Humans are fickle creatures. We quickly go from loving something to hating it, and vice versa. When Porsche released the 964-series 911 in 1989, initial reactions were not universally positive. Many of the 911-faithful said it was too big, too bulbous and not in keeping with the Porsche ethos of small and light. Those were the charitable comments; many others were less so.
Critics ignored that the new 911 was aerodynamically superior to its G-body predecessor while having a more-powerful 3.6-liter engine, revised coil-spring rear suspension, anti-lock brakes and an automatically extending rear spoiler, among other upgrades. A new Tiptronic automatic transmission and the introduction of the all-wheel-drive Carrera 4 vastly broadened the 911’s consumer base.
On the resale market, values dropped like a rock, with 964s commonly traded in the $15k–$25k range, less than half of original MSRP, by the end of the decade. Derided and unloved, there was no rebound in sight — until there was. A decade later, the 964 didn’t just gain a renewed fan base, it saw a complete reversal of fortune.
A golden era
Two major factors superheated the 964 market. One of these is the “Singer effect,” which I tend to discount. In recent years, a relatively small number of tired examples have been completely “reimagined,” transforming into bespoke, near-seven-figure resto-mods that pay homage to the long-hood 911s of the 1960s and early ’70s.
However, given the volume of unmodified 964s that now commonly fetch $70k–$110k at auction, I would say the rise in appreciation of Next Gen models — defined here as cars from the late 1980s to early 2000s — is of far greater significance. Fueled partly by younger buyers entering the arena, this transition has dramatically boosted values of many sports cars from an end-of-analog period that is gaining recognition as a golden era.
But it’s not just young collectors with the means to acquire their childhood dream cars that drive this market change. It’s also middle-aged and older buyers who, faced with a changing automotive world, yearn for the simpler cars they owned and sold decades ago. As a result, we’ve seen the values of 1990s classics from the Mazda RX-7 to the Lamborghini Diablo double, triple and quadruple over the past decade.
Size matters
Lighter in weight and with a smaller footprint than today’s performance models, the Next Gen era appeals to those who prefer sports cars to be canyon carvers as opposed to boulevard-cruising grand tourers. So while “supersize” has become the norm in the U.S. for everything from cheeseburgers to houses, with enthusiast cars, the ethos of small and light is still desirable. Next to a new Porsche 992, the three-decade-old 964 looks positively dainty, svelte and true to the original form. It has morphed from its original perception without actually changing at all.
This isn’t unique to Porsche. Back in 1990, the BMW M3 weighed roughly 2,800 pounds, while today’s portly M4 coupe smothers the scale at 3,850 pounds. Yes, power increased more than proportionally, but small, light and nimble the latest BMW isn’t. Nearly any performance car you care to mention has packed on both pounds and inches: the Nissan Z car, Subaru WRX, Chevrolet Corvette, Ferraris, Lamborghinis and so on.
While newer cars outperform their counterparts of 20–30 years ago in performance metrics, this becomes less important as time goes by. No one expects your 1996 Ferrari F355 to blow the doors off a 2026 296 Speciale, but the older car can feel more engaging, the driver being able to extract a far greater percentage of its performance potential on the next backroads club drive.
Just the basics
Up to the early 2000s, most cars were still largely analog. That means high driver involvement with few-to-no electronic aids and three pedals as standard equipment on most sporting models. Improved crashworthiness over chrome-bumper classics, ABS and even frontal airbags are features of many cars from the late 1980s forward. This increases driver confidence in modern traffic over older classics, but without the overbearing nanny-like control of today’s technology. Modern freeways can be harrowing in a 1963 Mercedes-Benz 190SL but almost serene in a 1993 500SL.
In addition to basic safety features, Next Gen cars have a reasonable amount of creature comforts and technology to encourage frequent use. Adequate climate control and ergonomics allow easy daily driving, while reliable fuel injection offers trouble-free starting and performance in a variety of temperatures and environments. There’s no fiddling with chokes on winter cold-starts or adjusting carburetors for high altitudes. Galvanized chassis and body panels allow for all-weather driving with minimal concern for rust.
Servicing tends to be manageable, especially for post-1996 cars with universal OBDII diagnostic compatibility. Even earlier post-1988 OBD1 models offer electronic diagnosis with specialist equipment. This can take hours of examination and guesswork off repair bills and reduces downtime. And there’s simply a larger network of mechanics able to work on cars of this age, more so every year as options dwindle for mid-century and older classics.
The sweet spot
For many of us, Next Gen cars represent the best of both classic and modern worlds. Engaging and right-sized, they are also quick, reliable, safe and easy enough to use on a whim, without forethought and pre-planning. Perhaps best of all, they don’t require the owner to read a 500-page manual or scroll through touchscreen menus just to set the air conditioning. Is it any wonder that the Next Gen segment is leading the market?
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