When introduced in 1978, marque enthusiasts didn’t know what to think of the 928. Like the four-cylinder 924 offered the prior year, the new car was front-engined with a water-cooled power plant. This, then, was the future for Porsche, as the company appeared to have plans to phase out the 911, which even then had been in production for over a dozen years.
The press was much more positive about the 928 than long-time Porsche enthusiasts. It was sleek, exotic looking and very fast. The long nose behind the exposed pop-up headlamps held an all-alloy 4.5-liter (273-cid) single overhead camshaft V8, producing 219 bhp in American trim.
Despite the use of aluminum panels for the doors, hood and rear hatch, the 928 weighed a less-than-svelte 3,144 pounds. The new Porsche was very refined and quieter than the 911, yet capable of reaching 60 mph in 7.0 seconds and topping out at 138 mph.
Although the base price in 1978 was a heady $28,500, that was just the starting point for what was as much a luxury vehicle as it was a closed sports car. Although power-assisted brakes and steering were standard, air conditioning, sunroof and a long list of options added to the tariff.
The 928S received a 4.6-liter engine and 234 bhp in 1983. The five-speed manual was a no-cost option, with the automatic standard. This was in the days when an automatic wasn’t even available in the 911, the Sportomatic having died a quiet death in the late ’70s.
By the time the example shown here was built in 1986, it cost $50,000 and sported double overhead cams for each bank of cylinders. Displacement, at just under 5 liters (302 cid) , allowed the power output to climb to 288 bhp.
Finished in a lovely burgundy metallic, this automatic 928S has all the standard luxury equipment such as tan leather, air conditioning, electric windows, power steering and power-assisted brakes. It is truly in excellent condition and has covered just 57,000 miles since new.
SCM Analysis
Detailing
| Vehicle: | 1986 Porsche 928 S |
| Years Produced: | 1978-92 |
| Number Produced: | 61,200 (approx.) |
| Original List Price: | $50,000 (1986) |
| SCM Valuation: | $9,000-$12,000 (928S) |
| Tune Up Cost: | $750 |
| Distributor Caps: | $45 |
| Chassis Number Location: | On horizontal bulkhead under front hood |
| Engine Number Location: | Stamped into alloy engine block near head |
| Club Info: | Porsche Club of America, 5530 Edgemont Dr., Alexandria, VA 22310 Web |
| Website: | http://www.pca.org |
| Alternatives: | Mercedes 450 SLC, BMW 635 CSi, Corvette C4 coupe, Jaguar XJS coupe, Ferrari Testarossa |
This original 928S sold for $12,075 including buyer’s premium at the Bonhams & Brooks auction in Aurora, Illinois, June 9, 2001. The values of all 928s continue to languish, so I view this distressing price as market correct, perhaps even a bit generous to the seller.
Unfortunately for owners, 928s are the Rodney Dangerfields of the Porsche world. Even though each 928 has a full complement of statistically significant high performance numbers, most hard-core Porsche enthusiasts won’t give 928 owners the time of day. This is due to the completely backwards manner (at least from a Porsche fanatic’s perspective) in which the car was designed, with a quiet, torquey water-cooled engine in the front. Then there is the rather boring way they handle, with smooth and predictable understeer rather than the excitable hi-jinks the 911 is so well loved for.
They have also been called the Stuttgart Corvette, due to the similar layout, but if you drive any 928 and any Corvette back-to-back, the difference in the feel of the two cars is astounding. The Porsche has a rigid body structure with precise handling, while the Corvette feels much looser.
Repair costs are not trivial with a used 928. Parts are wildly expensive, at times no longer available and top-flight factory trained technicians few and far between. I have recently followed a local 928 as it has gone from shop to shop in search of a person who could trouble-shoot a host of fuel injection and electrical gremlins. The car has been out of service for more than six months and the end is nowhere in sight. Cubic dollars could remedy the problems, but more creative methods are required due to the modest value of the car.
This is not to say that a fully sorted 928 is unreliable, but unlike the simplicity and rugged design of the 911, the 928 is rather more fussy and the maintenance schedule must be followed carefully.
Sadly, I don’t see the prices of even well-kept 928s moving upward and can imagine their values behaving more like the unloved Maserati BiTurbo than their close cousin, the 911. There is a lot of performance for the money here, but the lack of upside and the potential for frightful running costs conspire to make almost any 928 a suspect investment, at best.-Jim Schrager
(Historic data and photo courtesy of auction company.)