1992 Ferrari 512TR, red with tan interior

1992 Ferrari 512TR, red with tan interior, 12,800 miles, $195,000

VIN ZFFLG40A7N0092600

The time has come to sell my 512TR, as we have now fully made the transition to our house at the coast and no longer have the garage space for two “fun” cars. I have done my best below to list the history and particulars of what has been one of my favorite cars and look forward to a new owner enjoying her as much as I have.

History

1992-2000

The car was purchased new in Greenwich, CT and was kept by the original owner until a late-night accident occurred where the right side of the car was scraped against a guardrail in 2000. The car was issued a salvage title based upon the estimated amount of repairs necessary.

2000-2005

The car was eventually purchased by the second owner and sent to noted Ferrari restorer Doug Pirrone of Berlinetta Motorsports in Huntington, NY. The panels on the right side were replaced with factory parts and the car repainted. A rebuilt title followed in New York in 2002 and then a clean title in NJ in 2003. The second owner kept it for another couple of years before Berlinetta bought it for resale, when a second clean NY title was issued in 2005 just before it was sold to the previous buyer. Here is their June 2005 listing from Ferrari Market Letter:

“512 TR, VIN ZFFLG40A7N0092600 (1992 USA model). Red with tan interior. Magnificent condition, clear title but undeserved CarFax history. Appropriately priced opportunity. 7,700 miles. $89,900. 6/05 ferrari for sale, ferrari restorations, ferrari repairs, ferrari ppi, ferrari restoration, ferrari restoration service, ferrari restoration shops, [email protected], Doug Pirrone, 631-423-1010 (NY)”

2005-2012

The gentleman I purchased the car from was on a business trip to NY and stopped in to see the car on a whim. He bought it and had it shipped back to California. He enjoyed it for a few years, but due to a job loss, stopped registering and insuring the car and then only drove it around his gated community once a month “to keep the seals intact”.

2012-2015

I bought this car after a previous ebay deal had fallen through (see VIN: ZFFLG40A7N0092600 - Ferrari:Testarossa 512TR 1992 Ferrari Testarossa 512TR for a copy of his listing and photos of the car in 2012) and I tracked the owner down through an internet broker.

I had owned several Ferraris but wanted something more visceral and raw and the TR ticked all of the right boxes. I had checked out six other 512TRs before happening upon this one in 2012. Despite its history, this was the most solid of the bunch and just needed a little attention to bring it back into shape. With just under 11,000 miles, it was always covered and garaged. Unfortunately, there were no pictures of the prior damage and very little paperwork supplied with the car. I contacted Berlinetta but they were unable to supply any records. However, they did confirm that the only reason for the salvage title was the cost of repairs being so exorbitant and that no damage to the frame or underpinning components had occurred.

I drove the car directly after its purchase to Ferrari Technologies in Orange. Larry had been highly recommended and it was easy to see why. I gave him free reign to do whatever was necessary to the car to make it right. In addition to a full engine-out major service, all of the fluids were changed, the brakes were gone through, the clutch was adjusted, new catalytic converters were installed, new front fog lamp lenses were installed, and the seat belt retractor and window operation were smoothed out, Additionally, he removed the previous stereo installation and sent the car out for a 4-wheel alignment and smog certificate. I made the 2-3 hour drive down there several times during the month he had the TR in for service. He took the time to go through the car and engine in detail with me. He confirmed that there was no frame damage whatsoever and that the mechanicals of the car were in great condition, exactly as would be expected for such low mileage.

Cosmetic Condition

Exterior: The car shows beautifully but does have a few small areas of paint touch up. Panel gaps are very nice and all of the lighting works as it should. Rear window does have a crack in the base of the rounded corner but it is not visible in the rear view mirror and no one notices it until I point it out. The shields have been on the fenders since I bought the car and I really like them. I realize many don’t and I think they are simply held on with adhesive.

Interior: Leather is in very nice shape. Driver’s seat bolster does show some wear (I have done my best to photograph it but it shows much better in person). Sticky plastic surfaces were fixed. Carpet is in nice shape. Mats look good but are older. Everything functions as it should with the exception of the driver’s side mirror adjustment. In August 2005, Ferrari of Orange County performed the seat belt recall and Larry adjusted the tracks in 2012 (they worked but were running a little slow). Pedals are drilled metal aftermarket versions. Shift knob is aluminum but I have an original black factory version.

Engine: Very clean and tidy. No leaks. Oil filler cap is black plastic replacement rather than Ferrari original and previous owner powder coated the air boxes as he preferred the black finish of later cars for some reason.

Front trunk: Front hood struts could be replaced as they don’t always hold up. (I did once already but I don’t think they last too long under any circumstances). Has an original tool kit.

Wheels/tires: Wheels are in good shape without any major curbing. Yellow prancing horse valve stems to match center caps. Tires are Continental and brand new.

Driving/Mechanical Condition

I have put slightly less than 2,000 miles on the car since I have owned it and these have mostly been FCA events and a loop through the local mountain passes every now and then. Drives in this car are always an event as, even here in car crazy SoCal, it never fails to garner cell photos and comments. She starts instantly whether cold or hot, shifts great, and drives straight and strong. The previous owner had upgraded the exhaust with a test pipes Stebro system. I had a Tubi on my 550 which I liked a lot, however nothing sounds like this TR. It is quiet enough for highway cruising in 5th gear, but sounds like a 60s racecar accelerating through the gears. Since the new catalytic converters were installed, smog inspections have been a breeze. Air conditioning is very cold - in fact, I had the car in stop and go traffic in 100+ degree weather to bring it in for the recent service and I was quite comfortable.

Maintenance

I was almost put off initially by the maintenance stories told on Fchat, however this is a very well-built car and I couldn’t be happier with my experience. I have ensured the annual services were completed and the car has performed perfectly with basically no issues other than an air conditioning electrical switch that was replaced by Auto Gallery in 2013. This Ferrari Tech service done 2,000 miles and 3 years ago was quite comprehensive. Larry recommended a 5-year service interval which corresponds to my research here on FChat, however I will leave that decision to the next owner.
Other items that I have attended to during my ownership include replacement of the stereo and speakers with a very clean and basic setup (I think I have turned it on maybe two or three times during my ownership), ridding the plastic surfaces of the usual stickiness, and acquiring an original tool kit.

An annual service was just completed on July 27th by Damien at Calabasas Luxury Motorcars. He gave the car a clean bill of health after I asked to him to make sure it did not need anything. Four new Continental tires were installed as those on the car were old enough to be questionable.

Sale

Car includes original tool kit, owner’s manual set and pouch, three car covers, red/black neoprene seat and seat belt covers (never used these as they are not to my taste), original red satin w/ black prancing horse Ferrari seat and steering wheel storage/dust covers, extra set of heavy duty brake pads, original exhaust muffler, and original black gearshift knob.

I paid up the late registration fees on the car in CA at the time of purchase and it does have a clean title here. This makes insurance and transfer very easy. I understand the hesitation some buyers may have in purchasing a car with an accident history, however I have priced the car to reflect this and this car belies its history on paper. I am well aware with the recent increases what a low-mileage red/tan 512TR is selling for today and I believe that this is a great opportunity to get into the TR experience.

Pre purchase inspection welcomed and suggested. I have no problem with the car being flat-bedded to any local shop/dealer of the buyer’s choosing at their expense. You are also welcome to speak with any of the mechanics who have worked on her. Please search for my previous posts regarding the car here on FChat. Car is located at Channel Island Harbor in Oxnard, CA which is about an hour north of Los Angeles.

Questions are welcome: Call Alex at 805-232-2330 ext. 2 or email: [email protected].

Pictures were taken yesterday. I will post more pictures later today and will include some of the engine and front compartments.

 

beautiful car, good luck with the sale. but damn paid $57k now asking $175k 3 years later, hell of a return

 

+118K

But props to the seller for full disclosure.

 

Raced, wrecked, repaired, repeat. I have to say it again, repaired right, who cares. The title is a bummer but has no reflection of the quality of the repair. If 92's are trading in the 250's plus, then 25% discount for the bummer title is appropriately priced. IMO. It's still a 512TR.

 

Great ad that will help answer a lot of questions to potential buyers.
GLWS.

From reading the posts above, did the asking price change from 175K to 195K(rightly so)?

 

Alex... OMG you are selling?

Seeing this car takes me back to the good old days. I remember side by side driving from Glendale to my home when we had the TR party. Car always looked good and sounded great.

Sorry to see it for sale but I understand your situation with parking. GLWS buddy. I hope it finds a great home.

 

Thanks for the comments, gents. I'm into the car for significantly more than my initial purchase price which was also more than the eBay deal that fell through (the seller realized what he had when he had multiple people chasing down the car). However, I always find its better to disclose everything and sleep well at night.

 

No change to my asking price. I figure a $50k discount for a car with history makes some sense. Thanks.

QUOTE=tvu;144147226]Great ad that will help answer a lot of questions to potential buyers.
GLWS.

From reading the posts above, did the asking price change from 175K to 195K(rightly so)?[/QUOTE]

 

Haig,

Meeting you and hanging out with the TR group was a huge plus to owning this car. I miss the good old days when your back wasn't a deterrent to owning your silver beauty. Hoping you are fully recovered these days.

Time for me to pass the torch to someone who will drive and enjoy it more than I have time for now.

 

If anyone is watching the stocks....I'd wait. GLWS though, beautiful car. I am sure someone will pick it up!

 

Why wait???????Stocks are paper, cars are tangible assets. All collectible cars are going up. I have a lot of friends in the stock market, they may or may not have been hit......but there cars are still and always be a tangible assets. Stocks come and go, whats hot today can be replaced by something hot tomorrow (paper ), unlimited stock options out there, all risky IMO. Cars, special cars, Ferrari's 308's, 328, testarossa, 512, 275gtb, lusso, to name a few is like land...God is not making any more. Buy land, buy cars. (the right car is subjective but you get the point, even the wrong car you still have a car, not a piece of paper)

And all cars will sell eventually because of desire to own and experience it's thrill. Good luck selling paper for a driving experience. Car people are wacked, we will never change, we buy what we want, not what we have to. Paper is a crap shoot of have to for savings or retirement.
Cars= want to
Stocks= have to
Exception to dealers of course. or maybe they want to also.

 

Great car. GLWS

 

I am with you buddy. When it is time to move, don't turn back. Parking is an issue, I am selling my home at the moment and moving to my beach pad and yes parking is an issue at the beach.

Back is not fully recovered, it will never be but I am doing the best I can. I was at the Wynn few months ago and wanted to drop down into a Scud. Wrong.... I could not come close bending to sit in it. I miss my TR big time but have moved on.

 

I am attaching photos of the engine and front compartments as promised. Thank you for the inquiries and questions. I am reposting the answers I provided as the questions have generally been similar:

The current California title is clean and clear and the car is current on its registration. Again, the damage suffered was 15 years ago and repairs were to a very high standard. All parts used were Ferrari factory replacements (I don't believe any company other than Ferrari ever produced these). There was no structural or frame damage and this can be verified with a pre-purchase inspection. It passes the smog test here with no issues, as the exhaust system is CARB compliant and there are catalytic converters. The original muffler would not difficult to reinstall if a buyer prefers a quieter factory sound. I do have some paperwork from the last owner including the bill of sale from his purchase and some repair receipts and I have all of the paperwork from my ownership tenure. All of the fluids were replaced a few weeks ago during the annual service. The tool kit and owner's manuals are in the leather cases and I fabricated a matching leather strap to hold them in the front compartment.

Please feel free to ask any additional questions by email, PM, or telephone. This has been my favorite Ferrari and I enjoy talking about her. I am also happy to take any specific photos that are requested.

 

Looks like the pictures originally posted were deleted. Reposted here.
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I have had several nice conversations about the car and also had a chance to speak with my Ferrari owner friends. I had a hard time determining what to ask for this car with its known history weighed against the recent major runup in prices. The consensus I received was anywhere from 30-40 percent less than an equivalent car. As such, I am going to ask $170k and I hope it will go to someone who will really enjoy it. Thanks.

 

I finally found a comparable car that had been sold recently - a similar 512TR with accident history recently sold in Toronto at the end of July, however it had a few more miles and was not a U.S. specification car:

Cars for Sale: 1992 Ferrari 512TR in Niagara Falls, NY 14301: Coupe Details - 403075052 - Autotrader

The owner told me it had sold for his asking price

https://arkonn.ca/used-cars/1992-Ferrari-512TR-ZFFLG40A0N0091529-992988

Perhaps anyone interested can use this as a starting point.

Also, my car was just inspected/appraised last week for an interested party and he was kind enough to share it with me. The detailed 7-page report concludes with:

"A very well maintained and cared for vehicle that drives even better than it looks. This is an excellent example of "old school" Ferrari hand craftsmanship that has few, minor, age-appropriate issues. The exterior looks great with no sign of the prior passenger side sideswipe incident with repairs made to the highest of standards. The interior has few issues and all electronics operating as new. The engine bay and undercarriage are very clean no rust or evidence of prior or current fluid leaks. This 512TR performs as Ferrari's are meant to drive and handle."

 

Is the car in CA? I am interested and i hope i can be there next month.

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