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

Feels like “traditional Ferrari” guys are so focused on “under 20k mile” cars that once over that hurdle the mods on “drivers” should help the effort.

 

For discussion purposes....lets assume the following is "accurate-ish".....as it pertains to Giallo Maranello's.....
Giallo Maranello's are 86 worldwide?
1996 Euro = 5 US = 2
1997 Euro = 3 US = 7 UK = 1
1998 Euro = 11 US = 7 UK = 1
1999 Euro = 4 US = 12 UK = 1
2000 Euro = 3 US = 12
2001 Euro = 2 US = 13 UK = 1 JPN = 1

Of those 6 have sold historically on BaT (surprising at least to me that many)

Yesterday the 6th Giallo Maranello sold on BaT hammered.....

SOLD for $175,000 on 8/3/22 out of West Chester PA
1999 550 ZFFZR49A7X0117036 and assembly number 34265
+) 39,760 miles
+) Giallo Modena over nero w giallo piping
+) Daytona's (looked reasonable/appropriate); quilted rear shelf and roof; Carbon Interior, fire extinguisher in front of passenger seat, red calipers, normal wheels
+) Typical docs and tool kit....
+) Tubi-style exhaust
+) From the posting: Service performed in July 2022 by Scuderia Performante in Malvern, Pennsylvania, included replacing the cam seals, valve cover gaskets, timing belts and tensioners, accessory belts, timing belt covers, spark plugs, camshaft O-rings, the phase sensor, left intake hose, power steering hoses, coolant reservoir cap, and the oil delivery lines in addition to changing the oil and recharging the air-conditioning system. Additionally, the mounts for the engine and transmission were replaced in preparation for the sale....as well as the right-front lower control arm bushings.
+) From the posting: Previous paintwork is noted by the selling dealer on the left-front fender, front bumper, hood, and quarter panels.
+) Fobs: red master shown and stickies allegedly all taken care of.
+) Tires dated from 2011
+) 117036
+) This car was: https://bringatrailer.com/listing/1999-ferrari-550-maranello-15/

The buyer was an existing 599 owner @Noctilux -- not sure if he is on here with us....

One commenter @money1bags noted he owns a Giallo 550 since 2004 with 75k miles on it.....(noted he lives in Wyoming)....not sure if he is here with us either....

I'm a real sucker for yellow.....it would make a great stable mate for my "Yuma Yellow" 1969 Meyers Manx vintage Baja racer......how many of these had carbon and quilted parcel shelf and ceiling?

Always interested in thoughts.....

p.s. tomorrow we have a cosmetically modified black 575 crossing the block.....more to come

 

Forgot to put my own 2-cents in…..
Those miles
That color
Those options
This market…..price seemed reasonable for how rare…..

18 months ago would it have brought $125-135? I didn’t do an auction price history search….

to quote Ferris Bueller……

 

Yesterday we saw the mostly cosmetically modified 575 finish RESERVE NOT MET and yet higher than I would have expected so the market definitely stays very strong.

I like this 575 but I'm not sure it is worth more than Nick's 575? Neither car for the traditionalist given mods.

RNM at $96,500 on 8/5/22 out of Norwood, MA
2003 575 F1 ZFFBV55A130134336 and assembly number 51657
+) 23,076 miles
+) Nero over gray/charcoal
+) Daytona's (showing wear - with contrasting inserts); shields; "glove-parcel-tunnel thing"; many carbon interior pieces including vent rings but NOT the main gauge surround),
+) From the posting: Paint imperfections shown in photos. Wear on the outboard driver’s seat bolster is noted along with headliner sagging. Stereo modifications with amplifiers, leather issue on passenger airbag. No red master fob, only 1 original key. 19" Modulars with Brembo GT big brake upgrade. Red ferrari car cover. Tool kit with pieces missing. Clear aftermarket taillights.
+) Tubi-style exhaust with remote
+) Clutch showing 70% life left; misc docs back to 2008.
+) 134336
+) This car was: https://bringatrailer.com/listing/2003-ferrari-575m-maranello/

 

Today's 550 that went RNM at $126M was interesting to me as the week unfolded.

It feels like we rarely get to see these "higher mile" (65k) Maranello's.

As a historical refresher, fellow F-chatter Doug sold his TdF 550 with very similar miles and he also spent significant time and money when he enjoyed and cared for his car. That reminder of when his 67k mile car hammered at $103M (10/30/20) can be seen here: https://www.ferrarichat.com/forum/posts/147535889/

Today's result is a reflection of what a modestly optioned, very well cared for, extremely well presented and active seller can do in the market.

Seller did a very good job on what looked like a great car....if not what a traditional buyer is looking for based on total mileage.

The value present in the 550 and even more so the 575 remains strong when compared to where other cars are priced. If/as the economy weakens and rates increase it will be interesting to see if Maranello's soften or if they maintain-to-increase.

If one was to buy a higher mileage Maranello it sure feels like this would have been one to invest in as the prior owners (seller acquired the car in 2022 so this was a flip) seemed to put a lot of car into the car.

Here are the "deets"

RNM at $126,000 on 8/12/22 out of Newbury Park, CA on Montana plates
1997 550 ZFFZR49A6V0109569 and assembly number 26673
+) 64,548 miles
+) Rosso Corsa over tan
+) Standard seats (looked nice/fresh didn't look their age); normal wheels, alpine stereo (original also included in sale); car was fantastically detailed. Steering wheel had some bubbling; dash leather looked good.
+) Extensive docs/maintenance and tool kit....
+) compression test with proof/photos shown and readings were all reasonable
+) Tubi-style exhaust
+) From the posting: The shock actuators were rebuilt by Captain Z CNC of Fort Atkinson, Wisconsin, while the rear Bilstein shocks were rebuilt by Performance Shock, Inc. of Sonoma, California, in May 2022, and the brake fluid was flushed in preparation for the sale.
+) From the posting: Hill Engineering tensioners were installed, the timing belts, power steering belt, and motor mounts were replaced in addition to an oil change and a flush of the coolant system by FMS SoCal of Van Nuys, California, in preparation for the sale. The car passed a California emissions test in April 2022.
+) Tires from 2015/2016
+) Fobs: red master shown and stickies all taken care of.
+) 109569
+) This car was: https://bringatrailer.com/listing/1997-ferrari-550-maranello-22/

I don't know if you all would put this car in front or behind Doug's TdF....so I guess that shows what the market has done since Oct 2020.

Great looking car -- drive for ages and lose zero dollars -- surprised the seller didn't lift the reserve.

Interested in the group thought/commentary.....

 

Not wanting to sell is the first thing my wife said when I ran that one by her.

I would have hoped the reserve was close? Given the level of NGAF generally by BaT bidders I would find it hard to believe one could get a higher price elsewhere?

That level of care would have given me a lot of comfort and I would think it was more valuable than the two “simsimma” imported recent BaT RNM’s.

 

I’ve been hearing closer to $35k.
Dan @dhalperin13 can let us know when his car is done. EAG is doing a lot for him in addition to the conversion.

 

I like where your head is at on that….

 

@p1turbo has shared some photos of his two main horses a 575 and I think 993 that he has extensively enjoyed and I personally love high mile stories!

 

I love all high mileage stories. I've not ridden my three 2-wheeled horses in ages but my 1986 Honda Nighthawk S (CB700SC - owned since 1993) has 54k miles most of which I put on it.

I wish I had the free time to crush miles on the toys (I have 2 motorcycles that haven't been ridden in ages and my vintage stuff rarely gets excercised). Guys like Nifty and Clyde and Mike/P1Turbo, Montgomery Kersten is epic and might have the highest-mile original-owner 550, but he is rarely on here (he is more prevalent on Bat as @Jmkclassic) and others that are crushing miles are "heros".

https://www.ferrarichat.com/forum/threads/high-mileage.126976/page-4#post-148401506