Hope for the TR market! Mecum Sale | FerrariChat

Hope for the TR market! Mecum Sale

Discussion in 'Boxers/TR/M' started by jlonmark, Nov 24, 2013.

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  1. jlonmark

    jlonmark F1 Rookie

    Mar 29, 2005
    3,173
    Beverly Hills, CA
    Full Name:
    Jay
    1989 Ferrari Testarossa 4.9L, 5-Speed for sale by Mecum Auction

    The car was in very nice condition. I spoke to the owner and asked "when was the last belt service?" Response, "2,000 miles ago."Me, "how long, time wise?" Silence..... "Uh about 2 years ago." He then went on to tell me he would be happy if the car brought $55,000. Looks like he did ok!
     
  2. godabitibi

    godabitibi F1 Veteran
    Silver Subscribed

    Jan 11, 2012
    6,252
    Papineauville, Quebec
    Full Name:
    Claude Laforest
    What it sold for?
     
  3. ferralc

    ferralc Formula 3
    Owner Silver Subscribed

    Sep 2, 2010
    1,943
    San Diego CA
    Full Name:
    Fernando
    73k way more than its worth for a car with 23k mileage and "2 years ago service" I believe he was lucky to find a couple of people fighting over the car, therefore inflating the cars price. Mecum thought it will get 50-60
     
  4. red3555gtb

    red3555gtb Formula 3
    BANNED

    Nov 15, 2006
    1,356
    Woodbridge/Ontario
    Full Name:
    Rocco
    And your saying 23K mileage is a lot for a car that's just about 25 years old; I don't get it.
     
  5. sparta49

    sparta49 F1 Veteran
    Owner

    Mar 3, 2001
    7,802
    LA
    Full Name:
    Frank
    Guess my 91 is ready for the junk yard since it has 36K on it, probably better to part it out than do the service next year
     
  6. ferralc

    ferralc Formula 3
    Owner Silver Subscribed

    Sep 2, 2010
    1,943
    San Diego CA
    Full Name:
    Fernando
    #6 ferralc, Nov 24, 2013
    Last edited: Nov 24, 2013
    I never meant 23k mileage is a lot but usually people buying at auctions tend to love "garage queens" and what I meant with "2 years ago service" is because the OP said the guy hesitated to respond when the service was performed and he supposedly has all the service records (check the auctions ad "all paperwork from new")
    Come on guys, do you really think your cars are 70k+, not because a bunch of guys are asking that for them means the cars are that worth (now) more like 50k (maybe the cars will go up in value in the future)
    Check out the completed and successful sales on ebay.
    But if you want to believe testarossas like the one at mecum are worth 73k try to sell yours at that price.
    People that got to auctions have in their mind to purchase something and don't want to leave empty handed, mecum said they estimated a little above 50k and the guy was hoping 55k (it costs 1000 to just put the car there at that time and day and mecum gets 7% so he was trying to net 50k) because I am sure he tried to sell his car elsewhere and he couldn't, he was VERY lucky.
     
  7. red3555gtb

    red3555gtb Formula 3
    BANNED

    Nov 15, 2006
    1,356
    Woodbridge/Ontario
    Full Name:
    Rocco
    eBay is not the only game in town, how about all the fine examples that trade hands privately for far more then 50k.
     
  8. ferralc

    ferralc Formula 3
    Owner Silver Subscribed

    Sep 2, 2010
    1,943
    San Diego CA
    Full Name:
    Fernando
    I just said ebay as an example, look what dealers are asking for their cars, I purchased a 512tr 5 years ago for 53.5k and that doesn't mean that car is now 100k plus like everybody is asking for them.
    Ebay is a good thermometer of the market in my opinion (the successful listings)
     
  9. GregTe

    GregTe Formula Junior

    May 3, 2004
    542
    Maine
    You are correct, ebay is a good guide for sales prices, the completed sales that is. It is funny to see the buy it now prices on there, they are definately smoking the crack pipe. I just can't get over these same cars running over and over again, some for literally years! Here's a memo folks, if you have your car for sale for two years and it hasn't sold you're asking too much!
     
  10. FAST360

    FAST360 Karting

    Jan 26, 2009
    103
    Can you please post us a picture of your $53k 512TR?
     
  11. FAST360

    FAST360 Karting

    Jan 26, 2009
    103
    23k is very low miles and two year old major is very fresh IMO. I have looked at TR's in the $50k price range and they are rat traps mostly. I heard this car was super nice with books, tools, records etc.. Well bought I say!
     
  12. ferralc

    ferralc Formula 3
    Owner Silver Subscribed

    Sep 2, 2010
    1,943
    San Diego CA
    Full Name:
    Fernando
    #12 ferralc, Nov 24, 2013
    Last edited by a moderator: Sep 7, 2017
    What for? You don't believe me? I do not need to prove anything.
    It seems people get offended when they hear what they don't want to hear, that their cars are not in the price value of what they think they are
    Do you think most of the 50k testarossas are rat traps? Then most of the cars that actually sell are rat traps.
    I got more hate than love in this thread just to point the obvious, you don't agree with me that's fine if I find a non rat trap testarossa for 50k (or even less) I hope I can sell it to somebody like you (that will appreciate the value of the car)
    Image Unavailable, Please Login
     
  13. red3555gtb

    red3555gtb Formula 3
    BANNED

    Nov 15, 2006
    1,356
    Woodbridge/Ontario
    Full Name:
    Rocco
    Hagerty should stick to American muscle cars and hot rods.
     
  14. chabch

    chabch Formula 3

    Aug 15, 2010
    1,075
    France
    Full Name:
    Christophe
    Hmm... so the Testarossa that won everything at Concorso Italiano two years ago, which is obviously a condition 1, sold at auction in 2012 for about $90k+ would be off the this chart. Hagerty would then only be off by about $30k. Well done Hagerty, well done.
     
  15. sherrillt

    sherrillt Formula 3
    Rossa Subscribed

    Jan 1, 2009
    1,055
    Northern Virginia
    I hope no one is trying to be disrespectful, but I am sure I like anyone would be kind of suspect with a claim of a "512TR 5 years ago for $53.5k"...thats saying 5 years ago you bought $30k below current low end pricing - that's a big "wow".

    I would give you the benefit of the doubt and say you most likely found a distressed owner during the 2008-09 economic down turn, where I had friends get similar "super deals" in the private plane market (nothing at your discount level though). You surely have to attribute your purchase price as a one off lucky find and not reflective of the holistic true market value at the time or currently.

    Anyone in the wholesale/retail auto business on here want to chime in on the 2009 market anomaly and 512TR pricing back then?
     
  16. Jakuzzi

    Jakuzzi Formula 3

    Mar 26, 2005
    2,072
    PR, TX, GV
    Full Name:
    Jaime
    A 91 with 36k miles?....... DUDE you HAVE to SCRAP the car!!! I'll take it of your hands for free (it got used at least ONCE since it left the factory :( ) ... You will pay for the shipping of course (i assume ;) )!!!
     
  17. ferralc

    ferralc Formula 3
    Owner Silver Subscribed

    Sep 2, 2010
    1,943
    San Diego CA
    Full Name:
    Fernando
    I think is rude to imply I am lying and request a picture of the car, it was a 40k mile car back then, distressed owner or not, my point is if the car I got 5 years ago (maybe I need to post a picture of it with a today's newspaper to prove I am not lying) was outside of the median curve, maybe the concorso italiano too, those median averages do not count the extremes of the curve.
    Theres people that are willing to pay more for cars just because "Michael Jackson used it in a pepsi commercial" like there is any value of that for somebody but a Michael Jackson fan.
    If somebody do not agree with me, it is fine, just do not imply I am lying to prove a point, it is not like I am going to win anything out of this.
     
  18. sparta49

    sparta49 F1 Veteran
    Owner

    Mar 3, 2001
    7,802
    LA
    Full Name:
    Frank
    Man, you were so close to getting it, but I was fortunate enough for the recycling truck to haul it away this morning before it lowered my property value sitting in front the house. I did have to give them each a $20.00 bill for loading it up in the truck. :)
     
  19. Dino V

    Dino V Formula 3

    Sep 21, 2005
    1,140
    Chicago
    Full Name:
    Dino
    Seems like a fair price for the condition of the car.
     
  20. Mr.Chairman

    Mr.Chairman F1 Rookie

    Mar 21, 2008
    2,987
    New Jersey
    Full Name:
    Robbie
    I don't think anyone on here has bed disrespectful so far. I am curious what you purchased for 53k. 512 tr. I call bull**** unless there is something your not telling us. Collision history, in need of service, engine rebuild, trans issue, interior issue etc. don't play us for stupid my friend. I think tr prices are on the rise. Tr prices have suffered over the last 2 decades. They are finally demanding respect from the Ferrari world and here you are kicking it down. Give us details on your car for 53k. You either bought a car the needed some refurb to which I applaud or you bought car from an seller that did not have a clue. Either way good for you. But don't play us for stupid. Good TR's that are sorted or in exceptional condition are commanding higher prices. Keep your negativity to yourself or go buy a boxer. Lol.

    R
     
  21. Bradwilliams

    Bradwilliams F1 Veteran
    Silver Subscribed

    Exactly right. There still is a good ways to go. But the TR prices have began their final ascent from the bottom. They will not depreciate ever again. This topic has gone on over an over on the forum LOL. Bottom line is that there has never been a Ferrari in the past 30 years that has had the presence or the flamboyance to match the TRs. On top of the fact that it is a great car performance-wise for its age. The market is dictated by the people who want the cars, and guess what, guys like myself (born in the early 80s) and grew up with this car will always respect it and regard it as the coolest Ferrari ever. Not the best, but the coolest and it is hard to argue against that. And again, the Countach is in the exact same ballgame. Look at those, they're starting to break 200k as we speak (due to low production). There is a market for every car and once the market gets the funds, they're headed to the auctions to go get their dream. Every generation does this. We all want to buy what we grew up with because it is important to us, and has a mystique that is unique to us. Every friend I have my age thinks it is awesome and gives me the nod not only because the car is epic but because I bought what I dreamed about. Anybody can go out and just buy the latest and the greatest, but some cars just have more character which is more appealing to me than performance numbers. I have been following this car every since 1989 and remember vividly the time period in the early 2000's when the trends were heading toward the bubbly, curvy looking cars (chris bengal, FML). This was the first time I started to hear people turn their back on the TRs, calling them junk, ugly, to edgy, too 80s, whatever. But guess what, trends come and go and a classic is a classic. I have never once thought the car looked ugly or outdated, because guess what, there is no other car that looks like this one. She is a classic, will always be a classic. And now that the curvy bubbly trend is over, people think the car is cool again. The ascent in price will be very slow because of the production number, but it will continue to rise and I hope I still have mine 20 years from now because it will be off the charts at that point.
     
  22. Mr.Chairman

    Mr.Chairman F1 Rookie

    Mar 21, 2008
    2,987
    New Jersey
    Full Name:
    Robbie
    Great post.. and just to add.. Once Ferrari's go up from the bottom, they never go back down.. Only up..

    R
     
  23. Bradwilliams

    Bradwilliams F1 Veteran
    Silver Subscribed

    Chairman I think you are missing the TR too much. I think it's about time we get you into a 512TR :)
     
  24. Mr.Chairman

    Mr.Chairman F1 Rookie

    Mar 21, 2008
    2,987
    New Jersey
    Full Name:
    Robbie
    Im sending morris code to my b*tch.. lol.. The funny thing is that I know she is yours but I still think she is mine.. F*ckin car is stuck in my head boy..

    R
     
  25. Bradwilliams

    Bradwilliams F1 Veteran
    Silver Subscribed

    I just re-read my post and blew my own mind, the Countach is worth DOUBLE what the early diablos are worth. That says it all my friends. No further proof necessary.
     

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