Good Find Friday features interesting vehicles we’ve found for sale while conducting market analysis or appraisal research. They are not for sale by Wolf and Mare and we have no business relationship with the sellers. We just think they’re worth learning about and sharing with our readers!

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Ever since I learned to drive a manual transmission in my Dad’s Porsche 924, I’ve had a fondness for the brand’s transaxle cars. Surprisingly, I’ve never owned one despite their affordability. Lately, I’ve been casually looking for an interesting car to replace my soon-to-be sold 955 Cayenne and have considered acquiring a Porsche 968, as I’ve admired the car since I first saw one at a Porsche event 20 years ago. At the time I had no idea what it was, but I’ve come to appreciate the model’s modern styling and comforts. While window shopping for 968 coupes, I stumbled on an extremely rare variant to feature as today’s Good Find Friday car: a Porsche 968 Turbo S.

The final evolution of Porsche’s front-engine, rear-transaxle series, the Porsche 968 succeeded the 944 with significant updates to engineering and design. Introduced in 1992, it featured a 3.0-liter inline-four with dual overhead cams and VarioCam variable valve timing, offering strong torque and smooth power delivery. Built in Zuffenhausen, it was available as a coupe or cabriolet and used a near-perfect 50:50 weight balance for precise handling. The styling was cleaner and more integrated than its predecessors, blending cues from the 928 with modernized aerodynamics. Production ended in 1995 after roughly 12,700 units, marking the close of Porsche’s transaxle era.

The 968 Turbo S was the rarest and most potent version, with just 14 examples built as homologation cars for the 968 Turbo RS racer. It used a turbocharged 3.0-liter engine with an eight-valve head derived from the 944 Turbo S, producing about 305 hp and 368 lb-ft of torque. The car could reach 60 mph in under five seconds and topped out near 175 mph.

Featuring a lowered suspension, additional hood ducts, unique spoilers, Speedline wheels, and a limited-slip differential, the 968 Turbo S was intended as a limited production model but was never built in serious numbers due to the popularity of the 911 Carrera RSR. It’s now regarded as one of Porsche’s rarest and most technically distinctive transaxle cars.

Billed as a one of one factory prototype, this 1992 Porsche 968 Turbo S is finished in the unmissable shade of paint-to-sample Speed Yellow over a black cloth interior and is offered by the selling dealer at $599,900. There is background information presented to substantiate claims of it being the prototype, including its VIN of 800412 and its use as a factory press car with the license plate “BB-PW221.” Several other documents in German are also posted on the dealer’s listing site.

The car’s mileage is listed at 77,660, and the car’s overall condition appears to be very good, aside from some visible blemishes on the large and protruding front splitter. Waviness is present in the side skirts, but this is extremely common on 968s.

The interior appears to be in generally excellent condition, with the hardback color-matched fabric racing seats showing no obvious signs of serious wear. It’s odd to see an airbag steering wheel in what is ostensibly a homologation race car, but that’s certainly a nod to regulations. The car is otherwise rather minimal in creature comforts.

Its 3-liter inline-four was built out with lower compression, a water-cooled turbocharger and a two-valve head putting out 305 horsepower and 368 lb-ft of torque. The racing version of the car produced 350hp and earned the moniker 968 Turbo RS. I wouldn’t call the engine bay pristine, but it’s clean for a car its age. There is some corrosion and loss of finish on some components, blemishes can be seen on the Porsche-branded carbon fiber strut brace, and some grime here and there. On the plus side, it’s likely very original given the mileage. Other 968 Turbo S cars do not feature the strut brace, so it’s either a later addition or an indicator of its use as a test vehicle.

One strong connection to its rear-engined sibling is the application of the brakes and suspension from the 964 Turbo to the 968 Turbo S. A six-speed transmission and limited slip diff transfer power to the car’s multi-piece Speedline wheels. All four lightweight wheels appear to be in excellent condition and wear Pirelli P-Zero tires with what appear to be 2021 dates (but don’t quote me on that).

Overall this car has a few blemishes and touch-ups from use, but presents as original and was apparently used as personal transportation until it became obvious that preservation of such a rare vehicle took precedence. It was from then on displayed in the entryway of the owner’s mansion.

This exact car was sold by RM Sotheby’s at their Monterey Sale in 2023 where it hammered for $516,500. RM seems to have a bit of a specialty in selling these, as they consigned another 968 Turbo S in blue back in 2025, but that car failed to meet reserve at their Miami event in March.

Is it possible that this car has gained in value relative to the overall market over the last couple of years? Data doesn’t substantiate this for the base 968 car, which has lost 2-5% in value over the last year and is generally flat since 2022.

Exceptional cars are more difficult to value. If we look at close comparables, the Midnight Blue Metallic 1994 Porsche 968 Turbo S offered by RM Sotheby’s in Miami was bid to just $440,000 against an estimate of $550-750,000. That car was also one of just 13 built and had lower miles, a critical factor for collectors, but it did not have the provenance of today’s feature car.

If you’re in the market for a car at this elevated price point, the cost may not matter as much as your desire to add the car to your collection. Would I buy one? Probably not. I’d personally lean toward something with an engine in the back as an investment vehicle and purchase something like a low-miles Porsche 968 Club Sport to show, display and enjoy on the road.

That said, if you love the balance, performance and looks of transaxle Porsches, there’s nothing more exclusive than the 968 Turbo S.

Have a great weekend, everyone.

Wolf and Mare provides car finding, appraisal and auction services for sellers and buyers of collector European cars. We also provide importation services. Give us a call or drop us a line!