Email
While a proven racing provenance will usually help to lift a car’s value, can the same be said for celebrity ownership? Case in point, Jerry Seinfeld’s ’97 Porsche 911 Turbo S; currently listed for sale at TruSpeed Motorcars, in Costa Mesa CA, for $225,000. That’s a pretty pricey premium for a model that would otherwise sell in the $135k to $150k range.
Is the price justified?
Scott McCloud (sales manager at TruSpeed) doesn’t think that previous celebrity ownership should play a big role in the pricing and sale of the car. In fact, he believes the car’s other, more unique features are what set it apart from the very few Porsche Turbo S’s on the market.
1997 Porsche Turbo S Features
- 1st Turbo S built and imported to the US
- The only one produced in Turquoise Blue (the color is slowly growing on me)
- Factory cell phone with special console
- Low miles (only 8,000)
- The first of only 175 built in 1997 and one of only 345 total between ’97 and ‘98 (production numbers vary by a few cars depending on source. My numbers are courtesy of (Adrian Streather’s “Porsche 993 The Essential Companion”)
As it happens, past sales may prove that celebrity ownership can provide a premium. One of Seinfeld’s beloved 356’s sold at a Barrett Jackson auction in 1997 for $82,950 or, almost twice the then going market price. The new owner didn’t mind the additional expense as they too thought the celebrity provenance would help to increase attendance at the museum where the car would be shown. See the full article here.
On-line rumor mill
There has been a lot of discussion regarding this car on various web forums - such as Rennlist and 6Speedonline. I have read significant speculation on provenance, pricing, and length of time it has been for sale (in fact, some think it has been for sale continuously for the past two years). In order to put some of this to rest, I decided to make a few phone calls and find out directly for myself.
Here’s what I learned:
- The car was originally ordered for Jerry Seinfeld through Circle Porsche of Long Beach California
- Seinfeld had the car as part of his collection until sometime in late 2005 early 2006
- It was then offered for sale by Seinfeld’s fleet manager (Sam Cabiglio) through Richard Sloan of Sloan Cars in CT (Richard has sold other Seinfeld cars in the past)
- Richard sold the car to a private collector
- The car then returned to Sloan (via the unnamed private collector) and was subsequently sold to TruSpeed about six (6) months ago
- The car is fully documented as to provenance, ownership and service history
Bottom line, this is a unique car and unique cars require unique buyers. As the first in a production series, along with the only one of its kind color, low miles, and factory options this will make a very nice addition to someone’s collection. My only hope, as a true Porsche enthusiast, is that it gets driven and enjoyed the way a car of this caliber should be. Please click on any of the additional thumbnails below for full-size images.
First and last air-cooled Porsches
As an interesting factoid, among the other Porsches owned by Seinfeld are the first air-cooled 911 and the last air-cooled 911 (both pictured here).
Quick update: As you can see from the comments below, the information I was given may not have been 100% accurate. Check out this post for the most up to date information on Seinfeld’s 993 Turbo S.
Related Posts
Jerry Seinfeld’s 1994 Porsche Speedster 911 Sold at Auction
Seinfeld’s 97 Porsche 993 Turbo S on the eBay Auction Block
Differences Between a Porsche 993 Turbo and a Porsche 993 Turbo S
Porsche 993 Twin Turbo compared to a Porsche 997 Twin Turbo
Porsche Goes to Hollywood
The Most Famous Porsche
[Source: TruSpeed Motorsports, Richard Sloan, NY Times; Picture Source: TruSpeed Motorsports, Hillman Images]
Let’s set the record straight. This ‘97 Turbo S was sold by me (for Jerry) to a private buyer in Washington state in April 2005. Subsequently it was sold by the private buyer to Richard Sloan in February 2006. I do not sell vehicles “through” Richard Sloan or anyone else, and Richard Sloan has NOT sold other Seinfeld cars in the past.
Sam Cabiglio
Sam,
I left you a voice-mail. I will also post an updated article later today/tomorrow with the information as corrected above. Appreciate the feedback and apologies for any confusion.
I spoke with Richard for 5 to 10 minutes or so earlier in the week, regarding this car, in preparation for the article. I must have misunderstood the part of our discussion about selling previous Seinfeld cars.
Sam, Is that detail really that big of a deal? I mean its not like they are selling rights to Micheal Jacksons “Thriller” and forgot to mention you co-wrote “Billie Jean” and was the stage hand that made that sharp crease in MJ’s pants for the video!
@Carlos,
Not sure if Sam will be back to answer or not. If he is great. In the interim, I’ll weigh in.
I think it is “that big of a deal”. Reputations are built on actions and events. If someone were to unfairly, unjustly or wrongly claim credit for an action or an event I were responsible for, I think it is only reasonable to “set the record straight”.
In fact, if you don’t speak up for yourself, who would expect anyone else to do so?
John
(aka 993C4S)
Hey, thanks for commenting on my PcarBlog post referencing your post.
I’ve also updated my entry to directly link back to this post.
Keep up the good work with the site!
Eric
(aka corsa)
i have a porsche 993 turbo and a ferrari 512tr and the porsche gets to beat the ferrari on cornenrsit even can win a ferrari 430 that i used to have. this car is AWESOME!! so i realy recomend everyone to buy this car.
Super Car’s on my Dream!!!!
People collect cars for many reasons,however,a unique color and ownership by a famous funny man do not pump up value.Nor does first of a series,last of a series,low serial no.,etc. Perhaps this is why I would never hoard,um excuse me,collect a car by storing it.Driving is a hobby and to some an occupation.Collecting,storing,concours polishing is also. A car as a trophy or lifestyle talisman annoys me.
@Glen,
Don’t know how I missed this comment. I’ve always broken things into two categories: Enthusiasts and Collectors.
Enthusiasts purchase their cars to drive and enjoy vs. sitting in a garage or showroom collecting dust and hopefully appreciating.
Collectors purchase their cars as an investment and even view them as artwork (with some cars I don’t disagree with this.)
However, some very fortunate and wealthy enthusiasts have so many cars that they only get to put a few miles on them.
As to celebrity provenance/ownership adding value, I guess that depends on who the buyer is. Past auctions have shown that certain previous owners do in fact add value (rightly or wrongly.)
At the end of the day, collector, enthusiast or whatever, a car is only worth what someone is willing to pay for it.
I am fully aware of which category I fall into,as well as the factors that contribute to collectibility and cost.However, I think cost and value are totally different and very subjective.That said, I feel the way I do because I wish to use parts that are enshrined,polished,revered as art, as they were intended.
@ Glen,
Sounds a bit anal retentive to me. No, obsessive compulsive is more accurate. And why the hell would you care if someone bought a car just to lock it away. It’s their car, right?
Big Bad Huey (still saving for a Porsche of my very own)
[...] http://993c4s.com/cars/jerry-seinfelds-1997-porsche-911-turbo-s/ [...]
When I first saw a Sloan listing for Jerry’s Blue Turquoise 993 Turbo S I noted that the listing made a rather big deal of the uniqueness of the color. Later, I was in contact with one of the owners (he collected several 993 Turbo S cars) and clarified for him that in 1997 the color Blue Turquoise (3AS) was in fact a standard color that year (and in 1996). It wasn’t a Paint to Sample car as Sloan had been pitching. I could sense a bit of disappointment in that owner, feeling that Sloan had misrepresented that minor aspect of the car. (Blue Turquoise was soon dropped from the standard color lineup at Porsche because it was rarely ordered). The only point to be made here is that potential buyers of collectible cars should be fully aware of everything about a particular model year and not necessarily trust the word or guidance of someone who’s motivation is upon a sale.
@Dan,
As I never saw the original listing you mention I can’t really comment. My understanding has always been that the color was a standard color (not paint to order). However, even as a standard available color, this particular example was the only one painted in that color. I always thought that this aspect (one car produced) was the point that was being pushed/pitched (but again I didn’t see the original listing).
Regardless, I couldn’t agree with you more about buyers needing to be very familiar with a particular model and a particular year. Even the most reputable dealer in the world can unknowingly make a mistake or a misrepresentation. As the saying goes, “Buyer Beware”!