Sheehan's 550

I have nothing against a 550 with 37k miles, but isn't it an asking price of $99.5k a bit much? Here is Sheehan's listing: http://www.ferraris-online.com/pages/carintro.php?reqcardir=FE-550M-111317#P044. The car looks great, and probably runs as well as it looks, but isn't the real number more like $90k for a car with this kind of mileage on the clock?

 

I'd consider if it is around 80K.

 

not at all. it won't SELL at that price but if you don't ASK at least...

that's why they call it an "asking" price .

make him an offer!

doody

 

What's the deal with the yellow strip of leather at the top of the steering wheel? I've never seen anything like that on any other Ferraris, or any other 550s.

 

It has 4-5 years of average use on the clock over and above the highest mileage examples I have seen. I think that the same car with half the miles would be worth what they are asking. Otherwise, she's a beauty.

 

The steering wheel and Alcantara dash are after-market by Prestige Auto Upholstery.

 

"The steering wheel and Alcantara dash are after-market by Prestige Auto Upholstery."

Hmmm..... can't say I dig that touch. It sort of looks like they ran out of blue leather recovering the steering wheel and just decided to throw in a yellow strip somewhere. Looks kind of outlandishly random given the rest of the car's svelte good looks. I'll give you $75,000 for the car, 77K if you recover the steering wheel.

 

not mine.

 

But in this case I started thinking his line in the description goes like this...

"Priced RIGHT AT 99."

Before I always read that like this "Priced RIGHT at 99."

 

I am looking for a 550 Titanium or Silver, and noticed the service costs on this car. They add up to over $40,000.00 including a possibly unneeded addition of fender shields and painting brake calipers yellow. That is over 1$ @ mile for a 37,00 plus mile car, Does anyone think that is excessive or should I expect this ?

 

The car is well cared for, with great options and color. I will bet he gets somewhat close to his asking price as the miles should not scare you.

 

than the prices of other 99 cars I have seen listed with a lot less miles.

 

I'm terrible at keeping my old magazines in order, but I BELIEVE he wrote an article in SCM about this car, detailing the exhorbitant maintenance, largely at the owner's choice, not necessity. I remember the calipers and flush mounted Scuderia shields specifically. At the time of the article, he was also saying that coupled with depreciation it was an 'x' dollar per mile car for owners 1, 2, etc.

Seems other owners here have had nothing of this type cost per mile for the 550.

 

This is quite often done on track/race cars (usually with tape) so you know where the centre of the wheel is. Comes in handy when you bend something or have full opposite lock when hanging the tail out and need to stop the wheel quickly at centre as it auto rotates.

 

You can still find this article in quarterly magazine number 5 of another forum (*****life.com, for the ** put in Enzo's last name). The figure he came up with was $10.27 per mile, and practically all of that was depreciation and beautification both of which you don't have to suffer from if you buy one now. What also didn't help was that the car wasn't driven a lot. Low mileage = high cost per mile.

Total ownership cost for my 550, I mean TOTAL cost (including tyres, fuel, maintenance, insurance, depreciation etc), is around $2 per mile (in the Netherlands) if I drive 5000 miles a year. Have a look at my spreadsheet in this thread: http://www.ferrarichat.com/forum/showthread.php?t=4345&page=3

It should answer most of your questions.


Onno

 

-answer already given-

 

Does Sheehan really not know the difference between Daytona style seats and standard seats?

 

Doesn't look like it...

 

..it says or best offer'...nice color combo IMO.....

 

Here's the article on his own website:

http://www.ferraris-online.com/pages/article.php?reqart=SCM_200612_SS

Someone should use the article against him in negotiating the car's price!

 

So it hasn't been driven in over a year?! Sheehan's article from 2006 stated he sold the car back then with 36,200 miles on the clock.

 

For out-of-warranty Ferraris, you're looking at an average of $2 per mile, give or take, for V8's and $3 per mile for 12 cylinders. Less if you do your own wrenching.

 

Based on over four years of ownership and 20,000 miles, my personal experience for "repair/service" costs has been $1 mile. It should be closer to 75 cents a mile because I had to pay an additional $5k to fix problems that I had already paid the dealer to fix (plenum hoses and A/C).

The problem is not the labor cost. $100 a hour is in line with other brands. The problem is the parts. Big time. At one time, it looked like I needed a new A/C evaporator. Ferrari's price is $5k!

The other problem is that Ferraris are not Toyotas. They are meant as toys for rich people who don't care how much it costs to fix one. Case in point are the plastic timing belts. Because it will be five years, my car is due next year, which means I'm looking at $5k even if I don't drive the car a mile.

Then there is depreciation. Because I paid $125k for the car, and it is now worth, say, $85k, my depreciation costs have been $2 a mile.

That's the bad news. The good news is that I figure that the car has pretty much bottomed out. The even better news is that because I have decided to get my kicks on the track and not the streets, the car is 90% of what I want in a sports car. The only thing missing is a drop top (maybe someday the SuperAmericas will drop into my bottom feeder price range) and Daytona seats. I hate the standard seats.

So there you have it. My plan is to drive and drive the damn thing until the wheels fall of. If this runs me a $1 a mile, I guess that this is the price you have to pay to be free.


Dale

 

Ferrari's may not be Toyota's but Lexus AC Compressors fit right in, work better and cost somewhat less.

I drove my 88 TR 155K miles. All in came to $2.50 per.

 

Trust me, I wasn't gonna pay $5k. Fortunately, the problem turned out to be the hose, which the dealer had previously charged me $1,500 to fix, but didn't.

You're my hero! In fact, I'm planning to do a Comanche Trail run this Spring from southern Oklahoma to Mexico. Next up, probably will be driving out to Pebble Beach. From there, who knows? It might be kinda fun to drive to Alaska.

Dale