Porsche Overtakes Ferrari as Million-Dollar Car of the Moment

This month, as car enthusiasts converge on Florida for two weeks, they’ll find 14 Porsches with estimates straddling the $1 million mark—two more than the dozen Ferraris with the same distinction and far more than any other brand among the 405 total lots being offered across three auction houses. Million-dollar Porsches are creeping into the elite pricing echelon that Ferraris once dominated at significant auctions around the globe.

The increase reflects collectors’ desires and financial ability to build significant collections around one favored brand, says Steve Serio, a Boston-based automotive broker to billionaires. Porsches have always been valuable—they just haven’t been as desirable as multimillion-dollar Ferrari GTOs, LMs and Testarossas. But Porsche is inching closer as an increasing number of buyers amass collections around the historic marque.