THE PRICES JUST KEEP FALLING DOWN ON 550 AND 575 CARS

Several points:

1. US Ferraris are more expensive than ROW because, in part, they have to be federalized. To make a euro car legal, it can cost up to $20k.

2. The market here for Ferraris is stronger across the board. New Ferraris have always sold for more than US-MSRP, which is higher than the euro-MSRP.

3. Lambos have only been back in the US for a few years. Again, the market for them has not been as strong as Ferraris. Except for some very isolated cases, I have never heard of a new Lambo going for more than sticker.

4. Porsches, particularly the GT3, are one hell of a deal in large part because Porsche flooded the US market. For a while there, twin turbos were falling over 20% a year.

Bottom line? Different strokes for different folks.

Dale

 

I agree with all the above points, but I'm trying to make an objective (not subjective) analysis. And objectively no-one can say that a 6-yr old 360 Modena is a better car than a Gallardo, or that a non-FHP 575M offers anything like the same quality of handling as the Lambo. Therefore, from a purely objective, market-based point of view, I will buy the Lambo. I see no point in paying more money for an inferior product. And the F430, which is objectively the car to compare to the Gallardo, still costs at least $80K than the cheapest Gallardos. I'd rather save the money and buy a Maserati for my wife with the change!

 

I just signed a contract on a Superamerica. I am sending my consultant to look at the car on Friday and do a pre-purchase inspection. The car has 3,915 miles and the price I have agreed to pay is $235,000 (and wired a $10K deposit to the Seller's attorney). The seller says it is "clean" and the pictures look great. However, the Seller would not copy any maintenance records for me or provide any history in writing, so I am a little wary. My contract is, obviously, an "as is" sale. In The car is about 900 miles away. If this car checks out, this is, in my opinion, a spectacular price for me. I will post more information as I get it, but don't want to ID the car for everyone yet as I want to keep this to myself until it plays out.

Keeping my fingers crossed . . . . . . . . .

 

Very cool!

 

Which brings up an interesting question: Last year, based on subjective evidence from this site and limited personal objective experience, cars advertised for $170-160 were going for $150-140, or roughly 10% below asking price. Now, I'm hearing anecdotal evidence of cars selling for 20% and more below asking (I've heard of a recent car advertised at 220 going for 185, and now this SA, which should be around 290 going for 235!).

1) Is the same thing happening with Ferraris as has happened with home prices: asking prices remain high, but actual closed deals much lower than asking?

2) What does this mean for the $500K 599GTB and the $300K Spider, are they actually selling at $400K and $240K, respectively?

3) Forget what dealers list these cars at- what are modern Ferraris *really* selling for?

 

If you're going to use that logic, why not just but a Z06 Corvette?

Personally, I'd pay the premium for the ferrari, because, well, it's a Ferrari. It's not all about speed and power.

 

Dale 997 GT3's are hard to find at a good price. There is almost nothing under $120K available. GT3's are selling over MSRP and get sold as soon as they get on the market. The only ones that languish are those that are heavily optioned (MSRP = $125k+) that dealers are asking $140K for. It seems that there are more RS's on the market than straight 3's. But those are all garage queens (1000 miles or less) at $20-60K over sticker. If I were going to drive something around town, I'd rather buy a 2005 F430 with 8-10,000 miles for $200K than buy an RS for the same money. Although for the track I'd get an RS. However, why pay $200K for an RS for track purposes. There are more cost effective options.

 

Well, if that's the case there may be a 612 in my future a whole lot sooner than I anticipated. I'm not really in the market for one - I'm looking for a 550 - but I'm a sucker for a dislocation in the market. Distressed Ferraris: what a concept!

 

I have inspected 3 cars and this one will be the 4th. All of them were "listed" over 300K, and one was listed for $395K, but it was in the DuPont Registry and the ad had been there a while. On two of the trips, I sat at a computer with the seller and logged in to my Charles Schwab account to prove I had the money. All sellers then "got real." None of these cars will trade over 290K--I think they are into the $260s to $270s, but this seller has an issue (family).

The SA is a specialty car--you either love it or you think it looks clumsy. There are not a lot of secondary buyers.

On the 599s, it is the latest and greatest technology and I expect it to trade above list for a while--until the Scuderia really hits. WHen the Scud catches on, I expect 599 prices to soften.

 

That's awfully cheap for a SuperAmerica....do you mean 550 Barchetta?

Regards,
Chris

 

I have to agree with you, finding parts in 25 years may be a chore, just as finding parts in 1985 for a 25 year old Ferrari was a chore, and with today's complicated parts, it should be a lot tougher (to get an exact match)

I also wonder about people that own Ferraris but are concerned about 'loosing' value, or folks that cannot construct a readable paragraph, let alone not in all CAPS... but that's just me I guess.

 

I think if someone knows the market and knows the history of a particular car they may pay higher for peace of mind. I only say this because I sold a 95 55K mile F355 Spider for $59K about two months ago and I have received a non-refundable deposit and should close the deal soon on my 97 28K mile 550 for $89.9K. No expense was spared on either car during ownership.

In the end as someone in my office stated "Whats $5-10K difference on a six figure car for the satifaction of knowing you have the best example for a certain age and mileage car."

I bought a "cheap" Ferrari once and it ended up costing more than the best example a couple of years later.

 

Drive550PFB, I suddenly feel very poor-given that I just bought one myself! (maybe it's like buying Enron in August 2000) I will be shocked if you can get an SA for that price. Best of luck to you, though! Like anything, if you find a motivated seller and few buyers, there is no floor. One would think if people knew that the seller would be willing to go that low, there would be a much bigger market. It always puzzles me why people throw huge offer prices out there and then are willing to drop their price precipitously.

I will say though that I am loving it and you will too.

Mario

 

Why not a Z06? Simply because it is NOT a better car than a Ferrari! But the Gallardo arguably is as good as an F430, only 80K cheaper on the used market. Aesthetically, dynamically and quality-wise the Gallardo compares to the F430, the Z06 is just a blunt tool with very little refinement.

Besides, I don't know what the brand perception is like in the USA, but in Europe Lamborghini is considered on the same level of prestige as Ferrari.

 

Congratulations.
Did you have to compromise and take an off-color car? Waht color is it?

 

Very simple: Demand is higher for Ferrari's in the US than in Europe. Why? Can't be sure perhaps more buyers, more "rich" guys per captia, lots of other reasons.

In any case, buying an F car or L car is hardly a rational decision. But people do it for a myriad of reasons.

 

Saw a 550 on the road today... Dark clouds... Cold outside... A little windy... Then this black beast pulls next to me... I was in shock, they are still hot. If I every go V12 front engine one day, this car will be it.

 

If that's what you like, go for it!

At 6'2", I separate sports cars into two camps, those I fit in and those I don't. Unfortunately, the Guy-yard-do is one of those cars that I don't, while I fit just fine in a Maranello.

More importantly, though, a Maranello is exactly what I look for in a sports car for the street. As a front-engined car, it has very predictable handling. But the big thing is that motor. If romping on the go pedal in 3rd doesn't cure your blues, you're in trouble because a Maranello is a major torque slut.

Frankly, I don't care if other cars, like a Z06 or a 599, have more power. I don't drive stupid fast on the street anymore. In fact, I have never run the car flat out from 1st to 6th. It just doesn't make sense to go that fast on pubic roads.

So for me, ze Shark is all I need. For you, eh?

Dale

 

No. I own a Barchetta, all of which were built in 2001. My contract is for a 2005 Superamerica, which is basically a 575M Maranello with a motorized glass roof. By the way, I was offered $160K for my Barchetta. Prices on those are way down. Even for a mint Barchetta, the price should not be above about $210K. Most are in the high 100s.

 

It is not red, but I like the color. Since these cars are few and far between, I'd rather give details later. Last thing I need is someone reading this and making a higher offer and messing up my deal. My consultant is going to see the car Friday--and as I said before, the owner has not faxed any records.

Today the owner did say that he had some "slight damage" to the right front of the car--just a "small crimp" in the fender. I was told that this was minor and that the price reflected this (this was a complete surprise--and a warning signal).

Like I said, I am walking on egg shells right now, just hoping this thing checks out.

 

I know all about that fabulous Maranello V12... look on my profile: I've been driving one in Switzerland since 2005.

However consider that I'm moving to Chicago, not Miami! In Switzerland I've had plenty enough scary moments when 515HP (my Maranello is slightly modded...) suddenly release on the cold and wet winter tarmac and you find that you have zero grip, and the car darts sideways trying to swap ends... I think that the Gallardo's AWD will definitely help to make it a fully usable 12-months-a-year supercar, which the Maranello most definitely is not, unless you live in California, Florida or Texas.

I will always have the Maranello in my heart. If I have the spare cash I may just buy one for $80K and park it alongside the Gallardo in my future Chicago garage... dreaming on...

 

58000 euros in Italy for good 550 examples

 

anyone seeing anything interesting for sale ? been looking at the same 550 for sale for some time.

 

Exactly!! Different strokes for different folks. People buy cars for all kinds of reasons.

 

Well, Charlie Sheen's 550 is out there in the mid $90Ks. Probably a few interesting things under the seats or floormats.