I think less than a few hundred 512TR were manufactured during 1991, they were being stockpiled ahead of a 1992 launch.
2 have sold at Mecum the last 2 days in addition to the Bonhams one above (@PineChris) 86 - $145k all in 87 - $132k all in 3 others high bid to $110k, $130k, and $165k at Mecum (one can form their own opinions about that)
88 at Rick Cole has been bid to $130k (auction ends at midnight or after if more bids come in) - red on tan - 7k miles - luggage - but no major service since 2011
$150,000 hammer for 1990 Ferrari Testarossa @ gooding 4,500 miles. first in class @carmel concours 2015, guide $225,000-$275,000
yes, prices are off 40%-50%. In 2015 a perfect low mileage testarossa sold for $275,000-$300,000, speculators are no longer buying but have turned sellers, only buyers are now enthusiasts.
"No way" Disagree, all we have to have is a recession and they drop 50% over night. They are already down nearly 30%, every dealer I talk to won't buy one and can get good ones 30k miles in the 120's all day wholesale I'm told. A few dealer who bought high are holding out for the prices 6 months ago. Party is over.
Looks like the 92 512TR blk/blk with 12kmi pulled $205k, which is still a strong number IMO. The estimate was $250-$275k. Anyone do a walk around on it?
i personally don't think great examples are being bought or sold through the dealer wholesale network.
Well things might get interesting now, cars as investments lol. I'll bet the air cooled Porsche market is gonna get hit very hard especially 993s which prices are insane. 993 is a good car but not rare or special like a Boxer or TR which far less were made Over $200k for a 993TT is nuts What's happening here is typical called a double top in the stock world the investors that thought there was a buying opportunity with this dip are jumping in but you are also seeing lower dips. Once these last chance investors dry up should see a big fast drop in prices
In my experience I have seen lots of great examples at dealers. Many of the great 512tr's have done the full wholesale circuit, from dealer to dealer. IMO dealers are almost solely responsible for this appreaction the past few years. Currently the cars are also not selling, they all played musical chairs with the cars and many now are stuck without a seat / or with the car. Ferrari of New England started this years ago with the super cars - running up prices on f40's - Enzo's, always asking 200k more then the market. Getting it the then moving it up again. Then it was the special limited cars - then it was the tr's etc, they even tried to do it with 348's. Marshall Goldman, AIG, Naples M, Copley, etc, etc and many Ferrari authorized dealers participated in this activity over the last 7-8 years. Party appears to be over. I'm thrilled as I think I'll perhaps I can own some of my favorite Ferraris again, and most importantly ENJOY them. I sold my 512 TR when it was worth 300k, didn't feel right driving it, same with my 550 and CS. I also got caught up in the appreciating cars And profited loosing sight of the hobby, however I hope these values coming down continues. I just want to enjoy the cars again and not have to spend a quarter of a million dollars on a production Ferrari to do it.
Well maybe there is a speciale in my future then. One thing I know, when speculators truly get the message it's dump city.
Whhhat?!? Well at least you self diagnosed your ill. If you know it's just a hobby why would you not feel comfortable driving it or any other car? I think people forget they are (dont mean to shock anyone) going to DIE and when you're close to the inevitable point of checking out of life - none of this stuff/crap really matters at that point. My wife doesn't care about cars and my collection will be eBayed or sold to a dealer when I'm gone if my kids don't want them. I happily just clicked 30k mi on my 512TR and routinely take it and my other cars to C&C events, the barber shop, home depot, and the like - often to the surprise of people at the local grocery store parking lot wondering why someone would drive an exotic just to buy ice cream...luckily my answer over the years has been "being fortunate and because I can".
That's great, that's how I drive my 360 spider stick and 95 355 GTB. I'm a young guy and didn't feel comfortable driving around in a car worth 300k, @ 40 years old I feel as I need to cash it in and buy stocks, RE, pay off long term RE debt or purchase some other long term investment. That's my philophophy and how I run my financial house. If my net worth was 10x what it is I'm fairly certain it wouldn't bother me tooling around in a F40 I have talked to SO MANY others that felt like the increased values of their cars took the fun out of enjoying them. All different age groups and demographics. I personally can't stand driving around a car or parking a car that I worry about, and that was happening. I'm sure I'll feel differently as I mature.
Perfect!! + 1,000 The whole bit about 'Being Caretakers for the Cars' is sooo true! It's a shame, but not surprising that really wealthy La Ferrari owners etc limit driving their cars because they depreciate the cars from mileage. My father loved driving and taking care of his cars. He'd say, "When I wear out the floor mats, I'll replace them". I now realize the depth of that statement.
