Cheapish 575F1

Thought I'd picked up a copy of last year's internet by mistake:

Used 2003 Ferrari 575 for sale in Shropshire | Pistonheads

No comment on the black wheels. £60k GBP is low if it's a good car.

Incidentally the £250k Speedmaster LHD 575 manual as previously discussed on this forum is now £225k. Still steep, as it values a RHD of the same at more than £300k, and I do not think we are there (yet).

 

Interesting. Definitely looks like Rosso leather as opposed to the usual Bordeaux red on this car.

P.S. Darius, I don't buy into your default assumption that comparable RHD cars are automatically worth 1/3rd more than their LHD twins on the UK market (at all times and at all price levels).

It is possible to see such variations form time to time but it's usually driven by 'temporary' movements in exchange rates. Given time, if a LHD car looks cheap in the UK it is generally because there is a 'surplus' of LHD stock available in the UK. Continental EU buyers will spot this and begin to repatriate their cars back into their home LHD markets... Personally, I would never feel comfortable paying more than a 10% premium for a CHD (e.g. correct hand drive!) car in any given market.

Saying that, owning a RHD car in the UK is a good hedge against Brexit. If the UK leaves the EU, the pound will surely fall and Asian and Australasian buyers might be prepared to pay big nominal sums in Sterling and Hoover-up all the choice RHD stock!

 

Hmm. Mogulboy I hesitate to disagree as you are a real authority but respectfully I'd say the 30% (at least) premium for RHD (in all but the rarest cars) applies in the UK. A £100k LHD Maranello is a £135k RHD Maranello. This is borne out by asking prices on PH now and in my own memory for the past 30 years! It's also applied to the various LHD cars I've bought in Europe and sold here in the past.
I am sure if there's a big enough difference continental buyers will exert some demand, but I'm standing by my 30-35% figure..and every dealer I know would agree, some would say it's more.
Plenty of evidence out there.
My 4000 mile/7000 km 550, for example, would list for £130k in the UK now as it's LHD, and a similar UK RHD car would certainly list for around £180k if not more.

 

I don't claim to speak with any particular authority - it's just that I don't see the rationale for perpetuating this apparent rule of thumb.

I feel that it is not too far away from that other old UK chestnut that a new car automatically loses 20% as soon as it is sold because 'you'll never get back the VAT'.

Even a stopped-clock is right twice a day etc.

If one was to order a new GTC4Lusso from Ferrari for delivery in the UK, my guess is that you could specify LHD or RHD as a no cost option and therefore, the price that you would pay would be identical for each car.

On that basis, at what point would the 30% price delta emerge?

Interestingly, Dick Lovett have a brace of 550s in stock and both were initially marketed at £149,999 but the LHD one was low miles (with Crema) and the RHD one was average miles (with Nero). Hard to tell what the impact of the mileage was but in this case it had the effect of equalising the asking price. That was until they just bumped the price of the RHD one up by £10k. Go figure...

 

Hmmmm....!!

 

Mogulboy, I thought the same about the leather color. Does not look like the Bordeaux I've seen in other cars. IMO, this color combo comes off nicely (no comment on the black wheels).

 

There was recently a 575F1 for sale with similar mileage in the US for I believe under $80k?

Was very recent...whoever posted the thread in this forum deleted it though after it was discussed.

 

Darius- A little PPG 36520 will fix those wheels.

Interior is Bordeaux, like all the rest. Not much custom leather work back then except for adding the rear bulkhead and the center tunnel. Camera and lighting can make Bordeaux lighter or darker in photos, just like my Charcoal interior.

RHD cars will always bring a premium in the UK if there was a RHD version available.

 

tres55, you are correct. There was a 575 in San Diego recently for under $80k with approx. 46k miles. Titanium/Bordeaux.

 

Darius,
At today's exchange the price is equivalent to CDN114,664.00 or US$85,728.00, quite a bit less than I have seen for 575Ms lately. I wonder if that's because perhaps this car was previously involved in an accident or something?
Clyde

 

Clyde, there could be something wrong with the car. Equally it could just be that it's a LHD car for sale with not particularly low miles and a colour combo that doesn't fly in the UK market, being sold privately with no warranty by someone keen to sell quickly. All of those would also account for a considerable discount, and to Mogulboy's point, I do beg to disagree, LHD on relatively prolific used cars in the UK means a 30% discount.

 

Likely it is just the high mileage and condition. Would be easier to sell with a 100 pound investment in painting the wheels.

 

Looks like someone's trying to flip it now using the same dealership photos:

Ferrari 575 575M | eBay

ZFFBV55A840134691

Asking 102,900. A markup of about $30k.

 

On the RHD/LHD delta, for a "classic" Ferrari's James Cottingham at DK puts the difference at 10% in RHD's favour.
As Maranellos move increasingly in the direction of becoming "classic" rather than "second hand" I suspect the difference will go down from where it has been. In the UK a mass market second hand LHD car is a fish out of water but the higher value "collector" cars will often cross the channel several times and indeed the Atlantic. I have had interest in my 575 from Belgium and Germany where I have sold classic cars before.
Also the euro (in which a LHD collector car is likely to trade) has been low, its now strengthening and God knows what will happen to the pound as Brexit looms.