my Dad's Testa.... for sale - Ferrari Life
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post #1 of 21 Old 04-24-2013, 07:45 PM Thread Starter
 
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my Dad's Testa.... for sale

Hi Everyone, I don't get on the site much, but did post previously about the TR I inherited from my Dad in 2009. I'm going to sell it, and here's the listing in case anyone is interested: Ferrari : Testarossa Euro | eBay

Easy on the corners....

Cynthia
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post #2 of 21 Old 04-24-2013, 08:25 PM
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Cynthia- Very pretty. Good luck on the sale.

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post #3 of 21 Old 04-24-2013, 09:47 PM
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Good luck, Cynthia! Don't you dare take a penny less than your buy-it-now.

PS. I hope you don't mind but I sent your eBay link to "Bring a Trailer" and Jalopnik. They love these listings. Fingers crossed they pick it up and give you the exposure.

Last edited by Sandy Eggo; 04-24-2013 at 10:04 PM.
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post #4 of 21 Old 04-25-2013, 09:23 AM Thread Starter
 
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Thanks so much Rick! Any exposure is great. I have 15 watchers on eBay but I know that doesn't mean much without an actual offer. The listing ends in a day. It was fun writing up the story on the car.
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post #5 of 21 Old 04-26-2013, 04:57 PM
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Hi Cynthia,
I was a watcher on Ebay; that's how I got my TR! very hard to determine the outcome until the end of auction though......even then it can be a challenge.

Best wishes on the outcome
Pete
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post #6 of 21 Old 06-04-2013, 12:00 AM
 
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Anyone know if this car sold?
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post #7 of 21 Old 06-04-2013, 07:40 AM
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Quote:
Originally Posted by colorinc View Post
Anyone know if this car sold?


Last I heard, no.
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post #8 of 21 Old 06-09-2013, 09:46 PM Thread Starter
 
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I still have the car. I'm getting it ready for an auction in Monterrey...
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post #9 of 21 Old 06-10-2013, 04:35 AM
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i am interested to know why someone would do such an extensive restoration on a 5 yo car. Most 25 yo TR's don't need that. Maybe a color change? was it originally yellow? good luck on the auction. I am sure you will do much better there than on ebay.



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post #10 of 21 Old 06-10-2013, 11:15 AM Thread Starter
 
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I spoke with M.Regalia a while back about this car. He just loved the Testarossa and this was a personal thing for him. He told me no sane person would have dumped all that time/money into a car. Knowing how meticulous he is about his restorations, I have no doubt he went a overboard on the car especially since it was his own.

It was originally a red Ferrari. Aren't ALL Ferraris red? Regalia told me there's some album cover with all the Jacksons and their cars....and there's Randy Jackson with this red TR in the photo.

Thanks for the well wishes on the live auction route. I got a lot of interest on eBay, but no cigar. I have a good feeling about the Monterrey auction. I'll be sure to check in if the car does sell. I'll be sad to see it go.
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post #11 of 21 Old 06-10-2013, 11:54 AM
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great looking car. pretty much exactly what i want. or black. wish i had the dough, i would make you a serious offer. good luck!



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post #12 of 21 Old 08-10-2013, 01:32 PM Thread Starter
 
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And there she goes..... off to Monterey for the auction block.
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post #13 of 21 Old 08-10-2013, 09:27 PM
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I am longingly reading your story!

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post #14 of 21 Old 08-18-2013, 02:27 PM
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Did you sell the car? I didn't see it at the Mecum auction in Monterey.
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post #15 of 21 Old 08-18-2013, 08:33 PM Thread Starter
 
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It wasn't at Mecum, it was at Russo & Steele.

It sold for ~$65,000. The highest bid was $59k, but the guy still has to pay a commission. So the ultimate sale price must be around $65,000. We'll know in a few days when Russo & Steele posts the price on the website. Russo and Steele - Past Sales Results

It was an unpleasant experience though. Those folks at Russo & Steele did it in a way I was not expecting, and I'm pretty pissed off right now. They lowered the reserve without my consent. Their rationale was they would cut their commission so I'd still have the same in my pocket. This might not sound bad, but the contract says nothing about them unilaterally being able to do this. I was more than happy to take it home if it didn't meet my bottom line price. It was my Dad's car after all. I wasn't going to let it go without a premium.

I drove the car onto the block, and the minute I got out of the car they were hammering me about lowering the reserve. People warned me about this, so I was prepared and unmoved by their imposing behavior. But my friends in the audience who had been watching the auction for hours beforehand told me they hadn't seen them do it as much as they did w/me. Probably because I'm a woman, and was the only female owner so far that night to drive a car onto the block. Every time they pressured me, I shook my head no, I wasn't gonna lower it. It couldn't have been more clear.

When the last bidder was at $59k, R&S sold it and cut the commission (so they say, we'll see...). I argued with them right there on the block, and they told me to piss off.

So the ordeal was very unpleasant and unexpected. Ultimately, the car needed a better owner. If my kids were older (and my money tree for maintenance were bigger), it would be different. Still, I was absolutely ok with and looking forward to having the car for another year or two. So was my husband, and he's just a clueless Lambo guy.

The silver lining is that I ran into the highest bidder on my way out of the place, and he's a REALLY nice guy with a REALLY nice garage. Late '60s and has 15+ cars in one HUGE garage that was absolutely immaculate! (I asked if he had photos of his garage so I'd know where the TR would be.) It was my Dad's garage ten times over, and the guy was very excited about owning this Testarossa. Said he didn't come to the event to buy it, but when he saw it, he had to have it. One of the cars he had in that garage was a 275 GTB that he's had for ages. He also said he'd give me a right of first refusal (I asked).

Still, I did not like the feeling of the rug being pulled out from under me. If they don't honor the reduced commission, then it really WILL be a bowling alley.

What do you all think of this? And what do you think of the price?

I had one guy come up to me right after who was just incredulous that I sold it at that price (I thereafter explained), and then a different guy who said it was a very good price (he was a TR owner and a mechanic). These two guys were polar opposites on what should have happened. As a refresher, the car was a 1985 TR, previously/completely restored by Mike Reglaia, had almost 35,000 miles, and just had an engine out major service (plus the new tires and battery not long ago).

Cynthia
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post #16 of 21 Old 08-18-2013, 09:40 PM
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Cynthia , i feel sorry about that horrible experience!
I think i would not sell a car thru an auction after hearing you tell this story!
On the other hand i think you got a fair price! I am not a Testarrosa expert put for what i now you did fine!

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post #17 of 21 Old 08-18-2013, 10:53 PM
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I have heard of auctions who do work in that manner and will drop the reserve in lieu of the commission, they want to sell, you want a fair price $59,000, then there is commission and taxes for the buyer if its registered in California, I think you got it for an 85 with 35,000 miles on that car. This Saturday Mecum had a red 88 1/2 with 36,000 miles sold for $51,000 and a white 88 with 27000 miles and it went for $50,000. Then there was the 92 512 TR that didn't sell at $120,000. You did OK...
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post #18 of 21 Old 08-19-2013, 05:03 AM
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I'd like to see a reply from Russo and Steele despite what anyone thinks is a "fair price."

Sorry to see it go Cynthia, but I'm sure it's with a good and proper owner.
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post #19 of 21 Old 08-19-2013, 07:03 AM
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Condolences Cynthia.

This is why it's so difficult for some/most of us to part with our cars - it's the emotionally wrenching experience that 1) We're losing something that's part of us, and 2) We're not getting what we feel they're worth.

It's really tough to stand back and take an objective view of the process when a car like this has meant so much to someone in the family.

My wife has already told me she'd just as soon bury me in my Maranello

'99 550, Rosso Corsa / Nero, S/N:114654, Assy: 31836, Engine: 52084

High mileage, low compression, and missing on a few cylinders.....just like my cars.

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post #20 of 21 Old 08-19-2013, 10:14 AM
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Emotional Value does not equate to market value...
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