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Testarossa Price Trends

Discussion in 'Boxers/TR/M' started by Mr.Chairman, Dec 9, 2010.

  1. darth550

    darth550 Five Time F1 World Champ
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    Nice! What scale?
     
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  2. Zeff

    Zeff Formula Junior

    Oct 8, 2018
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    Ok so I have two questions to ask, the first one is probably the easier question of the two. I realize these two questions are a bit more serious than what most of us discuss here day to day but sometimes we have to get down in the trenches and get dirty.

    First, a neighbor of mine was telling me that a friend of his has a friend who has a friend that has been looking for a TR for quite some time but has some concerns about prices falling. He wants to know if now is the time according to him to catch the falling knife and buy right away. I answered I don’t know, as I have my own problems and concerns which leads to my question.
    Most of you may know I bought my TR about a year and two or three days ago. Longer than most relationships as it were. My initial motivation was based on the fact that I could make a quick 50-75k on this car when the market rebounded. I was planning on using the money to pay for some much needed dental work as I lost both of my front teeth in a merry go round accident at the fair. The rest of the money would be used for some landscaping work and for possibly a short trip to Mexico. Now, after checking prices on this thread thanks mostly to Nat, It appears I may have bought at the top. I actually lost 100k so there won’t be money for the dental work, landscaping and trip. The worst part is I took a high interest rate loan out from a friend who thought as I did this was a no brainer investment with little risk. I also agreed to give him some of the profits. My question to you is, do I try and hold on and risk everything by riding this to the bottom and lose most if not all of my friends money? I’m not sure if I have the stomach for much more. What do you think?
     
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  3. BOKE

    BOKE Beaks' Gun Rabbi
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  4. Shamile

    Shamile F1 Veteran
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    Ok, I'll give you my two two cents...

    Do you love.....mean really love the car? Does it put a smile on your face everytime you get behind the wheel?

    If so, keep it.

    If not and it was just an investment "vehicle" (pun intended) then sell, take your loss and pay back your friend.

    For your situation, you could go to Mexico, have the dentistry work done there and bring back a landscaping crew ;) lol

    Ok, I kid!

    ....life is about well being. Take out a 0% 1 yr promo on a credit card and go get your teeth fixed and your life back. The trip to Mexico can wait and so can the landscaping.

    In the last financial crisis, I lost 500k on my rental properties in lost rents and wiped out equity. You absorb it and move on. For me, life is good ..and you can do the same!

    Shamile

    Freeze....Miami Vice!

    Sent from my SM-G950U using Tapatalk
     
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  5. turbo-joe

    turbo-joe F1 Veteran
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    a TR is never a good investment
    but you buy such car to enjoy driving
    you spend so much money in your life for enjoying some - so why not in a TR
    and when you are lucky you make profit when you sell, otherwise you had a great time with the car
     
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  6. JAM1

    JAM1 F1 Rookie
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    Crash it for the insurance money.
     
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  7. Natkingcolebasket69

    Rossa Subscribed

    I’m so confused, from what I recall u didn’t pay much for it?


    Sent from my iPhone using Tapatalk
     
  8. Natkingcolebasket69

    Rossa Subscribed

    U recovered nicely and now about to get ur dream aventador!
     
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  9. Natkingcolebasket69

    Rossa Subscribed

    well said Romano!
     
  10. Natkingcolebasket69

    Rossa Subscribed

    agreed but wasn’t the TR single layer coat?
     
  11. Natkingcolebasket69

    Rossa Subscribed

    Maybe will make u get one back some day;)
    My buddy Petfred has a white on white it is pretty sweet , he did quite a few mods to it. Blkdiablo33 also has a stunning example in that color combo;)


     
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  12. MK1044

    MK1044 F1 World Champ
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    I know a good dentist. PM me if you want his contact info.
     
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  13. MOSS

    MOSS Formula 3
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  14. MOSS

    MOSS Formula 3
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    Nice response and great advice.
     
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  15. MOSS

    MOSS Formula 3
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    I very much think you sell now as I think the rebound will never happen and you are seeing the market come to its resting spot on these cars, at least for many years. Thanks for sharing as many others bought at the top. You can never quess this stuff. Its always a gamble. You seem like a smart guy Ryan and will make your money back somewhere else.
     
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  16. Jay R

    Jay R Karting

    Oct 6, 2017
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    I think Billy’s right except that we’ll see a bit more movement down yet. Not much, I think, but a little.
     
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  17. WATSON

    WATSON F1 World Champ
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    Sep 9, 2010
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    Wow. That is an unfortunate situation. Clearly investing in cars is a risky business that ebbs and flows and timing is everything.

    Just a thought, but it looks like you can get around $6,500 for the wheels right now...more if the tires are good.

    https://www.ebay.com/itm/OEM-Ferrari-512TR-Wheel-Set-Testarossa-512-TR-Speedline-18x10-18x8/132228444566?hash=item1ec96df196:g:C90AAOSw~e5ZQxfO

    Seeing as the market is declining and heading for zero, you should be able to buy back the wheels next year at this time for perhaps $3000?

    That difference should cover your dental expenses and perhaps some of the landscaping you are hoping to do.

    Of course you will have to have the car sitting on jack stands for a year, or find a set of steel wheels that might fit it, until you can buy your wheels back.
    But that is better than having undone dental work.

    Best of luck!
     
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  18. ttforcefed

    ttforcefed F1 World Champ
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    #3743 ttforcefed, Jan 9, 2020
    Last edited: Jan 9, 2020
    in my 20 years here - this is one of the most bizarre threads ever.
     
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  19. MOSS

    MOSS Formula 3
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    Yea....aint it a gas
     
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  20. BOKE

    BOKE Beaks' Gun Rabbi
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  21. I.T. Guy

    I.T. Guy F1 World Champ
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    You just have to be a thinker! Three easy steps:

    Step 1:

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    Step 2:

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    Step 3: PROFIT
     
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  22. ttforcefed

    ttforcefed F1 World Champ
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    like someone said earlier Dinos went through something similar
     
  23. BOKE

    BOKE Beaks' Gun Rabbi
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  24. Zeff

    Zeff Formula Junior

    Oct 8, 2018
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    #3749 Zeff, Jan 9, 2020
    Last edited: Jan 9, 2020
    I like the way you think I’ll be watching you. I am going to make some calls today and see what can be done. I will need to call the investor set up a lunch meeting- get a free meal out of it at least and run these ideas by him. I have a few of my own but most of them aren’t legal in Ca. That probably won’t bode well with all of my humanitarian work that I have done. Oh, the car has 27k now so already wore out in the minds of most Ferrari buyers but your idea will work.
     
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  25. MOSS

    MOSS Formula 3
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    Just make sure it doesn't suffer the same fate.
     
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