Current Testarossa Values

What evidence do you have that the prices are 'tanking'?

 

Let me take a wild guess, you don't have one. This is usually the type of comment made by non owners who feel they have missed the boat or don't want to face the reality of the current market.

 

and yours is a typical reply of somebody who does not accept a view different than his.
Relax a little....not everyone must have the same opinion as you.

I have an idea: why don't you setup a forum for tr owners only so you can share all the same opinion....and after two days everyone will be bored to death....

I have a db of tr prices that spans many months and the rise and then the recent decline of prices is a fact, like it or not. The same is happening to other f-cars that I HAVE.....so you can throw your assumption (that I'm saying prices are going down because I don't have that particular car) up your glass ;-)

 

YES!!!!! in the hope and dreams that prices will drop to $50k so they can pick one up since the train has already departed the station. It's a pipe-dream.


Sent by incredibly fast electrons

 

If you are able to post up your database im sure everyone would like to see it. This is the 'Testarossa Value Thread' and your data base would be a valued addition. Ive noticed a level off in some TR prices but hey....its the middle of winter for most people and dipping prices are to be expected with snow.


A quick look at Ebay shows 10 TR's for sale with an average asking price of $154,500. 4 of those cars having over 38,000 miles, the other three have 50k miles or higher. The other cars have 9-17,000 miles.

 

great idea - also does the db include asking as well as sale prices where attainable?

 

1985 Ferrari Testarossa | Gooding & Company
Here you go, the best in the world single miror, under 4k miles, 35k service to make it run right. Makes the 50k mile one on ebay at a Bin of 137K seem overpriced or optimistic perhaps?

Auction in europe on a 600 mile car, 170K.

So if someone offering a poster here 280k or whatever froma financial perspective I would sell. Of course if you love the car why sell, which hopefully is th reason people buy.

 

That was another unsolicited collector offer in Aussie dollars so A$300k is around US$210k at present. 19k miles, delivered new in Australia from a UK dealer via an Aussie one, 1986 flying mirror, single bolt, euro spec, RHD (much rarer) in perfect condition, second owner from new, timing belt up to date...........AND.....not listed for sale and I'm keeping it.

Values of early RHD euro spec cars seem generally higher from what I've seen.

You're right in that it was a very fair offer. However the car is too iconic and I enjoy it too much on occasion to let out of my own collection. You're also right in that its irrelevant if people like me don't want to sell. I had the same view when they were half that value a few years ago.

Having said that, if I didn't have one I would want one badly and would likely try and buy one at current values. Its all about the urge not the economics at this level. If it makes unrealised gains all the better.


Cheers

 

A particularly relevant benchmarking factor this-end is that importing down-under is very expensive now.

Living in our self proclaimed 'free' country, Australia which no longer has a car manufacturing industry to protect does the following to a US$176k car...purchased overseas:

176/0.7 x rate = A$251k

Add 30% luxury car tax, say 7k freight and duty and 10% Goods and Services Tax on all of that and US$176 is A$366k!! If you actually want to drive it here in WA add another 6% registration fee for a total of $A388k. Back in US$ thats US$272k some 54% more than the original purchase price.

....and thats after copping 50% tax on the earnings to buy the thing in the first place.

 

It sold for 191k Euro.

 

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Still light compared to what we saw last year no?

 

I have no idea. I haven't followed the Testarossa market since the time I was considering a silver 512TR with 9k miles for $95k, so not for a few years.

I was simply making sure you all were working off of correct numbers.

 

Do you now regret that you passed on the 512 at that price?


Sent by incredibly fast electrons

 

I posted this in a different thread as well...sorry if it is duplicate for you but it is relevant to this discussion: Good thread...just returned from the 2016 Barrett and Ferrari in general did really well. 8 Ferraris crossed the block in this event...4 on Saturday! An outstanding 512TR (901 miles, Yellow, no Classique Cert) auctioned for $325,000 (final with fees was $357,500) and 7 others went for what I would believe to be fair and realistic prices (not really in tune with the older Ferraris but a 1950 195 S Inter Superleggera went for $1,705,000...maybe someone can comment on the viability of that price, I cannot). Several 360s, a 456, a 612 Scag, and a 348 all looked like solid prices to me. Bottom line, I don't see the bottom falling out of the TR...am I vested...yes I have a 512TR but I have an open mind <g>.

 

Hey guy, why don't you post your database to help us out then? This is a community and we stick together. It takes a village to own an old testarossa. That's why most of us are here.

 

Not really. It wasn't the car for me. I love them and I think that they're great cars but between the four Ferraris that I own, my bases are covered a little better. If I had bought it, I would have inevitably have sold it to buy a 550 Maranello (which I bought after I looked 512TRs).

If I had a chance to buy the right 512M at the right price, I would add that as an additional Ferrari but I wouldn't replace any of the cars that I have now with a Testarossa variant.

 

I found a good honest 88.5 TR with 42K miles, paid $42K, in the summer of 2014. Put about $10K in parts doing a full firewall back restoration. Myself doing all the labor. From a investment prospective, I feel I have done well, but I wanted a TR for fun.
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So you too are looking for "the right price"
Btw what does a decent 550 go for these days

 

Sean, "the right price" is a fact of life, not just for cars but anything that anyone buys, from homes to breakfast cereals. There are various principles of economics related to purchase behaviors and I won't bore you with them all but let's discuss just one: the law of diminishing returns.

I have four Ferraris. What do I gain by a fifth? I'll tell you the answer: very little. Therefore, a 512TR/M is not worth the same to me as someone who is looking for his or her first Ferrari and is set on a 512TR/M.

Additionally, the laws of supply and demand equalize at a place known as price discovery. Price is the equalizing factor of supply and demand but it's not the same for everyone (see my previous point).

As to what a pristine, loaded, late 2001 550 Maranello goes for these days, I have no idea. I have only seen a couple of 550s anywhere near as nice as mine and while I vaguely recall the asking prices, I don't know what the selling prices were.

 

550's have some pretty high asking prices these days. To the point of why buy one when I can get a low mile clean 08 599GTB for $143k. TR has the same problem from my perspective, when I can get into a modern Ferrari for the same money or less why bother! TR however does have more appeal as a collectible.

I'm more interested in wholesale VS retail.

 

That's the same thing with the 550. They're all manual and much more sports car oriented than the 575m or 599. I definitely felt it was the sweet spot between the 512TR and 599 GTB and I think that it's one of the best cars Ferrari ever made. Prodrive took a 550 street car, tarted it up and won its class at LeMans for heavens sake. Ferrari couldn't even do that with the 575 and didn't even bother to try it with 599.

A well sorted 550 Maranello is a very special car. As I said, I love the 512 series and will probably add one at some point but it doesn't quite cover my bases like the other cars I have. I'll repeat myself by saying that I will add a 512M when the right situation presents itself.

 

Good point. But now we get into analog VS digital, for most buying today they want digital. When the new Vette hit the streets. I did say to my brother for $70k to $80k Id rather have a TR, it might be a lot slower, but it looks better and is way more fun to drive. Next day, he sent me an article TR VS new Vette. TR won.

Car and Driver

I know a lot of older guys closer to 70 then 40. They have money, non wants to change gears or track. I also know 35 to 50 year olds. They say the same thing. I just think the 550 is to new to be collectible.

 

But here's the thing: I don't care if it's collectible or not. I drive my cars. I want the right tool for the job. When I drive to the mountains on a summer weekend or head to my favorite canyons as the sun rises on another Sunday, I want to drive something charismatic, engaging, thrilling, and competent. What that means to me is not the same as what it means to someone else. I know how to heel/toe, double clutch, rev match properly, and all the other stuff most people don't care about. But I know what I like.

As a result, i choose cars that have appeal to me. There is a chance that they will appeal to others and thus become collectible but that's a byproduct of its being a great car. I don't choose cars because they might be collectible. Quite frankly, for a car to be collectible that means that many other people have to love it and the reality is that I just don't care about other people's wants or desires. Last I checked, it was only my wants and desires that mattered. Other people's wants only matter if you're concerned about future values and appreciation.

I think we all love these cars and that passion comes from a good place in our hearts. At the end of the day, our individual wants and needs are just different enough that we all make different choices, and that should be celebrated.

 

Well the Testarossa`s seemed to do well at Artcurial anyway:


155k Euro`s for a Flying Mirror with 45,000 miles!

https://twitter.com/Artcurial/status/695616374593478657

Rétromobile 2016 by Artcurial Motorcars - Sale N° 2877 - Lot N° 112 | Artcurial


107K Euro`s for an 89 Swiss car with 30K miles:

https://twitter.com/Artcurial/status/695662976313991168

Rétromobile 2016 by Artcurial Motorcars - Sale N° 2877 - Lot N° 167 | Artcurial


1.21m Euro`s for the Spider:

https://twitter.com/uzapelloni/status/695621845018656768

Rétromobile 2016 by Artcurial Motorcars - Sale N° 2877 - Lot N° 116 | Artcurial


All LHD ofc.


Dom

 

Wow thats a strong price and it needs a service. Dom any thoughts on why we continue to see such strong prices for the early single mirror cars across the pond?

Jeff