Thinking of selling my Dad's TR - need advice
I inherited my Dad's Testarossa three years ago and now I'm thinking of selling it. I think it is just too much car for me. You really have to man-handle this car, the maintenance scares me, and the extra wide body makes it nerve-wracking to get around the narrow streets I live on up in the hills. My Dad ("flyyellow") had two other Ferraris in his lifetime, but the Testarossa was really the car he loved it seemed to me - which makes it hard to sell it. And this one is special because it was completely restored by the esteemed Mike Regalia. Nonetheless, I don't think I'm the right owner for this car. I don't appreciate it like my Dad did (and like someone else might). I'd rather have a 550 or some other newer car that is easier to drive and does not need 30 hrs in labor to change the belts "or else."
My questions are (1) what's it worth, given it's unique history and maintenance (see below) and despite Ferrari made so many of them, and (2) should I spend the at least $6,000 to have the belts changed beforehand? The belts haven't been changed in seven years. According to Patrick Ottis in Berkeley (who has been trusted to work on million dollar Ferraris world-wide), seven years is not a big deal at all and what you can get away with (rather than the now-three years Ferrari demands). Worth it to change the belts now, and be able to state they were just done, or let a new owner deal with it? Personally I feel that it's a red flag to sell the car w/o the service -- but what do I know.
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Here's the background on the car:
This car has won numerous awards, and was completely renovated.
The first owner of this car was Randy Jackson (Michael Jackson's brother).
Then Mike Regalia owned it. Mr. Regalia disassembled the entire vehicle and replaced every rubber part, and either powder coated, cad plated, or repainted everything. He also removed the engine to complete the factory updates and refurbish the suspension system with all new bushings and powder coating. Mike spent well over 2000 hours on the refurbishment, at a cost of $200,000. The interior was done in Connolly leather and all new carpeting passenger area, as well as the trunk. The seats are like no other Testarossa out there. Mr. Regalia purchased a set of Speedline 288 GTO wheels from a collector in Germany to enhance its appearance. They are quite striking with the custom knock-offs Mr. Regalia designed out of 440 billet steel blocks. I have the original Testarossa wheels as well.
My my Dad owned it from 1997 onwards. It has been garaged since then and never driven in the rain.
The car has some show experience as well. In the 1990's, Mr. Regalia presented the car in Palm Springs and won best of show two years in a row. It was shown at the FERRARIS on Rodeo Drive celebration among others. In addition, it was shown at the 2000 Concorso Itialiano in Carmel, CA, and the car received a Silver Award.
Just under 35,000 miles. All service records and receipts for parts. Last major service 2006 (belts changed). Newish tires and battery. Registrations for Randy Jackson and Mike Regalia, also the customs paperwork when Randy Jackson imported the vehicle from Italy. Receipt for 288 GTO wheels. Original EPA/DOT documentation. Tubi exhaust in 1997. FLAT 12.