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Testarossa Price Trends

Discussion in 'Boxers/TR/M' started by Mr.Chairman, Dec 9, 2010.

  1. Shamile

    Shamile F1 Veteran
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    Dec 31, 2002
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    Shamile
    One big happy family in a car that doesn't need a dealership computer to be plugged into, is reliable and relatively speaking, keeps pace with inflation
    ...unless you bought it when Miami Vice was still on primetime TV ;) lol

    Shamile

    Freeze....Miami Vice!

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  2. Bradwilliams

    Bradwilliams F1 Rookie
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    #4227 Bradwilliams, Mar 24, 2020
    Last edited: Mar 24, 2020
    Bahahahahahahahahahahhhhh!!

    That's gotta be one of the most shameless sales pitches I've heard all year. What an ****** Call him back ask him what exotics he's buying right now! Tell him if that's the case you have a TR that you'll sell him for 250 grand! LOL!!!!!

    I will have to say that my all time favorite line that dealers and brokers used to justify the outrageous prices was

    "Oh the days of (insert mass produced car) are over!"

    LMAO :)

    And I also think that we're headed back to the 89 pop as we speak. The 07 one hurt but it was mostly muscle cars and a slight lift in F cars. Just like the 89 bubble, this one continued long enough and the money was cheap enough that EVERYTHING got pumped to high heaven. You gotta 1988 ford Taurus? "Yeah man but this one only has 10k miles on it and is a "time capsule" " I won't take a penny less than 27 grand! Hahahahahqaha
     
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  3. ChipG

    ChipG Formula 3

    May 26, 2011
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    #4228 ChipG, Mar 24, 2020
    Last edited: Mar 24, 2020
    We can all drink a martini together on Zoom

    Little off-topic but did you guys see the 1988 328 with 6k miles that just sold on BaT for $101k? That's really strong

    https://bringatrailer.com/listing/1988-ferrari-328-gts-12/
     
  4. V4NG0

    V4NG0 Karting
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    Dec 14, 2018
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    This is precisely what happened in 2009, which helped to inflate the collector car bubble. The stock market had crashed twice during the decade resulting in a ‘lost decade’, and so many people sold stocks and put their money in cars.
     
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  5. ChipG

    ChipG Formula 3

    May 26, 2011
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    I can see the ultra-rare cars like 250 GTO's holding their value and even going up but not Ferraris that were produced in numbers in the thousands.
     
  6. ago car nut

    ago car nut F1 Rookie
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  7. Bradwilliams

    Bradwilliams F1 Rookie
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    No car is going to be immune from this, no matter how rare. But cars like this will have only a mild decline.
     
  8. tbakowsky

    tbakowsky F1 World Champ
    Professional Ferrari Technician Consultant

    Sep 18, 2002
    15,001
    The Cold North
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    308 2 valve available right now for 30k usd...
     
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  9. Jay R

    Jay R Karting
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    Oct 6, 2017
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    Where?
     
  10. xplodee

    xplodee Formula Junior
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    Jan 3, 2017
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    I'm hoping I can pick up a 348 cheap within the next year for the wifey, will be a good opportunity!
     
  11. Bradwilliams

    Bradwilliams F1 Rookie
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    That's one of the few ferraris I would consider buying in the next 1-3 years. Wouldn't mine trying a targa one of these days. Beauty.
     
  12. Bradwilliams

    Bradwilliams F1 Rookie
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    #4237 Bradwilliams, Mar 25, 2020
    Last edited: Mar 25, 2020
    LOL that certainly didn't happen. The stock market nearly doubled during that time and your average joe schmo who had the means still didn't own a collector car. 99 percent of the popultion doesn't care about owning collector cars. But a lot of dealers brokers and "independent funds" Yanked an unbelievable amount of cars off of the market supply using the low interest rate loans, artificially inflating it. And instead of selling them back to the public, they stashed them in warehouses and shut off the lights. Which during good economic times, tricked some people into believing that the cars were harder to find, more rare, and were all of a sudden more "in demand". It wasn't real then and it still isn't real now. The supply of cars available began to explode back in 2016. It will only grow from here on out.
     
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  13. ChipG

    ChipG Formula 3

    May 26, 2011
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    I know a dealer out here in LA that at one time had over 100 Porsche 911 Turbos in a warehouse.
     
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  14. JSinNOLA

    JSinNOLA F1 World Champ
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    Mar 18, 2002
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    When was that?
     
  15. Bradwilliams

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    #4240 Bradwilliams, Mar 25, 2020
    Last edited: Mar 25, 2020
    And now those same people want sympathy, you can't make this stuff up. The whole point of owning a business is to provide something of value to your customer. Doing stuff like this is putting yourself and your own personal interests WAAAAY ahead of the people you are supposed to be servicing. I'm sure alot of them made a Boatload of money over the past 6 years slowly selling these things off. Also this mistake was made before in history (89), the information was out there for them to assess before acting on their greedier impulses and they proceeded anyway. But trees don't grow to the sky and good times don't last forever. Being so bold as to stash that many cars simply for your own personal gain and not acknowledging the Incredible amount of risk that you are taking is EXTREMELY reckless as well as deceptive to your customers and clients. They made their money, and now they're going to pay the price on the way out. What's the old saying? There's a price to pay for everything you gain.

    Like the other poster said, the impulsive people now want to return all of that toilet paper that they bought from the store. And the stores are now hanging up signs that say "no returns"
     
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  16. ChipG

    ChipG Formula 3

    May 26, 2011
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    I think he started selling them a couple years ago, not sure how many are left, he owns about 20 dealerships, a couple are Porsche franchise stores and has been an avid car collector and speculator for most his life.
     
  17. blkdiablo33

    blkdiablo33 F1 Rookie

    Jul 12, 2004
    3,213
    i would love to pick up a 05/06 gt
     
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  18. Natkingcolebasket69

    Rossa Subscribed

    Recession ? What recession!


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  19. ChipG

    ChipG Formula 3

    May 26, 2011
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    are you watching the 500 mile one on BaT? doesn;t it end today?
     
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  20. blkdiablo33

    blkdiablo33 F1 Rookie

    Jul 12, 2004
    3,213
    that was a strong price ,maybe the buyer is thinking gonna have to write a check for 265k plus fees and is thinking diffrently,a dealer offered me same price for similar car with a few miles less i really prefer the white n blue stripes .
     
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  21. blkdiablo33

    blkdiablo33 F1 Rookie

    Jul 12, 2004
    3,213
    thats exactly what dealers are saying lol
     
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  22. albkid

    albkid Formula Junior

    Jul 1, 2016
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    Where is the proof for that claim! The best stock analysts in the country have nothing to offer until company reports start coming in after the quarter closes.
     
  23. V4NG0

    V4NG0 Karting
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    It did happen. My clients and those of my colleagues during that time period were calling in saying to heck with the stock market and pulling money out to buy all kinds of tangible assets, including cars. Some just couldn’t stomach another deep, multi-year crash, which became very real again when the ‘flash crash’ happened, etc.

    I’m speaking from experience, not theory.
     
  24. LVP488

    LVP488 F1 Rookie

    Jan 21, 2017
    3,149
    France
    As far as Europe is concerned, the collector car bubble emerged around 2014, not 2009 - so it took 5 years after 2008 and a connection is therefore debatable.
    In 2013 I sold my Ferrari because moving abroad and did not get an impressive price, afterwards I have been looking for Ferrari prices (because I already missed a Ferrari) and they were quite low (lower than today, by some margin, including for cars of the '60s / '70s).
    They began to go up in 2014, which led me to buy my first (and maybe only) new Ferrari in 2015 - before, I always thought I got more value for money with a used one, and I have the feeling it's going to be the case again for me (value is subjective of course).
     
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  25. Bradwilliams

    Bradwilliams F1 Rookie
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    The classic car market was flatter then hell up until that january of 2014. So if what you're saying is true, then it didn't affect market prices at all. And while I do believe your story, I also don't believe that your friends are the typical American citizen with very good to extremely wealthy income. The stock market continued to have a bull run and classic car prices didn't go up until the dealers and brokers started playing the hoard card. I've only met one person in my life who employed your strategy and it was the same guy who bought my Maranello. Also, I know at least 5 or 6 families personally with 200 million and up net worth. None of them own classic cars, paintings, or have ever owned a classic car in their lives. That's my experience, not a theory.

    Some of them own planes, but other than that they all own a handful of properties all over the country pricey and otherwise, and drive s class benzes and LS lexuses with big suv for the wife. And all of them are in the stock market. If you met them in passing you would have no idea that they were wales.
     

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