Update on the $69k 575m

As some of you may remember, I purchased a nero/nero 2004 575 F1 on BaT last November. At the time, it was one of the cheapest 575s purchased and there were questions about the wisdom of the purchase. The car was delivered in December, but had to go straight into storage for the long Vermont winter and for some TLC with the mechanic.

I thought I’d give a bit of an update.

Over the winter, I was able to do some further research into the history of the car. The previous owner was a prominent real estate developer in Miami. I tracked down his email and sent a note, asking some basics about the car history. I got a terse response from the owner saying that the car was one of 39 in his collection and he had no recollection of the car except that it was one of a bunch of cars he sold a year or two earlier. The car was first sold to Gullwing up in NY and they transferred it to DriverSource in Houston, who put it on BaT.

I still scratch my head a bit at the BaT auction. I put in the bid at $69k – the first and still only time I have ever bid on a car on BaT - I didn't think my bid would meet the reserve. Fortunately, I have a very wonderful and understanding wife. (-;

My shop did a once over on the car and pulled together a list of items that needed to be addressed. Most issues were pretty much expected – belts, hoses, etc. A few were not expected, but not hugely surprising – we needed to replace a number of components on the front suspension. There were some pleasant surprises too – clutch is at 88%, brakes are great, tires are old, but good enough for at least a season, possibly two.

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I had been hoping to have the work done on the car in early May, but delays in getting parts along with a flood in the shop, meant that I did not pick it up until last week. Since then, I have put about 300 miles on it, getting to know the car and taking friends/family for spins. So far, I have been totally thrilled with the car – this is my first Ferrari and like many on this forum, it is the fulfillment of a lifelong dream. A highlight was taking my 80-year-old father for a spin this weekend – he is a total car nut and was thrilled to ride in his kid’s Ferrari.

The car is in great driving condition – the ride, engine and handling are all fantastic. I can totally see how and why some folks daily drive these cars. So far, I am liking the F1 transmission.

There are some issues – a rattle in the bell housing from 2500-3000 rpm, it needs a new stereo and there are some minor cosmetics. I am also debating getting some aftermarket rims for fear of damaging the eye-wateringly valuable modulars on our crappy VT roads. Down the road an aftermarket exhaust may be in the cards.

Originally, I was lukewarm on the black color, but now I love it. I love the subtle, menacing look. I love the fact that it pretty much flies under the radar screen here in the People’s Republic of Vermont. The only downside is it also definitely shows the dust, pollen and dirt that are part of life in northern New England.

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I am hoping to do some longer drives over the course of the summer, but some post-COVID family travel and dropping our daughter off at college mean that free weekends will be somewhat scarce until late August. In the meantime, it will be mostly early evening jaunts through the Green Mountains.

I want to say how much I am learning from this forum and having fun seeing what other owners are up to. Thank you for sharing all your knowledge and passion – I really appreciate being part of the community!

 

Thanks- the repairs were not cheap, but I think I am coming out ok.

On the British Invasion - super excited to see it happening this year. Give a shout - would be great to meet up in Stowe.

 

It is a wonderful feeling. I suspect like a lot of us, I had posters on my wall - in my case the 288GTO and the Testarossa (child of the 80s). I keenly remember riding in sister's best friend's father's corsa 308 in first grade. I even wrote my college application essay about seeing a 1962 250GTO at the New Hope Auto Show when I was 10 (perhaps a small miracle that I was accepted to college!).

It was a long, winding and wonderful journey, but I am so glad I got here. Fulfillment of a lifelong dream, for sure.

 

Erik - Your travels around Europe in your 550 are real inspiration! I love the updates.

So far, I've managed to put about 1000km (650miles) on it and am really enjoying it. Today, my wife and I took it for a jaunt through the mountains over to Stowe to have lunch at the weekly farmers market and buy some wine - a lovely way to spend a summer Sunday afternoon.
Best,
Steve