$300k US, quite an asking price | FerrariChat

$300k US, quite an asking price

Discussion in '456/550/575' started by Themaven, Nov 25, 2015.

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  1. Themaven

    Themaven F1 Rookie

    Nov 2, 2014
    4,252
    Eastdown
    Full Name:
    Darius
  2. MogulBoy

    MogulBoy Formula Junior

    Sep 23, 2004
    969
    Devon
    If you take the IRR out of FeRRarI, all that you are left with is FEAR.... :)
     
  3. wrgray68

    wrgray68 Karting
    Rossa Subscribed

    Sep 5, 2014
    182
    Kansas
    Full Name:
    Walker Gray
    I haven't really followed the market for RHD cars. What is the typical premium for RHD over LHD? Or is there one?
     
  4. tazandjan

    tazandjan Three Time F1 World Champ
    Lifetime Rossa Owner

    Jul 19, 2008
    37,985
    Clarksville, Tennessee
    Full Name:
    Terry H Phillips
    Not that much, for sure.
     
  5. intrepidcva11

    intrepidcva11 F1 Rookie
    Rossa Subscribed

    Jan 12, 2009
    3,215
    Saratoga Springs NY
    Full Name:
    Seth
    Daunting news for me, Darius, as this is almost identical to the spec of my 575M except that mine has double the mileage - about 11K - but far lovelier paint/interior - TdF blu/cuoio - and LHD of course. At US$300K it's 'value' is approaching the hammer price at which I sold my 365GTC speciale in 2007 at David Gooding's Pebble auction, that car selling five years later at Bonhams' Scottsdale auction for $800,000. I almost wish the market on these cars not to keep rising, tending to make the cars commodities of significant value rather than the instruments of joy that they've been to those of us who love and drive them.

    P.S. lat week I had the unusual pleasure of calling Foreign Cars Italia down in North Carolina, the dealership that had sold my car new in 2004, and spoke with their top salesman about the spec of the car when new. When I gave him the year, VIN and mentioned the first buyer's name, he laughed and said - he's a friend of mine and I sold him your car; I remember it very well.
     
  6. au-yt

    au-yt F1 Veteran
    Silver Subscribed

    Aug 13, 2006
    5,834
    Burradoo... Actually
    Full Name:
    Graeme
    Depends on the RHD location the UK tend to set the market as RHD car are rarer in number verses LHD.

    In Aus there is a often a premium over the UK market.

    Now the car being discussed is an F1 so a manual is a premium over that again. go figure
     
  7. Themaven

    Themaven F1 Rookie

    Nov 2, 2014
    4,252
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    Darius
    Seth, much as I love our Maranellos I can't see how they will ever get as expensive as your ex-365GTC Speciale. They made, what, a few dozen of those? Thousands of Maranellos.

    I think this UK car is priced too high by about 30% but what do I know.

    The RHD premium has done strange things over the last couple of years. Some cars like 512M and maybe manual 599/575 are like for like more expensive in the US LHD. Others are more expensive now LHD in Europe than RHD in UK. (Mainly German cars, in Germany.) never used to be the case.

    You can buy a good unstoried well specified but not super low miles 575M F1 RHD in the UK for around 100k GBP at the moment, that's around 155k USD. Was nearly half that a year ago. Premiums asked for FHP, HGTC let alone manual seem to be getting wider all the time.
     
  8. Andrew D.

    Andrew D. F1 Rookie

    Jul 6, 2008
    3,979
    Goodwood Ontario
    Full Name:
    Andrew D.
    Pride cometh before the fall
     
  9. intrepidcva11

    intrepidcva11 F1 Rookie
    Rossa Subscribed

    Jan 12, 2009
    3,215
    Saratoga Springs NY
    Full Name:
    Seth
    Darius, I didn't mean to suggest that the 575's price rise would remotely resemble that of the GTC speciale that was, in fact, a one-of-a-kind example. Rather how inflation and the current spurt in prices of some 'exotic' cars may have become distorted.

    That said, the market for a particular Pontiac Fiero GT or the #22 Ferrari 166MM with which Luigi Chinetti won the 1949 24 Hours of Le Mans will always be fixed by a willing buyer with money in pocket and a willing seller at that moment in time.
     
  10. MogulBoy

    MogulBoy Formula Junior

    Sep 23, 2004
    969
    Devon
    Link?
     
  11. tifosi_

    tifosi_ Formula 3

    Sep 24, 2013
    1,863
    Toronto
    Full Name:
    Clyde
    Its because its a manual that the price is at that level
     
  12. Themaven

    Themaven F1 Rookie

    Nov 2, 2014
    4,252
    Eastdown
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    Darius
  13. Themaven

    Themaven F1 Rookie

    Nov 2, 2014
    4,252
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    Darius
    Clyde, she's an F1. Which made the price surprising for me.
     
  14. tifosi_

    tifosi_ Formula 3

    Sep 24, 2013
    1,863
    Toronto
    Full Name:
    Clyde
    Oh really? Then I am surprised too! All the more reason to de-list my car from sale and hold onto it, and enjoy it longer.
    Clyde
     
  15. Themaven

    Themaven F1 Rookie

    Nov 2, 2014
    4,252
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    Darius
    Your car looked great. Love the spec and upgrades. And you have the space to enjoy her in Canada.
     
  16. tifosi_

    tifosi_ Formula 3

    Sep 24, 2013
    1,863
    Toronto
    Full Name:
    Clyde
    Thank you :), and, you're right :)
     
  17. George308

    George308 Rookie

    Dec 18, 2007
    32
    For the same price (200K pounds, GBP), this yellow 575M is the better investment: Rod Stewart's 6speed with Daytona seats! At least the black car with paddles has the -needed- Fiorano handling package.

    Saturday, Nov 28, a London auction will determine the going price of a 550 WSR. I'll bet it goes for about 250,000 GBP. The last one sold last spring, around 190,000 if I got it right.

    Here's Rod Stewart's 575M
    Used 2002 Ferrari 575M Maranello Manual RHD for sale in Buckinghamshire | Pistonheads
     
  18. tazandjan

    tazandjan Three Time F1 World Champ
    Lifetime Rossa Owner

    Jul 19, 2008
    37,985
    Clarksville, Tennessee
    Full Name:
    Terry H Phillips
    Wonder where the old wives' tale started that 575s have bigger brakes? See this mostly in UK ads and articles. 550 and 575 brakes are exactly the same size. Only one rear caliper piston size is different.
     
  19. MogulBoy

    MogulBoy Formula Junior

    Sep 23, 2004
    969
    Devon
    #19 MogulBoy, Nov 29, 2015
    Last edited: Nov 29, 2015
    I wonder how many of our cars have actually changed hands at over £100k this year in the UK?

    Not sure that JCT put their best man on the case when it came to listing the car that you linked Darius. A crying shame really as they should have access to the MODIS system and the build sheet data.

    To start with, they list it as a Manual (doh!) then the list of features could do with a bit of work...

    -Body coloured bumpers with grey inserts (tell us more about those inserts!)
    -Brushed alumium horn (your spoiling us!)
    -Bucket seats (they are the standard seats)
    -Front head restraints (what about the rear?)
    -Luggage securing system in boot (I take it they mean the parcel shelf)
    -Metal steering wheel (I thought steering wheels were made of solid leather?)

    Then they failed to mention that it has the modulars, shields and red brake calipers (which is nice and could indicate that it has FHP, but not a given) and that the interior is Blu Scuro (to trick all those colour blind guys!) and finally, they failed to mention that it appears to have the high power stereo (you can see the rear speaker enclosures in the picture with the boot open).
     
  20. Scraggy

    Scraggy Formula 3

    Apr 2, 2012
    2,064
    England
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    Scraggy
    Answer is prices are non linear to mileage, there is a huge fad to collect "new cars" in the UK at present. I saw a 10,000 mile 355 Spider today £140k, a 30,000 mile car would be 100k and a 3000 mile car £175.

    This is a beautiful 575M but speculatively priced for sure and probably on sale or return.
     
  21. Scraggy

    Scraggy Formula 3

    Apr 2, 2012
    2,064
    England
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    Scraggy
    Mogul - you are so right re these rubbish dealers, I bought a "non FHP" car at a discount and it had FHP. Won't embarrass the dealer by naming !
     
  22. Themaven

    Themaven F1 Rookie

    Nov 2, 2014
    4,252
    Eastdown
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    Darius
    Not sure if these rubbish dealers are a good thing or a bad thing. The dealer in Switzerland selling a 575 manual with less than 1000 miles last February for 90k GBP was rubbish (and never got round to returning my calls) but good for one lucky buyer (another dealer, who sold it on to another dealer, who sold it for 215k).
     
  23. MogulBoy

    MogulBoy Formula Junior

    Sep 23, 2004
    969
    Devon
    #23 MogulBoy, Nov 30, 2015
    Last edited: Nov 30, 2015
    I don't put JD Classics in the 'rubbish dealer' category but that Argento ex-Swiss LHD manual car is still listed on Pistonheads at POA. It finally made it on to the JD Classics website but only in the 'previously sold' section...

    I wonder how much they want for the 5,000 miles RHD Rosso Corsa 2004 F1 listed as available?

    Ferrari 575M RHD - JD Classics
     
  24. Collesano

    Collesano Karting

    Jan 14, 2017
    167
    England UK
  25. F355 Fan 82

    F355 Fan 82 F1 Veteran

    Jul 22, 2006
    9,063
    The reality is we're still in the middle stage of the 575 life. Its not new and its not old. Its in investment purgatory. I think anything below $150k you probably see a decent return over a decade with maintenance of say $5k/year factored in which is quite high I know but Im factoring in average ie $15k one year and just fluids other years. In the long run I believe these find their market in the $200-400k range based on condition. People always say these were built in large quantities and thats fine 2,056 575's is a decent sized number but its not exactly enormous when compared to some other classics like the 246 GT which they made almost 2,500 of. Look where those are trading. I may be bias bc I own one but the 575 is just so beautiful to me and one of the last truly gorgeous front engine cars ferrari made.

    Also I chuckle when people try to say things about values being high or low, lets just pretend our cars had no engines and were just sculptures, there's sculptures that are incredibly mediocre out there for $50-100k at art galleries everywhere. Artwork has values, the cars even sans engine are just gorgeous sculptures to look at. I saw this recently at an art gallery, loved it, but it was $65k so I passed.....now does a $100k 575 maranello as a sculpture sound awful?
     

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