It’s hard to believe the first-generation Porsche 996 GT3 (commonly known as the 996.1 GT3) is now 23 years old. Indeed, the hardcore version of the 996 was a homologation model designed to meet FIA standards for racing. Demand for the track-focused 911, however, was overwhelming and later turned Porsche to develop the extreme Renn Sport editions. The original GT3 was, no doubt, a game-changer.

Launched at the Geneva Motor Show in 1999, the 996 GT3 was not only the first water-cooled GT3 but also the most powerful naturally aspirated 911 at the time. Interestingly, the 996 GT3 was the first production Porsche to complete a lap of Germany’s Nurburgring circuit in less than eight minutes, by racing legend Walter Rhorl. What’s more, the competition version of the GT3 won the 1999 Le Mans 24 hours for its class.

Porsche only built around 1858 units of the 996.1 GT3, which makes it a rare machine, even more so than the facelifted 996.2 GT3 that arrived four years later. Moreover, only 30 percent of GT3s built came with the more sought-after Club Sport package that added further race car enhancements, though not sold in the US.

No doubt, the 996 GT3 is already a modern classic and is still regarded as one of the best analog 911s of its time. It’s true to say, prices of early versions are escalating. According to classic.com, the average price of a used 996.1 GT3 is around the $80,000 mark. The GT3 Club Sport is more desirable and commands around $30,000 more. The…