Tip-Top Testarossa

The 1980s Ferrari Testarossa was a huge critical and sales hit—and is still a blast to drive today

by Steve Ahlgrim

The Testarossa was a significant advance for Ferrari. Designed for series production, this flat-12 supercar continued Ferrari's 12-cylinder tradition in a modern, mid-engined configuration that could be traced directly to the 512 and 312 sports prototypes and Ferrari's years of Formula One experience.

This 1988 Testarossa is a U.S.-delivery example equipped with stereo sound system and air conditioning. Its odometer shows just 37,227 miles, a reading that appears to be appropriate to its condition. It is complete with its books and tools and comes with an extensive file of ownership documents and service history.

Perhaps best of all, it is distinctively finished in Argento (silver) over Bordeaux leather upholstery, an attractive complement to the distinctive lines of the Testarossa's Pininfarina body design and a refreshing change from the common red over tan. Freshly serviced, this attractive, handsome Argento Testarossa is ready to be used and enjoyed.

The SCM Analysis

This car sold for $63,250 at RM's Collector Cars of Ft. Lauderdale auction on February 16, 2008.

One of the perks of being a franchised automobile dealer is going to dealer meetings. The meetings are often lavish affairs in fun locations with an obligatory excess of food and libation. Dealers complain about having to go to the meetings, but few share the chore with the next in line or gain much sympathy from their audience.

Ferrari is no different from other manufacturers and as you can imagine, Ferrari throws quite a soirée. In 1984, franchised Ferrari dealers from around North America were treated to a pilgrimage to Maranello for a dealer meeting and their introduction to a new model that would forever change the business of selling Ferraris.

Near silence when the car appeared

The guests were taken to the Imola race track, where three new Testarossas were waiting for critical inspection and track time. The car had already been shown in Europe and anyone interested could have seen detailed photographs of it, but this was the first time most of the guests had seen the car in the flesh. I'm told there was near silence while everyone crawled into, out of, and under the car. It was stunning in the flesh, a total departure from its predecessor and a bold statement of Pininfarina's talent. Everyone recognized it would be a cash cow, but no one could have anticipated what the next few years would bring.

You might expect Ferrari's test drivers to cut back a couple clicks when chauffeuring an important guest, but the reality is the opposite. The drivers seem to relish showing off for a passenger by dancing the car around the track in a flamboyant fashion that is as much a demonstration of their car control as it is the fastest way around the track. The Testarossa event was no different. The pilots showed the grand touring machine could be as nimble as a sports car, pushing the car to its limits and encouraging the guests to be aggressive when it was their turn to drive.

The demonstration hit its mark, and the dealers returned home wildly enthusiastic about the new car. Not long after the dealer event, the first North American preview of the Testarossa was staged. The invitation-only presentation was sponsored by Philip Morris and held at the Whitney Museum of American Art in New York. Few people even noticed the Marlboro-liveried Ferrari F1 car, as the red Testarossa stole the show. Again, the response was wildly enthusiastic and fueled a buzz that attracted people who had never before considered a Ferrari.

Almost no way to lose money on one

Testarossa hysteria exploded through the late '80s and peaked in late 1990. In the U.S. the 1974 Daytona was the last officially imported 12-cylinder Ferrari. By 1985, the strong pent-up demand for a 12-cylinder Ferrari fueled the anticipation of the exciting new model. Before the first car was delivered, many dealers had sold their allocation way into the future. When the first cars began to hit the dealerships, the law of supply and demand kicked in. Buyers unwilling to wait in line for a car started offering a premium for an early delivery position or a resale.