In a significant change of direction, the Stuttgart-based company stopped making its tractors in 1963 - the same year it started production of its now legendary 911 sports car.
Yet the 120-horsepower two-cylinder bright red tractors with the distinctive engine cover had by this time built up a loyal customer base for the great performance they consistently demonstrated.
Between 1950 and 1963 around 120,000 were produced. It is thought around half of them are still to be found, if not in pristine condition.
Restored examples can now fetch up to €18,000, the Frankfurter Rundschau newspaper said on Wednesday, but even bashed up ones are still worth a lot - and their value is rising.
"A few years ago you could get one found in a shed that was half-way drivable for €2,500, but now you would have to lay out at least €3,500 for one that can move on its own," enthusiast Winifred Urner told the paper.
Now the Porsche-Diesel Club Europa (PDCE) has 900 members, who between them own around 5,000 of the red tractors, club president Harald Stegen told the paper.