Guys, 2nd post here. I'm interested in buying my stepfather's Testarossa. it's a 1987 Red/Black car that in my opinion is in great condition cosmetically and mechanically. It has 25K miles, and it is a Euro spec car. All European components remain installed, aside from the odometer. There are really no problems with the car, no stories, other than the original euro odometer stopped working, which he documented and replaced right away with a miles odo. He's the 2nd owner, and it's a very well documented car. Also, he's a Ferrari mechanic and has owned the car for 31 years. The last major service was 8 yrs ago and 2K miles ago. Can you guys please help me understand what the general price range for this car is. I'm thinking $80K-$90K, he's thinking quite a bit more (so much for the friends & family deal. just looking for a reasonable range between $15K or so. Thanks, Phil
Certainly the market has been down recently, but such old cars exist in very different conditions so your best way to get an idea is to see actual cars for sales and negotiate as if you're going to buy them. I understand the one you're looking at is rather good, but it needs a major service. As an example I just found this one advertised in LA: https://www.beverlyhillscarclub.com/1988-ferrari-testarossa-c-10083.htm
Did you check hagerty? They have ranges based on condition. Some people poopoo their numbers (because they think their cars are worth more than they say) but considering their business is in insuring classics, I think they're accurate. Sent from my Moto Z2 Play using Tapatalk
I just checked Hagerty, see below. In these situations, I typically monitor ebay completed listings, and bringatrailer results. To me, these searches yield a realistic overview of how these types of vehicles are actually selling. I don't think this car will sell for what he's asking but it is a special car to me. That said, I'd much rather roll this type of money into an early 308 dry sump car (no offense to all you Testarossa lovers!). My stepdad had a 77 black/black euro steel dry sump car when I was in my late teens. I almost cried when he sold it for $35K back in 1994. That's the car for me, and for him it's one that got away.Thanks for the help! Current Values #1 Concours$110,000 Condition #1 vehicles are the best in the world. The visual image is of the best vehicle, in the right colors, driving onto the lawn at the finest concours. Perfectly clean, the vehicle has been groomed down to the tire treads. Painted and chromed surfaces are mirror-like. Dust and dirt are banned, and materials used are correct and superbly fitted. The one word description for #1 vehicles is "concours." #2 Excellent$100,000 #3 Good$68,000 #4 Fair$59,000
Does the car have the metric wheels or 16”? If metric that will be a big issue affecting value. I think 80-90k is about right. Euro spec brings the value down.
Dont look at book values at all. They have never been in touch. Needing belts and major could be 10k if it needs a clutch and it does. 70k is a good buy. 80k is not bad. Nothing over that in my opinion. If you got to have it then max at 80-90. Owners that are basically out of touch glance at asking prices of non apples to apples comparison cars and see 120-140 get way out of touch. Get it right and you will be happy. Be careful. Find something else if you cant get it right. Don’t let family ties cloud your thinking. Sent from my iPhone using FerrariChat.com mobile app
As the custodian of the ferrsrinprices on This website I can tell u ; u are spot on; with no service it’s tops 85k; he probably wants 120 and will never sell it. Feel free to Reach out. Sent from my iPhone using Tapatalk
Yep classic testsrossa market; here are the true selling price. 1-5 to 10k miles car, service tops 130k 2-10-15k services -110-120k 3-15-25k service 100-110 More than this it’s sub 100. And those are results from private sales, auction etc. Asking price tends to be 20% over, car sits 6 months then drops or out of the market. Those prices are for red, blc might be a bit less even. Sent from my iPhone using Tapatalk
Asking prices start at 80k... up from there to 175k: https://www.cars.com/for-sale/searchresults.action/?dealerType=all&mdId=22262&mkId=20014&page=1&perPage=20&rd=99999&searchSource=SORT&sort=price-lowest&zc=89511 PS: lots of potential downside in ‘relationships’ when buying from relatives.
Nat’s valuation is based on real sales. Remember too: Diminishes Value No major or cheap/flip-style major Euro car Color other than red or white Accident Excessive wear and tear to interior or paint Metric wheels Evidence of poor or delayed mechanical maintenance (unless its a time-capsule car) Things affecting value for the positive: The opposite of everything above Excellent service records going back 20yrs or more Minimal owners (1-3) Flying mirror cars in at least average condition for its mileage Single lug cars (mwahaha) with standard wheels or with a spare set of aftermarket wheels that you like Classiche certification (probably not worth the money) Full set of luggage plus tools Current owner shows it and wins concours with it Current owner regularly drives/uses/maintains the car I’m sure others will agree/disagree with some/all of what I wrote above. T
Lake forest sports cars had 2 recently. Looked nice, don’t know mileage, were asking 120k$. Both gone, I assume sold?
Here’s some real world info. I helped Automotive International (a ferrarichat site sponsor) get their dealer license back in November of last year and so far in 2019 I have sold 4 Testarossa’s - and have a white/tan car incoming. Also, I judge flat 12’s with FCA at the national meet and Cavallino and personally owned a 99 point car, so I like to think I have a decent idea of what constitutes a platinum level car or not! 1985 euro spec 90k Klm car red / tan needed a major (long story on that issue with this car) SOLD for 75k 1991 red / tan 18k mile Platinum level original paint car with very fresh major service SOLD for 125k 1990 red/tan 5k mile Platinum level original paint car needing major service SOLD for 125k 1991 red / tan 18k mile Platinum level original paint car with major last done in 2016 SOLD for 92k - this was a wholesale deal for a good client - Before I bought for my client an authorized Ferrari dealer offered 85k trade in. I also recently sold a platinum level 512 BBi so have a really good idea of real world pricing in that market as well
In my opinion mileage doesn’t mean much on a boxer as most have had speedo changes due to DOT/EPA conversion. That being said, my car had 35k DOCUMENTED kilometers ( still had original euro speedo and records back to original owner who imported the car when new). I advertised the car here on chat so those of you wanting specifics can dig up my old ad. Anyway, as a summary, recent major service, full suspension rebuild, Classiche certified, factory luggage, and no ugly US side markers or evidence of DOT conversion other than door beams —- 97 points at Cavallino in January of 2017 Wholesale offers were in the 210 to 220 range back almost a year ago. I sold the car for 195 cash PLUS a nice manual transmission 400i, which I am going to put up for sale here shortly with an ask of around 75k
