Guida values of 575M vs 599 in Cavallino Mag

Like many of you here I do not subscribe to the Ferrari Market Letter but I do read Forza-Mag and Cavallino Magazine regularly. I always like to follow the “Guida” at the back of each Cavallino Magazine issue which is a market pricing guide for most Ferraris. Its interesting to note that up until just 3 or 4 months ago, the Guida was consistently showing the value of the “575M Maranello” at between U$80,000.00 to US$120,000.00, but since then, due to the sale of some 3 pedal 575s at auction, the estimate has risen to between US$120,000.00 to US$385,000.00. Quite a jump! Since I own a 575M Maranello F1, I tend to only look at the pricing of this model, however, due to the fact that recent postings in this forum have stated that 575s and 599s are now trading for even money, or even perhaps to the advantage of the 575 side, I made a point of seeing what the 599 prices are listed at in this month’s issue (March 2016). Interestingly they mark the “599 GTB Fiorano & HGTE” at between U$150,000.00 to US$500,000.00.
What’s interesting to note here I feel is not the high value, but what is shown as the low value that should represent the bulk of 575s and 599s, and which still shows the 575M Maranello below the 599 GTB Fiorano & HGTE at its lowest level with I assume equivalent mileage and condition. On the other hand what is equally important to note is that beside the pricing listed for the 575M Maranello there is an up pointing arrow indicating that the value of these cars are on their way up, while beside the 599 GTB Fiorano & HGTE there is a down pointing arrow indicating that these cars are still depreciating. Certainly this should mean that the value for average 575M Maranello’s are bound to overtake the value for 599 GTB Fiorano’s as others here have indicated. The only variable in my case is that I have a high mileage 575 (39000 miles, purchased with 30000 miles on the odometer and put 9000 miles on in 2 years) which works against me in the Ferrari market, but then I enjoy driving her so much that I don’t intend to stop just because the possibility exists to trade to a 599 sometime in the future.
Clyde

 

Daniel you're absolutely right, 30,000 miles (62,764 kms) or 61,000 kms are not a lot on a car and particularly considering their age. I believe the market may be a little different here than in Europe though, because here it seems that for Ferraris of low mileage they are more in demand, and once a Ferrari gets above 30,000 kms (or 18,000 miles) then the demand and trade in value seems to drop dramatically. I am only commenting from a sale or trade-in value and not from a perspective of whether a higher mileage car is mechanically sound or not (as often a higher mileage car may be better mechanically than a low mileage one).

Clyde

 

Frank,
I'll have to check when I get home from the office and let you know. Keep in mind please though that the values they list are not always accurate, they are just a basis of comparison. I am sure that different guides might show different values.

Clyde


Sent from my iPhone using Tapatalk

 

Frank this is very odd, they are listing the value of the 550 Maranello as being between US$55,000.00 to US$90,000.00, which considering what they listed the 575M Maranello at seems unrealistically low. I myself have seen 550 Maranello's listed for as high as 575M Maranello's here locally, though I cannot say what their final sale price was. In any case, I can't believe this is the case. Obviously it seems their rating on the 550 Maranello seems to be off for some reason.
Clyde


Sent from my iPad using Tapatalk

 

Yes Frank,
The numbers for the 550 don't make any sense to me, particularly since its a 3 pedal and any Ferrari 3 pedal is selling at a significant premium these days, particularly the last regular production V12 3 pedal that Ferrari made. Of course Ferrari offered the 3 pedal option for the 575M and 599, but by far the majority of people went for the F1 option so I am not sure you can consider them regular production V12 3 pedals, they are more like special editions at this point. No, if anything I think that the real value of the 550 may be even higher than either the 575M or the 599.
Terry seems to indicate as much in his commentary, and he usually knows what he's talking about. Perhaps Cavallino Mag only does sporadic updates and so its not a good gauge, though I feel its a good gauge with respect to the 575M and 599 here in Canada.
Clyde

 

That seems like a logical explanation, though prices on the 550 have been higher for a while I believe. Yes I read Forza as well (I have an almost complete collection since the first issue). They only seem to do a price evaluation once a year, and I usually find the prices they list as being undervalued as well, but perhaps magazines feel its better to be undervalued than overvalued? Cavallino print their Guida with every issue, so one would normally assume its more accurate with respect to the fluctuations in the marketplace, but maybe not?
There are so many experts here on FerrariChat, it might be a great idea for FerrariChat to list an ongoing price guide/evaluation on this site?
Clyde

 

That's what I've been trying to say, which means that there is a problem with the price guide. At the same time its better than having nothing, one just has to be a little circumspect when reviewing it.
Clyde

 

That explains things then Terry. As I've said I don't buy the Ferrari Market Letter, I wonder if anyone here does and might shed light on the values? Its a pity that a revered publication like Cavallino does not print a better price guide especially since they do so with each issue. Its a disservice to themselves and to their readers in that case. Actually it would be good if Forza would start to print monthly price guides and then maybe they would up their game and start to pay more attention to this as well?
Clyde

 

Brian,
I have a recommendation that might help the sales of the publication (Forza) and might force Cavallino mag to be more accurate as well. Why not have an ongoing monthly price guide in Forza mag? Considering that the market for Ferraris is volatile, it might be of interest to many readers out there. I know it would be of interest to me. At the very least I would compare it to Cavallino's Guida and form my own general opinion about the price levels based on both assessments. Just as thought. I really enjoy reading Forza magazine, and I think this would make it more relevant to its readers.
Clyde

 

Agreed
Clyde