A rare Porsche Cayman stolen from Tingira Heights early this morning has been found dumped at West Wallsend.
The owner watched helplessly as the silver convertable was driven away from the front driveway of his home just before 7 o'clock.
Details of the car, valued at $120,000, were broadcast on radio and there were several sightings of the vehicle around northern Lake Macquarie.
The Polair helicopter was brought in to assist with the serach and the car was found abandoned off O'Donneltown Road just before 10am.
It's believed there were several suspects in the car and the dog squad has been called in to track them down.
Police say it appears the car has not sustained any significant damage.
