355 six speed at Mecum Vegas.

The buyer got a really good price per website $48.4k


HIGHLIGHTS

• 3.5/375 HP V-8 engine
• Gated 6-speed transmission
• Silver paint with Black interior
• Tubi exhaust
• 1,000 miles on new clutch
• 1,000 miles on Hill engineer throw out bearing
• 30,000 mile engine service done January 20, 2016 at 35,487 miles by Donnie's Foreign Car Service in Little Rock, Arkansas at a cost of $6,688.07
• 36,706 actual miles

 

Check this thread. Sold for $48,400 https://www.ferrarichat.com/forum/threads/355-six-speed-at-mecum-vegas.610729/

 

I saw that thread.

 

Well, that tells us how soft the market is. :-(

Oh, and just drive the sum ***** at that price. Seriously doubt it needs anything else. Sometime I feel everyone on here wants to dream up ways to spend money on these cars..... and I mean no disrespect.


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OK now... I resemble that remark.

 

Ive seen many of these auction cars make it up here to Toronto. Not yet seen a good deal. Pictures don't show much at all. Even the buyers say they bought a great car only to find It should have a salvage title. These cars usually need so much work that it would have been better to spend real money on a real car.

 

Of course, every car this isn't perfect is a POS.

Take it or leave it, it a 95 (best year), GTS (rarest model), gated, with recent service (in mileage), apparently with good parts (Hill TO bearing for clutch work), a little high on the mileage for some (36k would be considered low mileage on a 3x8) ,.... and it went for $48,400. There is a lot or room to make well whatever is sick.

Put those same pictures on FChat with a tag of $80k and everyone would be, "Why hasn't that car sold?

Wouldn't be surprised to see that car at a dealer soon with a much higher tag.

Bottom line, well bought.

 

Mecum has repeatedly proven itself as the worst place to sell a Ferrari. Not sure why sellers continue to consign there.

 

Quick glance at the photos...

Rear bumper alignment is kind of off.

The car is missing the black body line pin striping. It's almost a guaranteed full body repaint. Who knows why...

Sticky parts and interior bits covered in carbon fiber imitation vinyl.

Given that, the price might have been fair if it was involved in a hit that required a full repaint.

 

Oh, by the way, it sold for $48,400.

 

Actually if you look at their results, that is far from true. . It's a reserve auction. The cars that sell sell for what the owner is willing to accept if reserve isn't met. '

Here are some result from Kissimmee 2019. Cars marked High Bid didn't sell.

 

In the end despite posts about how people cant find cars to buy and have wads of cash waiting to blow, the cars just don't sell. At the price this one sold you have money to sort it well. I am skeptical about people wanting $110K cars but pass on $60K models (let alone $48K ones with a stick) and not spend $25K on them to make them perfect. In the end it feels like the public is scared of these cars or so I believe, one can only speculate as to why. It is possible the best bet is to keep them clean and stock and wit till they cross 30 years and see? Just a thought.

I will say that buyer got a great deal on a great model assuming there is no hidden surprises. Seems cars do better on BAT though?

 

Which is why this is more surprising. I gave it some thought.... Just thinking out loud this is not about that specific car, just in general. I went to Barrett Jackson NE 2 months ago, and I lived a mile from Barret Jackson Scottsdale for 21 years. Seems the cheapest place to land a car is from an auction. Lack of ability to do PPI etc make it a bit of a gamble perhaps that why they don't attract buyers in the know?

I also have researched a dozen cars when I was looking to buy and it seems that some cars live on the auction circuit bought and sold there over and over by dealers. Yes, yes some private sales too I know but I definitely noticed a pattern googling vin number from ebay and at auction cars and noticed a frequent pattern. One car was bought and sold between the 2 same dealers half a dozen times. All kind of reasons I can think of as to why that happens, none good. In the end I went private sale since too many cars on auction all came with a certain historical flavor I did not like and it was too much work to weed them out.

So there is the issue. Seems good private sales are hard to come by but also really hard to sell and you I suspect one finds themselves spending months inundated by low ballers (probably dealers and brokers) trying to find their next flip. Lack of ability to sell private drives cars to auctions or Carmax for owners who no longer care and just want out to move on to something else and the cars life of resale and driven with spedo unhooked with dealer plates begins. Huge gaps in registration with no change in miles is a huge red flag I noticed and I noticed it a lot.

None is good or bad it just seems how it is. What ever secret sauce the 993 seemed to have the 3xx cars DO NOT have it. Hence buy one because you like it and want to enjoy it not because you hope to enjoy it for a short period and flip it for 6 figure bump. That too maybe happend? Prices surged but the bubble never really blew up and people got out so rare models sell for 48k. The prospect fo the cars nit tuning into 993 further drives speculators away?

Who knows, the cars sell what can you do for that they sell I bought mine for me. Don't much care if the price cuts in half. In fact if it does... yey I'll put 80K miles on it and NOT feel guilty over what "could" have been.

 

I was quick to respond earlier and this above is so true. Most of these “public” auctions are just trading grounds for classic car dealers. I see very few Joe Public’s buying from the stands. It is the same characters on the block and walking around. My Gated GTS ran at a local public auction a few years ago for grins. No opening bids at $50, cause no real buyers or money. I was there to show the car more in the venue and they wanted to hear it go across the block - this auction was a engines running affair.

Anyway great points.


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I am still surprised though, the 355 SHOULD be worth a fortune. My god LOOK AT IT. Markets are weird.

 

I had a similar feeling coming away from the Mecum auction in Houston this year; at least for the sub-$200k cars.

That same 550 was also a no-sale at Houston this year. I had my eye on it.

 

https://www.ebay.com/itm/1995-Ferrari-355/223620481652?hash=item3410d1c274:g6QAAOSwHXddUNiW

Same car. Salvage title. Original color was yellow.

I looked at this car on eBay a while ago. Dave from Sticky RX just made the connection when I sent him the mecum link.

All is good in the world again.

 

6/29/2007 total loss on the Carfax
Today a “clean” AZ title

From the eBay listing.


I purchased a AutoCheck and it was clean with no accident history. I was just told it did so I purchased a Carfax and it shows a accident on 06/29/2007 as total loss. Just want everyone to know this before purchase. This car comes with a clean none branded AZ title.

 

And, again, like it or not, cars at Mecum pretty much sell for what they are worth. The difference is that people who want to sell there cars at Mecum have REALISTIC EXPECTATION of their value. Dealers who aren't worried about holding a car until the market comes to them put unrealistic asks on them. And individuals look at the dealer pricing and think their car is worth that much.

This car, given what it is, was bought and sold well.