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My opinion is, as these cars have become extremely valuable and 'collectible', as many Ferrari models are and have been, that paperwork is pretty important. A Ferrari without records lacks pedigree and a car lacking provenance and pedigree is equal to money lost.
Although it is hard to determine the exact dollar amount, to have no records means everything to some people --- and nothing to others.
Since currently there are no ways to appraise something without books or records, as people don't usually appraise records or a window sticker, I still still say that the car would take a $2500-$4500 hit. Why? Because there is very important information in records for these now expensive cars that would answer questions like when was this done? Should I do this, as the mileage says I should, but I don't know if it was done and I may waste money and time doing it?
I'd say $4k easily. I am a records and paperwork guy myself. I don't write down every time I fill the car at a gas station (my buddy used to do this), but I keep everything. Every car I ever buy used I want with records and receipts. The Volvo XC90 and two Audi TTs I bought had stacks of them. That's why I bought those cars.
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