Market Prices 575 Manual vs 575 F1 (conversion costs) vs 550?

@Ferrari55whoa
Given the funkiness of this car, I thought $120k was more than a reasonable price for it. Usually euro cars have a 15% discount over NA market cars (in NA), so right off the bat, you are at close to $140k (with BaT vig), which seems a great seller price for a high mileage driver 550. I absolutely loved the color combo.

Maybe it is just me, but I am starting to sense that the market is softening ever so slightly on BaT. Seems like there have been a lot of RNMs over the last couple of weeks.

 

Having watched BaT as a hobby for a number of years, odd as it may seem, spring isn't the best buying season. Can't say why. Maybe guys are distracted by other stuff when the weather turns but lets see what is going on in June.....

 

I have noticed a definite uptick in this trend. I had a RNM recently on a Mercedes. Also it seems BaT has branched out to more lesser cars and definately high mileage stuff (Beyond BMW). I see more weord and wonderful vehicles i would have expected on Cars and Bids, while BaT had tol recently kept a more element of refinement on their auctions

 

It's easy for us in the peanut gallery to say what a seller should have done, however it isn't our car or our money so who are we really other than peanuts with no skin in the game. I for one wouldn't have let that car go for 121k when every other driver mileage 550 is in the 160-170k range on BAT as of late. The color adds a hell of a premium over those US cars that are selling for 160-170k in my opinion. As noted by Taz, the "federalization" root speaks of is non existent on cars over 25 years old in every state other than California with its ARB annoyance. Personally, I'd also rather not have my Ferrari messed with by some goof attempting to appease US dot laws and putting those ugly reflectors in the sides of my bumpers. Also would have liked this car to have the factory exhaust but thats just a part that could be retrofitted.

No, this doesn't show us what the bottom of the market is, this shows us what bids got to on one car over a 7 day stretch. The car never sold, there was no transaction that took place, meaning theres no market data point at all. Unless you care about deals that never get done which I've never heard of being reported. I have had a lot of lowball offers on my cars over the years but I don't consider them to be the bottom of the current market, I consider them throw away dreamer offers that will never buy a car.

I can't speak to the labor but I'm sure it was divided over all the work done equally, probably the shop didn't care to be exact. Also I supplied Hill engineering pulleys to my shop, I wouldn't put the OEM in over Hill, probably what happened here too.

 

Just a lock and swap is labor not too expensive. It is all the other stuff, aux belts, oil and filters, transaxle fluid, brake fluid and bleed, F1 fluid and bleed, power steering fluid, refrigerant, coolant, etc that runs up the price on most 5 year services.

 

@SteveVT I never knew ugly side markers and holes in bumpers were worth so much

@dannyg well said

 

The comments are already fun.. seller doesnt seem that patient with the peanut gallery... rightfully so, but still a fact of life on BaT

 

Confirmed sale of a converted 575 on the East Coast for $205k. The sale apparently included a parts cache. More info to follow!

 

?


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Presentation is very important on BaT. I feel the presentation is better this time around. IIRC in the previous auction he didn't add a driving video until the final hours of the auction and didn't include detail pictures of the exterior even though his pictures were high resolution large format. Still adding detail pictures is expected. Lack of driving video generated a few moans from the usually demanding Ferrari peanut gallery. Haven't gone over the comments so far, but noticed lack of paint meter pictures. Realizing they may not be as meaningful for Ferraris of that period but still the bidders and commenters expect them and therefore should be provided. Hopefully he will add them soon.

 

This was private and unadvertised transaction between two collectors.


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Like the parts that were removed during the conversion? Does that really add anything?

 

Eric- that sounds fantastic! Look forward to hearing more about the race!

 

Talent Resevoir leak is a pretty harsh assessment. Was that the primary cause??

 

the simsimma car failed to meet reserve at 135k. don't blame the guy for not cutting it loose, the car is a desirable color with a unique and attractive interior color, I wouldn't have sold it for a penny less than an American delivered car, most of which are horribly spec'd with tacky diamond stitching everywhere.

 

Why do Imports seem to draw a lower figure?

Simply California effect or the possible wonky papertrail?

At what point does that trend reverse or is it not an apples to apples comparison to grey market cars from the 80s

 

According to my unscientific observational opinion Ferrari buyers, especially first time buyers, are a strange lot. Had this car been a Euro Porsche or BMW people would probably be bidding it over a similar condition US market model. But Ferraris in general seem to attract more nitpicky first time buyers.

 

I don’t have any hard data on this (if others do, pls share), but I have heard many times over the years that California is one of the biggest exotic/classic car markets in the US. Eliminate a car from being able to be easily registered in California and the demand naturally declines… prices follow suit.

The opposite is also true: my 412 (gray market model never officially imported into the US) certainly carried a premium when I purchased it 9 years ago - it was one of the few eligible to be registered in CA with CA plates (following a quite expensive and convoluted process done when new in 1986 that allows the big V12 to pass smog).