Current Testarossa Values

I agree 100%

Joe

 

Just to add my $.02. I don't expect the Testarossas to move back down the ladder. Ferrari's don't do that. Once they start to appreciate they never go back down. I think prices will level off but there will always be a high price to pay for pristine low mileage examples. Prices will level off. In a short time almost no cars will be had for under $100k. And if so they will be basket cases. prices will level off. I think your average clean Testarossa with fairly low miles with no repaints and fully stock. I mean clean $135 - $155k That will be the percolating level. Pristine and immaculate examples will sell for more. Much more. I do not see them dropping. The bubble will only cause a percolation. Other cars may drop. Ferrari' don't once they start moving up. Not in today's day and age.

Just my opinion. Plus we all know that Mr.Chairman is usually right. Lol.

R

 

When you say "no repaints" are you refering to a complete refinish or any paint work? I would think that any touch up work performed would have little impact on the price. If you drive it then you will get chips and scratches from normal use.

 

Nobody knows TR like the Chairman

 

Indeed. I followed him on the TR threads when I got my TR. Pays to listen to someone who understands the car & the market.

 

I'm not old enough to remember, but has there ever been a sharp rise in the value followed by a significant drop in value of a 20-25 year or older Ferrari ever?

 

The late 80'/early 90's were a bit fraught, for obvious economic reasons, but generally speaking the answer to your question, is no, there hasn't been such a move and even in the early 90's, the rebound for most classic models was fairly swift.
Over a 10 year cycle, it would seem that the only way is up..... but with the caveat that there can always be a first time, of course!!

Unless there is some international financial calamity, which would affect all investments and assets alike, then long term i can't really see this market changing, perhaps only cooling off a bit, from time to time ,before accelerating again .....
The true classics, such as the Dino 246, Daytona and the mid engine 12's are sure to continue to be valueable tradable commodities for the forseeable future ..... sad as that will sound to the many true driving enthusiasts out there.......
BR,
Jez

 

I think any paint work will be a negative with probably an exception for front spoiler repair. Originality will be king until many more years pass. Then it may not be that big a deal. When I mean more years pass I mean a couple of decades. Cars will still bring very good money. Just not top tier money. Hopefully by the time 2 decades pass they increase even more.

R

 

My 91 TR is currently worth 750,000.00 . If you doubt that price try to buy it for less.

 

This will happen again imo L'histoire se repete ... isn't this an important lesson ?

 

This is the last thing I'll say about it. If the market is destined to carry and continue surging, then why did all of the low mile museum cars all of a sudden just hit the market these past six months? That's right, to cash in. If you're sitting on an 800 mile TR, and have millions in the bank, and the market is still "going to surge", then why unload it? The guys who have those cars DON"T need the money. They all came out to fetch their money before the correction. I have never in my life seen so many low mile TRs for sale in such a short time. Those owners understand the economic side of what is going on and are acting accordingly. Don't kill the messenger fellas. I know of one collector in the midwest with over 200 cars. He just liquidated the whole thing at the end of last year. Guy is a billionaire. Obviously not as big of a passionate gear-head as some of us (pure speculator), but he's not stupid when it comes to the financial realm. All of the bubble signs are in clear view. I don't think it started as a bubble but it unquestionably is at this point. Too many indicators, too much speculation. The brokers are the DEFINITION of speculation. It couldn't be more obvious IMO. There are even Hedge funds getting involved in this nonsense. The broker I bought my 550 Maranello from gets a large percent of his cash from private equity to find, buy, and restore classic cars. Had a wreck of a Dino (shell and transplant engine) in the shop the day I showed up to pay for the car.

More speculation=more correction.

 

well in the moment theres def a lot of demand for cars - I wanted to buy a silver diablo se30 from roy yesterday and it has a deposit on it already....

 

Nice choice. That is THE Diablo. Just wish it had the no power steering. In purple of course

 

wld have looked nice next to my 98 silver sv!

 

Just watched a very average '88 Testarossa in Red/Tan (with brown dash) go "no sale" at $85k in Russo & Steele's Newport Beach auction. The auctioneer indicated it would take at least $90k as it rolled off the block.

When I sold my TR a few years ago at auction, a very similar (to tonight's car) red/tan '88 couldn't even bring $55k. Mine brought over $100k but it was the best TR on the planet (judged "Best Ferrari" at Concorso Italiano in 2011). Man, I wish I still had that TR today. :/

 

And the market talks....

 

Yep. If anyone can justify paying $500K for a 1985-1995 Testarossa, they're probably kidding themselves.

IMHO

Joe

 

It's no wonder values have rocketed. Even people's reaction when they see the car now have changed compared to a few years ago.

Before people's attitude was "nice but not my thing" or "what did you buy one of those things for they're not that fast anymore."

The past year or two though, people seem to go nuts when they see it - and even non enthusiasts say stuff like "wow that's the best looking Ferrari ever, it's gona be worth an absolute fortune in a few years."

....and if anyone in their 40's happens to see it, they just about wet themselves!

I think people underestimate just how big the 80's generation was.

The demand for anything 80's related is going crazy - people are buying up everything 80's from arcade machines to radio control cars.

It's not hype, it's people genuinely getting nostalgic and buying stuff from "their time."

The Testarossa and Countach are right at the heart of it and define the 80's more then any other cars - so looking at it logically this price increase isn't crazy, it's to be expected!

Dom.

 

Thats what i bought at the beginning of the year with grey alcantara interior, I'm in love with that car dont see me selling it of course I think they are a great bargain still

 

They're gorgeous. And who would have thought the car would look so good in purple? But it does, it is just right. The best bargain I saw recently was the red Monterey edition that was up for sale last year. It had high miles, I believe 35k. Mario Andretti's old car. But it was sorted, red and under 100k. Somebody got a great deal.

 

same post as in the vintage and 550 maranello thread:

for you naysayers, are you saying the car market is idiosyncratic? ie, stocks, real estate, bonds will do fine but cars will pop? I can assure you that wont happen. I think this is where the bubble popping camp falls short - what are you guys actually saying? Are you saying QE was the root of all evil and ultimately markets will fail again? are you saying the world is going to 2008 again? if ur saying that then yes cars cld depreciate. I can guarantee you no one who can do simple math is going to sell a car and buy a 10yr treasury at 2.3 and most rational people are not aggressively allocating to equities after a 6 yr bull market. last time I checked my rich friends already own 2 or 3 houses so if they add another they either have the cash or they'll trade one for one.

So if u wanna say we are going back to 2008, fine. to say that the world will stay in tact but cars specifically will go back to 2008 prices is just not rational.

 

the 91 testarossa was sold for 80k BP ( so about 122k US dollar plus 11 % )
the black TR ( 1988 ) not sold in first round

 

Yeah saw that - I wonder if Darius went and saw the condition of the two cars as there was not much difference in mileage between them - the black one just under 25K miles and the red one just over 21K miles I think?


The black one got to 65K GBP bid ($99k US) - even with those blingy wheels
I remember seeing an identical car on ebay in the UK about 4 years ago for £25K!

I should have got a loan and bought 10 of them!


The red one with premium puts it about 88K GBP - or $134k US - and these are LHD in the UK....


Dom.

 

Yes, there appears to be a lot of very average LHD stock hitting the UK market at the moment , across all Ferrari models, both at dealers and via auction ..... lead of course by the relatively sudden drop of the Euro rate vs GBP, of course, as well as the general lack of stock of good RHD cars in the UK market at this moment in time.

The problem dealers in the UK have, that i talk to at the moment, is that they just have nothing to sell, as owners are holding onto their cars in this market ..... very different from what some of our US friends are saying , which is that dealers are hoarding vast stocks of high end cars!
BR,
Jez

 

At last some reasoned logic on this subject , rather than the usual generalisations and rhetoric, from the same one or two people!
BR,
Jez