For most of us working stiffs, the American outlaw possesses the heart-pounding cache of roads not taken.
Steve McQueen, Clint Eastwood, Vin Diesel and other "bad boys" have created personas that spun gold for them and exhilaration for their audiences. After a day at the office, we felt empowered watching them reshape our world through their own brand of mayhem, compassion and courage.
Porsche owners have our own outlaws as well. Magnus Walker, Rob Dickinson, and Rob and Gary Emory have hot-rodded vintage air-cooled 911s and 356s into exploits of bad-boy guts and glory called Outlaws. Their mad, customized renderings of corporate precision have bared the alter egos of our gods in Zuffenhausen by exposing the take-no-prisoners potential for roadworthy anarchy, individuality and theatrics using collectibles that continue to skyrocket in value.
After all, who is crazy enough to modify a stunning 356? It takes an outlaw to create an Outlaw.
The 1953 Porsche 356 Outlaw Cab from Emory Motorsports.
It's easy to argue that the long-tail price rise in those discontinued air-cooled Porsches is attributed to scarcity, supply, demand and an ideal that worships singular sports-car perfection.
We pay dearly for the lost art of the air-cooled Porsche as inventory of the discontinued cars dwindles through attrition, appreciation and hoarding. Other reasons for their appreciation are well known — demographics, racing, pedigree and prestige. The classifieds of the August 2016 Porsche Panorama had a 1956 356 Speedster listed for $210,000, while a 1969 911S had an asking price of $260,000.
But there's one economic dynamic at work here percolating just beneath the surface: the Outlaw premium.
Do the hot-rod 911 and 356 Outlaws actually impact the bottom line in the collectors' market? We drool at the creations by Walker, Dickinson and the Emorys. These Porsches give rise to an aspirational vision in the entire air-cooled ecosystem that may cause a mystical uptick in prices.
The best-known example of the Outlaw premium is Harley Davidson.
Weekend warriors who wear Brooks Brothers to the office squeeze into Harley-branded leathers and blast through their subdivisions to let their neighbors watching "Face the Nation" know the big V-twin roar comes straight from their heart. The Wild One on Chrysanthemum Court can still raise hell (and coach T-ball) to the tune of a full-bore $30,000 kit. #LiveYourLegend, the company advertises.
Meanwhile, as air-cooled Porsches soar in price, the rest of us vintage front-engine, water-cooled Porsche folks still wait for our own Outlaw to give those models a bit of an Outlaw premium price goose. And there's plenty to work from.
A 1971 911T outlaw from Magnus Walker’s Magnus Motorsports.
Porsche manufactured about 135,400 924 models from 1976 to 1985. Close to 80,000 944 Porsches were produced between 1982 and 1991. By comparison, the 968 was extremely low volume at about 12,800 made from 1992 to 1995. And when it comes to the big-block 928, Porsche made nearly 61,000 starting in 1978 and ending in 1995.
In terms of rarity, those numbers fare well against the air-cooled 356 of nearly 79,000 strong, starting with the earliest model in 1950 to the last in 1965, and the 911 production run of some 46,000 between the most desirable years of 1964 and 1969.
Even the 912 has appreciated in the halo of the 911. The four-cylinder 912 — of which some 33,000 were made during its four-year run — has been on an appreciation tear for its affordability, 911 styling and classic performance. Yet collectors of the vintage front-engine Porsches wait…
As the owner of a 1994 968, I wonder where will our outlaw come from? Will Walker, Dickinson or the Emorys have their way with the water-cooled, front-engine vintage 9XX Series? Or will that outlaw be another talent we haven't heard of yet? And will he beget others who will beget others, raising our beautiful vintage front-engine Porsches on the tide of the Outlaw premium?
Time will tell.
The 1955 Porsche 356 Emory Special from Emory Motorsports.