512 TR Market and cars available

I have owned 2 512 TR’s. I’m thinking it may be time for a new one, what’s the market today on them? Does anyone have a nice car they would consider selling?

It seems the market has corrected significantly since I sold my last one - what’s a 92-93 worth with say 15K real miles on it?

Thanks -

 

200-225k depending upon condition

 

Really? So they haven't corrected since the 2016 highs?

 

Here’s a long winded answer to a brief question. I’ve been following the 512TR market almost daily for over 10 years trying not to overlook a single post on this amazing forum or car listed for sale, at least anywhere in the public domain. I missed my first opportunity to buy a 1994 with 18k miles on eBay back around 2011/2012. Then futilely watched the market crescendo where by 2014, 1992’s were sailing past $175k and didn’t look back until they effectively hit $300k in late 2015. They gradually backed off since then and if there was a recent relative bottom to be called it was sometime in 2018 trailing into early 2019.

The 512TR market can’t seemingly make up its mind right now and there’s been a recent uptick in the disconnect between asking and actual selling prices since COVID-19. In general I’d say the market is up a little from the recent lows. I think there’s a larger group like me who actively follow and know what the market has done and refused to prematurely step in while it rose so dramatically and then fell and are now picking up the right condition cars at the right prices. There’s a small subset of uninformed buyers you’d expect sprinkled in here and there. And then another group that falls into the excitement trap of an auction where you can see sales at prices that don’t necessarily reflect where the market truly is. Most recently a 1993 sold at Amelia in March for $230k all in and I feel that was about $30k over market. If it’s any indication, even more recently I bought a 1994 red/tan Classiche certified with ultra low miles and impeccable service history and condition (major done in 2019) for a good bit less than that Amelia price. I also now have a full set of matching luggage (many thanks to JIMBO on this forum!!)

Assuming a recent major service within the past year or two, a 15k-20k 1992 seems to be hovering around $160k-$175k. Lower end private sale, higher end dealer sale. Ferrari of Atlanta just sold one with 19k miles, major this past year, for $170k while their official asking price was always north of $200k and the car sat on the showroom floor for easily 6 months+. At 30k miles you’re down around $150k. This pricing is for red/tan and with a recent major. No recent major, subtract at least $10k-$15k. Same potentially for other color combo. 40k+ miles all bets off. Higher mileage 1992’s with or without service history have traded hands for anywhere between $80k and $135k+ in the last 1-2 yrs.

There aren’t nearly as many 1993’s as 1992’s and even fewer 1994’s. Almost everyone seems to acknowledge a total production run of 2261 worldwide, 408 of those sold in the US. Model year breakouts within the US are mostly conjecture with no official model year numbers published. The most accurate compilation I’ve seen is:

240 - 1992
108 - 1993
60 - 1994 (could be as low as 38)

I’ve seen it referenced over and over that there are only 38 LHD 1994 models with ABS and 1994 was the only model year in the US with ABS. So it could be there were as few as 38 1994’s (maybe even less if that number also includes Canada), probably slightly more 1993’s (maybe 120) and a slightly higher count for 1992’s (maybe 250). Representative model year counts that are publicly available on places like VINWiki and cars sold over the past 10 years closely reflect this same relative ratio between the 3 US model years.

Good luck in your search - that’s half the fun! The other half (ok, maybe a little more...) is owning and driving it!!

 

you may say that those prices are in US, but not worldwide
the cheapest TR 93 just now is offered in mobile.de for under 100.000 €, a 92 also for under 100.000 €, but also a a 91 with 50.000 km for145.000 €, a 94 with 26.000 km for 160.000 €, a 93 with not even 700 km for 279.000 €

 

In looking at so many no sales on BAT I think that sellers still need to be a bit more realistic. If we have a down draft in the economy and more come to market I wonder if they go back to 2009 prices. I bought a 7k mile 94 512 TR - perfect car, needed a major, ABS & M differential car for - 95k at a F car dealer in 2009.

Who knows.......... we will see.

 

My guess (and its just a guess obviously) is that 512TR owners aren't going to be in a rush to sell at these low prices. We will just see no cars offered in the USA considering how few there are and their potential value compared to what someone is willing to pay right now. I know if I owned one, I wouldn't be selling it period.

 

165-170 tops


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Couldn’t have written it any better then u.


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Appreciate the long-winded answer Jeff. Good information!

 

I think the seller would say that exact comment about buyers. Most of us have been on both sides. Sellers often have lofty expectations and buyers are looking for a bargain to chest thump they bought it right. The capitulation comes as some buyer wants it bad enough and is tired of waiting and accepts the asking prices as a real price/sees others paying asking prices or the seller just wants to move the car and takes what he can get. This is nothing new and we all see it in cars, houses, boats, etc. The new sale creates a new or perception of a revised price baseline but isn’t always the case. Just because one seller dumped his car doesn’t mean the other five will. Always hard to gauge a market of a half dozen cars available at any given time and given that factor I would say the seller has a stronger hand.

 

There’s even a bigger problem now. Very limited inventory. The sellers are now in a better position to hold out for top dollar or upper price range. As the demand increases for those limited cars/inventory they will sell. Cars are starting to move at higher prices. When someone says auction prices are over priced or don’t count. That’s totally incorrect. Every sale is the market period. COVID 19 is not having the effect of lowering prices either.

 

buy the cheapest good car you can find, regardless of miles, and drive it as much as you like, and enjoy the experience.
you live once, so do it in a ferrari of your dreams.

btw, driving mine to work tomorrow at 8 am .

 

Auction prices can be highly manipulated. There's a "cartel" of dealers in the high end market that have been manipulating prices for years. I discovered that a few years ago when I was buying my TR. Dealers will hoard cars or buy from each other to artificially manipulate the sales data. Look at the Carfax on some of the cars out there and you'll see what I'm talking about.

 

This must be the cheapest LOL...
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http://atcm.co/S2PVDP/21293817

94 yellow Tr -199k or best offer. Well priced! Not feeling yellow but still!!


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