A Rare, Historic Porsche Racer Leads RM Sotheby’s New German Sale

The 24-year-old actor James Dean died in a car accident, colliding with a college student at a California intersection on the evening of Sept. 30, 1955. The car he was driving was a Porsche, but not an ordinary 356. It was a very streamlined 550 Spyder, nicknamed “Little Bastard” by the race-crazy Dean.

The 550 Spyder was an out-and-out racer, but the kind that owners could register and drive to and from the track in those days. The open-topped Porsche was made for only three years, from 1953 to 1956, and although they were very successful in competition, only 90 were produced. The mid-mounted “Carrera” engine in the 550 had four overhead camshafts and dual ignition. With twin Solex carburetors, it produced 110 horsepower. That wasn’t a lot, but the 550 Spyder was a very light car, just 590 kilograms (1,300 pounds).

An example of the 550 Spyder, from 1955 with colourful racing history, is one of the cars that will be sold by RM Sotheby’s in an auction by Lake Tegernsee, about 40 minutes south of Munich, on July 27. Also on the block is a pair of modern Bugattis, a rare Mercedes-Benz SLR McLaren Stirling Moss, and a 2006 Porsche Carrera GT. The auction is taking place in partnership with the new Concours of Elegance Germany in Bavaria, held July 22-27.

The only one: This 2010 Bugatti Veyron 16-4 Grand Sport “Soleil de Nuit” to be auctioned by RM Sotheby’s was built for the royal family of Kuwait.
RM Sotheby’s

This Porsche 550 Spyder, with coachwork by Wendler (which also had its hand in the 718 sport racing cars), was delivered to Portugal and competed in European racing circuits. Originally white with burgundy accents, the car was first owned by Fernando Mascarenhas, who achieved class podium positions in races at Barajas and Monsanto in 1955. The 550 then went to Germany that summer for the Nürburgring 500 Kilometers, but the race was cut short because of an accident.

The second owner was Cypriano Flores in 1958. Flores’ son eventually returned the car to Porsche, which did the mechanical work while Wendler restored the body.

Despite the racing, which often results in swapped engines and other components, the 550 still boasts its original chassis, four-cam Carrera motor, and gearbox. The car was restored by Porsche and its original coachbuilder, Wendler, in the early 1990s—and not driven since then. During the restoration, the car’s colour was changed to silver, and the interior from beige vinyl to black leather. The pre-auction estimate is €3.5 million to €4.2 million (US$3.78 million to US$4.54 million).

Also to be auctioned at Tegernsee is the aforementioned 2010 Mercedes SLR McLaren Stirling Moss, a virtually unused example with just 45 kilometres on the odometer. First shown in 2009, it was a tribute to the late racing driver’s win in a 300 SLR Mercedes at the 1955 Mille Miglia.

The auction SLR features a lightweight carbon-fibre structure and a supercharged, 5.4-litre V8 with 641 horsepower. A mere 75 Stirling Moss cars were built, and only offered to customers who already owned an SLR McLaren. Without a roof or windshield, the Moss edition was 200 kilograms lighter than the standard car. It could reach 62 miles per hour in 3.5 seconds. The pre-sale estimate is €3.2 million to €3.8 million.

The modern Bugattis include a 2019 Chiron Sport “110 Ans Bugatti” edition, one of 20. The odometer reads only 1,461 kilometres. It’s estimated at €3.3 million to €3.8 million. The other one is the 2010 Veyron 16.4 Grand Sport “Soleil de Nuit,” a one-off Veyron in two-tone black/blue metallic sold new to the royal family of Kuwait. The estimate is €1.5 million to €2 million.

The 2006 Porsche Carrera GT, one of just 1,270 of these race-derived high-performance cars, is also a low-mileage example in silver metallic with 35,698 kilometres showing. It’s powered by a 5.7-litre V10 engine and could reach 62 miles per hour in 3.57 seconds and had a top speed of 205 mph. This one was supplied to Porsche in Leipzig, and a succession of owners barely used it. In 2001, the Porsche benefitted from a major €27,000 service that included a clutch replacement. It’s estimated at €975,000 to €1.275 million.

Porsche collectors might also want to visit the Bonhams|Cars Quail auction during Monterey Car Week starting Aug. 16. The lots include a one-of-62 1971 Porsche 911 S/T (estimated between US$900,000 and US$1.2 million); and a 1993 959 “Komfort” model, one of six, estimated at US$1.5 million to US$2 million.

Luke Michel has already lived through two technology overhauls in his career, first desktop publishing in the 1980s and online publishing later on. But AI? He’s had enough.

So when his employer, the Dana-Farber Cancer Institute, made an early-retirement offer to some staff last year, the 68-year-old content strategist decided to speed up his exit. Before, he had expected to work a couple more years.

“The time and energy you have to devote to learning a whole new vocabulary and a whole new skill set, it wasn’t worth it,” he said.

It isn’t that he’s shunning artificial intelligence—he is learning Spanish with the help of Anthropic’s Claude. But, at this point, he’s less than eager to endure all the ways the technology promises to upend work.

“I just want to use it for my own purposes and not someone else’s,” he said.

After rising for decades and then hovering around 40% in the 2010s, the share of Americans over 55 years old in the workforce has slipped to 37.2%, the lowest level in more than 20 years.

The financial cushion of rising home equity and stock-market returns is driving some of the decline, economists and retirement advisers say.

But for some older professionals, money is only part of the equation.

They say they don’t want to spend the last years of their career going through the tumult of AI adoption, which has brought new tools, new expectations and a lot of uncertainty.

Many people retire when key elements of their work lives are disrupted at once, said Robert Laura , co-founder of the Retirement Coaches Association and an expert on the psychology of retirement.

“Maybe their autonomy is being challenged or changed, their friends are leaving the workplace, or they disagree with the company’s direction,” he said.

“When two or three of these things show up, that’s when people start to opt out.”

“AI is a big one,” he adds. “It disrupts their autonomy, their professionalism.”

Michel, whose work required overseeing and strategizing on website content, has been here before.

When desktop publishing arrived in the 1980s, he was a graphic designer using triangles and rubber cement.

The internet’s arrival changed everything again. Both developments required new skills, and he was energized by the challenge of learning alongside colleagues and peers.

It felt different this time around. “Your battery doesn’t hold a charge as long as it used to,” he said.

He would rather spend his energy volunteering, making art, going to operas and chairing the Council on Aging in North Andover, Mass., where he lives.

In an AARP survey last summer of 5,000 people 50 and over, 25% of those who planned to retire sooner than expected counted work stress and burnout as factors.

About half of those retired said they had left work at least partly because they had the financial security to do so.

In general, older Americans are less likely than younger counterparts to use AI, research shows.

About 30% of people from ages 30 to 49 said they used ChatGPT on the job, nearly double the share of those 50 and older, according to a 2025 Pew Research Center survey of more than 5,000 adults.

Baby boomers and members of Generation X also experienced the sharpest declines in confidence using AI technology, according to a ManpowerGroup survey of more than 13,900 workers in 19 countries.

“We as employers aren’t doing a good enough job saying (to older workers), we value the skills that you already have, so much so that we want to invest in you to help you do your job better,” says Becky Frankiewicz , ManpowerGroup’s chief strategy officer.

Jennifer Kerns’s misgivings about AI contributed to her departure last month from GitHub, where the 60-year-old worked as a program manager.

Coming from a family of artists, she said, it offends her that AI models train on the creative work of people who aren’t compensated for their intellectual property. And she worries about AI’s effect on people’s critical-thinking skills.

So she was dismayed when GitHub, a Microsoft-owned hosting service for software projects, began investing heavily in AI products and expecting employees to incorporate AI into much of their work. In employee-engagement surveys, the company had begun asking them to rate their AI usage on a scale of 1 to 5.

When it came time to write reports and reviews, colleagues would suggest that she use ChatGPT.

“I’d be like, ‘I have no idea how to use that and I have no interest in using AI to write anything for me,’” she said.

It would have been more prudent to work until she was closer to Medicare eligibility, she said. But by waiting until her children were out of college and some of her stock grants had vested, the math worked.

Her first act as a nonworking person: a solo trip to Scotland, where she took a darning workshop and learned how to repair sweaters.

“The opposite of AI,” she said.

Employers already under pressure to cut workers—such as in the tech industry—may welcome some of these retirements, said Gad Levanon , chief economist at Burning Glass Institute, which studies labor-market data.

“The more people retire, the fewer they have to let go,” he said.

Some of the savviest tech users are also balking at sticking around for the AI upheaval. Terry Grimm, who worked in IT for 40 years, retired from his senior software consultant role at 65 last May.

His firm had just been acquired by a bigger firm, which meant learning and integrating the parent company’s AI and other tech tools into his work.

Until then, Grimm expected he might work a couple more years, though he felt that he probably had enough saved to retire.

“I just got to the point where I was spending 40 hours at work and then 20 hours training and studying,” said Grimm, who has since moved with his wife from the Dallas area to a housing development on a golf course in El Dorado, Ark.

“I’m like, ‘I’ll let the younger guys do this.’”

A Rare, Historic Porsche Racer Leads RM Sotheby’s New German Sale

Their careers spanned the personal computing, internet and smartphone waves. But some older workers see AI’s arrival as the cue to exit.