Why are 599 Prices falling so Low....and so quickly ?

Friends:

I am a subscribed member,
and frequently read and post on Fchat.

I do NOT own a 599 - but I am seriously
considering taking a move in that direction.

I currently have 2 456 cars, and a nice 575.

It seems like 599 prices are
falling pretty quickly, and quite fast.

In some ( OK - a few) cases, a 599 car
is seen on eBay for less than the
cost of an excellent 575 coupe.

Why are these things happening ?

Scott

 

Manual transmission 599's aren't falling in price at all, in fact quite the opposite.

 

Same as every depreciating exotic -- old and no demand.

 

Standard depreciation for now, as more & more F12s become available and start to depreciate as well. (And remember, the F12 is even quicker than 599 GTO).

Down the road, a lot will depend on what will replace the F12; If Ferrari moves away from a traditional V12 to a turbo'd V8 or some hybrid involving a much smaller V12, then values of traditional V12s (including 599) should go up.

 

I sorta disagree. Prices have been in the 140-160 range for the past 18 mos. but I could be wrong.

 

I agree. Prices have been holding steady for a while now. The cheaper cars need work or have had some damage to them or have high miles.. A nice color combo with lower mileage is going to be around $160-180, not including the 2010 models. They are holding steady above $200k.

 

The 599 look is also very polarizing. They look good in person but not so much in pictures, thus lower demand.

 

At these prices (120-130) these cars are the deal of the century.

They will without doubt appreciate at some point.

 

I disagree, I bought my 09er 599 (almost full options, perfect condition, and I mean perfect, and perfect service history) April last year for 90k€. If I would want to sell now (I do not!), I would ask 120k€ and presumably get 110k€. Thats the European market, perhaps it is different in the States.

 

The toilet cars will always be cheap, the cherries will get top dollar... Also , what '07's are fetching does not dictate selling prices for all model years... I keep looking at what the market is on 599's and in some instances I see a bump in prices, not big but a nudge up... As the 599 model approaches 10 years , they've already depreciated more than 50%. I think they will drop a little more but not that much more and cars like the HGTE produced in very little numbers will hold their value a little better...

My $.02 worth...

Yes I'm biased... For obvious reasons

 

You are spot on. For my sake (trying to buy one) I'd like to see some prices fall a bit more and think they should. The car is worth every penny, but there are plenty up for sale and none are moving quickly..

Ahh..Sigh.. Such is life - work harder - make more money- save the appropriate amt!

 

Typically for most modern hot cars..

Years 1-2: over MSRP
Years 3-4: at MSRP
Years 4-5: sliding below MSRP
Years 6-11: well below MSRP
Years 11-13: market deciding what to make of the car
Years 14+: we see what the market decides

We're in years 5-8 depending on the model year of the 599.

I suspect at some point we will see rising 550/575 prices push up the 599GTB. I usually don't like to compare special models with the standard ones but its possible the extreme premium the 599 GTO enjoys over the GTB might eventually exert a little pull on the GTB.

 

I am not seeing 599 prices fall at the moment. in fact I have been seeing them start to move up. If you look around and also try to actually buy one in the US they range from the low $150K to $300K. Now a $150K-$185K(07-09) will have variation of miles, service, options, etc..if low is $150k you will be spending some funds to address service, tires, maybe some other small items. I have actually seen the 599 shrink over the last 2 years with less dealers having in stock and generally greater demand.

Getting from a dealer-plan on $165k-$185K w/o any warranty for earlier cars.

Remember these were $500K or more in 2007/2008 and very few production came out mid 08-09 as the financial crisis hit.

Anyhow-with F12 in the $300K range the 599 is all world

 

Why should "normal" 599 F1 models appreciate?

 

Why are the 550/575M models appreciating?

 

A lot of them made (relatively)...you should have looked at Dr. K's car, in San Antonio.
Custom order color (dark metallic silver) a bespoke interior (carbon fiber everywhere!) and around 6K miles on it (he became ill after delivery)..

A steal at $180K, IMO.

There were a lot in the market "for less" of course but IMO this was as fine as a GTO.

 

Most Ferrais if popular models, "bounce off the bottom" of the depreciation curve, like that, historically....

 

Dr. K - the same person who got the silver Speciale more recently or someone else?
The 599 had a subtle look sort of like Grigio Silverstone yet different with more blue in the color...

 

Ferrari's are know for their 12 cylinder motors and yet they really fall in value. I own a 599 and it is great and then some. What a power monster and a fast car with classic style. I plan on keeping mine since nothing new is really better.

 

550 more than 575 because of the manual transmission and less reliance on electronics. Anticipating such, I bought a 550 six years ago when I could have had an F1 575 for not much more. In the not too distant future, F1 transmissions will be regarded the same as VW's Automatic Stickshift, or Porsche's Tiptronic. Cool in their day, but everyone will wish that the car came with a stick.

 

Coming from a mid engine Ferrai I was a little worried , but after almost 2 months with the car , I ain't lookin back! I'm in total awe with this beast.... I don't see how it can get better ...

 

I do not agree - the F1 transmission is very different to the VW/Porsche Stickshift/Tiptronic, these are in essence pure marketing scams, the are just auto transmissions with fancy names.

The F1 is actually a "robotized manual transmission", real clutch and gears - and very different experience to the modern DCT of the F12/etc.

 

Agreed. DCT can be faster, but the faster seamless changes take part of the drama.

I really enjoy the F1 dramatic changes, however I agree it's not strait forward as DCT use. Drives needs to know how to use it if not changes are clumsy.


612

 

Some really good opinions here. Gonna throw another in the mix. You always here that the 599 will never be less than the 575. I get the 'why' - But there are far less 575's than 599 to choose from. I think some really great examples could fetch more than a 'normal' 07 model.

 

Absolutely. 0-60 in a 612 is dramatic. That same 0-60 in 4.4 in a lot of other cars is more like taking an elevator. Going from floored in 1st to backing off in 2nd is a bit of a symphony of sound and motion, that gorgeous v12 howling and some well coordinated throttle and paddle action makes every jump from a stop light a pleasure. I'd take that over a Huracan any day of the week. Unless I got to sell the Huracan and buy a couple more Ferrari's.

The number of 599's will drop off over time just like all the others.