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

It will be interesting to see what this sells for
https://carhuna.com/auctions/vehicle/2008-ferrari-575-superamerica-manual-93dk132?utm_source=Email&utm_medium=Newsletter

 

Do the conversion! Not only will you love the driving experience, but you are basically going to increase the value of the car by whatever you spend to do it or more. Its a no-brainer IMHO.

 

It's a 599, but an interesting data point.

The dealer paid $156,000 for the car.

https://bringatrailer.com/listing/2007-ferrari-599-gtb-fiorano-39/

He spent $77,000 on EAG conversion.

And the car was bid to $193,000

https://bringatrailer.com/listing/2007-ferrari-599-gtb-fiorano-51/

I need to take my shoes off so I can count on my toes, but it looks like the dealer didn't do so well.


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Thank you for sharing that (not joking)

 

Whats the x factor for it now being located in Canada too? That probably didn't help any either, despite being an original US car.

But likely also amplifies the transport and import costs involved to the seller too

 

Over the holiday I’ll try and put a few quick snapshots up of a grouping of recent results.

what looks like an amazing R/C investor grade car today on BaT hammered at $296. Hoping @trnco checks in with us.

: ZFFZS49A1Y0119838

https://bringatrailer.com/listing/2000-ferrari-550-maranello-38/#comments-anchor

 

looks like the allure of a modified gated car is losing steam

for the life of me, i cannot understand why i conversion should cost $30k plus..... for a 575, we are talking about shift linkage, pedal box and software.

notice the blue failed to sell on pcar as well

 

That is some markup on parts….

 

It shouldn’t

 

Looks to me like the conversion amount is $61,137.03, or am I missing something?

Still bonkers. I think I know the answer, but for the sake of fairness, is there something drastically different about converting a 599?

 

At least 2 of our Maranello brothers own a Maranello and a converted 599.

One from EAG one from deGroot.

@Condor Man i wasn’t counting you in that…do you also have a converted 599 (or maybe one in process)?

 

Yup, a bit over $60K for the conversion, which sounds atrociously high, and the rest is for other stuff.

 

Wonder if that is $60k Canadian so $45-ish USD?

 

Even higher in the UK for this conversion https://carhuna.com/auctions/vehicle/2008-ferrari-575-superamerica-manual-93dk132?utm_source=Email&utm_medium=Newsletter

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Sounds like BS to me or an enormous avoidable cost to have something very minor/unnoticeable missing from the car (for the 575 at the very least).

Simply have passive suspension and the ancient ECU reprogrammed. If they've done one ECU reprogramming it's plug and play for every single one following since they already have the software.

The shift tower is identical to a 550, not exactly hard to replicate today with 3d scanners and CNC machines widely available. Clutch pedal, easy.

Sure, a 100% factory conversion I imagine is extremely time intensive and costly but one that's 99.5% undetectable when driving for a fraction of the cost? Yeah...

ECU's can go bad. Is DK telling us a 575 could essentially be a write off or face a multi-year repair if one fries the ECU (corrosion, water damage, voltage spike whatever...)? If that's the case anyone spending any money on a post 80s Italian car needs their head checked.

 

Hi all… I just bought the 4800-mile Red 2000 550 on BaT. No questions right now, just plugging in. I’m in FL… at least until June… always looking for local contacts/referrals. Cheers fellas…

 

Congrats Tom! I'm in the Harris Chain of Lakes area...

 

Excited you are here! As you get the car and put on some miles we will love to hear more!
Enjoy in good health!

oh and Tom, in the spirit of sharing, I’ve posted this several times as one of my fav’s of my 550

 

Re: conversions.

With regard to conversion costs:

• 550's are $200K+ (good ones are now moving toward $250K and the greats are over $300K)
• Factory gated 575s are generally $300K+ depending on spec, mileage, condition
• F1 575s struggle to break $130K

There are nuances like interior/gauges, front bumper, and cable throttle that may drive preference toward a 550 vs 575 for some people, but the reality is 99.9% of the preference is because of the gated manual. So theoretically, in order to remain in the "it came this way from the factory" category, you'll have to spend a minimum of $70K more than a top tier F1 575 and most likely $100K-150K to attempt to find a 550 of similar condition to that 575. Or $170K+ for a factory gated 575.

There is a segment of us who want a manual, would only consider Ferrari parts, and are open to the concept of converting given the result that can be achieved is literal OEM facsimile of how the car would have been delivered by the factory. And it can be done through existing accommodation the factory built into F1 cars with no modification (pre-cut blueprint for the turret in the transmission tunnel, firewall cutout for clutch master cylinder, pedal box built to accept the clutch, reverse switch built into the OEM wiring harness, factory software can be written onto your ECUs, amongst other things... unlike a Daytona Spider, for example). The F1 chassis and gearbox essentially start as a manual and are fitted with F1 components.

The problem is sourcing the scarce factory parts. If you can manage to do that, then your F1 575 can become the exact car that would have rolled out of the factory in 2002-2005 had it not been ordered as F1. Your result is 100% Ferrari as designed, 100% equal in performance and experience to the $300-400K factory gated 575M. And an OEM gated 575 is a wonderful, desirable car - in many ways superior to a 550. So, DK may not be THAT far off given the scarcity of factory parts and the value an OEM package would have to some enthusiastic Ferraristi who have the money to do an OEM conversion, understand the factory-ness of the final product, and perhaps don't see the value in adding substantial incremental cost to that concept to buy an original manual.

So you have the guys who want to do it "right" and see the value proposition of a true OEM conversion vs a factory manual (whether it's a 550 where you will either compromise condition, money, performance, a combination of the three or a 575 where you have to compromise a lot more money).On the other hand, my sense is that the market is losing interest in non-OEM conversions. EAG is listing cars consistently (and lowering their prices), there are owners who are selling immediately after having their cars converted, and there have been a number of BaT sales that aren't even breaking even on the $35-45K conversion cost.

The idea of not having Ferrari parts in what is now possibly the most important experience a Ferrari can offer (that gated life!) just isn't working for a lot of people. Turrets seem simple enough, but they aren't easy to build and will not deliver the identical Ferrari experience. Are we going to start putting engines from the new Z06 in our cars? Unlikely. And I actually consider that a similar parallel to non-OEM conversions.

And as it relates to 599s, there are a number of additional challenges. So much so that EAG abandoned solid linkages after year(s) of development and ended up fabricating a cable linkage design (I and @Condor Man can confirm that a correctly done solid linkage 599 has zero vibration or shifting issues). Superficially, gated 599s also have different lower and upper consoles compared to F1 cars, which adds substantial costs if you are doing OEM; EAG does not replace the lower console with the OEM spec panels and instead has designed a totally different upper console design that fits into the OEM lower.

At the end of the day, the value proposition is around the final product and how it stacks in the marketplace. Given the Maranello hierarchy, other gated sports/supercar prices from the '90s and '00s, and insane new car pricing, to have a magnificent OEM 575M conversion feels like a serious value proposition at $200K-$250K. And on the other hand, many have no interest a non-OEM conversion at any price.

 

I absolutely LOVE this picture!

 

Is it even possible to source all of the OEM parts for a conversion anymore? I was under the impression that it was already nearly impossible.

 

For RHD, it's no longer possible to source all the parts.

 

It’s tough, but not impossible. I think it will certainly become more and more difficult as the 550s, etc become more valuable, ergo less likely to be driven regularly and potentially wrecked. It’s certainly possible, but look out for gouging.

 

I planted a bunch of seeds looking for parts when I first started digging into conversions and I've been offered some parts at eye-watering prices here and there. But then again, like I said, the spread between an F1 575 and a great 550 or factory gated 575 provides a lot of runway to put together a conversion package.

 

imho, the pricing on 550's os just nuts. $300k ? they are not that rare

i'm just too old