Cinderella crashes the ball | FerrariChat

Cinderella crashes the ball

Discussion in '456/550/575' started by Fcarhappy, Feb 27, 2016.

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  1. Fcarhappy

    Fcarhappy Karting

    Dec 19, 2012
    104
    I recently took my 98 550 to my local Ferrari dealer for an oil service. As she's sitting there waiting to be checked in, two guys start eyeing her hard and later start walking around her. Sitting 15 ft away a much newer 430 had also recently pulled up, but who was getting all the attention, my 550. I found it odd because of all the times I've been there no one has really given her much of "a look", but today the prince couldn't take his eyes of her. I'm sure you all remember all the times a well known Ferrari expert wrote in his articles that the 550 was a great car but would never be a classic or highly sought after. Turns out one of the guys eyeing the car was management and soon asks me if I want to sell--adding that he has a number of buyers waiting to get their hands on one and that this year was retailing for around 120K. When I demured on the general suggestion to sell, he offered up real money. After leaving and doing some research I realize his "wholesale offer" was likely a lowball (70K) but still I was surprised at his level of insistence. Before I left he asked me again if I'd reconsider selling.
    I'm telling you guys the story because it's one thing to "hear tell" that prices are going up, it's quite another to see tangible examples of the phenomenon. Anyone can ASK whatever they like on EBay or any of the other sites--it doesn't mean they'll ever get those numbers. But when "real experiential" behaviors (the dealer's attention and insistence) confirm that something is actually going on--then something is ACTUALLY going on. Guess it turns out that long ago the genius "old school" Ferrari mechanic that recommended I buy a 550 was right. I remember him saying "...you should go with a 550, it reminds me of all the 275 GTBs I worked on over the years, same basic characteristics just NEWER and more attainable; I even think one day those traits will make it a classic". To which I quickly (stupidly) retorted the conventional WISDOM of the experts: "naw, they say they're nice cars and a lot of bang for your buck but never classics". ///Good thing I paid attention to my "old school" mechanic.
     
  2. fatbillybob

    fatbillybob Two Time F1 World Champ
    Consultant Owner

    Aug 10, 2002
    26,289
    socal
    If the dealer wanted your 550 that badly maybe he should have given you a less insulting offer? There are 2 generic 550's for sale by known dealers asking 170K each. When they do sell I doubt they will go for anything close to 120.
     
  3. au-yt

    au-yt F1 Veteran
    Silver Subscribed

    Aug 13, 2006
    5,834
    Burradoo... Actually
    Full Name:
    Graeme
    Enjoyed reading this, Interesting that the dealer though you were naive enough not to know the true value of you car, sadly it happens..
     
  4. FPFaeth

    FPFaeth Formula Junior

    Dec 3, 2009
    663
    NY
    Full Name:
    Frank Faeth
    Similarly, when I purchased my 599, the dealer wanted to give me $80,000 as a trade for my 550, which is in near perfect condition. I went to another dealer.
     
  5. 360modena2003

    360modena2003 Formula 3

    Jul 11, 2009
    2,329
    The 599 is also going to become a classic.
     
  6. Fcarhappy

    Fcarhappy Karting

    Dec 19, 2012
    104
    When structuring his quick "offer" he asked about the mileage. When I said: 23,800 he shrugged and said then 70K---as though that was on the high side. You gotta love that!!! So I guess 120 miles a MONTH is now "high mileage" --- to funny for words.
     
  7. F456M

    F456M F1 Rookie

    Jan 8, 2010
    3,665
    Oslo
    Full Name:
    Erik
    A top condition 550 is AUTOMOTIVE PERFECTION in all aspects. That is why they were 200.000 dollar new. And that is why people LOVE these cars. I am really proud of owning my 550 (and it has nothing to do with bragging rights). It is not for sale unless I get a phenomenal price for it.
     
  8. F456M

    F456M F1 Rookie

    Jan 8, 2010
    3,665
    Oslo
    Full Name:
    Erik
    A top condition 550 is AUTOMOTIVE PERFECTION in all aspects. That is why they were 200.000 dollar new. And that is why people LOVE these cars. I am really proud of owning my 550 (and it has nothing to do with bragging rights). It is not for sale unless I get a phenomenal price for it.
     
  9. ferraridriver

    ferraridriver F1 Rookie

    Aug 8, 2002
    4,134
    Bay Area Calif.
    Full Name:
    Dave
    I might consider selling if I got an offer at original MSRP :)
     

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