I'm in the FBB camp. Do what you can and learn about it before hand, but in reality you are going to do a major service anyhow in the semi near future, and if the next guy will want records, just be the one to give them. If it comes with recent service history, Even better. My car came with very little, and even after a clean PPI (from afar). After purchase, I was able to sleuth out 15 years of records and 3 previous owners, who genrerously provided me with what I believe is mostly complete history back to 2010, and over 50k I'm reciepts. Some of which I have had to do over, and other things that have needed to be attended to for likely the first time.
Branded title -- flood From the posting: Vehicle Original VIN : 25264 18k Mile 1999 Ferrari 550 Maranello Gated 6-Speed This 1999 Ferrari 550 Maranello is an 18k mile example wearing a gorgeous color combination of Grigio Titanio with burgundy leather interior. A highly sought-after and increasingly collectible gated 6-Speed front engined V12 Ferrari. The car runs and drives great and shows very nicely throughout. It has a rebuilt salvage title and the Carfax shows flood damage reported. Offered with its owners manual, jack, and spare. The tool kit is missing. An excellent opportunity to own a 550M at an absolute bargain price. With the introduction of the 550 Maranello in 1997, Ferrari returned to its tradition of building front-engined V12 sports cars, resurrecting a line that had remained dormant since the demise of the Daytona in 1974. Styled by Pininfarina and powered by a 5.5-liter V12 developing 485bhp at 7,000rpm. This particular example is a well-optioned car in a stunning color combination. An ideal modern classic Ferrari with its front engine V12 and 6-speed gated manual gearbox. 18k miles from new 6-Speed manual gearbox Gorgeous color combination Grigio Titanio with burgundy leather Salvage title / bargain price Modern classic front engine V12 Ferrari Price: $129,500 Image Unavailable, Please Login
Flood cars scare me. Fresh or salt? It’s not like the electrical systems are all that reliable/robust in the first place, now add mass corrosion and flooded ECUs…
I vaguely recall that specific seller being called by several online as "interesting sellers"......that's the polite version. Hadn't thought about the SN....my intent was just to get it on here so we could track it by vin in the future but perhaps they put it in there incorrectly.... 8-(
Lots of BS (IMO) in the silver 575 OEM conversion auction that ended today. If I were the seller, I’d have pulled it.
Query: It wasn't that long ago when people where saying there were no Maranellos for sale. Today, now that prices are up, there is at least one running on BaT at any given time. This is why they will not be million dollar cars anytime soon. There is plenty of supply when prices go up.
Okay so why are 488 pistas and 458 speciales going for over 500k each ? There’s over 7,500 of those cars made? The 550’s have tons of room for growth. There’s no doubt it can be a million
458s and 488s are too new, plus the pistas and speciales were speciality cars. To give an example, Stradales started out at $205k or so. They fell to maybe $140k and are now $300k cars. But it will be a long time before they are million dollar cars in today's dollars. The oldest Maranello is 26 years old. The newest one is 18 years old. They have gone from being fully depreciated to rebounding back to MSRP+ for low mileage cars. While they are great cars, they were never "halo cars" like the F-40 was when it came out. Why is this important? Because seven-figure Ferraris are collector cars. Why would anyone, for example, pay $3 million for a F-40 when a Daytona goes for $600K? The answer is collectors already have all the Daytonas they want. While there all a lot of F-40s, there are apparently still more collectors who want one. Sorry, I don't see a lot of collectors who want ultra-low mileage Maranellos to justify a million dollar price tag. But I could be wrong. BTW, I'm not a collector. I don't collect anything, certainly not cars. I drive em.
But that was not a $300K+ car...given the recent sales history of comparable/nicer 550s. And the location and original destination country did not help. It closed about right IMHO. What do others here think?
which is stout, IMO! My point is more that those would be the only possible candidates for getting there eventually. Of course if I were a betting man, I’d only really feel comfy placing my $$ on the Barchetta
But now you have a new type of owner. This comes in waves. This new owner who paid over 250k for a 20 year old car now and didn’t need financing will only ever sell the car for more than they paid if they even sell them.
When you get into the seven-figure market, you're dealing with collectors, who have a different mindset. For example, no one, except @malcolmb, is crazy enough to drive a $3 million dollar 275 GTB on a cross-country road trip. I'm not a collector so I can't say what motivates them. Apparently, low-mileage museum quality cars are what floats their boat. Out of 3,000 550 Maranellos, how many have 10,000 miles or less? Not many is my guess. If you have one, you better not drive it. Enthusiasts look at relative value. buying a 25-year old 550 for $250,000 is one play, but paying $500,000 for the same car is a game changer. Let's face it. A 550 Maranello is an old car with needs. It was a great improvement over earlier production cars, but that was a low bar. My guess is it will cost about $1 to $2 a mile if you drive it. (My toolbox is a checkbook.) But, for $250,000 I can buy a Porsche Turbo S that will run circles around a Maranello and have a warranty. At the $500,000 mark, you can buy a Ford GT, which will absolutely rock your world. That said, Maranellos have bottomed out their depreciation curve. As long as a car is maintained, it will hold its value. Luca built it as a bridge to the classic '60s front-engined V12s, and it is the last of the line. I doubt Ferrari will build anything like it again. Even better, compared to the classics, like a Daytona, it is a modern car. It has an A/C that works, ABS brakes, moderate traction control, and airbags. Drive it and enjoy it. Don't worry about making money.
Agree that the ultra-wealthy collector set in general has a different mindset...for the most part. But you can't paint with such a broad brush, either. While some ultra-wealthy owners may be into Pebble Beach Concours-quality pristine garage queens, other may (and do) want to drive an enjoy their $3 million 275 GTB. High-end tours like the Cali Mille, Mille Miglia, Copper State Classic, etc attract plenty of the ultra-wealthy who want to drive their $ multi-million cars for more than just an hour twice a year on a nice Sunday afternoon. They wan to be part of an exclusive group of like-minded (and similarly wealthy) owners, and have the experiences and camaraderie that go along with it. When you have that kind of money what does it matter? Something breaks or happens to your car you just get it fixed no matter the cost, and you don't really care.
What’s this new type of owner? There have always been rich people (and even more not so permanently wealthy people) buying expensive things in cash. Your statement makes me think of “Best laid plans….”
This car was reviewed/posted here. https://www.ferrarichat.com/forum/threads/cars-bids-team-likes-the-550.694422/
