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

I’ve been meaning to do a synopsis of the red 575 and later today I’ll do today’s EAG converted 575 with the soft RNM result.

more to come in a few hours….

 

Been busy and frankly a little lazy on keeping up.

Last month we saw what appeared to be a very poor result for the seller right around the holiday on a 575 on BaT

2003 575 SOLD at $80,000 on 7/2/24 --
+) VIN ZFFBV55A230134152 clean GA title out of Richmond Hill, GA and Assembly 51470 (not quite to the magic 52556 that @tazandjan has noted where the FHP is not needed given the upgraded suspension sensor)
+) Rosso Corsa over Nero with daytonas, CARBON, modulars, shields, Tubi-style exhaust, red master fob
+) Seller had previously acquired in Sept 2023 (put on about 1,200 miles)....reason for sale....looking at a 944 GTR.
+) 32,504 miles at time of sale.
+) Tires from 2016, looks like it needed "stickies" attended to.
+) Belts last done November 2023
+) Clean carfax
+) Variety of service docs included. Missing tools and owners manual?
+) https://bringatrailer.com/listing/2003-ferrari-575m-maranello-9/

@henryr this one isn't quite as insane a value as perhaps @dhalperin13 and @SteveVT had done historically but wow this was a reasonable price.....didn't know if you had any thoughts.....many of us were following this one.....Saw you at $75k and that was so close to the hammer. It feels like since Dan and Steve got their 575's this was a strong value.....

If there was one in the last few years to buy, enjoy and then perhaps convert this driver mile car was it......???

 

Today we had an EAG CONVERTED (in 2022) 575 end RNM

@dhalperin13 noted perhaps that since MMWX is helping fine tune the early EAG cars with vibration that the longer term value proposition is "normal 575 plus conversion plus premium for not waiting".

The synopsis I did above really was below market...

but lets assume a $45k conversion cost and a driver mile but very well optioned 575 at $100k..... then an EAG conversion should have done $145 or stronger?

I'd think at least?

Even if you take an F1 at $90 in this temporary weak market then this should have had a stronger result.

Hope the seller gets with the high bidder, does a deal and then checks in with us.

2003 EAG CONVERTED 575 RNM at $122,000 on 8/13/24
+) VIN ZFFBV55AX30133413 clean New Mexico title out of Albuquerque, NM and Assembly 50609 (again not quite to the magic 52556 that @tazandjan has noted where the FHP is not needed given the upgraded suspension sensor)
+) Nero D.S. over Nero with contrasting red-insert-daytonas (I think those look sharp), modulars, shields, OEM exhaust, didn't see the red master fob
+) 23,259 miles at time of sale, seller had only put 400 miles on the car.
+) Clutch master replaced 2024
+) Clean carfax
+) EAG invoices included.
+) https://bringatrailer.com/listing/2003-ferrari-575m-maranello-8/

So many of us followed this one as well.

Really surprising the RNM result was so low.....I'm going to agree with @otoupalik this current window is an apparently terrible time to sell at least Driver Mile Maranello's.......

 

I thought that one invoice showed $35k for the kit and $10k for install

 

@kvm

I’ve seen the car in person and the seller is also a stand up guy (in my experience/opinion).

open checkbook maintenance as well.

 

Today we had @kvm see his 575 OEM converted 575 close at BaT.

I've noted I've seen this car in person and was very envious. I didn't see the car this weekend but I did get to see Kevin and his wife during Monterey car week and I enjoyed sharing some time with them.

Kevin had put about 5,500 miles on the car and we had talked historically about his open checkbook approach during his time with the car.

I know the market has softened the last month (dramatically) but I was surprised to see this car hammer as low as $155k.

Sold on consignment by Mohr Imports (I have also met these guys when I went to their shop last year to test fit my daughters in the third row of an AMG wagon they were selling).

I'm going to put several links at the bottom of the synopsis. Hope the new buyer checks in with us and lets us know where in the USA this car will be headed.

2002 575 OEM CONVERTED SOLD at $155,000 on 8/20/24
+) VIN ZFFBV55A620129051 on a clean CA title out of Monterey, CA and Assembly 46072
+) Verde Zeltweg over Cuoio with Daytonas, shields, tubi, Scud Ing LED light kit
+) Conversion by Exoticars USA of Milford, New Jersey
+) 41,265 miles at time of sale
+) timing belts July 2022
+) extensive documentation on this car and passed smog April 2024. Clutch throwout bearing, pilot bearing, and transmission mounts were changed 1/24
+) carfax had an unfortunate unsubstantiated note on it
+) https://www.forza-mag.com/issues/181/articles/two-pedal-blues
+) https://www.ferrarichat.com/forum/threads/575-maranello-oem-6-speed-conversion.692205/
+) https://bringatrailer.com/listing/2002-ferrari-575m-maranello-41/

Will be fun to follow Kevin on his next automotive adventure.

 

If I were the seller of the OEM 6MT that just got listed I’d be miffed.

https://bringatrailer.com/listing/2002-ferrari-575m-maranello-40/?utm_source=Iterable&utm_medium=email&utm_campaign=campaign_2648439#comments-anchor

I would like to understand how the recent BaT 575 sales order made any sense?

This OEM 6MT should have been first with a big result….

Then Kevin’s green OEM conversion that just ended

Then the EAG conversion that went RNM.

Economically it would have benefitted BaT and the sellers.

So odd.

 

I don’t believe that to be the case…..from several peoples experience as seller with BaT

 

It’s interesting how sometimes you can see the designation of their url and they will even go out of sequence

 

OH MAN that's exciting!

 

Next 575 conversion coming up for sale on Cars & Bids out of Canada
https://carsandbids.com/auctions/rbz2P16g/2003-ferrari-575m-maranello?utm_source=listing_alert&utm_medium=email&utm_campaign=hero

Unless I'm missing it, they haven't disclosed which conversion it is yet and who did it.