1992 Ferrari 512 TR For Sale, Recent Service, 18,400 miles

Can you share your asking price please? Also, location? Thank you.


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Appreciate the quick reply. Can you post some pictures? Also, the reason for the repaint?


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Your car has been for sale one week and you think that is a long time. Honestly, it will take a bit to sell any exotic, even when priced aggesively.

Also you have no history here; meaning you have not been here for years speaking of your car where someone says hey XYZ's car is for sale if you want a great car go buy it and additionally many people just won't buy a car which has any accident history regardless of how minor it was. JMO.

 

A few thoughts, and please take them as they are intended - honest opinions from someone who has Ferrari ownership in mind.

1. It is yellow. While that is nice in the sense that it sets your car apart from the sea of red, it also means that you have a limited set of buyers as there is a sea of red for a reason - it is very popular. I know that I personally am not interested in a yellow sports car.

2. The 512TR sits right in the middle of the price range for 360s & 430s. It is going to be tough for a lot of buyers to go for the 512TR when they can stretch a bit more and get a 430, or save a few pennies and get a 360 (both of which are great cars).

3. Mileage isn't that low. 18,000 *is* low, but it isn't below 10,000 miles and that seems to be a magic number for real premium prices. 5000 miles is even better. On the other hand, it isn't quite high enough for someone looking for a driver. I personally have a target of between 20-30k as a sweet spot for a car that has been driven but is still new feeling. You are below that spectrum, but not by that much.

4. Most people don't get the difference between a 512TR and a Testarossa - but they do get the price difference. Again, that limits your market to EDUCATED buyers, and sadly they are often a rare breed. Probably the strongest market for 512TR sales are previous Testarossa owners who are willing to pony up the sizable chunk of cash to upgrade their experience.

With regards to price, I am going to respectfully decline to comment on whether it is appropriate or not, because quite honestly I am not qualified to comment on that.

Best of luck with the sale - I hope your lovely car finds a great home.

 

As someone who is shopping, albeit though not seriously considering a purchase at this very moment, I am intrigued with the car, but note that the asking price on eBay is $10k higher than your price on here. The repaint history will likely deter some buyers as it makes the resale more challenging on the other side; perhaps including a link to a Carfax or Autocheck might be a help to buyers on the fence.

Also, your profile notes that you are in Virginia, and the car has a major service done in California last year ... were you the owner at the time the service was completed or did you buy the car afterwards and decide to sell it pretty quickly? If so, you might say why.

Also, I don't think you're helping your cause on the eBay auction by noting that a major service can run $5k-8k ... that might scare off buyers who are not familiar with the marque but intrigued by the car. The bill you posted is more in the $5k range.

If it were my car, I would reword the auction, include a CarFax, invite (or perhaps pay for and post) a prepurchase inspection by both a mechanic (leakdown/compression) and a qualified body shop to assess the repaint and repair, and try to provide some relevant data to recent 512TR sales (or other 512TRs for sale currently) if you can find any, or perhaps book values from the Black Book CPI guide, etc, to set your asking price within a range of other examples.

Also, posting photos of the car here instead of an eBay link (that isn't really link -- not everyone knows how to search by item number) would be a good idea. Great pics will help sell a car like this.

Just my two cents ... I think it's a beautiful car and the color is not a deterrent for me, personally.

 

FACTS:

You can find a Testarossa for $35 to $50 all day. Add $10 for a major.

OPINION:

Do not feel there is a $40 gap, the yellow doesn't help and if you truly want to move this thing - $68 to $80 is realistic..

BEST WISHES

 

Unfortunately people think their various Ferrari's are worth more than they are, generally because others (who aren't trying to sell a car) tell them that. It is only when you go to sell it you find out what it is really worth. A quick scan of the ones sold, or listed and not sold, on ebay will show what others are willing to pay. Look at how many really mint Testarossa's are listed for sale on Fchat that arent selling at what appear to be very good pricing.

 

Well, you may be opening a can of worms here, but from the service photo posted in your eBay ad it appears you may have acquired the car from the infamous <removed personal name> who previously brought us wildly entertaining threads such as this ad here on F-Chat last year -

https://www.ferrarichat.com/forum/ferraris/417864-only-le-mans-blue-355-spider-bordeaux-interior-19-hres-17k-just-%2459k.html

Given the questionable history of that car it doesn't really bode well for your 512TR, especially when paired with the disclosed accident history.

Also, personally, I'd be concerned about a major engine-out service on a 512TR that only ran $5K. That's that ballpark for an engine-in 360 service. As a buyer I'd be worried this service may not have addressed other common items that get done at the same time as a typical engine-out. I don't know though, maybe a Testarossa/512TR service can be done at that price. This is all just my humble opinion - since you asked.

 

I love your car and totally understand that they have been undervalued for a long time. I think people are used to seeing those ridiculously low
prices for them which has been the norm for a long time. How long has it been that you could pick one up for less than a 360? I have only been around
for a few years but this has been the norm since I got interested in Ferrari.

So now it appears that some are starting to see the value in the cars and the pioneers are starting to sell super perfect cars for big bucks. I
actually don't know if they are selling but I see that some asking prices are starting to show up that are 2X times what they were just a short
while ago. That's a big jump IMO and you have to have the patience to wait for the market to catch up to you if you are going to be a pioneer.

Here's the normal mind set:
When you buy a car you take a hit. We all know that you are going to take a hit right? That hit is called depreciation. There are ways to combat the
depreciation. Usually this is done with improvements to bring the car up to museum quality (matters a lot more with an ultra low mile car) or in the
case of an expensive to maintain car...lots of recent maintenance. This of course costs money which can help to offset the depreciation but the norm
is that the car is still depreciating.

Here's the equation for the normal mind set.
Cost to purchase car + upkeep and maintenance AND improvements > The cars present value

I think what you are pursuing is different than what I have laid out. I think you and a few others are making the market for these cars now. I think
it is long overdue and we are here witnessing it unfold. I happen to think you are right but I am tifosi. Love your car, I am also one of those rare
persons who are not afraid of yellow. You must understand that a large percentage of the market that you are trying to tap into is terrified of
yellow. I am also not afraid a correctly repaired car, if completely documented, as is a very large percentage of the market you are trying to tap into.

My .02

 

Wow man! Good detective work...

 

I believe the last 512TR with a paint/accident history sold for $62K (IIRC) on eBay to someone here on Fchat. about 1-2 months ago. Red, with red/black interior and chrome wheels. The paint history hurts you. The number of buyers is limited, as others have said. Good luck, but you should be prepared to take a discount if you are in any type of hurry.

 

So you just purchased the car in the last 6 months and now you are selling, that is unfortunate.

 

And he only got to put 600 miles on it!!

 

+100

 

IMO when people are looking for a Testarossa they look for the least expensive. TRs are worth more for numerous reasons and therefore are shied away. If you want a TR you know what you are looking for.

I believe yellow is a fantastic and rare color for a TR and I would love to have it if I were shopping, so I think your car is brilliant. Having said a TR shopper knows what he is looking for and most likely knowledgeable, my belief is they see you as some one flipping the car for some reason.

I hunted for these/TR at one point and yellow was on the list, not red. I wanted a well sorted and maintained car that had been driven. Low miles are over rated if there are good records of maintenance. I also wanted a committed owner.

I wish you luck. As I said the car is brilliant.

 

I love it and would certainly consider it if I were shopping.