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Thread: REAL Ferrari Testarossa Spyder project car for sale

  1. #1

    REAL Ferrari Testarossa Spyder project car for sale

    Hello everyone,

    While this is my first post on this forum, I have been following your builds and passion for hand-built unique cars and replicas for years. I have been interested in the kit car world for over 25(!) years, have owned (had built by IFG) a Mercedes SL kit on a Le Baron convertible, bought (never built, and sold) an IFG F355 kit, a couple of Fieros, etc.,etc.- my stack of "Kit Car" magazines goes back to the '70's when Fiberfab was king! As we all know a lot of projects never get finished for one reason or another, be it money, time, expertise, etc. not to mention all the wannabe b.s. artists who claim they can do this or that but fail to deliver anything even close to their promises. That being said, I am now contemplating selling my dream- a (genuine) 1986 Ferrari Testarossa Spyder which is about 80% complete (give or take). I actually bought this car from Ray Hoogenraad, the owner of IFG during the course of our business together, and I believe this is the car Ray took molds from to make his stretched Fiero T/R kit in the 90's (which as we know ending up in one of the first notorious Ferrari lawsuits which resulted in Ray cutting up the molds in front of the lawyers, etc.)

    When I got the car the body panels were in boxes (hmmm...), and Ray had already cut the roof off and welded in structural reinforcements along the rocker area to stiffen the chassis (I believe he was going to offer a topless version of his kit). The engine was in but not running, many of the mechanical parts were not installed but were with the car. I have since spent over $20,000. to get the motor rebuilt and running, new clutch and pressure plate, new brake booster, etc. Another $10k in body work has been done to smooth the aluminum skin, the engine cover is now hinged at the rear of the car ("suicide-style") just waiting for hydraulic activators(?) but the deck lid needs a little TLC from someone with aluminum fabricating/welding skills. I have the complete original interior (not installed) which obviously would need to be recovered and put in.

    I guess the reason I'm offering it for sale here is for a couple of things- I know the person that buys it will have to have some mechanical skills/ project experience to see it through. It is a true exotic, and when you're done with it you will need no excuses! It will sound like a Ferrari V-12 because it is one! I know the current prices for these cars, typically $50-60K in primo condition, but remember this is a spyder, Ferrari never officially made one, only R. Straman Co. converted a few Testarossas in the 80's and 90's. Only 1,000 T/R's were built in a year for their 10 year production run, so there are only 10,000 of these cars on the planet! And this would be the rarest of the rare, an open top car.

    The buyer would be able to choose the color of the body and interior to suite his taste (I was personally going to go with Lamborghini pearl orange). For the price of a fiberglass kit with all the pieces, glass, interior, etc. and to take a "donor" car and upgrade it to these kind of specs would, I think, cost as much or more as I'm asking. And you'd still have a "replica". I have invested upwards of $75,000. in this over the years, and while great progress has been made I feel it is now (reluctantly) time to sell. I am asking $28,000. firm, no trades or b.s. You can disagree with me about the value of this but I know what I have into it, and what it can be. I think that anyone that would be willing to spend (realistically) $35-45K on a finished kit car (you guys know it's tough to do anything decent for $25-30K right?) would be right for this deal.

    Anyway let me know your thoughts. I appreciate everything you guys do... I'm a car lover/nut too, and enjoy the sound and looks of a radical ride!

    Thanks!
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  2. #2
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    nice car

  3. #3

  4. #4
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    It looks really sad sitting out there. Hopefully you get that machine back together. The problem with these cars, as always, is that once torn apart, it's hard to bring them back to the same value. These that have been converted by a professional (i.e. Straman), still bring maybe 10k more than a coupe, with the limited sales I've seen of them. The FCoA guys will tell you that you have to have some provenance and show that the windshield pillars are properly supported, clearance by the engine bulkhead is available but uncompromised (meaning the seats wont move much), and that the car has been properly maintained because of known ignition and transaxle issues. While this is a beautiful car, and I have many projects like it (cars I know are worth a great deal because of my investment and their potential), this will be a tough sale. I would argue that this could be worth far less than a Straman conversion, for obvious reasons, and to be realistic about selling it in this condition, you will have to acknowledge the money and work left to complete it, and use that to price it accordingly. It's valuable as parts as well, but honestly that would be almost as sad as seeing it sit. Good luck with the sale, I hope someone brings this thing back to the streets.

  5. #5
    Hi CCIE,

    Thanks! I went to Ebay on your link and you're right, that auction appears like the car is going for $35K, but it says "reserve not met" and the auction closed. However it is back up again today... The other T/Rs on Ebay I saw were going for $57K, $51K, $99K, $45K and $89K in various years and miles. I also learned something I did not know in one of the ads- Ferrari only made 5,620 Testarossa's in their entire production run, not 10,000 like I thought! Which makes this car even more rare!

    So I was thinking, what if somebody used my chassis/drivetrain for a 458 kit? The dimensions are very close, it's already a 'vert (well, "spyder" as I don't have any kind of top yet), it's a mid-engine 12 cylinder with trans, steering, brakes, etc. already done...

    Uh, any thoughts?

  6. #6
    Hey RUSHAVED,

    Thank you for your kind words and knowledge on this subject. I am a realist also when it comes to most things, and you're right, the Ferrarista purists probably wouldn't be too thrilled with this as it is not "factory", nor is it a Straman. I realize all this plays into the value of any car, but for me, personally, I like to make cars for my enjoyment and taste, and usually it's just a matter of finding a buyer who agrees with me, and likes my style and execution of design. For me, it's a matter of "smiles per gallon"!!

    BTW, what do you think of my idea of using this car as a donor for a 458...?

    Thanks again, friend

  7. #7
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    I think this car would make a beautiful and unique 458 donor. It keeps its Ferrari diploma, and gets an updated dress. And it leaves the builder with coachwork that could bring some decent money to fund the new. The only issues are cost of ownership after, which can be pretty pricey on a genuine Ferrari, and the antiquated technology. The wildly expensive costs to tune up and maintain, and the insurance factors are just some of which replica owners enjoy doing without, that may end up as being a deterrent as much as the pedigree is a draw. Quite a few people have talked of buying a salvaged 360 for a 458 build, because they too are becoming affordable, and the update would end up looking the part much more easily. With wrecked 360's in the range now, this again can affect pricing as well. And to go back to the comparable TR, these can be found in great condition within 10 to 15k of this one, which we know would be the least cost one would expect to incur to finish it right, leaving the issue of how devalued the car might be with the aftermarket chop. To be honest to the car, I would much rather see you or someone finish it the way it was meant to be. One day in the not so distant future people will wish we hadn't cut up all these cars.
    Last edited by RUSHAVED; 02-27-2013 at 05:06 PM.

  8. #8
    Again your thoughts speak wisdom in this, my friend. I am indeed reluctant to sell my car at all, either for someone else to finish or to update with a new body. You know the good thing about building a car as a "project" (whether it be a kit car or genuine) is that while most people can't afford to just go out and spring for the entire amount of the finished vehicle at one time, by building it a little at a time allows them to cash-flow it more easily. To digress back to the subject of a 458 build, I have been talking with Xisco in Spain about his 458 body and he said the first few kits will not be fitted to any donor in particular, rather they will be a do-it-yourself proposition for the first few builders on whatever platform they want. I'm sure he'll eventually settle on a standardized fitment (Gen 7 Celica perhaps?), but for now, maybe there's some brave soul with enough talent (and funds) to do this build?

    Regards!

  9. #9
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    If you really want $28k sell the drivetrain for $20k to someone who needs ferrari parts

    and then sell the body for $10k

    People who build kit cars don't want the expense of maintain a Ferrari .

    The only two groups of potential buyers are Ferrari owners and kit car builders . Ferrari owners will only be interested in the parts and kit car builders will only be interested in the body



    don't think you'll get $28k as it sits , separate the parts

  10. #10
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    Thanks for the input, I did know that one of the things about kit cars is the lower maintenance costs, I actually bought this car during my journey to buy/build either a Diablo or 355 kit car back in the day. I'm now reconsidering even selling my car... :/ I'm somewhat torn between A) keeping it and finishing it as is, a TR Spyder, B) buying a 458 body and turning it into the "newest thing" with real Ferrari running gear, or C) selling it and maybe building a Murcielago kit on a Boxster. It's a tough choice whichever way I go, each option having it's own pluses and minuses. But no matter what I will end up with a sweet ride! If I do decide to keep it, I'm not sure you guys on the forum would be interested in a build journal or not, as it's really not a true "kit car" per se (although I did originally get the car in several boxes!!) I would be happy to post my progress if you want- for me it is pretty much the same to take a bunch of parts and turn them into a thing of beauty, be it a kit car or genuine, right? Meanwhile, I'll just look at pictures of what "might be", and dream...

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