Was a (#3 good) Testarossa basically $40k car for many years, now $80k ?

I knew one exactly one $45K Testarossa back when and I shopped the market.
Yeah $80K minimum and probably a steal at that.
Would you rather they constantly depreciate ?

 

I bought my first 1990 Testa clean fax, orig cond, and just about perfect car.with 25k miles and due for a service for 38k. back in 2012 or so.


those were the days man!

 

They were fairly priced. Anywhere from low 40s to high 60s. I bought mine back in spring of 13 in the mid 40s. Great car but did have a salvage title. All of the cars for sale at that time were in the 50s to high 60s. Nothing was even close to 100 grand at all. And the cars that were in the high 60s to low 70s were not selling. And that was in the middle of 2013. They exploded like a rocketship December of 2013 after the auctions had succesfully hyped up, the economy was mostly recovered, and the dealers and brokers were off to the races to throw the cheap free Fed money around, buying up all the cars in sight and calling them investments. There were a TON of them for sale beforehand at the time all over the place by private owners. Autotrader, cars, and many on craigslist. Market is getting flooded again with them now, but I wouldn't be surprised to see significantly more than what you are already seeing and soon. At the time, to have a clean VIN TR that was solid required at least 55, the cheaper cars were all rough or needed service. So basically 55-63 was the selling zone for the car in spring-summer 13.

Also I looked at a condition 2 (close to 1) 512tr in black at a dealer out in Los Angeles. Asking price was 73k. Had about 25k miles on it, full service history. Another f-chatter on here ended up buying it. The salesman that worked with me was a real piece of work and refused me a test drive. I made an offer which he said was fair, showed him the money, and he responded "no test drives" as instructed by the consignee. I told him he better get the guy on the phone and let me drive the car or I'm walking. He didnt, and I left. Guy then emailed me constantly for the next 2 weeks begging to strike a deal, was pretty weird. I told him I was ready to write the check right there. Deal was done, he didn't want to close it I guess. 512trs at the time were about 70 to mid 80s which was a fair price. There were one or two being pumped by dealers, one at naples motorsports for over 100k with a cell phone hole in the fender, nobody was taking them at that price level.

 

Yeah but Brad, you've been saying that for as long as I can remember.

 

So the supply hasn't increased since I began saying it? (which was summer 2015, just a tad over a year)

Autotrader: 31 cars

Hemmings: 61 cars

Ebay: 34 cars

Dupont Registry: 41 cars

I'm sure 10-15 are counted twice in there so lets be generous and call it 30

137 Testarossas for sale. That doesn't sound like a high number to you?

 

Hi,

Is the general way of thinking that prices are coming back down to what they were?

I`m only asking because 10 years ago (here in the UK anyway), a Testarossa was worth more or less the same as a mid year Countach or 512 Boxer - so that would mean you will soon be able to trade a mint 50k Testarossa for a mint 50k Countach or Boxer won`t it?

I know that not everyone would want to as the Testarossa is the ultimate dream car to a lot of people ofc - but if it`s true that values are going back down to pre boom levels then it could be an amazing opportunity for the Testarossa owners who bought one because they thought the Countach was out of their reach!

My Testarossa has gone so not saying that for my own benefit but I think it would be impossible for "just" the Testarossa to come back down to pre-boom levels without the same thing happening to all the other old supercars.

Ofc if the argument is that the Countach is too Iconic to come down to past levels (a pretty worthy argument!) then I guess the same applies to the Testarossa....but I`m not sure where that would leave Boxer values as although they are rare, they`re obviously not as Iconic as the Testarossa or Countach.


I personally hope that Testarossas do hold their value so that the people who saved up and had the guts to buy and try one because it was their dream car, don`t loose their life savings.

If classic cars do as a whole however return to previous levels then it could give Testarossa owners an opportunity if they want to change it for an other previously out of reach supercar for very little money.


I guess which ever way it goes it will be good for some and bad for some (and I still think if they don`t totally crash this time then there will be no stopping them rocket further than last year`s levels in the next year or two - with interest rates near zero and your money literally not even safe in the bank).

None of this affects the people who bought their Testarossa as their dream car to live with forever though, as regardless of how high or low those people buy - every
year with the Queen of the road is priceless



Keep driving!
Dominic

 

In europe is very dificult to find one for less 100.000 euros.

 

Domenic, count how many Countach or 512BB are offered for sale in comparision. Like he said the market is flooded with TR. The time of TR and CT to par is gone and will never come back.

 

Hi Claude.

The numbers currently offered for sale is a fair point - but the Countach has always been a 2,000 production car versus the TR`s 7,000 and the numbers of TR`s offered for sale have always been greater, even when the two were equal in value - so never say never


Hope all are well here, I miss posting on this forum - but most of all miss my Testarossa, not helped by the fact that my Diablo is still in the refurbishment stage, so my spare days are spent labouring not driving!


Regards,
Dominic.

 

Looking for a mint Testarossa ? New upgraded Forza diff and belts done ? [email protected]

 

lets not miss the enthusiastic part of owning these cars tho. they are truly works of art at any price.

 

The Testarossa will never equal the Countach price point again. Simple production #s will see to that.

 

'Value' is only what you can get someone else to pay you for something. Looks like the testarossa's value has flattened, but not decreased... https://www.hagerty.com/apps/valuationtools/1987-Ferrari-Testarossa


Sent from my iPhone using Tapatalk

 

They definatly have leveled off but baring some onforseen worldwide economic melt down, they should hold as this is the new 'value'.

And Brad is right, there are more TR's for sale now compared to pre 2014. A normal offering was around 13-16 at any given time.

 

Lol, very good!! Cheap as chips!

I was offered a one owner, red/tan 1991 Testarossa with only 27,000 km on the clock in near mint condition for AU $73K around 6 years ago.

That was around $20K cheaper than the normal asking price at the time. I should have bought it but I turned that car down and a glass 308 GTB for AU $60K before that as I was looking at buying another investment property with the Wife.

So I turned down two amazing cars which would have cost me AU $133K for the pair in late 2010 to buy an investment property.

I have made some money on that property since I bought it in April 2011, but not as much as I would have buying and selling those two Ferraris.

The asking price these days for a Testarossa in Australia is around $300K and the asking price for a glass 308 is around $300K also.

But that's all good, you can't win them all.

 

.... IF .....

 

Lol, yep!

I have always wanted to own 3x Feraris and this would have sealed the deal for me.

A Testarossa, a 308 GTB and a 348 TB. All were red/tan, my favourite colour combo. Hehe

But I have always wanted to own a waterfront property also.....

So the property came before the cars on this occasion. Those cars will have to wait another 20 years now. Lol.

 

Ya know what the say........"They are'nt making any more waterfront property" I think it is more true of the cars we love and definetly the Testarossa. Each year there are a few less and just like any valued asset it will rise and fall in value. Enjoy what you have and when it is time to sell you will be fine.

 

Cheers Mark, I appreciate the kind words.

 

Lots of waterfront property in Louisiana these days. Cheap cars too.

Be careful of what you wish for.......

Best wishes to those affected,
Vincenzo

 

I am not aware what happened in Louisiana, but thanks mate.

 

Sorry to digress...

Over 15,000 homes flooded - widespread devastation. An unexpected 1,000 year flood, very few had flood insurance since they were not thought to be in a flood zone.

My heart goes out to them and the Italians dealing with their quake.

Back to FChat now....

Best Wishes,
Vincenzo
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