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Testarossa Price Trends

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

  1. Shamile

    Shamile F1 Veteran
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    Yes, but it's a car I want to drive everyday for the next ten years. So, I was more focused on ease of maintenance and downtime....not residual value.

    ...all these newer exotics are a dime a dozen...Aventador included and are worth nothing but entertainment value.

    Because of this, I've been thinking of going the finance route. I usually buy things outright as I can afford them. But expecting a total loss on resale, I was thinking of putting the capital in hand to work that can generate the payment and let it wash. This way, there's no real loss.

    Shamile

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  2. Natkingcolebasket69

    Rossa Subscribed

    You can try premier financing or putnam too for leasing if ever u want to finance


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  3. MOSS

    MOSS Formula 3
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    Apr 28, 2004
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    That is some smart thinking right there. As far as Testarossas go, 80-100 is where the market settled. No amount of posting recent sales will change that. They aren’t going up and those numbers keep it a respectable Ferrari to own.


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  4. Jay R

    Jay R Karting

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    ;-)
     

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  5. campbell360

    campbell360 Karting
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    Do the TRs advertised at $135k+ actually sell? Or is $30k of margin built in for negotiation? That seems like a lot.
     
  6. Shamile

    Shamile F1 Veteran
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    Oh great...now I have the Freddy Mercury/ Queen song playing in my head lol

    Shamile

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  7. Shamile

    Shamile F1 Veteran
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    If that's for an average Testarossa, that's a little high.
    Maybe for a low mile time capsule...yes, but those take a long time to sell.

    Shamile

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  8. MOSS

    MOSS Formula 3
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    Agree, they just wont fetch that number anymore.


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  9. V4NG0

    V4NG0 Karting
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    Two Flying Mirror examples sold for around that amount in the last handful of months—one is a low mileage time capsule ($127.5k) while the other is not ($145k).
     
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  10. campbell360

    campbell360 Karting
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    I'm just looking for a 20k-ish mile white with recent service. Or priced for a service. Recent auction prices for low mileage cars and Kevin's awesome Bo Jackson car sale price should reset the market.
     
  11. Natkingcolebasket69

    Rossa Subscribed

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    Try this one...Parnelli on this forum
    Bought a similar car with less
    Miles for less money. U can ask him for negotiating tools;)


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  12. campbell360

    campbell360 Karting
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    I've actually talked to Ryan Friedman last week on this car. The car is getting a full belt service apparently. I haven't heard anything since. The interior is funky (resale?). And the price went down $1000 yesterday. So I'm not sure what's going on with this particular car honestly.
     
  13. Zeff

    Zeff Formula Junior

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    #3988 Zeff, Jan 19, 2020
    Last edited: Jan 19, 2020
    And the estimates they put on the cars are always over inflated at auctions. I have rarely since accurate estimates for any car values. All vehicles listed at auctions not any particular brand of car. It’s just the way they run the auctions.
     
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  14. Zeff

    Zeff Formula Junior

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    There is no resetting of the market. This car may or may not be priced incorrectly. (Ryan Friedman car) You need to go look and see the car in person to determine overall condition. Then get a complete inspection of the car by a trained Ferrari technician to determine any needs at this point. If the car is in perfect condition 113k is not way out of range if it is current on maintenance. Remember these cars don’t sell in absolute values it’s always within a range based on condition, color combo, mileage, and maintenance history, etc. Now if they were asking 150k for the car one could argue. You can’t nickel and dime the price like that. Otherwise I can guarantee you won’t be buying one of these cars anytime soon.
     
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  15. turbo-joe

    turbo-joe F1 Veteran
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    a car only for fun I never had financed before and never will do - the most expensive way
     
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  16. Jay R

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    Has anyone here ever leased a classic car?
     
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  17. MOSS

    MOSS Formula 3
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    Well that is probably typical on most of these cars but I think Shamile was saying he could properly put the money in the market
    and let the dividend pay the monthly payments. 400k can make you 2000-4000k a month. I'm not guessing here. Then when its paid off
    you got the principle untouched. Use someone else's money at a very low interest while yours makes big interest or returns.
     
  18. Parnelli

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    I get where you are coming from....but the above assumes a range of 6 to 12 percent rate of return AFTER income taxes are paid in the interest/dividends.
    That’s a pretty lofty goal if you are looking at placing the $400k in a secure/low volatile investment that preserves the initial investment
     
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  19. MOSS

    MOSS Formula 3
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    Sure, you may not hit your mark but this year I think you would have. I have been seeing better than that with Fidelity this year with a mix of risks.
     
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  20. Parnelli

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    Everybody saw better than that number this year.
    But that’s definitely not the historical norm of course. And 100% stocks are not a low vol/secure investments as I referenced above
     
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  21. MOSS

    MOSS Formula 3
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    Hey Greg, opinions vary I was just mentioning the possibilities and I don't think anyone is going to take my advice and execute it today. It actually
    wasn't my advice I was actually better defining what Shamile was talking about. I agree with him though.
    It will work for some and some it will not. Its a great stock market and probably will be for some time. It's pretty dang smart i think
    and it wasn't my idea but I have tried it to an extent before with good success. I will tell you something else too, a fellow better always get some
    good advice if you are not savvy and into taking some chances investing. Loose your shirt pretty quick but what I am talking about is smart
    investing by a trusted investment professional. Getting off subject really but related if you are a buyer.
     
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  22. Natkingcolebasket69

    Rossa Subscribed

    This is all very cool stuff and good financial education stuff , more than one get from random discussion ! I like everybody points of views and i often talk investment with parnelli/greg ! All that makes lots of sense :)
     
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  23. Parnelli

    Parnelli Formula Junior
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    As a guy who has been a financial advisor for a large wire-house for 28 years (and our team has been ranked)
    • Barron’s Top 100 Financial Advisor in the U.S. for 13 consecutive years (2007 – 2019)
    • Financial Times 400 Top Financial Advisors for six consecutive years (2013 – 2019)
    I agree with you 1000% !! :)
     
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  24. MOSS

    MOSS Formula 3
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    That is very impressive Greg! I wish I could have ridden in your shirt pocket!
     
  25. Shamile

    Shamile F1 Veteran
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    Beat me to it!

    Yes, this is exactly my thinking. I've always bought outright and move up as I can afford.
    I was trying to think a little differently because this time around, I have the cash in hand.
    My budget for the Aventador Roadster was 300k but even now, the car is really starting to go down....so let's say by the time I sell my Testarossa it's down to 250k.

    The reason why I was trying to think outside the box was all these newer exotics lose money hand over fist. I thinking out loud if there was a better way to "have your cake and eat it too"
    Since most of us here are business owners, professionals and self made, you never know what you can learn from others on this forum.

    As far as markets go, I've already gone to cash and am on the sidelines. The valuations are too lofty and are decoupled from the fundamentals...ok, I digress there.

    But, just looking for ideas before I throw my money away.

    Shamile

    Freeze....Miami Vice!

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