This car, Lot 128, sold for $89,165 (CHF 71,300), including buyer’s premium, at Bonhams Cars’ Chéserex, CHE, auction on June 29, 2025.
In the late 1950s to early 1960s, Porsche envisioned the upcoming Type 901/911 to replace the expensive 356 4-cam Carrera as a top-of-the-line, high-performance model. Porsche would continue to make a 356 as an entry-level model under the flag-carrying 901. Porsche’s engineers designed a more-expensive, best-of-breed car with an exciting new body style penned by Ferry Porsche’s son Ferdinand Alexander “Butzi” Porsche, with a new 6-cylinder 2-liter engine, a new 5-speed gearbox and a new suspension.
By 1962, thought had changed. Prototype 901/911s were built and powered by different engines, including 356SC (1,600 cc, 95 hp) and Carrera 2 (2,000 cc, 130 hp) flat-4 engines, plus a new twin-fan, under-floor 2-liter Type 745 6-cylinder engine. Helmuth Bott canceled (with malice) the Type 745 because its ability to develop additional horsepower for racing applications was limited by its adherence to 356 engine-design principles. Engineers went back to the drawing board.
Now the plan turned to a new entry-level car under the expensive new model. Continuing the 356 in that role looked like a step backwards to both Helmuth Bott and Ferry Porsche. It was an elderly body style, cramped inside, with an almost outdated suspension. To achieve a price point, Porsche followed the wants of the marketing staff, forsook their engineers, and combined the old 356SC 4-cylinder engine with the new 901 tub and mechanicals, creating the Type 902. After the famous Peugeot interdiction on car models with a “0” in the middle, the 901 became the 911 and the 902 became the 912, both marketing-department monikers.
Production hurdles
The 1964–65 356C/SC models weren’t even supposed to happen, nor was the 904 racer supposed to be powered by a four-cam Type 587/3 engine. Both happened because tooling up for the new 911 and its new 6-cylinder engine took more time and more money than planned. After seven years of start and restart, the 901 was introduced at the September 1963 Frankfurt Auto Show. It would take another 15 months for production to begin. Development of the new flat-6 was perhaps even more taxing. It was certainly not ready in racing form in time to power the 904 and barely ready in time for the 906.
In 1963, Porsche bought the Reutter body-assembly plant from its founding family, who wanted out before having to commit huge financial resources to gear up for 911 body production. (The Reutters continued in the seat business as Recaro in another plant they owned.) Purchasing the Reutter bodyworks was ill-timed because Porsche was crunched for money to develop the 911. Furthermore, the old Reutter factory was too limited to build more units. Thus, Porsche contracted with Karmann to take over body production for 356C/SC coupes and 912s.
Entry-level option
Engineering was tasked with getting cost out of the 912, and it succeeded, even though the Karmann bodies were more expensive than if produced at Reutter — perhaps 5%–7% more. Specifications included a simplified three-dial instrument panel, a metal and plastic — not wood — steering wheel, simple vinyl interior, standard 4-speed gearbox (the 5-speed unit was optional) and a host of smaller deletions and changes. Costs came into line.
The 356SC engine in a 911 chassis was a good marriage. The 912 weighed in at 2,100 pounds stripped and 2190 normally equipped, down 170 pounds compared with a 911, even if it was 220 pounds more than a 356C coupe. The lighter weight in the rear gave better handling than a 911, fuel economy was better, and the overall experience was a big improvement compared to a 356.
Of course, performance was more modest than a 911’s, with 0–60 mph in 11.6 seconds and a top speed of 119 mph at 5,900 rpm — per Road & Track. The Type 616/36 engine was down slightly in output at 90 hp but uprated slightly in mid-range torque versus the old 356SC unit — born as a “Super 90” for 1960 models. Changes to the camshaft and valvetrain yielded the torque and a higher redline, up 500 rpm to 6,000.
Buyers liked the 912, introduced in September 1964 and sold only in Germany in 1965 to the tune of perhaps 2,000 units. It came to the U.S. as a 1966 model priced at $4,700 versus $6,500 for a 911. In the U.S., the 912 initially outsold its 911 big brother, but that soon changed. There are disagreements over reported sales figures, but my most trusted numbers are: 1964, 1,550–2,000; 1965, 6,438; 1966, 12,100; 1967, 3,237; 1968, 7,242 and 1969, 4,679. Included in these numbers are 500–1,200 units per year for Targas that were introduced in 1967. Later, the 1976 912E was a U.S.-only model with a Volkswagen Type 4 engine. This was Porsche’s stopgap entry-level car before the 924 became available here in 1977. Some 2,098 were sold.
Small engine, big fun
The 912 at Bonhams Cars’ Bonmont auction was restored in 2021 with a full mechanical refurbishment. Bonhams claimed fulsome documentation of that work. The car was presented in a popular color: Aga Blue. The bodywork was smooth, with fairly good panel fit. Trim was clean and bright and a combination of nice original and reproduction. It had chrome wheels with silver crests. The interior was crisp and looked fully restored.
Against a presale estimate of CHF 86,000–CHF 98,000, or about $108k–$123k, the blue coupe sold for $89,165 with buyer’s premium. That is fair money for an Aga Blue 912 in good condition. Excepting a rare 1963 prototype and an all-original preservation car in Tangerine, we have seen no other 1965 912 sales on the north side of $100,000 since 2016. Along with long-hood 911s, the post-Millennials’ lack of interest in older Porsches has affected the market. This result was in the range of many other sales.
All of this reminds us to say that a properly set up 912 has a relatively low dollars-per-smile ratio. They are fine machines, great fun to drive around town, inexpensive to maintain, but must have the 5-speed gearbox — an extra $35 in 1965, but standard by 1969. It’s a best-buy for an entry-level Porsche that has the iconic 911 silhouette.
