Pricing trends on 512 TR and 512 M

even tho mine is a 92, and i have 31k miles on it, mostly by me, and it has patina....i would not sell it. i place the value to me of this car at $200k. largely because i have owned it for 20 years, know it very well, know all the maintenance history, have a lot of memories with it, and dont know what i would replace it with at that price point for the same benefits.

btw, out of all the cars i have, the 512tr is my favorite.

 

He hasn’t given us his timescale. As you say, both are available. You pay more if you want a car quickly or you would pay less if you are prepared to wait. I can direct you to a $200k gen 1 Testarossa right now if you want?

 

I understand what u are saying and I am sure u don’t need to sell but if u were 200k would not ,IMO, get u am offer in this market.


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that is precisely the point i was trying to make.
i do not need or want to sell, and i place a high value on the memories and experience, and i dont think i am alone.....so even those guys that are offering, are doing so without much enthusiasm unless they are really up against the wall. hence the data you see.

JR above makes a valid point that time=money.

 

Yes that’s why the market is so flat.
Cars sit, sit and sit till circumstances changes and they are forced to sell (cr bat cars)... the 2 i shared on bat (black ones) had asking prices of over 160-180 for a year before they sold at 128 and 146.
I agree it’s a fantastic machine; I got a FF now but my TR was much more special and withe the noise and proximity of the floor it felt almost as fast!


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yup. so what i would advise the OP is that if he wants to take control of the situation, he needs to go check out the cars listed in the 160-200 range, find the best one for his needs, and then be ready to reach across the bid/ask and book it closer to the asking price.
yes he might pay more, but waiting for the off seller of a good car to become desperate and hit his lower bid, seems a lot like waiting to get struck by lightning.

 

Agreed! Good advice!


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Respectfully, I don't think anybody really expects that to happen. Sure, there are cars out there on consignment, where the seller has been "caught out" by the market dive, or is putting out a feeler because they want to get into another car. Eventually I think most of those cars just get pulled off the market.

On the other hand, dealers and sellers that have decided to sell (i.e. most cars, IMO) will move eventually near the real market price, as there is little to no sentiment involved. My advice to the OP is slightly different: Find 2 or 3 cars that fit, then lowball.

 

Some guys look for the best examples of a particular model of car and some guys look for the cheapest.

The guys that buy the cheapest thing NEVER have the best examples of anything. YMMV

 

I disagree with you. You can make any smart purchase a gem (house, car, etc). If bought right and you have the knowledge to bring everything together you can come out ahead.

 

My point isn't about value, it is the overall quality of the car or item and the actual cost of ownership. Buying right is always the way to go. Buying strictly on the lowest price, not so much. IMHO, a car that is priced above the bottom, will have a lower cost of total ownership in most cases as well.

My primary car mentor growing up was Porsche legend, Chuck Stoddard. Chuck taught me always to find the best example of a car that I could afford and then save up some more money to get a good one. Good cars are still the better way to go in the long run for me.

The bottom line is, IMHO, that you have to evaluate each car individually and then buy the best car, not necessarily the car with the best story or records. TRs, 512TRs, and 512Ms are all 25 years old. Having the car professionally evaluated means more than anything else. Online descriptions and photos only get you so far. Good conversation for the sewing circle, I suppose.

 

I’d lowball too. Asking price isn’t a guarantee of quality and it’s a deflating market.

 

Just heard that the the BaT 512TR that is going to Brazil needed major engine work, so the bargain price of a $130k purchase will end up being a $160k car for the sight unseen online auction buyer.

 

Yes market does not support those prices at all lol


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FWIW the 512M I have in my care , is still priced where it was 4/2018 , the owner is keeping on eye on actual selling price vs condition of the few 512M that have actually sold.
He is not in a hurry, not selling for a low ball offer ,and willing to wait as there is still value of ownership to consider, even from a distance.

S

 

I have a 92 512TR Red creme
I’ve owned 5 years
Previous owner 23 years.
Southern CA dealer serviced since day one
All records. Perfect. Stock except Capristo exhaust. 23k miles. I would consider $160 firm just because I recently bought another car. Major 5 years ago. I think you can find good cars with history for around 160 if your patient. The market has already corrected. I would never let a car like this go for less.
People that own them attach a certain value.
It’s not just a asset that can be sold. There is an emotional connection and nostalgia. I’m happy to keep it and most owners are. My biggest fear is regret from selling.



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i have regretted selling most cars.
the exception being my first ferrari , the 348ts, which was cursed by the devil.

 

There's not too many of these for sale right now and the dealer prices are much higher than you are asking. I'd find something else to sell!

 

i regret selling my diablo vt and my 04 esprit turbo

 

Had a 94 348 spider as my first Ferrari.
Only over a couple years but not one problem including a trip from Florida to Midwest and a few track days. Loved it but didn’t miss it since I went to a 355


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Yes I ran it through BaT and didn’t meet reserve so now I’m sitting on it and enjoying it!
I post a reply here and there that it’s for sale but I haven’t advertised it here or anywhere yet. Agreed something else to sell...
mmmm or maybe not


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I though ur car deserved 160k on BAT. Maybe if u do sell it this forum and the springs are better avenue to find a rightful owner!


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This was my 512M...!!! so sorry I let it go

 

I say spend some time shopping maybe give yourself a 12 month time frame to find the right car. And yes try to buy the right car given condition and miles and if you have to pay up like 180k it won’t be the end of the world. I don’t think 180k is out of range if it’s the right car given its condition and miles. If he’s planning on a long term hold it really won’t matter as I think the long term trend will be up. This will allow him to buy a car sooner than later. If you start to put restrictions on your price point you may have to wait a long time. So the decision will be based on the buyers time frame mostly. I look at this another way, if I go buy a new Ferrari the depreciation amount will be far greater than if I pay on the high side for a 512tr to get the right car. There’s different ways to consider your options. If your a 512tr buyer the answer is simple go get one ASAP. This price discussion is based on helping give buyers here a balanced perspective on price. This just helps with making an informed buyer. Whether your buying at, above or below its the buyers choice based on his time constraints or needs.

 

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I never regret selling any of my cars.
There was only one exception in my life, 2004 CGT, I am still upset about that sale.....