Ferraris on line has a new listing https://www.ferraris-online.com/pages/carintro.php?reqcardir=FE-512TR-90817 Holy cow! This would be considered a bit high milage at 21k This, too me, seems a huge Asking price for a car they, arguably, made close to 10'ooo of. Right now I know of, have seen advertised and or possible looked at, at least 25 Testarossa's for sale - a few are sitting around dealer showrooms with few offers. Others seem to sell. BTW all the cars I mention are similar condition I.e. Recent services, under 25k milage etc etc Why haven't I bought one? That's another subject....... . I can't help but wonder when the party will end? I understand some cars will always be worth a lot of $$ but here are other cars that seem to be part of a crazy feeding frenzy, (read Porsche) Egged on by overly happy bidders, out to prove something, at auctions.
A 512 TR is a 512 TR not a TR, not a 512 M and so there are 2.280 cars ever made! And if i look at the aircooled Porsche market which a much higher number of cars the prices are also very high!
Sheehan has told us repeatedly these car are never going to amount to anything. He should 'come out' in Forza, his website, and his market letter that he was WRONG. MAN UP BROTHER!
Wow - $300K for a 92 - 512TR. Even if it gets $250K I would think that is raising the bar for an early 512TR with higher mileage(21K).
Yes, bunching together all production of similar TR + 512TR + F512M and quoting 10.000 cars makes no more sense than bunching together all 30 years production of similar air-cooled 911's, i.e. going from the mid sixties to the mid nineties! When I bought my 512 TR, I was not in the market for a Testarossa...
For those people out there whinging these cars have gone up too much in value I would make the argument they were too cheap 2 years ago and played a quick catch up. The 512Tr is a gorgeous, wonderful machine and there are a limited number of mid engine 12 cylinder Ferraris out there. Frankly the people complaining about the increase in values are just upset they did not buy one. As long as equity markets remain buoyant and global economies hold up the prices are not going to soften. Here in Japan 512TRs are stupid cheap at under 100K for almost every one available. If it is worth less than that I will be surprised. And it looks like Japan has the cheapest ones available globally.
That's the first thing that came to mind. He's not, or at least was not, a fan of the TR. I guess money has no prejudice
For those interested, see similar thread in 308/328 section undervalued or overpriced, that's the question. Cheers, Frank
It's been all discussed in the 308 section. He's a salesman and sell what customers want to buy. He makes a living selling cars for a profit.
What is it about that, that is so hard for people to understand? Mike has an opinion....he states it unambiguously. How many sales people tell you what they really think instead of what you want to hear? I find it refreshing actually. Mike also sells cars. He makes his living at it so he does so for a profit. Market goes up despite what Mike predicts and he goes right along with it. I fail to understand why so many don't get it?
He is only wrong if the prices are sustainable. Weather forecasters, stock forecasters, car market forecasters and every sports coach and play caller are wrong every day about something. As Tony La russa when he was still with the Oakland A's once said "If I am right 51% of the time I am a hero". Man up and get over it.
I hope you were not quoting my comment as a negative one from me. I was trying to explain he's there to sell cars making a living and that is what car salesman are all bout. There was nothing negative about my post. It's his business!! And business is all about profit if you want to STAY in business. If you try the other way you will be in a situation called bankrupt which has been said by another poster.(crallcars) But I guess any well known business get their naysayer. One thing I can say about him, His ads are the BEST I've ever seen. Professional pictures with complete text and known history. Easy to see he's a writer. He knows how to do it right and something properly presented sells.
Your assumption is good. Thanks to let me know. As a note: I use to be and still a very big fan of the Countach(before the anniversary) and use to think the Testarossa were ugly and looked like a french cancan dancer with all the frills(strakes) just like the 25thAnni. CT. I now own one and I love it and proud of it. ( I still don't like the 25th CT)
hmm, maybe it isn't slowly rising "correct" pricing that creates a bubble that pops, but greedy dealing like Sheehan and Rock asking ridiculous pricing. You can fill a balloon pretty full slowly, but easy to pop overinflating quickly with hot air.
We see asking prices. We never see selling prices but many here assume they are the same. In a volatile market they are often vastly different. When you sell on consignment often the owner dictates the price. It can often take some time to make them see the light. Everyone wants a home run.
I don't think anyone assumes selling and asking is the same. The problem is in this market some are asking so far beyond selling prices, just seems sleazy.
Car sales sleazy?? Say it ain't so. There are a lot of things in business I consider sleazy. Asking too much money isn't one of them. I have never had a problem walking away and last I heard Mike has never been accused using of a gun to make a sale. The market will dictate the price that car sells for, not Mike.
Supply and demand will dictate the price, not greed- you of all people recognize that better than anyone. I guess you could be greedy and double your pricing for your sponsors and users, but if fchat grew in subscription and the sponsors paid for it, it's not called greed if you could pull it off it's called the "market" , anyone begrudging you of making that work is just jealous they didn't think of it first
for all the people not on FerrariChat it could be considered market manipulation. I just think its sleazy to ask unreasonable prices. Someone that does that are they also unreasonable in other parts of their business? Just makes me wonder, we're not talking about pushing the market 10-20%, we're talking about 50-100%.
