THINK BACK (if you can) to 1987. What would $160,000 have bought? A house. That’s what was paid for this missile.

Around 1986-87, Porsche’s sleek 928 underwent a number of changes, including subtle styling alterations, and an upgrade from the 16 to 32-valve V8. The exact details varied according to which market (and even which month) you’re talking of, but some like Australia received this interim car between the S2 and S4.

Ian Creak from Pennant Hills Auto Trader neatly describes it as an S4 in S2 clothing – which is about right.

The front-engine project launched in the late 1970s and, in theory, was meant to be the future of the company.

Porsche had reservations about sticking with air-cooled engines and rear-engined chassis. However customer demand pretty quickly changed the corporate direction and the front-engine series battled on as a second model line.

Though overlooked for some years, these cars are very much back on the collector radar, though the prices are still a long way from getting as silly as what’s being asked for air-cooled 911s.

The mechanical package in this one is a 289hp engine with an upgraded auto transmission. It’s a locallydelivered car with all the books and tools and we’re told the servicing is spot-on.

What really got our attention, though, is the mileage: a mere 68,000km.

At $48,990, we see it as a tempting offering, either as a driver or sparingly-used collector piece.

1986 PORSCHE 928 S

ENGINE 5.0lt, 32v V8 POWER 215kW @ 6000rpm TORQUE 420Nm @ 3000rpm TRANSMISSION 4-speed auto WEIGHT 1590kg dry TOP SPEED 250km/h PRICE $48,990 ON SALE at Pennant Hills Auto Traders