After a very long an exhaustive search I finally bought a white Testarossa this past Tuesday. It is the car that Boracci Motor Group in San Francisco listed for sale in late January. I'd post a link to the sales ad but it looks like they already took it off of their website. It is a 1989 model with 14,400 miles. Clean Carfax. White exterior/tan seats/brown dash (same as the 'Miami Vice' car of course ) I had originally passed on the car because, like so many of these cars, it had no service paperwork/receipts prior to 2018. Obviously I am a big fan of that info. But then I started to do some homework on the car. It was bought early last year by a major car enthusiast (this was his 16th Ferrari and he has owned dozens of other high end exotics as well). He then proceeded to put an additional $20K+ (I have the receipts and invoices) and a lot of time and effort into the car to make it what it is today. I have communicated with him (great guy BTW) a lot these past few weeks to learn about what he had done to this car. After he bought it he took it in to Salerno Motorsports in Rocklin, CA. I was encouraged by the fact that Salerno seems to get mentioned positively by members on this forum frequently (Vincenzo being one of them.....thank you Vincenzo!). According to the Salerno invoice the following work was done: $8,110 for a 30K service (full engine out , leakdown test, all cylinders under 10%, replace belts, checked timing: OK, replace cam belts and tensioner bearings, replace valve cover gaskets, cam shaft seals and O-rings. Replace spark plugs, reseal water pump, change oil and filter, change transaxle oil, fill and bleed coolant system, flush brake and clutch systems. Refill A/C system, Pressure check and a road test) $750 to powder coat valve covers and cleaner $4,003 Clutch assembly $638 Fuel pressure regulator $180 Drain fuel tank....replace fuel tank cross over hose $380 replace battery, hold downs and cable $140 hood insulation pads $316 front hood shocks $165 Fuse panel inspect, clean and service fuse panel The total came to $15,330 (a few other minor things done as well). Then the car had this work done to it: $1,470 Remove seats and disassemble interior to install customer supplied carpet kit (Interior now looks great!) Replace front speakers. Reassemble $700 remove door panels and install Rodney Dickman window speed accelerators. Clean and lubricate window mechanism. Reassemble $280 remove aftermarket wiring $800 4 new tires $680 make and install test pipes The total for this work was $4,000 Other invoices for minor items was about $1,000 The seats were also re-dyed but I can't seem to find the invoice for that job. The front bumper was removed and resprayed ......so there are zero scratches or chips now Black trim around the bottom of the car repainted to look more "black" again. Replaced marker lights The dash does have the typical TR shrinkage, unfortunately. The past owner bought a new dash and had it color matched to the rest of the car. It was not installed before he traded the car in but it comes with the car. The guy that will be working on the car for me mentions that it takes a lot of work to install this piece. Probably $2500-$3,000. So I have to determine whether I want to do that or not. The car currently has a "cover" for the top of the dash in the meantime. He also went out and bought a new owners manual for the car and a few other things (a leather pouch?? Not sure what he meant by that exactly). It is not the luggage, though. So, net net, $20K plus of work was done to the car in the past 6 months The car also comes with a new red satin car cover I am not very mechanically inclined but I am guessing the above listed work puts the car in pretty good shape at this time. The one big negative (that I am aware of anyway) is that the front brakes squeak. A Brembo big brake kit was installed on front. Supposedly, according to Salerno, that can cause the brakes on this car to lock a bit under heaving braking as well. So, this is the big issue that I will need to address. I'll have my mechanic look at it when I get the car. He preliminarily thinks it could be something to do with the compound and brake pads but can't say for sure at this point. According to the past owner, the car scored "very high" at Concorso Italiano and won best Ferrari in its class at Niello Concours late last summer/fall. I really don't know much about either concours (and yes I know they are certainly not Pebble Beach ) but it can't hurt either. He sent me pictures of the car sitting on the concours lawn and admittedly it looked pretty cool The previous owner had his fun refurbishing, showing and driving this Testarossa, and eventually traded it in for a 458 Italia. Personally I never understood why people flip cars so quickly but I guess some guys get bored quicker than others. And it doesn't hurt that this guy has the financial means to do so. A fellow F-Chatter saw the car in person a couple of times while it was at Boracci. He did not drive it but PM'd me with quite positive things to say about it nonetheless. I have not asked his permission to name him so I won't. But he knows who he is and I'd like to thank him for all of his feedback! It helped me in my decision process. Many will find this quite difficult to ever comprehend but I did not go see this car in person. Whether I should have or not doesn't really matter at this point. I've bought several other cars sight unseen only AFTER I've conducted extensive homework and research on each of these cars....just as I did in this case. I didn't do a PPI either (more on that in a minute). So, since about half of the threads on this sight have to do with prices and valuations, most of you are probably wondering what this car sold for. The car was originally listed late January (2019) at $118,888. After a few weeks the price was lowered to $115,888. I think most here would concur that a 14K mile white TR with a very recent full engine out and ALL of the above additional work done to it would be conservatively valued around the $105-$110K level. I would tend to agree. I also personally believe that past service records are worth 3-5% or so of the cars value (one man's opinion of course. Not interested in starting a debate on that statistic). So, given the fact that some of that prior paperwork is not available on this car, knock $3-5K off and now you are at "fair value" of $102-$107K ish. That was the valuation process that I considered for the sales negotiations. Now, I believe we all agree that a PPI serves a big purpose. It does. In this particular situation however, I decide to take a chance. Salerno told me that the prior owner was an "open checkbook guy". They've worked on other cars of his and indicated that he is one of those guys that, if his car needs something done to it, then he does it. Period. Heck, the past owner told me the same thing. And after talking to him on the phone and hearing the passion about these cars in his voice, I could tell he wasn't bullshitting me. And keep in mind that the work was all done within the past 6-8 months (by a very reputable shop per Fchat). Sellers obviously get a bit concerned when a buyer wants to do a PPI. A large percentage of deals fall thru because of PPI's. If the deal doesn't fall thru the seller may still have to deal with potential price reductions if any serious issues arise in the PPI. So I decided to use my homework and "learned knowledge" of the car to help leverage my offer. I offered $90K cash with NO dreaded ppi. They turned me down as they had offers higher than that. Eventually we agreed on $93,500 with no PPI. Quick, clean, easy for both parties involved. I was happy with that number figuring I had another $10K plus in "savings" (off of the $102k-$107k valuation) to address any issues that may or may not have come up on in a PPI. We are leaving on a family vacation on April 20 and won't return until April 27. So the car will not be delivered to me until the first week of May. Admittedly I am a bit nervous and don't fully know wat to expect. But, hey, that's life! I'm considering putting Capristo exhaust on the car. The mechanic I will be working with worked on 8 Testarossa's last year and said one of those owners put Capristo on the car. He said it sounded so awesome that he called all of the other TR owners over to listen to it Finally, I want to thank NatKingCole for all of his "behind the scenes" help educating me about these cars. His passion and knowledge of TR's was a significant help in my purchase!!