I guarantee you if you looked hard enough you could find a very good mechanic to do it for under 20 grand, same goes for the vanquish conversion. The 30 grand conversion price tag is SERIOUSLY inflated and they're charging people that because they know they can get the funds out of them. I don't know how cheap 575s will get but I do know that they are not done depreciating yet. They're not old enough and there are plenty of them out there. One of these days I'd like to do a first gen vanquish project car. That is a serious machine.
Brad, I have a first Gen Vanquish, and U R right they cost about 30K for conversion at "AstonMartin classic division" (I guess that is where the conversion is done at)+ shipping to UK as well. But if you did it somewhere else, other than the fact that getting it %100 as good as they would is questionable, U will not be able to ask for the same amount of money for ones done by AM if you decide to sell. (And they really skyrocket in value after conversion and documentation by AM). Haven't done the conversion by the way
I forgot to mention that AMs R somehow a "headache" when it comes to faults and servicing compared to Ferarris IMO. (from my experience with my Vanquish) Still a beauty with an unmistakable sound from the back , which is the main reason I guess I still got it eventhough the headache.
with all respect, nobody “knows” anything that is going to happen in the future. Predictions, informed or otherwise, are not knowledge. Which wouldn’t matter, but it then undermines your statements about what you may know, eg the price of a conversion, which is a shame as you seem genuinely knowledgeable about some Ferrari stuff. there are not that old cars made in plentiful numbers which have appreciated beyond their original list prices, 993 and 964 Porsches being the obvious.
Ex Japan LHD 550 with 43000 km sold for £70330 today inc fees on collectingcars. https://collectingcars.com/for-sale/1997-ferrari-550-maranello-1 by the usual metric it means a UK RHD car with the same mileage would be 30% or so more, so more than 100k GBP. in any case, quite a strong market. LHD Japan and Gulf cars are at the bottom of the value ladder when sold in the UK The buyer got a nice looking car.
https://www.silverstoneauctions.com/events/2020-auctions/the-nec-classic-live-online-auction/the-nec-classic-live-online-auction/cars/1999-ferrari-550-maranello coming to auction soon
Why not just keep the F1? I like my manual 550, but I would not work against the evolution and build the 575 F1 back to stick. You make the car less modern, and the personality of the car is still that it was a F1 transmission car...
I belive that figure includes the site fees. £66,350. It also didn't go to auction, it appeard in the comming soon section - then went straight to sold. It had been listed previously in July and didn't sell with a high bid of £62,000, here:- https://collectingcars.com/for-sale/1997-ferrari-550-maranello It looks like this sale was as a result of the original auction and some behind the scenes negotiation has taken place. But I'd take the £66,350 number as the final sale price as more of their listing include the fees as it's good for the site to attract new sellers as the numbers appear larger.
This one is a proof that very low milage is not that important. 6 days left. 56.000 miles and already 80.000 USD is bid... Can it be a sign that the 550s are starting to get more popular? Image Unavailable, Please Login
Interesting, But their other prices are sale prices excluding 6% fees, which is how I got to the £70330 number. If £66350 was including the 6% as you say, it would mean the sale price ex fees was £62594.33? Which seems implausible, though maybe their fee was different this time. I am speaking to them on Monday so I will find out and report back. Either way a very warm price for a Japan LHD car in the UK.
I've had more than one conversation with them, it's all quite fluid, it's not uncommon that the fees are negotiated for after the event sales and for trade sales. They are also very ameanable to removing completed listing that fail to meet reserve or listing that's do sell and are bought by trade buyers that would like the price they paid removed from public view.
We have talked about this car on the other thread. Where this is going and how quickly is a little nonsensical? Even if a 575 conversion is $30k or more why not buy a well maintained lower mileage 575 and convert? https://www.ferrarichat.com/forum/threads/1999-driver-550-with-67k-mi.628683/ https://www.ferrarichat.com/forum/threads/market-prices-575-manual-vs-575-f1-conversion-costs-vs-550.629834/page-2#post-147513791
I have sold one car thorough collecting cars before it got to the auction stage. A simple fixed fee of around £2k. The car was worth around £50k. As you say, they seem pretty flexible. Assuming 6% fees on every sale like @Themaven is definitely incorrect.
I beg to differ. A converted car will never be the same as the original and the investment will never be recognized on a future sale. Markets are not perfect but they are pretty efficient in a reasonable period of time. In free markets, people vote with their wallets and put their money where their mouth is. Sent from my iPhone using FerrariChat.com mobile app
For all those here who claim to drive their previous mileage sensitive collectibles "like they stole it", it may be that someone might convert the car to be identical to an factory manual just because they want the same driving experience but at a lower cost. Secondly, who knows if the premium on factory originals will still be there when it comes to resale day? You only need to look back to 2012-13 to a time when there wasn't. Some of these premiums could be representing just passing fads (e.g. manual mania) which tend to emerge during frothy markets. My personal view is the 575 manuals will keep falling, particularly when there is an abundant alternative which is the 550. Rarity get you only goes so far without truly distinguishing characteristics.
You’re welcome to disagree but original is original and, even if no one else does, I would always know it is not. Regarding rarity, I believe (but what do I know) it will only increase. For one, automakers moving to electrical support, if not power, so a naturally aspirated V12 pure breed will be an even scarcer delicatessen. Two, most three pedal cars stopped production over 10 years ago and most driving enthusiasts will agree that the connection that brings to the machine is irreplaceable. Sent from my iPhone using FerrariChat.com mobile app
I don’t think this has been posted before - apologies if it has: https://www.silverstoneauctions.com/events/2020-auctions/the-nec-classic-live-online-auction/the-nec-classic-live-online-auction/friday-13th-november-classic-competition-cars/1997-ferrari-550-maranello
those of us who have owned 550 and a gated 575 simultaneously would probably disagree. I do. Manual 575 with FHP is quite a different car, and much better. And originality in Ferrari world is everything. Try taking a chainsaw to a Daytona and saying you have a Spider.
this car sold for £68,500 including fees, for the record. A strong price for a Japan LHD car in the UK which are typically 35% or more discount on UK RHD.
Here’s a very nice looking manual 575 up for auction. Grigio Titanio on Bordeaux, FHP, modulars, 20k miles. In South Africa, which has some great driving roads for the car. https://www.classicdriver.com/en/car/ferrari/575/2004/791371
The 35% is really only valid in a bull market. As prices ease that percentage drops as vehicles that were imported from LHD countries to the UK due to their value at the time now start to look attractive in the opposite direction. With a still relatively weak pound vs Euro and USD combined with an adjustment in the market and it's often not unusal to find as little as £10K between a LHD and RHD version of a 550 all things being equal. The LHD cars often being repatriated. This is more so if the car happens to have been originally registered in an EU country that may have punitive taxes on cars of this nature, France and Portugal spring to mind. As the original registration in that country can sometimes make it more straightforward (and less expensive) to re register in it's original home. The current favoured asking price of about £90K for any 550 seeimngly no matter what condition or mileage (bar the odd exception - some under some way over) is not what I consider realistic market pricing. This is Borne out by the fact that none of them seem to have sold despite having been advertised for a while now. I toy with the idea of LHD as I would genuinely like to use it on the continent when we return to a degree of normality. So whatever I buy I'm going to be sat on the wrong side of it at some point.
1998 Black on Black w/ 20k miles sold for $129k via RM Auctions this weekend. Seems like strong money for an average looking example (have to replace the chrome wheels!). Only option appears to be shields. https://rmsothebys.com/en/auctions/el20/the-elkhart-collection/lots/r0118-1998-ferrari-550-maranello/820834
These are definitely cars best unleashed on the continent. I remember when Ferrari was launching the 599 to the media (more powerful but similar idea) they said they would only lend us cars if we drove them to somewhere like Budapest, in fact that was one of the launch itineraries. On what is realistic market pricing, it's not just what people want to pay, it's what people want to sell at. Equal amounts of both. So just as sellers may need to ask a bit less in order to sell, prospective buyers may need to offer more in order to buy these cars which are not selling. You have chronicled in detail your bids on various cars over the past year or so - I am rooting for you to succeed on one of them, but each of them has come up short. Are all the vendors asking too much, or are you offering too little? Some of these cars have sold for more than you offered, by your own account. I do agree there are some pie in the sky vendors; but it takes two to tango in a market. I still say, pay £5-£10k more than you'd like to for a 550 or £20-£30k more for a gated 575. You will be driving a Maranello, which is a priceless (well, nearly) experience! On a related note, gated 575s are between £120k-£140k at the moment.
