Autoblog and Yahoo may earn commission from links in this article.Gunther Werks reimagines the air-cooled Porsche 993 the way Singer does the 964, and the 400R is its naturally aspirated masterpiece. This is chassis number one, the "Chelsea Grey Commission," the first of just 25 built and finished in Sport Touring specification. It is on Bring a Trailer at $500,000 with nine days to go, and that early figure understates where this rare coachbuilt Porsche will land.1996 Porsche 911 Gunther Werks 400RBring a TrailerWhat it's worth right nowThe Gunther Werks 993 sits in the rarefied air of top-tier coachbuilt Porsches. According to Classic.com, these cars have traded to a high of $1,501,000, with a low of $932,666 for a Speedster, placing quality 400Rs generally in the $950,000 to $1.5 million range.AdvertisementAdvertisementThis car's status as chassis number one, its Sport Touring specification, and its Rothsport 4.0 engine are genuine strengths. Weighing against that are the mileage inconsistency and title considerations detailed below, and its history: it was bid to $1,150,000 here in October 2023 without meeting reserve, then offered at RM Sotheby's Miami in 2024 with a $1.0 to $1.3 million estimate.1996 Porsche 911 Gunther Werks 400RBring a TrailerWeighing the pedigree against that history, fair value realistically lands in the $900,000 to $1.2 million range, most likely around $1.0 to $1.1 million. At $500,000 with nine days remaining, the bidding is an early placeholder and should climb toward that band.Condition and detailsThe car is a fully sorted, extensively documented build. Its carbon-fiber body is finished in Chelsea Grey with ghosted stripes over red leather, and power comes from a Rothsport Racing-built 4.0-liter air-cooled flat-six with individual throttle bodies and MoTeC management, driving through a Getrag G50 six-speed. It rides on JRZ coilovers with Brembo carbon-ceramic brakes and a hydraulic front lift, debuted at The Quail in 2018, returned to Gunther Werks in 2022 for an interior refresh and suspension and lift updates, and received nearly $9,000 in Gunther Werks service in 2026.1996 Porsche 911 Gunther Werks 400RBring a TrailerTwo points deserve real attention at this level. The five-digit odometer shows 2,900 miles, but the Carfax notes a mileage inconsistency in April 2020 and total chassis mileage is unknown, so treat the figure as shown and understand the underlying 993 chassis has an unknown total. And the car is titled in Montana under the seller's LLC while located in California, where it has not passed an emissions test in its current configuration, so a California buyer in particular should understand the registration and smog implications.1996 Porsche 911 Gunther Werks 400RBring a TrailerTwo more notes: a Gunther Werks is a coachbuilt reinterpretation rather than a factory Porsche, so its value is set by the Gunther Werks market, not stock 993 values, and running and service costs are bespoke, as the roughly $9,000 recent service suggests. The car has also passed through several owners and auction listings, so review the ownership and mileage history carefully alongside a specialist inspection.1996 Porsche 911 Gunther Werks 400RBring a TrailerAdvertisementAdvertisementThe offerSpecificationDetailMakePorscheModel911 Gunther Werks 400RYear1996Mileage2,900 miles shownEngineRothsport-built 4.0-liter air-cooled flat-sixPowerNot specified by the sellerTransmission6-speed manualDrive typeRear wheel drive with limited-slip differentialExterior colorChelsea GreyInterior colorRed leatherCurrent bid$500,000, with nine days leftInterested in this 1996 Porsche 911 Gunther Werks 400R? View the listing here.What makes the Gunther Werks 400R uniqueGunther Werks, founded by Vorsteiner's Peter Nam, set out to build the air-cooled GT3 RS that Porsche never made, taking the final air-cooled 993 and reimagining it with obsessive attention to detail. Each car is stripped to its steel unibody, seam-welded, and rebodied in carbon fiber, then fitted with a bespoke Rothsport Racing flat-six enlarged to 4.0 liters with individual throttle bodies. The 400R is the naturally aspirated coupe, and this Sport Touring example wears a subtler ducktail spoiler in place of the big wing, emphasizing elegance over aggression. Just 25 were built, and this is number one, the car that debuted the model to the world at The Quail.1996 Porsche 911 Gunther Werks 400RBring a TrailerThat blend of extreme rarity, coachbuilt craftsmanship, a screaming naturally aspirated air-cooled engine, and genuine provenance is what places the 400R alongside Singer at the very top of the restomod world. Many enthusiasts, as the comment section shows, would take it over a Singer for its sound, looks, and value.My takeThis is a halo car, and chassis number one carries obvious significance. The 400R is one of the most desirable coachbuilt Porsches in existence, and this Sport Touring example combines the elegant ducktail look, the spine-tingling Rothsport 4.0, and the distinction of being the very first built and Quail-debuted. It is the kind of car that anchors a world-class collection.AdvertisementAdvertisementFair value sits in the $900,000 to $1.2 million range, and the 2023 no-sale at $1,150,000 frames the reserve conversation, so expect strong bidding well beyond the placeholder figure. The essential diligence at this level: review the mileage inconsistency and full ownership history, understand the Montana title and California emissions situation before you buy, and commission a specialist inspection. Handle that, and you own the first of one of the greatest air-cooled reinterpretations ever created.Disclaimer: This post is for informational purposes only. We are not a dealership or broker. All vehicle specifications, pricing, and availability are subject to change without notice. We are not responsible for typographical errors, omissions, or the accuracy of the provided information. Please verify all details directly with the seller.Autoblog aims to feature only the best products and services. If you buy something via one of our links, we may earn a commission.This story was originally published by Autoblog on Aug 19, 2026, where it first appeared in the Car Buying section. Add Autoblog as a Preferred Source by clicking here.