Cars like this Ferrari rarely go on sale and can largely be found in the private collections of celebrities and racing drivers.
Western Cape, South Africa (23 July 2020) – The economic pressure of COVID-19 has seen many South Africans cash in on their valuables – including vintage cars. As such, there are many treasures making their way onto the market, including a rare Ferrari that has never before been sold in the country.
The rare UK specified RHD Ferrari 512TR, for sale on Gumtree.co.za, is the 57th of 80 cars imported new into the UK. The particular model is one of only thirty-eight fitted with an ABS braking upgrade and was exported to South Africa in 2009 by a private collector. Very few of these cars come on sale today and can largely be found in the private collections of celebrities and racing drivers. (Enzo Ferrari gifted one to Don Johnson, as he was a huge Miami Vice fan).
The 512TR is powered by a 4.9L flat-12 engine, rated at 315kW/428bhp at 6,750 rpm, with a quoted top speed limited to 320kph. The 18-inch Speedline wheels proudly boast the yellow prancing horse centre caps, and the interior is trimmed in cream leather with red carpets. The car is for sale with its original books and Ferrari tool kit.
Jeff Osborne of Gumtree Auto says while most cars do not appreciate in value, rare classics can be an excellent investment.
“Most collectors buy these cars for the sheer joy of ownership, but it can pay large dividends. It won’t be easy to find the right buyer, and you can’t guarantee a quick sale, but for if you have a rare gem and maintain it well, you could turn a significant profit.”
If you do get your hands on a classic Ferrari, there are just a few boxes to tick.
“Check that all of the instruments work. If infrequently used, the fuel metering heads will gum up and lead to starting problems, but you are unlikely to encounter any electrical issues. Many owners upgrade the exhaust, so make sure the engine still sounds like a Ferrari – it’s part of the appeal! Wear and tear on the bolsters, and seat mechanisms need to be examined as they can be expensive to repair. Tyres are similarly quite tricky to find so make sure they are in good condition.”
According to Osborne, there is one issue you don’t have to worry about. “The engine is allegedly bomb-proof! You do get what you pay for, and with the price tag of a Ferrari, quality is guaranteed. In general, this was a poster car for its era and is climbing in value. It’s a collectors’ dream.”
The 512TR is up for sale for R5.3million and be viewed in the Western Cape.