599 rising in value?

I too have observed this trend and it makes sense given how much 550 and 575 have risen in the past couple of years.
Interestingly, out here in North America 599s are actually still depreciating and have started going below $150K for early high mileage cars and around $200K for late model HGTE cars.
In contrast 599s depreciated a lot faster and further in the EU and after hitting around 100K for higher milleage HGTE cars are now on their way up. At least the ask is. I have noticed that not many cars have sold in the past six months at these elevated prices.

 

Not here in America.

 

That's surprising because auction results at Paris were softer than Amelia, Scottsdale, and Pebble. Comparable F40's sold for 27% less in Paris than in Scottsdale just a couple weeks prior. Then recently a near-perfect condition 24k mile 2010 non-HGTE 599 took almost 6 months to sell at something around $155k USD—I drove it and seriously considered it.

 

Would it make sense that EU would be softer than North America on all exotic vehicles with their economy hitting a lot of bumbs in the road? Not that the US economy is strong but much better than EU.

 

Hmmm again its all so varied

Out here you can pick up this Ferrari 599 ( Red / 2009 ) For Sale @ www.QatarSale.com

Which is an asking price of GBP 65,000- or approx. US$ 93,000-

That's asking prices. In reality 10 - 15% discount on this can usually be achieved

 

interest rates are negative in europe so rather than paying the bank to keep you money "safe" some people will opt to own hard assets, actually bidding prices higher. the world is a very messed up place right now. who knows.

 

Bernhard

Although i bought my 599 last august, i observe the market at the 2 known german/european internet sites regularly 2-3 times per week.
Everytime i check the offers, i'm confirmed in my 599.
Right color outside and inside, right options, right condition AND right price.

Perhaps 9 months earlier, i would have got a better price like you have got, but that's life and when i see what they want to get now, i can be happy.

Since last summer minimum + 20.000 € in the average.

Daniel

 

When the Europeans start bidding up tulip bulbs, lookout!

 

exactly!

 

Everything Ferrari related seems to have bottomed out and is heading up
Seems like a crazy market can't make heads or tails of it

 

In the USA, as I see it, prices are still going down on the 599. I've been watching them closely for the last year and they've seemed to slip about $10K in the last year. Cars that were in the mid $150's last year are in the mid $140's now. Notice, I've been only watching the lower priced cars since that was my price range. Don't know anything about the late year or extremely low mileage ones. Totally my observation and nothing scientific.

 

In the uk they are up +£20k since last year.

 

US prices seem to be up $20-30K.

 

If it's true prices are up , why hasn't anyone jumped on my HGTE at $190k ? Dealer asking prices are anywhere from $205k to $250k for HGTE... I don't believe prices are up, I think it depends where you are in the world...

 

As a statistic your price range is correct.

 

Valid question. I think the case for Canadian cars is unique. Two factors are at play - demand and forex.

The combination of small domestic demand and tempered US demand due to real and/or perceived trepidation related to non-US residing cars (dot conversions, paperwork/legality issues, borders, horror stories, etc) gives you small pond to play in as a seller of a $200K "used" car in Canada.

To further exacerbate the situation, your biggest potential demand - US buyers - have had the USD weaken against CAD considerably and consistently since January, making the proposition even less enticing. I know your ask has been in USD, but there's probably a psychological impact to consideration regardless.

That said, despite relatively low volume/illiquid markets for used (but still expensive) 6 year old Ferraris, I think there will be efficiency and you're price is dangerously close to being a great deal. I'm sure you have some interested lurkers waiting on the sidelines. I was actually thinking that after noticing your price drop the other day, well before this thread had even been started. If you're really motivated, I'd think about doing the heavy lifting yourself - convert to US spec, get it into the US, and consign at a top US dealer. That would eliminate your main barriers;I think a red HGTE of that caliber, mileage, and condition would sell under $190K. It's a beauty.

-Joe

 

I'll add that I think the top end of the 599 market (2010-11, HGTE and/or super low miles) has moved the least. The the bottom end (2007, miles, 3rd rate dealer, modifications) has moved up slightly more, but not dramatically, and that the middle (2008, 6-15k miles, excellent condition) has moved up very materially. I'd give those three segments weights of 5/10/85, respectively.