1992 Ferrari 512 TR – Add 25% for Black/Tan!

Tony’s Take: When evaluating the value of a collector car, color combination is key. If this 36k-mile 1992 Ferrari 512 TR left Maranello’s gates in red over tan, it would hammer for somewhere between $235k to $250k. In black over tan, the value ascends by approximately 20 to 25 percent. Why’s that you ask?

People who can afford a Ferrari are, for the most part, corporate types. A high-flying executive rocking-up to a corporate parking lot in a red Ferrari is a red rag to a bull. The bull being employees who feel under-compensated. And investors, who figure an exec spending “frivolously” on a Ferrari may not be living up to their fiduciary responsibilities.

That’s why you don’t see too many red Ferraris in company parking lots: their owners keep them sequestered in the suburbs. Not so non-red Ferraris. They tend to be driven more. Yes, even to the office! That’s why Ferrari’s that aren’t red are considered an executive’s car.

What difference does the color make to how a Ferrari is perceived? ALL the difference. Don’t take my word for it. The market has spoken. The non-red Ferrari price premium exists, and isn’t [entirely] down to the fact that non-red Ferraris are rarer than red.

Of course, a Ferrari’s color has to be balanced against other factors. The most important of these: mileage and service history. If you’re looking for a Ferrari as a solid investment, the lower the mileage the better, as these comps demonstrate. (Note: all examples below red.)

Car ModelMileage/DistanceLocationPriceDate Sold
1992 Ferrari 512 TR80,778 miPoperinge, BEL$174,000Mar 8, 2023
1992 Ferrari 512 TR3,542 miLos Angeles $333,000Feb 9, 2023
1992 Ferrari 512 TR35,000 miLos Angeles, $235,000Oct 25, 2022
1992 Ferrari 512 TR*3200 milesLos Angeles$570,512May 23, 2022

So, investment or driver? As the baseball legend Yogi Berra famously advised, if you come to a fork in the road, take it! If you want to make money on a Ferrari, a low-mileage, non-red car with a stellar service history is your jam. If you want to have your Ferrari and drive it too, this well-serviced Ferrari 512 TR with nearasdammit 40k miles could be the best of both worlds.

Let’s say the new owner adds 3k miles a year to the odometer. He/she/them could enjoy their 512 TR for three years with a reasonable expectation that its appreciating value will cover the “extra” cost of “extra” mileage. Not forgetting that the Ferrari has to stored, maintained and serviced properly – which ain’t cheap.

Ultimately, whether or not this 1992 Ferrari 512 TR is right for the savvy collector depends on their personal preferences and priorities. But if you’re looking for a classic model to own and enjoy driving, you could do far worse than this preloved 512 TR for 300 large.

Model512 TR
Total Produced2,261 worldwide
Number of Owners7
Condition★ ★ ★
Price When New$198k ish
Inflation Calculator
Highest Previous Price$570,512 ( 5/23/22)
Auction HouseBring A Trailer
Auction Date03/22/23
My Prediction$295k – $305k
Hammered At$290k

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