Have Testarossas & 512TRs bottomed? - Ferrari Life
 
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post #1 of 13 Old 02-14-2008, 10:30 AM Thread Starter
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Have Testarossas & 512TRs bottomed?

I'm new to the forum here and this is my first post. I have a Shelby that I paid 15K for 15 years ago that is currently worth over 120K in its' current state. I plan on buying a Ferrari with my dough and I am trying to make an intelligent buy with my money. I don't need to make any money, I just want to protect my money. I'm not a rich man, but I have a strong mechanical ability. I have restored numerous Shelby's and specialized rare muscle Fords and Mustangs over the years. Additionally, I am a former FIA, IMSA and SCCA National license holder. So I'm not new. I'm interested in purchasing a 512tr, but I need to do my homework first. Have Testarossas and 512TRs bottomed out in the market yet? I've heard that the Testarossas have bottomed in value. Is that true? And what's the general opinion on the 512s? I know the current values on the 512s is considerably higher. All Opinions welcome...

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post #2 of 13 Old 02-14-2008, 11:06 AM
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Welcome. If you need any advice on mechanics of TR's 1998silvergts has written some excellent posts on how he has taken his 512 TR to bits and rebuilt it.
I'm in the UK, so not qualified to talk about US prices, but I'd guess the market is similar. I regularly check the independents stock and prices and haven't noticed a downward shift in TR's or 512 TR's in the last 3 years, if anything I'd say they might be edging up a fraction.
very approx guide to prices for good condition/history low mileage cars at independents
Early single wheel bolt TR 30K - 35K GBP
Later 5 bolt TR - 33K - 38K GBP
512 TR - 37K - 42K.

Personally, I'm waiting a couple of years for 550M's to get down to 512 TR money.

Archie
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post #3 of 13 Old 02-15-2008, 02:55 AM
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Testarossas and 512 TRs are definitely fully depreciated. Price moves now are being driven by supply and demand. The TR enthusiasts seem to favor either the very early single miror cars or the late 512 TRs. They are expensive to maintain but if you can do a lot of the work yourself this should save $$$.
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post #4 of 13 Old 02-15-2008, 09:36 AM
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Quote:
Originally Posted by gsjohnson View Post
I'm new to the forum here and this is my first post. I have a Shelby that I paid 15K for 15 years ago that is currently worth over 120K in its' current state. I plan on buying a Ferrari with my dough and I am trying to make an intelligent buy with my money. I don't need to make any money, I just want to protect my money. I'm not a rich man, but I have a strong mechanical ability. I have restored numerous Shelby's and specialized rare muscle Fords and Mustangs over the years. Additionally, I am a former FIA, IMSA and SCCA National license holder. So I'm not new. I'm interested in purchasing a 512tr, but I need to do my homework first. Have Testarossas and 512TRs bottomed out in the market yet? I've heard that the Testarossas have bottomed in value. Is that true? And what's the general opinion on the 512s? I know the current values on the 512s is considerably higher. All Opinions welcome...
Dear Comrade gsjohnson,

I have a 512TR that has been within my custodianship for many years long standing. It is a wonderful motor car and nothing would encourage me to part with it. In every way possible it is truly sublime.

Comrade Boxer has stated that they are expensive to maintain. However, I have not found this to be the case. Naturally, the cam belt change is not inexpensive as it requires the engine to be removed.

The 512TR is a very different motor car to the Testarossa. I have not driven a Testarossa, but my understanding is that the 512TR is more refined.

I have no evidence to corroborate my opinion, but I suspect that the Testarossa, 512TR and 512M have depreciated as much as they are likely to.
I suspect that if you take your time and make certain that the car you eventually acquire is a very good example, I am confident that you would be very happy with it and likely to have the additional comfort of zero depreciation and perhaps, even a gradual appreciation. All this notwithstanding, should a poor example find its way into your tutelage, you may well find that Boxer's opinion may well come home to roost. As I can well understand how the maintenance costs could go into orbit. So do be careful and make haste slowly. One final comment, there were essentially two examples of the 512 TR. The later version had ABS and other refinements. So you would be best advised to find one of these if at all possible.

Regarding maintenance: I have a friend within The United States of America and he has a 512TR. He is a physician and performs all of his own maintenance - including removing the engine for the cam belt change. So it is possible for someone with the desire and the mechanical aptitude/expertise to perform their own repairs and servicing.

I live in England and have presumed from your post that you live within The United States of America. However, should you be domiciled in Florida I could speak to my friend there and I do feel most confident that he would be only to pleased to proffer help and advice.

All good wishes.

With kind regards,

Vulcan F-40

Last edited by Vulcan F-40; 02-15-2008 at 09:45 AM.
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post #5 of 13 Old 02-16-2008, 06:35 PM Thread Starter
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Wow! 1998silvergts and Carguy really get after it. Nice writeups and very helpful. I'm getting ready to get on the hunt ...
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post #6 of 13 Old 02-23-2008, 02:20 PM
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Originally Posted by gsjohnson View Post
Wow! 1998silvergts and Carguy really get after it. Nice writeups and very helpful. I'm getting ready to get on the hunt ...
Silvergts1998.

1992 Black Lamborghini Diablo
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post #7 of 13 Old 02-23-2008, 06:12 PM Thread Starter
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Silvergts1998.
So, what's your opinion of the thread's question? Do you think that the 512tr has bottomed in the market? I looked at some ads from 2001 and it seems to me the prices were the same back then. True?
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post #8 of 13 Old 12-04-2008, 12:03 PM
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Quote:
Originally Posted by gsjohnson View Post
So, what's your opinion of the thread's question? Do you think that the 512tr has bottomed in the market? I looked at some ads from 2001 and it seems to me the prices were the same back then. True?
While prices of 360 and 430s have dropped recently. It looks like TRs have held pretty well.
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post #9 of 13 Old 12-04-2008, 12:21 PM
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My observation of the current Uk market at dealers is that early TR's are very steady at late 30K's. ABS low mileage 328's are still low to mid 30K's, but steel 308's and QV's have fallen to early 20K's. I can't figure out why steel 308's and QV's have fallen 10-15% but TR's and 328's haven't. Fibre glass 308's are low to mid 30K's.
I would have thought they would all be affected/unaffected in the same way?

Archie
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post #10 of 13 Old 02-03-2009, 01:23 PM
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I own a 1988 Ferrari Testarossa and by far is one of my favorite cars. They have been holding strong around the $65K mark. I recently spent over $25K on a full engine out service, new wheels and tires, capristo exhaust, new stereo, and tons of punchlists. I went over the extreme since I am not cheap in maintaining all of my exotic cars but as long as you take care of it, the car is a super dependable car.
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post #11 of 13 Old 02-03-2009, 09:32 PM
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Originally Posted by Lambo65 View Post
I own a 1988 Ferrari Testarossa and by far is one of my favorite cars. They have been holding strong around the $65K mark. I recently spent over $25K on a full engine out service, new wheels and tires, capristo exhaust, new stereo, and tons of punchlists. I went over the extreme since I am not cheap in maintaining all of my exotic cars but as long as you take care of it, the car is a super dependable car.
Very interesting comment, especially given the other magnificant machines in your garage. What makes the TR so appealing vs the others ?
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post #12 of 13 Old 02-04-2009, 07:54 AM
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Very interesting comment, especially given the other magnificant machines in your garage. What makes the TR so appealing vs the others ?
I really do not know but maybe the reason it is one of my favorites is because it was my first exotic car. I actually wrecked the first 1988 Testarossa I had and this is my second 1988. It is a really fun car to drive and it has been very dependable and user friendly unlike the Countach which I own two, a 1986 and 1988.
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post #13 of 13 Old 02-07-2009, 12:26 AM
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Originally Posted by Lambo65 View Post
I really do not know but maybe the reason it is one of my favorites is because it was my first exotic car. I actually wrecked the first 1988 Testarossa I had and this is my second 1988. It is a really fun car to drive and it has been very dependable and user friendly unlike the Countach which I own two, a 1986 and 1988.
Any specific reason for buy 1988 TRs ? Where there a number of changes made between the 87s and 88s ?
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