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Yahoo
11-03-2025
- Automotive
- Yahoo
Jerry Seinfeld Finally Sells Historic Porsche 917K Post-Auction
Read the full story on Modern Car Collector Jerry Seinfeld has successfully sold his prized Porsche 917K, famously driven by Steve McQueen in the movie "Le Mans," after initially turning down a $25 million offer at a Mecum Auctions event earlier this year. Seinfeld disclosed the sale during an appearance on Spike Feresten's 'Spike's Car Radio' podcast, confirming that the vehicle was purchased by a private collector after the auction. This iconic car, chassis 022, initially attracted global attention when Seinfeld announced his decision to auction it through Mecum, a venue known more for American muscle cars than European race cars. Despite high expectations, the highest bid at the January auction was $25 million—insufficient at the time for Seinfeld. However, the auction served as a high-profile marketing platform, rather than the final sale venue. Seinfeld explained that the potential buyers of such a unique and valuable vehicle often prefer privacy and deliberation over the public and pressurized environment of an auction. This strategy proved effective; a private sale was concluded shortly after the auction, within the same price range as the highest bid. The Porsche 917K is not only notable for its cinematic history but also for its value in the collector car market. If Seinfeld's sale price was indeed around $25 million, it would surpass the previous record for a Porsche at auction—$14.08 million for another 917K used in "Le Mans," sold in 2017. The sale marks the end of Seinfeld's tenure as the caretaker of one of the most storied cars in both cinematic and racing history. Purchased in 2001, Seinfeld has maintained the car's condition and provenance, enhancing its value and desirability among collectors. The new owner, whose identity remains confidential, now possesses a significant piece of automotive and entertainment history. Follow us on Facebook and Twitter
Yahoo
07-03-2025
- Automotive
- Yahoo
Jerry Seinfeld Finally Sold the Porsche 917K from ‘Le Mans' After Turning Down $25 Million
The price was finally right for Jerry Seinfeld. The comedian revealed that he has finally sold his Porsche 917K during his appearance on Spike Feresten's 'Spike's Car Radio' podcast (via Road & Track) earlier this week. News of the sale comes just weeks after Seinfeld turned down $25 million for the race car that Steve McQueen drove in the movie Le Mans at Mecum Auction's Kissimmee 2025 sale. More from Robb Report This Rare, Barely Driven Lamborghini Sían Is Now up for Grabs This 1967 Ford GT40 Race Car Was Completely Refurbished. Now It's up for Auction. This 1969 Mustang Restomod Has One of Mario Andretti's Old Engines. Now It Could Fetch $1 Million. Jaws dropped last fall when Seinfeld announced that he was selling his 917K chassis 022. Enthusiasts weren't just shocked the renowned Porsche lover was parting ways with the marque's most famous vehicle but also that he'd chosen Mecum to oversee its sale, as opposed to RM Sotheby's or Gooding & Company. The auction house has a proven track record, but it's more associated with American-made muscle cars than the kind of historic European sports and race cars they write books about. Seinfeld told Ferensten and his co-host, Paul Zucker, that he went with Mecum because of a meeting he had with its founder, Dana Mecum. During their conversation, Mecum outlined how they would use the auction as a marketing opportunity for the comedian's car and his auction house, driving up interest in both. Seinfeld was so convinced by the idea that he claims he didn't even bother to pay attention to auction, where bidding topped out at $25 million, in January. Seinfeld went on to explain that the kind of collectors who have the money to buy something like the Le Mans 917K, don't always want to do business in a public setting. 'Some people don't want to buy it in that frenzied moment of an auction,' he said. 'They want to do it after. And that's what happened.' The comedian did not identify the new owner of the 917K. He also wouldn't say how much the paid for the car, other than that it was in the $25 million range. That would make the 917K the most expensive Porsche of all time, easily beating the $14.08 million that another example used to film Le Mans, chassis 024, sold for in 2017. Regardless the final price, Seinfeld is sure to have turned a nice profit on the vehicle, which he acquired from Frank Gallogly for an undisclosed sum in 2001, one year after his fellow Porsche buff bought the car for $1.32 million. Le Mans. Best of Robb Report The 2024 Chevy C8 Corvette: Everything We Know About the Powerful Mid-Engine Beast The World's Best Superyacht Shipyards The ABCs of Chartering a Yacht Click here to read the full article.
Yahoo
06-03-2025
- Automotive
- Yahoo
Here's Why Seinfeld Turned Down $25 Million at Auction for His Porsche 917K
The Porsche 917K once owned by Steve McQueen, and later, Jerry Seinfeld, made headlines back in late January for failing to sell at auction despite a $25 million bid. However, on a March 5 episode of Spike Feresten's "Spike's Car Radio" podcast, the comedian announced that the car has since been sold to a private collector. As a bad Seinfeld impersonator might say, what's the deal with that? It's safe to say Porsche 917K chassis 022 is one of the most iconic cars of all time. The car was driven by McQueen in the 1971 film Le Mans, and was purchased by Seinfeld in 2001. When it was announced that it would be crossing the block at the Mecum Kissimmee auction, the car collecting world took notice. How much would it ultimately sell for? Would it be the most expensive car to ever sell at Mecum? Bidding started out strong, but then fizzled out at the $25 million mark and the car was a no sale. Bummer. But not for Seinfeld. He had another plan. On the podcast, Seinfeld admits he never even bothered to watch the auction. 'I am a carefree guy, you know. Whatever happens, happens,' said Seinfeld, when asked why he didn't watch. He also said he didn't really expect to sell the car at the auction anyway; to him, it was more of a global advertisement for the car and for Mecum than anything else. Seinfeld explains that with high-end items like this, a lot of the time, serious buyers don't want to buy in the frenzy of an auction setting. So he met with Dana Mecum, the president and founder of Mecum Auctions, and they devised a plan. According to Seinfeld, many people in the industry didn't think the car would be worth $25 million. But Mecum and Seinfeld thought that it was, and Mecum had a plan to market it. It would be great exposure for the car, and great exposure for the auction house. From that perspective, the plan worked beautifully, even if the auctioneer didn't ultimately make the sale. After the auction was over, interested parties met and a deal was reached. The new owner wishes to remain anonymous, but Seinfeld said they've already taken delivery of the car. The comedian wouldn't comment on the final transaction price, but said it was in the $25 million range. So — he got his money, Mecum got a lot of attention, and a new owner got one of the most important cars in history. Sounds like a win-win-win. You Might Also Like You Need a Torque Wrench in Your Toolbox Tested: Best Car Interior Cleaners The Man Who Signs Every Car
