Lot 124


1992 Porsche 928 GTS


€109,250 EUR | Sold

Monaco | Monaco, Monaco



Chassis No.
French Certificat d’Immatriculation
  • One of around 2,900 Porsche 928s built to the ultimate GTS specification
  • The most powerful and desirable 928, with a 345 horsepower 5.4-litre V-8 and manual gearbox
  • Beautifully presented in Satin Black with matching leather trim, and air-conditioning
  • Accompanied by original owner's manual, manufacturer literature, as well as assorted service and ownership records

Released in 1977, the 928 was Porsche’s second front-engined, water-cooled model (after the entry-level 924). Equipped with a 4,474 cc V-8 and rear-mounted transaxle, it was the largest-engined production Porsche to date, and represented Stuttgart’s vision of the future. Yet, although crowned European Car of the Year, the 928 failed to generate the same following as the air-cooled models. Front-engined Porsche enthusiasts and owners alike will argue that the 928 was long overlooked but has always been a very special car—especially the last-of-the-line GTS.

Launched for the 1992 model year, the GTS featured more aggressive styling with wider haunches, 17-inch Cup wheels, bigger brakes, more aerodynamic mirrors and a body-colour rear wing. A unique panel between the lights made the GTS instantly recognisable from behind—the view which other drivers were most likely to see. The real news, however, lay beneath the aluminium bonnet. Stretched to 5,397 cc, the all-alloy V-8 developed 345 horsepower—almost 50 percent up on the original. Capable of 100 km/h in 5.7 seconds, the GTS topped out at a phenomenal 275 km/h. Handling and roadholding were, quite naturally, outstanding. A civilised yet electrifying machine, it was among the greatest GTs of its era.

This particular example was delivered to its first custodian in Parma on 26 October 1992. It is testament to the appeal of the GTS that, in spite of being a stone’s throw from Italy’s supercar heartland, the owner favoured the German coupé over rivals from Ferrari, Maserati, or Lamborghini. The Porsche remained in Italy for 15 years, before being acquired by a Swiss enthusiast in 2007. Six years later—displaying little over 51,000 kilometres at the time—it passed to German ownership, at that point being mechanically refreshed. In 2021, the 928 was purchased by a discerning French collector who, in August 2022 alone, invested €4,357 in maintenance and improvements. At the time of cataloguing, this well-preserved machine was still showing just 52,640 kilometres.

While more than 61,000 Porsche 928s were built from 1977 to 1995, the GTS was far from commonplace. Around 2,900 were sold worldwide, representing less than five percent of production. Almost 30 years after the model was withdrawn, this is, therefore, a superb opportunity to acquire a rare example of the ultimate Zuffenhausen GT. Finished in Satin Black with matching leather, the ultra-desirable manual gearbox, and air-conditioning, it comes complete with tools, its stamped service book, plus a multitude of invoices.