85-86 Flying Mirror prices | FerrariChat

85-86 Flying Mirror prices

Discussion in 'Boxers/TR/M' started by jgmblair, Jun 21, 2016.

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  1. jgmblair

    jgmblair Formula Junior
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    May 27, 2010
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    Winnipeg, MB Canada
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    Jeff Blair
    I see a few Ferrari dealers have acquired these early cars and are offering them for sale at what could be considered "high" prices. Ferrari of Quebec has an early car offered at $325k cdn and Ferrari of Central New Jersey have a couple for sale at $225-$240k usd. Auction Americas also has one this weekend in Santa Monica with an estimate of $180-220 usd. Being an owner of one of these cars I am a bit biased in thinking these cars are unique and therefore more desirable when comparing them to the rest of the production run. What are your thoughts on the current asking prices of these early cars and are the early cars seen by those in the "know" as unique and more desirable then the generic double mirror cars excluding the 512 TR and the M?
    Cheers!
     
  2. deichenb

    deichenb Formula Junior

    Apr 3, 2007
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    David
    #2 deichenb, Jun 26, 2016
    Last edited: Jun 26, 2016
    I was on the phone with RM for this car, a 1986 Monospecchio Testarossa lot 1051 at Auctions America Santa Monica 2016 c/n 65813.

    It was a very nice car, documented 2-owner history, consistent Algar service records back to new, Classiche Red Book, and a 2014 FCA Platinum. Complete with Platinum-level books and tools. 18,500 miles supported by the extensive service history.

    The high bid was $150, minus the seller's commission, which the consigner likely negotiated to 2-5%.

    The seller passed, and the car was a no-sale.

    So today's result valued this award-winning, Classiche-certified, full-history Monospecchio at $142.5-$147 net to the seller. At least for now.
     
  3. ChipG

    ChipG Formula 3

    May 26, 2011
    1,722
    Santa Monica, CA
    I was there in the front row.

    The car did NOT sell, no hammer. I have been in the biz for 25 years, I can assure you 9 times out of 10 the vehicle owners friends bid it up right below the reserve.

    It was a nice car but don;t buy into the BS
     
  4. deichenb

    deichenb Formula Junior

    Apr 3, 2007
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    David
    You are correct. It is important that the car was a NO sale. It may have been the chandelier bidding as well.

    So IF the bids were real, a top-tier Monospecchio was valued at $142.5-$147 net to the seller. At least for now.
     
  5. ChipG

    ChipG Formula 3

    May 26, 2011
    1,722
    Santa Monica, CA
    Bids were not real.
     
  6. 355dreamer

    355dreamer F1 World Champ
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    Apr 3, 2006
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  7. Dave rocks

    Dave rocks F1 World Champ
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  8. ross

    ross Three Time F1 World Champ
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    all prices slightly on the decline.
    which means that the least performant, least good looking cars will drop first despite whatever the owners might be hoping their 'rare' model might bring.

    the mono spechio was an aberration, a mistake that was rectified. rare for a reason. so i am not surprised by these auction results.
     
  9. cnpapa24

    cnpapa24 F1 Rookie

    Jan 19, 2014
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    Wow, David. I'm surprised to hear this was a platinum car. It seemed very nice but I wouldn't have guessed a platinum example.
     
  10. deichenb

    deichenb Formula Junior

    Apr 3, 2007
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    David
    It did indeed win a Platino in 2014 in Virginia: http://www.ferrariclubofamerica.org/index.cfm/ID/201/FCA2014AnnualMeetAwards

    Remember, Platino was "easier" then at 95 points vs 97 today. I did not see the judging sheet on the car and I did not judge Class 4 in 2014.

    Glad you laid eyes on the car though. Platino condition does require care and feeding, and maybe the car needs a sprucing up 2 years later.
     
  11. cnpapa24

    cnpapa24 F1 Rookie

    Jan 19, 2014
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    Yes, I was in LA on Thursday so I spent a couple hours looking at a few of the cars. I didn't spend a lot of time going over the paintwork, but seemed like a very nice car overall. If the documentation is in order, it's probably worth a closer look.
     
  12. Sandy Eggo

    Sandy Eggo F1 Rookie
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    Jun 4, 2009
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    The market is not defined by one data point from one moment in time.

    The single mirror has a lot going for it.

    - It's the original.
    - It's unique and fewer were produced.
    - Many think it's better looking that later generations. Beauty is in the eye of the beholder.
    - It's the type used on Miami Vice and *forever* burned into a generation of potential buyers. Nostalgia drives prices as much as anything.
    - Nobody is buying a later Testarossa for the power bump. Not when a V6 Camry can probably blow it's doors off. Get real.
    - The later Testarossa (until the 512TR) had those f-ing stupid mouse belts, at least in the US. That's enough to keep me away from those years right there.
     
  13. Newman

    Newman F1 World Champ
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    Dec 26, 2001
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    I like the tubular arms and center nut wheels but I would buy an early 88 to get the low mirrors and center nuts with imperial rims. Miami vice means nothing to me when it comes to buying car. Should I buy a pastel suit and go sockless too? A Camry wont beat a testarossa with or without mouse seatbelts.
     
  14. PineChris

    PineChris Formula 3

    Apr 17, 2013
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    There is no doubt the market is on a decline. Not just for Testarossas, or Ferrari for that matter.
     
  15. Parnelli

    Parnelli Formula Junior
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    Interesting thoughts hereon the 85-86's. I have been doing a lot of due diligence on TR's lately and have been told by (very successful) collectors that I should be considering the 1988.5's thru 1991 for been appreciation potential.
     
  16. ross

    ross Three Time F1 World Champ
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    you are suffering from confirmation bias - you owned one so you think its great.
    - the mono spechio's are the same as the next one made with 2 mirrors. only the mirror differentiates them. they add nothing. its like preferring outside hinges to inside hinges on a 275gtb - basically nobody cares.
    - in 1 year the mousebelts wont make any difference since row models did not have them.

    beauty is in fact in the eye of the beholder as you say, just dont be surprised when the market falls.
     
  17. jgmblair

    jgmblair Formula Junior
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    Wow thats interesting, all I have read on this site for the past 6 years is that they made way to many testarossa's for them to be collectable and you have been told by "very successful" collectors that the 88.5's - 91's will be the ones to appreciate in value. I would think they probably made 4 or 5 thousand, 88-91 testarossa's and the "very successful" collectors feel these are the cars with the best potential to appreciate? Any insight as to why these collectors think this group of cars have the greatest appreciation potential?

    Cheers
     
  18. isaydingdong

    isaydingdong Formula Junior

    Apr 18, 2014
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    Everyone has an opinion, but collectors in general want the first or last of the production run
    I don't think and 88-91 has the collectors interest. Too many produced.
     
  19. Parnelli

    Parnelli Formula Junior
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    Just telling you what I've been told. These are guys who have absolutely no reason to BS me. What year is your TR??
     
  20. jgmblair

    jgmblair Formula Junior
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    May 27, 2010
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    I've got a late production 86 that has the imperial rims that Newman spoke of. I bought the single mirror car because it was the one that left an impression on me when I was 16. The single mirror is certainly fun to drive and people are intrigued by the mirror, I've never described the car as being an "aberration" :). I've spent the last 8 years sorting out my car including upgrading the fuse board the diff and doing a major with the help of this community. Knowing what i know now, if I were in the market to buy a testarossa to drive, I would certainly have someone who knows these cars very well give me their opinion. Good luck hunting if you are in the market to purchase one, it looks like there are some good cars to be had and the frenzy from last year has calmed.

    Cheers
     

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