550 Maranello @ Goodwood Festival of Speed

what is the cost of 60k major service on 550 Maranello? thanks

 

Interesting reading here... A good history is great, but NOT more important than the car's actual condition. The Maranellos are very strongly build and can be brought in great condition at a small amount of their value. Look at Bradan's "worn" 550s and 575s that they fix up. They are brought back to great condition. (Ferrari build these cars so that they can be refurbished quite easily). Original car -fine-, but a twenty year old car with less than 30.000 miles have been sitting alot in its life. A mechanical thing like an italian sports car needs to be droven regularly. The head of the Ferrari workshop in Modena confirmed this to be when I pointed out that my car has 117.000 kms. and is in a lot better condition now after four years and 40.000 kms. in my ownership even if I have not over-serviced it. He told me about a 512BB that was driven to work etc. and was in "normal" car use for the same owner for over 20 years since new. At 240.000 kms., it was sold. But he said the car had a yearly service at this workshop and everything was original. The engine had NEVER been apart since assembly at the factory and ran just perfect. It is sad to see the value go down if milage is "normal".... The market for these cars go up and flattens, sometimes a bit down, and probably will go up after that. The number of cars left are considderably lower than the number produced! And many of those are in rough comdition too until they get restored. But I don't take it that hard when the prices seem to be dropping a bit, since I am not going to sell my car anyway. Imagine in 10 years when 90% of all cars are electric. Norway has determined that after 2022 no cars will be sold with combustion engine without hybrid technology or other kinds of new technology. The rate for electric cars here is now 30% of thenee car sales!! It will be outright a big joy to run V12 manual shift stick in those days, and the value will go up up up!! And a Maranello taken care of will last for fifty years, so there are plenty of years left to enjoy them. Taken all this into considderation, I think where the car is coming from is quite irrelevant. It is the condition that matters. As Taz pointed out... A car does normally not get sea sick during a voyage to a different continent. That is bull****.

 

+1

 

15% on the first 50K sterling, 10% thereafter, plus VAT at 20% on premium.
LHD.....so less value in the UK, than RHD......shouldn't be, but that is us Brits.

So, you are buying at maybe upwards of 120K Sterling, so it isn't cheap........and no come-back on the auction house if it isn't as good as advertised. It's not a 'bargain'.
Just sayin'.

 

The only maths that really matter is the actual hammer price plus premiums. The 'house' estimate of 70/90 thousand in sterling is well short of what he/she will have to write on the cheque.
As you asked....will I be bidding ? No.
Would I buy a Ferrari 550/575 from an auction ? any auction ? No.
The original post asks....where is the market heading?
Probably flattened out right now...with more cars than buyers ? But, that is only my opinion...others may vary.

 

Calcifer, just read the post ! ''maybe upwards of 120K''.
Thus, MAYBE......or upwards of 120K !...thus, not a mathematical calculation.
It may sell cheap.......it may go for a lot more...who knows ?
The original thread asks ''where is the market going''....and the ''house'' estimate is 70/90 K sterling.....which does suggest the market is going down......but not so.

I am merely pointing out that after the hammer price, comes all the add-ons; thus, it isn't likely to be cheap.

IMHO the auction houses only took on where the horse traders left off. They are clearing houses for the trade...where traders might sell or buy. Cars may be good or pups. Check the teeth and lift the tail ! One contributor a while ago said ''that all adds to the fun of auctions''. My opinion is that is does not. Would I spend over a 100K on a car without access to a proper check-over and access to a ramp ? No chance. Some of my customers do, and it is keeping me very busy. Yes, some very good cars will be at the auctions with all the provenance you need....the choice is all down to the individual and the assessment of the risk involved. Move on.

 

This car sold for £83,250 including premium. Which is as I predicted (ahem).

I recommend looking through the results of this auction for anyone interested in modern Ferraris (and Porsches). The maxim that if you're greedy, you'll be taking your own car home, applied. Some cars sold for decent prices, but none of the unsold lots tempt me to make an offer.

All in all this car sold for a price both vendor and purchaser should be happy with, which is the sign of a sane market.

 

Including premium ? ! Considering the relatively low mileage, and a manual 'box as well, I think that is either cheap , but hopefully a real bargain. Re-commissioning costs could vary.......but I think someone did very well to buy that one. Good Luck, and enjoy !

 

A very nice looking car, but not a bargain. There are six LHD 550s advertised for less than this (as asking price) in the UK currently, including two with comparable mileage. Most are significantly cheaper, as asking price. This car also has the Japan history to factor in. So in today's market, the purchaser paid quite high.

As the owner of a LHD 550 myself I have every interest in talking prices up, but I'm afraid that's the situation right now. Lots of average LHD stock of many cars knocking around the UK that was imported when rates were favourable, with the aim of flipping, now hard to sell. Standout cars will do better.

 

It is still a manual, and most of the others for sale around the UK are high mileage too......so at £83,250.......Mmm? Maybe you are correct, Darius. From a specialist Dealer, one would expect all the ''fix-its'' to have been done, or one would walk away. From an auction you get zilch.....so maybe priced about right all in ?
I would still buy from a reputable dealer......with a warranty of some sort. !
Thus, private sales still need to be carrying a discount...IMHO.