Testarossa price still going down or up?

Mostly flat-lined with the possibility of some slight upwards movement depending on near term political events and international financial markets.

If cash remains tight, nobody is going to be willing to pay higher prices for a TR (or any Ferrari) if the general market is going to tank (again).

 

Its a good time to be a car guy.
I think the production numbers of the Testarossa will always keep the prices down. The engine out service is a deal breaker for many, and the looks are not for everyone.... This last depression has changed the way all of us spend money.
I suspect they will follow real estate and that is still gonna be a while.
Like, a long long while.

 

not just the TR, BB, 348, 355, 550, 456m all these cars are not moving - and you are absolutely correct, its a good time to be a car guy - 100k gets you alot of choices....gets you a awesome 308 restored (to a certain degree) - an almost new TR with no mileage, in a time capsule, gets you a BB, gets you a new 2013 shelby (less than a 100) - gets you a great haridresser designer car like a 360 spider....the boat loads of Corvettes in Z06, zR1, Vipers, Audi r8s ....endless options.

Its important to buy what you love and desire .... if you love the TR, then the service is part of the experience and ownership, same with a BB, or BBi, or a 355 - if you desire the TR .... only advice, dont always look for the bottom feeder price point on any of these....cause to fix them to get them to run right you will need alot of lubricant and deep pockets.

 

too add, those with no issue cars like myself will most likely never sell there TR for current prices. I would rather drive the wheels off of it , in the snow and the rain and do burnouts before i sell it at the rock bottom price point....since i wipe it with a diaper, and i have 61,000kms , and aging very well - i am not kidding myself of the offerings i would get for this car.

That being said, you can find a good deal, there are people that need to sell, or just had enough of the expensive ownership and a decent deal can be had...its all in your research , and talking to an owner that wants to sell...sometimes, an owner wants the car to go to a good home as well...those cars are worth paying a premuim for as they have taken care of the car.

 

If you do a completed auction search, even really nice cars with low openning bids arent even getting hits. If a guy with a well cared for car just needs to move some money, and his Testarossa is the only liquifiable asset at the time.... Someone is getting a nice car for cheap.
The one thing a Testarossa has going for it over most other cars is the "must have" factor that was planted in us 40 somethings when we were kids. If you remember back to when you first saw one in the flesh and how different and nasty it was..... And it still is. Dated nothing, its a gorgeous car. Period.

That should help prices eventually.

 

My only suggestion would be that your premise relies on Ebay auction prices as a market gauge.

All the condition 1 cars that I can personally vouch for, Testarossa or otherwise, have been sold privately or through dealers or brokers, none of them ever made an appearance on Ebay.

From personal experience, having the pleasure of owning what I perceive to be a condition 1 Testarossa, I can tell you that I bought my car for above Ebay prices, and from a Broker who had the car less than 5 minutes before I closed the deal. I hunted that car down like a stalker, because I know, as others have commented, that finding a truly fully sorted, condition 1, needs nothing Testarossa, is extremely difficult. Owners of these cars rarely part with them and you have to be ready to pounce when they do.

I spent years tracking mine down and I wouldn't sell it for anything approaching Ebay prices, because I know it would be impossible to find a car like this again.

Personally, I have received unsolicited offers well into the 70's for her and turned it down...and that was before she was Classiched and got her first Platinum at an FCA concours. So my experience has been that those in the know understand the value of top tier TR's...and they are not reflected in Ebay pricing.

The Testarossa has two markets, the Ebay dump where good Testarossas and bad testarossas mix, with the bad ones dragging down the prices of the good ones, and the collector market, where people who have always loved these cars...like myself... hunt for the best one they can find with quality being the first consideration and price being a distant second.

There are A LOT of unbelievable TR's in this forum and those owners wouldn't part with them for 50K if you put a gun to their head.
Just my .02, worthless as always

 

Joe, I totally agree with you. I believe they have bottomed out. The well sorted cars are selling in the 70's. Anything in the 50's range has a story and is in need of work. 512TR's will eventually go up as there are fewer of these in the market.

 

What is the average price on the 512tr?

 

15-20k more than an equivalent TR.

 

I think that if anyone is thinking of purchasing a ferrari, I hope they choose a Testa. For myself, its up there with the 288 GTO and the Ferrari F40, regardless of the higher testa production numbers. When I see a testa, and see something that shockingly beautiful and amazing, and I cuold only compare it styling as extreme as the Enzo. Nothing like it out there. Way ahead of it time for styling.

 

you are totally correct, I am using Ebay as a yard stick only because private deals are unknown. I know, I have done lots of private deals with my cars and sometimes get way more than market value... especially if a trade is involved. But for this argument, I can only use the readily available and easily searchable ebay archives. Some ebay cars are private owners, some are dealers and brokers. Not all of them are problem cars, many are super nice.
I'm just saying that in my worthless opinion, even a totally perfectly sorted number 1 car would go for low money right now if the seller found himself in a tough position in his personal business, or if he needed to raise money to help a friend.

Yes, there are lots of TR's that are not for sale at these prices, but god forbid, you NEED to sell it, I'm afraid its going to be at a bargain price. For a while still. Im not totally sure, like housing, its at the bottom.

 

+1 to all of the above.

Price ref wise, i got a private deal 512TR for 78k ( it has 10k miles). Bought it knowing it needed a major (another 6 k, not counting exhaust mods etc), so ill be into it for 85k w/o mods and 90k w/ mods as i plan a fuse box and connector kit this winter. It has service records but no major, but after a solid PPI im rolling the dice a little bit, but not too bad. It was owned by same old guy since 96. Back then i bet he paid 150k for it as it only had 4k miles and was a 4 yr old car.

Previous to finding this one, i was ready to spend over 100k on a 3k 512tr in florida or a 6k car in texas both had majors i believe. Both at dealers.

The numbers being discussed here are accurate based on my recent research for my own purchase.

 

That sounds like a pretty good buy on the car - but I would just bet that major ends up to cost around 10K once you get into everything found when the engine is out.

 

I will be sorely disappointed if your car only fetches 70K.

I know it is always a question of getting the right bidders in the room. L&rd knows, auctions are unpredictable and you never really know what is going to happen until you feel the temperature in the room.

HOWEVER, think about this for a second...You actually have what I would argue to be the nicest single mirror TR in existence. There is no other car that I am aware of that has its provenance combined with a recent and extensive service with such exceptionally low mileage.

If ever there was a gauge of what the ceiling of the early TR market should look like, it is this car at this auction. Of course, I would really like to see it at an auction more focused on the Marque, but still, this should be exciting.

I wish you the best of luck!! I will be watching this closely.

 

Hi Joe,

Thanks for your note. For those scratching their heads wondering what the heck Joe is talking about - apparently my earlier post was deleted (god knows why). The thrust of the matter was that my '86 TR will be auctioned in Monterey this August.

A rising tide lifts all boats. I hope that my car will set the bar high and inch the market upward for future sellers. If that '90 TR at Mecum ($101k) recently is anything to go by then it should be interesting to watch this August.

Best,
Rick

 

Well, my "exhaust mods" have just become necessary mods because upon removal of the engine, the one cat was found to be plugged. So my 4k worth of cat delete pipes just made it to the "has to fixed as part of major" and knocked it up to 10k!

But seriously, i know what u really mean...im sure odds and ends will turn up and im prepared for it. Years of aircraft ownership has prepared me well for conversations with mechanics that leave me doubled over, gasping, while the mechanic gets his 3rd childs college fund of to a bracing start...

 

My dad is looking for a pristine 512TR....

Anyone know of where is the best one for a great price?

Doug

 

For whatever it is worth, I had listed my red/tan '87 TR (26k miles) on FerrariAds.com and in FML for several months. I have owned it for 11+ years, and have spent whatever amount was necessary whenever my mechanic has told me it needs something. It had the engine out major, with a new clutch, at 19,700 miles. In order to improve the looks (in my opinion), I had the rockers and the front lower lip spoiler painted the body-matching red, and have 17" speedline chrome wheels. It has 3M on the front and the mirrors, does not have any dings or dents, but just the typical tiny tiny stone chips from driving it. I put in a several thousand dollar Alpine multimedia touchscreen stereo, with iPod hook-up and a 12 CD changer. I also did an exhaust, with stainless steel tips. The car starts and runs perfectly, and alot of F car people in the mid-Atlantic region know and love the car.

I listed the car for only $57,500.00, with no need or urgency to sell it. I was merely going to switch to a 550 Maranello, and with seven cars already, could not justify (to the wifey) keeping it while buying another 12 cylinder Ferrari. (Believe me, I tried....) Then I considered dumping it and getting a FFR GTM, but realized that my new Camaro has the same drivetrain that the GTM would have. So I bagged that idea.

The highest offer I received was $50,000.00, and numerous of my friends even thought that $57,500.00 was too low of a listing price for my particular car. Since that time, I have come to my senses and removed the ads, and plan on keeping it. I am not sure that when push came to shove, I could ever sign over the title to my beloved TR.

But it was an interesting foray into seeing what the market would bear for my car, which I think is a somewhat stellar example of a TR. Disappointing, to say the least -- and for $50k, I, too, would rather drive it into the ground than give someone an helacious deal on a supercar. (But I am still on the 550 hunt.....)

 

Define "best one" and "great price" for us...

There are hardly any on the market of any quality right now. There is a yellow one on the east coast for some insane asking price (139k). a 512M was on Ebay last week for a starting bid of $150k (not what u asked about i know).

There are seemingly a million (well OK, at least 10 or 15) Testerossas around though and at least a few of those are v high quality...but if u specifically want a 512TR you will need to wait for a few to pop out of the woodwork.

 

there was a beautiful red tr (86 i think) at the bonhams auction in greenwich this past weekend. had no reserve and some decent interest but sold for only $37000! estimate was $55000. what a great deal esp since i recently sold my daughters vw eos for close to $20000.

btw, a fantastic 67 lincoln convt sold for only $19000. i would have 2 nice cars if i only had the room in the garage

 

Although you made the car what you wanted it to be, I think the changes you made hurt the value. I am looking for an 85-87 and stay away from the cars with painted lower side skirts / spoiler....or aftermarket wheels. All stock is what I think most people want and what usually brings the money. Just my oppinion though...

Brian

 

I bought my 1994 blk on blk 512 TR for $73,887 in November of 2011. It was a very late 1994 model so it had the upgraded diff and all the other upgrades done before the M

It needed a Major, it had an A/C noise issue and leak (dash out problem), needed new tires, and needed some misc tlc.

I have put $25k into it including major, new tires, fixed A/C, new radio/amp, UV protection on windshield, touched up interior, fixed sticky, etc.

As far as I am aware the car is now perfect, every time i drive it i am looking for something wrong as I like to tinker a bit and I have nothing to do.

So all in I have $100k into the car. I don't know what its "worth", but I would never sell it - it was the car that adorned my walls as a teenager and is, IMHO, the most attractive car I have ever seen. Every night I get home from work I walk around the car admiring it (its F'd up I know, but honestly to me it is like a piece of art).

 

Yeah, I have to agree. I think an aftermarket exhaust, as long as the original one came with the car, would have been the only mod I would have tolerated when buying mine. Ferrari aficionados, willing to pay good money for a good TR, will look for original cars. Nothing wrong with making it what you wanted it to be, it's just that the majority of people want what Ferrari wanted it to be.

 

Check Ferrari of Houston, one there the other day, no idea if it was for sale or in for service, it was on the Used Car side though...