'98 550 w/ 9K miles sell NR for $105K

I just saw that. May have been a great steal! Will see what the other Fcars bring.

 

Long run? Stolen.

 

Looking at their estimated ranges, prices seem to be lower than they were expecting across the board... Sometimes by a bit, sometimes by a lot.

Unsure how to read into the results. Perhaps a "correction" in the market?

Ruben

 

i would have bought that....

 

Wow! Stolen

 

makes this a 50% off......

Ferrari 550 | eBay

 

Wrong Auction for the seller right auction right car for the buyer. Definitely stolen.

 

They also sold a black black 550 with 46k miles for 120k + fees. (132k total)

 

That is a lot of car for the money. I love the marrenellos.

 

what's up with those shields?

 

FWIW, the TR's are going for a lot less than estimates too.
Alden

 

someone def. got a great deal.

 

the first line of the add:
"Believed to be 9,173 actual miles"

I assume it doesnt have full service history otherwise you would just say 9,173 actual miles.
Also it doesnt mention anything else about service in the past just a last recent service.
Piece of rug is missing in passenger footwell.


If it runs and drives fine, could be a great deal!

 

Painted on shields may have cost 5-10K. Interior from the pictures looks very good, I've sure that it actually does only have the 10K miles on it.

A steal, IMO. And the painted on shields is easily rectified.

 

I agree. Mecum is not the right venue for a seller. Not the right mix of buyers generally speaking. And often where less than perfect cars end up. It is a place for bargains in my estimation however.

I would say the car was very well bought; however issues have been pointed out in this thread that offset the low miles. Sounds like it will need some amount of $$ thrown at it to sort it out to what it should be. The question is: why wouldn't the previous owner have done that in order to get the most out of a 10K mile car?

 

I believe that we will see a return to high values in the spring.

 

I looked over that Maranello, it was in great shape. Not that hard to believe it only had 9k miles. It had a black stain on the passenger seat but I believe it may have happened during transportation. I couldn't understand why it sold so cheap. Later on another 550, lot 166, sold for around $130k + fees. And that one had 37k miles. Other than some scratches on the driver's seat, condition was very similar to the other one. Go figure.
The black on black one that sold for $120k was in way rougher shape, especially the interior.
So unless there's something I missed, lot 26 was stolen at $105k.

 

Was there an accident or a rebuilt title on this???


Sent from my iPhone using Tapatalk

 

Not that I know of. Really odd.

 

The cars that rocketed up are coming back down - I bought 2 550's in the 80's and 90k a few years back - then they skyrocket due to dealers playing games.

Great to see the values come back down so enthusiasts can drive and enjoy.

 

This is 100% correct. You are spot on. I just wanted someone else to say it first.

 

While I agree that there's certainly some market correction going on, the car discussed in this thread was the exception. There are many examples from this weekends actions of 550s bringing strong, or market correct money.

 

I was there. It was sold at about 10:30am. Very small crowd. Later in the day the crowds got larger and the prices went up. I thought the shields were stickers, not painted. Certainly looked like a steal. It was cleaner than S166. The black on black car was extremely rough. The 575 manual with FHP only ran up to 200k....did not meet reserve. That car was really beautiful.

My overall impression for the weekend of auctions was the market for Maranellos was pretty soft. Significantly under the common asking prices being asked.

 

Further, if I were the owner and agreed to do No Reserve, I would be pretty upset that mecum ran it first thing in the morning.

As we watched that car sell for 105k, I commented to my group that if that car brought 105k, the black 550 should bring around 60k. There was that big of a difference in condition.