THE VALUE OF 575 SUPERAMERICA

Curious as to the group's opinion of replacing my '02- 575 with a Superamerica ?
Do you think the later will hold it's value better on the depreciation scale ?
Seems most are going around $330k today.Do you think $275k will be the bottom ?

 

I am not familiar with the US market. It seems that the 575SA has lost any of its cache as a rare car and is on the same depreciation curve as a 575 - just from a higher level. 575SA for more than list of a 599 is crazy. 575SA is a parts bin special to clear out 575 carcasses at the end of the model run IMO

 

The SuperAmerica is a parts bin special? C'mon that's kind of a dumb thing to say. It was built as both the swan song to the 575 and as the ultimate maranello, just as the limited-run/parts-bin-special? barchetta was the swan song to the 550.
The SA was a 1-year only production car to make way for the 599s, the regular 575s were from '02-'05. They built around 5,700 maranellos and only 559 SAs. Horsepower was also boosted exclusively for the SAs, 515 to 540. I have not seen a 575SA for under 300k currently, in fact last one I looked at was listed at 309k and sold in less than a week. Most dealers still ask around 320-350 for them and I have to believe they're getting pretty close to that.
Long term, I'd say these will definitely be collectors' cars to be treasured and will go up in value without question, just not sure when that will be. It does seem lately that they're on an ever-so-slight decline, but the decline has been like from 350k down to 320k. 275k? Umm, I don't know. May take another year or two to reach that level unless you can find a beater SA.
I don't know how these will appreciate/depreciate in the next 5 years or so, but I have to think they are bound to appreciate for the future collectors of my generation. (i.e., 410SAs? What are they worth now?)

 

there´s no way of knowing. On the plus side, it is a limited edition. But it´s exterior is not to anyones taste and the roof isn´t all that practical.

 

I know a couple people with Superamericas and I personally like the exterior better than the 550s/575s. It actually looks exotic.
And the roof is very practical. Why do you say it isn't?

 

The Superamerica is a really wonderful open top car, with all of the benefits of the 575 such as the comfortable interior, the performance offered by that wonderful 540 HP engine, a real trunk and of course the cherry on top is the ability to open the roof in great weather and to have it closed when you need it. It is a much better Barchetta.
The limited number will ensure that the SA does not suffer the depreciation that has impacted 550's and to a lesser extent 575's. At the production number of 559, with many of them in collections that have no intention of selling them, they will be relatively scarce on the open market and scarcity will ensure their value.
I get frequent calls from brokers inquiring about mine, but for me it is the perfect open top GT. There is really no substitute for driving a big V12 with the top open along a coastal road in summer. V8's seem buzzy and frantic in comparison, and the idea that a 430 Spider, of which there are thousands out there, is valued at around the same money is truly ludicrous to me.

 

I have a 550 PF Barchetta and I am giving serious consideration to the Superamerica. The 550 PFB does not have a real roof and that is more bothersome that I thought in the beginning.

I am of 2 minds on this one. On the one hand, if I go with the SA, I can sell/trade the Barchetta and have some money left over. On the other hand, if I keep the Barchetta, I can buy a Lambo Murcie Roadster--but that keeps me without a roof. The Lambo and SA are very different cars, but I have never owned a Lambo and the chance to have a top-of-the line model is pretty seductive.

On to price . . . you will see SAs offered anywhere from $310K to $375K, depending on options. One famous actor has the GTC package in a black/black car, and has put black chromed rims on his and it is pretty sexy. He wants well in excess of $350K, and I have been contacted by 4 different people about this car. One guy who is on FerrariChat is probably the "real" contact on this car, because he sent me actual pictures taken from the garage. The point is, however, that a car with the same specs is available at the Auto Toy Store for an asking price of $325K--minus the actor's name.

I had one car in a weird color offered to me at $280K. Out of respect to the seller, I will not tell the color, because this is the only one I know of in that color and I do not want to hurt his negotiating.

One seller, who was in default of his home mortgage, offered his SA to me at $250K. It was sweet and had only 2,000 miles. As I was preparing to wire the money, he informed me that he had a loan of $290K against the car, and I needed to pay $290K to get the title cleared. I walked; he is now in bankruptcy (for all of you doubters out there, there are Ferrari owners who use borrowed money to buy cars and who take second mortgages to buy cars--and then borrow against the car). One dealer offered me a car at $300,000 or he would take my Barchetta in trade and take $125,000. Since the car had 6,000 miles, I viewed this as a price of about $165K for my barchetta--and at that price, I will keep it. (I do believe market value for a Barchetta is about $175K to $200K depending on the car's condition.)

All dealers will mark up the cars and all dealers will negotiate aggressively if you can show you have the cash. A private party will consider his or her own circumstances and how much money they need at the time before selling.

I am rambling on, but my opinion is that the generic SA is worth under $300K today and is likely to go lower as the economy continues its sluggish ways and as oil goes over $80 per barrel.

The bottom line is this . . . the market for these cars does not exist in a vacuum. One must consider other cars and the price point for those cars. Look at any car over $200K and below $500K (including SLRs) and you can see deterioration in the price of used cars. The SA is no different.

Happy hunting.

 

good post with logical insight!

 

I know of a grigio silverstone with bordeaux 1400 mile car pm me if you are intersted

 

I have a contrary opinion regarding the relationship between the economy, the price of oil and the price of limited edition Ferraris.
I believe that all for limited edition Ferraris, certainly where the runs are less than 600, and where of those less than 200 came to the US, that the economy or any other extraneous elements like oil have absolutely no correlation to the price of the cars. The very tiny universe of buyers for limited edtion cars like these are, for the most part, not impacted at all by broader economic and market conditions, especially in the secondary market where there are probably less than 10 SA's for sale at any given point in time. These cars sell as and when a particular buyer decides he wants one, which is why there is no "market" per se, just the last sale that means anything. Weird colors, high miles etc will impact individual cars but absent a large number of cars selling regularly, you cannot call it a market.
Barchettas are selling for somewhat low prices relative to their original MSRP but that is because the car is simply impractical to begin with, not having a real top, and the car is also too new in the context of the variety of older Ferraris available to have amassed any kind of fan base.
The SA on the other hand is an all around improvement on the car that it was based on, the 575M, and does everything that the 575M did, but better because it has a real and ingenious roof and a bit more power as well.
Mine is not for sale, not because I can't enough for it, but because it is a really good car in the context in which it exists - a comfortable, large trunk, fast, practical, convertible top, V12 GT Ferrari. The closest thing to it is the Daytona Spyder and there is certainly no other modern convertible Ferrari than comes close to achieving all of those positives for me. It is certainly a much better proposition than the 430 Spider, yet that unlimited production, run-of-the-mill, little V8 is deemed by the market to be worth in excess of $350,000. P.T. Barnum sure had it right!
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I agree with you on the 430--I cannot see why anyone would take a 430 over the 575 SA (or my Barchetta for that matter). While the technology has changed between 2001 (barchetta) and the current 430, there is VERY LITTLE difference between the SA and the 430, in terms of technology. The SA is a 12 cylinder model, and it is a limited run. For me, the styling is classical and elegant. The 430 is sporty, but I am 45 years old--I prefer the classical style.

But, the economy is important for every car. I can point you to a guy in Atlanta (now living in Jacksonville) that bought a red daytona spyder (your picture reminded me)-- a former Johnny von Neumann car -- for almost $2 million USD. Now the car, even with the JvN provenance, is worth less than 500K. I remember 288 GTOs going for $1.8 million plus and can point you to a guy in Coral Gables that had one at that price. Now, they are less than a fourth of that price. I can remember the $15 million 1962 GTO. Now . . .

 

Daytonas Spiders are fetching $1M easy .
GTOs are on their way to $600-700k .
A 250 GTO was sold 2 weeks ago for 14m Euros .

 

Well, to my understanding, the top, once opened, is unprotected. So say you leave it open and stuff (like leaves are anything) gets on it. You couldn't close it without first remove the stuff. Well, you could but it would be a bad idea...

 

You just drive for a short distance and all the stuff will fly off, or you just don't leave it open. You could get leaves and other stuff in any car if you leave the top open.

Oh, and don't quote me on this because I may be wrong but I think I remember that there is a vinyl of fabric top that can cover over the glass but I don't remember if it's meant to be used with the top open or closed.

 

my understanding is that the car is meant to have a 'quick cover top' easy to use. The glass actually turns its darkest when the key is off to protect the leather in the sun.

So, should cover the top on any outdoor parking. Don't want a slushie from some clown spilling in there....

 

The back part of the roof glass is convex and when opened becomes the wind blocker. In the same way when you close the roof, anything on the inside part of the roof slides down into the convex curve and is held there. It does not fall into the car. The roof closes in 7 seconds, so I personally don't park it open where there is the possibility of leaves falling into it.
This is an ingenious design and Signor Fioravanti shold win some design prize at least!

 

Here's a documented sale that seems to substantiate your claim.
4200 miles, Silver/Grey 575M SuperAmerica asking price was $285k

http://www.ebizautos.com/for-sale/used-2005-ferrari-575-superamerica_convertible-la_jolla-ca-508939.html


Many classics take a decade+ of decline before they start appreciating.

 

That particular car seems to have been originally ordered without some of the more pricey (and IMO desirable) options such as F1 transmission and the HGTC package, which includes carbon brakes and significantly better suspension. Its price is appropriate for its level of trim, but it's personally not interesting to me. I believe that when you are buying a very limited edition car like that you may as well get it with everything that materially makes a difference like the best brakes, suspension and transmission. (I know that there are lots of stick shift fans out there, but I equate that to also asking for hand crank starter - ancient technology in a modern car).
Fully optioned SA's are still fetching well over $300k and far fewer of those tend to come to market because the original buyers specced them fully in order to enjoy and drive them, not sell them.

 

i am sorry that color combo is hedious plus i wonder what we will find if a carfax is ran

 

I love the Superamerica. I'm going to test drive one tomorrow. I've got a couple of 07' Ferraris, and would like to buy an older Ferrari to add to my collection. My previous older Ferrari was a 360CS which I sold to make way for an F430 Scuderia, which I expect to buy early next year.

I have never driven the Superamerica, but if it drives as good as it looks, I'm going to buy one tomorrow. The dealer is asking $375k, but my salesman has told me that he will take $325k.

The Superamerica I'm looking at is red/beige with alittle over 1,000 miles. Sweet car!

QUESTION, would you call the car is a 575 Superamerica, 575M Superamerica, or just a Superamerica. Trying to decide on a vanity plate (575M SA is available). I think it makes the most sense to call it a 575M Superamerica, since the hardtop is a 575M Maranello.

 

I like your reference point on an "older" Ferrari being a 360CS. I would say an "older" Ferrari has wire wheels. Wow, you have quite a collection. Post some pictures of your two current Ferraris! What models do you have? We would also like to see, I'm sure, a pic of your former CS if you have one, as they are fairly rare. Take a pic of the Superamerica and post it even if you decide not to buy. High rez pics of different color combinations (piping and stitching) are really helpful on threads like this. Regarding vanity plates, I don't think one is necessary for a Superamerica. The car doesn't need any help to be just about the coolest thing on the road wherever it goes.

 

LOL read into that: "I don't believe a word you're saying about your cars." I tentatively concur. A SuperAmerica is older? What's a Barchetta, an antique, a relic? F50s are fossils by now don't ya know?
The SA, in question, he describes is the one at The Collection in Coral Gables, 375k asking price, red/tan, 1,170 miles. They'll take 325k? Hmm, somehow I find it questionable that they'll just flippantly knock 50k off for asking.
Let's see some of those '07s of yours, PrancingHorse.

 

+1 : exactly what I thought....I thought he was going to quote a 60's or early 70's car....but something as old as a 360, that's a hoot.
Guess my Mondial T should be put under glass

 

Glad i wasnt alone smelling it..

 

...not sure of your true nature in any of this, but out of respect, I believe the car is usually listed as a 575 Superamerica only.
The "M" suffix denotes the 575M specifically.

like this one currently at FofSF for $345k: color, seats, interior = GREAT
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