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The 1984 list price for the Testarossa on its 1985 model year introduction to the U.S. was deceptive. Despite being essentially a mass-produced car, it hit as Ferrari fever was beginning, and there were extreme markups, especially after six months or so, when people finally saw the car in person. Reportedly, few customers found one for the advertised high-five-figure price--we've heard that $110,000 and higher was more common. Eventually, the appetites of early adopters were satisfied, but by 1987 or '88, list prices had reached $135,000 and caught up to the retail market. Over six years of U.S. sales, the sticker price climbed 168 percent, gaining an average of $13,000 year.

Five years after Testarossa production ended, you could still buy its successor, the 512TR (then the 512M). When it was introduced, it was literally a showstopper, but now the 348 and new F355 were distinctly similar. If you wanted a Ferrari that really popped, you had to aim for the half-million-dollar F50. The hard core "F1 car for the street" had a sufficiently different mission from the GT Testarossa that prices of the original stayed very strong for several more years.

By the time it had been out of production for a decade, though, a new 400hp F360 Modena had been introduced. It didn't have the presence of a Testarossa, or 12 cylinders, but it had a base price of $138,000, effectively rendering a whole slew of models from the past 15 years obsolete. Prices for the TR bottomed out fast and stayed essentially unchanged.

If you look at price guides, you'd think that was still true--the Hagerty price guide at www.hemmings.com/price-guide/ says it's $60,000 in #1 condition; and at press time, three of the 11 with prices listed in Hemmings were at $59,000. Those were on the low end, though, and the average of the 11 was $68,290. That tallies very well with auction results, which we calculate to have brought an average of $65,270 since 2011. More tellingly, a true time-capsule 129-mile 1989 Testarossa sold for $264,000 in Monterey in August 2012. That was an outlier price for an outlier car, and we didn't include it in our auction average, but no one is paying a quarter-million dollars for '89 Jaguars. (If you are paying a quarter-million dollars for '89 Jaguars, please call us on our personal line. We have an opportunity for you.) Our rule of thumb is that if a car was on posters when people were teenagers, then those people will want that car 25 years later when they start to have discretionary income. No car was on more Eighties posters than the Testarossa, and a generation of enthusiasts now in their 40s can think seriously about owning one. We feel the value curve has nowhere to go but up.

Value trend

1985: $90,000

1990: $168,000

1995: $95,000

2000: $65,000

2005: $55,000

2010: $55,000

2013: $65,000

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