Old Porsches hot property

In demand: A 10-year-old air-cooled Porsche 993 with 40,000km-50,000km on the clock still fetches $80,000 and more.

The price of nostalgia is holding up well, judging by demand for the 993 Porsche, the last of the air-cooled models.

"There are not that many around, especially the New Zealand-new ones, and when they come on to Porsche dealerships they sell very quickly and for good money," said Porsche New Zealand marketing executive Dane Fisher.

Porsche New Zealand sold 93 of the 993 models between 1994 and 1998.

Back then they cost around $220,000 new, depending on specification.

Now, 10 years on, base models with 40,000km-50,000km on the clock are are still fetching upwards of $80,000.

"Some are going for much more than that," said Fisher. "The 993 turbos are another story. They still sell for up to $160,000."

Fisher said the air-cooled, flat-six engines of the 993 remained a lure, eight years after Porsche moved to water-cooled engines to meet new emissions requirements.

"The purists love them. They love the classic shape, too, which Porsche is going back to now," he said. "But above all it's the air-cooled engines ... they want a piece of Porsche history."

The first 993 came off the production line in Germany in 1993 and the car went on the market in 1994.

It had an altogether new look, designed to pull Porsche out of the financial doldrums it had wallowed in since the late 1980s.

The nearly upright headlights that had accompanied the 911 for more than 30 years were replaced with 959-like items in favour of better aerodynamics.

There were new front bumpers with air vents, new front wings, 16-inch wheels and wider rear bumpers.

Chassis revisions were just as extensive. Engines and brakes were modified, the rear suspension redesigned. A new six-speed gearbox appeared.

The 993 also had a new interior. Luggage space was increased by 20 per cent. There were new seats, a new steering wheel. The instrument layout had been improved.

The first model was a coupe, to be followed by a cabriolet. A targa arrived in 1995 and a year later the RS, RS Clubsport, and the all-wheel-drive Carrera 4S and Turbo.