This lot will be auctioned via Iconic Auctioneers, The Iconic Sale at Silverstone Festival 2025 - Collectors Cars on Saturday the 23rd of August, The Wing, Silverstone Circuit, NN12 8TN. Unveiled at the 1977 Geneva Salon and awarded 'European Car of the Year' for 1978, the Porsche 928 was designed to succeed the 911 with a more refined, front-engine, V8 GT concept. The early 4.5-litre V8 cars evolved steadily, gaining power and refinement through the 928 S and S2 and eventually into the more modern S4 by 1987. However, a short lived but particularly desirable variant sits between the S2 and S4, the so-called 1986.5 model, which represents the best of both eras. This Guards Red example, supplied new by Swinford Porsche and first registered on 8th August 1986, is one of the few rare cars often referred to by marque specialists as the 'S2.5'. Built on 25th October 1985, it features the improved engine, transmission, suspension, exhaust and four-piston Brembo brakes of the later S4, while retaining the classic and uncluttered early body style, simpler electrics and the lighter feel of the S2. With only 893 manual 928s built for the UK and just 410 being S/S2 models, it’s thought fewer than 25 UK, right-hand drive examples survive in this 1986.5 configuration. Finished in Porsche’s iconic Guards Red with black leather interior and red piping, this car was specified from new with a rare and desirable combination of options including manual gearbox, limited-slip differential, wide-track rear axle, sport shock absorbers, sports seats with electric height adjustment, recoil bumpers, top-tinted windscreen and the high-fidelity speaker system with factory amplifier. Notably, it is a non-sunroof car, a purer and rarer configuration, sought after by collectors. The comprehensive history file includes its original leather-bound book pack containing the driver’s manual, stamped service book (20 stamps up to 2017), Porsche correspondence and ownership guide. A Porsche Certificate of Authenticity confirms the factory specification and original supply dealer. In 2021, over £5,500 was spent on mechanical works with marque experts, 928 Specialists Ltd. Previously owned by a known collector and enthusiast and purchased by our vendor through Iconic Auctioneers in 2020, this well preserved, low-mileage and extremely rare 928 offers an ideal opportunity to acquire one of the finest examples of the classic bodied 928s, regarded by many as the 'GTS' of the early cars. Fewer still combine this level of originality, mechanical condition, service provenance and desirable factory options.