1986.5 928S 5-Speed

The 1986.5 928 S marked a meaningful mid-year update and a clear step toward the later S4. While the 5.0-liter 32-valve V8 had already arrived for 1985, the “.5” cars introduced the upgraded suspension and Brembo braking system that would carry into the S4. The result was a more composed and capable car, bridging the earlier S models with the more modern driving dynamics of the final 928s.

Originally listed as a 1986, commenters quickly pointed out this 928 5-Speed was in fact an ’86.5 car. Finished in Black over Black leather and showing 88,000 miles, it was acquired by the seller in 2024 and subsequently saw an extensive round of service. Work included a fuel system overhaul along with replacing the clutch master cylinder, steering rack boots, A/C compressor, thermostat, crankshaft position sensor, oil pan gasket, drive belts, valve cover and intake gaskets, vacuum hoses, and more.

Over the past twelve months, 928 S values have averaged $21,400, with a low of $7,600 and a high of $42,161 for a 32,000-mile White Gold Metallic example. Comps put our Spotlight Car in the $14,800–$34,100 range, and it landed right in the middle, selling at a final bid of $26,750.

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