I have an 88.5 TR that I am thinking of selling.........don't drive it enough.....I bought it 6 years ago, with 45K miles on it. It is Black/Tan, 2-owner, no accidents, no rust, no leather tears. It is a US version, and is all original.........including ALL tools, all manuals, even original invoice. It has about 65K miles on it, and runs great. The diff was replaced at 45k miles with that of a 512 TR. The seat belts where replaced under the recall. I am completing the major service on it. Besides the service, I replaced ALL front seals, injectors, spark plugs and wires, some inaccessible hoses (those that are hard), caps and rotors.........due to the mileage. There are some TRs for sale, with low mileage, asking $65K-$75K. I am thinking of asking $49K. Opions?????????? Thanks
That's too high, IMHO. You weren't able to sell it before at 49K, and the market has fallen since then. While I have no problem with high mile Ferraris, the market enacts a severe penalty for the mileage. At 65,000+ miles, you'll be lucky to get 40K, regardless of the work you've put into it.
Unfortunately Tillman is correct. You might as well keep it as the TR market isn't the best right now. I too am all for high mileage Ferraris but I think that $49K is way too high. You should be able to sell it for $40K it just may take a little time.
yeah, unfortunately I think your in the same position as you were when you last tried to sell it, you will probably either need to bite the bullet or keep enjoying her, good luck
I appreciate the responses. It seems that $40K would be more in line, according to some of you. However, while following the market....namely in Cars.com, I have yet to see a TR priced even close to this. My feeling is simply this: If I sell the TR for $40K, and then 2 months later I miss it, and want another one, then I should be able to buy one for $40K.........agree? Well, I just don't think I would be able to, from what I see. Ron: Yes, I am doing the service myself. I had 8 Ferraris (all serviced by me), have all the proper tools, and service facilities. The nearest dealer is 250 miles away!!!! Where I live, there are no independets that I would trust, simply because no one has a Ferrari reputation. Besides, this is one of my hobbies.
It's your call, of course, but remember that advertisements are asking prices. You can ask anything you like, but it's the buyers as a whole that set the market price. If it didn't sell before, then it was above market value, for that car. The big problem is that there's not really comparable vehicles out there. I haven't seen a TR advertised recently with 65,000+ miles on it. If there were a half dozen high mileage TRs on the market at any time, then we'd know the price. Couple that with the fact that it's owner serviced (regardless of how qualified you are) and it's going to be a hard, hard sell unless it's priced low enough to overcome the objections. I know that's not what you want to hear, but you did ask for feedback. As I'm not looking for a TR, I don't have a dog in this fight.
Didn't Martin sell a higher mileage TR in the last few months? You may have to wait a while for someone who is not afraid of a home-serviced high-mileage TR. And if you think you might want it back in a few months-don't sell it.
Henryk, I feel your pain, guy. I have pretty much the same situation. Although mine has under 50k miles, your has much more original equipment with it. Like you, I do my own service because it's a hobby. - More like a control thing, I guess, but people don't seem to care for that. Somewhat irritating that you would be expected to toss 7 -15k for a major, at a dealers, and then be expected to sell for under 40k. Isn't that really what everyone is saying if your *asking* price is 40? There are Hondas going for more... Personally, I will not consider selling mine for 40. I'll just keep her, and if someday the market for these TRs finds it's way back up, all the better - I'll reconsider then. If not, just as well. My estate can sell her. After all, I'll still have the TR, one of the classic - Rob says so - Ferrari greats, and all those people looking for a sub 40k TR in great condition can go spit. Don't let her go on the cheap, Henry. Easy advice to give, I suppose, but if I ever did that, it would bother me to the day I died.... Whatever way you go, good luck!
henryk - Do not, under any circumstances, neglect to mention in the ad that this is your 8th Ferrari, (debatable ad inclusion: [or that you have a full service facility]). Your experience is this car's biggest selling point. That tells the interested party that you were and remain experienced enough to get, upgrade and drive the best Testarossa you, Mr. henryk Experience, could find. That's a very, very pretty picture to a buyer who is willing to see past the miles. So it didn't sell for 49K - Put it up for 48K, if it doesn't roll after X time, drop to 47... but don't lose sleep or dough by kicking it straight down to 40K from 49 - after all, since 65K miles is not the half-life of the radioactive isotope known as Testarossa, you're not screwing any potential buyer. __ Oh, and when selling - there's a moment of Critical Mass - when you both have discussed the deal - any deal - there's a point when both parties know the seller is done "selling." At that moment, both parties shut up. And think all kinds of thoughts... Mexican Standoff... Mutually Assured Destruction... You know who "loses"? The first guy that speaks. So, when you and him both know you're done selling... just shut up, enjoy the pregnant silence for what it is and let him utter the first words - they'll either be: Buyer: "So, uh, the ____ is *whatever* Seller: Yes, it's *whatever* (and/or a hop, skip and a jump to...) Buyer: "Welp, let's do it." SOLD
Man... I'm really tempted by this. If only I could justify selling my practical, reliable, warrantied sedan to replace it with a TR
I just sold my '88 Testarossa with 34,000+miles a month ago, it had the 30,000 mile service done at 30,000 miles a year ago, also tubi and tubi test pipes. I let it go for $50,000 and my car was a 9.5 point car. I am having nightmares about the whole thing two weeks now, I am driving now a 996Twin Turbo which is a lot by alot faster than the Testarossa and much more comfortable for everyday driving, I used to drive the TR daily and knew that car well since I bought it with 8,000 miles in '99. I feel terrible because I want another right now and I know that for $50,000 I wont find one like it, my advice is that if you are selling to replace it with another Ferrari (a better one than the TR) then do it but if not then do not sell, you will regret it, you will kick yourself, you will regret it, damn me damn me damn me, you will be hunted with this words for a very long time...
Just goes to show - when you sell a Ferrari to buy a Porsche, you regret it EVERY TIME!!!! I did it too, sort-of..... I would agree to some of the numbers I'm hearing, though. Asking: High $40s, Selling: Low $40s.
Are the other TR's your looking at on Cars.com have 65K miles? Any newer generation Ferrari with 65K miles falls into a buyers market. Also, the fact that you are doing your own work although it may be done correctly will also not help the sale, IMHO
Henry: Please contact me off-line. I am very interested in your car. (I also sent you a private e-mail, but I'm not sure it got to you.) [email protected]
Testacojones -- was the '88 you sold a single-lug or 5-lug TR? TIA (always nice to get a real-world data point)
Thanks for all your comments, both positive AND negative.........I appreciate it. It is always best to get opinions from different perspectives.....mine being only one, and obviously biased. When I had the car for sale before, at $49K, I had offers where I could have sold it for $40K ANY day of the week. And the car was for sale in the middle of the winter months.......I live in the Midwest. The F dealer, at the time, told me that I should take $46K for the car. I bought a Boxer from him at the time........I still have it. Some say the market has fallen on the TRs.....I agree. However, I feel this is true of the $95K+ TR going down to $90K+............I do not agree that a $40K TR is now worth $35K. While there are no comparable TRs at this mileage, all I am seeing are 88.5 TRs going in the mid to upper $60s+...........of course,depending on miles. While these may be asking prices, I surely doubt that these sellers would take much more than just a few grand off the asking price. Then, on some of these, the buyer finds out the car had "5" owners.......WOW......you know at least the tools are missing,etc., and someone probably disconnected the speedometer.......remember; mileage is everything.........would you REALLY trust this car????????? Owner service, to me, means more pride and care in the car. I have read many posts where the dealer performed unsatisfactory work.........or even charged for work NOT done. The PO of my car had the F dealer do EVERYTHING!!!!!!!!!!! When I got the car, and later changed the oil, I found the drain plug threads on the oil tank where almost stripped.......I fixed that. Several sheet metal screws where missing in several places. The little brackets, facing the engine, holding the lower panels beneath the fuel pumps where broke off (all 3).........from the previous majors done......by the dealer. I heard some buyers never even knew there where 3 panels there, since they didn't even have them on their cars. For a dealer "time is money"...........that is NOT true for the hobbyist. I have not decided what I am going to do. I know that I will NOT sell the car for $40K, or anywhere near it. It is just worth more to me than that. I am noticing a difference in price of about $7K, between a TR with 13K miles and two others at 42K and 32K........same year. The difference in price of my car, at $40K and 65K miles is now $25K.........!!!!!!!!!! I feel something is wrong. Didn't many of us agree, in other threads, that these engines are "bullet-proof"? Apparently some of us really don't believe this. Testacojones: I do feel your pain. Your car was worth more.
Henry, there is no way that you could only get $40,000 for your TR. I just sold my '79 308 GTS for $31,000. It had 99,700 miles and the A/C did not work. I advertised mine within Michigan (Michigan Auto & RV) because I knew that in order to get that kind of money out of it, the person would have to see it to appreciate all the mods I did to it. E-bay or a national paper where someone would have to fly out to see it, no way........you'd be lucky to get $40,000. There's too many TR's out there to choose from. Maybe you're asking too little, people may see the low price and assume that there is something wrong with it. Ask $54,000 and advertise it in a Wisconsin car trader w/ a color picture.....then take me out to lunch. BTW: Love my test pipes you made me!!!
<Fonz>Exactamundo</Fonz> - obviously, it's not debatable whether you should do full disclosure on your ad. Strengths = Selling points = Strengthy relationship between a happy buyer and seller. Preach it, Brother! *Dances with Snake*
TR prices are all over the map, I could have bought one with records with 20k miles, it had a ding or 2 but had nice paint and interior along with the usual dash shrinkage for $41k. You are dealing with one of the most expensive Ferraris to own and you have done the maintenance yourself, buyers don't know you or your expertise that is going to be a big negative, you are better off just keeping the car. ] Didn't Arrando? who gave an excellent write up here on a major service on his Black TR sell his? That may help as a guide.
Jerry: Now that is an interesting idea, about advertising the TR!!!!! When I had it for sale before, I would get people calling from both east and west coast........telling me that "there are many TRs for sale"........I would ask them, "then WHY are you calling me?"........can't you find one locally? Maybe I should make sure they are not members of FChat????????? Glad to hear about the test pipes. Did they go on OK.......any problem? Did the sound change? Now you have to gut your pre-cats. Hank
