Testarossa Price Trends | Page 182 | FerrariChat

Testarossa Price Trends

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

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  1. Shamile

    Shamile F1 Veteran

    Dec 31, 2002
    6,712
    Lakeland FL
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    Shamile
    Car guy!

    Sorry to say but your gut thoughts are correct.
    Forget about a recession but post pandemic, business has changed. All these companies are coming up with remote work and AI solutions. Companies will use this as an excuse to get rid of people under the guise of bad conditions...but really to implement lower cost technology solutions.
    Commercial real estate and it's related infrastructure has a huge hit coming when things pick up again.

    Shamile

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  2. Shamile

    Shamile F1 Veteran

    Dec 31, 2002
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    Shamile
    ...on a thread related note,

    I had a solid offer for $69,000 for my 74,900 mile concours condition 91 Testarossa......I refused.
    Again, what's normally said is that a car is worth what someone is willing to pay for it. What it's really worth is where there's a meeting of buyer and seller.

    Like some have said, if the price drops, the good cars won't be offered for sale anymore. I'm fiddling while Rome is burning and don't need to sell so I'll remain patient.

    Shamile

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  3. 5859

    5859 Rookie

    Apr 5, 2020
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    Hess

    Man, I love your car. Been patiently waiting, watching, lurking... refused a $69K offer :eek: I woulda been be all over it for that... $69.5 do it? :D:D (no disrespect intended, only reason I opened an account was to PM you, but then I kept reading and learning):cool:
    I also saw your honest opinion about the market and how some great deals are coming if we just wait 6-8 months, maybe a year. Im a 110% nubee, always been a dream to own a Ferrari and until recently when a local one popped up for $55K I didn’t realize that the Testarossa was the one! Also a very comfortable (read safe) "starter exotic car" price. Of course, I had to take some time to research it and then I came across FerrariChat and your car... also this thread. A couple of buddies with Murcielagos were advising me to buy it, however, after seeing Shamiles car I knew that the local one wasn’t the one for me.
    I was very active in the car forums about 10 years ago and seems like FB killed them all, but between my desire to own one and quarantine, I have devoured lots and lots of related topics here, its refreshing to still have this type of network and information available in this "15 second" video era.
    Anyway, this is kind of my introduction, not sure if Im supposed to do a formal one. In the mean time I'll keep reading and learning, thanks for reading.
     
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  4. Shamile

    Shamile F1 Veteran

    Dec 31, 2002
    6,712
    Lakeland FL
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    Shamile
    Welcome aboard!

    If you're interested in a Ferrari, fchat is the place to be...no matter what model.
    The Testarossa board is a great resource. Not only can you find information on the car but how to work on it as well. Besides a lot of DIY'ers, there's a few professional techs and shop owners that lend a hand as well.

    I posted the offer because it was genuine and even though low, I felt it worth mentioning here as a data point.

    This thread is great for a buyer like yourself. It's not a cut and dry data point price list but full of discussions and arguments over why a certain car went for this much more or this much less.
    Of course we all want our cars to fetch top dollar but things like maintenance, condition, miles and where we are in the economy matter.

    The 55k cars sounds too low. We are just at the beginning of this coming economic crisis and prices wouldn't have fallen so far just yet. So....make sure about when the major service was last done, how many miles and it overall condition. The last year Testarossa (91) is 29 years old now....maintenance and condition is more critical to verify than say on a 458.

    If you do have any interest in mine, you can always pm me with questions. If you have general Testarossa sales and values related questions, post them here. We'll do our best to answer them.

    Btw you said a few friends with Murcielagos recommended you to mine? Are you Florida based and part of our secret gathering in Kissimmee?

    Shamile

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  5. 5859

    5859 Rookie

    Apr 5, 2020
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    Hess
    Yes I agree the $55K car (actually it was $56) was low and thats why my antennae went up... It did need lots of work but that was the spark that I needed which led me here and to your car. My buddies were telling me to buy the cheap one, not yours. My mistake the way I wrote that. Yours I found here after doing some research on the TRs. I'm in SLC UT, not in FL.
    Here is a copy of the ad, its already been sold. Sold in 2 days, I looked at it but based on my lack of knowledge I decided to research TRs and Im glad I did. Yours at your asking is a great deal compared to this one. I read here something like "the cheapest Ferrari is the most expensive one" and I totally get that. Thanks for the reply and look forward to learning and sharing on here.


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  6. Natkingcolebasket69

    Natkingcolebasket69 F1 World Champ

    Not bad but 55k+20k of work is a 75k car so in the end sort of market price.
    Im curious to see how much will really sell for al the TRs we currently see on the market at 120-130k with 10-15k miles... seems that 100k would be fair vs maybe 115k before this pandemic but have not see or heard of new sells recently...
    Shamile glad u are resisting :69k was a fair offer!


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  7. Shamile

    Shamile F1 Veteran

    Dec 31, 2002
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    I wouldn't consider it. If I were to look at the Testarossa market for my own car in terms of condition and maintenance, I don't find it.

    Shamile

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  8. 5859

    5859 Rookie

    Apr 5, 2020
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    Any input on European VS Japan VS USA cars (LHD) to purchase
    90-94 TR and 512TRs?
    Not so much the differences in the models which I've been able to find on Red-headed.com but Im asking about purchasing a car.
    obviously history, recent services etc matter anywhere, but what else? What to avoid, expect, what suggestions?
     
  9. Shamile

    Shamile F1 Veteran

    Dec 31, 2002
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    Not a bad looking car from all the photos. I think the low price is reflected in the body work ( accident) and "rebuilt " engine. The Testarossa series engines are very robust and durable. They don't need to be rebuilt...especially at 45k miles. Those two things raise red flags.


    Shamile

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  10. Shamile

    Shamile F1 Veteran

    Dec 31, 2002
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    If you're in the US, stick to US cars. The European and ROW markets use slightly different parts and they're more difficult to obtain over here.
    Regarding the 512 tr, that's a whole different car and price range.

    Shamile

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  11. 5859

    5859 Rookie

    Apr 5, 2020
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    Yes, makes sense to buy in the US if Im here. I read somewhere that Japan cars are sometimes beat, or rarely driven, and whatever paperwork, tools or history is lost by the time they make it back here. So, thats why I was wondering about the challenges or benefits of purchasing overseas. You make a good point about parts availability. Plenty of TRs to pick from in the US, so I guess my question was directed more for the 512TR. I realize is a different car, way more money and less made, so thats why I was looking at options outside the US.
     
  12. Shamile

    Shamile F1 Veteran

    Dec 31, 2002
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    You're going to have to narrow your decision making to either the Testarossa or 512tr and then do your research as they go in different paths.
    ....even though they look the same ;) lol

    Shamile

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  13. 5859

    5859 Rookie

    Apr 5, 2020
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    I didnt want to be the one to say that...:D
    Im def leaning toward the 512 now, not sure if this thread also examines the 512TR trends but lots of the comments and concerns seem to cross over
     
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  14. Shark01

    Shark01 F1 Veteran

    Jun 25, 2005
    5,687
    Good call, always try to buy the most special car you can afford if value retention is important to you.
     
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  15. Jay R

    Jay R Karting
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    Oct 6, 2017
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    I’d also wait! Price correction coming!
     
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  16. Zeff

    Zeff Formula Junior

    Oct 8, 2018
    678
    Cupertino, Ca
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    Ryan
    I wouldn’t pin all my hopes on car prices coming way down. Can it happen yes, but right at this moment more things have to happen in the Economy to make that happen. With all sectors declining. Some here have said for instance that Real Estate prices along with everything else is dropping. This isn’t so, Real Estate prices in my area haven’t budged despite all of this. In fact its probably the strongest sector. A home recently sold in my area for full price with multiple offers. The fed is helping at this time to pull the stock market back up. We would need a big pullback on the stock market and housing. There has been massive job losses but these are generally low paying jobs. I know of people who are out of work that use to work at a restaurant I use to eat at for example but they don’t buy Ferrari’s. Short of that, no one that I know of have lost there jobs. These are all high tech people who simply work from home. These are the types of folks who have the high paying jobs to by a Ferrari or any other expensive car. Yes there net worth has dropped a bit but most of them don’t have all of our eggs in one basket. My world hasn’t come to an end and I don’t expect it to realistically. Most of this is overreaction. But Let’s check back in about 24 months and see were we are at. What I would say for someone buying any expensive car is, I would not be taking on alot of debt to make it happen. Pay cash for it or use a short term loan of 12-24 months or don’t buy it. Now is a good time to be without a lot of debt. Just be prepared, no one can predict what will actually happen. I’m just saying my strong guess is, it’s not going to effect the car market that much unless everything shuts down. If that happens you probably won’t be worried about buying a Ferrari. Your financial world will truly be coming to an end. That isn’t happening now and I don’t see it happening in the near future based on this current crises.
     
  17. Shamile

    Shamile F1 Veteran

    Dec 31, 2002
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    While a very good analysis, we are only at the front end. Everyone thinks covid 19 is just the problem and we'll have V shaped recovery afterwards. Wallstreet is drinking that koolaid right now. Wait until second quarter earnings and the bears start to roar.
    There was already a lot of underlying issues in the economy and c19 was just the pin. I say enthusiasm and mindset changes after 6 months to pessimism and a drop off in all asset classes going forward.
    I think the real drop in exotics will be the new ones with FNA and VAG financing and leases. Look for the big hit in 458. 488, Aventador and Hurican prices.
    The old stuff like ours will drop but will you find a great deal on a Testarossa that's in good shape and up to date on maintenance?

    Shamile

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  18. Natkingcolebasket69

    Natkingcolebasket69 F1 World Champ

    #4543 Natkingcolebasket69, Apr 15, 2020
    Last edited: Apr 15, 2020
    U may very well be right. Not sure about Testarossa but the asking price will stay and they may very well just sit a tad longer except for people/business I’m need for cash which will get u a good deal. Nothing new really. If u look at the bring a trailer car, most of them stayed on sale for months or years before hitting the platform and sell at a more reasonable price on there. More of the same to come I’d say


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  19. Zeff

    Zeff Formula Junior

    Oct 8, 2018
    678
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    Hello Shamile,
    It’s been a while. I agree with you on your analysis of the stock market. It’s hard to really know what will happen with the stock market with the fed artificially propping it up. I personally feel like it will pull back and test the lows but I think the fed will pull out all the stops to try and prevent it from happening. But even if it does, we would also need the Real Estate to pop as well. People would need to feel their wealth dissipate. We are no where near that happening yet. Both primary sectors would need to fall significantly and or massive job losses across the job sectors. I don’t see that happening either at this time or in the near future.
     
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  20. Shamile

    Shamile F1 Veteran

    Dec 31, 2002
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    Hey Zeff,

    Hope all is well with you.

    Here is why I respectfully disagree.

    78% of Americans live paycheck to paycheck
    48% of Americans are one paycheck away from bankruptcy
    Most Americans don't have 1000.00 in savings.
    Most Americans don't have 400.00 for an emergency.

    It begins as a cascade downwards then it's 2008 all over again.

    Here's a good article.

    https://www.zerohedge.com/markets/5-reasons-why-v-shaped-recovery-fantasy



    Shamile

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  21. Natkingcolebasket69

    Natkingcolebasket69 F1 World Champ

    I went to a tony Robbins conference and he mentioned those numbers so I agree... not sure ppl learnt from 08-09... at least now banks are well capitalized


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  22. Shamile

    Shamile F1 Veteran

    Dec 31, 2002
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    Most people have definitely not learned!

    ....especially when it comes to the banks.

    When things are great, they literally beg you to take their money and when you need them in a downturn, they're the first to pull the rug out from under you.

    I learned that the hard way in 2008. I have no need for banks anymore.

    Shamile

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  23. Bradwilliams

    Bradwilliams F1 Veteran
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    #4548 Bradwilliams, Apr 15, 2020
    Last edited: Apr 15, 2020
    Zeff It's all noise. We have become a nation of renters and not owners. Banks own way too much residential property. Property is coming down, there is no way around it. They tried QE back in 2007 and housing still lost 60 percent and a terrible recession came afterward. In 1929, they tried injecting a bunch of private capital into the stock market and it couldn't stop the momentum. in the early 90s they put out the flames of the S and L crisis with the public having little to no knowledge. A recession still came afterward. Once a recession hits, there is no stopping it and any money used to put out the fire is money evaporated. It doesn't change anything. You are watching the same movie but are expecting a different result.

    Toys dont need real estate to tank in order to go down in value, the recession takes car of that. IN a recession the toys are the first thing to go. Cars, boats and jewelry are all on the block first. Not the other way around. They dont come back up until the bull market has legs. People have to feel comfortable gain before buying them. Which takes forever. But in this case it will take 5x longer due to the fact that the CC market was a bubble.

    You either own cash or gold and you nibble at the market after it tanks again. Or if you have brass balls you can try shorting. No Ferrari is going to escape this, vintage included. The fact that so many people still think otherwise just shows me how crazy the whole thing has become. It's almost cult like.

    Buy a Ferrari, any ferrari, and it will never go down in value. Only upward for eternity, the recession is just a blip, prices will be back to normal in no time flat! There are a bunch of people that literally believe that. That alone tells me all I need to know.

    If you want to watch the cult mania in real time, just hop on bring a trailer and look at the comments. That site is ground zero for the CC bubble and is a riot to view. They're the dumbest ones left in the room and still haven't realized that all the chairs are gone, and the music stopped playing a month and a half ago. Still dancing.
     
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  24. Jay R

    Jay R Karting
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    Oct 6, 2017
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    I’ll say it again. Right now is not a good indicator of anything. The market is shut and being propped up by literally trillions of dollars. It’s 100% not sustainable.

    It’s all a question of when the market reopens because the longer it’s shut the worse it will be when it reopens which is when the real pain will be felt. More, lots of jobs in large employers have been guaranteed by their CEOs until end of 2020. You wait till end of the summer until end of January when no bonuses will be paid. It will be very bad and you’ll see assets being sold en masse. Testarossas will be carried along in that flow regardless of demand for them specifically. If the market goes down in a big way, it applies to everything.

    I wouldn’t buy a car now. I’d buy Q4 20 or Q1 21. Just my opinion.
     
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  25. Jay R

    Jay R Karting
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    Oct 6, 2017
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    Brad, re: property values. Now this is interesting. I wouldn’t want to be anywhere near corporate real estate right now. Employers and employees have realized that working from home isn’t the preserve of the checked out workshy but it actually can be done. Add that to the fact that no one will want to go on mass transit or an office full of,people for a very long time and you’ll have lots of companies with very expensive properties that are worth a fraction of what they were. This will lead to two things:

    (1) More people working from home.
    (2) More demand for residential property further away from big cities.

    I wonder therefore if you’ll find property values going up in due course for areas that are just outside of the normal commutable distance.
     
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