Current Testarossa Values

Yes, Yes, and YES!

 

It's a 1995 and as it rolled out of the showroom £300k?

 

These cars love miles. My F512M has 38k miles, just had engine out about 200 miles ago.
Engine was one of the cleanest, tightest, and best balanced engine my experienced and old mechanic had seen in years. I love that I can literally open the hood, turn the kill switch off, hop in and drive it comfortably anywhere I want to without worry of breakdowns and malfunctions. Yes my clock doesn't work, but anyone that has ever heard one of these cars at full scream with the throttle wide open will not give a rats ass. And the other day I floored it in third gear from a 45mph roll and the way the rear end just squatted down and it pushed me back into my seat, while reminding me of how badass and raw this car is.
Problem now with the crazy rise in values is I shouldn't be having that much fun in it as I am. My brother likens it to playing catch with a Picasso...... If I had a Picasso I would use it how it was intended and have it displayed for all to see 24/7.

 

Don't get all caught up in the "Picasso" references lol. It's a car and it always will be just a car. Values will rise and fall for the rest of it's life. Drive it, enjoy it, take care of it. It was built to be driven, not stared it. Don't know where all this "they're like an art collection" nonsense started, my guess is these moronic speculators and investors who are driving up the prices to justify it. All that's gonna lead to is more people being afraid to drive these cars because of "potential" endless value gain during this bubble (honestly can't wait until it pops). Having more classic Ferraris sitting around collecting dust and not driven is the last thing we need.

On a side note as it pertains to prices rising, you would think people would have learned the golden rule by now (especially going through the RE bubble). DO NOT BUY in a sellers market!!! Don't keep feeding out of the speculators hand. Patience is a virtue.....if everybody would actually exercise self control and resist the ridiculous urge to overpay.....values will fall back to earth. Even animals learn after the first time they get bit or burned by something......humans?.....not so much Amazingly, man NEVER learns from his own mistakes and probably never will.

 

This "bubble " seems different to me than the last Ferrari bubble of the late 80s. At the time a TR was 200k and it was fueled by the passing of Enzo.

The current bubble seems to affect nearly all 80s cars of iconic status. To me this follows the patterns of the sixties and seventies muscle cars that saw a rise a few years back,

My point is that this market seems to be about new money wanting these cars instead of the last muscle car trend. As such, the TR will see a rise. The 512TR will see even more due to its rarity and the 512M even more so. Unfortunately, it is hard to imagine the current values returning.

The Porsche, Ferrari, and Lamborghini are the muscle cars of the 80s.

 

This is not subprime Florida real estate in 2007. This is loads of rich guys who love great cars, buying great cars.

 

If you still want one of these things but missed the boat, don't fret. Everything goes in cycles. The market will correct itself once all of this madness stops. Which it will any second now IMO. The brokers have taken away ALL of the cars now. Just look at ads online. Barely any private sellers. Can't blame them for playing the game, but it is a dangerous game to play. As soon as the free market starts telling these guys to take a hike, they will inevitably be stuck with all of those cars and still have bills to pay. At that point the unloading will begin and the prices will fall. The market will catch them and level out, and at that time we'll all know what this stuff is actually worth. Because right now the prices are not real. Buying right now is foolish. Be patient, and in 2-6 years the correction will have come and gone. Then go and buy.

 

^^

I don't think $100-$120k is a bubble for a Testarossa. Can't think of anything else that provides the same value in that price range. It's possible that they have been suppressed for so long.

Now if they double over the course of one year, I'll agree it's time to sell.

 

That is the new price. 90-120k range. there will be no more 130 140 150k prices once the correction happens. They will not double. Unless it happens literally tomorrow. The party is over. Also, the people who are buying the car for value and what it actually delivers as a car, are NOT the same people who are forking over the money for the low mileage garage queens. Those are speculators

 

Yeah, there`s definitely a lot more dealer cars out there than private - as with most classic cars atm.

I guess every dealer is in a different position as to whether they want quick sales at moderate prices or are willing to hold out longer for higher prices.

Obviously every single car is different too - so hard to figure out a general future trend tbh.


I reckon only a small percentage of the millions of 80`s kids who want a Testarossa have got their hands on one yet - so as they pick them off one by one, that could easily send prices astronomical - and make todays prices look ridiculously cheap.

Still if people are unsure about how "safe" it is to put 100-200k into buying Testarossa - "THE" poster car of a generation along with the Countach - I can only imagine how unsafe it must be putting 200-300k into way more common E-types and 911`s.


At least the Testarossa actually looks like it`s worth a million dollars!


If I could buy a Countach even at todays prices, I would - even though I think it`s dead money - just because life`s too short not to have one if you`ve got the money!

There`s plenty of people with that kind of attitude to the Testarossa.

After all plenty of people buy a brand new supercar, knowing full well they will loose a fortune on it, just because they want one....


In the meantime - there`s still opportunties for people to get one at a sensible price. No idea of the condition but these 2 (LHD again) are coming up for sale at the weekend in the Historics Auction, Brooklands:

Historics at Brooklands - Specialist Classic and Sports Car Auctioneers - REF 102 Ferrari Testarossa

Historics at Brooklands - Specialist Classic and Sports Car Auctioneers - REF 17 1988 Ferrari Testarossa


Dom.

 

let us see for how much they would be sold end of 6th of june
hope we get knowledge about the sales prices?

 

I love some if the arrogant know it alls that try to espouse their opinions as facts. Some of these 2 post wonders come on here like they own the forum and that the other senior members, some here over ten years with thousands of posts know nothing.

Of course Brad thinks the market will crash, he just sold His salvaged titled Testarossa for $61,000 and doesn't own one anymore lol.
I bet the majority if these doom sayers including the new two post wonder, don't even own one.
If you think $120,000 is big money for an exitic car that delivers so much value, you should be playing hop scotch with the sissies outside. I would totally agree that twelve cylinders if visceral power is way to much for some of you girls to handle.

 

My car was not a salvage title, rebuilt. And why would I be upset? I sold it for 14k more than I paid for it? And So what are people, saying that these brokers will hold their cars until the poster generation shows up with the cash? LOL. I don't think so. It's all timing. what if it takes five years? YOu think that they're just going to pay interest an not pay their bills in order to keep holding the cars and wait? And I don't proclaim myself as a know it all, just using common sense. I've also shared my opinions with a Ferrari historian who I'm not going to name that lives 10 minutes down the road from me. I'd take his opinion over everyone else on this forum, including my own. He also agrees..... And I also must not know anything of their value, I've only been following the value trend on them since 1995.

If you woke up tomorrow trying to buy a house and the market was completey cornered by realtors holding ownership the houses, all 20 percent overvalued, would you believe the prices? C'mon, use your head fella.

A free market always determines actual value. This is economics 101. Those cars are now DETACHED from the free market as the brokers are developing THEIR OWN VALUES for the cars. It's not dictated by the market anymore, and therefore isn't real.

I didn't realize that pointing out the obvious and stating facts to support a valid argument makes one arrogant.
Image Unavailable, Please Login

 

Joe, you can view the auction live here:

https://historics.proxibid.com/asp/AuctionsByCompany.asp?ahid=10319

The option to view auction is available once it is live.

You don't need to register.... u less you want to bid!


Dom.

 

thank you for this link, I will try then

 

Dom, thanks for the reminder. I feel a trip to Brooklands coming on this weekend. F512M needs exercise and forecast is good..

 

Nonsense.
I just gave a broker a lot of cash for a 512. Why? Because I grew up in the 80's. I missed the Countach wagon. I will keep this car forever because alongside the Countach to me it is the ultimate dream car that connects me to that era.
There is a reason brokers have them. Because we want them. If there was a private seller available for less great but there wasn't and isn't. So as you say Econ 101.
I know there are a hell of a lot more than 408 people in the North America like me.
Its a great deal. The 512 inflation adjusted is $337,000. Additionally a new 512 sold for over sticker in 92. Now it also has nostalgia adding to the value. Do you really think these cars should be half of Dino price? My Chrystal ball says other way around.

 

You have your opinion, I have mine. Even if you don't agree, the fact remains that the price is detached from the actual market and is therefore not real. there are only 408 512tr but there are 7500 testarossas. Many are gone now but there are still enough left. Also, the 512tr prices have been dropping and dropping from where the brokers started with their greedy prices. a 512tr is worth double a testarossa. So if you're talking a clean 512tr, you're talking 230-240 max. If you paid more than that, then you played their game and overpaid . If you keep the car forever it doesn't matter, you're right.

Lastly, you guys are nuts if you think these prices are going to hold. Economies rise and fall. It all goes in cycles. Yes, the collector cars in general are going to be worth a considerable amount more than where they started. And they will go up again on the next rise. But there will also be a correction. That's the way it goes. It hasn't happened yet, but it will. Those brokers can't hold those cars forever. When they start to unload and more private party cars become available, the correction will present itself.

 

I disagree. I am not sure you have thought this arguement through entirely.
It's still a free market. Even if car dealers are buying up the supply. As long as there are folks who have the willingness to pay the prices, then the prices will stay high. these dealers are in it to make money. They should know what the market will bear, and will buy cheap and sell high if they know what they are doing. Or else they go out of business and the bank gets the cars. It's free market all the way.

Now things affecting the market right now could be the ease of getting money. Dealers might have an easier time with low interest rates and that could be creating more dealers buying these cars. But thats still the free market really. It's not like there are goverment barriers to entry in the States keeping prices high. Now if you had a Skyline R34 that would be the case here.

 

They don't buy the cars, they floorplan them on credit 99 percent of the time. And the rates get higher the longer they have the cars.

Very few people if any will pay that price. It's just a matter of time before the market says enough is enough. And it will be coming any second IMO

If I walk into a dealer ready to spend 95k for a TR and I know my buddy just bought a good example the other day for 85k off of a private owner, and the dealer tells me "No sorry but 125 is the best we can do." Then I'll obviously walk out and say piss off

Also, I completely forgot, but while I was selling my car, a collector did call me and tell me that he bought a sorted No stories black single mirror sub 30k miles for 74k from a private owner. TRUE STORY. Now what do you think a broker would have tried to sell that thing for? 140? 170? Wake up. The price isn't real. If it were then the seller would not have sold the car for 74k. This is America, if you want to overpay for your car, knock yourself out. Whatever makes you happy. I'm just offering the reality here. These guys are capitalizing on an OPPORTUNITY, that's all. It's not an end all be all business. If it were then they would have been gobbling up all the testarossas when they were 40k. Market went up, and they're trying to corner, end of story. It will work short term, but it won't last

 

Awesome, nothing like going to a classic car show or auction, in a classic - especially one like that.

Gr8 news if the forecast is good - hopefully it will be nice up here too.


Testarossa has been off road over a month getting wheels refurbed and sorting the wing mirror out, so I can't wait to get out in it at the weekend!

Just going this long without listening to that flat 12 behind my head reminds me how miserable I would be if I didn't have one!

Happy cruising!


Dom.

 

Brad, When the market crashed in 08, TR values didnt crash, they dipped like 15% IIRC. If we go through another huge crash like in 08, Im not crying for two reasons: I plan on keeping my TR for a long time and the market corrected UPWARDS. TR's might be a little over inflated on the open market but not 40% like you are suggesting.

There will always be guys who find cars for a good deal through friends and networking, but its the exception, not the norm.

Do I think there are speculators buying up TR's? yes. Because there are guys on the street who are coming into their money years. The demand for the car isnt going to fall off a cliff, it might just adjust a little.

Lastly, as far as experts.....We all can pull up articles in the past of well known experts that said the TR would never go up.....just like the 308 and the Dino if you go back far enough. But they did.

Just my opinion.

 

someone said it earlier in this thread, but i totally agree that if you compare the supposedly over inflated prices for these cars compared to paying for a new F12, and the depreciation that comes with it (and that is of course 100% certain!), then the TR/512 are still very much the bargain of the century.
I think the only people who sell such a car now, have probably been forced to , for whatever reason, and are likely now to be regretting having had to make that unfortunate decision.

Markets fluctuate, but looking over a 10 year horizon, the real classic car designs of the 70's/80's and 90's, such as the Dino, 308 and TR....... are only ever going up. Its just going to be a question of how much , and of course that is anyones guess.

BR,
Jez

 

Brad you can keep preaching your hilarious doom and gloom till the cows come home but it just makes you look like a joke here. You sound like an upset person who missed the boat or sold yours way too soon for too little money and are living with the regret and just can't let it go. You are a one man ex owner that thinks you can come on here and talk the Testarossa prices back down but I'm sorry, the only place the values are going are up. You need to understand that not everyone is playing with the same bank account that you have. What you personally think is expensive is a drop in the bucket for others. It's not just dealers purchasing these cars but private end users. I should know because I have had offers north of $150k. You are swimming against the tide here. Let it go brother. You're embarrassing yourself.

 

I'm not talking about testarossas only, I'm talking about collector cars. It's not doom and gloom everyone is happy the market is up. I'm just pointing out something that is obvious that most people clearly missed for some reason. There's no need to get offensive with your comments. If you don't agree with me say so, state your point. I'm not embarassed, and I don't have to defend myself, especially over the internet. I'm not trying to talk the value down either, I'm not retarded. The only reason I brought this up was to help anyone who does still want this car but doesn't want to pay the current "price". They'll be able to get the car for a good amount less in 2-6 years. That doesn't mean the car is going down the tubes in value, it just means that the price will be corrected when this broker fiasco ends.