RHD Ferrari Testarossa just sold for markedly less than the current going rate – is the market for this quintessential ’80s supercar beginning to cool off ?
Market figures are pointing to a gradual decrease in sales figures achieved by Ferrari Testarossas at auction of late. Once the poster-child for 1980s Ferraris, the Testarossa represents the quintessence of wedge-shaped, mid-engined Italian exotica. The dream of many a school child that adorned their poster wall has for a long time had a rough market price of over £100k with lower mileage and RHD examples typically pushing that price up; closer to £200k wasn’t an unrealistic figure for cars of exceptional quality or provenance. However one apparently changed hands for just £88k in a recent online auction.
The Testarossa in question had just 23,778 miles on the clock and was RHD, of which only 438 were ever produced by the factory. furthermore it was described as having ‘a detailed service history’ and to be in ‘remarkable condition.’ At £88,000 that’s 12 per cent less than the average auction price for one of these iconic Ferraris but is this a trend that’s only in its infancy?
Hampson Auctions sold a similar mileage example, but in LHD, in October for £96,333 (including buyer’s premium) while an example listed with Bonhams in April at the Goodwood Members Meeting sale failed to sell with its pre-sale estimate of £100,000-£120,000.
In contrast, though, RM Sotheby’s saw success and strong numbers, with two in its London Motor Week sale making £170,200 and £103,500 respectively. True, the £170k example had been specially made in RHD with NM-initialled fitted luggage for presentation to new Scuderia Ferrari driver Nigel Mansell on his signing back in 1988.
The second example, one of 438 production RHD TRs from the 7000-strong production run, had just 161 kilometres on the odometer from new and came from ‘The Factory Fresh Collection.’ It should be noted, however, that the buyer may need to add applicable VAT and import duties to the final hammer price were the car to remain within the UK.
While all this is in reference to just one car, it does correlate within reason, to the report in our 22 November issue, where we commented on a 32 per cent decline in prices across the auction market over the last full year.
