before posting here would be good to fill out your profile and introduce yourself a little. thank you
Based on all your thoughts and if this sale mentioned is indeed legit, I'm thinking a '94 is scratching at 400k I really thought the market was leveled off back in April, but I guess I'm truly surprised I never thought it would make it past year end, but things slowed up this past Spring- I guess they kept moving thereafter while I buried my head in my busy season at work How long can all this go on is the question...
Why would you say that?? ..... The 512 TR is rare , iconic and eminently drivable ...... perfect blend of desirable qualities for speedy price escalation in my book! BR, Jez
"But with every upward tick of the market, more enthusiasts were squeezed out. The reason for the collapse is simple, prices went too high. In 1985, everyone involved in the collectible-car market was an enthusiast. In 1989, they were all speculators. There are only so many enthusiasts who can afford $1 million for a car. The market finally ran out of end-users" Michael Sheehan.
It's 2015 - the population is now north of 7B and 500k-1M today is not the same as it was in 1989. Coupled with many more millionaires coming online monthly, and a finite number of cars it's a matter of supply and demand today. Even if the market runs out of end users buying daytonas for 1m or Bb boxers for 400k - they will not drop 50% , just like the stock market cannot go back to 10,000. If it does - better load up on fuel, canned goods, and ammunition
There's a '93 at Ferrari Long Island- Ask is 429k w/8k on the clock So actually I think the '94 car at 455k may seem low in a few months if things keep up...
It dropped from 14,000 in 2008 to ~7,000 in early 2009, so clearly it can and it has. Will it do so again? Probably not, but Wall Street has been pretty effective at resisting real reform so IMHO it's still a house of cards. For 512 TRs, I suspect rising prices are being fueled by rising prices so a correction is likely. When/how much? All part of the gamble.
I bought the Red/Tan 1994 TR with 2700 miles from Ferrari of Washington for $496 out the door. 455k was the sale price.
please show pics and VIN to share with us for such a pricy and low mileage TR ..... Congrats anyway if photos shown.
Welcome to the Show! Your first post and its a Dooozy.. Was that Wash DC or State?? I think you meant to say..496 was sale price and 455 out the door.. Congrats...2700 miles...must be a New Car!!! Please Pics, when you can..
Last digits 97245. Bought it from DC. $496k include tax, license. Sorry not sure how to attach photos.
But there is nothing that has the presence, grace, and strength in one harmonious package as a Testarossa. It's the defining Ferrari. It's the car that proudly and loudly says.. This is Ferrari! Imo Save an F40. But the Testarossa is much friendlier to live with
