Last US 575M, HGTC 141817, Available

Skippr- Sounds like you do not know too much about 575Ms, so how about a little education? First off options: HGTC was only available here for 2005 MY and cost $30K when new and uses the same brakes as the 599 CCMs, plus unique shocks, F1 and shock software, front upper A arms, front underbody, brake cooling ducts, springs and rear anti-roll bar, Motronic DMEs and matched F1 TCU (612 TCU software essentially), and unique exhaust with double tailpipes. Carbon fiber ~$9K, Daytonas and rear shelf, rear glove box, shields, out of range paint, and I am sure I missed a few. Plus as one of the last two built, she has all the updates that were applied through 575M production, list attached so you can see all of those. So she is kind of special and in no way comparable to the FoNE 575M you mention, not even close.

Also, 550s do not really need FHP and all the 550s have a stick, which I assume you already knew. You will not find one with factory ceramic brakes, either.

 

Thanks Terry. I wasn’t aware of how involved the HGTC package was.

 

Terry you don’t need a pat on the back, but you are awesome. So many great value add posts - the education is always so greatly appreciated.

 

Sorry I sounded a bit abrasive.

 

No worries. I was just debating and trying to ascertain what the value should be. I’ve been interested in the 550/575 for about ten years and am now at the age (53) to get a gentleman’s Ferrari to add to the stable. I Appreciate the knowledge you offer here. I try to do the same where I can add value.

 

I don't see why this isn't worth $200K+ today and $175K in a less fervent market (catastrophic scenario, however, all bets are off). This particular car seems really inelastic to me.

• Exceedingly rare and desirable spec
• Top condition and history
• Can't find an alternative
• We've established that HGTC is a highly impactful, and dare I say transformative addition to a 575 that is absolutely a value add
• There are what, 100 HGTCs out there? 30 in the US? HGTC owners less likely sell than non HGTC? How many are comparable to this one?
• Need to step up to a Superamerica to have readily accessible HGTC 575s for $100K more (and lots of guys aren't big SA fans)
• You could look for 550s, but my opinion is that this car is more desirable than those that are currently on the market

My perspective is that this all supports a really high likelihood that this car will retain substantial value at ask; there is not enough potential downside to outweigh the opportunity to buy this know that it or an equal replacement could take another 10 years to show up.

If the absolute bottom of the barrel 575 is $90K ( which I'm not sure is the case at the moment) - excluding cars with big maintenance and cosmetic needs (say $30K+), have branded titles/history/stories, 100K miles, etc - seems reasonable for this to be at least 2-2.5X. But I actually think you're paying $110K for a basic driver-level 575 that has no needs and is ready to go and up to $140K for one of @Ferrari55whoa Alicorns, which puts the CdF car at a 1.4-1.8 multiple. At the end of the day, I think that falls into the "it's not enough difference to try to triangulate the exact value and split hairs" given the externalities that influence desirability and demand for a car like this and the demographic of likely buyers.

We'll know soon enough how it's priced, but my guess is it sells quickly.

 

You could also deconstruct the value of the components at market value.

Start at $200K:
- $15K modular wheels
- $20K (?) CCM
-$10K suspension
-$10K (?) carbon

That puts you at $145K for the second to last 575 in CdF with two owners, low miles, and records.

 

When I bought my HGTC in April this year that’s the approach I took for “valuing” it. I figured brakes, plus wheels, and suspension is about $35-40k of value and ultimately things I would want on my 575 even if I went a non OEM route for brakes and suspension.

I personally wouldn’t pay a premium for just saying it’s HGTC and 1 of however many left the factory like that, but clearly that’s not how the market works for collector cars and someone will definitely ascribe value to that rarity.

While we haven’t seen a $200k F1 575 in a long time, in this market it seems like a reasonable opening ask. It’s still 20% off of a 2005 MSRP so that’s not bad. If you are a mega wealthy collector building a modern front engine V12 collection, the 575 HGTC would surely fit along side the 812C, F12 TDF, and 599 GTO in your garage and this is chump change for that guy.

 

Also there are two ways to make “Dark Grey” not boring.

1) Name it Canna Di Fucile
2) Make it look like that!!

Such a beautiful color and I’d rank it at top of my list along for Grigio Ingrid for favorite Maranello colors.

 

One currently for sale i the UK, but LHD.

Just for comparison. This has been for sale for a while.

https://www.pistonheads.com/buy/listing/12542189

 

Alan- That is a very nice HGTC, too. Unfortunately languishing in LHD perdition. $185K would be an easy sell here, most likely. Could be imported to the US in 2030, which likely does not cheer up the dealer.

 

That 25 year rule sure does create a different market in the USA when you can't increase numbers by importing.

 

I verified in previous posts that it is listed at $215k. It wasn't apparent to me in your post if that was known. Sorry if I misinterpreted

 

Yes, understood on ask... I made an assumption that $200K buys it.

 

I deduced that based on your math however I didn't want to "assume"

 

Terry, if/when you have a moment would you mind reaching out? ... I have a couple questions that I know you can answer PM and/or email is [email protected] Thanks a bunch!

 

Well... https://www.copleywest.com/showroom/2005-ferrari-575m-f1-maranello-gtc-for-sale/

I just happened to check this AM, unsure when it actually sold. Nonetheless, as expected!

@Ferrari55whoa

 

@Qksilver That car was no doubt sex on wheels.

I also readily admit, you, @root and many others have noted the coming higher values. It really does blow my mind. Part of it is for me....is.... It is hard for me to conceptualize the level of wealth a big group of guys have where $200k for a car is pocket change. I'm really just a semi-normal guy that has worked hard and saved some money and am fortunate to have a small car collection but even spending say $150 on a car....at least to me....just seems amazing....none of the guys I grew up with or my family in Iowa know about my Ferrari.

I'm fortunate and not a "typical ferrari guy" for sure from the "wealth" perspective.

p.s. whomever bought it.....it would be amazing to have the first and last US 550 and the first and last 575. Again....big boy money.

 

Sold last Friday locally in SoCal.

 

Maybe we will get lucky and the new owner will check in!

 

So it turns out this car never actually sold. Does anyone what the real story is?

 

That’s weird….inquiring minds want to know! That car is #deadsexy

 

Yup, but you should ask the dealer.

 

I don’t want to start any of the bad stuff but dealers don’t always tell the real or the full story. I understand. It’s a sellers market, buyers are a dime a dozen, and their job is sales not underwriting.

Im sure there are many in my camp. I have extreme interest in the vehicle, I don’t think it’s worth the asking price or close to it, but in this market nothing surprises me anymore.

If anyone knows the real story it would be interesting.

 

From a collectors perspective why wouldn’t this be the single most valuable US F1 575?….or one of the most valuable?