A classic 1964 convertible sports, Porsche 356C Cabriolet, recently sold for $330,000 at an auction in Adelaide, Australia on Sunday. The vintage vehicle, obviously without Bluetooth, climate control, or airbags, was sold for the price equivalent of an apartment at auction, proving once again that classic cars are valuable investments. In this case, the car demanded the hefty amount primarily because it boasts the badge of the world-famous car manufacturer Porsche.

The classic convertible sports car is in rare mint-condition. Not surprisingly, it was the subject of intense bidding before finally going to a Queensland man who phoned in his bid. The car was one of 11 cars auctioned in Adelaide by du Plessis International attended with about 100 car buyers and enthusiasts.

Aside from the 1964 Porsche 356C Cabriolet, the auction included classic 1923 Belgium built Minerva (sold for $210,000), three Ford Mustangs and a 1970 Plymouth Roadrunner. Auctioneer Mark du Plessis was “very happy’’ with the price fetched by the Porsche Cabriolet. He explains that buyers of this kind of scope are definitely car enthusiast who he believes will have a lot of fun with their bought items, The Advertiser reports.

He adds that cars of this rarity and quality in an auction in South Australia is very rare. Oftentimes, buyers of classic cars are driven by “passion. He advises interested buyers that there is a lot of emotion involved in cars but they also make a good investment if you pick the right one.

Just last January, in Fort Lauderdale, Florida, a collection of classic Porsches were placed for auction in celebration of Auctions America’s 15th anniversary, the Motor 1.com reports. 26 vintage vehicles spanning 48 years of Porsche production was on display, including the 356 1600 Speedster owned by Nicholas Cage. That one had a price tag of going anywhere between $275,000 to $325,000, making it the most expensive car of the lot.