What's going on here?
Jerry Seinfeld isn't letting go of his 1969 Porsche 917K, even when someone waves $25 million under his nose.
Tell me more
That jaw-dropping offer came during Mecum Auctions’ event in Kissimmee, Florida, over the weekend.
If Seinfeld had said yes, this Le Mans legend would have smashed records as the priciest Porsche ever sold.
This 917 (chassis 022) played a starring role in the 1971 film Le Mans, where Steve McQueen brought fictional racer Michael Delaney to life.
McQueen actually bought the Gulf-liveried beauty in 1970, hoping to compete in the legendary 24-hour race himself.
Sadly, his studio vetoed the idea over safety concerns - if memory serves the insurance didn't cover him.
Still, McQueen wasn’t just a guy who looked good in a racing suit—he finished second at the 1970 12 Hours of Sebring behind the wheel of a Porsche 908/2 with a foot in plaster. So, he knew his stuff.
Fast forward to 2001, and Jerry Seinfeld adds this icon to his already impressive Porsche collection.
Why should I care?
Gooding & Co sold another 917K (chassis 024) in 2017.
Chassis 024 also featured in the film Le Mans.
It had a solid ownership history including names like Jo Siffert.
It had also been comprehensively restored.
That sold for $14,080,000 (including premium) in 2017.
That's about $18,000,000 in today's money.
To have $25,000,000, potentially, on the table (excluding premium) at a time when collector car prices and having a tough moment to turn it down is a remarkable statement.
Personally, even with the ownership history of chassis 022 that feels an incredibly fair bid.
Secondarily, the bidding was curious.
They attempted to get a bid at $50,000,000 straight off the bat, before dropping down to $25,000,000 and then $15,000,000 all within 30 seconds before finding its first bid in the room.
There's plenty of commentary out there questioning the validity of the bidding. It's not one we can comment on with certainty so we won't.
What does raise an eyebrow is the fact that it could've been sold at over $7,000,000 more than the previous inflation adjusted price of a highly comparable 917K, yet it wasn't...
So, what’s next for this chassis 022?
Well Seinfeld is a billionaire so I'm sure he'll have enough to make ends meet and keep enjoying the crown jewel of his collection as for now, it’s staying in Seinfeld’s garage.
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