Auctions featuring classic sports cars in mint condition fetching sky-high prices aren't unheard of, but the 1976 Porsche 934 that's set to sell for up to $1.6 million at the Gooding & Co's auction early next month is particularly special. Not only is it one of a mere 31 units ever built, but this red-hued example is officially the first 934 to roll off the production line. It's these kinds of details that really set apart one classic from another.

Designed as a Group 4 GT racing version of the Porsche 911 Turbo (930), the 934 was fitted with a 485-horsepower flat-six turbocharged engine, enough to hurtle it to 100 mph in just 12 seconds and max out at almost 190 mph, phenomenal times for the era and still impressive today.

The 934 doesn't look dramatically different to the regular 911 of the time, although the bigger front air dam, unique BBS wheels, and wider fenders do stand out. Under the classic 911 bodywork, the 934 featured an aluminum roll cage and a rear coil-spring suspension design. The specific 934 set to go on sale here wasn't just locked away and preserved, but actually nabbed a third-place finish at the 24 Hours of Le Mans race in 1979. It finished in 19th place overall in the same race.

The lucky buyer at next month's auction will also be happy to know that the 934 will be sold with a comprehensive documentation file. The memorabilia includes correspondence with prior owners and period photographs of the car's long, colorful life.

It's finished in Indian Red and remains in excellent condition following a restoration nearly two decades ago. With five total owners, the latest custodian of this classic Porsche has had it since 2003. The auction is set to take place in Amelia Island, Florida on March 6. With its incredible rarity and the novelty of being the first-ever 934, it's anticipated to sell for between $1.25 and $1.6 million - looked at another way, it's the equivalent of around nine brand new Porsche Panamera Turbos.