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F512M with 3600 miles sells for $205K!

Discussion in 'Boxers/TR/M' started by geno berns, Mar 22, 2008.

  1. geno berns

    geno berns F1 Rookie
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    Oct 26, 2006
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    Strong money for a time warp car that has been in storage for 6 or 7 years. Seems like a new car still with 3600 miles, Tubi and re-sale red/black color combo. Will need a major service and breaks rebuilt more than likely. New owner will be in it for $220+
     
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  3. Whisperingthunder

    Mar 10, 2008
    2
    I was at the auction today, I thought it went for $200. I was shocked by the price, buyer will need to pay sales tax (almost $20K), in addition to new tires and major service (most rubber items replaced, fluids flushed etc.). Oh well.
     
  4. geno berns

    geno berns F1 Rookie
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    Agreed. I took it up to $180K since I know the car will need a good amount of work....Gene.
     
  5. FarmerDave

    FarmerDave F1 World Champ
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    Jul 26, 2004
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    Crazy Don is starting to look like a pretty smart cookie ;)
     
  6. Countachqv

    Countachqv Formula 3

    Apr 25, 2007
    2,240
    USA/France
    if the buyer pays in Euro, you'll see more deals like this.
     
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  8. Gershwin

    Gershwin F1 Veteran
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    Feb 21, 2005
    6,036
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    well then logic would dictate all TR's are appreciating in value, no doubt.

    I call it investment grade toys!
     
  9. NOWANNABE65

    NOWANNABE65 Formula Junior

    Nov 22, 2007
    726
    Midwest, U.S.A.
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    GLC

    Gene,

    Forget the 512M and get yourself a 512TR and/or Testarossa for half the price and change left over to restore it to platinum. Cannot justify trading in my 1988 Testarossa for a 512M for over $100,000.00. Just my 0.02 cents.
     
  10. geno berns

    geno berns F1 Rookie
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    Gus you are right. A nice 512TR is virtualy the same car as the F512M for half the price.
     
  11. amenasce

    amenasce Two Time F1 World Champ
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  13. Jackmb1

    Jackmb1 F1 Rookie

    Dec 27, 2005
    3,297
    I guess the prices keep going up for the M.
     
  14. gsjohnson

    gsjohnson Formula 3

    Feb 25, 2008
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    As I stated previously, that is the best 512tr for under a 100K currently on the market. An excellent buy. I think the color is hurting this car though.
     
  15. WDR328

    WDR328 Formula 3

    Dec 11, 2003
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    D. Rose
    Gene, I am not sure you actually took the bid to 180K I think you just got in the frenzy. I watched on the internet and that car went from 100K to 200k in about 70 seconds.
    If the new owner is interested in keeping the car and willing to spend some money on it then I think he will have a nice car and certainly a low mile one and I believe that was a one owner car.
    Congrats to the winning bidder and when you have a chance post some pictures also I would like to ask you a couple of questions.
     
  16. F1 MONZA

    F1 MONZA Formula Junior

    Sep 6, 2004
    478
    California
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    John
    I was next to the winning bidder, the Auctioneer started the bid at $200,000 WHICH NOBODY BID, Then went down to $100,00 and wow the bids cam in very very quickly. Some local person bought it for $ 205,000. THE OVER ALL CONDITION WAS REALLY REALLY NICE . It was an one owner car. from the information i gathered from the auction reps. Well, all i can say is it seems F512m are still steadily climbing. we shall see if it does better in the coming months only time will tell.. Hey don I was just thinking if you sold all your F512MS you can be able to pick up an F-50 my friend makes you think? food for thought...
     
  17. ferrari sulla pellicola

    ferrari sulla pellicola Formula Junior

    Jun 21, 2004
    614
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    Richard
  18. James_Woods

    James_Woods F1 World Champ

    May 17, 2006
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    James K. Woods
  19. markMARKO

    markMARKO Rookie

    Aug 19, 2004
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    Lake Oswego, Oregon
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    Mark S. Inglis
    I was also at the auction and I heard the hammer go down at $ 200,000. If the owner resides in the State of Washington they will also pay a 9.2% sales tax. I ran a CARFAX on this Ferrari before the auction and it showed being originally titled 10/15/1995 in Illinois (Continental), then re-titled on 2/08/2000 in Ohio, then back to Illinois 1/12/2001 and finally in Washington State on 5/7/2002. Whether those title changes were all with the same owner moving around or with different owners I do not know. Neither the Murphy Auctions representative or the Department of Justice would provide any information other then the vin number.

    My thanks to Don Rose for the coaching prior to this auction. I'm a 328 owner who had a "fantasy" of purchasing this car. Late Friday afternoon at the preview I was able to get up close to the car and the condition certainly appeared consistent with the low miles. I'm assuming this is a record auction price for a 512M and perhaps justified for the low miles. No offense meant to you 512M owners, but I was very surprised at the selling price. Now what about those deferred maintenance gremlins?
     
  20. geno berns

    geno berns F1 Rookie
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    I set the max. bid at $180K before the auction started.
     
  21. WDR328

    WDR328 Formula 3

    Dec 11, 2003
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    D. Rose
    This auction brings up an interesting situation. The San Diego Collection has #16 listed for sale at $275K and there is a private owner that has refused a sale on his car for a number in excess of $200K. Until this sale there has not been an M that has sold for $200K-the apparent glass ceiling. I wonder if in a year or so we will look back on this sale and say that was the car that broke through the $200K barrier and pushed the prices for these cars higher. It should be an interesting market to watch.
     
  22. wingfeather

    wingfeather F1 Rookie

    Feb 1, 2007
    3,493
    rock bottom
    I'd go for the TR.
     
  23. Jackmb1

    Jackmb1 F1 Rookie

    Dec 27, 2005
    3,297
    It will be very interesting to see what #16 sales for.
     

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