Why do you guys think I'm not getting calls on my 550M for sale?? | FerrariChat

Why do you guys think I'm not getting calls on my 550M for sale??

Discussion in '456/550/575' started by shmluisfc, Jul 12, 2017.

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  1. shmluisfc

    shmluisfc Karting

    May 31, 2012
    199
    I am looking for constructive criticism on why I am not getting any calls and obviously a sale on my awesome 550M. I am not stranger to selling cars.

    I ran it on ebay a bunch of times this year, in addition to having it listed here on Fchat, as well as the Hemmings ad I listed below. Th ads are complete in description and pics are done well.

    There are no warning lights and the car is paint corrected and is presented amazingly.

    Do you think I should have the major service done, re-upholster the dash, take it to the dealer and have a second key made, get a set of floor mats, order books from ebay and raise the price? Or any combo of those things?

    I have the current price real low taking the above into consideration. Even taking the above into consideration, I feel my car/deal is very very aggressive. Especially when one factors the full OEM carbon interior and OEM carbon seats.

    I don't need the money, but I also don't drive it, so selling makes sense to me at this point.

    Or is it worth the investment to have everything corrected, and hang on to it for another 5 years. I am imagining the value will do better as well at that point...

    Any other ideas? I am a big boy. I can handle it if you think I'm doing something wrong/off. Don't sugar coat anything....

    https://www.hemmings.com/classifieds/cars-for-sale/ferrari/550-maranello/1918320.html
     
  2. Mckinney

    Mckinney Karting

    Mar 29, 2013
    199
    Possibly the interior color scheme and/or readers failing to note the full major service included in the offering price. Possibly a little softness in the market. It's a gorgeous low mile example that I would be pleased to own. Best color as well in my view.
     
  3. Dave rocks

    Dave rocks F1 World Champ
    BANNED

    Nov 23, 2012
    16,047
    Orchard Park, NY
    Full Name:
    Dave Lelonek
    The market overall is down right now...

    This is an ocupational hazard but you say "No sticky buttons anywhere!" and while that may be true, based on the photos, your parts appear to have the factory soft touch cleaned off exposing bare plastic which is not nearly the same as a proper refinish. And, your HVAC panel is bubbling.

    I love black but I don't love grey interiors - but that is subjective.

    I would also say the rear (what appears to be non-factory) quilted shelf does not look awesome..
     
  4. Cribbj

    Cribbj Formula 3

    Your last sentence in the Hemmings ad states "Please do not offer me anything less as it will be ignored." and this may be off putting some people from making an offer.

    As others have noted, the market seems a bit soft at the moment, so if you "might" be open to offers, perhaps you should delete that last sentence?
     
  5. killer58

    killer58 Formula 3

    Jun 30, 2010
    1,189
    CA & DC
    I took a look at the ad, here's my initial take:

    No offense intended but the ad sounds like a used car salesman wrote it vice a passionate owner. Examples: the car is NOT an investment opportunity. "Less desirable" Daytona seats is probably not a widely shared opinion. While I agree the gray interior is fantastic, it's not one of the more popular colors. Nor is the carbon interior to everyone's liking and therefore worth a premium (I know that's going to generate a ton of hate mail).

    The CARFAX indicates a number of repairs that are not addressed in the ad, that alone would give me pause. It is not clear that a "handful" of records constitute a well documented history. The dash repair needed is not evident in the photos.

    The aftermarket mods (without the original parts) are neutral and don't necessarily increase the value. Other than the toolkit pictured, there is no mention of remotes, manuals, covers, missing keys, or any other ancillary items.

    Finally, I don't follow the 550 market too closely, but for a car "with needs", your list price seems high. Even though it's a three pedal. Without knowing you or the car, I could see how some will look at your short term ownership and assume you're either flipping it, or trying to avoid the cost of ownership.

    Now, to end on a positive note, I think your car looks fantastic. I like the color combo. If I was in the market for a 550, I'd be asking you for a ton of info, records, photos, etc.

    Hope this is helpful. GLWS
     
  6. Bas

    Bas Four Time F1 World Champ

    Mar 24, 2008
    41,301
    ESP
    Full Name:
    Bas
    Not sure how the US market is but EU market very slow.
     
  7. 166&456

    166&456 Formula 3

    Jul 13, 2010
    1,723
    Amsterdam
    Killer points :). I cannot add much more but here's a try:
    The amount of text and the overuse of words like fantastic.
    Don't mention every bit of carbon on the car, just mention things like rarity, sticker price, look and feel.
    No resale red anywhere on the car even though I like the color combo, in the years of owning an Alfa Romeo in the same scheme I noticed it's not for everyone.
    Be a little more inviting.

    Good luck on the sale, I do see cars sell.
     
  8. henryr

    henryr Two Time F1 World Champ
    Silver Subscribed

    Nov 10, 2003
    21,653
    Atlanta
    Full Name:
    Juan Sánchez Villa-L
    as a perennial shopper and from what my high-line buddies tell me... if it ain't the new must have and is over a hundy.... the market is slow

    i'll couple that with i was never believer in the 550 market explosion in pricing outside of some mint, low mile, high option cars all i see is high asking prices...... no transactions.
     
  9. 166&456

    166&456 Formula 3

    Jul 13, 2010
    1,723
    Amsterdam
    Juan, funny that is my feeling too. There are two extreme categories that imho always do well: the low-price projects that are fun and rewarding to tinker with and the super-high value time capsules. In between depends on what's in vogue at the time. This age-category of cars is a little harder as not really vintage and not modern anymore either.

    And yes over 100k there is a lot of choice. A friend is selling a 2003 Murcielago for about 150k€.
     
  10. uberlink

    uberlink Formula Junior

    Apr 23, 2012
    777
    Twin Cities, MN
    Full Name:
    Mark Johnson
    Consider this instead. Just food for thought (and note the price suggestion....I'm no expert, but $132k seems a bit strong if you really want to move it).


    Nero Daytona/Grigio 1999 Ferrari 550 Maranello with 14,100 miles on it. Clean title and Carfax.

    The body, paint, and glass are excellent with no evidence of a respray. I recently did a full paint correction detailing. It is waxed, sealed, and needs nothing.

    The interior is in very good condition overall. It is optioned with the rare OEM carbon fiber interior and OEM carbon sport bucket seats, which are very tasteful. It also has the leather quilted rear shelf, color matched steering wheel/dashboard/pillars/roof. The seats and quilted leather rear shelf are Grigio Scuro 4302 Dark Grey. The dash, pillars, roof, and steering wheel are Charcoal 4304 Very Dark Grey. The only imperfections in the interior are the dash and some buttons that could use attention. It looks very good overall, but the could use recovering in the coming years, and the buttons could be refinished. The car also has an aftermarket radio head unit and an amplifier behind the driver seat. The original radio is not available. The system was well installed and the sound is an upgrade over OEM.

    The wheels have no curb rash or other damage. The tires are Bridgestone with 80% tread-life remaining.

    The car is mechanically sound and well maintained. It handles, accelerates, and brakes exactly as a low-mileage example should. The only after-market mechanicals are a Tubi exhaust (cost around $4000), which sounds very good and is not overly loud. I do not have the original exhaust.

    A major service was performed in 2012 with minimal miles and regular service since. I have service records going back about eight years, but I cannot verify that they are 100% complete. I will have a fresh major performed by a reputable mechanic upon sale (or negotiate an appropriate discount, and the buyer can arrange the work).

    This is a rare and appreciating classing. It is well priced at $119,000.

    Please find a link to the Carfax report here:
     
  11. Themaven

    Themaven F1 Rookie

    Nov 2, 2014
    4,252
    Eastdown
    Full Name:
    Darius
    The car looks very nice though as others have pointed out maybe not as original as it should be for the price.

    The description is much too long. It gets counter-effective at such length. People read ads quickly and make their minds up quickly - you need clear takeaways, this many miles, never repainted, all original, or whatever. I read the text and couldn't summarise the car, too much information.

    Given that originality is valued right now, maybe sum up the non original parts on a single sentence. I think I remember gold calipers that became red but which might become gold again, but who would do that and how well and once I'm trying to work that out I lose patience.

    You are plainly an honest seller and a straight shooter, but TMI is not always in your favour.

    Also, I guess the vast majority of people like to feel like they are winning a bit, getting a deal. You tell them not to even bother if their bid is a penny below the price you offer, and that will only work if your price is exceptional.

    Beautiful car and I am sure it will sell.
     
  12. Patek

    Patek Formula 3

    Mar 24, 2006
    1,904
    Georgia
    Full Name:
    John Milton Denton
    The market is slow. I just traded mine in back in Nov. 2016 for a 2012 458. And , prices were dropping every week.

    I had almost 50,000 miles. But just did all the sticky parts, new Motor mounts, New ECU's, New Steering rack, A/C, completed $12,000 major, and before that did all new Brakes, Rotors, new tires. But my dash was shrinking, and the hood had road rash, and the steering wheel cover was starting to Bubble as was the dash on the other side of the car.
    But I had all 3 remotes-keys, manuals, cover.

    But I would just say most of the speculation money is out of the game at this time. Your car looks great.

    Hope it moves out pretty soon.
     
  13. ttforcefed

    ttforcefed F1 World Champ
    Rossa Subscribed

    Aug 22, 2002
    18,772
    why not try bring a trailer and see what happens?
     
  14. tres55

    tres55 F1 Rookie
    Rossa Subscribed

    Sep 18, 2012
    3,481
    Canada
    I think the market in general is slow. The last 550 that crossed BaT I think was in the high 90s?
     
  15. JohnnyRay

    JohnnyRay F1 Rookie
    Silver Subscribed

    Nov 2, 2014
    2,866
    Central FL/NW WI
    BaT will not deliver the kind of results the OP is looking for. I might suggest either having a basic belt replacement done, so you can state fresh belt service, or simply lower the price to allow the next owner to have service done at the level they desire. Also, non-original or missing items do diminish value. As some others stated, this is an "in between" car. It will be a great deal with the mileage and features...and probably move in the hundred and teens range...
     
  16. darth550

    darth550 Six Time F1 World Champ
    Lifetime Rossa

    Jul 14, 2003
    60,788
    In front of you
    Full Name:
    BCHC
    As others have mentioned above, your ad is too pitchy. You mentioned "Not another one with CF available ANYWHERE" and there's another one suggested in Hemmings, where yours is advertised. :eek:

    It's pretty much the same as the last one I had (CF with CF and the seats). I liked mine but found the CF to creak a lot and the slot in the console was worthless since everything either slid all around and/or made noise, not to mention my phone flew out of it a lot! LOL.
     
  17. alexkam

    alexkam Formula 3

    Mar 14, 2007
    1,116
    Sunny CA
    Full Name:
    Alex
    Awesome car! Love the 550s and All the best with your sale. I agree as many have said the market is quite slow. Plus I feel there are so many options for buyers these days, some of these newer performance cars are amazing at or well below 100k. I feel we're in a price correction on many older cars.. just my opinion. It may take years for prices to get back up on the rise so unload at what a buyer is willing to pay or hold onto it and enjoy if you can.
     
  18. marce

    marce Formula Junior

    Jan 30, 2014
    432
    Australia
    Full Name:
    Marcel
    my opinion is that with advertising wording, ferrari purchasers would be slightly(maybe not in my case) sophisticated and be able to easily seperate the facts from the sellers opinions regarding upgrades, investment value ect.

    most likely it would be a demand supply issue.
     
  19. craterface

    craterface Formula Junior

    Apr 14, 2011
    620
    Sanibel Island, FL
    Agree with all points.

    Will add:
    Tan interiors sell much more quickly with black cars.

    Hemmings is not the best venue to sell a car. I have never had any luck with Hemmings ads.

    I think you could get 110-120k on BringaTrailer. The advantage is that the car will be sold quickly. How long do you want to wait? The car will sell for market value. They will give you a reserve.

    Every buyer wants "a deal" (often to justify their purchase of something they don't need), and to say in your ad that you won't negotiate puts people off.
     
  20. Vereeken

    Vereeken Formula Junior

    May 16, 2014
    264
    Belgium
    The problem is the 132 combined with (minor) defects.

    So a) you make it perfect and ask 132 negotiable or
    b) you ask 110 negotiable

    Unless you are a wheeler dealer nobody in his right mind believed that these where 150k cars all day long. Sure some might have sold strong money but in genereal....not
     
  21. YorkieV12

    YorkieV12 Karting

    May 23, 2014
    132
    Quite a few cars for sale seem to have the dreaded shrinkage and/or bubbling of the dashboard and airbag cover. Quite unsightly on an expensive car......What is the cost to fix ? Any serious buyer will pick faults........so you either fix them or negociate a deal ''as is''. Take it or leave it will not do when there are more cars than buyers. !
     
  22. fatbillybob

    fatbillybob Two Time F1 World Champ
    Consultant Owner

    Aug 10, 2002
    26,295
    socal
    not resale Red?

    Actually, I think the price is not the issue. Timing is. I remember when I was selling a house once and nobody wanted it for 6 months. I took it off the market and put it back on the market next year with no improvements and same realtor. A guy came by in the 1st week bought the house and wanted a fast 30 day escrow! Nothing is worse than a stale "for sale." I say take it off the market and put it back up for sale periodically. There is a guy who wants your car and loves that interior color/trim and sport seats. When it happens it will do so quickly. I would vary the price as you improve, maintain, and wear out the car. A car gets more when the major is done. A car gets less when the miles go up.
     
  23. nickmb

    nickmb Karting

    Dec 11, 2013
    222
    Austin,TX/SoCal
    Full Name:
    Nico
    I wish I could like this comment.

    Spot on
     
  24. Jon Von Bon

    Jon Von Bon Formula 3
    BANNED

    Feb 8, 2015
    1,697
    Toronto / Florida
    Full Name:
    Jeff
    Many (smart) Guys are dumping their cars to be in the currency or equity markets right now.

    Used Ferraris are not easy to sell in any market.

    As others have stated, timing is everything and probably has the biggest impact.

    Sometimes even "giving them away" is hard to do.
     
  25. Shark01

    Shark01 F1 Veteran

    Jun 25, 2005
    5,687
    For me, exterior color. Black paint on a car with a beautiful design just washes out all the great design elements.

    But with enough of a discount, maybe I buy it and wrap it...
     

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