Incredible result today on BaT for a car with 43k miles. https://bringatrailer.com/listing/2001-ferrari-550-maranello-7/
I saw that; given I already have mine -nice car & nice price. Be interesting to see if this brings out others.
Yup, this was an impressive result for an average higher-mile driver-quality 550 with not a ton of documentation. The seller did a nice job of cleaning it up for the auction, and it did present well. The collector car market in general, and Ferraris in particular, are highly cyclical, and as we all know we're in a strong seller's market right now with prices up sharply since mid-2021 or so. If I were thinking of selling my 550 (and I am not, fwiw) now would be a good time to get it cleaned up and ready to put on the market. Might take several months or more to get it listed on BaT, for example. And that's if they would even accept it, which is not a given. The market could turn downward just as suddenly as it started its most recent upward climb, and nobody really knows when (or if) that might happen.
I'll do a standard write up on the BaT 575 F1-6MT conversion thread later today. This one really surprised me but like Joe has been saying....its supply and demand....
I tried a few months ago to up stated value with State Farm but they said they needed an appraisal to do so. Any idea how I can go about doing so?
I use Hagerty. They have their own data and a good charting system in their "Valuation Tool" to help determine value.
On inflation adjusted bases the Maranello market is still lagging other period Ferraris and other makes as well. The 550 that sold yesterday went for half its inflation adjusted MSRP. Compare that to the 7k miles 328 that sold today for a little over $155k. It sold for $10k below its inflation adjusted original MSRP of $66k. Those in similar mileage and condition were going for around $90k a couple of years ago. A Maranello in similar condition would have to bring close to $350k to be in line with what the 328 brought relative to its inflation adjusted MSRP. I'm not even factoring in production numbers and other model specific parameters such as power, handling, build quality, etc. We're no where close to being in line with the market at this time.
I guess it’s all funny money….. It is fantastic there are enough people that don’t flinch paying $169k plus the $5k fee for that Maranello. All I can say for sure is that I’m extremely grateful I have mine because if the market for these does NOT correct — then I never again would have been in a position to buy because I’m not wealthy and these “current” prices are “big boy” levels.
Most 'modern' early 1990 (+) production exotics follow the same pattern. An owner is probably doing well if the car has Webers. The new production cars with the F1 auto transmission and the video game dash will take a financial beating.
