1993 Ferrari 512TR spider

Tony’s Take:

10 Key Factors:

1. 🟢 Title: Clean title with no issues
2. 🟢 Carfax:
3. 🟢 Miles: (360 miles)
4. 🟢 Paint Condition: Factory-original, well-maintained, refinished in original color
5. 🟢 Stewardship: Primarily retained by Alfred Tan, current consignor
6. 🟢 Service History: Comprehensive and consistent service history.
7. 🟢 Desired Color: Vehicle in a unique and sought-after color (triple blue combination)
8. 🟢 Equipment:
9. 🟢 Unmodified:
10. 🟢 Tire Condition: Excellent

Secondary Factors:

1. Performance: Producing 428 horsepower.
2. Original Price of Regular TR: Estimated at $195,500
3. Production Numbers: One of only two 512 TR Spyders converted by Pininfarina.
4. Style: Unique “triple blue” color combination and rare 512 TR conversion, a standout example in any collection.

Summary Components:

1. Introduction:
   • The 1993 Ferrari 512 TR Spyder, commissioned by Ferrari and Pininfarina for the Royal Family of Brunei, exemplifies automotive craftsmanship and exclusivity. However, it was never delivered to the Royal Family and was retained by Alfred Tan in Singapore for his collection.
2. Vehicle Overview:
   • This 512 TR Spyder is the sole example finished in “triple blue.” Recently, it underwent a $65,000 cosmetic recommissioning by RM Auto Restoration.
3. Specification Highlights:
   • Engine: Matching-numbers 4.9-liter flat-12
   • Transmission: Five-speed gearbox
   • Power: 428 horsepower
   • Color: Blu Cobalto over Blu Scuro Connolly leather
   • Mileage: 575 km (~360 miles)
4. Unique Selling Points:
   • One of only two 512 TR Spyders commissioned by Pininfarina
   • Recently underwent $65,000 cosmetic recommissioning
5. Market Analysis and Comps:
   • Comparisons with other non-coach built 1993 Ferrari 512 TR models suggest a significant premium for this vehicle, valued at approximately five times that of a standard model with similar mileage.
6. Conclusion:
   • The 1993 Ferrari 512 TR Spyder stands as a distinguished exemplar within the realm of classic automotive investments, particularly resonating with the discerning tastes of Generation X. This demographic, now at the pinnacle of their financial capabilities, is fervently acquiring the dream cars of their youth. Consequently, vehicles from the 1980s and 1990s have seen a significant uptrend in value. The 512 TR Spyder, with its bespoke attributes and scarcity, exemplifies an exceptional opportunity that captures the essence of this surge, promising substantial appreciation in the collectors’ market.
7. Auction Price Prediction:
   • $2,700,000 – $3,500,000 USD.
8. Rienzi Report, Price Prediction:
   • Approximately 20% less than the auction estimate, around $2,800,000 USD.
9. Investment/Future Projections:
   • With iconic cars like the Lamborghini Countach fetching over $1.2 million for rare models and strong demand for low-mile 512 TRs, these rare conversions are highly desirable. The market for classic high-performance cars is growing, especially with the shift towards EV technology, making it logical to anticipate that the value of unique 512 TR Spyders could potentially double.

Vehicle Description Summary

To be offered at auction at RM Sotheby’s Monterey event from 15-17 August 2024, this 1993 Ferrari 512 TR Spyder is estimated to fetch between $2,700,000 and $3,500,000 USD. It is one of only two 512 TR conversions commissioned from Pininfarina by Ferrari, originally intended for the Royal Family of Brunei. This car is the sole example finished in a stunning “triple blue” color combination and is powered by its matching-numbers 4.9-liter flat-12 engine and five-speed gearbox, with fewer than 575 km (~360 miles) on the odometer.

The vehicle recently underwent a $65,000 cosmetic recommissioning by the eight-time Pebble Beach Concours-winning team at RM Auto Restoration, including refinishing in its original color and fitting with a new convertible top.

The Ferrari Testarossa, with its iconic 1980s design, evolved into the 512 TR with updates in styling and engineering, including a revised chassis to lower the engine and transmission, resulting in improved center of gravity and handling. The 512 TR’s flat-12 engine was enhanced for better performance, producing 428 brake horsepower.

Despite these improvements, some clients sought even more exclusivity, leading to bespoke commissions like this 512 TR Spyder. The Brunei Royal Family, known for their extensive collection of custom Ferraris, had multiple coachbuilt Ferraris commissioned throughout the 1980s and 1990s. This particular car, however, was retained by Alfred Tan in Singapore and never delivered to Brunei.

The car was exhibited at Ferrari’s 50th Anniversary celebrations in Rome in 1997 and remained in Tan’s collection for 30 years before being purchased by the consignor in November 2023. RM Auto Restorations has meticulously restored it to perfect presentation.

This 512 TR Spyder, with its unique provenance and limited production, presents a rare opportunity for collectors. It is expected to attract significant attention at the upcoming auction.

Please note that an import duty of 2.5% of the purchase price is payable if the buyer is a resident of the United States. For more details and to view other cars consigned to this auction, visit the RM Sotheby’s website.