The grey one that we discussed just resurfaced online: Askinge price 140k down from 179. The owner purchased it for 140+ fees 2 years ago. Still quite a contrast with what the auction on BAT brought for this car 110k. Truly a huge disconnect between seller and buyer in the TR market and since for now its a buyers market prices are trending logically down. Sent from my iPhone using Tapatalk
Lol I like the guy as an actor especially in tin cup. But the dude is the epitome of a hollywood weirdo. Wasnt he dating a 16 year old back when he was 30 something? And I'm pretty sure he is buds with al Sharpton as well. The guy was a sex symbol back in the 80s and early 90s and the best he could do is a 15 year old? Lol. Ill celebrate Philip michael Thomas instead. Any of you guys ever seen that internet video of him attending some psychotic fans wedding as the best man? It is hysterical
We are seeing a significant difference between asking prices and selling prices. The cars that are for sale are the same ones as six months ago yet asking prices have remained firm. When tested by the market in auctions (online at least), I have seen $75k to $110k. When will sellers wake up? When they have to, I guess. I wonder, however, how many are in negative equity on these cars and just can’t afford to?
https://www.ebay.com/sch/Ferrari/6211/i.html?_from=R40&_fosrp=1&_vxp=mtr&LH_Complete=1&_nkw=ferrari%20testarossa&rt=nc&LH_Auction=1&_trksid=p2045573.m1684
Personally I dont see TR prices going back up soon, but I think the above does describe one thing: dont expect to find a lot of amazing TR’s at the current prices. I just dont see the one or two owner mint early TR’s being liquidated just bc demand has gone limp. Sellers will hold them.
True. However, if their goal is to "gain a yield" they will be in for a rude awakening.The last wave of buyers who bought solely for this purpose back in the late 80s early 90s had to wait until 2015 to "realize their yield" . And I would have to imagine given the "flipping" markup that was on those cars back in that time period, that very few of them actually did. Many of them probably were lucky to break even. The museum cars all flooded the market in 2015 when the market was hotter than hell. So unless the new owners of the "museum" cars are planning on keeping those cars for 15-25 years, then they will more than likely never make that money LOL. https://bringatrailer.com/listing/1991-ferrari-testarossa-7/https://bringatrailer.com/listing/1991-ferrari-testarossa-7/ Case in point this car. Would have been a bidding war followed by a 200k plus sale price back in 2015 when the market supply was artificially constricted and overhyped.
Yep. Besides, it wasn’t that long ago when TRs were swapping hands for $40k to $50k. Those people could still see a profit now. Where are those cars?
I bought one of those cars and sold it back in Oct/Nov 2017. That car is definitely worth more than $50k so I doubt we will see 2012/2013 prices ever again.
They won’t go back that low and trust me I have been way more than anyone on this thread they are going down... there is a huge discrepancy between asking prices and selling prices however it has softened but a lot of those are still selling in the mid 90ks and stable Sent from my iPhone using Tapatalk
I’m sure you’re right but I hardly see any cars selling at all. Or rather if they are selling then they are not being advertised where I am looking. Surely, if I am right, then someone has to blink? We are seeing cars being advertised in the $90k’s. Even those aren’t selling.
I can easily argue against the "similar economic conditions". Credit was tight and home equity bottomed out. The economy back then was pulling out of the worst slump since the Great Depression. Same number of cars, I'll give you that unless China opens it's doors for imports. The key is that the Testarossa evokes an emotion that can't be matched with any other $50k car.
I bought at 97k a car from Ferrari which was for sale for 9 months. They wanted 130k, sold 97k. It was in 17” with major, resold around same price on here Sent from my iPhone using Tapatalk
That’s interesting. So the asking prices are masking the real selling prices? I’m still not seeing much shifting though. Same old cars month in, month out for sale with no one lowering prices to shift them. How do dealers sustain themselves like that?
Ah yes! That solves that one. So I’m wondering there if in fact instead of seeing a glut of unsold expensive cars, we are in fact seeing a dearth of good cars which is holding prices up. That is to say the number of cars for sale is relatively low at, say 20 or so, and it would take more to come on the market to reduce prices further? 20-30 cars on the market does seem like a lot though?
Yes- cars like Merlin auto at 200k are definitely delusional sellers. Still thinking it’s 2016 out there... Dealers tend to slowly lower there prices after a while. Sent from my iPhone using Tapatalk
just remeber buying the cheapest ferrari will be the most expensive one.go look at a 80s asking tr and go look at one 100k and compare them
Guys, what’s the thoughts around Testarossas as investment cars? Personally I certainly hope that people buy them to enjoy them and not to flip them for a profit at any given time. As long as I Have been around in the classic car game the prices of Testarossa’s and Ferrari’s in the same segment has been as volatile as the oil price. So hoping for a quick gain is kind unrealistic I would think. For that reason I basically write off my cars mentally when I buy them. That is also why it is close to impossible to lent money for old cars where I live Best Peter
The only cars that are "investments" are the ones that are ridiculously rare and sought after, and even then I still wouldn't call them investments. Testarossas are CERTAINLY not investments.
invest in property .ferraris are investment on bringing a huge smile to your face, at end of the day priceless life is short
Excactly my thoughts. Property is more or less catching up with inflation seen over half a life or so. Cheaper Ferrari's or any other classic cars for that matter are the smile factor. Then maybe if you have the time and luck you can break even or maybe even make a few $ on your old car.....But then do not count in the running cost or that nice original tool set you had to buy to feel even more lucky.....-
when you would buy a picasso you only can look at the painting buy a TR and you have art of the best to look at and also to enjoy driving and of course a nice sound machine and therefore a big on your face
Mine was a great investment (even though I bought it because I wanted it) Not only has it gained in value, but I got to enjoy looking at it (like a piece of art) driving it, and hearing the wonderful X-Ost note. No fun looking at a boring investment portfolio......Cant drive paper
