842
e-mail:  [email protected]

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NER Autocross School: Sat. May, 7

The NER Autocross Team will be holding its popular Autocross School at Devens this year on Saturday, May 7th. The format will be similar to previous years with driving exercises held in the morning, followed by lunch (Pizza supplied by NER), with actual timed runs on a full autocross course in the afternoon.

We are taking a new approach to the Autocross School this year to maximize student driving time and engagement between students and the instructors.  The three morning exercises will include a slalom, a figure-eight, and offset clamshells with one instructor assigned to a pair of students for all three exercises to provide increased instruction and feedback on the students’ driving.  The afternoon will consist of 4 – 5 student runs on a full autocross course with the option of letting your instructor drive to demonstrate the proper line through the course.  While attendance at the school is not requisite for attending events during the season, it is highly recommended. Regardless of whether you intend to autocross or not, this is a fabulous introduction to the art of driving at a fraction of the price of most schools of its kind. Teenage drivers are encouraged to attend. Licensed teens (full license, not a permit) under the age of 18 must provide a signed waiver and have at least one parent present throughout the course of the event.  For more information, please contact the registrar.

You must be a novice to attend this school.  Please don’t sign up expecting a Test n’ Tune.

Autocross allows you to learn car control skills in a safe environment. We are fortunate to enjoy probably one of the best venues in the area (Moore Airfield at Fort Devens). The wide runways and ample open space allow participants to get close to or exceed the performance limits of their cars without risking damage to cars or participants – so you can see what your Porsche feels like when pushed like it was meant to be. The driving skills you’ll learn here are not just useful for autocross events, but also for DE events on the track as well as driving on the street. Plus it’s also a social event – you’ll have the opportunity to meet a friendly group of men and women who enjoy socializing with each other while having fun with their cars, and working on driving skills together. We hope you’ll come out and give it a try! In the meantime, check out our excellent instructional videos on our website at www.porschenet.com produced by Autocross Team member Richard Viard. They will give you some good ideas on what to expect, how to prepare, etc.  

 

Registration

You must register for this event in advance. Registration is currently open online at www.pcaner.motorsportreg.com. We are limited to 48 students so register now to insure a spot.

 Price: $60 (includes a free registration to one NER Autocross Event in 2020)

 Eligibility: This event is for novice autocrossers only! Participants must have participated in no more than four autocross events in the past two years to be eligible.  As always, special circumstances may apply, so contact Chris Ryan at [email protected] with questions.

 Instructors: You must register for the event on motorsportreg as an instructor (you will not be charged) Please be on site at 7:00 AM.

Students: should plan to arrive after 8:00 AM but no later than 8:30.

 

For event and eligibility questions contact NER Autocross Chair Chris Ryan at [email protected] . For registration/payment issues contact  NER Autocross Registrar Jeff Johnson at [email protected] .

 

Directions:  The event will be at Moore Airfield on Route 2A which is separate from the main Army base. The Google maps address is 90 Fitchburg Rd. Ayer MA.     From Rte128 or I-495: Take Route 2 West. Take Exit 38B (Route 111 North) for 2 miles. At the rotary, take Route 2A West toward Ayer. Stay on 2A as it turns right in downtown Ayer.  Follow Route 2A bearing left at the fork by Tiny’s Restaurant. Continue past the Shop & Save market on your left – the entrance gate will be on your left just after the railroad tracks with a sign reading “State Police Driver Training”. Enter through the main gate, look for the “Autocross” sign and bear left up the hill to get to the airfield. At the top of the hill there will be someone to check you in, and greet you with instructions. 

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Newcomers Meeting – Member Recap

Although it has been a few weeks since Porsche Norwell hosted a fun and informative gathering for PCA members on a sunny Sunday morning, I can’t help but think about how nice it was to get together again at an in-person event and hear about all of the opportunities the region has to offer its members in 2022.

The morning started off with snacks, coffee, and juice while everyone was arriving. Those that arrived before the formal presentation began had an opportunity to check out a few new cars in the showroom, catch a glimpse of the F1 race that was playing on the TV, and watch/listen to the many Porsches pulling into the lot and onto the adjacent side street. A stunning 2022 GT3 is etched into my memory after staring at it for far too long.
 
Once everyone arrived and got situated, the formal meeting got underway as we learned about the many exciting things happening in 2022. The presenters offered insights into their areas of focus within the club: Social Events, Communication, Driver Education, Autocross, Spring Ramble, the Gala, Porsches and Coffee, Concours D’Elegance, SIM racing, etc. One lucky attendee walked away with a pair of tickets to the Audrain Automobile Museum, and there was a SIM racing rig available in the lobby for attendees to experience first hand.
 
After the PCA presenters wrapped up we had a chance to hear from Andrew Dunn, General Sales Manager of Porsche Norwell. He filled us in on updates to a few Porsche models and talked about the various supply chain issues and how those are affecting overall production numbers and price increases across the various model platforms. He also introduced the service manager and highlighted an air-cooled 911 project that was recently completed at the dealership, which was on display for attendees to see: a 1983 911SC Targa painted slate gray with a red interior. It looked fantastic!
 
One common theme that kept getting repeated – “it’s on the website”.
 
If you want to see what events are available to participate in, or volunteer at, rest assured they are listed on the website.
 
I definitely left the meeting feeling inspired to get to more events in 2022 than I have in years past. Hopefully you will too.
 
Mark McCormack
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A Little Noise

My loyal supporters will recall that I have lost a few readers upon discussing my position on noise, specifically engine noise. To set the stage for this latest discussion, let me remind everyone how this started, and then a decision can be made as to whether or not reading any further will be time well spent.

My first motor vehicle was a Lambretta motor scooter with a 125 cc two-cycle engine. Think, Putt, Putt, Putt. The year purchased, it had been used at Sebring as a communication link between corner stations at the track that we still race on. Since it burned a mixture of gas and oil (one Coke Bottle full of oil for every tank of gas) and had a muffler bigger than the gas tank, it was very quiet. The perfect vehicle for delivering the Orlando Sentinel early in the morning.  Not so perfect trying to be part of the biker crowd in rural Kissimmee, FL. In short order, I had two short pieces of plumbers pipe welded into the side of the muffler and plugged them with a screw-in metal cap. The first cutout on the street. Once the paper route was done and everyone was awake, the plugs came out, and the little scooter spoke with some authority. Not a lot, but some.

Next up was a ’58 VW beetle with a stock muffler. The second day I had it, another VW owner showed me how to take off the two chrome exhaust pipes, remove the fiberglass (probably asbestos) packing inside the pipe and make the 36hp engine sound like it had a lot more muscle. Like maybe 40hp. This was before any kind of nonstock exhaust was available. Extractor exhausts were still ten years away from the speed shops on the left coast. A couple of years into beetle ownership, the weld broke on the #4 exhaust pipe, and the one after the clamp had been loosened on the #3 pipe, the muffler could be pulled out just a little and it sounded like another ten hp appeared. Of course, it didn’t, but it sounded better

A  Porsche 356 was the next car I owned, and it came to me with an Abarth exhaust with four small chrome pipes coming out from under the rear bumper. That was perfect; no modification needed, nice deep exhaust tone, and very long-lasting.

 The 356 was getting expensive to service, and I needed a reliable ride for the last two years of college, so a Volvo 544 was the replacement. It had two mufflers, actually, one resonator in the center sitting longways and one muffler in the rear sitting crossways. Once the rear piece was removed and a straight pipe installed, it wasn’t that much louder, but it had a terrific growl to it when it was downshifted to a lower gear to slow down, just like a ’49 Flathead Ford coming down a grade in second gear.

There were lots of others. Once extractor exhausts were available, I had them on 356’s, 914’s, and even early 911s. Audis, like that old Volvo, always had more mufflers than I thought they needed, so more straight pipes were used. A  later Volvo 142 even got its system shortened to a side exhaust that dumped out in front of the rear wheel. On the driver’s side, of course.  Are we starting to see a pattern here?

There is only one car sitting in the garage with a stock exhaust system, and that is a Macan that I don’t drive and am not allowed to fool with.

 The Speedster has a Sebring exhaust                

                                      

 The Puddle Jumper has an original Abarth muffler                                                

 The 72 911 has an Extractor Exhaust

The ’85 BMW has a stainless steel exhaust that Rick’s Custom built for me years ago that makes great noises, and Pearl, the Audi RS4, also benefited from Ricks’s handiwork before he retired with the installation of an electric cutout that can be opened at the touch of a button.  Even without the cutout, it is short a resonator that says it’s not your Grandfather’s Audi.

As the years rolled along, even the Porsche Factory got into the act. The current Big Dog in the garage (2015 991 Turbo S) has a system that changes tone with the touch of a switch, and it’s not quieter. The C4S that my son, Rob, loaned me for a while to inspire the Turbo S purchase has a Factory loud button as an option. Looking at the system, it is an electric cutout that redirects the exhaust to bypass two of the three mufflers. We both agreed that was a good start, but we have replaced the rear muffler on both cars to provide a little more character.

 Once the Turbo S and the C4S were tested at the track, and both passed the noise limit, that prompted me to take a look at what was on the books in the US that limited the noise on streetcars.

Of the 50 states, only 12 have an ordinance with an actual sound level number written into the regulations. It does make me wonder if Law Enforcement has a dB meter in each police car to actually measure the sound level in those states where an actual sound level applies. The states are :

CA – 95db                                   
CT- 82db                                       
HI-86db                          
MI-95db                       
MT-95db                         
NY-82db                                 
OH-82db                                      
OR-92db                                       
RI-82db                           
WA-78db                          
DC-90db  

These are actually some pretty big numbers when you consider that the race noise limit at Lime Rock Park is 86db, and those are some loud cars. Of the New  England states, only RI has a measured limit, while others like MA and NH say things like “every motor vehicle shall be provided with a muffler or other suitable device to prevent unnecessary noise.”  I’m not sure what necessary noise really is, but it certainly doesn’t come with electric cars, which is probably why I can’t see owning one. NH has a rather strange rule that states “no person shall operate a motor vehicle with a straight pipe exhaust system,” whatever that is. Maybe that was written back in the ’50s when “Lakes pipes” were popular out west or more recently to address Corvette side pipes.  I did see a set of straight pipes on a Porsche when John Ames fashioned an exhaust system using a set of copper pipes on his Speedster when we were at Univ of MD back in the ’60s. As I recall, they didn’t last long as the brazed joints couldn’t take the exhaust heat. I’ll never forget the look of four pipes sticking out the back of that Tub flying up University Blvd on the way to class. Funny that snapshots of life never seem to go away.

 I really like the VT statute that only states: “A motor vehicle, operated on any highway shall be in good mechanical condition and shall be properly equipped.” MA law is as general as any as it uses the: “prevent unnecessary noise” line. It also goes on to say that motor vehicles need a bell or horn for signaling and a lock, key, or another device to prevent unauthorized use. That sounds like it could’ve been written back when quill pens were in use.

 There are 18 states that prohibit the use of “cutouts,” but only four states say that cars cannot have them mounted in the car. Those would be CA, NY, ME, and IL. Since MA is one of the states that only says that you can’t use it, I guess Pearl is in the clear as long as I don’t hit the switch. In case you are wondering if there are any states that really don’t care, there is one. That would be Alaska, where there are no state laws that address exhaust noise; they are regulated locally.

The research I did above prompted me to look at noise limits at some of the racetracks that I have run on in the past.

The track in NH where NASCAR runs, NHIS, really doesn’t have a noise limit. That seems reasonable as it is still out in the woods, and the deer don’t care. Civilization hasn’t gotten close enough to complain yet, but I’m sure that will happen. Another track with no noise restrictions is Watkins Glen. High above the town of Watkins Glen, I suppose that the residents are just glad to have folks stop by to spend a few bucks. There are a couple of sanctioning groups that do impose a limit, but those numbers are in the 102-105 range. Think jet plane takeoff volume as you’re standing on the runway.

Sebring is another race track without any concerns about noise. Another reason why I really like the world’s longest autocross track.

Speaking about autocrosses, we do have a sound limit when we run at Ft Devens. It is a little strange as it is set as a number over the ambient noise level. The rule says cars on the course cannot make more than 10db over the noise level when there is no noise. Of course, there is never “no noise.” I have a dB meter app on my phone (of course, doesn’t everyone?), and sitting in my office writing it tells me that the sound level is about 55db, and it’s quiet in here. That is about what it reads out on the runway at Ft Devens unless the wind is blowing, and then it can easily bounce up to 75-80db. Add a car out on the main road, and the meter will show 80-85. Take the reading far enough away from the course when a car goes past, and it adds less than 10db. It’s safe to say that a 90db limit is about right there. I don’t know that we have ever asked anyone to leave the event because their car was too loud.

 So, I conclude that noise is good. Even the stickers on the rear of a couple of my cars back that up, “Loud Pipes Save Lives.”

                 KTF

 

 

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The DE Crier says “Get Pumped!”

In my new (and evolving) role as DE Crier I received an email from Adam asking me to pen something that would get people excited for the upcoming DE season.  OK, fair enough.  There are a few ways we can go with this.  “Cooped up all winter, pandemic blues, blah, blah, blah but now the robin chirps, the tires squeal, etc.” would be one way. Or “Porsches are meant to be driven on the track, finally see what your car can do.”  But I’m going to take a more concrete approach and take you through the season, track by track, so you’ll have a sense of what is on tap.  Warning!  (Go ahead and wince, Adam.) This will be one man’s opinion and not every word will be positive. But before we get into that don’t forget about the DE Ground School at Palmer on April 24th. This is a class room introduction to DE pitched to those who have never done one (and includes the ability to do slow laps on the track). Even if you don’t think you want to do a DE why not go (and maybe have your mind changed)? Palmer is a cool place, see your other Porsche buddies, go for a nice ride in a rural part of the state.

All right, back to the task at hand.

The first event is NCR’s two day at Lime Rock. Paul Newman loved Lime Rock and I am a big fan – of Paul, but not Lime Rock. It’s a rare combination in that it is great for beginners and also very technical for the experienced.  But it’s short and there is only one left turn where I have managed to spin twice (which probably signals that I am a beginner so why don’t I like it more?). Also the downhill should be taken flat on the floor in my car but that hasn’t seemed to happen yet – so maybe I’m just a whiner. It is historic, in a very pretty part of CT, has good facilities and is a bucket list track. Stay in Great Barrington which is a cool town with nice restaurants.

Next up is Thompson which is also historic – the oval dates to 1940 and was one of the first paved tracks in the country.  The road course has gone through a number of versions.  Like Lime Rock it is pretty short at 1.6 miles but is much slower (60 seconds is a good lap at LRP, 80 seconds at Thompson) and has more turns. The haters call it a glorified autocross (hey! I was the AX chair for 6 or 7 seasons buster) but it has some nice subtleties and the facilities are excellent. Newer Porsches will see 130 on the straight, quit complaining. And, if you live in metro Boston, it is really close.

After that is the first of the two Palmer events (second one is in September). We run one event clockwise and the other counter clockwise (Anker says “anti-clockwise”). I prefer CCW but that’s just because I’ve done a million laps in that direction. This is a challenging track with elevation changes, off-camber turns and lots of opportunity to go wrong. But don’t because it is also the least forgiving of an “off.”  Facilities are good and getting better.  NER has a great relationship with Palmer and there will be good socials when the track goes cold.  An easy drive from Boston but no close hotels. At the Ware Diner they give you a choice of how you want your bacon cooked.

Back on our schedule after a multi-year break is Mont-Tremblant (use your French and call it LCMT).  This is another historic circuit that you have to get to at least once (it was called St. Jovite when F1 ran here). It is a very nice course with some interesting turns and a loooong straight, good runoff as well. I assume our event will be timed to coincide with the Blues Festival at the ski village which is fun. The geography is a little confusing:  at the north is Mont-Tremblant resort (the ski village), in the middle is the village of Mont-Tremblant (where the track is) and in the south is what was the village of St. Jovite – but now all are called Mont-Tremblant. I’m not fond of the ski village (too Disney-esque, drinks from an automated machine, but the kids will like it and the hotels are more modern) – better restaurants in St. Jovite. Consider camping at the track – a nice lake to swim in.  Pain in the neck to get to with the border crossing and maybe horrible traffic in Montreal (Adam thinks the bridge construction may be completed but I’d still brush up on my French swear vocabulary).

Also back on our schedule is Calabogie which is scheduled so that you do Mont-Tremblant then have a travel day to Calabogie – enjoy your week in Canada! Calabogie, like a martini, is an acquired taste (I really like martinis!). It is long and has many corners that look the same but (obviously) aren’t – after three days I was still struggling. And there is nothing to do nearby. But the hard core folks love it and there will be special programming to help advanced drivers improve (heavy training on interpreting data). I’ll be looking for a volunteer to help me write that one up from afar.

In July is the first of two NCR events at Tamworth.  Great track, gorgeous views – it’s too easy to screw up because you are admiring Mt. Chocorua off in the distance when you need to be hitting an apex. The facilities are not yet first class – no garages and not enough paved parking – but the quality of the track more than makes up for it.  The nearby hotels are weak – better ones a half hour away in North Conway – but have breakfast at Rosie’s and you’ll start your day off right.

Ah, Watkins Glen. What can I say?  The best, just go.  And take the husband – he’ll like the wineries, the Glen, the Corning Glass Museum.

The season ends with NCR’s New Hampshire Motor Speedway event in October (yes, it might be a little nippy). Before we had Palmer and Thompson we did tons of events at NHMS and everyone complained, instructors wouldn’t sign up. Yes, there are a couple of bumps that are hard on full-on track cars and, yes, it is pretty short.  But it’s a fun track, very safe for newbies and it is a hoot being in this huge sports complex where the NASCAR boys go to play (climb up in the stands between run sessions for a sense of it). Along with Thompson, Palmer and WGI it has garages. And there are lots of good lodging and eating choices nearby (have at least one meal at the Makris).

So there you have it:  29 days at 8 different tracks spread out over the season. If you have never done a track day then you need to, damn it!  And if you are a regular then welcome the newcomers into your fun club. One final enticement:  there are socials when the track goes cold and (thanks to the successful ministrations of Pam Mascetta and Judi Mansing) even the most snobby beer geeks will find something to their liking. See you there!

-Bill Seymour

 

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Vol 3: “The One That Got Away”

It’s 1970,  I’ve just graduated and started my new job at a Boston Consultant Engineering Firm.   I have an apartment off Comm Ave in Brighton,  so every day I’m commuting into the office on Stuart Street on the green line.    It’s a nice late summer day and I get off the Trolly a little early to stop at the Star Market for groceries and walk up Comm ave.   There’s a small single bay shop along the way that usually has a car in the window.   This time, as I go by,  there is an interesting looking  red sports car filling the window.   It looks somewhat familiar and by now I’m more than a little curious.    I think I know what it is but it’s hard to be sure through the somewhat dingy window.    But unfortunately,  the shop is closed for the day.

A few Saturdays later,  I walk by the shop again and this time it’s open.  I walk in and talk to the guy who is there and discover that the car is for sale.    Fantastic —  tell me more.   It’s a well used street version of a mid-engined race car.  6 years old and it has 30 something thousand miles on it and it needs an expensive full engine out service.    But they will sell it as–is for the, at the time,  rather staggering sum of $ 10,000.  Which as I recall,  was more than a year’s salary at my new job.   OK,  he probably just threw out a ridiculous price so I’d go away.   In 1970,  a 6 year old  well used Ferrari was still just another near the end of it’s practical life Italian money pit, it had been sitting for months waiting for parts that may or may not ever arrive.   But he was serious.   It was, after all,  as you may have guessed by now, a 6 year old well used Ferrari showing some wear and tear.   It was not perfect,  it had a few bumps and scrapes,  and , of course, it still needed that service.   The Market for old Ferrari’s was just not that good.   

  It was completely impractical to even imagine using it as a street car,  but I wanted that car,  I just couldn’t figure a way to buy it and hold on to it.   After a few weeks it was gone from the window.    I did finally buy a somewhat more practical Mid-engine car from a dealer on Comm Ave that was more in my price range a few months later.     A new off the showroom floor 914-6 from Commonwealth Porsche Audi. (Ted) Sold the 914-6 ,  which by that time had 120,000 miles and a 2.2S engine, for a  2.4 S sunroof Coupe  ( which was sold for a down payment on a House )   —    and the 2.4 S  is now worth  several  times what I paid for that 1st House. 

– Ted Shaw

” (As the header image) is a photo of that used up street car ( now serviced and restored )  that I never was able to find a way to acquire.   The 914-6 appreciated in price as well   —   Just not as much. One just like it ,  or maybe it was the same 250 LM  –  they only made 32 —  changed hands 5 years ago in Monterey for  $ 17 ½ Million. It’s anyone’s guess  how much more it’s worth today”

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Vol. 2: “The One That Got Away”

The company that I was working for was about to go public in the summer of 1995. I had a 1973E Targa about five years before and loved it. But I decided to sell it when we moved near the ocean and had no garage. The (ex) wife wanted a sailboat, so that’s what we did. I was interested in getting a new (to me) 911.

I was early at this particular startup, but not too early, so I could only justify about $20k for my purchase. My 30-day stock option lockup was about to expire, and one of our investment banks was managing option sales. I was told that I could buy and sell enough shares to buy the car in a day or so. I was looking for a replacement for the ’73E, maybe even an upgrade to an early 70s S.

What I found, though, was a 1974 911 MFI Euro Carrera coupe. The seller was asking $21K for it. It was essentially the same car as the ’73 RS, but with the ’74 trim. People hadn’t caught onto the value of that model yet in the US. It was a gray market car, which had a negative connotation to a lot of Porsche buyers at the time. The car had just been refreshed and was being sold by a collector. He had the COA from Germany, where it was originally sold, and it was numbers matching white with black Carrera script. The owner was getting married and was selling it to buy his fiancé a nice engagement ring. His main collection was AC Cobras. The only non-original part on the car was a’ 75-76 whale tail, rather than the ducktail spoiler. I now know the German delivery cars didn’t come with a tail due to German safety regs, so that is likely why the wrong one was installed.

I drove the car and fell in love. So I placed a sell order on the shares to buy the car and gave the seller a verbal offer. But our investment bank, Hambrecht & Quist, claimed they didn’t have our shares set up to sell in their system yet, since  I was the first person to sell. My options had a strike price of about $12 a share, and when I placed the order, the shares were trading around $22-23. H&Q sat on the order for almost a week. During that time, the shares started to tank. The CEO of our company was fired in a surprise move. H&Q finally sold my shares at $15. Instead of making $10-11 per share, I wound up with $3 a share. I was pissed, but there was nothing I could do about it. In the end, I sold my shares for more than anyone in the company that didn’t sell them at the IPO. But I would have sold them at their peak.

 

I called off the Euro Carrera deal, brushed myself off, and bought a ’79 SC Targa instead. I kept that car for many years. But even then, I knew that the one that got away would be a real collector’s item someday. That car was in California the last time I checked a few years ago. I now have one of the first guards’ red 911s to come off the line in October of ’74. It’s a base Targa that a PO set up like a’ 75-76 MFI Carrera. It’s no substitute for the real thing performance (or $) wise. I’ll never be afraid to put miles on it, though.

Mark O’Connor

” Fyi, the car that is the subject of my story is pretty valuable these days. I watched an auction of a ’75 example about 9 months ago that sold on BaT for $321,911. I posted a comment on that auction recounting this story.”

 

https://bringatrailer.com/listing/1975-porsche-911-carrera-18/

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