Market Prices 575 Manual vs 575 F1 (conversion costs) vs 550?

Going to take two sales to make a trend?

Terry’s comment (and others) are on point…..seems like a really strong result and not sure why. There are 4 bidders at the high level so hard to be negative and say it was manipulated.

Could be a group of guys that just have plenty of cash and really wanted it.

I’m not sure why a converted 575 would sell for a lot more than an equivalent 550…..we’ve covered differing opinions on that….mine was I wanted a 550 with the more analog experience and instruments/dash.

There are many guys here fortunate enough to have sizable to big collections so why not have them all

I think Dan’s conversion is going to be more desirable so if he brings it to market it should theoretically crush this recent result….

 

Agreed. It is amazing that all these cars trade at such strong numbers with no PPI.

part of it has to be a reflection of the buyers wealth and the amounts not being material in size for them. That is a delightful place to be if one can (not me).

 

Wow.....today was interesting. I admit to not following this one super closely.....I was really interested to see where it would land since we don't see "very high" mile Maranello's come to market often....They say "you buy the seller".....I didn't think given the good documentation and only 2 owners (last one for 15 years) that it would end this low.

I mentioned to my wife yesterday that I should bid on this one as a conversion candidate. I'm not sure why I didn't bid on this other than dealing with my wife's brow beating......seemed like a lot to like?

I saw one person comment at BaT that he was looking at it out east for $55k (I would have bought it and dealt with my wife's temper at that level)....I assume he meant he offered and it was not accepted at that level).....that same BaT commenter alluded that he believed the seller bought just slightly below the hammer price.

SOLD for $63,000 on 11/15/21 out of North Salem NY
2004 575M F1 ZFFBV55AX40134692 and assembly 51844
+) 91,145 miles.....yes.....91k miles.....only 2 owners (excluding broker/seller).....carfax showed the owner/seller had it from 2006....that's 15 years 7 months (and made serious maintenance investment over time).
+) Grigio Titanio over blue with shields
+) Daytona style seats, 19" modulars; FHP, Tubi-exhaust; Navigation; leather parcel shelf; ferrari car cover in the trunk; red master fob and security pin paper
+) "Major done June 2021"
+) center panel did look "sticky"
+) clutch done at 68k miles (23k-ish miles ago).
+) From quick glance the interior generally looked good (air bag bubble)?
+) 134692
+) didn't see any threads here on the car
+) https://bringatrailer.com/listing/2004-ferrari-575m-maranello-9/

SUPER interested in high mile cars. I'm thinking I need to resurrect this thread and add some cars that are higher than Doug's blue TdF that sold during covid with 67k miles. I REALLY like high mile car stories @vandevanterSH .....shouldn't we create a "hero's list" for Maranello's 67k miles or higher? Other bay area native.... https://www.ferrarichat.com/forum/members/244412/ @Montgomery Kersten has the highest mile 550 (and original owner) I've heard of (I think he is around 140k and he owns several F-cars.

 

Over the Thanksgiving holiday we had another 575 sell on BaT.

This was an odd ball.....and I think @henryr said it best during the commentary......"coulda saved $2k plus vig just be looking on autotrader". So strange that it was listed historically for $88k on autotrader.....and then no auction fee...... and yet here the "BaT premium" resulted in a stronger number plus the commish....."resale red" I guess?

SOLD for $90,000 on 11/26/21 out of Fredricksburg VA
2002 575M F1 ZFFBV55A620129079 and assembly 46196
+) 39,493 miles.....6 previous owners.....was weird that the carfax showed a PPI that was done and all the items and it's needs was extensive including a "major"
+) Rosso Corsa over tan with shields
+) Daytona style seats, 18" OEM wheels; red master fob and two odd looking keys...also missing Ferrari flashlight in the tool kit (as noted by @henryr
+) quite a bit of documentation but quite a bit of deferred maint per the PPI that thankfully a few guys got to see.
+) Per the auction...."timing belt was replaced in March 2013".....
+) clutch done very recently (mileage wise)....4 years ago.....car has sat for a long time.
+) sounded like the "stickies"hadn't been addressed
+) 129079
+) LISTED and RNM on BaT 1/26/18 at $90,500 out of Northville MI, with 39,081 miles -- https://bringatrailer.com/listing/2002-ferrari-575m-maranello-2/
+) https://www.ferrarichat.com/forum/posts/145783352/
+) https://bringatrailer.com/listing/2002-ferrari-575m-maranello-20/

I enjoyed @dhalperin13 comment during the auction....."No one should pass on a beautiful girl just because she has had 6 boyfriends." I held back and didn't say...."as long as those prior 6 boyfriends weren't 6'6" or taller!

@Clyde Romero @SteveVT @Joel Delman and the regular crew was checking in during the auction.....interested in others thoughts.....I personally didn't think this deferred maintenance plus the cosmetics noted on the PPI and the mileage was going to result in a number much over $70k?

 

No that was a different red one….The one you were thinking about was a “story” car for sure

 

Agreed. It’s amazing….but don’t ask don’t get?….only takes 1?

don’t understand where he is getting his comps?

 

If the market stays very thin from a supply perspective this spring then imagine how bananas things could get?

I NEVER thought COVID was going to play out like this, I thought I was going to have to buy an industrial building for all the “cheap buys” I was going to score…..man I was wrong.

 

Your TdF 550 I was really jealous about….you did very well on that purchase.

It’s been surprising to me….and maybe this “tightening” will be a temporary seasonal trend…..but given how many cars came to market this past year I expected things to remain soft-ish….the spring supply and market pricing will tell (plus a lot can happen in the general economy for sure over the next 4-5 months…..

Edit…I just saw your follow on post….I agree with your sentiment. I personally had/have every intention of my “driver mile” car being a 20+ year hold for me. I couldn’t have ever justified to my wife spending much more than I have because to “normal” people it’s just so insanely excessive.

I was home for the holiday and bought a new shotgun ….we all got together to shoot clays….(I bought the DP-12) and my buddies thought that kind of “unnecessary and expensive” purchase was silly…..I surely am not telling any of them about the 550…..