Testarossa Price Trends

well ya know that's how it goes. sometimes I see a car and say I could buy that. then the bidding doubles, or the car sells for way more than it should like the 2002 Maserati coupe for 24k? what?

 

yes ive met some guys from here locally and its a lot of fun at the fuelfed meets

 

People really struggle when they see their ferraris not being valued to their liking, maybe it’s ego I don’t know. Truth is I encourage people to try to sell on and they will see it’s a tough sell; I also encourage them to see what they would get for a trade and, for a regular 100k private party car, they will not get much more than 80k.
If you have a classiche, low miles etc yes u will get a different number. Also depends on what you buy...but dealer always win


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I can agree with that. But its hard to know a sellers situation. When I sell stuff its listed less than everyone elses. its like selling a house ,ask market and make payments till it sells or price to sell and get out. Like 360s right now everyone wants in the high 60s for f1 with similar miles. id go 64 65 just to get calls

 

When I sell a car, I gather comps from within 200 miles and come up with an average price. Since Im super anal, Im fairly confident my product is well above average because there are no stories, accidents, CEL codes etc. So I price it slightly below the average asking price. Most of the time I have sold to the first buyer that has made the trip put to the house. Since I bought smart in the fall or winter months, the yearly profit/loss buffer is already baked into my plus side.

Im not trying to make a killing, im just trying to roll the profits into the next ride.

Like you, I usually have another deal in the works and know when its better to let go early for a small loss to make up more tomorrow on the new deal.

 

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2 more sold this weekend roughly 100k. My Hagerty membership coming handy Adding them to the spreadsheet.
For some reason Hagerty had not updated just yet their records with the BJ auctions and Gooding but it will shortly I’m sure.


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Did you see this one?

https://www.bonhams.com/auctions/25101/lot/85/?category=results&length=90&page=1

 

Wow. 20k classiche at $85k. Amazing buy.

 

Of course it is already accounted for on my spreadsheet and mentioned on a previous post where is shared it.
I’m a number geek


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All cars are selling low at Barrett right now so I don't think it is a good indicator at all.

 

Speaking of Pricing. I really thought the 1993

Moss, unfortunetly you have to take the good the bad and the ugly. Whatever the sold prices are at auction are very much true indicators of the market whether it be high or low. Hagerty specifically relies on these numbers to list their evaluations on cars. Also, look at it another way, if you say these are all way to low but all other cars that are listed are higher and correct, where would a smart buyer go to get a better price. They would just go to an auction and get a so called deal. But it isn’t a deal at all it’s just the market. People go to auctions with the specific intent to buy a certain car or cars because they know they will be running through. When I watched several 512trs run through at various auctions over the past few years they were all within a similar range at which I’m still seeing today. Condition and mileage being similar of course. It’s funny when I was watching that car on bat 1993 512tr given its condition I knew that car was worth on the low 120k-130k and even said that early on in the auction. I’m somewhat surprised that car hit the higher end because it will cost far more than it’s worth to get the car up to a better condition level. I mean if one waits you can find a 512tr whether it’s a 1993 or not with probably lower miles and much better condition all original for 165-175k guaranteed. You just have to wait. Doesn’t make good sense to buy a car like that unless you just leave it as is. 512tr wheels on eBay are 6500. Now your into it at 135k. Paint is minimum 20k. Bare metal correct paint job. Could go to 25k. Now you’d be at 155k plus worn interior parts etc. a lot of unknowns which usually translate to more money spent than needed. Get a nice car up front for 165-175 and avoid all of that. Plus the mileage was higher than what I could get on another car. I would have bought that car for 120k. Not to mention the arrogance associated with the seller and some of the other people on that thread. One guy said the car was worth 160k all day long, lol. Clearly he doesn’t know the market. The market spoke yesterday 120-130k.

 

Now I’m starting to realize from that auction what some of you have said here. Some people are trying to influence or pump the market. It just won’t work. I wouldnt waste my time with that. If I was wanting to pump anything it would be a hot woman not this. That being said I do believe some of these 512trs with super low mileage are worth 200plus for a pristine car. But I’m also saying you can get a super nice car for 165-175. Worst case push to 180k. But this is a fair range I would work off of. It’s safe.

 

My understanding of BJ is that a lot of auctions were for charities. I don’t know if that is specially true for the TR but when you see the 3 other selling in Scott’s during auction week for 86k, and 2 in the 105k it could be a reason why...

As far as that 1993- I offered in July 120k , was told 130k... the car has been for sale at 160k then 145k for close to a year... I think the buyer got a good deal overall, minus obviously some elements. Different budgets for different people.

They also have a red one that is down at 175k and I’m 99% sure it used to be offered for over 200k a few months back. It’s a consignment.


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Nat, no BJ are not mostly charities. With some cars going through as a charity but they announce which cars are as such. They are private owners, dealers like all other auctions. People try to make excuses why prices are what they are at these auctions. What you really don’t truly know without being there is the true condition of the car. They may have beautiful pictures of the cars but in reality the car is not that great. Seen this many times. I believe I am very in tune with the 512tr market which is completely different than the testarossa market which I don’t follow very closely. I did personally call autosport design and spoke to someone there I don’t remember his name, I may have an email but they said they would take 130k for the black car and 160ish for the red one. There is no way that car is worth 200k stupid initial asking price. Someone fishing for a sucker. Why would anyone pay 200k for that car when they could go and get let’s say that yellow car for around 200k with 8800 miles and is probably perfect. Stupid car dealer, typical. He says he tries to be fair with his pricing and knows his business. Not in my book. After the little experience you had with them I would never buy from them. I’d go to a real repuable dealer such as cats again. They didn’t play a whole bunch of games or try and overly pump up the price of my car when they were selling it. They already knew what the market was. I spoke with them about it and they agreed with my assertions early on. They knew right now the market is a little soft. Neither they nor really the seller where worried about that fact, they just lowered the price. I know the seller initially believed the car was worth the older high price point 290k but he did realize that the market had changed. Many sellers go through this. Ex: My home is worth 1.5 two years ago but now it’s only worth 1.2 and many can’t take the step back or adjust for the price change. They will quickly adjust as it goes up.

 

As you can tell I don’t like car dealers. Most no matter what anyone says are try to get every dime they can out of you. Seen this my whole life. When u call them on it they get extremely mad. As long as I know who they are when dealing with that kind of person it’s no big deal. I trust many people in this world but trust few car dealers.

 

I agree. They’re rabble most of them.

 

Yes and if you were on bat you see how he responded to Nat as well as me. Then he deleted my conversions. I called him on it and get mad like a little baby. I’ve done this many times to stupid car salesman. The last one I dealt with on a new car tried to sell me the extended warranty and paint protection. I asked him how much and he said for both about 5k. I told him no on both and he said I was a fool. I asked him if he understood what self insure means. He looked bewildered. That idiot almost lost a sale due to being ignorant, stupid and arrogant. These are some of the most common games. Oh this car is so rare in this color you’ll never find one like this again that’s why we are charging you more. Ok no problem I’ll just look at different colors. Lol

 

Don’t stress too much- it’s just testarossa’s prices


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They focus almost entirely on ‘qualifying’ the lead rather than the customer service that the customer craves and all in an industry where personal word of mouth and reputation building is everything! People just LOVE being treated as a ‘lead’!

Yes, I saw the BaT conversation and I loved what you said. Saw all of it before it was deleted.

 

No I’m not stressed at all. I just don’t like it when some of these people are trying to get over on others who don’t know the market very well. Just want to put them in their properly light. That’s the least I can do.

 

Meanwhile I am maintaining my little spreadsheetlol


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Long may it continue, Nat! It’s very helpful.

 

Why would anyone as a customer or potential customer would you ever kiss the but of some dealer. Looked like many were doing that on bat. Pathetic

Ill give you guys another interested thing to do. Call one of this dealerships like Newport Beach Ferrari etc and tell them you have a 512tr for sell and may want to list it with them and see what their real input is. That will give you a better perspective and is fun to do. I called one dealer and told him I had an ultra low 512tr for sale in perfect condition and he asked what I wanted for it. I told him around 200k and he laughed. Classic

 

Again, its a down time for even extreme cars. Its an anomaly so buy now because these prices will hit market again. Don't sell unless you
have to. Selling now is like seeing the stock market take a plunge and liquidating your stocks. They will go back up when we get past the
buyer confidence problem because of the government issues and stalemate.

 

These things are cyclical. All classic and exotics fall in and out of favor when you watch them over time. It’s a great time to buy one or buy a second one. It’s no big deal. Just don’t let anyone tell you the market is real strong because it’s not. I do think it is improving slowly but it’s not hot