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Hello everyone,

I have always been a fan of the late 80's Ferrari Testarossa (esp the single mirror earlier models). I can't really describe why I like these the Testarossa's so much but it's probably due to the engine sound they make. Also, watching Don Johnson driving one in Miami Vice also did it's thing.

So here is my question. I was recently researching prices on-line and was literally mind blown that you could still find decent examples for under $100k. Why is that? Also, another question. Why are the 90's 512TR's so super expensive??? I mean all of them that are half decent. I don't think I found one for under $200k+ that I remotely liked. Isn't the 512 a literally the same car? Ok, I get it is a improved Testarossa but at 2-3x times the price? Come on....

Also, has anyone owned one? I know everytime I mention old Ferrari, all I hear is that stupid "cam-belt" or "engine out" stories.

Thanks,
David

Oh, some pictures and sounds:

Testarossa:


512TR




Some sounds in case your Friday is a little un-exciting.
 

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It wasn't long ago (less than 2 years) that you could find an early model Testarossa for not much more than $50k. :(
 

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7,177 Testarossa were made, but only 2,280 512TRs were made. The F512Ms are even rarer, they only made 500.
That, and the TR looks absolutely perfect and not nearly as dated even with just the subtle changes it has. It's like the 348 vs the 355. Just a far better design with only subtle changes overall.
 

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That, and the TR looks absolutely perfect and not nearly as dated even with just the subtle changes it has. It's like the 348 vs the 355. Just a far better design with only subtle changes overall.
I completely agree.
 

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The 348 vs 355 example is a good analogy. Most non car enthusiasts wouldn't be able to tell the difference, despite obvious styling cues, and would probably figure they're the same car. Only until the 360 would most average people kind of notice its more modern curves. The Testarossa and 512 look even more similar to the regular joe on the street and I think would largely go unnoticed, despite the fact that there could potentially be close to a 10-year difference between model years.
 

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The 348 vs 355 example is a good analogy. Most non car enthusiasts wouldn't be able to tell the difference, despite obvious styling cues, and would probably figure they're the same car. Only until the 360 would most average people kind of notice its more modern curves. The Testarossa and 512 look even more similar to the regular joe on the street and I think would largely go unnoticed, despite the fact that there could potentially be close to a 10-year difference between model years.
The 512 also is acknowledged to be a significantly better handling car.

sent from 51 Erindani b using Morse code
 

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I was gonna comment on the white 512 but then I saw the white 288 at the end and forgot what I was going to say, thanks NoXenons :mad:
 

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It wasn't long ago (less than 2 years) that you could find an early model Testarossa for not much more than $50k. :(
Yep. Couldn't really give them away but now I've seen some up in the hundreds of thousands, and not 512Ms even. It's gonna be rough when this one bursts.

 

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Yep. Couldn't really give them away but now I've seen some up in the hundreds of thousands, and not 512Ms even. It's gonna be rough when this one bursts.
I'm not sure that's going to happen. There's been an explosion of wealth in Asia and tons of new multi-millionaires and billionaires being made that simply didn't even exist before. There's a limited supply of luxury goods such as classic cars in the world, and yet the demand side (the number of super-wealthy) has exploded. Normally a bubble happens when there's no new wealth, but instead of huge number of the ordinary investors all chasing the same asset class. This time is different: this time the total amount of wealthy people has dramatically increased. New billionaires that simply didn't exist before, rather than the same small pool of them all suddenly chasing one asset class.

The other thing that widely defines a bubble is borrowing. The last housing crisis was fueled by borrowing. Everybody was borrowing from the person to their left, and doing so in a circle of sorts. Nearly all stock bubbles happen when people get overextended on margin, or multiply their leverage with time-limited options contracts. Classic sports cars are still ultimately not that expensive and are not generally purchased by taking out a 90/10 loan. In fact I'd bet that nearly every single classic car is purchased outright with cash. You simply do not get a bubble in the same way when loans are not involved and there's no time-crunch, in the way that options contracts are time limited.
 
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