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Is ferrari market SLOW ?

Discussion in '308/328' started by tommyworld, Dec 10, 2004.

  1. tommyworld

    tommyworld Rookie

    Jun 1, 2004
    33
    San Diego
    Full Name:
    tommy g
    I've been trying to sell my 90 TR for a couple weeks now and haven't had much luck. had some tire kickers (by phone) and of coarse the lowballers at first but then not much action after that. Am i wording it wrong, too high price, too many miles, wrong time of year ? I've been looking at others on the internet and the ones i call on are not selling either. Now i see two f-chatters bought TRs so someones buying. anyone else trying to sell their ferrari right now? should i wait till summer? thanks in advance.
     
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  3. Tomf-1

    Tomf-1 F1 Rookie
    Silver Subscribed

    Jan 17, 2004
    4,475
    Leawood KS/ South FL
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    Thomas
    1st....and foremost..... what r u asking 4 it? :)
     
  4. BigTex

    BigTex Seven Time F1 World Champ
    Rossa Subscribed Owner

    Dec 6, 2002
    74,279
    Houston, Texas
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    Bubba
    I'd say yes.....where is your ad?????

    SEVERAL users here HAVE bought or sold recently......so be willing to tweak the deal!

    Lamarossa is looking! (a joke).........

    The saying "The rich will always be rich" apllies, IMO

    HTH
     
  5. GrigioGuy

    GrigioGuy Splenda Daddy
    Global Moderator Owner

    Nov 26, 2001
    25,315
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    Chris P. Bakon
    I think it's just a bad time of year. People are focused on Xmas time and half the country is snowed under now.

    My car is for sale but I don't need to sell it. I'm seeing the same slow pattern. I really want the car to sell to a local guy so that they know what they're getting and can touch, see, smell the car before purchase, so I don't mind it taking a while.
     
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  7. tommyworld

    tommyworld Rookie

    Jun 1, 2004
    33
    San Diego
    Full Name:
    tommy g
    Collector car trader, here, cars.com and i am going to try LA Times. i lowered the price 4k and then put new P-Zeros on rear but still no action. I don't need to sell so I can wait till better time. thanks
     
  8. bpu699

    bpu699 F1 World Champ
    Silver Subscribed Owner

    Dec 9, 2003
    13,127
    wisconsin/chicago
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    bo
    Tom, if I were in California I would likely have looked at or bought your car...its just a location issue.

    I had my boxster s for sale for almost 9 months with zero serious hits, and I had it listed pretty low. Finally traded it in at a loss (Paid 30k$, trade 24k$ - after 1 year). Such is the market...

    Did you try to wholesale your car - just curious what the dealers offered...pre 88.5 testarossa's witha recent major seem to wholesale at 45-47k, or so according to LFSC...

    While looking for testarossa's, I noticed that most dealers had the same cars as last year - especially if they were on consignment with no carrying costs...

    Your price seems reasonable. Good luck!
     
  9. Steve Magnusson

    Steve Magnusson Two Time F1 World Champ
    Lifetime Rossa

    Jan 11, 2001
    20,279
    Texas
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    Steve Magnusson
    Tom -- some of my $.02:

    Dropping the ask to $59,500 is a good move IMO. Being a 5-lug in red, it should have a price step up over a single-lug metric-wheeled TR. Some questions:

    How's the CARFAX? Although I agree with the naysayers that a good CARFAX is no gaurentee of anything, a bad CARFAX is always a negative factor even if untrue (i.e., if the CARFAX is clean, say so in your ad).

    The Tubi should be a plus, but are the cats and precats still in-place and intact? If it's always passed emission testing on the first try, I'd mention that too.

    How's the dash? If it good, it's another thing to note in your ad.

    How recent was the service and by whom?

    My nits:

    Normally, I'd give a premium for the 512TR wheels, but in the chrome finish, I'd have to give a small negative.

    Fender shields seem to be a very emotional issue -- IMO, it's more likely that a buyer would prefer sans rather than con.

    (Although it's a little irrational) 34K miles is high-ish -- only because you're competing with a lot of GQ's. If you've been driving it regularly, I'd add something like: "Well-sorted, driven X miles per year over the last Y years."

    Just some random thoughts...and all JMOs...
     
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  11. 348SStb

    348SStb F1 Rookie
    Owner

    Tom,

    Take into consideration also that 34,000 miles is a lot for any Ferrari, and especially a Testarossa. That's high mileage and accordingly the market for your car is greatly reduced.

    Folks: let's not have a debate over "high mileage." I know there are people on this board who have tens of thousands of miles on their Ferraris, and that's great. But you are in the extreme minority. Probably 90% (or any other super-high percentage one wants to suppose) of all Ferraris ever made, to this day, have less than 20,000 miles on them. The Ferrari buyer who buys a Ferrari with over 30,000 miles is much harder to find than the one who buys a car with less than 20K or 10K miles.
     
  12. tommyworld

    tommyworld Rookie

    Jun 1, 2004
    33
    San Diego
    Full Name:
    tommy g
    Hey Steve & Bo thanks for the input. As far as your questions Steve,
    1) Car fax is excellent vin # ZFFSG17A1L0084747.
    2) Dash is Very Good, two small corner shrinkages, no vent shrinkage
    3) Service done 3 years and 6k miles ago by ferrari authorized shop
    4) Interesting about the chrome wheels cause I love them but also thought some people wouldn't. very easy to clean.
    5) I do drive it almost every weekend for the 2 years that i've owned it even if it was just a 30 to 40 mile loop.
    Maybe I will add some of this info to the adds and see what happens. thanks cause i like hearing other ferrari owners opinion.
     
  13. 348SStb

    348SStb F1 Rookie
    Owner

    Hi Tom,

    As far as writing the ad is concerned, I'd say you've got the right thinking. Show that the thing works and that money has been spent on it so that the buyer doesn't have to spend money. Saying that you've driven it every weekend helps you out... the car works! Describe what money has been spent on the car over those 34,000 miles or at least during your ownership to ease the concerns of high-mileage skeptics.
     
  14. OmegaSteve

    OmegaSteve Formula Junior

    Sep 18, 2004
    570
    Hertfordshire
    Full Name:
    Steve
    Dave,

    I must admit that your idea that 90% of Ferraris are under 20k miles is in fact complete and utter rubbish...just thought i'd say!
     
  15. 348SStb

    348SStb F1 Rookie
    Owner

    Not rubbish my friend.

    People on this board who have tens of thousands of miles on their Ferraris think it's common. It's not.

    As we speak, there are Ferrari models, from the early years straight through to today, locked away somewhere with very low mileage. You can get any Ferrari you want at any mileage you want.

    As I said, one may suppose "any other super-high percentage."

    Let's just say that A LOT MORE THAN 50% of all Ferraris ever made have less than 20K miles on them. I challenge anyone to dispute that.
     
  16. tommyworld

    tommyworld Rookie

    Jun 1, 2004
    33
    San Diego
    Full Name:
    tommy g
    hey Dave i agree that most people look for low mile ferraris because that is the quickest history check you can do on a car, but when i bought mine it had 28k miles on it and after driving many others with much lower miles, it was a no brainer that this was the best value that i had found. i think that if more people were properly educated on how to choose the right car they might stay away from the 10k, hardly driven ferraris. The previous owner told me how he enjoyed driving the car and all of the places he went in it. He also had it for the last 4 years. that meant something to me because i wasn't hearing 2nd hand from some salesman what he heard about the car. I think your right though that miles play a big part in the sale. i might just build another garage, keep it, and put 100k miles on it. maybe my next add will say : 100k TR for sale, had lots of fun..................
     
  17. OmegaSteve

    OmegaSteve Formula Junior

    Sep 18, 2004
    570
    Hertfordshire
    Full Name:
    Steve
    A more realistic figure would be 50% but again, can and is only a subjective figure. I would argue all day it wasn't 90%........IMO
     
  18. brent Lachelt

    brent Lachelt Formula 3
    Silver Subscribed

    Dec 6, 2003
    1,815
    Brownsburg, INDIANA
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    Brent R.Lachelt
    Tommy,

    I sold my 308 a month or so ago. It had 91,000 miles with major service done 2 years ago and got $25,500. Was asking $27,000. I used the LA Times and got many calls. Sometimes a couple a day. You only get a few lines and it was about $240 for 14 days including two Sundays, but it gets the responses.

    Brent
     
  19. bpu699

    bpu699 F1 World Champ
    Silver Subscribed Owner

    Dec 9, 2003
    13,127
    wisconsin/chicago
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    bo
    Here is some further thoughts, as I just finished shopping. I wouldn't have minded a 30k mile car, BUT it had to look brand new. I mean no wear, no scratches, interior almost perfect. Part of the joy of these cars is their dramatic appearance - and I wanted to feel like I just bought a new car.

    I just wouldn't pay 50 some odd thousand for a used 20 year old car...but I would pay it for a car that looked like new. Most of the cars with 30k miles I looked at looked poor- these cars just don't wear well...

    Yes, there may be some mechanical gremlins to work through - will deal with it when it comes.
     
  20. 348SStb

    348SStb F1 Rookie
    Owner

    I agree with everything you've said.

    I'm just the messenger reporting on how things are--not espousing one view or another :)
     
  21. parkerfe

    parkerfe F1 World Champ

    Sep 4, 2001
    12,887
    Cumming, Georgia
    Full Name:
    Franklin E. Parker
    After owning 6 Ferraris over the years, I have test drove many more. What I have noticed is that there are a lot of Ferraris out there that have low miles indicated on the odometer, but far fewer with real low miles. Unless a lot of folks just get in and out of their cars alot and press the throttle pedal without driving the car , I suspect that there have been a lot of speedometers disconnected over the years. You just don't get a lot of seat and throttle pedal wear in 5k miles. I know I drove my ex-TR over 50k miles and it still had paint on the throttle pedal. And, while the drivers' side seat bolster did show some wear, it was not nearly as bad as I've seen on cars showing only 5k to 10k miles. I have driven my Boxer over 8k miles in the last 22 months and have not worn the seat bolster one iota. While I know that there are some true low mileage Ferraris out there, remember, caveat emptor!
     
  22. tommyworld

    tommyworld Rookie

    Jun 1, 2004
    33
    San Diego
    Full Name:
    tommy g
    Bo, i hear what your saying but my car looks like or better than all the 10k & 20k cars i drove. and mechanical gremlins are not something i would want to work thru on a 10k car, because after all, you definitely pay a premium for that low milage and to think that you might have to pay again defeats the whole low mile ,security thing. doesn't it ? Any quality automobile will "wear well" if the owner(s) take great care and pride in that car. I almost bought your color TR with much lower miles but it was repaired way too much for such low miles. that told me it was not properly cared for. All i'm saying is that the history of the miles is more important than the amount of miles.
     
  23. jimangle

    jimangle Formula 3

    Nov 5, 2003
    2,439
    Haverford
    Full Name:
    James
    If I was in the market for a TR, I'd probably buy yours. I've seen 14k 308's with the a/c marking rubbed off of them, and extremely dirty leather. The mileage thing is rediculous with these cars. 30k miles should not be a lot for a testarossa. If the car has been taken car of, and leaks nothing, and runs great, mileage is just a number. These cars were made to run, and run hard. Then again, I guess most of the people that buy these cars don't drive them for what they're intended anyway. Now if the car has 30k miles on it, and still has the original oil filter, and the belts need to be done, that's another thing.
    Your car should sell. It's probably just the wrong time of year.
     
  24. dexter

    dexter Karting

    Nov 22, 2004
    137
    Bay Area, California
    Full Name:
    Dexter
    Tom,

    After talking to you about the car 3 or 4 weeks ago, I had a great feeling about your car & I knew that you took care of it. If I knew you were going to sell it for the low $60k then I would of bought it. Unfortunately, as you are aware I bought one already. I have been watching the market very closely in the last month due to my recent purchase. I know what is out there and for your price I think it's pretty price competively; my own 2 cents.. I would not go below the $59,950 price range. I know the mileage is a little high but by your details all somebody has to do is drive the low mileage car and drive yours to know that yours is in a great shape.


    If you want I can post it in craigslist for you. Just let me know..
     
  25. BigTex

    BigTex Seven Time F1 World Champ
    Rossa Subscribed Owner

    Dec 6, 2002
    74,279
    Houston, Texas
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    Bubba
    Yea, when I go past 30K miles in my Ferraris they fall to pieces....

    My Johnson fell off at the same time! Lucky it went into my boot so my gf can still ----- it!

    Your full of it, bro.........


    Go try to crank and drive a 30 yo car with low miles.......yea, they are HOT sellers.
     
  26. BigTex

    BigTex Seven Time F1 World Champ
    Rossa Subscribed Owner

    Dec 6, 2002
    74,279
    Houston, Texas
    Full Name:
    Bubba
    My first wife is low miles, I'll give you a sweet deal............
     

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